Bitcoin pulse, guides and news: 05/03/22

Tuesday, May 3, 2022

The carrington event (x-post from /r/Bitcoin)

https://www.reddit.com/r/Bitcoin/comments/uhz2ly/the_carrington_event/

[Detailed post] The crypto.com "incident" and where to go - breakdown of options

I think I don't need to recap what happened, you all know it.

This post will just be about what (in my opinion) could be possible next moves for everyone fed up with Crypto.com, for all alternatives I will give 1-10 points on 6 topics: Accessibility, Diversity, Acclaim, Fees+Spread, Staking and Credit/Debit Card.

I will leave my referral link below all the options, if you want to check it out and want to support me then I would appreciate if you would use it, it benefits both of us. Thank you very much and now have fun reading.

1 - Binance
If you dealt with Crypto before you know Binance and I dont think I need to explain what exactly it is.
Rating:

Accessibility - 7/10 - The App is confusing for starters, I would say even worse than Crypto.com, the website is a bit better although, as far as I know, binance.us seems to be worse than binance.com
Diversity - 10/10 - With over 600 Coins listed there is not much more that you can wish for as well as with the BNB Ecosystem there are a lot of Alt-Coins based off it as well for risky investments
Acclaim - 10/10 - Binance if for sure one of the more known Exchanges without any major incidents in recent times
Fees+Spread - 9.5/10 - Binance advertises a 0.10% Fee for transactions and has near to no spread.
Staking - 9/10 - There are tons and tons of coins you can stake with APR up to 120% for tokens like AXS offering flexible terms as well as longer lockups
Credit/Debit Card - 8/10 - The Binance debit card is similar to the CDC card, also built up on tiers from the free card with 0.1% cashback up to a card that requires 600 BNB (around 231,000$ at the current rate) with 8% cashback. One of the big differences is, that this card has no lockup. For the calculation of your tier your monthly average BNB holdings are checked, as soon as your average goes lower than one tier it just downgrades your card and the other way around. Transaction fees may occur though with up to 0.9%.

Referral Code: https://www.binance.com/en/activity/referral-entry?fromActivityPage=true&v=3&ref=LIMIT_PZADPISV - Dont ask me what you get for this, I dont understand it myself

2 - Coinbase
Again, like Binance, Coinbase is one of the major Exchanges out there so not much to be said as well
Rating:

Accessibility - 7/10 - The app is not that amazing and same for the website, both are average I would say
Diversity - 7/10 - With only 50 coins there are the major ones and some smaller ones but dont expect too much
Acclaim - 10/10 - Like Binance, Coinbase doesnt have a recent history of incidents and is well known
Fees+Spread - 9/10 - Low Spread but taker fees (fees for instant buys) are ranging from 0.6% for anything between 0-10k to 0.05% for 500mil (which is rather unrealistitc but who knows) as well as maker fees (fees for buys at a specific price) are from 0.4% for 0-10k and 0% for anything over 300mil
Staking - 5/10 - there are not many offers for what to stake and with a maximum of 5% APR its not that impressive
Credit/Debit Card - 8/10 - The coinbase debit card is arguably one of the better cards, it offers up to 4% cashback in different coins but only 1% when you want your cashback in Bitcoin. There is a 2.49% liquidation fee as well when selling crypto to your card. Sadly I cant tell you much more about it as the card is not available in my country.

Referral Code: https://www.coinbase.com/join/1myg9c - 10$ in Bitcoin once you deposit 100$

3 - Celsius
Celsius is focused on crypto loans with low APR (2.8-8.95% depending on how much you borrow against your collateral). You can as well use it to buy and send crypto with Credit Cards or Bank transfers.
Rating:

Accessibility - 8/10 - Celsius has a clean and simple app as well as a nice website which is simple to use.
Diversity - 7/10 - Celsius supports 72 coins from which 24 can be bought directly in their app. Again, most major coins are supported but dont expect any altcoins.
Acclaim - 8/10 - Although it is not known that much it has not had any major problems in recent times.
Fees+Spread - 5/10 - With BTC being priced 1,500$ higher than normal and Ethereum being priced 100$ over its price as well the Spread is quite bad. Additionally there is a fee depending on how you add your funds, credit cards will cost you 3% extra when in Europe and 3.5% for everywhere else. If you chose to use bank transfer it will cost an extra 0.1% for ACH and 0.5% for SEPA deposits.
Staking - 7/10 - Celsius offers staking on all of their coins and does not require lockups. The APR can go up to 17% for some coins but their rates are mostly around the 7% mark.
Credit/Debit Card - ?/10 - The Celsius (Credit) Card is not yet released so I cant rate it yet

