1confirmation Newsletter - Issue #92

We're in the midst of two trends that don't show any signs of slowing down as we head into 2021:

Institutional adoption of Bitcoin: Companies like Square and Microstrategy and well-known institutional investors like Paul Tudor Jones and Stanley Druckenmiller bought BTC this year. Many more will likely follow.

Grassroots adoption of Ethereum: Usage of decentralized applications on Ethereum exploded this year and eth2 launched. While BTC is thriving as digital gold, Ethereum is where the new use cases are emerging

There's a a lot of interesting micro trends happening as well, but those are the most important macro trends to be aware of.

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Required reading this week

Over 1 million ETH, worth more than $605 million, has been staked in the Eth2 contract — www.theblockcrypto.com The Ethereum 2.0 staking contract continues to attract deposits, even after the beacon chain was launched last week.

Computer Scientists Achieve ‘Crown Jewel’ of Cryptography — www.quantamagazine.org

A cryptographic master tool called indistinguishability obfuscation has for years seemed too good to be true. Three researchers have figured out that it can work.

Leadership in The Ownership Economy—Scaling Decision Making while Minimizing Securities Risk — variant.fund

Minimizing governance is a goal of crypto protocols, but for necessary and subjective inputs/decisions, leadership can be more efficient than voting. Jesse Walden and Connor Spelliscy explore how crypto founders might continue to lead, alongside compliant user ownership.

The Vampire Diaries - A SushiSwap Case Study — insights.deribit.com

Wangarian and Eugin analyze the rise of Sushiswap via vampire attack and what its long-term value proposition may prove to be.

Governance Minimization — www.fehrsam.xyz

Fred Ehrsam explains why he believes governance minimized protocols will see the most use.

1confirmation portfolio reading this week

Zero to One Billion Dai: Five Years of Growth for MakerDAO — blog.makerdao.com

After more than five years since the concept for the Dai stablecoin was announced, MakerDAO has reached a major growth milestone: 1 billion Dai generated. This infographic details the history made in the last five years.

Custody cover is now live! — medium.com

Users of centralized exchanges and custodians — who are responsible for the safekeeping of their users’ private keys to cryptocurrency assets — will now be able to purchase custody cover from Nexus Mutual.

Introducing Permissionless Digital Art Auctions on SuperRare – SuperRare Editorial — editorial.superrare.co

Cryptoart platform SuperRare launched on-chain auctions this week.

A performance benchmark on mempool services — medium.com

KeeperDAO tested different Ethereum mempool services and found that bloXroute is hands down the best for automated DeFi traders with a large scale trading operation.

Rally Launches Community Activity Rewards — medium.com

Rally communities will earn RLY rewards for their Creator Coin activity.

On-chain metric to watch