Cardano Rumor Rundown June 30, 2022

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Newly covered today:

1. IOG proposes a “Proof-of-Useful-Work” protocol for Bitcoin to minimize energy cost and carbon footprint. https://twitter.com/InputOutputHK/status/1542166680071278594
2. DeadPXLZ have announced that they will build out a location in Cardano Island. https://twitter.com/pxlzNFT/status/1541853395283329025
3. Lots of additional Virtua Cardano Island information in the AMA from June 28. https://twitter.com/VirtuaMetaverse/status/1541789941130223616
4. For a while Cardano’s Pavia was showing up higher on Google searches than the actual city of Pavia. https://twitter.com/Pavia_io/status/1542237468644282368
5. Lots of good info from World Mobile in this AMA including some discussion of the move into North America. https://twitter.com/WorldMobileTeam/status/1539880960564633600

Previously Covered but still interesting:

1. Cointelegraph writes an entire article about the need for mass adoption of liquid staking and manages to avoid mentioning that it’s already alive and well for some time in Cardano. https://cointelegraph.com/news/the-truth-behind-the-misconceptions-holding-liquid-staking-back
2. Pavia gives us a peek at a mystery building. Is it a garage? A hanger? An incinerator? https://twitter.com/Pavia_io/status/1528695835734822914
3. The Pavia Builder Tool is coming in June! https://twitter.com/Pavia_io/status/1528755541169913858
4. Algorand appears to be suffering collective insanity as they consider giving their DeFi projects double votes in governance elections. https://twitter.com/danny_cryptofay/status/1528729769843597313
5. Don’t forget, yesterday was the day that Laszlo traded 10k bitcoins for a couple of pizzas twelve years ago. https://twitter.com/IOHK_Charles/status/1528733380124151809
6. It looks like South Korea is trying to find deep pockets to compensate Luna holders and may hold the exchanges responsible. https://twitter.com/WatcherGuru/status/1528820015352389632ECB President Christine Lagarde says crypto assets are “worth nothing” and “based on nothing.” She also revealed her son had bad luck in crypto. I’m sure he appreciates his mom putting him on blast to the entire world like that. https://www.politico.eu/article/crypto-assets-worth-nothing-ecb-christine-lagarde/
7. Indigo has dropped an infographic to help describe the three phases of their token distribution. https://twitter.com/Indigo_protocol/status/1528849687142350849
8. Cornucopias will have their second NFT Tree sale today (May 25). This time, it will be fruit trees. https://discord.com/channels/829374949587419137/842583414439542805/978401966944309268
9. Apparently it’s admitted history that the Polkadot consensus protocol was coded up in two weeks. https://twitter.com/rphmeier/status/1528975796865363968
10. Charles is in DC for the Blockchain Summit 2022 to see if he can make any progress with the regulators. He reports that Senators Lummis & Gillibrand will release their comprehensive crypto bill in June. https://twitter.com/IOHK_Charles/status/1529128012884676610 https://twitter.com/IOHK_Charles/status/1529128521553018880
11. DC points out a great thread on sound protocol design in DeFi. This includes tips on when it’s a ponzi and when you are the exit liquidity. https://twitter.com/DCdoso/status/1529121840177741825 https://twitter.com/josephdelong/status/1528887299743924224
12. Today (the 26th) will be the May Cardano 360. https://twitter.com/InputOutputHK/status/1529161615354040320
13. There is now a replacement for db-sync called Carp. https://twitter.com/dcspark_io/status/1529434530511216640
14. World Mobile is now advertising air nodes to local entrepreneurs in Zanzibar. https://twitter.com/WorldMobileTeam/status/1529462461644124162
