The ongoing economic crisis on a global scale has no impact whatsoever on the IKONIC Metaverse

The ongoing economic crisis on a global scale has no impact whatsoever on the IKONIC Metaverse. The fact that this project was finished off to everyone's satisfaction demonstrates that the time and work that was invested into it was not in vain. A fresh viewpoint on the metaverse has been provided as a result of this research. Anyone who ventures into the IKONIC metaverse is sure to be confronted with a mix of pleasant and unpleasant surprises. Receivers and speakers with NFT capability are necessities for participation in virtual meetings. Participation in a sport in which participants are not subject to discrimination might be beneficial for both you and your spouse, irrespective of either of your gender identities. Tickets to events hosted by the National Football League (also known as NFTs) are presently on sale. These tickets can be used to access a broad variety of sporting and recreational events. As a safety precaution, you should always keep a few additional copies of your data on hand.

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#IKONIC #CRYPTO #BSC #BINANCE #BITCOIN

Why max supply is often a lie

The issue with networks that have a maximum token supply and pre-allocated rewards pool

TL;DR: You should never blindly trust the maximum supply for a token that uses a rewards pool for miners/validators that will eventually run out. There is a high chance their "fixed" maximum supply will need to be adjusted in the future. Most of these networks are being fed subsides like heroin, and they expect the miners/validators to survive on negligible transaction fees alone once the subsidy pool abruptly runs out.

I've been spending a lot of time on Messari.io and TokenTerminal studying tokenomics for dozens of cryptocurrencies. One pattern that has come up over and over again are networks that have:

1. A maximum token supply coupled with
2. A rewards pool that will eventually run out
3. Without any realistic plans to wean off the subsides

This is a huge red flag because when the rewards pool runs out, they will need to find a new source of revenue to pay miners/validators. The transaction fees are often 100x smaller than what's needed to sustain the network. There's a huge chance the supposedly-fixed maximum supply will not hold.

Most of these platforms are trying to grow their networks as fast as possible by attracting users with their low transaction fees, which are only enabled through rewards subsidies. Many of their documentations and roadmaps suggest that transaction fees will cover the revenue. However, transactions on low-fee networks are usually 20-200x smaller than what's needed to economically sustain the network. These plans work if the networks can grow their total transaction fees by 20-200x from their current peak, and remain higher than that during bear markets. That's extremely difficult and often impossible in many cases. Directly increasing fee schedules drives away activity, decreasing overall TPS and fee generation. And many of these networks already get congested if you increase throughput by even 20x, let alone 100x.

In addition, transaction fees are highly-volatile and do not provide a constant revenue stream for miners and validators. Without a constant stream of revenue when the fees are low, miners and validators will leave for a couple of years until they rise again, potentially causing a collapse of network security, leading to a dangerous feedback loop.

Nearly all inflation-discussion threads are dominated by people who just blindly assume token inflation will suddenly end without issues because the documentation says so. It's really naive to believe that without carefully studying the supply distribution and economic incentives for miners/validators.

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Let's look at some case studies of token supply models

In the examples below, I define "issuance" as an increase in circulating/liquid supply, not by token minting. Minting does not affect a token's supply economics until the tokens are actually put into circulation. Note that Messari.io is not 100% accurate due to networks deviating from their documented plans, but it's usually close enough to make fair estimates of supply running out within a year.

Ethereum, Solana, Dogecoin - Sustainable models

Tokens that have no max supply and continuous issuance have a sustainable token supply model.

Ethereum's token burn from its high transaction fees is expected to be enough to offset its token issuance after the merge, so even with no max supply, it's expected to have nearly zero net issuance. Validators will receive a steady flow of revenue even when transactions dwindle.

Polygon - Model not sustainable past 2024

• According to Messari.io, MATIC had 67% inflation in 2022, 31% in 2021, 13% in 2022.
• MATIC has a 1.2B token pool reserved for validator rewards that's expected to run out 5 years after launch. This issue has been brought up many times across various forums, and the Polygon Foundation has ignored it. It's not sustainable past 2024 unless the Foundation pays from their own funds.
• My hunch is that they don't want to admit 10B isn't going to hold as the max supply. MATIC transaction fees need to grow ~30x to cover validator rewards.

Avalanche - Model not sustainable past 2030

• The Avalanche networks are sustained by high inflation, which is how they keep transaction fees low. Validators are paid by a pre-allocated staking rewards pool, and those staking rewards account for a HUGE amount of the annual inflation.
• The vesting schedule leads to a 30% increase in supply in 2022, followed by a 22% increase in 2023.
• Transaction fees are burned, but the transactions fees are so low that the burnt amount is unnoticeable. Burns are in the tens of millions of dollars (TokenTerminal shows $10M in annual fee revenue) while issuance is 100x greater in the billions of dollars. Fees would need to be 100x higher to offset token issuance.
• AVAX issues 45M tokens per year starting at 2025 until it reaches its 720M max supply around Apr 2030. Unless fees grow 100x higher by 2030, AVAX's supply distribution model is going to break in 2030.

