Cardano Rumor Rundown June 9, 2022

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Newly covered today:

1. 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
2. Here’s a video from Charles on the Lummis-Gillibrand Bill. https://twitter.com/IOHK_Charles/status/1534210747982442496
3. 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/
4. Solana gets a terrible technical risk score from DefiSafety due to its downtime. https://twitter.com/DefiSafety/status/1534249102032216067

Previously Covered but still interesting:

1. Tony Rose, IOG Head of Product–Digital Identity, testified before the California State Legislature in relation to California students using digital identity. https://mobile.twitter.com/StakeWithPride/status/1523173974456168450 https://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=202120220SB1190
2. There is obviously still a huge information asymmetry in crypto in relation to Cardano. Even a well known crypto influencer was recently seen aggressively claiming that Cardano had no DEXs when we have: MuesliSwap, SundaeSwap, MinSwap, WingRiders, and others all alive and functioning well. https://mobile.twitter.com/Flat_Mars_Ltd/status/1522400420315815937
3. The Cornucopias podcast, CopiCafe Ep. 6 is now out and available. https://www.youtube.com/watch?v=KuMRgvVDPW8
4. COTI and Djed have partnered with GADA Launchpad. https://twitter.com/COTInetwork/status/1523620203422437376
5. The winner has authored a thread on how the Artifct Moon Treasure Hunt was solved. https://twitter.com/AshXlandZ/status/1523403686810353666
6. There is a new Africa update with John O’Connor available. https://www.youtube.com/watch?v=X1cKW1RhI2E
7. As they post under #ponzi, many members of the Solunavax space seem to be collectively accepting that while they thought TerraUSD was pegged, it was in fact them. https://twitter.com/jonwu_/status/1523793482850050048 https://twitter.com/stablekwon/status/1523532474860539905 https://assets.website-files.com/611153e7af981472d8da199c/618b02d13e938ae1f8ad1e45_Terra_White_paper.pdf https://twitter.com/IOHK_Charles/status/1523876312498192386 https://twitter.com/ercwl/status/1523802943362895872 https://twitter.com/el33th4xor/status/1523968918934728709
8. MuesliSwap held an AMA on Reddit and the questions and answers have been compiled on Medium. https://medium.com/@muesliswap/muesliswap-reddit-ama-06-05-2022-69097df389aa
9. Liqwid gives us a little teaser of the AquaFarmer NFTS. https://twitter.com/liqwidfinance/status/1524204829110906880/photo/1
10. Yellen is citing the Luna Terra fiasco and calling for stablecoin regulation by the end of the year. https://techcrunch.com/2022/05/10/us-treasury-secretary-janet-yellen-pushes-for-stablecoin-regulation-by-end-of-year/
11. The Indigo Protocol private testnet is now live. https://twitter.com/Indigo_protocol/status/1524108224026324993?s=20&t=mR-Tqs9xvh1aDFysTiMzwg
12. Here’s an illustration from Pavia as to the size of the Pavia Plaza. Turns out it’s big. https://twitter.com/Pavia_io/status/1524296117768368128/photo/1
13. Charles had a few things to say about the events of the last few days. https://www.youtube.com/watch?v=pNH_PvkVN74
14. Here’s a World Mobile video showing an air node installation. https://twitter.com/WorldMobileTeam/status/1524042009970888705
15. Unlike UST, the Ergo stablecoin, SigUSD, has maintained it’s peg nicely since establishment. SigUSD is based on the AgeUSD architecture just like Djed. https://twitter.com/ergoplatformorg/status/1524302368241819657
16. Here is the latest response from Stable Kwon. Doesn’t seem like a terribly promising plan. https://twitter.com/stablekwon/status/1524331171189956609
17. Both Blackrock & Citadel have denied the rumors they were involved in Crashing UST. https://watcher.guru/news/blackrock-and-citadel-have-denied-trading-with-terras-stablecoin-ust
18. Mainstream media is reporting that Charles doesn’t think we’ll get comprehensive crypto regulation this year since there is not enough time politically before mid-term elections to accomplish the task. This would push it to 2025. https://www.foxbusiness.com/technology/cardano-founder-sees-comprehensive-cryptocurrency-legislation-pushed-2025
19. IOG releases a new paper on P2P. https://eprint.iacr.org/2022/541/20220510:081002 https://twitter.com/IOHK_Charles/status/1524587529743257601
20. Here’s a thread on Djed asking some interesting questions. https://twitter.com/MatthewPlomin/status/1524386978220974080
