Volume 1 | Edition 16 | October 4, 2023
Ahh, Thursday morning.
Thursday means that it’s almost Friday.
It also means that you are back here for another edition of Chain Reaction, soon to be produced by [REDACTED]!
Welcome back and good morning on this crisp October morning. The first two weeks of October may be the only thing I miss about living in the Midwest. There is something about that Fall air, cider mills, high school football, and bonfires with friends on cool evenings that really do it for me.
Most of the year, however, is gross from a weather perspective.
I hope everyone has some good stuff going on outside of crypto because things are looking barren these days, eh?
Other than CryptoLink and a few of our close partners, there isn’t too much close to home that excites me. The Interchain Intel section this week is thin. Most of the news in the space is at a high-level right now and primarily revolves around legal battles such as the FTX saga and the SEC asking for an appeal on the XRP ruling.
I wouldn’t show up empty-handed for you guys, though.
There were a few diamonds in the rough this week that I found intriguing enough to click on and I hope you feel the same way after reading!
As I am just getting started on this for the evening, I’m not sure how long it will be, but I would expect a shorter edition this week.
Have no fear.
Soon there will be more than just Chain Reaction to read…
We have some decent media ideas sometimes. And some decent partners that were down to help.
It’s cooler than fifty ferrets in a trench coat, I promise.
On to the fun stuff!
Here, we delve into the latest and greatest in the CryptoLink ecosystem!
CryptoLink has finally and officially launched on PulseChain!
We have successfully opened the bridge meaning anyone can swap in and out of the PulseChain ecosystem using AnyToAny.io or any of our integrated clients on the Pulse blockchain.
Hey #PulseChain fans! The wait is over👀
CryptoLink's instant cross-chain @AnyToAnySwap has launched on Pulse! You now have access to swap into and out of your favorite tokens!!
Access Pulse from 8+ blockchains with ~30 second X-chain swaps. 🚀
Say goodbye to bridging!
— CryptoLink.Tech (@CryptoLink_Tech)
Oct 4, 2023
One of those clients is Pulswap! Be sure to check them out and remember that any Pulswap volume is also CryptoLink volume.
If you are a part of the “pDAI to $1” mission, then I urge you to check out what Pulswap is doing. Not to mention it’s always great when our integrators win. We always want to show clients what kind of volume the tech can bring to their site when they integrate.
Next stop: The big one. Ethereum.
Remember, when the Ethereum Validator reservations go live we will have a slightly different structure. There will be 10 Genesis tier Validators that run at $10k LP stake on the chain.
🔟NEW GENESIS TIER STRUCTURE🔟
This is a BIG development and it was done for the sake of inclusivity and decentralization.
The Genesis Tier ($10k LP Value) slots are being extended to 10.
You read that correctly. There will be 10 Genesis Tiers available on ETH.
— CryptoLink.Tech (@CryptoLink_Tech)
Sep 18, 2023
Stay tuned for more announcements!
Another weekly space!
Ok, this isn’t totally new because we were running weekly X spaces with the EgoVerse and W3RKS teams already. The difference is that we now have a vision for what we want in the production of the whole thing.
Nomad Network will be a show hosted by E, CEO EgoVerse and W3RKS, and myself.
Wednesdays at 5PM EST E and I will be breaking down the topics no one wants to cover in web3. We are going to talk about the realities that projects, teams, and users are all facing amid a battering bear market.
Some people may not like to hear what we have to say all the time, but the point of the show is to capture raw opinions and feelings on trends, tech, and communities within the web3 space.
I’m excited to finally get to work with E officially on some sort of media project. The guy is sharp as can be but also paints the picture how he sees it. You won’t get fluff and bulls*** from E, be prepared.
The goal is to build out short form around the recordings and work this into the greater media vision I’m building out with Gary and Mac from the Gauss team.
S/o to E for jumping on this journey with me to this extent. If you don’t follow him already, check out the link below to follow his X account and get incredibly raw takes daily from a real builder in the space.
