Cardano Rumor Rundown November 7, 2022

Hey Everyone!

Let’s go….

Newly Covered Today:

1. a16z thinks social media needs three separate game modes from safe space to wild west and to be governed by its users. https://a16zcrypto.com/toppling-the-internets-accidental-monarchs-how-to-design-web3-platform-governance/
2. There’s a whole crypto twitter drama happening right now with the finances of FTX and Alameda that has apparently led to Binance announcing that they will sell their FTX Token holdings (Nov. 6). https://twitter.com/JohnEDeaton1/status/1589305305388621824 https://twitter.com/cz_binance/status/1589283421704290306 https://twitter.com/DU09BTC/status/1589135270103773184
3. Colin from Obsidian and Lode Wallet gives us an early look at Hydra. https://twitter.com/osColinH/status/1588890270149783553
4. There’s trouble in DeFi land as it’s pointed out once again that LPing in AMMs seems to very frequently involve impermanent losses outpacing fee revenue. In this case, it’s asserted that the lab behind the AMM didn’t even understand the extent of the problem due to a mismeasurement. Of course, the prospect of new DEXs with impermanent loss mitigation brings something new to the table. https://twitter.com/thiccythot_/status/1589022227437039616 https://twitter.com/ravanave/status/1589264438087266305

Previously covered, but still interesting:

1. Lace has opened up the “Lace Explorers” program for anyone who wants to be first in line to try the new Lace wallet from IOG. https://www.lace.io/ https://twitter.com/IOHK_Charles/status/1581627196149444608
2. The IOG Lace Presentation from Rare Bloom can be found here: https://youtu.be/eBH34WkU_2w?t=14556
3. Apparently, you can make paper wallets in NMKR. https://twitter.com/nmkr_io/status/1581765372511866880
4. According to MEVWatch, 53% of all blocks in ETH are now enforcing OFAC sanctions. Censorship resistance is no longer a thing in ETH. https://www.mevwatch.info/ https://twitter.com/koeppelmann/status/1580893089077809153
5. The Mango Markets events have definitely taken an interesting turn. https://twitter.com/avi_eisen/status/1581326197241180160
6. US Senator Hickenlooper of Colorado has requested that the SEC provide a formal regulatory process for cryptocurrencies. It would be nice to have the clarity. But, the SEC is definitely not the preferred regulator on our side of the fence. https://news.bitcoin.com/us-lawmaker-calls-on-sec-to-issue-crypto-regulations-says-a-formal-regulatory-process-is-needed-now/
7. Book.io has just closed an investment from BDMI a venture capital firm which is a wholly owned subsidiary of the global media, services and education company Bertelsmann. https://www.prnewswire.com/news-releases/bdmi-invests-in-bookio-the-first-ever-nft-ebook-platform-301650304.html https://twitter.com/book_io/status/1582045180571836418
8. SEC Commissioner Hester Peirce lays out the contours of what NFTs could possibly be deemed securities by the SEC. https://www.ft.com/content/e8df6ea4-e9fb-4058-9a36-cef9c12f4726
9. Here’s a great discussion on what exists or will exist in Cardano to prevent widespread MEV type sequencing of transactions. https://twitter.com/liberlion17/status/1581409081276833793
10. Texas securities regulators are “now investigating FTX Trading, FTX US, and their principals, including Sam BankmanFried.” https://cases.stretto.com/public/x193/11753/PLEADINGS/1175310142280000000134.pdf https://www.barrons.com/articles/ftx-us-sam-bankman-fried-probe-securities-regulator-51666020282
