Cardano Rumor Rundown August 17, 2022

Hey Everyone!

Let’s go….

Newly Covered Today:

1. Here’s a great thread from Maladex on why total value locked (“TVL”) makes no sense at all as a metric in crypto. https://twitter.com/CardanoMaladex/status/1559552276234215424
2. Ethereum is having a crisis of conscience over the inevitable censorship & loss of permissionlessness that will come out of the Tornado Cash sanctions. https://twitter.com/sassal0x/status/1559357892645437440 https://twitter.com/econoar/status/1559271411658526720 https://twitter.com/freeslave06/status/1559350621714653192
3. The censorship is already there as a practical matter as shown in this interesting thread on more centralization trouble in the world of Ethereum staking/block validation. https://twitter.com/varun_mathur/status/1558905077523484672
4. CZ very convincingly makes the case that the large corporate institutions are already here in crypto. https://twitter.com/cz_binance/status/1559642866787426314

Previously covered, but still interesting:

1. Alessandro Konrad and Thomas Vellekoop are proposing a new metadata standard. https://twitter.com/berry_ales/status/1547592977186312195
2. 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
3. I’ll be in a Twitter Space with Yazan of Virtua at 4pm UTC on July 15! https://twitter.com/VirtuaMetaverse/status/1547664729845514240
4. 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
5. Ardana is hinting at long awaited announcements this week. https://twitter.com/ArdanaProject/status/1549031244104704000
6. 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
7. Time magazine is running a cover about how the metaverse will change everything. https://time.com/6197849/metaverse-future-matthew-ball/
8. 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
9. 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
10. Apparently, IOHK has joined the American Chamber of Commerce in Mongolia. https://twitter.com/AmChamMongolia/status/1549216741045293056
11. Looks like Dubai is planning to add 40,000 metaverse jobs over the next five years. https://twitter.com/Blockworks_/status/1549335302384353280
12. Virtua gave us a preview of the fancaves for large land plots. https://twitter.com/VirtuaMetaverse/status/1549823956504530948
13. Today, Cardano users were discussing the functionality and implications of sending multiple transactions in one Cardano transaction. https://twitter.com/javifs96/status/1549732735828344833
14. 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
15. 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
16. 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
17. 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
18. Coti has released a medium article on the Djed fee structure. https://twitter.com/COTInetwork/status/1550088008254251011
19. It looks like the MuesliSwap Hungry Cows mint was phenomenally successful. https://twitter.com/MuesliSwapTeam/status/1550085557732139008
20. 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
21. Polina Vinogradova on babel fees. https://twitter.com/timbharrison/status/1550557249868816384
22. The 3AC Founders were interviewed by Bloomberg. https://twitter.com/PastryEth/status/1550521333691387905
23. Lyn Alden makes an interesting thread about crypto being a separation of “money and state”. https://twitter.com/LynAldenContact/status/1550960304472956930
24. Here’s an article from SundaeSwap covering the perspective of a dApp team preparing for the upcoming fork. https://sundaeswap-finance.medium.com/the-vasil-hard-fork-from-a-dapp-builders-perspective-9ee454758c16
25. Elizabeth Warren and five other members of the US Congress have asked the EPA to “require reporting of energy use and emissions from cryptominers.” https://www.warren.senate.gov/imo/media/doc/2022.07.15%20Letter%20to%20EPA%20and%20DOE%20Re%20Cryptomining%20Environmental%20Impacts.pdf
26. FutureFest is already working on a plan to have actual humans working in Cardano Metaverses. https://twitter.com/futurefestxr/status/1551607701385318400
27. There is now a “blockchain-in-a-box” project for Java devs to create blockchain solutions that Ergo, IOG, and Hyperledger have been involved in. https://twitter.com/IOHKMedia/status/1551593026568523778 https://www.bitcoininsider.org/article/176881/blockchain-tool-will-allow-java-developers-build-blockchain-solutions
28. Apparently Solana is embracing its “open for business only sometimes” history with actual physical stores. https://twitter.com/Scott_eth/status/1551539635137953793
