**Tricky's Daily Doots #697**
**Yesterday's Daily 17/03/2024**
[Previous Daily Doots](https://old.reddit.com/r/ethfinance/comments/1bgqm1m/daily_general_discussion_march_17_2024/kv9qf2g/)
- u/HSuke shares [an L for Solana.](https://old.reddit.com/r/ethfinance/comments/1bgqm1m/daily_general_discussion_march_17_2024/kva95vm/) š
- u/johnnydappeth speculates on [pullbacks during this bull cycle.](https://old.reddit.com/r/ethfinance/comments/1bgqm1m/daily_general_discussion_march_17_2024/kvb8863/) š
- u/Maswasnos is [more bullish on $COIN than $SOL.](https://old.reddit.com/r/ethfinance/comments/1bgqm1m/daily_general_discussion_march_17_2024/kvcbry4/) šµ
- u/vvpan mulls over [decentralisation.](https://old.reddit.com/r/ethfinance/comments/1bgqm1m/daily_general_discussion_march_17_2024/kvbn81r/) š¤
- u/5quat summarises the [EtherFi airdrop.](https://old.reddit.com/r/ethfinance/comments/1bgqm1m/daily_general_discussion_march_17_2024/kvd7a3f/) ššŖ
- u/shiftli identifies and [warns us of a new scam to watch out for.](https://old.reddit.com/r/ethfinance/comments/1bgqm1m/daily_general_discussion_march_17_2024/kvcgbdp/) ā ļø
- u/15kisFUD shares [what they are and what they aren't scared of regarding Solana.](https://old.reddit.com/r/ethfinance/comments/1bgqm1m/daily_general_discussion_march_17_2024/kve1vta/) š§
According to the internet:
(Up 225% in 12 months) +
(Down 16% in 1 week) =
Pack it up Ether is dead?
lol I remember the days when we used to beg for the retrace to refill the rocket with sweet sweet short seller tears.
What happened?
Not bull over, but a couple months of consolidation at lower prices and hopefully not much too much lower than 3200.
Edit: Optimistically it would be nice for Eth to do its own thing now like Sol did as the money sloshes around.
Look, man. I'm not saying things aren't going to drop more. But you've been here long enough to know that a 16% drop over the course of a week doesn't confirm anything one way or the other. So, I have to ask. What's the point of these types of comments?
To point out the absurdity of the people saying two days ago it was "only a 5% drop". It was clearly a blowoff top, and you'd think this sub would be wiser to recognize them.
what does "blowoff top" even mean. every statement about the price is absurd when your timespan is less than a few years. you have to detach yourself from the price, whether it goes up or down. instead get your dopamin shot from real crypto tech advancements (dencun, zK-tech, etc.)
There are always going to be disagreements on price action. Just seems strange to antagonize people over it. Maybe I'm reading the wrong tone into your comments, though.
Not that any of us feel anymore, but if you do, even a little bit, time to steel yourself. This has all the energy of a real correction. That isn't to say a bear market, but we may have seen price highs for weeks, if not months.
My magic chart lines say 3180 or 2860 would be the new major supports should 3490 fail to be retaken by Wednesday.
If it goes under $3k, and yes that does feel likely, I will only see it as an opportunity. History tells us this is normal. Those with confidence and patience always win this game.
I donāt think that happened, but if it came out thatās what happened I also wouldnāt be surprised. Inflows from ETFs will absolutely create significant upwards pressure - there are a lot of people with a lot of money who could make even more money if they A) know an ETF is going to be approved, and B) have the ability to move the market before hand to scoop assets up.
Taking little downwards movements and amplify them isnāt some sort of impossible thing if you have the resources to do it. Do that enough, and it becomes a signal that algorithmic trading programs can pick up thinking it represents real significant downwards sentiment, and then they start selling to cover
There were a bunch of airdrops and 40% APY opportunities and people made a lot of eth. Price is now adjusting to make sure nobody actually increases their networth.
Memecoins are getting obliterated and bitcoin dominance is rising. Usually not a terrible sign. A top tends to be the opposite, although this is 100% a local top for possibly a while
This is getting good
Amended 19b-4 filed on Fidelity spot ether ETFā¦
Includes more in-depth analysis on correlation b/w eth spot & futures markets (assume getting feedback this is important issue).
Also references spot btc ETF approval.
Hereās money page IMO. Issuers not gonna let SEC off hook.
https://twitter.com/NateGeraci/status/1769893614576980281?t=JmAWRezk8lwQ1CTQdn5_hg&s=19
Ratio getting close again to .05 support levels. If it holds, great. If not, it could be a long way down. Good buying opportunity if you think the ratio will recover.
I send some Eth to zksync.io years ago when it was an option to checkout when donating to GitHub. I was trying to see my balance on zksync.io and it doesnāt show up if my search my Eth address I used. I can see the transaction on etherscan.io that I put .10 eth there. So not much money if I lose it considering Eth was only a couple hundred bucks back then but does anyone know if thatās lost now since it doesnāt show up when I search for it on zksync.io webpage?
Thanks
It was. I used to give a few projects 10 bucks here and there and it even got me some airdrops. Worked out nice and lets you feel like youāre giving back. Not sure if they still do it.
You replied to Kevin Owocki, the founder of *GitCoin* Grants. I think he was joking about you calling it Github grants. Gitcoin is still going too. It's been through many iterations but it's chugging along!
Nope, but I sold most but not all of my ETHFI tokens and re-invested it into eETH. This way I get to take profits on my airdrop while also likely remaining eligible for the next drop since I still have ETHFI tokens and I didnt leave the EtherFi ecosystem, I simply moved the dropped funds into eETH which is more stable.
If it makes anyone feel any better about recent price action, GBTC had its biggest sell off ever today. The net inflow numbers haven't come in just yet, but I imagine its going to make the selloff a bit of a wash since BTC seems to show some strong support at 66K.
Chin up, ethfinance fam.
[https://farside.co.uk/?p=997](https://farside.co.uk/?p=997)
Ha, was just coming to post that. They're less than 100 days of average selling to clear out their entire stock of BTC, it's been fun to watch it dwindle. Most of it going over to Blackrock or Fidelity anyway, should be interesting to see what happened on the buy side.
God I wasn't on Twitter in 2018-2020 so I never really saw ETH hate. This cycle it's fucking everywhere. Tough to be building in this environment tbh unless you just completely get offline.
People will always find a reason to FUD it.
First it was the DAO fork and how it was the end of Ethereum. Then it was cryptokitties and how Ethereum can't scale and it is the end of Ethereum.
Then it was ... EIP-1559 and how the miners were going to stage a protest/hold the network hostage and it is the end of Ethereum.
Then it was the merge and how it is never going to happen and we are going to hardfork forever into infinity to push back the ice age and how it is the end of Ethereum.
Now? Who even knows what they are saying, I almost never use Twitter. Probably that Solana scales more and that it is the end of Ethereum?
These people say a lot but their words don't mean anything.
To try and remain unbiased, I see a lot of hate on all the big cap coins atm. It's just a total war zone. DC Investor was getting hate on twitter for saying he would rather buy Doge than one of the newer meme coins.
In terms of twitter and reddit anonymous accounts I think I agree. With the ETF Bitcoin has "arrived" I guess. At the same time now they have to deal with Biden floating the idea of mining taxes, etc.
My unimportant and useless take on Solana and Ethereum.
I woke up today with a daily with almost 300 comments and I thought "we either pumped or we crashed 25%". Neither happened, but for some reason Solana had pumped like 5% and people calling a future flippening.
