EthHub Weekly #146 EthHub

Curated by Anthony Sassano (@sassal0x) and Eric Conner (@econoar)

📓 The Haiku Book

Before crypto Twitter, there was crypto Reddit – a very popular place and home for cryptocurrency enthusiasts to talk about projects they were interested in and celebrate the epic volatility that is the crypto markets. The ‘/r/ethtrader Daily Thread’ (and ‘/r/ethfinance Daily Thread’) was a home for people to come in every day and comment on the price of ETH and other cryptocurrencies. One day, back in 2019, a user going by the name of ‘SingleStateSerenity’ decided to post one haiku every day in the daily thread and now Reddit users ‘Krokodilmannchen’ and ‘_kitteh’ have put those haikus into a book – aptly titled ‘The Haiku Book’ – you can read the full details about it here and watch the trailer here.

Eric and I joined DCinvestor on an interview hosted by David Hoffman and Ryan Sean Adams of Bankless to give The Bull Case for Ethereum – watch that here.

Have a great week everyone!

– Anthony

News of the Week

⚖️ SEC Files Lawsuit Against Ripple and Two Executives

The Securities and Exchange Commission has filed a lawsuit against Ripple, CEO Brad Garlinghouse and co-founder Chris Larsen for conducting what the regulator alleged to be a $1.3 billion unregistered securities sale. 

The complaint “alleges that Ripple raised funds, beginning in 2013, through the sale of digital assets known as XRP in an unregistered securities offering to investors in the U.S. and worldwide. Ripple also allegedly distributed billions of XRP in exchange for non-cash consideration, such as labor and market-making services,” per a statement, which adds:

“According to the complaint, in addition to structuring and promoting the XRP sales used to finance the company’s business, Larsen and Garlinghouse also effected personal unregistered sales of XRP totaling approximately $600 million. The complaint alleges that the defendants failed to register their offers and sales of XRP or satisfy any exemption from registration, in violation of the registration provisions of the federal securities laws.”

“We allege that Ripple, Larsen, and Garlinghouse failed to register their ongoing offer and sale of billions of XRP to retail investors, which deprived potential purchasers of adequate disclosures about XRP and Ripple’s business and other important long-standing protections that are fundamental to our robust public market system,” Stephanie Avakian, Director of the SEC’s Enforcement Division, said in a statement.

🤨 White House Releases Stablecoin Report

The White House has released a statement on regulatory considerations for stablecoins — and it includes the potential for limitations on “multi-currency stablecoins.”

The statement comes from the President’s Working Group on Financial Markets, which is a Treasury-centric working group that makes recommendations to the president and federal regulators. 

The group highlighted the importance of anti-money laundering and counter financial terrorism measures, including on-chain know-your-customer (KYC) verification among all parties, even unhosted wallets. This comes after the Financial Crimes Enforcement Network unveiled a proposed rule that would also create heightened KYC requirements for transactions between money service businesses and unhosted wallets.

The new report also said stablecoin issuers should be able to comply with sanctions obligations, as well as have the ability to enable one-to-one redemptions. Since algorithmic stablecoins like Empty Set Dollar and crypto-backed stablecoins like Dai aren’t backed with fiat currencies, it is unclear how these stablecoins might be affected by the working group’s suggestions.

Project Updates

The New Ethereum Improvement Process

Edson Ayllon from the Ethereum Cat Herders details all of the changes coming to EIP-1 that will improve the overall Ethereum governance process.

Dark Forest v0.5 Now Live

The very popular Ethereum-based planet-capturing game Dark Forest has launched its latest version v0.5.

Synthetix Updates

The Shaula release went live this week which introduces a host of new upgrades for the Synthetix protocol and the new Synthetix Staking dApp went live as well which gives a fresh coat of paint to the staking interface.

Opium Token Economics

Opium details its new governance token, OPIUM, that will be used to power the Opium Protocol.

Ahead of the Curve #004

Updates from the Curve ecosystem including a look at governance, the ecosystem and Curve in the news.

Introducing COMBO Token

In this post Furucombo introduces their new COMBO token that will allow holders to share in platform fees, participate in governance and enjoy premium features.

1INCH Token Released

The 1INCH token is a governance and utility token for the 1inch Network. The 1INCH token will be used to govern all 1inch Network protocols.

Ronin Public Testnet Release

Ronin is a scaling solution built specifically for Axie Infinity. This week, the team announced that the public testnet is now live.

Aave V2 Design Upgrade

In this post, Rowan van Ginkel from Aave details the process that he and the team went through when designing the new Aave v2.

Etherscan Adds Token Approvals Tool

You can use this tool to review and revoke access of spending your tokens from any smart contract.

Introducing Dexible

Dexible is a decentralized exchange tool that enables private, non-custodial flexible DeFi automation and the first Stop-Loss orders for retail DeFi.

Degenerative Finance Launched

Degenerative Finance is a new product built by Yam on UMA.

Interesting Tweets

Ecosystem Bits

Blog Posts



Meme of the Week

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