Also be sure to check out the recording of episode one, things got spicy!
— Wally (@CryptoLinkWally)
Oct 4, 2023
This section covers major recent developments and trends in the crypto world.
PayPal is NOT missing the next crypto cycle; they are making sure of that.
On September 21st PayPal applied for a patent. That patent is for a “Non-Fungible Token Purchase and Transfer System”.
That’s right, PayPal wants to start an NFT marketplace.
A few of the notable portions of the application are the following:
Includes the use of a third-party service provider.
This challenges the popular notion that most, if not all, enterprise solutions will build their own blockchains to bring ecosystems on-chain. The third-party service provider is likely a blockchain as Ethereum was mentioned as an example.
Implications of a DAO structure in the future.
I don’t even know what to think about this part exactly. DAO has lost its meaning at this point.
Mentions of fractionalized NFT purchases
This solves a plethora of problems, but some also see this as an attachment to the DAO mention. This could mean governance tokens.
Illustrations with an “omnibus” wallet connecting to the third-party service provider.
Will PayPal create their own omni-chain wallet?
Logical conclusions lead you to believe that it isn’t too far into left field.
Super interesting stuff, nonetheless, keep an eye on PayPal!!!!
It was a matter of time before something like this happened with a platform that signs you up with your phone number.
A flurry of SIM-swap attacks recently drained close to 109 ETH in ‘keys’ from users, underscoring the lurking vulnerabilities even in seemingly secure platforms.
It seems FT is already attempting to make swift settings updates to help users protect themselves against this, though it’s likely that plenty of ETH is still hanging in the balance on accounts that have yet to update their security settings.
Friend Tech has added “Manage login methods” after yesterday’s SIM SWAP wave 🔄
We shall see if it ends the dumping wave 🚮
— Ataberk 🖇️ (@ataberkrgn)
Oct 4, 2023
FT has been a popular platform lately, though the steam seemed to die down before this even happened.
Competitors are popping up left and right spreading the idea so thin that it’s hard to imagine it’s not just another community cannibalizing itself.
It is worth keeping an eye on if you are into FT or social platforms like it.
I initially thought the ideas were fairly novel, but it seems a bit lofty to assume that these platforms can outpace others like X that are getting ahead of the social monetization game at a scale that web3 can’t touch.
Telegram is getting its own blockchain!
Technically it already had one, but it wasn’t built out and developed upon to provide the interoperability you’d like to see from someone like Telegram and its messaging app.
TON blockchain, a blockchain that Telegram developed, secured an 8-figure bag in a raise with MEXC, the popular, and *arguably* infamous, trading firm.
Expect some blockchain interoperability with the Telegram app in the future! Eight figures = a lot of money to build with right now in this space.
MEXC plans to continue to fund the development of blockchain interoperable mini apps that can live within the Telegram app, making life easier for a large chunk of those in web3. Some of these apps include gamefi and wallets.
It is fair to note here that Telegram rolled out TON-Wallet integration with the Telegram app in mid-September.
Will this be the web3 “Super App” that everyone is hoping for?
Can something like this help onboard users?
Will it fall on its face?
Your guess is as good as mine, but I think they may be on to something here.
All the nerds can check out the patent application HERE.
Updates and insights from across different blockchain networks.
Another season, another fad.
The Friend Tech idea is here to stay, at least for now it seems.
Stars Arena launched recently and has picked up steam in my neck of the X woods, at least.
Stars Arena Transaction Volume and User Activity has skyrocketed today, surpassing ALL #SocialFi applications
➡️Surpassing 200,000 transactions today, The Arena currently has over 300% more transaction volume than any competitor
➡️TVL also increased 300% over the previous… twitter.com/i/web/status/1…
— tradingtulips🌷 (@tradingtulips)
Oct 4, 2023
Stars Arena is currently crushing competitors like Friend Tech and has brought a fair amount of attention to the chain, short-lived as it may be.
