Messari's Weekend Reads 😎

reading, sleep, and self-care

Your daily snapshot from our OnChainFX markets dashboard.

As usual this week was another week of killer content for our subscribers.

We shared our thoughts on Bitfinex’s LEO token

took a deep dive on launch styles and monetary policies for top tokens

and analyzed the crypto lending markets through the lens of our Crypto Interest Rate Index (CIRI), and it’s first month of data.

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Down to brass tacks, here are…

📚 Messari’s weekend reads:

Yesterday we hosted an AMA with Don Mosites and Rob “Crypto Bobby” Paone of AirSwap to talk about DEXs and where AirSwap fits into the overall ecosystem. Anyone can join our community Telegram to catch our weekly AMAs or just chat with the Messari team.

Finally, some…

✅ Updates from the Messari Registry Members:

Have a good weekend y’all.

- The Messari Team

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Messari Compression Algorithm

Content and thoughts from around the web as summarized by the Messari team.

[Analysis] Statechains: non-custodial off-chain Bitcoin transfer - Ruben Somsen (June 2019)

Statechains provide a unique Layer 2 approach to scaling Bitcoin ($BTC) transactions, according to Ruben Somsen. As part of a multi-sig transaction, a statechain governor signs off on transactions in coordination with the holder of the real private key, not dissimilar to Blockstream's Liquid federated sidechains. The statechain governor's nature decreases fault risk while allowing off-chain transactions. Statechains are also highly agreeable with Lighting, permitting users to interact with channels in a more dynamic fashion than ever before. (share or read more)

[Analysis] What Facebook's cryptocurrency means: 6 predictions - Caitlin Long (June 2019)

Wyoming Blockchain Task Force member and Wall Street Veteran Caitlin Long believes Facebook's Libra cryptocurrency will have six direct effects on the current financial system:

  1. Libra will be used as a store of value, particularly in underdeveloped countries with notoriously bad central banks.

  2. Facebook will issue interest on holders of the crypto which will also add pressure to current agreements between central banks, banks, and corporations.

  3. The foundation appointed by Facebook will yield real power internationally, becoming a key player in global capital markets.

  4. The regulatory hurdles Facebook is about to set out on will shed light on the current state of defunct and troublesome models used today.

  5. The number of actual Facebook users will be called into question as Libra users are forced to go through KYC practices.

  6. Libra is a Trojan Horse for Bitcoin ($BTC), the only ledger with real scarcity.

(share or read more)

Quick Bits (Don't read that, I read it for you)

Choke Points (Exchange News)

  • 💸 "Ideal money" Ampleforth finished its recent sale on Bitifinex's token launchpad exchange Tokinex, raising $5 million in 11 seconds. Commenting on the sale, Ampleforth CEO Evan Kuo said “The success of this raise is a strong indicator of the market needing more diversified assets other than what currently exists." (share or read more)

  • 🌍 Circle and Coinbase are opening their "membership-based framework" stablecoin network CENTRE for participation, according to CoinDesk. CENTRE facilitates the use of the USD Coin ($USDC) on both public and private blockchains. Members can gain returns on reserve asset holdings in return for protocol compliance and other membership duties. (share or read more)

Startup Signals (ICOs, Cryptos, and Startups)

  • 💳 Visa, MasterCard, and PayPal have all backed Facebook's stablecoin Libra, according to the Wall Street Journal. Each participant will invest around $10 million into a foundation to run the network as well. Uber, among other companies, has also backed the project. (share or read more)

  • 🗣 According to a recent note in EOS' ($EOS) Telegram channel, CEO Brendan Blumer says an inflation tax may be a method to fund the development and maintenance of Block.one's new social media site Voice. “Without committing to the model," Blumer wrote, "[Block.one] will take a small cut of ongoing inflation or another aligned way that allows us to preserve the utility status of the token.”

The Powers That Be (Legal/Reg/Policy)

  • 🛑 Binance, the world's largest crypto exchange by Real 10 volume has announced that it will review customer accounts on its site to ensure they adhere to the exchange's KYC and terms of service policies. As part of its updated terms of service Binance will not provide services to "any U.S. person." Previously Binance only restricted access to six U.S. states, including New York. (share or read more)

Did I miss something?

Send me the link, your twitter handle and your best imitation compression algorithm write up. If I like it, I’ll include your bit next issue (with attribution).

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