Algorand - Model not sustainable past 2030

• Algorand has very high inflation. This has been discussed time and time again while everyone assumes the 10B maximum supply is immutable LAW. The rewards are pre-minted, but there is vesting schedule for those rewards that increases the circulating supply by 49% in 2021, 20% in 2022, 23% in 2023, before tapering off at 9.4% in 2024 and beyond.
• There are multiple rewards pools for relay nodes, validators (prior to 2022), and governance. These pools eventually run out by 2030. Plans for long-term economic sustainability were redesigned to last until 2030. There is no plan for sustainable relay node rewards or governance rewards past then. Validation nodes, which have much lower hardware requirements, are already running on altruism. What's really scary is that nearly all of token issuance is going to relay nodes and will abruptly run out in 2030 at which point they no longer have any economic incentive to stay with Algorand. Participation rewards will also run out then. The only pool left will be the tiny fee sink.
• Transactions fees currently do not pay validators and nodes. They go into a fee sink, but it's currently very tiny and only produces $140k of annual revenue. This is about 100-200x smaller than annual issuance. Thus they are not anywhere close to being able to offset token issuance.
• Another way of looking at this is that there needs to be 3000 TPS of real activity by 2030, 200x higher than its current 15 TPS average.

Fantom - Model not sustainable past 2024

• Fantom's low transaction fees are subsidized. The total annualized revenue from transaction fees is about $2.7m, which is 30x smaller than the amount currently being paid for block rewards.
• Fantom's supply is expected in inflate by 9% in 2022 and 8% in 2023. Supply inflation is currently scheduled to end in 2024, though it might last until 2025 with high token burns. This inflation might need to be extended indefinitely to pay for validators once the 1.0B token rewards pool runs out. The max supply will likely not hold.

Bitcoin

• I'm not going to discuss Bitcoin because the game theory behind post-subsidy miner incentives is extremely complex.
• Instead, see these articles: here, here, here, and here
• We will likely have to wait until 2050 to 2070 to get a better idea.

---

There is a general fix for this problem

1. Introduce steady new issuance (no more fixed max supply) to reduce reward volatility
2. Increase total transaction fees (and token burns) to offset issuance. You can increase this through a mix of higher fees and higher activity (real TPS).
3. Reduce rewards and hope that not too many miners/validators quit.

This is similar to what Ethereum does, but it's hard to copy. Ethereum is only able to achieve this with very high fees, very high sustained demand, and by reducing rewards by 80% when switching from PoW to PoS.

Step 1 to remove the fixed max supply is necessary to keep the network stable. Steps 2 and 3 by themselves are not enough because rewards will be volatile. Rewards during bear cycles will collapse, and miners/validators/participants will leave. This causes rewards and security to collapse even more, leading to a feedback loop of declining activity.

Difficulty of achieving 100x growth in fees: One might think it's easy to achieve 100x growth in total transaction fees by increasing the gas cost by 10x and real TPS activity by 10x. The problem with this assumption is that many low-fee networks are popular due to their low fees. Increasing fees by 10x would scare customers away and reduce overall revenue. Back when Avalanche's C-Chain and Polygon PoS were congested, their smart contract fees were above $1 USD. People are going to keep away from those networks if their fees are increased to over $10. The safer method is to increase real TPS, but many of these networks would get congested at 20-100x their current real TPS.

Lastly, many members of these crypto communities are very proud of their network's fixed maximum supply and have invested under the assumption that they will not change. A change to maximum supply will always be extremely controversial. If it fails to hold, there could be a collapse of faith in that token.

Bitcoin dips to $22.6K, risking further losses if it fails to hold above 200-week MA

BTC price slides back below its 200-week moving average as analysts stress the importance of staying above $22,800 for bullish momentum to continue.

https://preview.redd.it/v1r28xc7p8d91.png?width=717&format=png&auto=webp&s=3c281a74a0cbcf4806e46c2fd14e90105292322c

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The mood across the cryptocurrency ecosystem is noticeably brighter on July 22 after a week of gains helped traders put the events of the past two months behind them and look toward a positive future. 

Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) has been oscillating around support at $23,000 over the past couple of days and continues to hold slightly above its 200-week moving average (MA), which has been a reliable indicator of bear market bottoms in the past.

BTC/USDT 1-day chart. Source: TradingView

As the debate about the market's direction continues to rage, here are the important levels to watch heading into the weekend, according to analysts.