Yesterday, according to @TradingTulips on X, Stars Arena is hitting 200k transactions per day which is over 300% any competitor.
I’m not sure how long this one is around to stay, but it seems people like the product more than Frend Tech. (for now)
I've capitulated in creating a Stars Arena account after seeing it all over my timeline.
Won't shill my own ref link, but a few thoughts:
Stars Arena is superior to Friendtech in a lot of ways and solves one of the main problems I had with FT.
There is a public feed, so people… twitter.com/i/web/status/1…
— wale.swoosh 🐳 (@waleswoosh)
Oct 4, 2023
If you are an AVAX maxi, this is good news.
Stars Arena launched about 7 days ago and this is what the 7-day chart for AVAX looks like.
7-day AVAX chart on CoinMarketCap
Time will tell, anon.
It always does.
Here, we explore the latest technological advancements and innovations in the blockchain space.
I came across another neat tool this week that everyone can appreciate.
We all hate scams.
Honeypots, phishing, direct swap functions, permit attacks and a plethora of other bad functions that can be hidden in your everyday clicks and interactions in web3.
A company by the name of Web3 Antivirus is combatting these classic but dangerous schemes with a simple browser extension.
Their extension is capable of scanning contracts before interacting with them to find malicious functions and warn the user.
From Web3 Antivirus
The extension can also see if the contract in question has interacted with any malicious contracts before such as being involved in a previous rug pull.
It’s interfaceable with Chrome, FireFox, Brave, and Edge and can also detect high transaction fees that may be suspicious. Anything over 15% gets flagged and anything over 50% is labeled a honeypot on the platform.
I have not had the opportunity to use the tool myself, though I look forward to checking it out this weekend when I have some time.
Tools like this are needed in the space, especially for those interacting with more “decentralized” and less-curated ecosystems like Ethereum.
If you want to learn more, I am linking their X account below!
If you want to find their website, click HERE.
In this section, we decode complex blockchain and cryptocurrency concepts into understandable language.
Everyone has heard the name, but what does it mean?
What exactly are Web3 Antivirus and similar applications trying to protect you from?
In reality, a lot of it is protecting you from… you.
A honeypot is aptly named, it looks enticing, almost too sweet to be true. That’s because they are.
Honeypot scams lure users in with promises of large and quick profits. This can be in the form of influencer marketing, faux flaws in the contract, or simply a juicy chart on DEX Screener.
The only problem?
They have a malicious function in the background that traps your funds and sends them into the blockchain abyss, typically through a mixer to the scammer’s wallet.
The way these are executed multi-faceted.
Sometimes the buy taxes are jacked way up. Sometimes there is a transfer all function, sometimes the contract simply takes your tokens and lies to you on the front end.
This is why tools such as Web3 Antivirus are important.
They didn’t even pay me to shill them, maybe I should ask.
Regardless, you likely don’t have the time or the expertise to learn solidity and comb contracts yourself. Most of us don’t, I include myself in that as well.
Find a simple solution to keep yourself safe in DeFi!
It’s still wild to me that we are already here. It really doesn’t seem all that long ago that we were still seeing TikToks of SBF and videos labeling him the “most generous billionaire in the WORLD!”. lol
The space is rough, and we have talked about that. There has never been a better time to get over the copeium and put on reality goggles.
There is a massive upside to seeing things how they really are in the space. It’s not sexy for your bags but you can position yourself to be wildly successful a year or two from now.
Where will you be when the music stops, ladies and fellas?
I love you people. You could be doing a lot with your time, but you found yourself here.
One day I’d like to buy you a coffee. Or an alcoholic beverage if that’s more your style. Either way, you are amazing, and I appreciate you.
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ZEALY CODE: Is Lamp secretly a furry? What is Ferret not telling us? How many ferrets are in that trench coat? I’m convinced there’s more than 50.