Wednesday, 5th April 2023

This edition of The Daily Spin is also published on-chain at Mirror.xyz and can be collected at:
https://mirror.xyz/rukawin.eth/689kUtgIszWXkhI8RxZ9sF-MqSmh9yneVi0PwK0FZQM

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The Daily Spin. Altcoin Wednesday Edition. Much in the news today as we find a long edition of the Daily – with coverage over Trump’s arrest, Xi’s visit with Macron, the OPEC+ oil supply, and Toronto-Dominion becoming the world’s biggest bank short at $3.7B! Bernard Arnault flies past $200B net worth, world-class douchebag Jamie Dimon chimes in, and Finland officially joining NATO. And not to mention, Elon Musk’s replacement of the Twitter bird with the Doge logo throwing the speculators into a frenzy outside of his impending lawsuit. Dogecoin market capitalization overtook Cardano.

Ethereum hits 10-month high breaking through $1,900 today, just a few weeks ahead of the Shanghai-Capella upgrade where staking is anticipated to become available for withdrawal. A good list of competitor launches and movements following the migration out of CEXs, such as Kava flipping Solana, FLEX pumping up 7% as 3AC founders Kyle Davies and Su Zhu launch OPNX exchange, offering trades of FTX claims. Paxful bows out of the P2P market following significant blows from the SEC. 21Shares launches ETP for Stacks, Aave launches on Polygon zkEVM, and OKex launches a metaverse training sessions with football star Ruben Dias. OpenSea launches Pro, claiming to be “your favorite gem, polished.” And for the second month in a row, Uniswap DEX trade volume has toppled Coinbase’s.

LayerZero’s $120m Series B funding round hits $3B valuation after a $135m raise just last year, with active investment from non-crypto conglomerates such as Samsung and heavyweights a16z. Intriguing articles in the Thought Leadership section today, touching upon derivative DEXs (dYdX & GMX), zkEVMs, and an interview with Ethereum’s first marketer on the meaning of web3… here is our round-up of curated news and opinions (surely biased) from the world of Blockchain, keeping you informed into the market news with the most trending, in-the-know, and controversial topics. In the name of transparent, dissemination of information to keep you curious, inspired, and clinically sane…

Ongoings at Coinweb

CWEB Token Usage and Utility
https://medium.com/@Coinweb.io/cweb-token-usage-913307f8f441

Coinweb has Closed $2 Million Fundraising Round from SAVA Investment Management
https://www.benzinga.com/pressreleases/23/04/a31637718/coinweb-has-closed-2-million-fundraising-round-from-sava-investment-management

The Coinweb Monthly Spin - Sixth Edition: Coinweb Project's Monthly Round-Up and Curated News & Events From The Bleeding Edge of All Things Web3
https://coinweb.beehiiv.com/p/coinweb-monthly-spin-sixth-edition?_gl=1*1lv6vvu*_ga*NjEwNTkwMjc0LjE2NzU3NTc5NjQ.*_ga_E6Y4WLQ2EC*MTY4MDQ5NDg4Mi4yMy4xLjE2ODA0OTU1ODcuMzguMC4w

SoftServe, Ultra, Coinweb, ConsenSys, DSCVR and XDC Foundation on Blockchain Misconceptions
https://thefintechtimes.com/softserve-ultra-coinweb-consensys-dscvr-and-xdc-foundation-on-blockchain-misconceptions/

Coinweb’s Layer 2 marks 4 million transactions milestone
https://twitter.com/CoinwebOfficial/status/1638125472814092291?s=20

Coinweb Partners With Ceffu for Institutional Crypto Custody
https://www.ceffu.com/blog/coinweb-partners-with-ceffu-for-institutional-crypto-custody?utm_source=twitter&utm_medium=organic_social&utm_campaign=cweb0321

Coinweb’s Fireside Chat Series, digitALL: Innovation and Technology for Gender Equality
https://twitter.com/CoinwebOfficial/status/1636676933361745920?s=20“

A Thread on Refereed Delegation of Computation” by Kawin on Twitter
https://twitter.com/CoinwebOfficial/status/1635952081302589441?s=20

Coinweb to bring cross-chain tokenisation to Layer 2
https://cryptoslate.com/coinweb-to-bring-cross-chain-tokenisation-to-layer-2/“

A Thread on L2 Scalability, Network Efficiency and Throughput/TPS” by Anton on Twitter
https://twitter.com/CoinwebOfficial/status/1633424957693915137

A Leading Layer 2 Platform Looking To Tackle Crypto's Interoperability Issue
https://www.benzinga.com/markets/cryptocurrency/23/02/31067514/a-leading-layer-2-platform-looking-to-tackle-cryptos-interoperability-issue“