21. ADA Handle reports it has partnered with Cardano Mixer which is a transaction privacy protocol. https://twitter.com/adahandle/status/1524088554392932352
22. Meanwhile Cardano developers are just grinding away. Watch the code forges glowing red hot here. https://cardanoupdates.com/
23. An important question has surfaced as a result of the revelation that UST may not be the first stablecoin from its creator. https://twitter.com/DeansEpoch/status/1524495566163660800
24. It looks like Terra may be moving toward a plan where “validators should reset the network ownership.” Is that the type of crypto that most of us signed up for? https://agora.terra.money/t/terra-ecosystem-revival-plan/8701
25. Even Forbes realizes that the EVM may not be the best virtual machine in the industry. https://www.forbes.com/sites/lawrencewintermeyer/2022/05/12/will-ethereums-virtual-machine-eat-itself/
26. Copi Cafe Episode 7 is out. https://www.youtube.com/watch?v=s1zSbpzY40w
27. Here are details on the Liqwid Aquafarmers NFT mint that will be going down at 12:00 PM UTC (8:00 AM EST) on Tuesday, May 17th. The medium article describes a 12 hour window for whitelisted addresses. https://liqwid-finance.medium.com/liqwid-aquafarmers-nfts-mint-date-and-time-c347b05b288e
28. Daedalus 4.10.0 is out. https://iohk.zendesk.com/hc/en-us/articles/6515425656089
29. Charles with some very incisive commentary on the way Cardano funds development vs. the rest of crypto. https://twitter.com/IOHK_Charles/status/1525651090376736768
30. The Cornucopias NFT Tree mint is this Friday (May 20) at 2:30pm UTC. https://twitter.com/CornucopiasGame/status/1526627372916690945
31. Sounds like Shahaf Bar-Geffen is going to be on Cardano 360 this week to talk about Djed as an algorithmic stablecoin. https://twitter.com/DjedStablecoin/status/1526717080124399616
32. Solana had another bad day and shock was experienced by no one. https://twitter.com/evan_van_ness/status/1526635595958820865
33. MuesliSwap lays out their innovative new combination of AMM/LP liquidity and partial orders that is slated for MuesliSwap v2. https://twitter.com/MuesliSwapTeam/status/1526521563478216704
34. Meld has an ADA-Matic Bridge live on testnet. https://twitter.com/MELD_labs/status/1526655506051473413
35. There will be a World Mobile AMA Thursday May 19 at 8pm UTC. https://twitter.com/WorldMobileTeam/status/1526834369813704705
36. It has become clear the mainstream media (and even a lot of people within crypto) have zero understanding of proof-of-stake. https://twitter.com/TuurDemeester/status/1526670962837671937
37. The US Fifth Circuit has released a decision against SEC use of administrative law judges in cases where it sees a right to jury trial for parties. https://twitter.com/prof_jpc/status/1527003339644362756
38. Cardano is going to have a good contingent at Consensys with over 500 people signed up for the Cardano party. https://twitter.com/Cardano/status/1527000670078902272
39. We now have some info on the Cornucopias virtual lands that will go on sale. https://medium.com/copiwatch/a-glimpse-of-virtual-land-in-cornucopias-cardano-metaverse-42d19663755c
40. Here’s a nice 43 second explainer video on World Mobile Air Nodes. https://twitter.com/WorldMobileTeam/status/1526940098591326208
41. Weiss crypto drops another very complimentary thread about Cardano. https://twitter.com/WeissCrypto/status/1527336737001074688
42. The Cornucopias Copi Wiki is now live. https://copiwiki.cornucopias.io/
43. Indigo has dropped the details on not just one…but two…airdrops. https://indigoprotocol1.medium.com/indigo-airdrop-cspa-partnership-1ca79fa3890a
44. Cornucopias released this teaser video with imagery of a Cloud Gate at the end. They also dropped their weekly Copi Cafe podcast. https://youtu.be/0CM2Qj6dh_w https://youtu.be/yyPsEOsSt7E
45. 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
46. Apparently, we are only eight epochs away from the Vasil Hardfork Combinator Event. https://twitter.com/CardanoChefPool/status/1528492769223667712
47. Pavia gives us a peek at a mystery building. Is it a garage? A hanger? An incinerator? https://twitter.com/Pavia_io/status/1528695835734822914
48. The Pavia Builder Tool is coming in June! https://twitter.com/Pavia_io/status/1528755541169913858
49. 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
50. 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
51. 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/