29. While Cardano’s eras are named after historically significant figures like Voltaire, Basho, Byron, & Shelley; the Ethereum roadmap labels are more like a parody of a reproductive health class. https://twitter.com/VitalikButerin/status/1551603545752870912
30. Is security the biggest challenge facing the mass adoption of Web 3? FYEO thinks so. https://twitter.com/InputOutputHK/status/1551672421769519115
31. Plutus Core programs generated from Typescript are now a thing. https://twitter.com/MicheleHarmonic/status/1551261395295080449 https://www.typescriptlang.org/
32. SpaceBudz has laid out the path to migrate to new art. https://twitter.com/spacebudzNFT/status/1552042478085308418
33. Cardano 360 will be this Thursday (July 28). https://twitter.com/InputOutputHK/status/1551968626470690816
34. Kraken apparently forgot that doing business with Iran is a hot button issue for the US government. https://www.reuters.com/technology/us-crypto-exchange-kraken-suspected-violating-sanctions-nyt-2022-07-26/
35. Senators Toomey and Sinema think you shouldn’t have to pay taxes on crypto purchases or trades under $50. https://seekingalpha.com/news/3860821-us-senators-introduce-bill-that-would-end-taxes-on-small-crypto-transactions
36. For the first time in modern history, the Federal Reserve has executed back-to-back 75 basis point hikes. https://www.cnn.com/2022/07/27/economy/fed-meeting-interest-rates-75-basis-points/index.html
37. Indigo reports that they are now feature complete! https://twitter.com/Indigo_protocol/status/1552268277438619648
38. We now have blockchain tracked clothes on Cardano. But, these shirts are expensive. https://twitter.com/OriginThread/status/1552280610923749384
39. You no longer have to dislike just Meta (Facebook) OR crypto VCs. You can now hate them both simultaneously in the form of their bastard children: Aptos & Sui. https://twitter.com/milesdeutscher/status/1552281885438488577
40. The U.S. Bureau of Economic Analysis showed a -0.9% GDP growth print this morning (July 28). That’s two quarters in a row of negative growth which corresponds to a common definition of a recession although the National Bureau of Economic Research is considered the official arbiter of recessions and marks such events based on a wide range of economic factors analyzed over many months. https://www.bea.gov/ https://www.cnn.com/2022/07/28/economy/us-economy-second-quarter-gdp/index.html
41. The July Cardano 360 was released today. https://www.youtube.com/watch?v=mHHVaxkHFrE
42. The ADA Realm & Actum Games AMA recording is now available in discord. https://discord.com/channels/903957555083087892/913541370436808754
43. CardaStation just onboarded a game developer to their team who spent the last six years at Ubisoft working on games like Riders Republic and Ghost Recon. https://discord.com/channels/908827661504237599/909005782790586379
44. Here’s a mysterious post from Ready Player Me about some news coming from Pavia. https://twitter.com/readyplayerme/status/1552993598022508550
45. The Ledger Nano now supports 100 Cardano native tokens via Ledger Live. https://www.ledger.com/blog/ledger-expands-cardano-support-manage-100-native-tokens-with-ledger-live
46. SundaeSwap now has a monthly video development update. https://www.youtube.com/watch?v=Jc8ZCVCMcXM
47. There was a hack of the Nomad bridge for 150 million that affected several different Cardano projects and wrapped assets in Cardano. https://twitter.com/Oraclecharli3/status/1554266219787784192 https://twitter.com/samczsun/status/1554252024723546112 https://twitter.com/IagonOfficial/status/1554258785690157056 https://twitter.com/GeroWallet/status/1554264725923381248 https://twitter.com/Milkomeda_com/status/1554302195763269632
48. Charles gave us a very concise summary of what’s going on with Vasil. https://www.youtube.com/watch?v=Na09S56FwuY
49. Never forget how many people told us not to worry about the “transitory inflation”. https://twitter.com/patrickbetdavid/status/1554086521468239872
50. As I write over 18k people have signed a petition asking for the removal of Gary Gensler. https://www.change.org/p/retail-investors-fire-gary-gensler-as-sec-chairman-for-obstruction-of-justice
51. Apparently there is a Swiss bank now offering Cardano staking to its customers. https://watcher.guru/news/cardano-staking-available-at-swiss-sygnum-bank-as-ada-moves-to-crush-ethereum https://twitter.com/sygnumofficial/status/1554349276985278464
52. WingRiders posts a thread on the impact of the Nomad bridge hack and how the team responded. The thread will be sure to cause some controversy. https://twitter.com/wingriderscom/status/1554370695919976448