The Reality of Large-scale Enterprises Adopting Blockchain Technology” an article by Toby Gilbert for CityAM Magazine
https://www.cityam.com/the-reality-of-large-scale-enterprises-adopting-blockchain-technology/

Coinweb Labs is proud to unveil LinkMint 📷📷, our groundbreaking Cross-Chain Tokenisation Platform and DeconX, our integrated native DEX! Live Walkthrough Demonstration for the Community by Toby, Knut, and Alexander.
https://www.youtube.com/watch?v=CSKA3cAB15U“

A Thread on Guaranteed Liveness and the Coinweb Routing System” by Anton on Twitter
https://twitter.com/CoinwebOfficial/status/1630052477579169793?s=20“

A Thread on Rollups, Monolithic, and Modular Blockchains” by Kawin on Twitter
https://twitter.com/rukawin/status/1616342851507613696?s=46&t=BjBOK3soH3kOMbsWEa_jlg

Toby’s full presentation at Token2049-London
https://youtu.be/pdtKx3vAs9c

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On the Radar

Ethereum Shanghai-Capella Upgrade, Apr 12 (On-chain)
Hong Kong Web3 Festival, Apr 12-15 (Wan Chai, Hong Kong)
Consensus 2023, Apr 26-28 (Austin, Texas)

Web3 Weekend, May 8-13 (Jakarta)
Non Fungible Conference, Jun 7-9 (Lisbon)
AIBC Asia, Jul 19-22 (Manila)

TOKEN2049, Sep 13-14 (Singapore)

Blockchain Events curated by CryptoNomad
https://docs.google.com/spreadsheets/d/1KtyFTb_W282bQ1xoVA5rlTwTDz3QfhswWIVpXhpbQIc/edit

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On the Block(chain)

Ethereum jumps to its highest price in 8 months ahead of highly anticipated network upgrade
https://markets.businessinsider.com/news/currencies/ethereum-price-crypto-market-outlook-shanghai-network-upgrade-bitcoin-eth-2023-4?utm_source=reddit.com

Bitcoin crossed 800M transactions in 2023 Q1; price grows 70%
https://cryptoslate.com/bitcoin-crossed-800m-transactions-in-2023-q1-price-grows-70/

Dogecoin Soars After Twitter Replaces Its Blue Bird Logo With the Token's Dog
https://www.coindesk.com/markets/2023/04/03/dogecoin-gains-12-after-tokens-symbol-replaces-blue-bird-as-twitter-logo/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Dogecoin overtakes Cardano after Twitter goes doge-crazy
https://cryptoslate.com/dogecoin-overtakes-cardano-after-twitter-goes-doge-crazy/

Shiba Inu ranks among most viewed crypto assets: CoinMarketCap Q1 report
https://cryptoslate.com/shiba-inu-ranks-among-most-viewed-crypto-assets-coinmarketcap-report/

FLEX jumps 7% as 3AC cofounders OPNX exchange goes live
https://cryptoslate.com/flex-jumps-7-as-3ac-cofounders-opnx-exchange-goes-live/

Staked ETH Withdrawals To Activate In Two Weeks
https://thedefiant.io/defi-daily-staked-eth-april-12

Ethereum MEV bots lose over $25 million in sophisticated attack
https://www.theblock.co/post/224482/ethereum-mev-bots-lose-over-25-million-in-sophisticated-attack?utm_source=cryptopanic&utm_medium=rss

End of Zero-Fee Program Hit Binance Market Share Harder Than CFTC Action: Research
https://decrypt.co/125376/end-zero-fee-program-hit-binance-market-share-harder-cftc-action-research

Peer-to-Peer Bitcoin Exchange Paxful to Suspend Operations
https://www.coindesk.com/business/2023/04/04/peer-to-peer-bitcoin-exchange-paxful-to-suspend-operations/

Allbridge announces recovery plan after recovering $467K of stolen funds
https://cryptoslate.com/allbridge-announces-recovery-plan-after-recovering-467k-of-stolen-funds/

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Competitive Landscape

LayerZero Funding Round Hits $3 Billion Valuation With Backing from Christie’s, Samsung
https://decrypt.co/125291/layerzero-labs-fundraising-christies-samsung-3-billion

Kava Flips Solana As New Lending Protocol Boosts TVL
https://thedefiant.io/kava-tvl-flips-solana

21Shares launches ETP for Bitcoin L2 network Stacks
https://cryptoslate.com/21shares-launches-etp-for-bitcoin-l2-network-stacks/