Bitcoin needs weekly close above $22,800

The significance of Bitcoin trading above its 200-week MA was noted by independent market analyst Michaël van de Poppe, who posted the following chart highlighting the major support and resistance zones:

BTC/USDT 1-hour chart. Source: Twitter

According to van de Poppe, Bitcoin is “facing crucial resistance again” at $23,500, and what happens next will determine if its price heads higher or pulls back to support at $21,500. He explained:

“If that breaks at $23.8K, I'm assuming we'll continue and then $28K is on the tables, but we also have a clear breakout above the 200-Week MA confirmed.”

The importance of BTC holding above the 200-week MA was further addressed by market analyst Rekt Capital, who highlighted the need for Bitcoin to see a weekly close above $22,800:

https://preview.redd.it/dl0782yep8d91.png?width=657&format=png&auto=webp&s=cf7e680da2399b9954321bca2b39dd08462f0372

Anticipating a big move

The recent price action is a sign that “a big move for #BTC is going to happen soon,” according to crypto trader and pseudonymous Twitter user CryptoGodJohn, who provided the following chart outlining two possible paths Bitcoin could take:

BTC/USD 1-hour chart. Source: Twitter

CryptoGodJohn said:

“Break above and hold $24,200. I think we squeeze to $27K–$28K fairly quickly. If we start accepting back into the range, I am looking for a flush down to $20K. Pretty easy invalidation on both, stay safe.”

Related: Pro Bitcoin traders are uncomfortable with bullish positions

The possibility of a move in either direction was also noted by the Twitter user Mayne, who posted the following chart addressing the “potential range break out” for Bitcoin.

BTC/USD 12-hour chart. Source: Twitter

They further explained: “Upside could be juicy if we can hold above $22.5k/range high. Lose the range high, this was likely a deviation. The move above range high becomes your risk as you target shorts back into the range.”

Keeping it simple

For those who are more inclined to accumulate and hodl as opposed to focusing on the day-to-day price movements of Bitcoin, market analyst Caleb Franzen offered the following insight to when it would be a good time to dollar-cost average:

https://preview.redd.it/rezjby4np8d91.png?width=662&format=png&auto=webp&s=0242f4320f3d0008cb96db6b0c7b5e436057a3c2

The overall cryptocurrency market cap now stands at $1.048 trillion and Bitcoin’s dominance rate is 42%.

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source: https://cointelegraph.com/news/bitcoin-dips-to-22-6k-risking-further-losses-if-it-fails-to-hold-above-200-week-ma

Germany the most cryptocurrency-friendly country

https://preview.redd.it/bn4xnm81x7d91.jpg?width=877&format=pjpg&auto=webp&s=29474aa30b2026e653461d3c7889060cc1fe4f1b

Germany is the most cryptocurrency-friendly country, the journey from skepticism to enthusiasm for cryptocurrencies: ¿what has allowed Germany to become the most attractive country for cryptocurrency investments?

In her monthly Expert Take column, international tax lawyer and CPA Selva Ozelli addresses the intersection between emerging technologies and sustainability, providing the latest developments in taxes, AML/CFT regulations, and legal issues affecting cryptocurrencies and blockchain.

Germany rose to the top of Coincub's guide to the most cryptocurrency-friendly countries in the first quarter of 2022. The European country allows its long-term national savings sector to use cryptocurrency investments, backed by its zero. tax. crypto policy, and its number of Bitcoin and Ethereum nodes is second only to the United States.

https://preview.redd.it/cwaxsn78x7d91.png?width=1450&format=png&auto=webp&s=d381c25875201a7dde10d973c1f2597a04c15258

Blockchain adoption

In 2019, Germany was the first country to adopt a blockchain strategy to harness the technology's potential to promote digital transformation and help make it an attractive center for the development of blockchain, Web3 and metaverse. applications in fintech, climate tech, business and govtech. including Germany's digital identities project.

The German Savings Bank Association, a network of 400 savings banks in German-speaking countries, has begun developing blockchain fintech apps to allow customers to buy and sell cryptocurrencies. Several companies such as Volkswagen, About You, SAP, BrainBot and BigchainDB have been developing NFT, metaverse, Web3, govtech and crypto payment apps that are widely used in e-commerce for buying goods. Jacopo Visetti, a consultant at C3, a team of traders and investors who support companies working to reduce emissions, quoted:

"C3 is a climate technology company developing an advanced technological infrastructure that allows carbon credits of international standards to be attached to blockchain through tokenization".

To fund the development of these technologies, Roundhill Investments, an ETF sponsor focused on innovative thematic funds, launched the Roundhill Ball Metaverse UCITS ETF on Deutsche Börse Xetra, describing it as Germany's first Metaverse exchange-traded fund. In addition, Germany's Fund Allocation Act allows pension funds, insurers, family offices and corporate investment funds to allocate up to 20 percent of their assets to digital assets.