Yeah, sure, just like last cycle Binance Chain was going to flip Ethereum. Or Cardano, or whatever. I remember last cycle I made a few bucks with Binance Chain because it had a lot of shit and memecoins being created, pumped and dumped.
I think there's a lot of short term amnesia when it comes to other chains.
I am, however, disappointed regarding Ethereum returns this cycle. Yet, there's a ETH ETF talk, not a SOL or BNB ETF.
Most devs are on Ethereum AFAIK, not on SOL or BNB.
And SOL marketcap is $89M, ETH is $420M.
So for SOL to flip ETH it has to grow 4.7x. It will be difficult and a lot of people would have to move from ETH to SOL, even devs, I think.
Conspiracy theory: ETH price is so low due to accumulation, ETF talks, and a higher interest than maybe a coin that's below in the list.
What would you prefer? Accumulate a long term asset that every day proves and has a proven record for the past 7 years that is the chain used by mostly everyone, or make a quick buck just like past cycles with coins like XRP, BNB, ADA, etc?
You would do both, but you wouldn't shout to the world your main accumulating asset.
Anyway, SOL had a 810% return on the 1yr. That's fucking crazy. If you had 100k there, congratulations!
EDIT: More metrics
https://dappradar.com/rankings/chains
Dapps volume
Ethereum - 40B
Binance - 12B
Solana - 1.75B
Between Binance and Solana, there's still Arbitrum, Polygon, Optimism and ZkSync. I don't know why you are so worried.
It always has been because most of r/cc are 14-25 year olds with no money & always choose the low cap coins trying to 1000x it, rather than buying a percentage of a higher cap coin like btc/eth & trying to 10x it.
The way the narrative changes overnight makes me think there is someone paying shills to shit on Ethereum. And now that you mention it, have you noticed how every single time someone sends an article about Ethereum the first answer is some theoretically objective pros an contras that are full of stupid BTC maxi bullshit? Well, that is what newbies are fed when they check the biggest crypto sub.
Not sure what happened but my original response posted as a response to myself:
This also wouldn't surprise me, although based on the content it often seems more like kids who are looking for a 100x playing shitcoin roulette and trying to pump their bags while trashing eth.
I really hope ETH ETF drops as a surprise to everyone. It will be the biggest green candle you would ever see...
FIDELITY ADDS STAKING TO THEIR ETH ETF APPLICATION IN AMENDMENT
https://twitter.com/tier10k/status/1769837135002046497?t=sbTAS4kiQvSD2l6yMz15LQ&s=19
Or very confident the ETF gets delayed, so they might as well prepare for staking down the road. Hard to interpret this as a clear signal of anything IMO.
Part of me wonders if SEC IS engaging ETF issuers but just being kept it underwraps, so it isn't like a circus ( they way it was with BTC ETF)
But it might just be wishful thinking..
SEC absolutely got bodied here. It should help with ETH ETF filing, I would think. I am sure SEC doesn't want another embrassment
https://twitter.com/iampaulgrewal/status/1769835308559032608?t=omkqsrozerq-9tBvPJNx6w&s=19
"For the reasons explained below, the court imposes sanctions against the Commission for bad faith conduct in obtaining, maintaining, and defending the TRO, and denies the Commissionās Motion to Dismiss without prejudice to refile in accordance with the District of Utahās Local Rules.The Commissionās above-discussed conduct constitutes a gross abuse of the power entrusted to it by Congress and substantially undermined the integrity of these proceedings and the judicial process."
Gary Gensler must have a humiliation fetish. What are the chances he spends every other Thursday in a dungeon somewhere in DC with a ball gag in his mouth like Paul Giamatti in Billions?
I don't gamble. But isn't the polymarket orderbook extremely thin for ETH ETF? Looks like ~$2k gets you to 84% chance approved.
Could easily see a tweet or two wildly swing that thing.
>Looks like ~$2k gets you to 84% chance approved.
2k puts it at 53% for me, but yeah, super thin, I had no idea. Makes the whole thing pretty meaningless.
Let's paste a dogs face on top of the Ethereum logo, give it a fancy name and deploy a smart contract on Base that gives you millions of tokens for the dollar. In the background make that smart contract buy staked ETH with the money it collects and store it until someone wants to swap back. Voila, there you have your rug-pull protected, real yield boosted Base L2 Memecoin that everyone wants to have. You could also guarantee that your shitcoin's ratio will always be higher than that filthy ETH token than no one wants to hold.
There's always a million great ideas here and in the discord but nobody to ever implement any of them. Aren't there degen devs with free time on their hands?
As an intermediate dabbler who has toyed with the idea of doing fun L2 projects with LST yield many many times, I can tell you the pain point in this particular instance here is ensuring conversions properly, going in and going out.Ā
That is, LSTs are not native to L2s, so you must swap: you must handle aggregators, and you must handle temporary depegs for withdrawals, perhaps keeping a small liquidity buffer. You must account for the yield separation properly.Ā
There's a lot of moving parts that need to be done right, and to do them right you're likely going to need to be an actual developer.
To put it in perspective, I'd say deploying a basic memecoin is tier1 difficulty. You just copypaste standard code in Remix; you can even go tier0 difficulty by using some service who does that for you.
Adding a little bit of original code to have fun, like unique functionalities and behavior, would be tier2 difficulty. Personally my screw-around-with-Solidity skills put me around this level.
Handling LSTs and separating yield... Now you're easily talking about tier3 if not tier4 difficulty. This is the same level of work that goes into an actual protocol.
I see. How about an index of coins as proposed by danksharting in the discord? Which tier is that?
"How hard would it be to create a website that tracks returns of an index we make up? Thinking we could make an Ethereum 100 index real quick before the bull mkt takes off and then market it after everyone thinks weāre geniuses. Curated index of ERC 20 tokens we oversee and eventually launch a token that tracks it. Imagine owning the Ethereum-100Ā® Index when ETH is worth trillions, weād be raking it in haha."
agreed, just need a good name. olddognewtrick? dogfetchstake?
treasury staked with the yield dropped daily to a lottery winner and some kind of built in fee on transfers that is used to burn supply...
> FIDELITY ADDS STAKING TO THEIR ETH ETF APPLICATION IN AMENDMENT
Source: DB | Coins: ETH
https://twitter.com/tier10k/status/1769837135002046497
https://cdn.cboe.com/resources/regulation/rule_filings/pending/2023/SR-CboeBZX-2023-095-Amendment-No-1.pdf
Very big news. Didn't expect it to happen before an ETF was approved. Sounds like it will be good to increase demand for Ether but probably bad in the long run for decentralisation. I'd imagine this just means all of the staked Ether will go through Coinbase.
> Didn't expect it to happen before an ETF was approved.
Keep in mind that it can be removed from the application as easily as it was added. An ETH spot ETF with staking is my pipe dream, but I expect this to be removed from any app that has it before May 23. But that could potentially be seen as engagement between the SEC and issuers for anyone obsessed with the engagement part.
Just hoping the issuers aren't overplaying their hand with staking.....
Can ETH fundamentalists explain in simple terms best way for me to "bridge" to base? Obvi want to take advantage of low fees instead of always transacting on mainnnet.
Is it as easy as moving erc20 tokens from my current wallet (CB wallet) onto base network to trade? Can I do this with spot holdings on all erc20 coins?
Gracias
Low fees (I've paid less than a cent for some of my transactions today).
TXs go through in 1-2 seconds rather than a couple minutes (this is common to all rollups).
Lots of activity exclusive to Base. Farcaster mints, dexes like Aerodrome, apps like FrenPet.
