Tabi raised $11M from @BinanceLabs and @animocabrands
It solves two of the biggest headaches in the web3 gaming scene.
A deep dive into @tabichain omni-execution and veToken 3,3 model đ§”đ
Itâs known that traditional blockchains can be complex and hard to integrate with existing web2 platforms, creating a barrier for developers and users transitioning to Web3.
There has also been a huge opportunity to build the next generation of consumer-oriented super apps that leverage web3 technology.
@TabiChain steps in to capitalize on this.
Key Takeaways
âą Tabi Chain simplifies Web3 integration for Web2 developers with its omni-execution layer, bridging fragmented ecosystems. âą Backed by $11M in funding from Binance Labs and Animoca Brands, @Tabichain merges Web2 social traffic with Web3 gaming. âą Voyage I & II rewarded users with over 10M transactions, driving community engagement and expanding Tabiâs ecosystem. âą Flagship game Wizzwoods combines SocialFi with Web3 gaming, attracting 600k+ players in just weeks. âą Testnet v2 is rolling out on September 10 and more updates to follow!
After the disappointment in $ZK airdrop, $KZ will probably be the biggest drop đ
You can earn more @KZ_coin points by: - Bridging on @Orbiter_Finance - Add LP on @koi_finance @syncswap - Trade and Stake on @HoldstationW - Transacting over Paymaster
Token distribution is healthy with no inflation in the next 3 months.
Here is why I think $ATH is undervaluedđ
- Weak selling pressure from investors due to strict vestings
- Over $50M in airdrops as @AethirCloud partnered with @ionet to exchange airdrops + more airdrops potentially from @carv_official @Rivalz_AI @zero1_labs
- Listed on top exchanges like Okx, Bybit.
- Multiple revenue sources: GPU computing power rental, $80M/year - Aethir edge, $999/unit, 7,000 units sold - Node sale, $139M
- Their lead investors are @HashKey_Capital @MeritCircle_IO @animocabrands
Even with the ETFs approved, market is volatile while ZK is being trademarked.
Trump convicted while Biden flips his crypto stance.
Q1 US GDP growth downgraded. Inflation revised downwards.
Everyone planning to sell at $10k with lower TF bullish af đđ§”
Ethereum and ETF Developments âą Spot Ethereum ETFs Poised for Launch âą Controversy Over "Zero-Knowledge" Trademark Attempt âą Do Kwon Settles SEC Fraud Charges âą JENNER Token Controversy Highlights Celebrity Crypto Risks
Crypto Innovations and Market Dynamics âą NYSE and Mastercard Embrace Crypto Innovations âą CME Declines Solana Futures Amidst ETF Doubts
Market overview
Crypto Market âą Trump and Biden Shift Stance on Crypto: In recent campaign events, Donald Trump has vowed to position the US as a leader in digital assets. In response, President Joe Bidenâs team has engaged with key figures in the crypto industry
US Economic Growth and Inflation âą GDP Growth: The US economy expanded at an annualized rate of 1.3% in Q1, down from the previous estimate of 1.6% and significantly lower than the 3.4% growth seen in Q4 2023. This downgrade reflects weaker consumer spending ...
Key Economic Metrics đŽIncreasing geopolitical and trade tensions between the U.S., Europe, and China, focusing on the imposition of significant tariffs by the U.S. on imports of Chinese electric vehicles and other products.