Aave To Launch on Polygon zkEVM
https://thedefiant.io/aave-polygon-zkevm-deployment

DeFi To Widen Gap With CeFi After Stormy Year
https://thedefiant.io/cefi-vs-defi

For the second month in a row, decentralized exchange Uniswap beats Coinbase in trading volume
https://twitter.com/esatoshiclub/status/1642879360473464833?utm_source=themilkroad.beehiiv.com&utm_medium=newsletter&utm_campaign=the-rise-of-dexs

OKX launches metaverse training session with football star Rúben Dias
https://cointelegraph.com/news/okx-launches-metaverse-training-session-with-football-star-ruben-dias?utm_source=themilkroad.beehiiv.com&utm_medium=newsletter&utm_campaign=the-rise-of-dexs

Introducing OpenSea Pro (Your favorite Gem has been polished)
https://opensea.io/blog/articles/opensea-pro?utm_source=iterable&utm_medium=email&utm_campaign=OPENSEA-PRO_LFC_ANN_ALL_ACT_ENG_VIS_EML_040423&utm_content=opensea-pro

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US. Coordinated Regulation Failures

Wells Fargo has paid more in fines related to harming their customers in the last three years ($7.037B) than all of the money ever lost in crypto hacks and exploits ($6.45b)
https://twitter.com/Tendeeno_/status/1640696054990397440?utm_source=newsletter.bitdegree.org&utm_medium=newsletter&utm_campaign=so-musk-changed-twitter-s-logo-to-doge

Gold breaks out to new highs as US economy starts to slow down
https://cryptoslate.com/insights/gold-breaks-out-to-new-highs-as-us-economy-starts-to-slow-down/

No more rate hikes: Markets believe the Fed rate pause is nigh
https://cryptoslate.com/insights/no-more-rate-hikes-markets-believe-the-fed-rate-pause-is-nigh/

Anti-Bitcoin mining bill gets unanimous approval from Texas Senate committee
https://cryptoslate.com/anti-bitcoin-mining-bill-gets-unanimous-approval-from-texas-senate-committee/

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World

Asia Equities Struggle as US Banking Fears Persist: Markets Wrap
https://www.bloomberg.com/news/articles/2023-04-04/stock-market-today-dow-s-p-live-updates?cmpid=BBD040423_MKT&utm_medium=email&utm_source=newsletter&utm_term=230404&utm_campaign=marketsasia&leadSource=uverify%20wall

Xi Courts Macron in Bid to Drive Wedge Between Europe and US
https://www.bloomberg.com/news/articles/2023-04-04/xi-courts-macron-in-bid-to-drive-wedge-between-europe-and-us?cmpid=BBD040423_MKT&utm_medium=email&utm_source=newsletter&utm_term=230404&utm_campaign=marketsasia&leadSource=uverify%20wall

A Kingdom Built on Oil Now Controls the World’s Climate Progress
https://www.bloomberg.com/news/features/2023-04-03/uae-s-top-oil-executive-has-a-plan-to-fix-cop28?cmpid=BBD040423_MKT&utm_medium=email&utm_source=newsletter&utm_term=230404&utm_campaign=marketsasia&leadSource=uverify%20wall

Toronto-Dominion Becomes Biggest Bank Short With $3.7 Billion on the Line
https://www.bloomberg.com/news/articles/2023-04-04/td-becomes-biggest-bank-short-with-3-7-billion-on-the-line?cmpid=BBD040423_MKT&utm_medium=email&utm_source=newsletter&utm_term=230404&utm_campaign=marketsasia&leadSource=uverify%20wall

Bernard Arnault’s Fortune Soars Past $200 Billion for First Time https://www.bloomberg.com/news/articles/2023-04-04/world-s-richest-man-bernard-arnault-s-fortune-tops-200-billion-for-first-time

Jamie Dimon Warns US Banking Crisis Will Be Felt for Years
https://www.bloomberg.com/news/articles/2023-04-04/jamie-dimon-jabs-fed-over-us-bank-crisis-hiding-in-plain-sight?cmpid=BBD040423_MKT&utm_medium=email&utm_source=newsletter&utm_term=230404&utm_campaign=marketsasia&leadSource=uverify%20wall

Trump Pleads Not Guilty in NY Case Tying Hush Money to Election
https://www.bloomberg.com/news/articles/2023-04-04/trump-pleads-not-guilty-to-34-charges-in-nyc-court-reports?cmpid=BBD040423_MKT&utm_medium=email&utm_source=newsletter&utm_term=230404&utm_campaign=marketsasia&leadSource=uverify%20wall