Adoption of cryptography

By the end of 2021, approximately 2.6% of Germans used cryptocurrencies. And according to a recent KuCoin report, 44% of Germans are motivated to invest in cryptocurrencies.

https://preview.redd.it/yzutu9yax7d91.png?width=1450&format=png&auto=webp&s=e6faacf9f6f2a8273f6aaccd428a0231dfc2fda7

German investors can get involved with cryptocurrencies and blockchain through companies and platforms such as 1inch Exchange, Nuri, FinLab, Minespider, NAGA Group, Tangany, Coindex, CryptoTax, Upvest, Fiona, Blocksize Capital, USDX Wallet, Bitbond and Iota Foundation. or they can buy from Sugartrends using Dash. Mark Mason, Business Relations and Communications Manager at Dash, commented:

"Dash is an alternative cryptocurrency that offers financial freedom without borders. Accelerate financial inclusion by allowing people to use their phones as bank accounts. It's decentralized, permissionless and resistant to censorship."

Germany is among the top 10 countries for cryptocurrency mining and is home to the European Union's largest mining company, Northern Data, which runs almost entirely on renewable energy. Crypto mining is taxable as a business.

Opening

Numerous blockchain startups have set up shop in Germany's crypto capital Berlin, with Apeiron Investment Group, from fintech angel investor Christian Angermayer, backing Berlin-based Denario and Penta, as well as Cologne-based Nextmarket and Frankfurt-based Northern Data.

Paycer, a Hamburg fintech specializing in cryptocurrencies and decentralized finance, is developing a bridge protocol that will aggregate DeFi and cross-chain crypto services and combine them with traditional banking services.

Berlin-based financial technology startup Forget Finance, on the other hand, focuses on motivating young people to save and invest in cryptocurrencies by providing online training through a combination of AI bots and real financial experts.

Central bank digital currency

According to a survey by the Deutsche Bundesbank, Germany's central bank, the proportion of cash payments in point-of-sale transactions by German consumers fell from 74 percent in 2017 to 60 percent in 2020. accounting technology. asset settlements. Meanwhile, the European Central Bank is exploring the creation of a CBDC, called the digital euro. A recent survey commissioned by the ECB, based on discussions with panels of EU citizens, emphasizes security and universal acceptance as major concerns.📷

https://preview.redd.it/mf60zbr4y7d91.png?width=1450&format=png&auto=webp&s=749a1e153930c49811baf8972c373f44758fc78c

Non-fungible Tokens and the Metaverse

The metaverse is the next wave of Web3, changing the way we interact, socialize, work, play video games, fund charities, buy and sell non-fungible tokens, and attend concerts, sporting events, and conferences. In 2017, the ZKM Center for Art and Media in Karlsruhe acquired a number of NFTs, long before the 2021 craze, and now exhibits works from its own collection and private lenders in the "ZKM Cube," an open-air. public. visible cube-shaped canvas. Margit Rosen, head of ZKM's collections, archives and research department, shared the details with me in an interview.📷

https://preview.redd.it/8ig5lqvhy7d91.png?width=1450&format=png&auto=webp&s=f775892ea52d5e0b67f466bd45a95b205f53b424

Since the start of the NFT mania, German sportswear company Adidas has partnered with Bored Ape Yacht Club and Prada for a climate-focused charity NFT art project on the Polygon blockchain to raise awareness. In addition, German automotive company Volkswagen launched a successful interactive NFT advertising campaign.

Brian Shuster, founder and CEO of Utherverse, said:

"Utherverse has been building and operating an online virtual world community where one can socialize in real time, attend events and start a business, since 2005. Utherverse has combined the best of the Internet, gaming and virtual reality for the best experience. of the metaverse. For example, Secret City is a game developed by Utherverse Digital Inc. with 81% of its users in Germany. Having developed over 100 patents and pending patents for core Internet and metaverse technologies, we are the undisputed leader of the metaverse architecture and virtual reality economy. There is a lot of noise related to the metaverse and, frankly, most companies claiming to offer properties and tokens have dangerously underestimated the complexity of the task at hand. Almost every company that has tried to make a metaverse work has failed. The third generation of the Utherverse and its utility token are expected to be introduced in the second quarter of 2022."

Illicit use of cryptography

Germany is a member of Europol's Joint Cybercrime Action Task Force, which works to combat transnational cybercrime. According to a Europol report from 2022:

"The use of this virtual currency for criminal activities and money laundering has grown in recent years in terms of volume and sophistication. [...] The criminal use of cryptocurrencies is no longer limited to cyber criminal activities, but is now related to all types of crimes that require the transmission of monetary value."

After receiving a tip, Germany's Federal Criminal Police Office, or Bundeskriminalamt, took down the servers of Hydra, the world's largest illegal dark web marketplace. Hydra has facilitated more than $5 billion in Bitcoin (BTC) transactions since its launch. Germany's action was followed by the U.S. Treasury Department issuing sanctions against Hydra in a coordinated international effort aimed at "stopping the proliferation of malicious cybercrime services, dangerous drugs, and other illegal offerings" available through the site. based in Russia.

