1confirmation Newsletter - Issue #79
The S&P 500 is now down 21.2% YTD and the macro environment has started to put public crypto prices to the test. Bitcoin in particular has been referenced as a safe haven asset historically but hasn't acted like it recently as it has traded down with the broader markets. Does this short-term trend mean the safe haven asset narrative is a sham? I don't think so.
While cryptocurrencies certainly aren't immune to short-term liquidity crunches, we believe that a lot of the macro issues facing public equity and bond markets will end up being major positives for cryptocurrencies in the long-run. Negative interest rate policy, distrust in governments, and the rise in internet-based businesses are all macro shifts that cryptocurrencies benefit from. From our perspective, it's never been a better time to be a cryptocurrency entrepreneur.
Required reading this week
Flash Loans: Why Flash Attacks will be the New Normal — medium.com
Haseeb Qureshi explores whether protocols can defend against flash loans and their long-term consequences on DeFi.
Ethereum’s ProgPoW Debate Is About Much More Than Mining — www.coindesk.com
Brady Dale explains how the debate over ProgPoW has become a flashpoint for how Ethereum makes big decisions.
Erasure is an information marketplace where anyone can post a bounty for some data. Built with Authereum.
Introducing saveDai: Insured, Interest Earning Dai for the Masses — defirate.com Learn more about saveDai, a novel ERC20 token which ties together Compound cTokens and Opyn oTokens to provide insured, interest earning Dai.
1confirmation portfolio reading this week
Recent Market Activity and Next Steps — blog.makerdao.com
MakerDAO recaps how the March 12 ETH price drop put stress on the Maker protocol and the next steps to keep the system stable.
Introducing Taki - Rally — medium.com
Rally officially unveils Taki, a new personalized video platform for creators, athletes, and celebrities to interact directly with their fans. Taki aims to remove the hurdles between creators and fans and generate new income streams for creators.
Announcing the initial participants in the Substrate Builders Program — www.parity.io
The Substrate Builders Program identifies, supports, and mentors select teams that are building Substrate-based blockchains, with 17 teams already joining the program.
Understanding Nexus Mutual — medium.com
Nexus Mutual is a discretionary mutual offering an alternative to insurance for Ethereum users. People who join the mutual become members, and members can buy cover to protect themselves against hacks in smart contract code.
Trading fees are being added to dYdX.