15. The future is looking…let’s call it…“interesting” for Ethereum 2.0. The beacon chain just experienced a 7 block reorg. Not a huge amount of time encompassed in those 7 blocks…but still a reorg. https://twitter.com/koeppelmann/status/1529458000011972610
16. Apparently some projects are more up front about “exploiting young talent”. https://twitter.com/josephdelong/status/1529652818197495808
17. We now have dates on the first Cornucopias Land Mint June 3-7. https://twitter.com/CornucopiasGame/status/1529873760278413319
18. Shahaf Bar-Geffen of COTI was quoted in a Forbes article on the UST/Luna Terra implosion. https://discord.com/channels/829374949587419137/842583414439542805
19. Having little buddies for the player is becoming a common theme in Cardano metaverse projects. Pavia has Pavs and Carda Station has ADA Minions. Here’s the very well done video announcing ADA Minions in Carda Station. https://twitter.com/Carda_station/status/1524823060238454784
20. Paul did a great interview with the Cornucopias team and revealed some additional new details on the upcoming land sale. https://youtu.be/-As4cwicRZ4
21. IOHK made a documentary about their visit to the Ukraine/Poland border area. https://twitter.com/timbharrison/status/1529872546081931266
22. ADA Realm and their partner Actum Games have released a VR walkthrough of ADA Realm Island. https://twitter.com/AdaRealm/status/1530624400910864385
23. Cornucopias has released info on their long awaited land sale. https://discord.com/channels/829374949587419137/842583414439542805 They’ve also released beautiful Unreal Engine 5 video highlighting some lands in their virtual world. https://youtu.be/v52pdDdPzMw Finally, there was a new Copi Cafe with additional land details.
24. Charles gave us a nice detailed report on his lobbying trip to DC. https://youtu.be/gHOO_fP75aM
25. The May Cardano 360 is out! https://youtu.be/Ar_8Lo0nV1s
26. Pavia also released another Q&A video. https://youtu.be/EZj2ZS0YtmM
27. Carda Station has just announced new indoor avatars (for when you’re not wearing the space suit). https://twitter.com/Carda_station/status/1531048666919755776 They also announced a mint for new lands where some kind of commercial activity may be possible. https://twitter.com/Carda_station/status/1529976942069440512
28. Pavia just shared this very mysterious video with a spaceman holding a flag. https://twitter.com/Pavia_io/status/1531243217450057728
29. Charles hosted a “Memorial Day Chat with Charles” Twitter space. https://twitter.com/IOHK_Charles/status/1531463312642392065
30. Cornucopias has repriced their land mint with the largest plot now going for $1k. This is probably going to make it even more difficult to actually acquire plots. https://discord.com/channels/829374949587419137/842583414439542805 https://twitter.com/CornucopiasGame/status/1531413907134349312
31. IOHK has released an article about why eUTxO (e.g. Cardano) is so much better than EVM (e.g. Ethereum) for predicting impermanent loss. Two big eUTxO advantages to understand here relate to concentrated liquidity and fee determinism. https://iohk.io/en/blog/posts/2022/05/27/everything-you-always-wanted-to-know-about-impermanent-loss-and-were-afraid-to-ask/
32. The rest of the crypto space has suddenly noticed that 5 million NFTs have been minted on Cardano. https://twitter.com/WatcherGuru/status/1531317844004294665
33. In light of all the uncertainty around algorithmic stablecoins lately, COTI has created a Djed FAQ. https://cotinetwork.medium.com/djed-frequently-asked-questions-f636735be76
34. Ethereum outdid itself in May with 1.2 million failed transactions. That’s a lot of lost gas fees. https://cryptopotato.com/over-1-2-million-ethereum-transactions-failed-in-may/
