1confirmation Newsletter - Issue #83
The third bitcoin halving occurred on May 11th, when the block reward every ten minutes decreased by half, from 12.5 BTC to 6.25 BTC. This makes BTC a scarcer asset at a time when central banks around the world are aggressively printing money.
While the case for BTC as a store of value is growing stronger, so is the case for Ethereum as a platform for innovation. The total value of BTC on Ethereum recently surpassed $47M and there's been several recent Ethereum-based product launches that have the potential to attract millions of new users to the space including Reddit's community points, Uniswap v2 launch and Argent v1 launch.
Required reading this week
May 2020 BVI Letter — www.scribd.com
Paul Tudor Jones was the latest Wall Street billionaire to go long BTC. He shared his bull case in his latest investor letter.
Reddit Rolls Out 'Community Points' on Ethereum to Incentivize Positive Behavior — www.coindesk.com
Reddit recently launched community points as ERC20 tokens on the Ethereum blockchain. This effort immediately introduced Ethereum wallets to millions of new users. See the activity of r/FortNiteBR $BRICKS and r/CryptoCurrency $MOON here.
JPMorgan Bank Takes on Coinbase, Gemini as Its First Crypto Exchange Customers — www.coindesk.com While its CEO once called bitcoin a fraud, U.S. banking giant JPMorgan Chase has added its first cryptocurrency exchange customers, Coinbase and Gemini.
What will it take to scale DEX liquidity? — medium.com
Mona El Isa shares some thoughts and observations on how to scale liquidity in DeFi.
The Crypto Price-Innovation Cycle — a16z.com
Crypto has had three major hype cycles: 2011, 2013, and 2017. Even though the cycles may appear chaotic, Chris Dixon and Eddy Lazzarin show there has actually been steady growth of new ideas, code, projects, and startups.
1confirmation portfolio reading this week
Welcome to OpenSea — opensea.io
An introductory guide to the world of NFTs and using OpenSea.
Results of DOT Redenomination Referendum — polkadot.network
The vote on Kusama to redenominate DOTs 100-for-1 passed, but since the community appears broadly split, no action will be taken for now.
Augur v2 Deployment Update — www.augur.net
Augur recaps the recent progress and decisions for the upcoming Augur v2 deployment.
BTC Perpetual Contract Market is Live — integral.dydx.exchange
BTC-USDC is now live on dYdX. Trade using the BTC Perpetual Market with up to 10x leverage.