đŸ˜± What in the WORLDcoin?!

PLUS Arkham Intel's bounty on Do Kwon

July 25, 2023

🗞 Market commentary.

Good morning world larp explorers,

In case you’ve been touching grass recently:

  • Crypto animal racing became a thing

  • Zucks get his Brazilian Jiu Jitsu blue bet whilst Musk trains the Walrus Attack

  • Twitter becomes X

  • Coingecko creates a Discord Bot category

  • aaaand Bitcoin starts to puke as rate hikes loom during Wednesday’s FOMC meeting

Never a dull moment. (PS
 Quest for LARP word is somewhere below)

Remember last week’s Arkham Intel drama? Featuring a referral scheme that can be reverse-engineered to reveal email addresses and a token launch that just felt like a scam. Yesterday saw the Intel Exchange’s first bounty submission being approved making it officially sleuthed.

The mission, acquire evidence of wallets owned by Do Kwon / Terraform Labs.

The sleuths, one on-chain anon and one pseudonymous anon ErgoBTC were awarded the 9,519 ARKM token payout and share the findings in this thread.

The platform creates a marketplace for users, entities and probably anon government individuals to post bounties for skilled on-chain sleuths to uncover possibly criminal actions. Current bounties include the Wintermute Hacking, FTX exploit and Nomad Bridge exploit.

Very interested to see how this plays out and the impact anons will have on large-scale criminal on-chain robberies.

đŸ€“ In today’s email.

  • Degen corner. Proof of Personhood or Proof of Ponzi?

  • DeFi insights. 13 need to know updates

  • ICYMI. GM degen podcast, Mozaic: Everything You Need to Know and Catching the Liquidity Wave

  • Top Tweets. What would you do with $1m?

  • And finally. Big earnings week, will AI feature again?

đŸ”„ Degen corner.

Proof of Personhood or Proof of Ponzi?

The privacy-preserving, data-gathering ORB is here and ready to scan your eyeball to “prove your personhood” in order to set up your World ID aka your global digital identity to dish out the WLD “just for being human” token.

Aaaaand create a global database of human eyeballs
 Imagine what could be done with this kind of data


At the time of writing the WLD token pumped to $3.34

How on earth?!

Currently boasting a $30+ BN Fully Diluted Valuation (FDV), this VC-backed predator token is 2x more than some of the crypto OGs ADA, SOL and MATIC. Even Elon’s DOGE doesn’t come close.

With a token utility that is “to be decided by the community” and to “pay for Worldcoin app loot” this data acquiring Proof of Personhood Proof of Ponzi token looks like another world-class pump and dump giving early ICP vibes (for those that remember).

Saying that, ICP did reach an all-time high of $700
 good ponzi for those who weren’t left holding a stack. The total supply is 10 billion tokens with approximately 1.5% of supply in circulation with market makers getting 100m and the remaining getting airdropped to early sign-ups. 

What in the WORLDcoin?!

Despite what we might think of Worldcoin it has generated managed to capture a lot of noise and controversy with over 2 million initial sign-ups and almost 900,000 wallets. 

As you can imagine, the USA is geofenced from the WLD token which didn’t stop savvy-minded investors from developing countries who took advantage of the airdrop, and fair play to them!

And to celebrate such an event, Worldcoin is commemorating the day with a free NFT collectable on Zora.

Now let’s flip reverse it

Zachxbt is one of crypto Twitter’s best detectives and it’s no surprise that a project like Worldcoin comes with some controversy. After all, they are scanning our eyeballs and gained 9 figures of investment.

According to Zachxbt’s findings, “the team exploited people in developing countries” and “increased the amount allocated to insiders from 20% to 25% according to Coindesk.” You can check the full thread here.

Judgement will be cast based on price action at the end of the day.

Up only = legitimate top 10 Coingecko project

Down only = scam

Digital ID meta this week?

AI had its time to shine, trading bots are having their moment.