Finland Becomes 31st Member of NATO
https://www.statista.com/chart/26674/european-countries-by-year-of-joining-nato/?utm_source=Statista+Newsletters&utm_campaign=02892d6840-All_InfographTicker_daily_COM_PM_KW14_2023_Tu&utm_medium=email&utm_term=0_662f7ed75e-02892d6840-345164686

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Thought Leadership

From dYdX to GMX: What Derivatives DEXs Have and Have Not Achieved
https://thedefiant.io/iosg-research-derivative-dexs

zkEVMs: Shaking Up The Ethereum L2 Landscape
https://milkroad.com/news/zkevm-ethereum-l2?utm_source=themilkroad.beehiiv.com&utm_medium=newsletter&utm_campaign=the-rise-of-dexs

Wondering What Web3 Means? Listen to Ethereum's First Marketer
https://www.coindesk.com/consensus-magazine/2023/04/03/wondering-what-web3-means-listen-to-ethereums-first-marketer/

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https://preview.redd.it/8l3cns4760sa1.png?width=743&format=png&auto=webp&v=enabled&s=f4e875938fc40fe05ad6ec84f948d337c4ef4110

Bitcoin narratives

https://www.reddit.com/gallery/12c5fve

My experience with 0.5g Magic Mushrooms

I was at work and took 0.5g Magic Mushrooms (in video game). I've been suspended for about 10 days straight by the way which is why I couldn't respond to anybody. They're getting trigger happy. I guess it's my turn to get on the reddit cross eventually lol.

Someone asked "Why did you only take 0.5g? You should have taken more for a real trip". Well, I did answer him already, but again, I was at work, and there are different methods of consumption for shrooms, nowadays one method is to consume it in what appears to be commercial packaging, mixed in with candy for example in an air tight wrapping. You won't know sometimes what strength anything is, especially if it's in a chocolate bar. Sure, they say it has x amount of grams, but regardless, even one mushroom from a different strain can contain much more pscilocybin than expected. It's smart to give your new product a little try before you go all in. There's nothing to miss out on with shrooms, that I know of. This is very comforting. Shrooms are like Bitcoin, you can just consume more if you want more. Unlike how it is with LSD, where even taking 10 micrograms could increase your tolerance such that taking 1000 micrograms more in the next hour and a half where you start to feel the initial dose will probably have no effect, that I know of, other than perhaps further increasing your tolerance. With just the initial dose of 10ug, 24 hours later you will probably be able to take 100ug and feel the effect of a 60ug dose. Usually it takes about a week or two for LSD to feel like it should. With shrooms, I've never had to worry about tolerance. It's easygoing. I just take more if I want to after I feel it out. With that being said, I would never recommend someone to consume mushrooms in commercial packaging. I'd rather eat the source. I don't know what you put into the chocolate bar. I don't want to have to trust you. I don't want to be on a psychedelic high worrying about how you poisoned me. These things matter. Making good decisions and being patient will make you feel better overall about yourself. No point in being sloppy about it. If other people want to play risky games, so be it. I don't like to depend on other people though. They're simply unreliable. They're there and then they're not. They're smiling and enjoyable to speak to in one moment and in the next, they're not. Other people are undependable outside of the short moments that we share. The more we learn of each other and the more time we spend with each other, the more of their nasty side that I can see, until I see that there's nothing more to see and all that is left is a nasty smelly wall 🧱. I can't let their rotten, cockroach infused DNA meddle with my life experience any longer. The best I can do is trust you to give me some cracker dry mushrooms. That's enough faith for me.

People expect you to have a lot of faith, even to give yourself to a god. I can't do this. During my experience on shrooms, I realized this. It just doesn't make sense. The cultural programming I've received becomes too obvious when I take a psychedelic. In my case, the cultural programming of Christianity is one of the things that hide in my subconscious. It's always there and lurking. Somewhere inside of my brain, Christianity resides permanently, shaping who I am. Taking a psychedelic trip lets me know that this is true because senses become heightened and everything in not only your immediate environment starts to seem more important, but everything else too, like the existence of many religious books and the understanding one may gain not from their surface level appearance but their ability to provide you with an understanding of a generally understood concept which we all find really confusing and which is forbidden to speak on, which is what path to take, who to depend on, who to be led by.

When taking mushrooms, it became obvious that people are headless chickens running around aimlessly. That's it. Value is hard to come by. It's seemingly nowhere to be found. Unfortunately, people really don't care about each other. They will walk by as you scream asking for help with an annoyed look on their face. Unless they know you, they most likely want you to shut up and fuck off. This aspect of life is really confusing, disappointing and dangerous.