With the ETH ETF approved, I don't think market has fully internalized that yet - ETH ETF approval is too close to BTC ETF - Market participants do not have enough time to digest its impact yet
At the same time, we are underestimating to what ETF flows will do to $ETH : - $ETH exchange levels are at lowest level since 2016 - LRT will accelerate the amount of staked $ETH - $1 of flows into ETH ETF will have much larger effect on price compared to BTC ETF - $ETH is much less inflationary than $BTC
Some stats from @muxprotocol: - Last 7 days, $ETH clearly dominated the trades - However in the last 24H we are seeing a resurgence for $ARB being traded dominating 42%. Followed by $BTC and $ETH - Interesting here becuase $ETH been bleeding after the scam pump on a Holiday Monday to $3950 and today we are seeing $ARB upcoming. - Clearly, we are now in the memesupercycle
2 weeks ago I gave you the perfect entry to buy $BTC at $60k
Donât get shaken out with micro micro cycles within a macro cycle as short-term price action is insignificant
Here are 3 indicators + Perfect cyclicality charting đđ§”
Crypto Market Updates âą SEC Approves Ethereum ETFs Amid Market Uncertainty âą Grayscale Undergoes Leadership Shift Amid Market Challenges âą Gala Games Overcomes $200 Million Token Hack âą Crypto World Mourns Kabosu, the Face Behind Dogecoin
Crypto Exchanges and Platforms âą Bybit Refutes Insolvency Rumors, Ensures Asset Security âą Gate and OKX Respond to Hong Kong's Tightened Crypto Regulations âą Coinbase Restores XRP Trading, Supreme Court Weighs In âą Binance Revises Listing Strategy
Market overview
SEC Approves Spot ETH ETFs Grayscale CEO Departs White House Opposes Crypto Bill Gala Games Hack Major Banks' Bitcoin Holdings Venezuela Cracks Down on Crypto Mining
I am bullish on the most underrated categeory, second after liquid staking = Lending
We saw that Lending reached its ATH in Apr 2024 and the last time it did so was during 2021
This is also one of the most resilient sector despite $BTC breaking below 60k as the TVL for this category did not fall too badly
The current problem with many of these lending protocols is that they are siloed on a certain ecosystem/chain and that liquidity is fragment and inefficient
One that have just publicly launched is @soulprotocol that revolutionizes the lending space by allow collaterals to be borrowed from ANY chains without liquidity fragmentation.
This opens up a whole range of possibilities and unlock a huge amount of liquidity to be used.
It might seem like a godsend feature for ChatGPT to access all your apps like docs and spreadsheets.
But is this a truly good idea?
Perfect because right now, I don't need to know how does formulae work on sheets. This sort of dumbed down the skills required for many people to perform tasks with understanding.
It becomes a world where the best people to hire or best workers are not the ones that knows how to do their job well but rather just getting it done.
The AI revolution will rid of computer jobs/tasks that are repetitive and mundane. We will probably see a demand for more human touch as it becomes more so important now.
Google already made machines that can communicate with machines in languages isn't understood by humans.
Heading into a uncharted territory for AI and decentralised AI will be a huge narrative for this year.
Despite harsh markets $PENDLE $FRIEND was heavily accumulated by Hayes and Machi
AI coins holding strong while we saw a resurgence of memecoins especially CTO ones
Read till the end to get your alpha for 45 early projects đ§”đ
Weekly Updates
This week we cover proposals to improve Ethereum's user experience, integrate AI capabilities, and increase Layer 2 scaling.
EIP-7702 Pectra Hard Fork ORA Other Notable Updates
Narrative Overview
It seems that $BTC experienced a significant price drop on April 30th and May 1st, breaking below the $60,000 support level it had held since early March.
Outflows from cryptocurrency ETFs, with a record $560 million in outflows on May 1st.
However, the market appeared to find a bottom around $56,600 for BTC, and a subsequent bounce occurred, potentially aided by positive news from BlackRock and favorable NFP data.
Resurgence of "memecoin" performance like $PEPE, $WIF , $DOGE , $BONK, and $FLOKI leading the way.
Tesla's accepted $DOGE as payment. There was also a surge in interest around various cat-themed coins, with POPCAT emerging as a leader in this niche.
Markets slaughtered, Tether ratio was never wrong and showed that we are at the lowest point
Alt season indicator back to levels of Sep 2023
Macro indicators are 4x red đđ§”
Crypto Overview
âą FTX Announces Customer Reimbursement âą SEC Issues Enforcement Notice to Robinhood âą Grayscale's Bitcoin Trust Sees Rebound âą Binance CEO Advocates for Detained Compliance Officer âą Movement of Stolen Crypto Funds
Signs of labor market cooling boosted hopes for forthcoming Fed rate cuts, while Biden targeted Chinese tech sectors with new tariffs amid the economic rivalry between the two nations. Economic/Labor Market Trade/Geopolitics Markets
Key Economic Metrics
đŽWhile GDP growth slowed and jobs/wage growth moderated slightly, stubbornly high services inflation driven by the tight labor market has made the Fed more cautious about loosening monetary policy too quickly.
