Gm fellow degens,
We curate the best educational resources in crypto. Below is a digest of the content featured on The Crypto Illuminati this week.
Tweet of the week:
The 1% are coming for whatever privacy that's left.
$xmr will remain an OG
— The Crypto Illuminati (@0x_illuminati)
Mar 5, 2023
Grab your cup, and let’s dive in ☕
1️⃣ What's the Buzz about Liquid Staking Derivatives?
This post discusses the rise of Liquid Staking Derivatives (LSDs) as a financial instrument and the potential implications of the upcoming Shanghai Upgrade on the Ethereum network.
Key takeaways:
1. Tokens behind projects like Rocket Pool and LDO have seen a surge in value since the start of 2023.
2. The Shanghai Upgrade in March will enable Beacon Chain staked ETH to be withdrawn.
3. LIDO is currently dominating the market and has seen a $240M inflow recently.
What are some of the cons?
1. Stratum for cartelization is a potential risk.
2. Withdrawing stETH could lead to increased revenue, but also increased risks to the Ethereum protocol.
Keep reading 🍿
LSDs are going off the charts…
but not the kind that gives you a trip.
Liquid Staking Derivatives are the real LSDs.
Key Takeaways:
- Tokens behind projects like @Rocket_Pool and $LDO have exploded ever since the start of 2023🔺
- Shanghai upgrade in March💎
🧵👇 https://t.co/U2A9eG8FaH
— The Crypto Illuminati (@0x_illuminati)
Mar 2, 2023
2️⃣ Has Decentralization Been Defeated?
This post discusses the recent regulatory crackdown on BUSD, a US dollar-denominated stablecoin, and its implications for the crypto industry.
Key takeaways:
1. The SEC has labeled BUSD as an unregistered security, leading to a decrease in its market cap.
2. Regulators and innovators are in dispute over the future of digital assets.
3. Stablecoins are not securities, according to Coinbase.
What else is happening as a result?
1. Binance is considering withdrawing from its US partners due to the crypto crackdown.
2. Crypto enthusiasts are reacting to the SEC's labeling of BUSD.
Keep reading 🍿:
Has Decentralization Been Defeated?
$BUSD suffers as regulators stop Paxos from issuing BUSD tokens.
But the truth remains that stablecoins are not securities.
Let's recount 🧵⬇️ https://t.co/PYreH8ev18
— The Crypto Illuminati (@0x_illuminati)
Feb 25, 2023
3️⃣ Does Arbitrum Lead or Follow?
This post discusses the potential of the Arbitrum blockchain and its associated projects, such as FactorDAO, Vela Exchange, GMX, and Tales of Elleria.
Key takeaways:
1. Arbitrum is the fifth largest Layer 1 and Layer 2 blockchain.
2. FactorDAO on Arbitrum brings DeFi to the masses.
3. Over 40 million stablecoins were bridged to Arbitrum last month.
Keep reading 🍿:
Are you ready to flip the coin and discover if @arbitrum leads or follows?
It's time to find out.
Revealing GAME-CHANGING strategies that will blow your mind .
🧵👇
(0/10) https://t.co/D9tnPeH8S6
— The Crypto Illuminati (@0x_illuminati)
Mar 3, 2023
4️⃣ Coinbase launches Base - and Optimism Starts Buzzing Again
This post discusses the launch of Coinbase's Base, an Ethereum L2 network, and the potential benefits it offers to developers.
Key takeaways:
1. Coinbase has launched Base, an Ethereum L2 network that offers a secure, low-cost, and developer-friendly way to build dapps.
2. Base is powered by Coinbase and secured by Ethereum.
3. The OP Stack seeks to maximize interoperability and integrate Base and other L2s into one single Superchain.
Are there any risks?
1. There are potential security risks associated with using an L2 network.
2. There is a risk that the network may not be able to handle the increased demand.
Keep reading 🍿:
The @optimismFND ecosystem is buzzing again 💢
@Coinbase has launched Base, its #L2 Blockchain.
🏗️Built on $OP
Here are the main takeaways⬇️
👇🧵
(0/9) https://t.co/hJtfRsP30P
— The Crypto Illuminati (@0x_illuminati)
Mar 4, 2023