35. GeroWallet announces that they are working with a major TV network that is putting out NFTs on Cardano in the next few weeks. Is this DISH? https://twitter.com/Shawn_Gero/status/1531759992285503488
36. A Georgetown Law Professor has co-authored a work on what “legal wrapper” is best for your DAO in various circumstances including a great alternative to the oft used Swiss Foundation/Tripartite Structure . This level of published detailed direction for DAOs is long overdue. https://twitter.com/IOHK_Charles/status/1531834247505395717
37. Pavia has a new partnership related to an “NFT Bridge”. https://twitter.com/Pavia_io/status/1531999174920704001
38. Solana once again decided to surprise no one by going down. However, this time even mainstream media appears to be subtly mocking them for the many outages and restarts. https://twitter.com/SolanaStatus/status/1532043450107015168 https://www.cnbc.com/2022/06/01/solana-suffered-its-second-outage-in-a-month-sending-price-plunging.html
39. Cornucopias has released a full deck on their land sale. https://twitter.com/CornucopiasGame/status/1532123583870287872
40. Another great thread from Sooraj. This time on the “marriage made in Hell” that is the Ethereum account balance system + Solidity. https://twitter.com/Soorajksaju2/status/1532020250522296322
41. IOHK has released a Basic Cardano Onboarding Guide and they would like the community’s help to make it even better. https://www.essentialcardano.io/article/your-cardano-onboarding-guide
42. Ethereum is still facing significant potential challenges with complexity overload, the full spectrum of MEV, Cartelization of the network due to liquid staking derivative platforms, attack surface related to slot leader schedule, the history of PoW validators actually being the same people hiding under multiple different pool names, and other forms of centralization. You can hear ETH devs discussing these issues here in this podcast put up a few days ago: https://www.youtube.com/watch?v=8UPFwKyaQOE
43. Specifically on the danger of cartelization of the network, it looks like Ethereum’s choice of slashing in their proof-of-stake model has created this ripple effect problem via derivatization of staked assets in platforms like Lido that creates this potential for cartelization of the network. Here an Ethereum foundation researcher details those risks. https://twitter.com/dannyryan/status/1531383030786314240
44. Here’s a new Cardano 360 update on the big things World Mobile is doing. https://twitter.com/IOHK_Charles/status/1532521282947915779
45. New York lawmakers just passed a bill to ban crypto mining related to carbon based sources. It’s been obvious this was coming for a while ever since the reports of mining operations dumping hot waste water into the finger lakes and affecting the ecology. In a place like New York, that kind of thing won’t go unnoticed. https://www.cnbc.com/2022/06/03/heres-whats-in-new-yorks-new-bitcoin-mining-ban-.html https://www.cnbc.com/2022/06/04/new-york-crypto-mining-bill-senator-anna-kelles-interview.html
46. Reports are also coming in that the Biden Administration crypto plans due in August will target Bitcoin and other proof-of-work chains over their “sky high” energy consumption. I think we all knew this would eventually come despite the wide spectrum of clever rationalizations regarding Bitcoin’s energy use by its maximalists. https://www.forbes.com/sites/billybambrough/2022/06/02/report-reveals-game-changing-white-house-crypto-plans-that-could-have-a-serious-bitcoin-and-ethereum-price-impact/
47. Coinbase is really slamming the brakes on growth. They’re actually rescinding employment offers right now due to the “macro environment”. https://blog.coinbase.com/update-on-hiring-plans-bcedfa634989
