Vitalik on Memecoins 🚨 $62.5M ETH Gone!
We can make memecoins charitable! What's next for Ethereum after the Dencun upgrade? $62.5M Ether Stolen in Munchables Web3 Hack. What happens to altcoins after the Bitcoin halving takes place?
GM fam! Welcome back to This Week in Web3 — delivered by Spacekayak, powered by The Product House 🚀
For you and Posty this week👇
🤩 Let DOGE fund cancer reserach!
🤔 Where do we go from Ethereum’s Dencun upgrade?
😱 $62.5M Ether Stolen in Munchables Web3 Hack
Memecoins need to be more than jokes! 😤
Today, we're unpacking Vitalik Buterin's latest thoughts on memecoins and their untapped potential. Known for his groundbreaking work in crypto, Buterin's diving into how these internet joke coins could actually do some real good.
Let's get into the top 5 takeaways from his eye-opening piece 👇
1. The Potential of Memecoins for Public Good ✨
Buterin throws a great idea our way: Memecoins could be used to fund important societal projects, with specific coins supporting causes like cancer research or environmental conservation. This approach could open new avenues for philanthropy and community engagement.
2. The Current State of Memecoins 📈
With memecoins popping up left and right, Buterin points out it's not all fun and games. Highlighting the recent surge in memecoins, he expresses concern over their lack of novelty and the negative aspects some exhibit. He advocates for a shift towards more meaningful and constructive use of these digital assets.
3. Charity Coins: A Step Forward 🤝
The article mentions successful charity coins, demonstrating how memecoins can have a positive impact by supporting various causes. Buterin sees this as an unexplored opportunity to create more beneficial and lasting projects in the crypto space.
4. Introducing Robin Hood Games 💰
Buterin dreams up games that are a blast to play and could help even out the wealth gap, especially benefiting lower-income players. This concept aims to combine entertainment with social impact, encouraging a more inclusive and positive-sum approach to crypto gaming.
5. A Call for Higher Quality Projects 🌟
Buterin urges the crypto community to focus on creating projects that offer genuine enjoyment and contribute positively to the ecosystem. He emphasizes the importance of moving beyond simple memecoins to develop games and initiatives that align with people's desire for fun and meaningful engagement.
Wrapping up, Buterin's article isn't just a read; it's a call to action for the crypto community to innovate and think bigger about the role of memecoins. The future's bright if we can mix a little fun with purpose. 💪
Curious for more? Explore the article by Buterin and get the full scoop.
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TWIW3 Funding 🤩
💰 Midas Raises $8.75M for Real-World Asset Tokenization
Midas, a company focused on bringing real-world assets onto the blockchain, raised $8.75 million in a round led by Framework Ventures, BlockTower, and HV Capital. The funding will support its protocol that tokenizes assets like U.S.Treasuries, with its initial product, mTBILL, tracking short-dated T-bills.
💰 Web3 AI training firm FLock raises $6 million in seed funding
FLock, a web3 startup that decentralizes artificial intelligence training, raised $6 million in seed funding. They will use the funds to grow its team and develop an AI training platform powered by federated learning — a decentralized machine learning approach that emphasizes data privacy.
TWIW3 Reads of the Week 📖
📖 Ethereum has blobs. Where do we go from here?
Vitalik talks about Ethereum's big update, the Dencun hard fork, and a new feature called proto-danksharding (EIP-4844), which makes transactions much cheaper. This is a big step towards making Ethereum better and more efficient, focusing on improving Layer 2 solutions and how data is used. The update shows Ethereum is moving beyond just handling money to becoming a broader platform for decentralized applications, stressing the need to work on making it faster, more private, and easier for everyone to use.
📖 A Brief History of Memecoins: Their Past and Future
This Mirror post explores the rise and cultural significance of memecoins in the cryptocurrency world, highlighting their journey from novelty digital currencies inspired by internet memes to a notable segment within the crypto market. It traces memecoins' evolution from their early days on proof-of-work blockchains through various crypto trends, including ICOs, DeFi summer, and their interaction with NFTs. The piece emphasizes Dogecoin's pivotal role as the pioneering memecoin and examines how memecoins have adapted and flourished across different crypto cycles.
📖 What happens to altcoins after the Bitcoin halving takes place?
The Bitcoin halving event, which cuts the reward for mining new blocks by half approximately every four years, aims to decrease the pace of new Bitcoin creation, managing inflation and prolonging the distribution of the currency. Typically, this event acts as a positive driver for altcoins, and expectations are similar for this cycle. Although it's uncertain if the impact will mirror previous cycles exactly, an extended market cooldown phase post-halving appears highly improbable.
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TWIW3 Jobs 👩💻
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TWIW3 Pecks 🐦
Let’s get into Posty’s fresh pecks from the world of web3!
💪 Echo: Cobie's New Platform for Crypto Angel Investing
Crypto influencer Cobie launches Echo in beta, aiming to simplify angel investing in crypto. The invite-only platform targets qualified investors, following local regulations for sophisticated investors.⛓ Near Protocol Introduces Chain Signatures for Multi-Chain Access
The Near Foundation announces Near Protocol's new chain signatures feature, allowing users to access multiple chains with their Near account. In partnership with Ethereum's restaking project Eigenlayer, this feature aims to enhance network security.📈 Magic Eden Embraces Bitcoin Runes After Ordinals Success
Magic Eden, post-Ordinals trading success, will support Bitcoin Runes from April 20th. Dominating NFT trading with a 52% share, 69% from Ordinals, it introduces a Diamonds rewards program to boost platform use.🚨 $62.5M Ether Stolen in Munchables Web3 Hack on Blast Blockchain
A hacker targeted Munchables, a Web3 project on the Blast blockchain, manipulating a contract to transfer $62.5 million in ether (ETH). The theft occurred as the platform was updating its smart contracts.
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