🚨 In Case You Missed It
- Nomad Bridge was exploited, with over $190M of liquidity drained by hundreds of addresses.
- Chiliz invested $100M for 24.5% stake in FC Barcelona’s digital content creation and distribution arm.
- Pyth Network announced Pythnet, a solution to aggregate first-party data at sub-second speeds and deliver pricing to other chains via Wormhole.
- Aspect Mainnet is launched, becoming the first NFT marketplace on Starknet Mainnet.
📊 ETH Active Addresses Break Previous All-Time High
- On July 26, the number of daily active addresses on Ethereum broke all previous records, as 1.06 million addresses made at least one transaction. While a steady rise in active addresses may indicate organic growth, such a sudden rise requires further on-chain investigation.
- Since August 2021, Ethereum blocks have been fully filled at an average gas limit of 30M units. Since then, the average gas fee has typically remained above 40 gwei, with even higher fees during popular NFT mints and surges in DeFi interactions. More recently, the average gas fee has trended lower around 25 gwei.
- A sharp increase in daily transactions in a low gas fee environment may indicate more smaller-sized, basic transactions. Simply put, when we see a lot of transactions during periods of low gas fees, it is likely that they are basic send and receive token transfers.
- Furthermore, Binance began consolidating their hot wallets on the same day. The number of transfers received by the exchange’s wallets spiked precisely during this period with a high number of average transfers per block. In total, 621,691 transfers were received by the Binance wallet with an average amount transferred of 0.45 ETH.
- The recent surge can also be attributed to the hype cycle around the upcoming Merge. Goerli and Prater testnets are scheduled to implement the upgrade between August 6 and 12. A successful Merge on the testnets will increase certainty around the same occurring on Ethereum’s mainnet as scheduled.
⚡Soulbound Tokens: The Basis of a Decentralized Society w/ Glen Weyl
- In this episode, we dive into Soulbound Tokens (SBTs) with Glen Weyl, co-author of Decentralized Society: Finding Web3’s Soul. We discuss the definition of souls & SBTs, the concerns around SBTs, the range of its potential uses, and much more.
- Glen Weyl is a political economist and Principal Researcher at Microsoft, the Founder of RadicalxChange Foundation, and Co-author of Radical Markets.
- Show Notes:
- (00:00:00) – Glen’s Background.
- (00:02:45) – Introduction to SBTs.
- (00:6:55) – The what and why of SBTs.
- (00:17:53) – Standardization of SBTs.
- (00:21:35) – Potential use-cases of SBTs.
- (00:32:54) – Unlocking the creator economy.
- (00:40:46) – What are souls?
- (00:43:09) – Concerns about SBTs.
- (00:46:26) – Countering malicious SBTs.
- (00:49:43) – Key recovery tools.
- Resources:
- For more, you can see our latest Delphi Podcast releases here.
🐣 Notable Tweets
Token Standards and Composability
(1/15) Token Standards and Composability
ERC-20, ERC-721, ERC-1155, ERC-4626…
ETC – WTF
Confused what @ethereum token standards are and why they matter? Interested in knowing which tokens are for what purpose? Want to understand the big picture?
This is the thread for you!
— Haym Salomon (@SalomonCrypto) August 1, 2022
Nomad Hack: Behind the Scenes
1/ Nomad just got drained for over $150M in one of the most chaotic hacks that Web3 has ever seen. How exactly did this happen, and what was the root cause? Allow me to take you behind the scenes 👇
— samczsun (@samczsun) August 2, 2022
ETH PoW Fork Endgame Scenario
A short thread about EthPoW and what is quite likely to happen:
Spoiler TL;DR: Galois et Guo delenda est
🧵👇
— Marc “Aavechan.lens” Zeller 👻 💜 (@lemiscate) August 1, 2022
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