Mar 12, 2024

ETH's Big Upgrade ⚙️🏦🍁


ETH's Big Upgrade ⚙️🏦🍁Valko

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Ethereum’s Dencun upgrade is scheduled for tomorrow

The Ethereum Dencun upgrade will go live on mainnet on Wednesday, March 13. Here's what to expect for ETH traders.

⌐◪-◪ → Ethereum developers plan to roll out the much-anticipated Dencun upgrade in less than 24 hours!

The core upgrade here is EIP-4844 proto-danksharding, which uses “blobs” as a new way for rollups to post transaction data. This upgrade alone could reduce scaling network fees by up to 75%.

Another major addition is EIP-1153 Transient Storage, which allows storage to be used only for the duration of a transaction — which enables cleaner smart contracts, saves gas, and simplifies the EVM design.

Those are the main upgrades, but if you want a full breakdown check out this thread from Cygaar.

Fun Fact: “Dencun” is a blend of Cancun and Daneb, to commemorate two separate upgrades merged as one.

Let me know what you think in Specs Chat!

Grayscale files S-1 form to launch ‘mini’ GBTC spin-off for investors

Grayscale filed an S-1 form on Tuesday with the SEC to register a mini version of GBTC, named the Grayscale Bitcoin Mini Trust.

⌐◪-◪ → Grayscale wants the SEC’s permission to launch a Bitcoin “mini” trust under the ticker “BTC”.

The mini will have lower fees and will be seeded by a percentage of GBTC shares. This means existing GBTC investors would benefit from a lower total blended fees without having to pay capital gains for transferring funds.

This move comes after Grayscale’s trading volume dropped to its lowest point on Friday, while its competitors BlackRock and Fidelity accounted for 69% of daily volume.

This is clearly an attempt to stop losing funds to competitors by lowering fees. I just don’t understand why it requires a new “mini” fund, instead of just lowering fees directly in the main fund.

I’m sure there’s a good reason, and it probably has something to do with GBTCs origins as a trust (pre-ETF conversion), but right now that reason isn’t clear to me.

One thing is clear though, low fees are a deciding factor for investors. Shocker.

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Iconic MMORPG MapleStory moves to Web3 with Avalanche

Nexon Group announced its partnership with Ava Labs to launch its online role-playing game MapleStory on the Avalanche network.

⌐◪-◪ → The legendary MMORPG MapleStory just announced a partnership with Ava Labs, and plans to launch “MapleStory N” on a dedicated Avalanche subnet.

Their parent company, Nexon, is the largest game studio in Korea, and they just committed $100M to leverage blockchain technology to expand their franchise to web3.

The company has already seen massive success with mobile games, generating over $600M in cumulative sales from their recent mobile game “MapleStory M”.

For context: the team migrated to Avalanche from Polygon, citing the network’s security and previous success onboarding web3 games.

With 20+ years of experience building games for their die-hard fanbase, MapleStory N could very well end up being the most successful web3 game of all time.

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Everything Else

⛓️ Crypto & DeFi

  • Bitcoin flips Swiss Franc, becomes 13th largest currency

  • Bitcoin miner revenue hits all-time high

  • KMNO airdrop sparks outrage, Kamino responds with changes

  • Solana registers all-time high in daily new addresses

  • Hop DAO to sell $440k in ARB tokens to finance operations

  • Metamask tests first blockchain-powered payment card

  • BRC-20 creator Domo announces new Layer 1 Foundation

  • Tether USDT to launch on L1 Celo

  • Unibot ends collaboration with Solana group, tanks 33%

  • Blast TVL hits $3B with $1B deployed into dapps

🏦 Wallstreet & VC

  • VanEck temporarily cuts Bitcoin ETF fees to zero

  • BlackRock hires GSR analyst as crypto product strategist

  • Michael Saylor says “Bitcoin is going to eat gold”

  • NFTfi raises $6M in Series A1 from Placeholder VC

  • Eclipse Labs raises $50M ahead of expected Q2 mainnet launch

  • Monad Labs eyes $200M raise led by Paradigm

  • Elixir nears unicorn status following $8B Series B

🏛️ Legal & Regulatory

  • Biden proposes crypto mining tax & wash trading rules

  • Coinbase accuses SEC of breaking the law

  • FDIC criticizes SEC’s crypto accounting guidance

🌎 Rest of the World

🖼️ NFTs & Metaverse

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