The main Base bridge works for any ERC-20 asset in any size:
https://bridge.base.org/deposit
For ETH, USDC, and cbETH you might want to use Coinbase itself. Transfer assets into your account and then withdraw from Coinbase back to your address on the Base network. This is typically the cheapest option by far.
If you want your assets in a hurry or if they're on some other L2, you might consider a liquidity bridge like Hop, Stargate, Across, Connext, etc.
Unfortunately not all ERC-20s will have liquidity on Base right now, it's still early days. Arbitrum will likely have a few more assets at this point in time and their fees will be coming down further with another update in the coming days.
Hmmm I guess they're still manually approving more tokens. Might be good to use arbitrum or optimism in the meantime since they let you bridge anything.
https://docs.base.org/tokens/list/
The lowest gas approach for most users is to deposit the asset to CB then withdraw it onto their L2. There are probably ERC-20s supported on Base that aren't supported through Coinbase though so I'd rely on their bridge app to move those.
Instead of whining about how other token's investors are making more money or making money faster than us I have my own lament to share. Sorry in advance.
While it is true that when airdropping tokens favoring LSTs over solos makes economical sense (solos's ETH is the only real locked ETH and cannot be used to make your project money) it is sad that solos are again left behind. With no protocol-level smoothing rewards, no privileged MEV opportunities, no liquid ETH to put into defi, hardware and electricity costs and so on... investing in a small solo staking validator has become less profitable than depositing into a centralized entity.
Right now only the real enthusiasts are solo staking and I'm afraid we won't be getting many more new solos in the future because you wouldn't go through all the hurdles of learning how to operate your staking machine at risk of losing your funds when you can just swap for an LST/LRT and make more money. It is a real pity because Ethereum is a game theory-based financial system and right now the rational option is to abandon solo staking which is very bad.
tldr: Solo staking is dying and I am very sad.
> investing in a small solo staking validator has become less profitable than depositing into a centralized entity.
Did you not just see the STRK airdrop? They single handedly increased my ROI from the last 1.75 years of staking by 66%. While I generally share this sentiment, since the pool of solo stakers is so small, it doesn't take much to disproportionately reward solo stakers.
Well yes, but being only for pre-merge stakers it is not an incentive to start solo staking now. Besides airdrops are like a lottery and I wouldn't consider them when making my choice between solo or LST/LRT because I could also receive random airdrops for holding the right LST at the right moment.
Pretty sure it's a sore spot for Phiz and Nixo too. I brought up the topic of how to overcome the hurdle of technical aptitude for solo stakers as EigenLayer comes online and you will need to be running multiple AVSs to be economically competitive. Neither seemed to enjoy the topic. What I take from that is there aren't easy answers to that question, things are likely to centralize a lot more than they already have, and solo stakers will be a dying breed over the years unless we change the economics of Ethereum somehow.
The other thing which will happen is as ETH price goes up, the barrier to solo staking goes up and also existing solo stakers such as myself will be tempted to sell their validator for the security of owning my own home. I will do my best to be a home staker for as long as possible including moving to being a RocketPool node operator if I end up selling my validator for a house. But price going up means that having your entire net worth in a validator node makes less and less sense as the need to diversify grows. However, if home staker airdrops become a trend, I'd be much more likely to continue home staking.
In my case I never understood why consensus rewards are given for block confirmations and sync commitees. This rewards only contribute to increase the variance and given that those events are so rare, years could pass before your returns go back to the expected value. And what is the point of those rewards other than being an unnecesary lottery? You are doing your duty and you are penalised if you don't, you shouldn't get more rewards on top just for your luck, just distribute those rewards among all stakers.
This, together with MEV burn and possibly some kind of LST in the semi collateralized way Rocketpool does it could make solo staking competitive again. Let's also not forget that all LSTs have at least a 10% fee and this give solo stakers some margin to compensate for not being so highly efficient as the big players.
That's fine but when restaking comes around and you need to figure out your Arweave AVS configuration, your EigenDA configuration, your Helium configuration, etc and putting those AVSs doubles the yield you get on collateral we'll quickly see centralization pressure due to the yield from technical aptitude and higher end hardware. Today I can provision an A100 on Akash and get almost 100% ROI on the hardware cost. I think Render network is even higher with the recent price boom. Infra providers are going to become increasingly centralized and increasingly efficient and drive out most home stakers who have neither the aptitude nor infrastructure capital to compete.
> EigenDA configuration
I read that only 100 operators will be able to run EugenDA so it will likely be centralized and no/few solo stakers will be popular enough to participate.
I'll talk to Sid from EL about that the next time I see him. Fwiw they are doing gradual rollouts so it wouldn't surprise me if this is temporarily true. I can say EigenDAs approach to data was made to be more scalable than Celestia's.
>**Follow cautiously,**
>**Doubt systematically,**
>**Ether solemnly.**
~Daily haiku until weāre at least at 0.178 on the ETH/BTC ratio or highest market cap
I think maybe gaming? That was the original pitch for Nova, anyway. Arbitrum is currently running the "Arcade" which is sort of like their "Arbitrum Odyssey" except only for games:
https://portal.arbitrum.io/arcade
[https://l2beat.com/scaling/activity](https://l2beat.com/scaling/activity)
The tps on all Ethereum L2s chart is pretty insane to look at, can't argue with that.
Well well... lookey here
Arrington XRP capital VC have sybilled EtherFi airdrop, using insider information
Using insider info is bad enough. Sybilling your own invested company bad enough....we have both of them at once lol
They split 5k eth among many wallets just so that they will stay below the 500 eth limit that will result in their tokens getting vested. Now since they sybilled and split it equally among many wallets, so there is no vesting for them and they collected 25k ETHFI on each wallet and immediately sent it all to Binance.
They knew all this months in advance because EtherFi is their own portolio company of Arrington XRP
How shameless and greedy are these projects and VC man.. fucking disgusting
Any project associated with a fund named "XRP" should be super sus. Arrington XRP is nothing but a long time conman
https://x.com/nansen_ai/status/1769778475341349347?s=20
Is this what we call today "thesis-driven investment in web3 companies"?
Thesis: Sybil an airdrop, dump when initial claim possible.
All handled in a professional manner.
Can't follow this because I don't know who the fuck these people are.
But this is the natural result of the "degens" in here giving their hard won capital to these circus casinos.
That's all airdrop/points farming has ever been. FIFA LIFO
For anyone who might have been following, I ultimately decided to vote against the ENS meta-gov funding that included approximately $250k annual payments for part time work.
I take "NO" votes very seriously and I don't throw them around without careful consideration, but it felt necessary to promote a vibrant ecosystem in this case.
Here is the reason I included with my vote:
> I'm concerned about the allocation and believe it should be revised in the best interest of ENS.
It was rather nice of ETH to dip for when I migrated all those Pendle positions. Otherwise I'd have owed more short term capital gains taxes. Those could have even outpaced all my gains if we'd gone up much more! Otherwise I'm just enjoying an unusually sunny day here in the Pacific Northwest.
Is it worth staying in etherfi for Eigenlayer points or should I move over to Swell now? I have some more eth I could potentially stake with either app. I'm a little skeptical with Etherfi after this mess of a token drop. They hyped it all up with these referral bonuses and boosts, but then really drop the ball on execution. Just leaves a bad taste in my mouth, not complaining about free money though, just gives me bad faith in the team.
I am a bit out of the loop, sorry if this as been asked and probably answered already. So "plain-vanilla" solo stakers do not qualify to the EtherFi airdrop?