Referral: https://celsiusnetwork.app.link/13373112f0 - 50$ in Bitcoin once you deposit and hold 400$ worth of Crypto for 30 days on their app

4 - Nexo
Nexo is like Celsius focused on crypto loans with even lower APR (as low as 0% if you stay below 30% of your collateral). It operates on a Tier based system with higher Tiers having more benefits. Tiers are easy to up- or downgrade though as their highest tier just requires you to have at least 10% of your portfolio's value in their Nexo Token.
Rating:

Accessibility - 9/10 - Nexo has a clean app as well as as simple to use website.
Diversity - 7/10 - With 40 supported coins its again not great, not terrible.
Acclaim - 8.5/10 - For Nexo it is the same as for Celsius with the difference, that they are very transparent with what they are changing, when any why.
Fees+Spread - 10/10 - No fees, little spread but for swapping you actually get cashback of up to 0.5% in your target currency if you have the Platinum tier. Withdrawals cost you only the network fee and 5 of them are free each month if you have Platinum as well.
Staking - 8/10 - For Nexo any coins in your wallet are automatically staked at a flexible term (except if you have it tied up as collateral) and will earn you up to 10% APR on Stable Coins + 2% if you choose to get paid in their Nexo tokens
Credit/Debit Card - 9/10 - The Nexo credit card has no fees other than currency conversion rates. It will let you spend as much as you have in your Credit Line which you can repay bit by bit or all at once but you should know that the loan has around 12% APR so you should repay it as soon as possible. The card also offers you 2% cashback in Nexo tokens or 0.5% in Bitcoin and with it creating debt, spending your crypto will NOT be a taxable event.

Referral: https://nexo.io/ref/flfph2gulb?src=web-link - 25$ in Bitcoin once you deposit and hold 100$ worth of Crypto for 30 days on their app

Now about my choice: I personally will switch to Nexo as it looks great to me, just like CDC did a few months ago.

Disclaimer: Nothing in this post is financial advice and I cannot guarantee that everything I said is correct, also this is my opinion, yours might be different. If I forgot something leave a comment and tell me please.

Thanks for reading all of this, any upvotes or opinions would be appreciated. Have a great day.

Cardano Rumor Rundown May 3, 2022

Hey Everyone!

Let's go...

Newly covered today:

The latest Pavia developer update is out. The builder tool is in development and set for Q2 release. Lots of features and updates revealed including chat features. https://www.youtube.com/watch?v=whnKHNq7f5A
There is a new CopiCafe episode from Cornucopias available. Three will be five parcel sizes. The smallest will be roughly the size of an NBA basketball court (16m x24m). https://www.youtube.com/watch?v=HVnzb8IT3lk
ADA Realm has released a mockup of their avatar and parcel editor. https://twitter.com/AdaRealm/status/1520493365216919553
JPG Store’s new smart contract is open source. They’re offering a $50k bug bounty. https://twitter.com/jpgstoreNFT/status/1520835206659289089
The wider crypto space just noticed that Cardano has done over 100k transactions per day for half a month. https://twitter.com/WatcherGuru/status/1521071194786705408
We are very early in Cardano. The CEO & Founder of eToro just talked to Charles in person and then tweeted with excitement about a few things including NFTs “coming” to Cardano. https://twitter.com/yoniassia/status/1520954005521715207

Previously Covered but still interesting:

