Hello Defiers! Here’s what we’re covering today:
News
- Arbitrum Co-Founder Says Ability to Process Transactions is Finite
- LooksRare Irks NFT Creators by Dropping Mandatory Royalty Fees
- Hong Kong Poised to Regulate Crypto Trading: Report
- Google Ramps Up Web3 Strategy With Node Management Offering
Deep Dive
NFT Roundup
Podcast
Video
Elsewhere
- Binance confirmed as investor in Twitter takeover, as Musk reportedly plans to take reins as CEO: The Block
- Aptos Token Rebounds After Upstart Blockchain’s Dismal Debut: CoinDesk
- ZK can be intriguing yet intimidating. @grjte opens up about how she nailed it and became the Engineering Lead at Polygon Miden: Polygon
Trending in The Defiant
- Multichain Questioned About Management of Millions in User Funds
- Ether Issuance Goes Negative as Merge Delivers on Deflationary Promise
- USDC Market Cap Slides By $10B Since Tornado Cash Bans
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Ethereum Scaling
🚀 zkSync to Launch ‘Baby Alpha’ V2 as Skeptics Decry Marketing Hype
Matter Labs Says Network is First ‘Product Ready’ Rollup with ZK-powered EVM
By Samuel Haig
QUESTIONS Matter Labs is poised deployed zkSync 2.0 to the mainnet on Friday but skeptics questioned whether the iteration was ready for prime time. For weeks, Matter Labs has been promoting the Layer 2 blockchain network V2 as the first ever “product-ready” rollup with a zero-knowledge-powered Ethereum Virtual Machine. But not everyone is convinced by zkSync 2.0’s claim to have launched the first ever production-ready ZK-EVM rollups.
👉READ THE FULL STORY IN THE DEFIANT.IO👈
Layer 2s
🏎 Arbitrum Co-Founder Says Ability to Process Transactions is Finite
Ethereum is Congested – What Happens When the Release Valve Gets Clogged as Well?
UPGRADE With its Nitro upgrade in the rearview mirror, Ethereum Layer 2 scaling solution Arbitrum is now turning its focus to research and development in hopes of solving its own major challenges long before they appear.
👉READ THE FULL STORY IN THE DEFIANT.IO👈
Sponsored Post
$1.5 BILLION were stolen from cross-chain bridges in 2022.
It’s obvious that the crypto industry needs to create a more secure way to make cross-chain trades.
Project TXA will allow ANY EXCHANGE to do cross-chain trading WITHOUT bridging assets while still having decentralized settlement.
Those who provide their services to secure decentralized settlement will receive half of the fees that are typically reserved exclusively for exchanges.
You can be one of them.
TXA’s newtwork is comprised of Settlement Data Providers (SDPs) to listen to and propagate all trades happening on participant exchanges.
They maintain a register of each trade and and obligations between users.
Settlement is entirely P2P and neither the exchanges nor Project TXA touch the assets at any point.
Anyone can become a Settlement Data Provider operator and validate trading data.
They earn fees from each validated trade.
No shady tokeconomics involved.
Protect TXA has been building through two bear cycles and we aren’t going anywhere. We are very close to alpha and have considerable support from partners and the community alike.
Want to be one of the first few to change the way assets are traded and settled?
NFT Royalties
😠 LooksRare Irks NFT Creators by Dropping Mandatory Royalty Fees
LooksRare Offers to Share Quarter of Staking Fees With Creators
By Owen Fernau
FEES LooksRare, an NFT marketplace that made a big splash in its debut earlier this year, has dropped the mandatory royalty fees it previously charged to token buyers, the company said Thursday. That could be bad news for NFT creators who depend on royalty income.
👉READ THE FULL STORY IN THE DEFIANT.IO👈
NFT Roundup
🧳 RTFKT’s ‘Phygital’ Luggage Flies Off The Shelf
Suitcases and Art Blocks’ Friendship Bracelets Hit NFT Market in Busy Week
By yyctrader
LUGGAGE RTFKT, the Nike-backed NFT studio behind the popular CloneX avatars, dropped a new collection on Oct. 27 in collaboration with luxury luggage manufacturer Rimowa.
TRADING The collection has seen heavy trading with over 1,125 ETH ($1.7M) of volume on OpenSea alone, pushing it to the top of the marketplace’s 24-hour leaderboard.
👉READ THE FULL STORY IN THE DEFIANT.IO👈
Crypto Regulation
🇭🇰 Hong Kong Poised to Regulate Crypto Trading: Report
Details of New Regime May Emerge at Fintech Confab
By Samuel Haig
WEB3 Hong Kong is planning to regulate retail crypto trading in 2023 in a bid to reboot the city’s web3 sector, according to an Oct. 27 report from Bloomberg News.
👉READ THE FULL STORY IN THE DEFIANT.IO👈
Crypto Cloud
☁️ Google Ramps Up Web3 Strategy With Node Management Offering
Search Giant’s Cloud Unit Launches Service for Web3 Devs
By Samuel Haig
COMMITMENT In a move that intensifies its commitment to web3, Google’s cloud division is launching node management services for Ethereum validators on Oct. 28, the company said.
👉READ THE FULL STORY IN THE DEFIANT.IO👈
Defiant Video
📺 Daily Defiant: Did Multichain Use Millions in User Funds Without Permission?
Podcast Video
📺🎙 100% of DeFi Could Become Illegal
Elsewhere
🔗 Binance confirmed as investor in Twitter takeover, as Musk reportedly plans to take reins as CEO: The Block
Crypto exchange operator Binance is now a confirmed equity investor in Elon Musk’s acquisition of Twitter.
🔗 Aptos Token Rebounds After Upstart Blockchain’s Dismal Debut: CoinDesk
Layer 1 blockchain Aptos’ token has enjoyed a powerful rally following last week’s inauspicious start, rebounding nearly to the price where it originally went live.
ZK can be intriguing yet intimidating.@grjte opens up about how she nailed it and became the Engineering Lead at Polygon Miden in a ZK Whiteboard Sessions interview.
Enjoy this fun conversation with @_bfarmer & @AnnaRRose:https://t.co/ixvNV25qh2
— Polygon – MATIC 💜 (@0xPolygon) October 27, 2022
Trending in The Defiant
- Multichain Questioned About Management of Millions in User Funds The vast majority of crypto lost to hacks this year was stolen from bridges, the technology that allows users to transfer digital assets between blockchains.
- Ether Issuance Goes Negative as Merge Delivers on Deflationary Promise It was one of the great promises of The Merge — the Ethereum network would become deflationary.
- USDC Market Cap Slides By $10B Since Tornado Cash Bans Centre Consortium’s USDC, crypto’s second-largest stablecoin by market capitalization, is steadily losing market share.
🧑💻 ✍️ Stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, and yyctrader, and edited by Edward Robinson, yyctrader and Camila Russo. Videos were produced by Alp Gasimov. Podcast was led by Camila, edited by Alp.
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