Maybe, just maybe
 Worldcoin will spark off a Digital ID (DID) meta. 

👀 DeFi insights.

The important bits.

  • Aevo - Worldcoin WLD perps goes live - Read

  • Jpage - Rebranded as WERC721 - Read

  • Paradigm - Incubate app chain “Paradex” on Starknet - Read

  • Pepe Analytics - Launch details including an upcoming telegram bot - Read

  • PepperDEX - publishes “Perps 101: Peter Pepper Picked Perpetuals!” - Read

  • Pudgy Penguins - Recent Empire interview TLDR recap - Read

  • Rook - team market dumped $450k+ tokens as market participants were “willing to buy" at a fair price - Read

  • Sparta DEX - Lockdrop kicked off yesterday including updates on airdrop distribution - Read

  • Swell Network - swETH goes live on Pendle Earn - Read

  • Maverick Protocol - Hits top 3 TVL on DeFiLlama - Read

  • Orange Finance - Product direction change to Uni V4 hooks - Read

  • Umami DAO - Thread on how the vaults generate real yield, but is it a ponzi? - Read

  • Yearn Finance - Tour de France continues in VELO vaults with yvOP rewards - Read

📰 DeFi news.

  • Criminalise CBDCs! That’s the message from Congressman Warren Davidson, arguing “CBDCs corrupt money and give too much control to central authorities” - Read

  • Parrot Finance's controversial redemption plan is deep in voting over the $70m treasury, favouring investors and team members, as the project goes tokenless - Read 

  • SEC lawyers posture up for an appeal in the Ripple case claiming “wrongly decided” - Read 

  • Worldcoin launches, Vitalik reacts by addressing 4 issues with the concept of “Proof-of-Humanity” concluding there is “no ideal form of proof of personhood”
 for now anyway - Read

  • Zucks vs Musk, as the Meta CEO earnt his blue belt in Brazilian Jiu Jitsu in preparation for Musk’s walrus attack - Read

đŸ«  ICYMI.

Life gets busy so here’s what you’ve missed.

GM degen podcast

Listen & Watch.

Today's Good Morning Degen is basically a @worldcoin special. And we tried to warn you Grantblocmates also stepped in to explain how market-making deals work and we obviously discussed @YoloNoloBot amidst the biggest winners

Tune in on Spotify | YouTube | Twitter →

Mozaic: Everything You Need to Know

Research.

At the heart of Mozaic is Archimedes, their AI engine that is already trained on trading optimizations and single-sided staking. It is currently being trained on borrowing optimizations, lending optimizations, and more. The engine considers price impact, duration of transfers, TVL, fees, and a host of other factors to determine which crypto assets are worth holding. 

Catching the Liquidity Wave

Thought Provoker.

Since October 2022 we have seen markets rally hard in the face of what was almost unanimous agreement amongst market participants that a recession was ‘just around the corner’ due to a US dollar that would not stop rallying and out of control energy prices. Many participants were left sidelined these last 9 months asking themselves, “How could this rally possibly be happening?!” The answer (retrospectively) is simply liquidity.

QUEST FOR LARP KEYWORD

đŸ„ Top tweets.

To save you doom scrolling.

DeFiSurfer808, what would you do?

rektdiomedes, a man, a scholar, and a Greek hero in another one of his thought-provoking macro-Greek analogies

🩍 And finally


With the release of a discord bots category on Coingecko, it wouldn’t be much of a surprise if we see additional discord and telegram bots being spun up to capture the running narrative that’s been hot recently.

Big earning season coming in over the next couple of weeks. This week sees over $14 trillion worth of market cap sharing numbers and forecasts. It wouldn’t be much of a surprise if we see post-earnings call feature AI quite heavily like we did earlier in the year.

All eyes are on J Powell tomorrow at the FOMC conference.

đŸ€ A final word.

A quick word from our super awesome sponsors who help us make this all possible...

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