Gurvais Grigg, CTO of Public Sector at Chainalysis, mentioned:

"Hydra's withdrawal is notable not only because it was the largest darknet marketplace in operation, but also because it offered money laundering services that allowed the conversion of cryptocurrencies into Russian rubles."
"Along with sanctions against Garantex, Suex and Chatex last year, government agencies clearly target retirement points that cybercriminals use for ransomware, black market sales, scams and potentially sanctions evasion."

Regulating digital assets

Germany is one of the few countries in Europe that began regulating cryptocurrencies prior to the European Union's Crypto Asset Markets Regulation, or MiCA. According to Robin Matzke, a lawyer and blockchain expert who advised the German Bundestag, Germany's cryptocurrency custody regulations require that those who control private keys on behalf of others and serve the German market receive a license from the Federal Financial Supervisory Authority, regardless of whether they have other similar licenses in the EU.

The new EU Funds Transfer Regulations also provide disclosure rules for "non-hosted" wallets or cryptocurrency wallets not managed by a centralized custodian or exchange. Lone Fønss Schrøder, CEO of blockchain company Concordium, explained:

"The new draft regulations require significant changes to the way current cryptocurrency transfers are done. It could be a big challenge for decentralized crypto solutions that maintain anonymity as a core value and are committed to peer-to-peer (P2P) and self-custody. In addition, the community may prevent many projects from changing their solutions."📷

https://preview.redd.it/4z6aipmjy7d91.png?width=1450&format=png&auto=webp&s=a4c8708be4b52ba2cf882cca9678fe4cb6b32621

I'm actually happy that Tesla sold their Bitcoin. And even happier on how the market reacted at it.

Just yesterday (depending on your timezone) we have had a blockbuster news that Tesla sold 75% of their remaining BTC holdings at an average price of 32k, worth about $1b. 32k was just barely below their average buying price of ~34k. Meaning that they basically directly sold once their turned red on it. But now looking at it I'm happy that this happened.

Tesla is not really a company that is keen to have amazing investments, they are no capital manager or so. They are a car/tech company and that buy in 2021 seemed like a casual hype generator for them and more of Elon Musk having fun with the markets. If they were not capable of holding Bitcoin through like -10% then they don't deserve to have it all. Also it's another institution less for Crypto.

And even better it is how the markets reacted on that news. On the day tesla actually sold markets probably dumbed depending on how much they sold at once or not. But today as the news got out the market barely reacted to it, I mean tesla selling their holding was seen as a black swan event by many but we just went from 23k to 22k.

This shows that most people have come to not follow what big companies are doing, thankfully, but also that most hype investors that just bought on some tweets have already left the markets.

#Heptagon Live Sports Stream in Meraverse world

ICO First Phase sale has started. Focus on #Heptagon Metaverse World. 👉🏻hptgn.io #HeptaToken #metaverseproject #LiveSportsStream #NFTCommunity #NFTProjects #NFTs #Sportnews #nftcollectors #metaversecrypto #metaverseart #CryptoNews #Crypto #Bitcoin [hptgn.io](hptgn.io) MEANING OF HEPTAGON UNIVERSE

• A question without an answer cannot be asked!

To understand the parts of a whole, first looking at the total structure can be considered as a preliminary to the parts.
After that, looking at the Parts, they will spontaneously begin to speak for the ALL.

HEPTAGONDAPP:

With this decentralized application, users will be able to participate in many activities, especially sports, and follow these activities instantly. We are not talking about WEB2 here. Within HeptagonDapp, users step into an environment where they can live all their exciting experiences in a decentralized style.

Users who connect to the platform via HeptagonWallet (HW) or a decentralized wallet compatible with the BSC network and supported by HeptagonDAPP will be able to experience this experience by selecting an “event” from the fixture determined by the platform.

Cardano Rumor Rundown July 22, 2022

Hey Everyone!

Let's go...

Newly covered today:

1. There is a new twitter account called Cardano Heroes tracking the movement of whales from multi-pool stake pool operators to single pool operators. https://twitter.com/ADAHeroes
2. Looks like CFTC Commissioner Caroline D. Pham is publicly opposing the SEC’s take on asset categorization in the Coinbase insider case. https://twitter.com/CarolineDPham/status/1550159347984044033
3. Coti has released a medium article on the Djed fee structure. https://twitter.com/COTInetwork/status/1550088008254251011
4. It looks like the MuesliSwap Hungry Cows mint was phenomenally successful. https://twitter.com/MuesliSwapTeam/status/1550085557732139008
5. Stake with Pride and Emin Gun Sirer remind everyone that staking in a blockchain with slashing is definitionally unsafe. https://twitter.com/StakeWithPride/status/1550152521275953152