48. Apparently Martin Lawrence is bringing an NFT series to Cardano? https://twitter.com/nftmakerio/status/1533371577928404992
49. Here’s a great thread from u/sobizR revealing the strong trend toward centralization in Ethereum proof-of-stake with a current minimum attack vector of only 3! https://twitter.com/sobizR/status/1532412816619368454
50. Coincidentally, it looks like the MAV in Bitcoin is also currently 3! https://twitter.com/liberlion17/status/1533752691171770368
51. Today (June 7), we may get the Lummis-Gillibrand Comprehensive Crypto Bill. Even if it has only a very low chance of getting a foothold, it may be a good indicator of the potential for positive regulatory treatment of cryptocurrencies to come down the road. https://twitter.com/SenLummis/status/1532746920866762754 https://twitter.com/bot_slam/status/1533973084889403392
52. It sounds like Carda Station is minting the land under their central dome today (June 8). https://twitter.com/JoyeousT/status/1533954184399048705
53. Bitcoin maximalists REALLY don’t like this data about how concentrated Bitcoin mining was in the early days. https://archive.ph/fqMp3 https://twitter.com/nic__carter/status/1533986647938932737 https://twitter.com/CaitlinLong_/status/1534008506847666176
54. Binance now finds itself under the SEC microscope. Is anybody surprised by this? The sale of atoken related to the most notoriously centralized large cap blockchain that is also related to a giant company running a giant unregulated token exchange might not pass the Howey Test? Clutch your pearls immediately. https://www.engadget.com/sec-is-investigating-binance-over-its-bnb-token-000556001.html https://www.bloomberg.com/news/articles/2022-06-06/us-probes-binance-over-token-that-is-now-world-s-fifth-largest
55. The Lummis-Gillibrand Responsible Financial Innovation Act has finally been introduced into the US Senate. https://www.gillibrand.senate.gov/imo/media/doc/Lummis-Gillibrand%20Responsible%20Financial%20Innovation%20Act%20%5bFinal%5d.pdf
56. Several mainstream media outlets are reporting that there was a press call with “people familiar with the drafting of the bill” where Cardano was mentioned as falling under the “ancillary asset” category in the Lummis-Gillibrand Bill. Fortunately, it is actually the courts who get to interpret law (when it’s actually passed) in the US and not anonymous people on press calls. https://twitter.com/SquawkCNBC/status/1534122462065184768 https://decrypt.co/102180/lummis-gillibrand-bill
57. Here’s a video from Charles on the Lummis-Gillibrand Bill. https://twitter.com/IOHK_Charles/status/1534210747982442496
58. Caitlin Long’s Custodia Bank is finally suing the Federal Reserve to get a master account. https://www.forbes.com/sites/michaeldelcastillo/2022/06/07/bitcoin-bank-custodia-sues-federal-reserve-demanding-decision-on-master-account/
59. Solana gets a terrible technical risk score from DefiSafety due to its downtime. https://twitter.com/DefiSafety/status/1534249102032216067
60. IOG has begun unveiling its long awaited new light wallet, Lace! https://twitter.com/InputOutputHK/status/1534726874152173569
61. By all accounts, the Cardano event at Consensys was massive and thoroughly enjoyed by all. https://twitter.com/SpaceApeAstro/status/1534678462274969605 https://twitter.com/InputOutputHK/status/1534689602291867651 https://twitter.com/InputOutputHK/status/1534689148912664577 https://twitter.com/RichardMcCrackn/status/1534682942802481152 https://twitter.com/InputOutputHK/status/1534689617877815296
62. Here’s the livestream of Charles’ fireside chat at DcentralCon. https://twitter.com/InputOutputHK/status/1534657863875969025