đŽFed maintained a firmly hawkish stance, preparing markets for interest rates to remain restrictive for an extended period until inflation shows sustained downward progress, even as it plans some marginal adjustments to its tightening tools.
đŽEurozone saw an economic growth revival in Q1, providing cause for optimism. But persistent underlying inflation, especially in services, complicates the ECB's policy path and could delay anticipated rate cuts if price pressures prove stickier than hoped.
China Mexico TensionsđŽ
Mexico is caught between taking advantage of economic opportunities with China while balancing pressures from its key trade partner, the United States, amidst the broader U.S.-China strategic tensions playing out globally.
While the long awaited altseason didn't arrive, the restaking protocols fell by up to 50% after $EIGEN airdrop announcement
All these in the midst where market is bleeding and we're seeing the classic sell the news event
All these combined with the fact that there's inherent risk brought in by Eigen's restaking concept and the mountain heaps of projects building on it sounds like what would turn out like a Luna debacle.
Though I like to think that it isn't but its showing signs similar to that of DeFi's yield farming with layers upon layers.
It's still too early to say for sure because we are probably midway through bull and the cards usually fall way after that with serious liquidity crunchtimes.
But I don't like it when after reading 43 pages of @eigenlayer's white paper only to find that they have 2 tokens $EIGEN and $bEIGEN where the latter is being used for actual staking. And in my nothing better to do times, we also say $LUNA and $bLUNA, uncanny resemblance...
Tokenomics $EIGEN: - total supply 1.67B - 45% to community: 15% to each of stakedrops, community initiatives and ecosystem development, respectively - out of 15% stakedrops, 5% based on a snapshot on 15 Mar this year (90% immediately claimable) - 29.5% to investors - 25.5% to team/ early contributors - both of total 55% are subject to 1-year cliff + 2-year vesting Initial float seems ~5%
And looks like for both @pendle_fi and @GearboxProtocol users will get their full point values pre-March 15th and everything else will be s2. Thanks to @Rightsideonly for the frequent update and @PendleIntern for the analysis.
Nonetheless, I am still pretty certain that $EIGEN have some good times to enjoy so lets make the best use of it while we can.
âą ZKasino Scandal: Accusations of Exit Scam Emerge âą ezETH Crisis Sparks DeFi Liquidation and Controversy âą DeGods Considers Returning to Solana Amid Controversy âą Yuga Labs Criticized for WEF Partnership
Crypto Exchanges and Platforms
âą CZ Faces Possible 3-Year Sentence âą Shiba Inu Launches Privacy-Focused Blockchain Upgrade âą OpenSea Sees Significant Drop in Monthly NFT Sales âą Alien Punk CryptoPunk #635 Fetches $12.38M âą "Buy Bitcoin" Notepad Sells for Over $1M
Market overview
The halving sparked record Bitcoin miner revenue and ETF inflows, while Dorsey aims to decentralize mining and Ripple battles the SEC. Inflation data tempered ahead of the Fed meeting, and Tether took action related to alleged sanction evasion using crypto.
Theyâve secured investments from the best: @borderless_cap, @Consensys, @jumpcapital and many more
Partnered with the largest companies in their field @animocabrands, @MercedesAMGF1, @jpmorgan
A lot more catalysts for this game changing tech đ§”đ
What exactly is Account Abstraction (AA)?
Account Abstraction is a revolutionary technology that simplifies on-chain operations and enhances security
It is designed to increase flexibility in the management and behavior of Ethereum accounts
It works by allowing a single contract account to both deal with tokens, and deploy smart contracts
Unlike traditional wallets, where users must manage multiple private keys and interact directly with smart contracts, AA shields users from these complexities.
This leads to benefits like:
âą Social Recovery: Forget seed phrases! Recover accounts via social connections, email, or multi-signature setups.
âą Flexible Transactions: Pay gas fees in any token, or have others sponsor your transactions.