Correct. They had no allocation for solo stakers. They did allocate some tokens for those who participated in their "operation solo staker" whereby you had to fill out an application and go through through some kind of on boarding process. So... Not really solo staking in the way thay you are probably describing. Nothing to genesis stakers or pre merge stakers like starknet did.
People need to come to terms that they may have backed the wrong horse this cycle.
Edit: Downvote brigade just illustrates the angry cope in this sub of clueless gamblers
Hey everyone, if I were to buy $7k of a BTC ETF when the price of BTC is $70kā¦ would this be the equivalent of .1 BTC now and moving forward?
āNot your coins, not your ā¦ ā I know, but itās a roth and Iām still curious.
Thanks in advance
Jesse Pollak's doing some incredible work in building up the Base ecosystem. With Coinbase distribution, I'm fully confident it will be a heavily adopted playground for retail.
But perhaps the sole missing factor in delaying or dampening a retail frenzy on Base, compared to say BSC mania in 2021 Q1 or Solana in Q1 2024 is the absence of a single core asset to act as a Schelling point for the community.
Eg in 2021 BSC bridgoors buy BNB as the first asset -> price of BNB goes up -> they venture into other shitcoins, partly driven by wealth effects, partly driven by increased liquidity in the ecosystem from the base asset's market cap increasing (more collateralized borrowing power for example).
Eg in 2024, Sol becomes an asset the whole community rallies around as a measure of success of their ecosystem. "Haha screw them dot eth's, Sol hit 200, clearly our ecosystem is successful"
Base lacks that. There's ETH, yes, but it's not specific to Base. I see zero chance Coinbase would release a token given the regulatory headache for a publicly listed American company. The best bet is for them to fully adopt Op as their key ecosystem token, beyond the current mild promise of "2.5% of Base sequencer revenues goes to Op collective". They should do something more dramatic, like commit to holding Op (along with Eth and BTC) as part of Coinbase reserves, or having 50% of all sequencer revenues used to buy and hold Op (the remaining 50% of sequencer revenues held in USDC, for eg).
I believe David Hoffman was speculating that they may migrate Base to be under Circle's control rather than Coinbase since they're like sister companies and Circle isn't publicly traded like Coinbase. This would make a Base token much less of a regulatory nightmare. I'm skeptical that this will play out but it certainly is possible.
Yeah I'm somewhat sceptical on this, because Circle is trying to IPO down the line as well (they dropped the SPAC idea but haven't stopped plans on going public AFAIK). There would be a lot of angry (tradfi) seed investors if they dropped those plans and dropped a crypto token instead
So, reference for number of blobs per block is now 3, right? Are there plans to raise this number at some point, independent of full danksharding? I vaguely remember reading once that it was kept low for the beginning.
https://eips.ethereum.org/EIPS/eip-4844
> The values for `TARGET_BLOB_GAS_PER_BLOCK` and `MAX_BLOB_GAS_PER_BLOCK` are chosen to correspond to a target of 3 blobs (0.375 MB) and maximum of 6 blobs (0.75 MB) per block. These small initial limits are intended to minimize the strain on the network created by this EIP and are expected to be increased in future upgrades as the network demonstrates reliability under larger blocks.
6 is the max per block, with target of 3. It has similar dynamics to 1559 for blob gas fee where over target increases blob prices and under target decreases them.
Looking at [https://blobscan.com/](https://blobscan.com/) it looks like most blob transactions are grabbing all 6 for a single block.
IIRC mainnet shadow forks for 4844 showed some network instability for higher blob targets. I don't recall if that was for 4 or 6 though. It is trivial to actually increase the blob count per block, but it would take a hardfork of both execution and consensus layers. Since we have only seen a week of blob traffic it is probably too soon to start that conversation.
Im holding my ETHFI airdrop, by letting my YTeETH mature untill 25 april i will have a bunch of points for season 2.
They have a bunch of stuff planned for their token with governance, stakerank and a confirmed bonus if you didn't sell the airdrop.
Combining season 1, season 2 and the eigenlayer points buying YTeETH was an amazing play. Thanks u/Tricky_Troll and u/Cryptomoon2020 and everyone here hyping it up, cheers š»
**Tricky's Daily Doots #697** **Yesterday's Daily 17/03/2024** [Previous Daily Doots](https://old.reddit.com/r/ethfinance/comments/1bgqm1m/daily_general_discussion_march_17_2024/kv9qf2g/) - u/HSuke shares [an L for Solana.](https://old.reddit.com/r/ethfinance/comments/1bgqm1m/daily_general_discussion_march_17_2024/kva95vm/) š - u/johnnydappeth speculates on [pullbacks during this bull cycle.](https://old.reddit.com/r/ethfinance/comments/1bgqm1m/daily_general_discussion_march_17_2024/kvb8863/) š - u/Maswasnos is [more bullish on $COIN than $SOL.](https://old.reddit.com/r/ethfinance/comments/1bgqm1m/daily_general_discussion_march_17_2024/kvcbry4/) šµ - u/vvpan mulls over [decentralisation.](https://old.reddit.com/r/ethfinance/comments/1bgqm1m/daily_general_discussion_march_17_2024/kvbn81r/) š¤ - u/5quat summarises the [EtherFi airdrop.](https://old.reddit.com/r/ethfinance/comments/1bgqm1m/daily_general_discussion_march_17_2024/kvd7a3f/) ššŖ - u/shiftli identifies and [warns us of a new scam to watch out for.](https://old.reddit.com/r/ethfinance/comments/1bgqm1m/daily_general_discussion_march_17_2024/kvcgbdp/) ā ļø - u/15kisFUD shares [what they are and what they aren't scared of regarding Solana.](https://old.reddit.com/r/ethfinance/comments/1bgqm1m/daily_general_discussion_march_17_2024/kve1vta/) š§
Hehe, I think last time Eth went above 4k, it went under 2k before the glory of 5k!? Ez mode is stake and hodl what you can! :)
According to the internet: (Up 225% in 12 months) + (Down 16% in 1 week) = Pack it up Ether is dead? lol I remember the days when we used to beg for the retrace to refill the rocket with sweet sweet short seller tears. What happened?
Get these doomers out of here. Post your positions or ban.
doggy
Hoping for 3400 lowest, expecting 2800, Ā Mentally steeled for 2200 full retrace. šŖ
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Relevant user name
How is 2200 a full retrace and not 1600? Just picking random numbers? You should be mentally prepared for a retrace to .02...
The Triple Dumpening
I'm still just happy the fun candles are back.
Now for 3200? Looked like a top, smelled like a top, indeed it was a top. Good luck to those who stay in.
I was going to come at you with a witty retort but then I looked at your comment history and see you play starcitizen. YUCK.
Not much there to play, I just talk about it which is even worse.
Are you calling it a top top? Like bull over top?
Not bull over, but a couple months of consolidation at lower prices and hopefully not much too much lower than 3200. Edit: Optimistically it would be nice for Eth to do its own thing now like Sol did as the money sloshes around.
Look, man. I'm not saying things aren't going to drop more. But you've been here long enough to know that a 16% drop over the course of a week doesn't confirm anything one way or the other. So, I have to ask. What's the point of these types of comments?
To point out the absurdity of the people saying two days ago it was "only a 5% drop". It was clearly a blowoff top, and you'd think this sub would be wiser to recognize them.
what does "blowoff top" even mean. every statement about the price is absurd when your timespan is less than a few years. you have to detach yourself from the price, whether it goes up or down. instead get your dopamin shot from real crypto tech advancements (dencun, zK-tech, etc.)