11. Curious why your “crypto attorney” never seems to give you actionable advice. Here’s the thread for you from the Chief Legal Officer of Kraken. https://twitter.com/msantoriESQ/status/1582033096345817088
12. There was a fairly small exploit of RayStake (roughly 412k ADA). Here’s the post-mortem. https://raynetwork.medium.com/franken-attack-80140b63749f
13. Here’s a very interesting article on whale behavior on DEXs. https://twitter.com/SpectrumLabs_/status/1582067954132262912
14. Coinbase will now allow you to mint NFTs. https://twitter.com/brian_armstrong/status/1582447497431068673
15. Bitboy now thinks Cardano will flip Ethereum (eventually). https://twitter.com/Bitboy_Crypto/status/1581377266403065856
16. An Ape Society NFT sold for 180k ADA. https://twitter.com/TAS_SalesBot/status/1582453748462649344
17. An amicus brief in the Ooki DAO case is now challenging whether a DAO can be considered a legal “person”. https://www.coindesk.com/policy/2022/10/18/daos-arent-people-crypto-lawyers-tell-court-in-cftcs-ooki-case/
18. It looks like the Aptos launch was accompanied by something far less than glowing praise. https://twitter.com/ParadigmEng420/status/1582121408548651009
19. Greenland is looking into blockchain voting. https://www.computerweekly.com/news/252526273/Greenland-investigate-potential-blockchain-based-election-system
20. The next FutureFest concert is going to be a multi-destination concert with several venues all built on Unity. https://twitter.com/unitygames/status/1582370930709274624
21. All of the beachfront parcels on Spy Island in REACH are now gone. https://www.market.reachmetaverse.org/map
22. The LexPunk Army is making public a copy of the Digital Commodities Consumer Protection Act that is making the rounds in Washington. https://github.com/LeXpunK-Army/Crypto-CaseLaw/blob/main/DCCPA%20Markup%20Latest%2010.19.22.pdf
23. Here’s some great analysis on the leaked DCCPA draft. https://twitter.com/ianDAOs/status/1582897980935266304
24. SBF floats his ideas on crypto regulation and people aren’t happy about it. https://www.ftxpolicy.com/posts/possible-digital-asset-industry-standards https://twitter.com/SBF_FTX/status/1582835426116575235
25. Liqwid’s Agora code audit is 50% done. https://twitter.com/DCdoso/status/1583152577079701505
26. It looks like the new info coming out of the SEC on NFTs is already having an effect on decisions made by NFT projects. https://twitter.com/Canadian4Crypto/status/1583090643043516416
27. ADA Realm just did something really important. They made a beach bar and explicitly called it a “bar”. I approve. https://twitter.com/AdaRealm/status/1583190472591568896
28. A certain youtube personality seems extremely angry at a certain Ethereum personality. https://twitter.com/WatcherGuru/status/1583202589654495232 https://www.youtube.com/watch?v=o2dhgZopyBs
29. Even Representative Tom Emmer of the US Congress says we shouldn’t sacrifice decentralization or DeFi in the name of new crypto legislation. https://twitter.com/RepTomEmmer/status/1582915646157131779
30. A user on FTX is reporting that he had $1.5MM USD stolen from his account. Another person is reporting a loss of $2MM USD. Brutal! The discussion seems to mention possible compromise of 3commas trading software API Keys by the attackers. The team behind 3Commas seems to be pointing to a phishing strategy by the attackers. https://twitter.com/littlesand2/status/1583830658203283456 https://twitter.com/3commas_io/status/1583571729628004352
31. Shahaf Bar-Geffen makes a very important point about your future as an AI with whom your great grandchildren might interact. https://twitter.com/shahafbg/status/1584244982537277440
