Markets & Business
Giant NFT marketplace OpenSea lays off about 20 percent of its staff (2 minute read)
OpenSea is laying off around 20% of its employees. The company notified affected employees directly in person before announcing the layoffs. It provided generous severance, healthcare for the rest of the year, job placement assistance, and accelerated equity vesting for laid-off employees. OpenSea has had a string of recent issues that have affected its business on top of the plummeting prices of crypto and many NFTs.
Innovation & Launches
$30 Million Worth Decentralized Social Media Platform on the Way (1 minute read)
Farcaster is a project from a former Coinbase executive that seeks to merge social media with blockchain technology. It recently secured funding in a round led by Andreessen Horowitz. The network will allow anyone to connect with their Ethereum wallets, publish messages, and display NFTs as profile pictures. Users will be free to move their profiles across applications on the platform.
Ankr Network’s 2.0 upgrade aims to improve Web3 decentralization (1 minute read)
Ankr has introduced its Ankr Network 2.0 upgrade. The upgrade is aimed at transitioning blockchains into more resilient node networks. It enables the option to run an independent node, the ability to stake ANKR tokens on full nodes, and the Ankr DAO. An increase in the number of nodes and decentralization will help to eliminate single points of failure in the node infrastructure. It will also increase the network's ability to handle higher Remote Procedure Call request volumes and prevent failed requests. More details about what's in the new update are available in the article.
Guides & Resources
Starkware just announced the StarkNet Token (2 minute read)
The StarkNet token will be used as a fee token, but automated and decentralized on-chain mechanisms will still be able to pay fees in ETH. It will be inflationary to prevent Bitcoin's fix-cap problem. A portion of fees and newly minted tokens will be continuously distributed to devs and operators. Some past users of permissioned StarkEx L2 systems, including dYdX, Immutable, DeversiFiLabs, and Sorare, will receive an airdrop.
Guide to Flow (6 minute read)
Flow is a protocol by Dapper Labs that aims to onboard mainstream users through the next generation of game, app, and digital asset developers. It features a multi-role architecture, resource-oriented programming, developer ergonomics, ease of consumer onboarding, low fees, and a storage deposit for creating accounts. This article introduces Flow and talks about how to participate in the network, the risks and rewards of participation, governance, and running Flow on Coinbase Cloud.
DAOs as Digital Nation-States (6 minute read)
This article discusses how DAOs are more than just new forms of incorporation. It defines several fundamental legal categories and compares them with DAOs to show the deep incompatibility of legal constructs and DAOs. The article examines ways that DAOs can leverage legal tools without being ruled by them. Decentralization and DAOs are the best weapons against authoritarian forces bent on the elimination of privacy and freedom.
What do I think about network states? (35 minute read)
A network state is a social network with the capacity for collective action that crowdfunds territories and eventually gains diplomatic recognition from pre-existing states. Balaji Srinivasan recently released a new book describing his vision for network states. This article contains Vitalik Buterin's thoughts on the book and network states. It discusses whether network states are worth getting excited about, whether they should be tied together with blockchains and cryptocurrency, and what this vision of the world might be missing.