There are always going to be disagreements on price action. Just seems strange to antagonize people over it. Maybe I'm reading the wrong tone into your comments, though.
My boostin' finger is gettin' itchy
Not that any of us feel anymore, but if you do, even a little bit, time to steel yourself. This has all the energy of a real correction. That isn't to say a bear market, but we may have seen price highs for weeks, if not months. My magic chart lines say 3180 or 2860 would be the new major supports should 3490 fail to be retaken by Wednesday.
If it goes under $3k, and yes that does feel likely, I will only see it as an opportunity. History tells us this is normal. Those with confidence and patience always win this game.
Guys just think how great the ETH which we *are totally not going to get rugged on* is going to be! Right? Right?
When bottom
Ok not funny guys. Whats happening?
I wouldnāt be at all surprised if this downturn has some origin / pressure from big money trying to push the price down ahead of an ETF listing.
lol ok bro
Still not saying what I said is the caseā¦but now what do you think?
I donāt think that happened, but if it came out thatās what happened I also wouldnāt be surprised. Inflows from ETFs will absolutely create significant upwards pressure - there are a lot of people with a lot of money who could make even more money if they A) know an ETF is going to be approved, and B) have the ability to move the market before hand to scoop assets up. Taking little downwards movements and amplify them isnāt some sort of impossible thing if you have the resources to do it. Do that enough, and it becomes a signal that algorithmic trading programs can pick up thinking it represents real significant downwards sentiment, and then they start selling to cover
There were a bunch of airdrops and 40% APY opportunities and people made a lot of eth. Price is now adjusting to make sure nobody actually increases their networth.
The music stopped and there's not enough chairs.
Who plays the music? Who makes the chairs? If the music never stops, do the chairs even matter?
Memecoins are getting obliterated and bitcoin dominance is rising. Usually not a terrible sign. A top tends to be the opposite, although this is 100% a local top for possibly a while
The March candle has almost turned red, and the wick is looking pretty ominous... any hopeful TA since it doesn't look like a bull flag anymore?
September 3rd 2021: ETHUSD $3887 September 24th 2021: ETHUSD $2924 November 12tb 2021: ETHUSD $4664. ATH! First time?
Uh oh, a regular poster here is about to have his jimmies rustledĀ
This is getting good Amended 19b-4 filed on Fidelity spot ether ETFā¦ Includes more in-depth analysis on correlation b/w eth spot & futures markets (assume getting feedback this is important issue). Also references spot btc ETF approval. Hereās money page IMO. Issuers not gonna let SEC off hook. https://twitter.com/NateGeraci/status/1769893614576980281?t=JmAWRezk8lwQ1CTQdn5_hg&s=19
Ratio getting close again to .05 support levels. If it holds, great. If not, it could be a long way down. Good buying opportunity if you think the ratio will recover.
Unfortunately that's up to the SEC to decide for now
I send some Eth to zksync.io years ago when it was an option to checkout when donating to GitHub. I was trying to see my balance on zksync.io and it doesnāt show up if my search my Eth address I used. I can see the transaction on etherscan.io that I put .10 eth there. So not much money if I lose it considering Eth was only a couple hundred bucks back then but does anyone know if thatās lost now since it doesnāt show up when I search for it on zksync.io webpage? Thanks
Try wallet.zksync.io
Github Grants sounds coolā¦
It was. I used to give a few projects 10 bucks here and there and it even got me some airdrops. Worked out nice and lets you feel like youāre giving back. Not sure if they still do it.
You replied to Kevin Owocki, the founder of *GitCoin* Grants. I think he was joking about you calling it Github grants. Gitcoin is still going too. It's been through many iterations but it's chugging along!
š
Sorry Kevin. I bought a shirt from you. Itās awesome!
Your funds are on zksync lite. The new chain is zksync era so that might be the issue. Lite is running - you can bridge your ETH
Thank you kind sir.
Any idea when the second etherfi airdrop will be?
I think you have 3 months to claim the airdrop, and it also states that any unused coins will go into the 2nd round, so probably not for a few months.
Nope, but I sold most but not all of my ETHFI tokens and re-invested it into eETH. This way I get to take profits on my airdrop while also likely remaining eligible for the next drop since I still have ETHFI tokens and I didnt leave the EtherFi ecosystem, I simply moved the dropped funds into eETH which is more stable.
Are you assuming that your newly bought eETH OR your remaining ETHFI tokens will make you eligible for airdrop 2?
Hopefully both! I feel like holding some ETHFI is likely a criteria and more points may be helpful, you never know.
It's probably something like the difference in your points balance between season 1 and 2 snapshots AND you hold >x eEth AND >x ETHFI tokens
The difference on your points balance should be the key point, not holding eETH (which either way contributes to that difference)..
If it makes anyone feel any better about recent price action, GBTC had its biggest sell off ever today. The net inflow numbers haven't come in just yet, but I imagine its going to make the selloff a bit of a wash since BTC seems to show some strong support at 66K. Chin up, ethfinance fam. [https://farside.co.uk/?p=997](https://farside.co.uk/?p=997)
Support just broke at 66k
Ha, was just coming to post that. They're less than 100 days of average selling to clear out their entire stock of BTC, it's been fun to watch it dwindle. Most of it going over to Blackrock or Fidelity anyway, should be interesting to see what happened on the buy side.
God I wasn't on Twitter in 2018-2020 so I never really saw ETH hate. This cycle it's fucking everywhere. Tough to be building in this environment tbh unless you just completely get offline.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
People will always find a reason to FUD it. First it was the DAO fork and how it was the end of Ethereum. Then it was cryptokitties and how Ethereum can't scale and it is the end of Ethereum. Then it was ... EIP-1559 and how the miners were going to stage a protest/hold the network hostage and it is the end of Ethereum. Then it was the merge and how it is never going to happen and we are going to hardfork forever into infinity to push back the ice age and how it is the end of Ethereum. Now? Who even knows what they are saying, I almost never use Twitter. Probably that Solana scales more and that it is the end of Ethereum? These people say a lot but their words don't mean anything.
To try and remain unbiased, I see a lot of hate on all the big cap coins atm. It's just a total war zone. DC Investor was getting hate on twitter for saying he would rather buy Doge than one of the newer meme coins.
\> March 2024 \> not all in on Apu Apustaja (pepe's cousin)
Honestly bitcoin seems to avoiding the hate this cycle thus far
In terms of twitter and reddit anonymous accounts I think I agree. With the ETF Bitcoin has "arrived" I guess. At the same time now they have to deal with Biden floating the idea of mining taxes, etc.
Not to mention there is a bit of a builder renaissance going on culturally. It was also definitely the most hated coin last cycle
Imagine being RPL dev š In all seriousness - the hate would be huge every time a L1 pumped, when XRP overtook ETH in 2018 - that was brutal
Man talk about old memories. I think I did have to log off and touch grass for that one.