32. Sam Bankman-Fried responds to a question about why FTX hasn’t listed spot ADA.
33. Just the metrics examines Aptos as compared to more decentralized blockchains like Cardano. https://twitter.com/Soorajksaju2/status/1584133947227013120
34. The ETH/EVM world is having a hard time right now trying to hash out how much of their DeFi is going to fall under the control of regulators. https://twitter.com/JonnyRhea/status/1584252081493667842 https://twitter.com/lex_node/status/1584180230297890817 https://twitter.com/SBF_FTX/status/1584184430117425152
35. MuesliSwap has completed its transition to MuesliSwap v2! https://twitter.com/MuesliSwapTeam/status/1584650148273336320
36. Liqwid mentions that they’ve been working with Platonic Systems and it has accelerated their launch timeline. https://twitter.com/liqwidfinance/status/1584587690712104960
37. Apparently, Apple has decided that Apps in the App Store aren’t allowed to sell NFTs that unlock features in the App. https://twitter.com/wongmjane/status/1584609845570768897
38. It’s reported that Twitter is working on a crypto wallet. People surmise this is an impetus for Elon’s purchase. https://twitter.com/CaitlinLong_/status/1584729157401202688
39. The Pavia map is looking a lot fancier. https://pavia.io/map
40. Reportedly, this video is of a fox walking past 10 Downing Street ( https://twitter.com/itvnews/status/1584976609232445440) as Rishi Sunak prepares to take his position as the next Prime Minister of the UK. No idea if this is actually current or if the fox was voluntarily there or planted. We already know that Rishi Sunak seems to be very pro-CBDC and likes BAYC more than Crypto Punks. Sunak is a familiar figure from back in April when, as Chancellor of the Exchequer he declared: “It’s my ambition to make the UK a global hub for cryptoasset technology…” https://twitter.com/hmtreasury/status/1468193641638207489 https://twitter.com/tier10k/status/1584635528695017472 https://www.gov.uk/government/news/government-sets-out-plan-to-make-uk-a-global-cryptoasset-technology-hub https://twitter.com/greyskulledm/status/1511026486798651393
41. There are reports that the UK House of Commons also voted to treat cryptocurrencies as regulated financial instruments. Apparently there was even language around the inclusion of stablecoins. https://www.yahoo.com/now/uk-lawmakers-vote-recognize-crypto-153128469.html
42. NMKR now has a function for you to auction off any NFT. https://twitter.com/nmkr_io/status/1584975658777972736
43. Here’s the link if you missed the Rare Bloom Keynote from Charles. https://www.youtube.com/watch?v=TZ8K8FW72BA
44. US cryptolaw is turning into the worst export ever. https://twitter.com/lex_node/status/1584962177739653121 https://twitter.com/brian_armstrong/status/1585001996490510336
45. Nami Wallet Version 3.4.1 is out now! https://twitter.com/berry_ales/status/1585395882605903879
46. Apparently, people are now paying for telemedicine on Cardano! https://twitter.com/Citaldoc/status/1583548196927983616?s=20&t=hK3-IVgaiGG7V7voRgiOuA
47. Looks like A16Z is getting stung by this crypto winter! How do you say 40% mark down in their fancy abbreviation system? https://www.wsj.com/articles/andreessen-horowitz-went-all-in-on-crypto-at-the-worst-possible-time-11666769270
48. Elon musk just walked into Twitter HQ with a literal sink in his hands saying “let that sink in”. This could have a significant impact on crypto if his purchase is related to the potential of Twitter as a payments network as some have surmised.