52. Indigo has dropped an infographic to help describe the three phases of their token distribution. https://twitter.com/Indigo_protocol/status/1528849687142350849
53. 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
54. Apparently it’s admitted history that the Polkadot consensus protocol was coded up in two weeks. https://twitter.com/rphmeier/status/1528975796865363968
55. 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
56. 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
57. Today (the 26th) will be the May Cardano 360. https://twitter.com/InputOutputHK/status/1529161615354040320
58. There is now a replacement for db-sync called Carp. https://twitter.com/dcspark_io/status/1529434530511216640
59. World Mobile is now advertising air nodes to local entrepreneurs in Zanzibar. https://twitter.com/WorldMobileTeam/status/1529462461644124162
60. 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
61. Apparently some projects are more up front about “exploiting young talent”. https://twitter.com/josephdelong/status/1529652818197495808
62. We now have dates on the first Cornucopias Land Mint June 3-7. https://twitter.com/CornucopiasGame/status/1529873760278413319
63. Shahaf Bar-Geffen of COTI was quoted in a Forbes article on the UST/Luna Terra implosion. https://discord.com/channels/829374949587419137/842583414439542805
64. 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
65. Paul did a great interview with the Cornucopias team and revealed some additional new details on the upcoming land sale. https://youtu.be/-As4cwicRZ4
66. IOHK made a documentary about their visit to the Ukraine/Poland border area. https://twitter.com/timbharrison/status/1529872546081931266
67. ADA Realm and their partner Actum Games have released a VR walkthrough of ADA Realm Island. https://twitter.com/AdaRealm/status/1530624400910864385
68. 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.
69. Charles gave us a nice detailed report on his lobbying trip to DC. https://youtu.be/gHOO_fP75aM
70. The May Cardano 360 is out! https://youtu.be/Ar_8Lo0nV1s
71. Pavia also released another Q&A video. https://youtu.be/EZj2ZS0YtmM
72. 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
73. Pavia just shared this very mysterious video with a spaceman holding a flag. https://twitter.com/Pavia_io/status/1531243217450057728
74. Charles hosted a “Memorial Day Chat with Charles” Twitter space. https://twitter.com/IOHK_Charles/status/1531463312642392065
75. 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
76. 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/
77. The rest of the crypto space has suddenly noticed that 5 million NFTs have been minted on Cardano. https://twitter.com/WatcherGuru/status/1531317844004294665
78. 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
79. 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/
80. 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
81. 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
82. Pavia has a new partnership related to an “NFT Bridge”. https://twitter.com/Pavia_io/status/1531999174920704001
83. 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
84. Cornucopias has released a full deck on their land sale. https://twitter.com/CornucopiasGame/status/1532123583870287872
85. 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
86. 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
87. 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
88. 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
89. Here’s a new Cardano 360 update on the big things World Mobile is doing. https://twitter.com/IOHK_Charles/status/1532521282947915779
90. 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
91. 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/
92. 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
93. Apparently Martin Lawrence is bringing an NFT series to Cardano? https://twitter.com/nftmakerio/status/1533371577928404992
94. 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
95. Coincidentally, it looks like the MAV in Bitcoin is also currently 3! https://twitter.com/liberlion17/status/1533752691171770368
96. 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
97. It sounds like Carda Station is minting the land under their central dome today (June 8). https://twitter.com/JoyeousT/status/1533954184399048705
98. 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
99. 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
100. 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

~Army of Spies