TLDR Crypto 2022-06-29

Zigazoo is a social network for kids to interact directly with creators and brands in the kids' media space. It recently raised $17 million in a Series A funding round led by Liberty City Ventures. Zigazoo's app lets users make and share video responses to challenges from children's brands and talent. It also allows users to buy, sell, and trade NFTs.

Dynamic is a web3-first multi-chain authentication and authorization platform. Its SDK allows developers to implement login, onboarding, and authorization in minutes. Dynamic's developer dashboard makes it easy to enable additional chains, manage users, implement onboarding flows, set up access lists, block wallets, and more. A short video overview of Dynamic's developer dashboard is available.

Goldfinch is a decentralized credit platform that enables loans without requiring on-chain collateral. It uses a 'trust through consensus' mechanism that allows lenders to directly evaluate the credit worthiness of potential borrowers. Goldfinch's system creates a more equitable distribution of capital to underserved markets where borrowers have solid performance histories but struggle to raise capital. This article explains how Goldfinch's mechanism works.

Taro is a Taproot-powered protocol for issuing assets on the Bitcoin blockchain that can be transferred over the Lightning Network. It allows every Lightning node to be an exchange. The protocol allows anyone to issue new cryptocurrencies that are instantly tradable across a wide and cohesive network. Taro could achieve more for Lightning than ERC20 did for Ethereum.

Toncoins will now only enter circulation via proof-of-stake validation.

Every financial asset is a promise to give someone something.

Players can now use the Ronin bridge to make deposits and withdrawals.

Anchorage Digital will keep funds safe for institutions by holding their crypto in cold wallets.

Coinflex is issuing $47 million worth of a new token to help restart withdrawals for its customers.

Asset bubbles happen when investors overpay for assets using borrowed money. Market crashes trigger a cascading series of margin calls where investors are forced to sell as liquidity disappears. This results in a fearful market where no one wants to invest. It could take years before an asset returns to new highs. Investors are typically better off moving to better opportunities rather than fixating on gains that were lost. There can be massive rallies even during huge bear markets.

The Ethereum Virtual Machine (EVM) is the dominant smart contract execution architecture and Solidity is the dominant smart contracting language. There are now a lot of EVM-compatible chains that compete through fees, developer experience, security, throughput, values, ecosystem, and rewards. A typical strategy for many networks is to pump their tokens, create giant ecosystem funds to attract developers, use their treasuries to buy traction, then repeat. Despite these incentives, blockchains are not able to compete with Bitcoin and Ethereum on values.

With Cosmos, a sovereign layer 1 blockchain can operate at the speed it needs for custom tasks.