49. Elizabeth Warren & AOC seem mad that crypto is now engaging in effective lobbying just like their buddies in big tech. https://punchbowl.news/wp-content/uploads/10.24-Letters-to-Regulators-re-Crypto-Revolving-Door.pdf https://www.opensecrets.org/members-of-congress/alexandria-ocasio-cortez/summary?cid=N00041162 https://www.opensecrets.org/members-of-congress/elizabeth-warren/summary?cid=N00033492
50. The Monetary Authority of Singapore has proposed new crypto regulations with a special focus on stablecoins. https://www.mas.gov.sg/news/media-releases/2022/mas-proposes-measures-to-reduce-risks-to-consumers-from-cryptocurrency-trading-and-enhance-standards-of-stablecoin-related-activities
51. Everyone who saw the “Day in the Life of a Meta PM” video comes away shocked at the -20% dive after the earnings report. Was the culprit rooftop avocado toast and lattes, the $3.9 billion lost on the metaverse, or the (currently) ill-fated stock buy back? Time will tell. (Oct 27). https://twitter.com/zerohedge/status/1585398981995233304 https://twitter.com/unusual_whales/status/1585376066713321472 https://twitter.com/zerohedge/status/1585374381211062273
52. One of the AI generated Tim Beiko tweets is too accurate! https://twitter.com/TimBeiko/status/1585699510243950594
53. Paypal just quietly reinserted the $2500 penalty if you engage in a transaction they think amounts to a “form[] of intolerance that is discriminatory”. https://twitter.com/WallStreetSilv/status/1585643176185823236
54. The World Mobile Aerostat program is amazingly cool. https://twitter.com/WorldMobileTeam/status/1585715475690004481
55. It looks like Army of Spies is in the running for the Educational Influencer award at the Cardano Summit 2022. Vote here: https://voting.summit.cardano.org/nominees
56. Elon has consummated the transaction to acquire Twitter and the slaughter of executives has already begun. https://twitter.com/WallStreetSilv/status/158526910183167181
57. IOG has released a new article on the pros and cons of changing the K parameter vs. changing the minimum fee for stakepools. https://www.essentialcardano.io/article/staking-parameters-and-network-optimization-where-next-for-k-and-min-fee https://twitter.com/InputOutputHK/status/1585600629740896257
58. Even Forbes Crypto is now talking about how Cardano is #3 for NFT volume. https://twitter.com/ForbesCrypto/status/1586628979556917249
59. World Mobile says it is looking to almost double the number of airnodes in Zanzibar by the end of the year. https://twitter.com/WorldMobileTeam/status/1586789320471576576
60. The Cornucopias bridge from BSC to Cardano is coming today! (Oct 31). https://twitter.com/CornucopiasGame/status/1586849014611329024
61. Don’t forget that the Cardano 360 for October is out and available. https://www.youtube.com/watch?v=hZRwLWKNNfQ
62. Erik Voorhees crushes SBF’s logic by asking him to distinguish between KYC for DeFi front ends and KYC for email front ends. https://twitter.com/artofbagholding/status/1586117772005605376 https://twitter.com/ctaggr/status/1586104117197475844
63. If front ends become a focus of regulation, we might have to move to headless dApps. https://twitter.com/ERG_Armeanio/status/1586423711350984704 https://youtu.be/temmjyKpsEU
64. If you missed it check out this post from Pavia. It looks like you need to comment to get on the list for the Plaza test event. https://twitter.com/Pavia_io/status/1585939474030428160
65. It looks like the Cornucopias bridge from BSC to Cardano is now live (as of Oct. 31). https://twitter.com/CornucopiasGame/status/1587110191031541761
66. Check out the new weekly thread series “This Week in Cardano”. https://twitter.com/Soorajksaju2/status/1586813500596232193
67. Sooraj & Laura will also have a new Cardano podcast coming soon. https://twitter.com/Soorajksaju2/status/1586998510892863488
68. Somehow I totally missed this video preview of the cyberpunk themed district of the Pavia Plaza. https://twitter.com/Pavia_io/status/1580554201813618689
69. Elon’s going to make the blue check mark accessible to all for $8 (or the purchasing power equivalent in your country) and also reward content creators. This could have significant effects on crypto ecosystems like Cardano that rely heavily on Twitter. https://twitter.com/elonmusk/status/1587498907336118274