Previously Covered but still interesting:

1. 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
2. We have now reached the stage where people are mortgaging their Pavia parcels to access the liquidity. https://twitter.com/FluidTokens/status/1539277134488817666
3. Cardano is now a Gold Member of the Linux Foundation. https://twitter.com/linuxfoundation/status/1539613003422760965
4. 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
5. MinSwap appears to be asking its community to decide on issues around revenue sharing. https://twitter.com/MinswapDEX/status/1539644300237377536
6. 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
7. Here’s the video of Charles testifying before Congress! https://youtu.be/K4ZM2AlGT-s
8. There will be a World Mobile & Charles AMA next week on Tuesday, June 28th! https://twitter.com/WorldMobileTeam/status/1539880960564633600
9. 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
10. 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
11. 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
12. 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
13. 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
14. Virtua gave us a little overhead glimpse of Cardano island. https://twitter.com/VirtuaMetaverse/status/1541126648631812097
15. 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/
16. 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
17. 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
18. 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
19. 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/
20. 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
21. 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.
22. The proposal to trigger the Vasil hardfork combinator event on testnet has now been submitted (June 28). https://twitter.com/InputOutputHK/status/1541800451460431872
23. IOG proposes a “Proof-of-Useful-Work” protocol for Bitcoin to minimize energy cost and carbon footprint. https://twitter.com/InputOutputHK/status/1542166680071278594
24. DeadPXLZ have announced that they will build out a location in Cardano Island. https://twitter.com/pxlzNFT/status/1541853395283329025
25. Lots of additional Virtua Cardano Island information in the AMA from June 28. https://twitter.com/VirtuaMetaverse/status/1541789941130223616
26. 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
27. 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
28. The June Cardano 360 is now out! https://youtu.be/ShBFTaD8nss
29. Charles dropped a new video on the roadmap going forward and governance. https://youtu.be/MwP-omMwd3A
30. MuesliSwap rolled out their long awaited mainnet AMM on June 30. https://twitter.com/MuesliSwapTeam/status/1542485548341891074
31. Reports are coming in that there might be a $2 billion hole in the Celsius balance sheet. Yikes!!! https://watcher.guru/news/ftx-steps-away-from-celsius-acquisition-citing-a-2-billion-hole-in-its-balance-sheet
32. Looks like the EU has possibly found consensus on a comprehensive regulatory framework for crypto. https://www.cnbc.com/2022/06/30/eu-agrees-to-deal-on-landmark-mica-cryptocurrency-regulation.html
33. Apparently, tokens listed on Minswap will automatically be listed on coinmarketcap. https://twitter.com/MinswapDEX/status/1542850619152662529
34. The Virtua plot prices have been revealed. https://cardano.virtua.com/
35. The MuesliSwap AMM (hybrid AMM/orderbook) is now live on mainnet with the first liquidity pool. https://muesliswap.com/liquidity/pools
36. The Vasil hardfork on the testnet was successfully completed today (June 3). https://twitter.com/InputOutputHK/status/1543692218799718401
37. Be aware, there are questions about the originality of the artwork in Spacebudz. The project founders appear to be transparently investigating. https://twitter.com/SpaceWizard5597/status/1544059571563646977 https://twitter.com/CryptoBurnerAkt/status/1543955199060054018 https://twitter.com/IsraELement/status/1543751194581110786
38. Looks like ADA Realm may be hinting at a token announcement of some type later this week. https://twitter.com/AdaRealm/status/1543957815307354112
39. There is new Cardano functionality on Ledger! https://twitter.com/Ledger_Support/status/1543960346699890689
40. Rob Greig mentioned his Cardano Summit NFTs and hinted that there will be new information about NFT utility in Cornucopias. https://twitter.com/RobGreig3/status/1543935125309849600
41. Allen Wu makes some great points about the differences between Cardano’s Ouroboros proof-of-stake protocol and Ethereum proof-of-stake. https://twitter.com/AllenWu29331265/status/1543865378816036864
42. One possible solution to the Spacebudz art problem is a token migration. https://twitter.com/CardanoNoodz/status/1544326010266591233
43. The crypto space is slowly realizing that Cardano has a huge and powerful community. https://twitter.com/dunleavy89/status/1544302686736203783
44. Duncan Coutts talks input endorsers, P2P, and Vasil with CityAM. https://www.cityam.com/1895737-2/
