This edition of The Monthly Spin is published on-chain at Mirror.xyz and can be collected at:
https://mirror.xyz/rukawin.eth/fRduYCLI693Jc2nuzbbIY1I4w2-Cra4KAZdmZm6iDM0
The Coinweb Monthly Spin. Seventh Edition. Hello Coinwebbers! In this edition of the Monthly Spin, we are announcing the depreciation of The Daily Spin newsletter – into a weekly version, which will begin publishing next week. So for all of those who have been following our Daily Newsletter column, whether by Reddit, Mirror.xyz, or any other channel… I would like to sincerely thank you all for the support and kind words of encouragement over the months. Barring weekends and holidays, we have managed to publish around 250 editions over the last year – and it has been my pleasure and hope that it has created much value for everyone involved. You guys know where to find me!
So April! Has been a month of steady gains in the crypto asset sector, despite a flailing macroeconomic environment and ever-concerning regulatory environment concerns in both the US and around the world. Bank failures have continued to make landfall due to interest rate shock, as FED Chair Jerome Powell takes the steepest measures to attempt to curb the largest rise in inflation of our generation, meanwhile coming up with creative solutions to keep control of the FED Balance Sheet. The EU has been under tremendous pressure from the issues that have been taking center stage; whether from government wages, retirement and pension fund management, to energy crises and corruption. But one very positive thing has come out of the EU – the approval of the MiCA regulatory framework for digital assets promises to be a beacon of standards that the rest of the world should look to follow.
Conversely, SEC Chairman Gary Gensler has issued enforcement actions on every major crypto player Stateside while maintaining the lack of clarity needed to regulate the industry or have companies come into compliance – prompting an embarrassing intervention from US Congress and ongoing migration of the biggest innovators out of the jurisdiction for good. Meanwhile, the Asian central banks have been pursuing the opposite policy of expansion vs. tightening, as China DGAF and the BoJ remains geared for more growth in their financial markets and liquidity. And to sum it all up, Total Crypto Market Capitalization has been steadily growing past $1.1T dollars, BTC and ETH have hit their local highs, and the Altcoin cycle has spun around faster than a bottle at your typical unsupervised high-school party.
Two more things that must be mentioned in any newsletter format of these days: The explosion of AI into the public sphere, its ultra-fast and independent recursive iterations compounding the tech’s scope and impact faster than anything we’ve ever seen in history. And the second being its direct impact on the capital markets, private equity and venture capital allocations. The banks are really, really fucked. Been a long time coming, too. But as CZ points out, that is not a prerequisite for the success of cryptocurrencies. So without further ado, let’s get into our review of happenings for the first month of Q2!
The Monthly Spin is the newsletter dedicated to our progress as a fast-moving, exponentially-growing project that is committed to being high-touch with our community and providing value in as many ways as we can. So, every month you can find not only our progress, but also general value in the form of blockchain affairs, adoption, education, as well as a thought leadership section for your own personal exploration. You can no longer find The Daily Spin, but now The Weekly Spin, every Monday on our subreddit for curated news and opinions from the world of Blockchain, designed to keep you informed of the most trending, in-the-know, and controversial topics. We strive to keep you informed, connected, curious, inspired, and of course… clinically sane in these crazy yet exciting times that we share today.