70. Virtua has given us a look at what the entire planet of Virtua Prime will look like including the location of Cardano Island in relation to the other land masses. https://twitter.com/VirtuaMetaverse/status/1587525839628951552
71. Artifct has made a decision to shut down their marketplace. Hopefully, this will mean a focus on the moon metaverse project instead. https://twitter.com/ArtifctApp/status/1587168164336390144 https://discord.com/channels/882364185244237884/882374348638404628
72. Here’s another teaser from the Pavia cyberpunk district. https://twitter.com/Pavia_io/status/1587476665516662784
73. MuesliSwap has revealed some upcoming farming UI changes. https://twitter.com/MuesliSwapTeam/status/1587481326097207298
74. Ardana has revealed a new roadmap. https://ardana.org/roadmap/ https://medium.com/@ardanaproject/roadmap-2-0-the-journey-to-ardana-ba59335c6303
75. FutureFest just participated in the world’s first multi-destination virtual concert along with some other unity projects. https://twitter.com/futurefestxr/status/1587555369810731008
76. ADA Realm is creating “The ADA Realm Council”. Anyone who holds a plot can join to help provide input into the development of the metaverse. https://discord.com/channels/903957555083087892/903971388812050462
77. The U.S. Fed gave us another very unsurprising 75 basis point hike in the federal funds rate today (Nov. 2). This brings us to 3.75-4% which is the highest rate we’ve seen since January 2008. https://www.cnbc.com/2022/11/02/fed-hikes-by-another-three-quarters-of-a-point-taking-rates-to-the-highest-level-since-january-2008.html
78. Apparently, Twitter has a program called Birdwatch that could be used to add “readers notes” to misleading tweets about Cardano. Maybe we should look into this to combat the psyops against Cardano. https://twitter.com/micsolana/status/1587774389264973826
79. Crypto and the Howey Test are on a collision course. https://twitter.com/scotty2ten/status/1587620216938594304
80. Here’s another case of a supposed news outlet trying to pretend like Cardano liquid staking isn’t the biggest and best out there. https://twitter.com/danny_cryptofay/status/1587761429607768064
81. There is speculation that the November announcement might be the actual building of a PEReDi (Privacy Enhanced Regulated Distributed) CBDC. A CBDC that isn’t a panopticon does sound better than the alternative. https://iohk.io/en/research/library/papers/peredi-privacy-enhanced-regulated-and-distributed-central-bank-digital-currencies/ https://twitter.com/Northern_ADA/status/1587805885379842050
82. For November surprise contenders, we also still have the speculation around BMW. https://twitter.com/seenwasad/status/1574144652902555652
83. Looks like IOG just acquired the talents of Dr. Vanishree Rao who led development at Mina! You’ve heard Charles mention some of the innovative work done at Mina in his AMAs. https://twitter.com/timbharrison/status/1588183693599731718
84. Goldman has teamed up with Coin Metrics to unveil a new crypto classification system they are calling Datonomy. Very clever Goldman: data + taxonomy. I’m sure you focus grouped the hell out of that one. https://www.cnbc.com/2022/11/03/goldman-sachs-unveils-crypto-classification-system-aimed-at-institutional-investors.html
85. You can do Cardano smart contract transactions with your Ledger hardware wallet device on an experimental basis. https://twitter.com/Ledger_Support/status/1588114156401856517
86. JP Morgan has now executed its first DeFi trade according to Bloomberg. https://twitter.com/ZeMariaMacedo/status/1588225282850390018 https://www.bloomberg.com/news/articles/2022-11-02/jpmorgan-executes-its-first-defi-trade-using-public-blockchain
87. The way they’re currently structured and operating, a lot of DAOs may get smashed as regulators will just view them as on-chain corporations who sold early stage securities to non-accredited investors. https://twitter.com/lex_node/status/1588184594133749760
88. Jpeg Store now has bundles. This will make it much easier for anyone trying to sell a metaverse estate. https://twitter.com/jpgstoreNFT/status/1588279773331001344
89. Check out this intro to Demeter Run, a “cloud environment with all the tools for building & deploying your Cardano dApp”. https://twitter.com/DemeterRun/status/1582893470015844352
90. Cardanians makes a really good point about Cardano having the largest team in crypto behind it. https://twitter.com/Cardanians_io/status/1588059198461558784

~Army of Spies