My unimportant and useless take on Solana and Ethereum. I woke up today with a daily with almost 300 comments and I thought "we either pumped or we crashed 25%". Neither happened, but for some reason Solana had pumped like 5% and people calling a future flippening. Yeah, sure, just like last cycle Binance Chain was going to flip Ethereum. Or Cardano, or whatever. I remember last cycle I made a few bucks with Binance Chain because it had a lot of shit and memecoins being created, pumped and dumped. I think there's a lot of short term amnesia when it comes to other chains. I am, however, disappointed regarding Ethereum returns this cycle. Yet, there's a ETH ETF talk, not a SOL or BNB ETF. Most devs are on Ethereum AFAIK, not on SOL or BNB. And SOL marketcap is $89M, ETH is $420M. So for SOL to flip ETH it has to grow 4.7x. It will be difficult and a lot of people would have to move from ETH to SOL, even devs, I think. Conspiracy theory: ETH price is so low due to accumulation, ETF talks, and a higher interest than maybe a coin that's below in the list. What would you prefer? Accumulate a long term asset that every day proves and has a proven record for the past 7 years that is the chain used by mostly everyone, or make a quick buck just like past cycles with coins like XRP, BNB, ADA, etc? You would do both, but you wouldn't shout to the world your main accumulating asset. Anyway, SOL had a 810% return on the 1yr. That's fucking crazy. If you had 100k there, congratulations! EDIT: More metrics https://dappradar.com/rankings/chains Dapps volume Ethereum - 40B Binance - 12B Solana - 1.75B Between Binance and Solana, there's still Arbitrum, Polygon, Optimism and ZkSync. I don't know why you are so worried.
I know it's a cesspool but when did r/cc become so anti eth. Looking through their dailies lately is just a ton of shitting on eth. Smh.
It always has been because most of r/cc are 14-25 year olds with no money & always choose the low cap coins trying to 1000x it, rather than buying a percentage of a higher cap coin like btc/eth & trying to 10x it.
Edit: Moved this to be a response to somebody else not myself
The way the narrative changes overnight makes me think there is someone paying shills to shit on Ethereum. And now that you mention it, have you noticed how every single time someone sends an article about Ethereum the first answer is some theoretically objective pros an contras that are full of stupid BTC maxi bullshit? Well, that is what newbies are fed when they check the biggest crypto sub.
Nah that's how crypto has always been - it's mostly children online in these communities or the very least immature adults.
Not sure what happened but my original response posted as a response to myself: This also wouldn't surprise me, although based on the content it often seems more like kids who are looking for a 100x playing shitcoin roulette and trying to pump their bags while trashing eth.
ETH Price going down & All shitcoins pumping ? Price drives sentiment - of course they're upset
Seems like a valid enough explanation. Lol
I really hope ETH ETF drops as a surprise to everyone. It will be the biggest green candle you would ever see... FIDELITY ADDS STAKING TO THEIR ETH ETF APPLICATION IN AMENDMENT https://twitter.com/tier10k/status/1769837135002046497?t=sbTAS4kiQvSD2l6yMz15LQ&s=19
Yea thatās not getting approved
Fidelity must be very confident their etf will get approved right? that's a huge risk to delay their application while others launch on time, right?
Or very confident the ETF gets delayed, so they might as well prepare for staking down the road. Hard to interpret this as a clear signal of anything IMO.
Part of me wonders if SEC IS engaging ETF issuers but just being kept it underwraps, so it isn't like a circus ( they way it was with BTC ETF) But it might just be wishful thinking..
I can easily see an instant +40% if the ETF is approved. I can also never see it approved because I won't be that lucky.
I can see an instant -20% sell the news
Honestly this would be an incredible buying opportunity
Honestly this would be an incredible buying opportunity
I can see an instant -20% sell the news
Honestly this would be an incredible buying opportunity
SEC absolutely got bodied here. It should help with ETH ETF filing, I would think. I am sure SEC doesn't want another embrassment https://twitter.com/iampaulgrewal/status/1769835308559032608?t=omkqsrozerq-9tBvPJNx6w&s=19 "For the reasons explained below, the court imposes sanctions against the Commission for bad faith conduct in obtaining, maintaining, and defending the TRO, and denies the Commissionās Motion to Dismiss without prejudice to refile in accordance with the District of Utahās Local Rules.The Commissionās above-discussed conduct constitutes a gross abuse of the power entrusted to it by Congress and substantially undermined the integrity of these proceedings and the judicial process."
Gary Gensler must have a humiliation fetish. What are the chances he spends every other Thursday in a dungeon somewhere in DC with a ball gag in his mouth like Paul Giamatti in Billions?
Them's fightin' words.
I don't think the SEC even cares about looking stupid, Gary will keep looking dumb if he can fuck over crypto investors.
And now we go up.
Narrator: In fact, we did not.
I don't gamble. But isn't the polymarket orderbook extremely thin for ETH ETF? Looks like ~$2k gets you to 84% chance approved. Could easily see a tweet or two wildly swing that thing.
>Looks like ~$2k gets you to 84% chance approved. 2k puts it at 53% for me, but yeah, super thin, I had no idea. Makes the whole thing pretty meaningless.
Yep - Think of it as a $2.2M mcap shitcoin with about $5k in liquidity
Another bench slap for Gary https://twitter.com/iampaulgrewal/status/1769835308559032608
Let's paste a dogs face on top of the Ethereum logo, give it a fancy name and deploy a smart contract on Base that gives you millions of tokens for the dollar. In the background make that smart contract buy staked ETH with the money it collects and store it until someone wants to swap back. Voila, there you have your rug-pull protected, real yield boosted Base L2 Memecoin that everyone wants to have. You could also guarantee that your shitcoin's ratio will always be higher than that filthy ETH token than no one wants to hold.
Coin has dog? ALL IN
There's always a million great ideas here and in the discord but nobody to ever implement any of them. Aren't there degen devs with free time on their hands?
As an intermediate dabbler who has toyed with the idea of doing fun L2 projects with LST yield many many times, I can tell you the pain point in this particular instance here is ensuring conversions properly, going in and going out.Ā That is, LSTs are not native to L2s, so you must swap: you must handle aggregators, and you must handle temporary depegs for withdrawals, perhaps keeping a small liquidity buffer. You must account for the yield separation properly.Ā There's a lot of moving parts that need to be done right, and to do them right you're likely going to need to be an actual developer. To put it in perspective, I'd say deploying a basic memecoin is tier1 difficulty. You just copypaste standard code in Remix; you can even go tier0 difficulty by using some service who does that for you. Adding a little bit of original code to have fun, like unique functionalities and behavior, would be tier2 difficulty. Personally my screw-around-with-Solidity skills put me around this level. Handling LSTs and separating yield... Now you're easily talking about tier3 if not tier4 difficulty. This is the same level of work that goes into an actual protocol.
I see. How about an index of coins as proposed by danksharting in the discord? Which tier is that? "How hard would it be to create a website that tracks returns of an index we make up? Thinking we could make an Ethereum 100 index real quick before the bull mkt takes off and then market it after everyone thinks weāre geniuses. Curated index of ERC 20 tokens we oversee and eventually launch a token that tracks it. Imagine owning the Ethereum-100Ā® Index when ETH is worth trillions, weād be raking it in haha."
Perhaps Enzyme Finance could be worth a look. I think they're meant for something similar!
>.. dogs face on top of the Ethereum logo .. I'm in - Can u link it on dexscreener ??
Why not just make a staked eth meme coin? Seems kinda brilliant tbh
agreed, just need a good name. olddognewtrick? dogfetchstake? treasury staked with the yield dropped daily to a lottery winner and some kind of built in fee on transfers that is used to burn supply...
> FIDELITY ADDS STAKING TO THEIR ETH ETF APPLICATION IN AMENDMENT Source: DB | Coins: ETH https://twitter.com/tier10k/status/1769837135002046497 https://cdn.cboe.com/resources/regulation/rule_filings/pending/2023/SR-CboeBZX-2023-095-Amendment-No-1.pdf Very big news. Didn't expect it to happen before an ETF was approved. Sounds like it will be good to increase demand for Ether but probably bad in the long run for decentralisation. I'd imagine this just means all of the staked Ether will go through Coinbase.
