TLDR Crypto 2022-09-27

Binance has announced a burn mechanism for burning all trading fees on LUNC spot as well as margin pairs. The amount of LUNC burned, its equivalent value in USDT, and on-chain transaction IDs will be shared every week. The trading experience and liquidity will remain the same. The price of LUNC surged 56% following the announcement.

Bitcoin and other cryptocurrencies rose in value as US stocks fell at the beginning of the week. Crypto and US stocks have moved in tandem for the majority of 2022. Policies from the Federal Reserve have heavily affected both asset classes. Overall adoption of crypto has slowed worldwide and the market continues to remain in a downturn.

The Cosmos Hub 2.0 white paper released at the Cosmoverse conference in Colombia outlines major expansions to the utility of the Cosmos Hub and spells out a new vision for ATOM. Other chains will soon be able to use the Hub to secure their networks. Liquid staking for ATOM will soon be a core part of the network's code. The protocol is also planning major long-term reductions in the number of tokens issued. More details from the white paper are available in the article.

Michael Patryn, also known by the pseudonym Sifu, has launched a money market protocol called UwU Lend. UwU Lend is a fork of Aave with different tokenomics, rewards structures, and collateral. It has a one-click looping feature that allows users to deposit borrowed assets back into the protocol to be lent against again with one click. Patryn is a controversial developer and trader due to his involvement in QuadrigaCX. UwU Lend attracted $55.5 million in total value locked just two days after launch.

wagmi is a collection of React Hooks for working with Ethereum. It makes it easy to connect wallets, display ENS and balance information, sign messages, interact with contracts, and more. wagmi features caching, request deduplication, multicall, batching, persistence, and TypeScript support.

Arbitrum upgraded its network to Nitro on August 31. The upgrade led to increased throughput and lower fees. It also introduced Nova, a chain focused on web3 gaming and social applications built on Arbitrum's AnyTrust technology. Arbitrum is expected to launch its ARB token soon. This Twitter thread presents 6 popular dApps to interact with and a strategy for maximizing the chances of receiving an ARB airdrop.

noob wallets are non-custodial smart contract wallets attached to social media accounts. Users are able to create noob wallets on behalf of other people completely permissionlessly. This allows users to send cryptocurrency and NFTs to other people without needing them to create their own wallets. Recipients can claim their assets at any time via a social attestation. The Lensmo app allows the sending of Polygon NFTs and tokens to noob wallets.

Interpol has issued a red notice for Do Kwon asking for help from worldwide law enforcement to find and arrest him. A red notice is a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action. Prosecutors believe that Kwon is in Singapore. Kwon recently claimed that he is not on the run and that he is making zero effort to hide.

The ZKSpace Name Service has zero gas fees and large ZKS token holders can reserve their preferred lifetime ZNS names.

Mastercard has partnered with Hi to launch the world's first NFT card, which will initially be available for customers in the European Economic Area and the UK.

Walmart is entering into the Roblox metaverse with a blimp that drops toys, a music festival, games, and a virtual merchandise store.

The cease-and-desist orders will prevent Nexo from offering interest-earning accounts to residents until it meets the necessary registration requirements.

Disney posted a job listing last week looking for legal counsel specializing in NFTs and DeFi.