63. Coti is now listed on Kraken (June 9). https://twitter.com/COTInetwork/status/1534588566185168902
64. Dish is launching a decentralized identity and loyalty coin system through Atala and Cardano.
65. Ethereum’s Ropsten testnet goes to PoS. Shortly thereafter: “We do have some missing block proposals”. https://twitter.com/TimBeiko/status/1534568861319671808
66. Apparently there is going to be a “Cardano Island” metaverse for our Cardano Summit 2021 NFTs? https://twitter.com/IOHK_Josh/status/1535666494046085122
67. Lido’s staked Ethereum derivative (stETH) depegged from ETH causing concerns over the solvency of a centralized crypto lending platforms (June 11). https://twitter.com/hodlKRYPTONITE/status/1535536331732185089 https://twitter.com/LidoFinance/status/1536756933054676992
68. IOG has released the EVM sidechain alpha (June 10). https://twitter.com/InputOutputHK/status/1535679688139497472
69. IOG’s new Lace light wallet will include a dApp store with dApp certification. https://twitter.com/IOHK_Charles/status/1535851975031545856
70. Interesting questions and responses are posted regarding the security of the IOG EVM sidechain in relation to that of Milkomeda. https://twitter.com/theuttermost/status/1535983805743382528 https://twitter.com/IOHK_Charles/status/1536138950628327425
71. Our own Whale makes a good point in that in the Island/Pond/Ocean analogy, it’s much better to have one foot in the ocean than in the financially toxic pond right now as the Celsius related events unfold. https://twitter.com/cardano_whale/status/1536231971210563584
72. Celsius is having a very very bad month. https://twitter.com/CelsiusNetwork/status/1536169010877739009
73. Three Arrows Capital is also having a very, very bad month. https://twitter.com/thedefiedge/status/1537465349976694786
74. Charles has been asked to speak before the U.S. House of Representatives Committee on Agriculture. This is an important committee for crypto since they have subcommittees that deal with things like commodities exchanges and they hold hearings with names like “The Future of Digital Asset Regulation”. https://twitter.com/IOHK_Charles/status/1537613316381503489 https://agriculture.house.gov/subcommittees/subcommittee/?IssueID=14897
75. A Solana protocol just voted to take over a whale’s account so that they can liquidate the whale’s position via OTC markets to avoid open market liquidation. Does anyone think this is how it’s supposed to work in DECENTRALIZED finance? https://realms.today/dao/7sf3tcWm58vhtkJMwuw2P3T6UBX7UE5VKxPMnXJUZ1Hn/proposal/HuaL6cDtuNtfnJgvwMnYiZDHVCoLAuDtVFgJD8kYChJ4 https://twitter.com/FatManTerra/status/1538448035885240321 https://twitter.com/solendprotocol/status/1538483675913805824
76. The ADA Realm heatmap is back in action with some new and improved features. https://3dkiwi.io/marketmap/adarealm
77. Ardana clarifies the status of its treasury in light of the Three Arrows Capital revelations. https://twitter.com/ArdanaProject/status/1537717199627923456
78. In the recent CopiCafe there was mention of “land staking…coming soon”. Land staking is also mentioned in the Cornucopias CopiWiki. https://youtu.be/vPgKJxPlXks?t=1809
79. The Vasil hardfork combinator event has been pushed back to the last week of July. No big deal. Just more time on testnet for the dApp developers to work on integrating the new Vasil tools into their platforms. https://iohk.io/en/blog/posts/2022/06/20/vasil-upgrade-the-state-of-play/
80. On-chain voting for governance initiatives is beginning to sprout in Cardano via Voteaire. https://twitter.com/theadaape/status/1536788771210940417 https://twitter.com/voteaire/status/1535012082776694788
81. Here’s the first clip of actual gameplay from Cornucopias. https://twitter.com/RobGreig3/status/1538663042623340546
82. Here’s a look at some of the buildings that will be available on Virtua’s Cardano Island. https://twitter.com/Terra_Virtua/status/1538964324038877190
83. Dirk Hohndel, Chief Open Source Officer at IOHK sat down for a fireside chat with Linus Torvalds. https://twitter.com/linuxfoundation/status/1539255990863941633
84. A video alleging possible hidden Nazi symbolism in BAYC (the biggest NFT collection in crypto) is provoking discussion. https://twitter.com/optictopic/status/1539087280865828865 https://youtu.be/XpH3O6mnZvw
85. A Cloudflare outage knocked out big chunks of the internet and a lot of crypto dApps with it. https://techcrunch.com/2022/06/20/cloudflare-outage-knocks-popular-services-offline https://twitter.com/AltcoinPsycho/status/1539142458101096448