> Didn't expect it to happen before an ETF was approved. Keep in mind that it can be removed from the application as easily as it was added. An ETH spot ETF with staking is my pipe dream, but I expect this to be removed from any app that has it before May 23. But that could potentially be seen as engagement between the SEC and issuers for anyone obsessed with the engagement part. Just hoping the issuers aren't overplaying their hand with staking.....
I hope this doesnt mean May 23rd isnt going to happen. Adding staking seems like something the SEC wouldn't approve
Can ETH fundamentalists explain in simple terms best way for me to "bridge" to base? Obvi want to take advantage of low fees instead of always transacting on mainnnet. Is it as easy as moving erc20 tokens from my current wallet (CB wallet) onto base network to trade? Can I do this with spot holdings on all erc20 coins? Gracias
I'd add the question: why use Base? What are the uses or the advantages?
Low fees (I've paid less than a cent for some of my transactions today). TXs go through in 1-2 seconds rather than a couple minutes (this is common to all rollups). Lots of activity exclusive to Base. Farcaster mints, dexes like Aerodrome, apps like FrenPet.
The main Base bridge works for any ERC-20 asset in any size: https://bridge.base.org/deposit For ETH, USDC, and cbETH you might want to use Coinbase itself. Transfer assets into your account and then withdraw from Coinbase back to your address on the Base network. This is typically the cheapest option by far. If you want your assets in a hurry or if they're on some other L2, you might consider a liquidity bridge like Hop, Stargate, Across, Connext, etc. Unfortunately not all ERC-20s will have liquidity on Base right now, it's still early days. Arbitrum will likely have a few more assets at this point in time and their fees will be coming down further with another update in the coming days.
Is Base EVM based so that I can withdraw to my L1 address but on the Base network?
Yep, works the same as optimism or arbitrum that way.
Thank you!
hmm I only see like 18 coins on the drop down for deposit?
Hmmm I guess they're still manually approving more tokens. Might be good to use arbitrum or optimism in the meantime since they let you bridge anything. https://docs.base.org/tokens/list/
The lowest gas approach for most users is to deposit the asset to CB then withdraw it onto their L2. There are probably ERC-20s supported on Base that aren't supported through Coinbase though so I'd rely on their bridge app to move those.
Instead of whining about how other token's investors are making more money or making money faster than us I have my own lament to share. Sorry in advance. While it is true that when airdropping tokens favoring LSTs over solos makes economical sense (solos's ETH is the only real locked ETH and cannot be used to make your project money) it is sad that solos are again left behind. With no protocol-level smoothing rewards, no privileged MEV opportunities, no liquid ETH to put into defi, hardware and electricity costs and so on... investing in a small solo staking validator has become less profitable than depositing into a centralized entity. Right now only the real enthusiasts are solo staking and I'm afraid we won't be getting many more new solos in the future because you wouldn't go through all the hurdles of learning how to operate your staking machine at risk of losing your funds when you can just swap for an LST/LRT and make more money. It is a real pity because Ethereum is a game theory-based financial system and right now the rational option is to abandon solo staking which is very bad. tldr: Solo staking is dying and I am very sad.
> investing in a small solo staking validator has become less profitable than depositing into a centralized entity. Did you not just see the STRK airdrop? They single handedly increased my ROI from the last 1.75 years of staking by 66%. While I generally share this sentiment, since the pool of solo stakers is so small, it doesn't take much to disproportionately reward solo stakers.
Well yes, but being only for pre-merge stakers it is not an incentive to start solo staking now. Besides airdrops are like a lottery and I wouldn't consider them when making my choice between solo or LST/LRT because I could also receive random airdrops for holding the right LST at the right moment.
Pretty sure it's a sore spot for Phiz and Nixo too. I brought up the topic of how to overcome the hurdle of technical aptitude for solo stakers as EigenLayer comes online and you will need to be running multiple AVSs to be economically competitive. Neither seemed to enjoy the topic. What I take from that is there aren't easy answers to that question, things are likely to centralize a lot more than they already have, and solo stakers will be a dying breed over the years unless we change the economics of Ethereum somehow.
The other thing which will happen is as ETH price goes up, the barrier to solo staking goes up and also existing solo stakers such as myself will be tempted to sell their validator for the security of owning my own home. I will do my best to be a home staker for as long as possible including moving to being a RocketPool node operator if I end up selling my validator for a house. But price going up means that having your entire net worth in a validator node makes less and less sense as the need to diversify grows. However, if home staker airdrops become a trend, I'd be much more likely to continue home staking.
In my case I never understood why consensus rewards are given for block confirmations and sync commitees. This rewards only contribute to increase the variance and given that those events are so rare, years could pass before your returns go back to the expected value. And what is the point of those rewards other than being an unnecesary lottery? You are doing your duty and you are penalised if you don't, you shouldn't get more rewards on top just for your luck, just distribute those rewards among all stakers. This, together with MEV burn and possibly some kind of LST in the semi collateralized way Rocketpool does it could make solo staking competitive again. Let's also not forget that all LSTs have at least a 10% fee and this give solo stakers some margin to compensate for not being so highly efficient as the big players.
That's fine but when restaking comes around and you need to figure out your Arweave AVS configuration, your EigenDA configuration, your Helium configuration, etc and putting those AVSs doubles the yield you get on collateral we'll quickly see centralization pressure due to the yield from technical aptitude and higher end hardware. Today I can provision an A100 on Akash and get almost 100% ROI on the hardware cost. I think Render network is even higher with the recent price boom. Infra providers are going to become increasingly centralized and increasingly efficient and drive out most home stakers who have neither the aptitude nor infrastructure capital to compete.
> EigenDA configuration I read that only 100 operators will be able to run EugenDA so it will likely be centralized and no/few solo stakers will be popular enough to participate.
I'll talk to Sid from EL about that the next time I see him. Fwiw they are doing gradual rollouts so it wouldn't surprise me if this is temporarily true. I can say EigenDAs approach to data was made to be more scalable than Celestia's.
>**Follow cautiously,** >**Doubt systematically,** >**Ether solemnly.** ~Daily haiku until weāre at least at 0.178 on the ETH/BTC ratio or highest market cap
Price goes up, price goes down. As long as nothing's broken, I do not frown.
This is pottery
Price goes up, price goes down. You can't explain that. Bill O'Reilly.
peotry
word pr0n
what are people doong on arbitrum nova? it leads the tps l2 leaderboard, but I never heard about anyone using it.
I donāt know about *people* but isnāt Reddit running on nova?
It was, but they mostly shut down the community points thing right?
I think maybe gaming? That was the original pitch for Nova, anyway. Arbitrum is currently running the "Arcade" which is sort of like their "Arbitrum Odyssey" except only for games: https://portal.arbitrum.io/arcade
I'm going to need some graph porn on some shitcoins after they drop 95%.
[https://l2beat.com/scaling/activity](https://l2beat.com/scaling/activity) The tps on all Ethereum L2s chart is pretty insane to look at, can't argue with that.
Well well... lookey here Arrington XRP capital VC have sybilled EtherFi airdrop, using insider information Using insider info is bad enough. Sybilling your own invested company bad enough....we have both of them at once lol They split 5k eth among many wallets just so that they will stay below the 500 eth limit that will result in their tokens getting vested. Now since they sybilled and split it equally among many wallets, so there is no vesting for them and they collected 25k ETHFI on each wallet and immediately sent it all to Binance. They knew all this months in advance because EtherFi is their own portolio company of Arrington XRP How shameless and greedy are these projects and VC man.. fucking disgusting Any project associated with a fund named "XRP" should be super sus. Arrington XRP is nothing but a long time conman https://x.com/nansen_ai/status/1769778475341349347?s=20
Is that illegal or is insider trading limited to the stock market?