Here’s an awesome new dashboard for everything Cardano. https://coindodo.io/cardano/
It’s looking like voice chat will be a thing in Pavia. I love this news. https://twitter.com/Pavia_io/status/1507404360661323789
MuesliSwap Dex Aggregation: Instant Swap. https://docs.muesliswap.com/cardano/quick-swap-beta
MuesliSwap has also released details on their new Muesli Yield Token which will be earned from staking LP tokens. The Muesli Yield Tokens can then be staked to earn call options on the MuesliSwap Milk token at 1ADA. https://docs.muesliswap.com/cardano/muesli-yield-token
According to the recent Charles AMA, the Djed deployment will likely be in H2 to take advantage of the Vasil HFC upgrades. https://youtu.be/baBpzk6EwFE?t=1485
ErgoDex (a cross-chain DEX on both Cardano & Ergo) will hit the Cardano testnet on April 4th! https://twitter.com/ErgoDex/status/1507779151331307539
Here’s a very interesting discussion of stakepool parameters with Dr. Michael Liesenfelt. https://youtu.be/eAs_L68RO-c
Research suggests that ⅔ of all NFT collections are now trading below mint price or not trading at all. Included in the research were 8,400 ETH NFT collections. https://www.bloomberg.com/news/articles/2022-03-26/nft-collection-failures-begin-to-mount-in-flashback-to-ico-bust
Liquid has released details on the utility of the Liqwid Aquafarmer NFTS. Apparently they’ll boost staking rewards in the Agora safety pool with bigger boosts depending on rarity. https://liqwid-finance.medium.com/liqwid-aquafarmers-nfts-mint-utility-and-protocol-owned-liquidity-30b1fae77283
Milkomeda (an Ethereum Virtual Machine sidechain of Cardano) is live! We can now commence doing Solidity stuff better than Ethereum. https://twitter.com/Milkomeda_com/status/1508478019035357189
Here’s the keynote address from Charles at the Dubai Binance Blockchain Week event. https://twitter.com/IOHK_Charles/status/1508553538816733186
Someone has raised the possibility of a bug in Nami wallet with regard to ADA Handles which might result in assets being sent to the wrong ADA Handle. https://github.com/Berry-Pool/nami-wallet/issues/487
Axie Infinity’s Ronin Network was hacked for $625MM in what some are calling the biggest DeFihack ever. https://twitter.com/TechCrunch/status/1508855668035534863 https://mobile.twitter.com/Ronin_Network/status/1508828719711879168
Apparently there’s something big in the March Cardano 360 on Thursday. https://twitter.com/IOHK_Josh/status/1508898702030774277
MuesliSwap has expanded its Milkomeda farms and they now include even AVAX & BNB assets. Apparently, they surpassed $25MM TVL in the first 24 hours. https://twitter.com/MuesliSwapTeam/status/1508801486301671426
Here is the Pavia Stadium against an avatar for scale. https://twitter.com/Pavia_io/status/1508787947172151296
DeFi Llama says it will count Milkomeda TVL as a separate chain instead of toward the Cardano TVL. This could change if Milkomeda has shared security with Cardano one day. https://twitter.com/DefiLlama/status/1508952065284128771
Wave Financial is launching a new ADA Yield Fund to support liquidity in Cardano DeFi with an initial $100 million. https://wavegp.com/wave-financial-launches-ada-yield-fund-to-support-cardano-defi-ecosystem-growth/
It sounds like Nami Wallet has already pushed a fix for the ADA Handle issue and it only had to do with mobile users on 3G. https://twitter.com/adahandle/status/1509282443018182656
Don’t forget! Cardano 360 is today (March 31st)! https://twitter.com/InputOutputHK/status/1508487598154600454
Vitalik suddenly seems interested in Africa and crypto. https://twitter.com/IOHK_Charles/status/1509232370292981760
The European Parliament is voting today (March 31st) on what has been called a “very oppressive” crypto surveillance regime. https://twitter.com/brian_armstrong/status/1509202782015819776
Is it possible that multiple Cardano dexes might be able to ameliorate the plague of impermanent loss like they say? https://twitter.com/GeniusyieldO/status/1509227965086941187 https://blog.maladex.com/maladex-solves-concurrency-scales-beyond-memory-limits-and-designs-the-best-possible-cardano-dex-391d7e519e67
The secret announcement from the March Cardano 360: Snoop Dogg is now in the Cardano ecosystem and has partnered with Clay Nation for a “Baked Nation”. https://twitter.com/The_ClayMates/status/1509583935059202050