Kawin Rungsimuntakul
Editor of The Daily Spin
— Coinweb Community Updates - April —
Events:
Coinweb’s Monthly Event Marks 1 Year Anniversary of Organising “The Best Events in the Crypto Space” feat. KuCoin Labs, Elevate Ventures, and Gangster All-stars
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Coinweb Completes Integration of 4 New Blockchains Delivering Along its Roadmap for Cross-Chain Interoperability
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Coinweb has Closed $2 Million Fundraising Round from SAVA Investment Management
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Content Releases:
Coinweb Prioritises Community Trust with Transparent Reserve Allocation
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CWEB Token Usage and Utility
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Implementing Gas Fee Abstraction on Coinweb
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Community Activities:
China:
Baidu Search "Coinweb - China Regional": 40.8k
Weibo Official Total Views March: 23.1k
Weekly Events with Blockchain Communities(Online)
Weekly One Hour Mini-AMA: 46 participants
In Process: Engage with Executives and Decision-Makers from Firms and Venture Capitals
In Process: Coinweb Chinese Official Channel (Verified)
Vietnam:
Active users 59 (3.78%) New users 41 Avg. DAU 14 Avg. daily msgs. 299 Avg. hourly msgs. 12 Messages 8983
Indonesia:
Eid-Mubarak Airdrop Quests (Crew3) 400$ CWEB (60 comments, 79 retweet, 120 likes and 4971 Viewers)
Active users 117 (4.44%) New users 98 Avg. DAU 17 Avg. daily msgs. 389 Avg. hourly msgs. 16 Messages 12074
Coinweb General Statistics and Milestones:
Coinweb Protocol has 220K Unique Users
Coinweb has completed over 4.18M transactions
239M CWEB Tokens Staked
$345M Total Coinweb Stable Tokens Issued
— Coinweb Technology Updates - April —
Dev-team General Stats:
- merge requests: 181 created, 129 merged
- issues: 124 created, 106 closed
Front-end:
- Explorer search functionality has been extended with ability to show detailed information about legacy CWEB transactions
- introduced claims inspector as a part of the Explorer service
- improved UI interaction with tokens and overall UX for sending/receiving/modifying virtual assets
- more UI fixes and stability improvements for mobile versions of the Wallet, DeconX (cryptocurrency exchange service) and LinkMint (advanced tokenization platform)
Back-end:
# Core
- Shuffler, Jump transaction and Gas Fee Abstraction logic was adjusted even further
- Finished separation of genesis state for production, demo and dev environments
- Math support module was refactored to better address transaction processing specifics in L2 & synchronization of distributed elements
- Code-structure of Core was optimized by removing unneeded modules
- Improved logic for rewards accumulation by different parts of the system
- Implemented logic to handle L1/L2 resyncs more efficiently
- Improved transaction signing procedure
- Various fixes and stability improvements
# Infrastructure
- Rose assistant bot is modified to monitor liveness/readiness of wallet operations using L1/L2 shards in different environments (development, production) and notify devs at once about any malfunctioning
- Coinweb-writer smart-contract template is developed for Cosmos-alike chains
- Introduced snapshotting as an additional method to back-up and transfer L2 state
- Further refactoring of CI/CD pipelines to achieve better deployment sustainability and speed
- Various optimizations for k8s resources usage
# Security, Scalability, & Performance
- Shuffler with its elements is being optimized for performance and avoidance of racing issues, more testing to its elements is added
- Availability and security of Broadcaster was additionally strengthened by proxy/intermediary adjustments
- Added more integration tests for wallets (app, cstdl, broadcaster)
- Liveness/readiness checks for staking elements were refactored
# Wallet & Tokenization Platform
- Introduced wallet-lib wrapper based on WebView
- Added more robustness checks for cstdl-wallet and wallet for the phone app, improved their self-recovery
- Tokens Blacklisting Service was optimized by adding more criteria to classify virtual assets
- Additional ui-command vector-tests added
- Extended information about fees that are returned as a result of sendCweb/sendToken cstd-wallet GraphQL API calls
