TLDR Crypto Daily Update 2022-10-17

Ethereum censorship 🚫, Mango hacker keeps $47M 💰, Magic Eden royalties optional 🖼️

Topl announces $1 million inaugural grant program for impact-driven blockchain building (Sponsor)

Are you a blockchain designer, visionary, or changemaker? Topl wants to fund your plans to radically change the way business is done and how markets operate — with impact as the key driver.

By the end of 2022, Topl is looking to fund its first round of impact-driven projects to build on the Topl Blockchain. Topl is a decentralized protocol designed to unlock the next wave of inclusive, sustainable innovation across supply chains and markets.

Mobile accessibility, sustainability, impact NFTs, proof of identity, and interoperability are particular areas of interest for the grant.

Read the announcement on Medium to learn how to apply

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Markets & Business

$114M Mango Markets Exploiter Outs Himself, Returns Most of the Money (1 minute read)

Avraham Eisenberg was one of the members of a group that drained $114 million from Mango Markets last week. He tweeted about being involved in the exploit but said that he believes all the actions of the group were legal. The group has returned $67 million to Mango Markets. Mango Markets' DAO will be voting on multiple proposals next week to figure out how to divvy up the returned funds.

NFT Marketplace Magic Eden Moves to Optional Royalty Model (1 minute read)

Solana NFT market Magic Eden is moving to a royalty-optional model. It is currently running a promotion and waiving all platform fees. Magic Eden will put $1 million towards a fund to create better royalty enforcement tools. The platform says it was forced to move to a royalty-optional model as 60% of NFT traders are currently on royalty-optional platforms.
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Innovation & Launches

Ethereum Wallet Metamask Adds Bank-to-Crypto Transfers via Sardine (3 minute read)

MetaMask has added instant bank-to-crypto transfers through automated clearing house settlement merchant Sardine. Sardine's instant ACH integration will allow users to buy crypto instantly with no settlement delays. Users will be limited to a maximum of $3,000 per day, $5,000 per week, or $25,000 per month. Sardine's payment system provides robust compliance and fraud prevention infrastructure.

Flashbots Reveals New Version of Its Key Ethereum Software (1 minute read)

Flashbots has been working on a new version of its technology for the past year. SUAVE (Single Unifying Auctions for Value Expression) will be a fully decentralized block builder that is EVM-compatible and supported across multiple chains. More details about SUAVE will be revealed next week. Flashbots recently open-sourced its MEV-boost code so that anyone can develop their own non-censoring relays.
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Guides & Resources

If you work with Ethereum data, this tool might change your life (1 minute read)

This Twitter thread links to a tool that generates table definitions and SQLs from Ethereum contract addresses. It looks up the ABI (Application Binary Interface) and generates queries that can be run on BigQuery to create parsed tables for each event or function call on that contract. A screenshot of an example query is available in the thread.

Here is all you need to know about $GHO (3 minute read)

GHO is a flexible and decentralized stablecoin by Aave that aims to solve the stablecoin trilemma. The stablecoin trilemma is when stablecoin issuers attempt to find an equilibrium between capital efficiency/scalability, peg/price stability, and decentralization. GHO aims to achieve a stable value through over-collateralization. It can only be minted or burned by Facilitators. GHO will accrue interest when supplied to a liquidity protocol with the interest rate determined by Aave governance. Many more details about the stablecoin are available in the thread.
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Miscellaneous

Censored Ethereum Blocks Hit the 51% Threshold Over the Past 24 Hours (3 minute read)

51% of the blocks produced on the Ethereum blockchain on Friday followed the US Treasury Department's Office of Foreign Assets Control compliance recommendations. MEV-Boost relay providers pass MEV-optimized blocks from builders to the validators that propose them out to the wider network. Of the five MEV-Boost relay providers, only two of them provide non-censoring options. Validators should connect to non-censoring relays in order to avoid more censorship on Ethereum.

Uniswap to Deploy on Privacy-Focused zkSync Following Community Vote (2 minute read)

Uniswap will soon be deployed on zkSync. The proposal to deploy Uniswap on the privacy-focused layer 2 tool passed with almost 100% of all votes in favor of the move. Users will benefit from lower transaction fees without compromising on security. zkSync plans to launch its mainnet soon. The Uniswap deployment could occur in four to six weeks.

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Quick Links

Coinbase CEO Is Planning To Sell 2% Of His Stake To Fund Scientific Research (3 minute read)

Coinbase CEO Brian Armstrong is selling 2% of his stake to fund research at NewLimit and Researchhub, two research-based companies co-founded by Armstrong himself.

Binance Pool’s $500M initiative to aid Bitcoin Mining Industry (2 minute read)

Binance plans to provide 18- to 24-month loans to both private and public miners who will be required to present security to attain the loans.

U.S Treasury Secretary Stresses Need for a CBDC (2 minute read)

US Treasury Secretary Janet Yellen said that it is 'certainly worth' Congress developing a Central Bank Digital Currency during a conversation at the International Monetary Fund's annual meeting.

Stable Swaps and Pools Now Live on Sushi (3 minute read)

Trident Stable Pools are now live on Sushi on Polygon, Optimism, Metis, and Kava.

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