The European Parliament has voted in the new law to essentially enforce KYC on self-hosted wallets. https://twitter.com/CoinDesk/status/1509541262302531585
Here’s the March Cardano 360! https://www.youtube.com/watch?v=r6qNwOE9Bvo
Here’s the SEC Staff Accounting Bulletin advising that crypto companies should record a liability on their balance sheets if they are safeguarding crypto assets for clients and Hester Peirce’s response. https://www.sec.gov/oca/staff-accounting-bulletin-121 https://www.sec.gov/news/statement/peirce-response-sab-121-033122
It looks like Grayscale really wants to sue the SEC if there is no approval of their Bitcoin ETF by summer. https://twitter.com/Grayscale/status/1509642795144949761
Some info is being reported on the Clay Nation land sale in their upcoming “virtual environment” including the Baked Nation collaboration with Snoop. https://twitter.com/BigKahunaaa/status/1510269159787175945 https://twitter.com/SunnNFT/status/1510717381433335822
The Cardano Summit 2021 won an award for best digital conference. https://twitter.com/FirstEventUK/status/1509650175375118344
Emurgo has invested in Fourier labs which is attempting to build out Plutus native EVM compatibility. https://twitter.com/emurgo_io/status/1510775123405676544
Here’s some information from Singularity.net on their Hypercycle sidechain/L2. https://twitter.com/singularity_net/status/1509927613011218443
The most recent Liqwid community call is now available. https://twitter.com/liqwidfinance/status/1509938871060115471
Even Greenpeace is now complaining about Bitcoin energy usage. https://twitter.com/GhostchainClub/status/1509907792408326151
The UK is setting its sights on becoming a crypto hub. https://www.gov.uk/government/news/government-sets-out-plan-to-make-uk-a-global-cryptoasset-technology-hub https://twitter.com/greyskulledm/status/1511026486798651393
It sounds like Wingriders is going to have ADA staking for Liquidity Providers in pools that include ADA in the pair. Apparently the LPs will vote on what pool gets the delegation. https://twitter.com/wingriderscom/status/1511009078620868611
Reports are coming in that Coti will launch the Djed testnet this week. https://twitter.com/cotihyp3/status/1510743792864796674
The recent Liqwid community call is available. https://twitter.com/liqwidfinance/status/1509938871060115471
Caitlin Long thinks the US crypto industry will split into three camps. https://twitter.com/CaitlinLong_/status/1511137195746279440
Apparently your ReadyPlayerMe avatar in Pavia will be able to wear Adidas. https://twitter.com/Pavia_io/status/1511408080357101568
Activision is considering NFTs for Call of Duty! https://watcher.guru/news/activision-blizzard-might-incorporate-nfts-into-call-of-duty-games
The MLabs Cardano TX library being built for Seabug (Mlabs upcoming NFT market) will be open source so that other projects can build on this. https://twitter.com/seabugnft/status/1511445943865917447
The Charles/Snoop/Champ Medici/Lena Twitter space is out. Over 64k people tuned in. As unexpected surprises, Warren G (and possibly a silent Busta Rhymes) also popped in. https://twitter.com/IOHK_Charles/status/1511402568420929538
MuesliSwap now has limit swaps as part of their DEX aggregation function. https://twitter.com/MuesliSwapTeam/status/1511356152017264642
Indigo has unveiled a quiz related to its airdrop qualification criteria. https://twitter.com/Indigo_protocol/status/1511421010666749952
Catalyst has launched a new African Incubator along with iceaddis called Ariob. https://twitter.com/InputOutputHK/status/1511691446910427139 https://iohk.io/en/blog/posts/2022/04/05/project-catalyst-launches-incubator-for-africa/
There will be an AMA on April 7 with ADA Realm and their new Unity development partner Actum Games. https://twitter.com/AdaRealm/status/1511779464795070469
If you don’t think our biggest competitor is broken by fees, check out this report of $26 million spent on gas fees in an offering that only raised $8 million. Someone’s making money, but they’re called miners. https://twitter.com/cr0ssETH/status/1511446814196572161
Maladex makes a good point about liquidity in DeFi. https://twitter.com/CardanoMaladex/status/1511811031470952466The future is not going to be 2D. Here is (probably) the first metaverse purchase of a SpaceBudz NFT. https://twitter.com/poly_peer_party/status/1511789839447904266