86. Here’s the link for the hearing with Charles before the U.S. House of Representatives Committee on Agriculture. https://twitter.com/InputOutputHK/status/1539273885719269376
87. We have now reached the stage where people are mortgaging their Pavia parcels to access the liquidity. https://twitter.com/FluidTokens/status/1539277134488817666
88. Cardano is now a Gold Member of the Linux Foundation. https://twitter.com/linuxfoundation/status/1539613003422760965
89. One of the biggest crypto youtubers seems to be really mad about a social media exchange with a Cardano Ambassador. https://twitter.com/Bitboy_Crypto/status/1538673146064252929 https://twitter.com/Fabian_vBergen/status/1538443734458806274 https://www.youtube.com/watch?v=_bTxXEum57s
90. MinSwap appears to be asking its community to decide on issues around revenue sharing. https://twitter.com/MinswapDEX/status/1539644300237377536
91. The EVM world gets confronted with the possibility that eUTxO might bring some new solutions to the table on the impermanent loss issue. https://twitter.com/Welikethetrees/status/1539633419780513794
92. Here’s the video of Charles testifying before Congress! https://youtu.be/K4ZM2AlGT-s
93. There will be a World Mobile & Charles AMA next week on Tuesday, June 28th! https://twitter.com/WorldMobileTeam/status/1539880960564633600
94. Pavia has revealed that the mysterious structure image they posted is actually the gigantic entrance to the stadium. https://twitter.com/Pavia_io/status/1539992780394708997
95. The Robbery Forest continues doing its thing with yet another $100MM hack. This time it’s the Harmony Horizon bridge. YAY for interoperability!!!! https://twitter.com/harmonyprotocol/status/1540110924400324608
96. It looks like the LIDO community has overwhelmingly voted to NOT self-limit their control of Ethereum PoS delegation. This is a blow to decentralization in ETH when compared to a blockchain like Cardano. https://twitter.com/sobizR/status/1540728451124015104
97. IOG has released Cardano Node 1.35.0 which will be the final candidate for the Vasil mainnet hardfork! https://twitter.com/InputOutputHK/status/1540711787468795904
98. The 3AC contagion seems to be wiping out all the big centralized crypto lenders. The last link explains some very general concepts about the liquidations and restructuring that might be in store for these entities. https://twitter.com/twobitidiot/status/1540830959825731584 https://twitter.com/CoinDesk/status/1540806206456864769 https://twitter.com/BowTiedNightOwl/status/1540864129312837637
99. Virtua gave us a little overhead glimpse of Cardano island. https://twitter.com/VirtuaMetaverse/status/1541126648631812097
100. The mainstream is starting to figure out that ETH’s move to PoS will not solve its scalability problems. https://www.coindesk.com/business/2022/06/27/morgan-stanley-gpu-demand-likely-to-slow-if-ethereum-moves-to-proof-of-stake/
101. At this time, BTC is the only crypto asset that Chair Gensler of the SEC is willing to call a commodity. https://twitter.com/HaileyLennonBTC/status/1541436307246698496
102. Testnet adoption of Node 1.35.0 is now at 50%. Once they hit 75% they will trigger the Vasil hardfork on testnet. https://twitter.com/timbharrison/status/1541445849548472320
103. JCrypto hosted a great Twitter Space with Virtua with a lot of information about the Cardano Island metaverse project. https://twitter.com/greyskulledm/status/1541527588295921665
104. Sam Bankman-Fried says there are some third tier crypto exchanges that are already secretly insolvent. https://www.forbes.com/sites/stevenehrlich/2022/06/28/bankman-fried-some-crypto-exchanges-already-secretly-insolvent/
105. There’s something about the crypto space. Maybe it’s the history of hardforked coins that end up being near clones. But, for some reason, people seem to feel it’s okay to just straight up copy things in crypto. https://twitter.com/Indigo_protocol/status/1541821473538572295 https://www.theverge.com/2022/6/28/23184747/bored-apes-yuga-labs-ryder-ripps-lawsuit-trademark-infringement
106. Front running losses to users on Ethereum due to miner extractable value enabled by the fee market are crazy! Over $30k in one recent hour according to https://twitter.com/ravanave/status/1541816518031327234.
107. The proposal to trigger the Vasil hardfork combinator event on testnet has now been submitted (June 28). https://twitter.com/InputOutputHK/status/1541800451460431872

~Army of Spies