— On The Radar —
FOMC Meeting, May 2-3 (Washington DC)
Web3 Weekend, May 8-13 (Jakarta)
Consumer CPI Index Print, May 10 (Washington DC)
Bitcoin Miami Conference, May 18-20 (Miami)
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
* Anticipated events that Coinweb team will attend
— Crypto-Industry Headlines —
Please Enjoy the Final Crypto Winter
https://www.coindesk.com/consensus-magazine/2023/04/26/us-crypto-regulations-end-crypto-winter-opinion/
Bye-Bye Bitcoin Bear
https://www.coindesk.com/markets/2023/04/27/bye-bye-bitcoin-bear/
Terra co-founder Daniel Shin and nine others formally charged by South Korea
https://www.theblock.co/post/228098/daniel-shin-terra-co-founder-charged?utm_source=coinstack.beehiiv.com&utm_medium=newsletter&utm_campaign=arbitrum-airdrops-145m-in-tokens-to-daos
Leaders in Decentralized Identity Slam Soulbound Tokens
https://www.coindesk.com/web3/2023/04/27/leaders-in-decentralized-identity-slam-soulbound-tokens/
Cosmos’ Shared Security Model Gets Vote Of Confidence
https://thedefiant.io/cosmos-replicated-security
Polygon partners with Google Cloud as Filecoin breaks into cloud market
https://cryptoslate.com/polygon-partners-with-google-cloud-as-filecoin-breaks-into-cloud-market/
Arbitrum Teams Up With AltLayer In Layer 3 Push
https://thedefiant.io/altlayer-arbitrum-layer3
— Adoption | Regulation —
Consensus 2023 Special Coverage: Banking on Crypto (60mins)
https://www.coindesk.com/tv/special-coverage/banking-on-crypto/
Coinbase suggests SEC action is motivated by Gary Gensler’s own views (14mins)
https://cryptoslate.com/coinbase-suggests-sec-action-is-motivated-by-gary-genslers-own-views/
https://www.youtube.com/watch?v=zq2jf4sBdYE
UK Tax Authority Proposes Changes to Treatment of DeFi Lending, Staking
https://www.coindesk.com/policy/2023/04/27/uk-tax-authority-proposes-legislative-change-to-treatment-of-defi-lending-staking/
Tokenization Is 'Killer App' for TradFi: JPMorgan
https://www.coindesk.com/business/2023/04/27/tokenization-is-the-killer-app-for-tradfi-jpmorgan/
CeFi Exchanges Helped Mass Crypto Adoption; DeFi Will Further It
https://www.coindesk.com/business/2023/04/26/cefi-exchanges-helped-mass-crypto-adoption-defi-will-further-it/
— Education —
The Defiant – 5-step Guide to Not Getting Rekt Trading New Tokens (3mins)
https://www.youtube.com/watch?v=HLJoyMNOnbM
Tokenization of Real-World Assets 'Changes How Value Is Transferred'
https://www.coindesk.com/consensus2023/2023/04/26/tokenization-of-real-world-assets-changes-how-value-is-transferred/
Security lessons and insights from the greatest crypto heists of all time
https://cryptoslate.com/security-lessons-and-insights-from-the-greatest-crypto-heists-of-all-time/
Net Liquidity: A comprehensive look at a vital financial metric
https://cryptoslate.com/market-reports/net-liquidity-a-comprehensive-look-at-a-vital-financial-metric/
— Thought Leadership —
Web3 Can Be 'the Trust Layer' to Counter Issues Raised by AI
https://www.coindesk.com/web3/2023/04/27/web3-can-be-the-trust-layer-to-counter-issues-raised-by-ai/
The Intersection of Blockchain and Artificial Intelligence (60mins)
https://www.coindesk.com/tv/special-coverage/hi-ai/
3 Giga-Brained Ideas From Consensus Day 2
https://www.coindesk.com/consensus-magazine/2023/04/28/3-giga-brained-ideas-from-consensus-day-2/
Why the EU Has MiCA and the U.S. Has Securities Law Confusion
https://www.coindesk.com/consensus-magazine/2023/04/20/why-the-eu-has-mica-and-the-us-has-securities-law-confusion/
This newsletter distributed by Coinweb does not represent its views or endorsements of any products or services found herein. This content is intended for educational and entertainment purposes, and does not constitute financial advice of any kind or nature. When making investments please do your own research and invest responsibly, as doing so may result in the partial or complete loss of funds invested. Beware of scams and fraudulent actions, and always check your sources when making financial decisions or transactions. Coinweb is not a security, and will never ask you for your private information such as your password or seed phrases in all cases. For more information, please refer to our website at http://www.coinweb.io or feel free to contact us through any of our social media channels found in the QR code presented below.
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