MinSwap and COTI are looking at how best to integrate Djed into Minswap. https://twitter.com/MinswapDEX/status/1512052790625026052
Here are some questions answered by Ross, Pavia Community Manager. https://www.youtube.com/watch?v=Zc9A4tREvkI
Shocker! Reports of more problems from our most problem ridden competitor.. https://twitter.com/Katsumoto87/status/1512002841501655044
If banks are involved with crypto, they now need to notify the FDIC. https://www.fdic.gov/news/financial-institution-letters/2022/fil22016.html
MuesliSwap is going through a redesign. https://twitter.com/MuesliSwapTeam/status/1512090675021447169
Here’s an excellent thread from Sooraj that explains in very easy-to-understand terms why Cardano’s eUTxO model is superior to ETH’s account balance model. Even Ben Goertzel had to comment on this thread. https://twitter.com/Soorajksaju2/status/1512886236066762762 https://twitter.com/bengoertzel/status/1513177850286813185
You might as well follow that up with his earlier threads on a) why UniSwap v.3 hasn’t solved impermanent loss but the answer may lie in Cardano’s eUTxO architecture; and b) why AMMs are inferior to order book DEXs. https://twitter.com/Soorajksaju2/status/1512110589459546120 https://twitter.com/Soorajksaju2/status/1511819727475294211
The Agora Governance Module from MLabs, Liqwid, and ADAO is now open source. https://twitter.com/liqwidfinance/status/1512414100273471497
Wingriders hints at Ledger compatibility in their DEX. https://twitter.com/wingriderscom/status/1513242395101515778
IOHK introduces the Delegate Representatives concept for Catalyst voting. This seems to embrace the idea that the best form of government is “a republic…if you can keep it.” https://iohk.io/en/blog/posts/2022/04/11/introducing-the-concept-of-delegate-representatives-dreps/
Curious how to pronounce names in Cardano? Here you go. https://twitter.com/AnthonyCardano/status/1513479117483778048
SundaeSwap announces some quality of life improvements for its users. https://twitter.com/SundaeSwap/status/1513605929907933198
WingRiders has already announced details on its Yield Farming that it says will be live on day 1. https://medium.com/@wingriderscom/wingriders-yield-farming-will-be-live-from-day-one-of-mainnet-launch-769095f7ef91
It’s looking like the Bankless podcast wants to have Charles on and he indicated he would do it. https://twitter.com/IOHK_Charles/status/1513621050940170242
WingRiders is live on mainnet and there are stablecoins! https://twitter.com/wingriderscom/status/1513865034115739652 https://twitter.com/wingriderscom/status/1513788413631152130
Soon there will be a list of verified Pavia Asset (PCA) creators. https://twitter.com/Pavia_io/status/1513835187343405058
The MuesliSwap Milk token is now live on the Milkomeda version of the MuesliSwap DEX. https://twitter.com/MuesliSwapTeam/status/1513921544812126210
IOHK wants your input on what should be included in Cardano 360. https://twitter.com/InputOutputHK/status/1513914342642790405
It looks like the Chrome Web Store approval of the new version of the Eternl Wallet has fixed the Ledger compatibility issue that recently cropped up. https://twitter.com/eternlwallet/status/1513789563755503619
Mainstream media is really pulling out all the stops, now labeling crypto people as study-proven “psychopaths”. https://nypost.com/2022/04/12/bitcoin-fans-are-psychopaths-who-dont-care-about-anyone-study-shows/
IOHK gave us a big rundown of all the news from the last ten days (4.12.22). https://twitter.com/InputOutputHK/status/1513951540058411008
It turns out that Pavia land parcel ownership is pretty decentralized. https://twitter.com/Pavia_io/status/1514183930605408266
The ETH Merge to proof-of-stake is delayed again! No firm date has been established. https://twitter.com/TimBeiko/status/1514010098145759232
BlackRock will be the primary asset manager of USDC reserves. It looks like the institutions are fully here in crypto. https://www.coindesk.com/business/2022/04/12/usdc-issuer-circle-raises-400m/
Here’s a very good article from IOHK explaining reference inputs and reference scripts that will be implemented at the Vasil hardfork combinator event in June 2022. https://iohk.io/en/blog/posts/2022/04/13/boosting-cardano-s-throughput-with-script-referencing/