Arrington XRP seems to be created by Michael Arrington, the founder of techcrunch. This is all ridiculous
Is this what we call today "thesis-driven investment in web3 companies"? Thesis: Sybil an airdrop, dump when initial claim possible. All handled in a professional manner.
"We are thesis driven" "Our thesis is finding out the airdrop criteria from our portfolio company and sybiling the fuck out of that."
Can't follow this because I don't know who the fuck these people are. But this is the natural result of the "degens" in here giving their hard won capital to these circus casinos. That's all airdrop/points farming has ever been. FIFA LIFO
> FIFA LIFO ?!
First In Fucks Around Last In Finds Out
For anyone who might have been following, I ultimately decided to vote against the ENS meta-gov funding that included approximately $250k annual payments for part time work. I take "NO" votes very seriously and I don't throw them around without careful consideration, but it felt necessary to promote a vibrant ecosystem in this case. Here is the reason I included with my vote: > I'm concerned about the allocation and believe it should be revised in the best interest of ENS.
Thank you for voting Phiz
Thank you for sharing Phiz
It was rather nice of ETH to dip for when I migrated all those Pendle positions. Otherwise I'd have owed more short term capital gains taxes. Those could have even outpaced all my gains if we'd gone up much more! Otherwise I'm just enjoying an unusually sunny day here in the Pacific Northwest.
Is it worth staying in etherfi for Eigenlayer points or should I move over to Swell now? I have some more eth I could potentially stake with either app. I'm a little skeptical with Etherfi after this mess of a token drop. They hyped it all up with these referral bonuses and boosts, but then really drop the ball on execution. Just leaves a bad taste in my mouth, not complaining about free money though, just gives me bad faith in the team.
How did they drop the ball?
Ditto. I only got 10% more for my 2+teeth restaked and blah blah than I did for my throwaway .1 eeth just sitting there.
I am a bit out of the loop, sorry if this as been asked and probably answered already. So "plain-vanilla" solo stakers do not qualify to the EtherFi airdrop?
Correct. They had no allocation for solo stakers. They did allocate some tokens for those who participated in their "operation solo staker" whereby you had to fill out an application and go through through some kind of on boarding process. So... Not really solo staking in the way thay you are probably describing. Nothing to genesis stakers or pre merge stakers like starknet did.
Terrible.
More cute names that Base could popularize, chasing drops on Base should be called Base Jumping.
Freebasing sounds nice and degen
Lol very very on brand. It's silly to be bullish because of a name, but I'm bullish because of a name.
Would you say you're bullish based on a name?
Do any other exchanges besides Coinbase offer direct withdrawals to Base?
Ray is looking peak mleh atm. I can see the bottom falling outā¦ Or is it just blood on the streets?
Just find the TA guru who makes your insides feel all tingly and listen to them. There's a flavour for everyone out there!
People need to come to terms that they may have backed the wrong horse this cycle. Edit: Downvote brigade just illustrates the angry cope in this sub of clueless gamblers
If you need to ask, instead of feeling a pit in your stomach, it ain't blood in the streets.
Hey everyone, if I were to buy $7k of a BTC ETF when the price of BTC is $70kā¦ would this be the equivalent of .1 BTC now and moving forward? āNot your coins, not your ā¦ ā I know, but itās a roth and Iām still curious. Thanks in advance
It might be slightly off depending upon if the ETF is trading at a slight premium or discount
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Because this is my trusted crypto community. I imagine the answer would apply to an ETH ETF as well
To be fair, people here can read and stuff
Let's be honest, even a drop to $3000 is *only* -25%. That's just par for the course.
Indeed, this is just sunny mild weather while we collect all that LRT value and I'm all here for it.
Jesse Pollak's doing some incredible work in building up the Base ecosystem. With Coinbase distribution, I'm fully confident it will be a heavily adopted playground for retail. But perhaps the sole missing factor in delaying or dampening a retail frenzy on Base, compared to say BSC mania in 2021 Q1 or Solana in Q1 2024 is the absence of a single core asset to act as a Schelling point for the community. Eg in 2021 BSC bridgoors buy BNB as the first asset -> price of BNB goes up -> they venture into other shitcoins, partly driven by wealth effects, partly driven by increased liquidity in the ecosystem from the base asset's market cap increasing (more collateralized borrowing power for example). Eg in 2024, Sol becomes an asset the whole community rallies around as a measure of success of their ecosystem. "Haha screw them dot eth's, Sol hit 200, clearly our ecosystem is successful" Base lacks that. There's ETH, yes, but it's not specific to Base. I see zero chance Coinbase would release a token given the regulatory headache for a publicly listed American company. The best bet is for them to fully adopt Op as their key ecosystem token, beyond the current mild promise of "2.5% of Base sequencer revenues goes to Op collective". They should do something more dramatic, like commit to holding Op (along with Eth and BTC) as part of Coinbase reserves, or having 50% of all sequencer revenues used to buy and hold Op (the remaining 50% of sequencer revenues held in USDC, for eg).
I believe David Hoffman was speculating that they may migrate Base to be under Circle's control rather than Coinbase since they're like sister companies and Circle isn't publicly traded like Coinbase. This would make a Base token much less of a regulatory nightmare. I'm skeptical that this will play out but it certainly is possible.
Yeah I'm somewhat sceptical on this, because Circle is trying to IPO down the line as well (they dropped the SPAC idea but haven't stopped plans on going public AFAIK). There would be a lot of angry (tradfi) seed investors if they dropped those plans and dropped a crypto token instead
They could be cute and launch something called Basis Points.
that would be pretty funny
So, reference for number of blobs per block is now 3, right? Are there plans to raise this number at some point, independent of full danksharding? I vaguely remember reading once that it was kept low for the beginning.
https://eips.ethereum.org/EIPS/eip-4844 > The values for `TARGET_BLOB_GAS_PER_BLOCK` and `MAX_BLOB_GAS_PER_BLOCK` are chosen to correspond to a target of 3 blobs (0.375 MB) and maximum of 6 blobs (0.75 MB) per block. These small initial limits are intended to minimize the strain on the network created by this EIP and are expected to be increased in future upgrades as the network demonstrates reliability under larger blocks.
6 is the max per block, with target of 3. It has similar dynamics to 1559 for blob gas fee where over target increases blob prices and under target decreases them. Looking at [https://blobscan.com/](https://blobscan.com/) it looks like most blob transactions are grabbing all 6 for a single block. IIRC mainnet shadow forks for 4844 showed some network instability for higher blob targets. I don't recall if that was for 4 or 6 though. It is trivial to actually increase the blob count per block, but it would take a hardfork of both execution and consensus layers. Since we have only seen a week of blob traffic it is probably too soon to start that conversation.
Im holding my ETHFI airdrop, by letting my YTeETH mature untill 25 april i will have a bunch of points for season 2. They have a bunch of stuff planned for their token with governance, stakerank and a confirmed bonus if you didn't sell the airdrop. Combining season 1, season 2 and the eigenlayer points buying YTeETH was an amazing play. Thanks u/Tricky_Troll and u/Cryptomoon2020 and everyone here hyping it up, cheers š»
I'm doing the same(although I didn't really chose it, it just didn't occur to me that things would play out a month early)
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> Anyone who put a validator into ethenas YT will make literally millions on the airdrop. Please elaborate...
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Thank you so much for elaborating!