53. As if the Robbery Forest wasn’t busy enough yesterday, there are late breaking reports from today (August 3rd) about some kind of exploit related to the Solana world. https://twitter.com/nftpeasant/status/1554612135992479751 https://twitter.com/SolportTom/status/1554609401369137152 https://twitter.com/magiceden/status/1554620084831674370
54. Charli3 may have some bad news for you if you bought their ERC-20 tokens on the cheap after the hack yesterday. https://oraclecharli3.medium.com/charli3-update-post-nomad-hack-a3cd576237a0
55. The giant gulf between the Cardano approach to smart contract standards and that of our competitors is highlighted amid the Nomad bridge exploit coverage. https://twitter.com/IOHK_Charles/status/1554648163532689408 https://twitter.com/sherlock_hodles/status/1554650723291381761
56. Southrye makes an interesting observation about what I would call one of the bigger differences between Solana and Cardano. https://twitter.com/Southrye/status/1554679752430161922
57. Looks like Michael Saylor’s Bitcoin bet isn’t playing out how MicroStrategy expected. He is no longer CEO. He is now only the Chairman. https://twitter.com/Mayhem4Markets/status/1554560424267366409 https://finance.yahoo.com/news/michael-saylor-microstrategy-ceo-bitcoin-204325431.html
58. Here’s John Woods on the possibility of Algorand/Cardano collaboration. https://twitter.com/StakeWithPride/status/1555001121508249601
59. This article contains allegations that may cast a heavy shadow of doubt on the purported total value locked (“TVL”) of the Solana ecosystem. https://www.coindesk.com/layer2/2022/08/04/master-of-anons-how-a-crypto-developer-faked-a-defi-ecosystem/
60. Pavia has unveiled the first look at one of the eight districts in the Pavia Plaza. This one appears to be Japan themed. https://youtu.be/4YCQPPo_O1U https://twitter.com/Pavia_io/status/1555210549423644674
61. The former President of the New York Fed says a full blown recession is either already here or will be very soon. https://www.cnn.com/2022/08/04/economy/recession-inflation-fed-dudley/index.html
62. BlackRock and Coinbase are now working together to bring crypto exposure to institutional clients. https://www.cnn.com/2022/08/04/economy/recession-inflation-fed-dudley/index.html
63. The US Treasury has added a bunch of Tornado Cash mixer related ETH addresses to their naughty guy sanctions list. Reports are also coming in that Circle has frozen USDC belonging to some of these Tornado Cash users. Hilarious reactions followed. https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/2022080 https://twitter.com/bantg/status/1556712790894706688 https://twitter.com/juthica/status/1556648502658318337 https://twitter.com/bantg/status/1556656916234965000 https://twitter.com/econoar/status/1556752321773576193
64. PWC just did a big metaverse survey of 5k consumers and 1k business leaders that indicated 67% of companies are actively engaged in metaverse projects (beyond just experimentation) and 82% expect metaverse activities to be a part of their normal business activities in the next three years. https://www.pwc.com/us/metaversesurvey
65. FutureFest is putting on a metaverse concert event on Wednesday at 7pm ET. https://twitter.com/futurefestxr/status/1556688896825516032
66. I think we have found the perfect insult: “that’s web2 thinking”. https://twitter.com/matiwinnetou/status/1556681984789086208
67. Celsius and Voyager users are currently worried bankruptcy proceedings might involve a clawback of certain withdrawals from these centralized financial platforms. https://twitter.com/TheRealPlanC https://twitter.com/SimonDixonTwitt/status/1556574979524804609
68. Someone actually did dust a bunch of .eth wallets with ETH from TornadoCash. https://twitter.com/josephdelong/status/1557011056572129280
69. Coinbase reported a $1.1 billion net loss in Q2 vs. $1.59 billion in net income last year in Q2. https://www.cnbc.com/2022/08/09/coinbase-coin-earnings-q2-2022.html
70. Reports are coming in that Curve was exploited for $573k. https://twitter.com/WatcherGuru/status/1557104364690489346 https://twitter.com/CurveFinance/status/1557104676830601216
71. Bank of England researchers are worried the use of cryptoassets in the metaverse could lead to systemic risks. https://bankunderground.co.uk/2022/08/09/cryptoassets-the-metaverse-and-systemic-risk/
72. A law firm representing Pavia has released a “case study” on their work with Pavia. https://twitter.com/StephensonLawHQ/status/1557360513654423559