Here’s a great thread on what happens when you have one-way public pressure on a liquidity pool where one of the assets is an otherwise unavailable wrapped stablecoin. https://twitter.com/Doctor__A__/status/1514230061859319815
People are sounding the alarm about two new projects that have launched on Milkomeda. https://twitter.com/NicoArqueros/status/1514603103860903939
The Vasil Hardfork Combinator event is scheduled for June 29th and is on track. https://twitter.com/InputOutputHK/status/1514637134040346628
The April Mid-Month Update is out and available! https://www.youtube.com/watch?v=B0tojqvMgB0
Alessandro (of SpaceBudz, Berry, & Nami) releases Lucid, a Javascript framework to handle Plutus off-chain code. https://twitter.com/berry_ales/status/1514728197438545937
Charles offers to help Elon Musk build a decentralized twitter if Elon’s offer to acquire the company and take it private is not successful. https://twitter.com/IOHK_Charles/status/1514707087128997890
Robbery Forest Heist Alert: Reports coming in that BeanStalk Farms stablecoin protocol was exploited for something like $80 Million. https://twitter.com/BeanstalkFarms/status/1515700678454390785 https://twitter.com/WatcherGuru/status/1515689590841040899 https://twitter.com/Rightsideonly/status/1515692515286224902
The word “Solunavax” is now in Urban Dictionary. https://www.urbandictionary.com/define.php?term=solunavax
Our community is so strong, not even Mt. Everest is safe from our reach. https://twitter.com/ArthurPrestidge/status/1515317980942405632
The robbers in the Robbery Forest have names. The FBI says North Korea’s Lazarus Group & APT38 hacker teams are behind the Axie Infinity theft. https://gizmodo.com/fbi-says-north-korea-behind-biggest-crypto-theft-in-his-1848797691
Very harsh technical and other criticism incoming for Cardano competitor Solana. https://twitter.com/Justin_Bons/status/1514646388688232456
Looks like info might come this week about the Cardano Summit NFTs? https://twitter.com/IOHK_Josh/status/1515462695537246208
Take note if using an EVM sidechain of Cardano: report of a crazy Metamask vulnerability if you enable iCloud backup of app data on an Apple product. https://twitter.com/Serpent/status/1515545812423839745
The wider crypto space is learning that Cardano added 100k wallets in the last month. https://twitter.com/WatcherGuru/status/1516095660424155137
The AGIX ERC-20 converter is now live! https://twitter.com/singularity_net/status/1516069469591908361
Singularity.net is building a metaverse virtual world (Sophiaverse.ai) where AI characters embodied in humanoid avatars will interact with, teach, and learn from players. This could end up being wildly interesting. https://www.sophiaverse.ai/ https://www.youtube.com/watch?v=Kjh-MXd4xnw
Paribus announces it will build an HQ in Pavia. https://twitter.com/paribus_io/status/1512443022801346583
Apparently Indigo Step #3 will close out on Apr 19, 2022. https://twitter.com/Indigo_protocol/status/1516072942395928579
MuesliSwap Mainnet v.2 is here! Now with partial order matching! https://medium.com/@muesliswap/introducing-muesliswap-v2-the-next-generation-of-cardanos-most-popular-orderbook-dex-6b1fc6af64b1
Cardano Ledger App…now with smart contract compatibility. https://twitter.com/Ledger_Support/status/1518927545751773184
The dominos are starting to fall. Now the Central African Republic is adopting crypto as legal tender. https://news.yahoo.com/central-african-republic-adopts-bitcoin-104407031.html
Binance has recovered a tiny portion of the 600 million USD stolen from the Axie Infinity Ronin Bridge. https://cointelegraph.com/news/binance-recovers-5-8m-in-funds-connected-to-ronin-bridge-exploit
Artifct has released info on its Moon metaverse project. https://artifct.app/docs/MoonFlightPlan.pdf
Great thread on the trilogues for the new EU crypto AML rules. https://twitter.com/paddi_hansen/status/1519609822823403521
The Cardano Summit NFTs are finally here (as of Apr 25 2022). https://blog.terravirtua.io/partnership-news/your-guide-to-cardano-summit-nfts/
The April Cardano 360 is ready and waiting for you. https://www.youtube.com/watch?v=b4x5OIy4shU
The biggest NFT collection in the world wants to migrate away from ETH after its metaverse land mint cost $177 million in gas fees. https://twitter.com/yugalabs/status/1520612362986078208
Shocker! Solana is once again “halted”. https://twitter.com/SolanaStatus/status/1520508697100926977

~Army of Spies