45. It turns out that even some crypto veterans appointing themselves as “Bitcoin Experts” don’t actually understand crypto. https://twitter.com/jimmysong/status/1543364278014582787 https://twitter.com/el33th4xor/status/1006931658338177024 https://twitter.com/adrian_brink/status/1543469963679305729 https://twitter.com/IOHK_Charles/status/1544064073075023872
46. We now have some Artifct Moon updates in discord. https://discord.com/channels/882364185244237884/920120911414300773
47. We’re seeing (possibly deliberate) misinformation out of maximalists of other chains regarding the Vasil Upgrade. The false claim is that current Cardano smart contracts will not be compatible with Vasil. https://twitter.com/timbharrison/status/1544608886073745408
48. The U.S. Department of Commerce’s National Institute of Standards and Technology (NIST) has announced the first four winners of its contest to find quantum resistant algorithms. This is a great step forward that will benefit the crypto space as we move toward an era of quantum computing. https://www.nist.gov/news-events/news/2022/07/nist-announces-first-four-quantum-resistant-cryptographic-algorithms https://twitter.com/IOHK_Charles/status/1544680510781362177
49. Voyager has filed for a Chapter 11 Restructure reportedly due to 3AC exposure. https://www.cnbc.com/2022/07/06/crypto-firm-voyager-digital-files-for-chapter-11-bankruptcy-protection.html https://twitter.com/Ehrls15/status/1544550249519357952
50. Pavia now has a youtube tutorial on how to use their builder tool. https://twitter.com/Pavia_io/status/1544695990434889728
51. There are reports (could be either true or false) that WingRiders may have actually been paid a bounty to reveal the MinSwap vulnerability. https://twitter.com/xyconst/status/1544730222985183233 https://twitter.com/Dubbleu_43/status/1544735751677661184 https://twitter.com/CardanosInsider/status/1544701097360740360
52. Charles is back! Weekly AMAs to resume shortly starting with an episode from Mongolia. https://twitter.com/IOHK_Charles/status/1544801324205633536
53. John Woods is leaving for Algorand. Apparently, he was just filling in for Duncan Coutts while Duncan was on paternity leave. John’s new position should open up opportunities for Cardano to work with Algorand in the future. https://twitter.com/IOHK_Charles/status/1545104714139705346 https://twitter.com/JohnAlanWoods/status/1545060330467799040
54. The Virtua Cardano Island mint began today. There was some confusion because the NFT policy does not appear to be locked. Virtua is saying that’s only for the land deeds which will be used in a land claim event to claim your actual parcel which will come from a locked policy. https://twitter.com/VirtuaMetaverse/status/1545125051955138560
55. Looks like Kevin Hart is partnering with Virtua. https://twitter.com/VirtuaMetaverse/status/1546035980964175872?t=fX59ZL2nRxChi80OOf9pfQ&s=19
56. Here’s a dev report of 10x reduction in script size with the script references that will come with Vasil. https://twitter.com/AncientKraken/status/1545864034083225600
57. There is a very cool new blockchain visualizer for Cardano. https://eutxo.org/ https://twitter.com/conraddit/status/1546221160211283969
58. It looks like the Carda Station racing game is actually live inside their metaverse. https://www.cardastation.com/play/?x=60&y=23
59. Wingriders ads take on a decidedly different tone. https://twitter.com/wingriderscom/status/1546162936187703298
60. It looks like Pavia is getting closer and closer to shipping the new website and new map user interface. https://twitter.com/Pavia_io/status/1546444771325104128
61. Revuto was covered by Cointelegraph regarding their lifetime subscription model for services like Netflix and Spotify. However, there seems to be no mention of the relevant blockchain in the article (Cardano). https://cointelegraph.com/news/croatian-web3-startup-offers-lifetime-netflix-and-spotify-membership-via-nfts
62. Cardano is destroying the competition in terms of YoY growth in on-chain volume according to a new report from Kraken (see p. 5). https://kraken.docsend.com/view/ta9gkuzsp3kssmf6 https://twitter.com/SubcriticalTV/status/1546608709580750852
63. Virtua dropped a Twitter Space AMA today. https://twitter.com/VirtuaMetaverse/status/1545468098337284097
64. It sounds like ADA Realm is inching closer to a fungible coin drop. https://twitter.com/AdaRealm/status/1546859792547069952
65. MuesliSwap v2. https://twitter.com/MuesliSwapTeam/status/1546846207716331526 https://twitter.com/MuesliSwapTeam/status/1546924255241289735
66. It sounds like people who minted on Day 1 or Day 2 of Cardano Island will be getting free avatars and free cars. https://discord.com/channels/684117774171373705/987286409771622410
67. Dewayne Cameron seems to be hinting that it won’t be long now for Liqwid. https://twitter.com/DCdoso/status/1546863953904631810 https://twitter.com/DCdoso/status/1546868449275674625
68. Seven million merchants can now accept Cardano through ADA Pay. https://watcher.guru/news/over-7-million-merchants-can-accept-cardano-using-ada-pays-new-plug-in