73. More surprises from the Coinbase quarterly filing: the SEC has sent subpoenas to Coinbase regarding its stablecoin and yield generating products. https://www.sec.gov/ix?doc=/Archives/edgar/data/0001679788/000167978822000085/coin-20220630.htm#ibd16326c8f82466fbb851d71853b44a8_262
74. Virtua gives us a first in-world peek at a game inside their metaverse. https://twitter.com/VirtuaMetaverse/status/1557411483809636352
75. Don’t forget, the Pavia merch claim for plot holders will start today (Aug 11) and run for two weeks. https://discord.com/channels/897161313120321536/897682883471347763
76. Artifct has released some images in their discord that seem to be related to avatars for their moon metaverse. https://discord.com/channels/882364185244237884/920120911414300773
77. CardaStation also provided some in-world footage of the community center they are building. https://discord.com/channels/908827661504237599/909005782790586379
78. Pavia just unveiled their rebrand and new website. https://pavia.io/ https://twitter.com/Pavia_io/status/1557769622320996352
79. Pavia also gave us a much more extensive unveiling of the first district of the Plaza. It’s a narrated fly through with some interesting details. It sounds like the next district will be Cyberpunk. https://youtu.be/EhHuP4Z-aDk
80. Cardano Node 1.35.3, which should be the Vasil hardfork combinator event version if all goes according to plan, was released today (Aug 11). https://github.com/input-output-hk/cardano-node/releases/tag/1.35.3
81. There are some people debating whether the Ethereum Merge will result in tax liability. One of the items discussed is whether ETH holders will essentially be receiving a new coin if proof-of-work miners keep the old chain (and the old PoW ETH coins) alive. https://twitter.com/LucidCiC/status/1557710488955301889
82. Lots of people took a quote from Vitalik about centralization of Ethereum out of context today (Aug 11). He was actually talking about the importance of sharding. https://youtu.be/kGjFTzRTH3Q?t=2167 https://twitter.com/NerdNationUnbox/status/1557260572621766660
83. Wow! The Netherlands arrested the developer of Tornado Cash on Friday (Aug 12). The stakes just got a little higher in crypto. I suspect a lot of crypto platform developers will feel a little less easy about relying on their open source/decentralized credentials as a shield against government action. https://www.fiod.nl/arrest-of-suspected-developer-of-tornado-cash/
84. An interesting point has been made that validating blocks in ETH 2.0 that contain Tornado Cash or other sanctioned transactions would be a violation of the sanctions while not validating those blocks can also lead to financial penalties (“inactivity leaking”) in ETH 2.0. The fear is that this could lead to protocol-level censorship to accommodate sanctions. https://twitter.com/lex_node/status/1558521705244594181
85. Virtua has released a new episode of their podcast with some hints as to what they are building and some interesting discussion around building a virtual world that will operate across different technologies (browser, PC, mobile, etc). https://www.youtube.com/watch?v=2BSl7no82nM
86. The last two episodes of CopiCafe (the Cornucopias podcast episodes 18 & 19) have revealed some interesting details including screen shots of the mobile game, that the fourth zone of Cornucopias will be inspired by the Canary Islands, the Custom Dome sale may happen in the next two weeks if they can beat the Vasil hardfork, development of land staking is in its final stages, & a custom dome video will be coming next week. https://www.youtube.com/watch?v=wvGAGNv86Y0 https://www.youtube.com/watch?v=HnUlXU_tRZY
87. Cornucopias has released the pricing on their custom domes in discord. https://discord.com/channels/829374949587419137/842583414439542805
88. The Robbery Forest strikes again. This time it’s reported to be 1.2 billion printed in AUSD. https://twitter.com/WatcherGuru/status/1558735108672065538 https://twitter.com/AcalaNetwork/status/1558785360670298112
89. IOG Researchers are at Crypto 2022 in Santa Barbara to present the “Ofelimos” Proof of Useful Work (PoUW) paper. https://twitter.com/InputOutputHK/status/1559170170307985409
90. The Cardano Island Land Claim Event is going down next week! https://twitter.com/VirtuaMetaverse/status/1559261587298467841
91. Orbis has released the whitepaper for their L2 ZK-Rollup Protocol. https://papers.orbisprotocol.com/whitepaper.pdf https://twitter.com/orbisproject/status/1559178331433512960
92. WingRiders held a community vote on issues related to the Nomad Exploit Incident. https://twitter.com/wingriderscom/status/1559177924699471873

~Army of Spies