What loomed over my head is the feeling that I'm being watched by an evil force. This feeling is common from my understanding, I remember a friend telling me the same thing when we both took a decent dose of LSD. Now, I think I've come to understand what I mean by this. It's a feeling that isn't freedom. It isn't peace. It isn't heaven. I can't walk around and feel free, if I do it's a delusion and a sickness. Otherwise worded as an evolutionary adaptation, also described by normies as just being strong. When I'm sober, I feel safe. On shrooms, I can't even take an elevator with other people anymore because I fear getting stabbed. I can't eat their food because I fear feeling poison. What becomes clear when I take it is that I don't like having faith in others. I have contempt for being forgotten. I want to be remembered for who I was and what I stood for, but this isn't the average state of mind. People relegate themselves to being forgotten and not mattering. They tell themselves that they can't do anything to stop evil. Well guess what, that's bullshit. The problem is that they see evil things happening right in front of their eyes and they simply don't do anything about it, ever. Then problems become large scale because we can't even be decent on a small scale. Instead, people are running off of their instincts and doing what feels good at every turn. The understanding behind this concept is as simple as sexual selection. We don't have sex with ugly people because it isn't going to make us feel good. When you have a nice car, it makes people jealous and feel bad, so they do bad things to you because you're a source of their misery. They don't understand it, they just hate you for being strong competition. Making good decisions is something people hate. The closer you get to the truth, the more you distance yourself from the portion of the world who are these headless chickens.

By the time you understand what you're dealing with, you realize that money is really important. The weird thing about slaves is that they can't stop being slaves. They don't want to work together to try to become rich. So when you have things you don't consider to be special they get envious and hate you, such as not having tattoos and being able to show off your arms at work comfortably, or having a cheap car and being frugal. When you just make good decisions like being a minimalist, some people get so bitter that they themselves can't stop doing stupid things and being total jackasses. They can't stop wasting their money on stupid shit and save a dollar for once. Always making an excuse for everything and hating on someone who has achieved something when clearly they could just stop being a little whiny bitch about it and themselves work to attain it. Unfortunately the conflict is eternal. It seems the only way to get them to shut up is to keep growing larger and distancing yourself infinitely. They will only want to interact with you to take from you. When you finally meet them, they want some free shit just for being born. Then they'll take that free shit and give it to someone richer than you. Clown world. To end my post, here's a quote from Niccolo Machiavelli:

Although the envious nature of men, so prompt to blame and so slow to praise, makes the discovery and introduction of any new principles and systems as dangerous almost as the exploration of unknown seas and continents, yet, animated by that desire which impels me to do what may prove for the common benefit of all, I have resolved to open a new route, which has not yet been followed by any one, and may prove difficult and troublesome, but may also bring me some reward in the approbation of those who will kindly appreciate my efforts.

And if my poor talents, my little experience of the present and insufficient study of the past, should make the result of my labors defective and of little utility, I shall at least have shown the way to others, who will carry out my views with greater ability, eloquence, and judgment, so that if I do not merit praise, I ought at least not to incur censure.

When we consider the general respect for antiquity, and how often – to say nothing of other examples – a great price is paid for some fragments of an antique statue, which we are anxious to possess to ornament our houses with, or to give to artists who strive to imitate them in their own works; and when we see, on the other hand, the wonderful examples which the history of ancient kingdoms and republics presents to us, the prodigies of virtue and of wisdom displayed by the kings, captains, citizens, and legislators who have sacrificed themselves for their country, – when we see these, I say, more admired than imitated, or so much neglected that not the least trace of this ancient virtue remains, we cannot but be at the same time as much surprised as afflicted. The more so as in the differences which arise between citizens, or in the maladies to which they are subjected, we see these same people have recourse to the judgments and the remedies prescribed by the ancients. The civil laws are in fact nothing but decisions given by their jurisconsults, and which, reduced to a system, direct our modern jurists in their decisions. And what is the science of medicine, but the experience of ancient physicians, which their successors have taken for their guide? And yet to found a republic, maintain states, to govern a kingdom, organize an army, conduct a war, dispense justice, and extend empires, you will find neither prince, nor republic, nor captain, nor citizen, who has recourse to the examples of antiquity! This neglect, I am persuaded, is due less to the weakness to which the vices of our education have reduced the world, than to the evils caused by the proud indolence which prevails in most of the Christian states, and to the lack of real knowledge of history, the true sense of which is not known, or the spirit of which they do not comprehend. Thus the majority of those who read it take pleasure only in the variety of the events which history relates, without ever thinking of imitating the noble actions, deeming that not only difficult, but impossible; as though heaven, the sun, the elements, and men had changed the order of their motions and power, and were different from what they were in ancient times.