69. Cardano is still at the top of the github commit charts. https://twitter.com/ProofofGitHub/status/1546920508977041408
70. MuesliSwap is launching its own NFTs that will boost yield farming. https://medium.com/@muesliswap/hungry-cows-by-muesliswap-nfts-to-boost-your-farming-apr-3fbe4b7a4eed
71. Jimmy Song is back at it with the confused analysis of proof-of-stake. Now even a pixelated dog can ratio him. https://twitter.com/jimmysong/status/1546969248068673537
72. The US CPI inflation number for June for all items was revealed at 9.1%, it’s highest since 1981. Energy and food are both higher at 41.6% and 10.4%, respectively. https://www.bls.gov/cpi/ https://finance.yahoo.com/news/asian-shares-bounce-markets-edge-030445470.ht
73. People are claiming to uncover mind-blowing squandering of funds by 3AC including absurd NFT purchases. https://www.reddit.com/r/CryptoCurrency/comments/vy84rw/3ac_borrowed_millions_from_voyagerblockfi_user/ https://etherscan.io/tx/0x6cca8635f02eb5c14fa66722392a49ae45152bc40f39bef6741ea04054b8a857 https://twitter.com/ravanave/status/1547299512040964096
74. Layoffs have hit even the biggest players in the NFT world. OpenSea is apparently releasing 20% of its workforce. https://twitter.com/dfinzer/status/1547648521607659522
75. FutureFest is talking about creating a metaverse convention for Cardano. This might be a great way to include all the people in the ecosystem who can’t travel to the physical events. https://twitter.com/futurefestxr/status/1547656768724951043
76. IOHK Development Update coming this Friday! https://twitter.com/InputOutputHK/status/1547633660907556871
77. Alessandro Konrad and Thomas Vellekoop are proposing a new metadata standard. https://twitter.com/berry_ales/status/1547592977186312195
78. DripDropz reports they have registered as a money services business with FinCen, will now do AML, and will institute staking. https://twitter.com/DripDropz_io/status/1547694112542822400 https://news.dripdropz.io/drip-staking-rewards-more-3a6b475225ae https://twitter.com/DripDropz_io/status/1547693683721457664
79. I’ll be in a Twitter Space with Yazan of Virtua at 4pm UTC on July 15! https://twitter.com/VirtuaMetaverse/status/1547664729845514240
80. Day 1 of the MuesliSwap Hungry Cows mint went down on July 18 with a very smooth whitelist and random selection process. I hope more projects choose to employ a mint process that looks like this whether whitelisted or not. Not having to worry about your keyboarding speed and connection latency during the request phase was very refreshing. https://nft.muesliswap.com/ https://twitter.com/MuesliSwapTeam/status/1549101020239859713 https://twitter.com/JacobNdelaRosa/status/1549046830914478080
81. Ardana is hinting at long awaited announcements this week. https://twitter.com/ArdanaProject/status/1549031244104704000
82. The founder of Compound thinks all NFTs are Veblen goods. It’ll be interesting watching this play out in Cardano and elsewhere. https://twitter.com/rleshner/status/1548776604402421761 https://en.wikipedia.org/wiki/Veblen_good
83. Time magazine is running a cover about how the metaverse will change everything. https://time.com/6197849/metaverse-future-matthew-ball/
84. The Virtua NFT claim for certain early minters will begin on Wednesday, 20 July at 4pm UTC and run for 24 hours. https://twitter.com/VirtuaMetaverse/status/1549470446046908417
85. The MuesliSwap public mint will be going down on Wednesday, 20th of July, minting requests can be sent between 12 and 8 PM UTC. Minting starts after 8 PM UTC. Similar to the previous whitelist drop, this will be a fair request mint. https://medium.com/@muesliswap/phase-2-hungry-cows-by-muesliswap-public-mint-882c3c6451fa
86. Apparently, IOHK has joined the American Chamber of Commerce in Mongolia. https://twitter.com/AmChamMongolia/status/1549216741045293056
87. Looks like Dubai is planning to add 40,000 metaverse jobs over the next five years. https://twitter.com/Blockworks_/status/1549335302384353280
88. Virtua gave us a preview of the fancaves for large land plots. https://twitter.com/VirtuaMetaverse/status/1549823956504530948
89. Today, Cardano users were discussing the functionality and implications of sending multiple transactions in one Cardano transaction. https://twitter.com/javifs96/status/1549732735828344833
90. Reports are coming in claiming this video shows tanks protecting a bank in China after the bank declared deposits not subject to withdrawal. Others argue this is just a night rehearsal for a parade. In either case, just another reminder about what the crypto space has always said about keys. https://twitter.com/BitcoinMagazine/status/1549808472618926082 https://twitter.com/CarlBMenger/status/1549790500516990979 https://amp.cnn.com/cnn/2022/07/10/china/china-henan-bank-depositors-protest-mic-intl-hnk/index.html
91. Things are heating up between Congress and the SEC and it looks like certain members of Congress are actually on our side. https://twitter.com/RepTomEmmer/status/1549414157925195779

~Army of Spies