Dear Readers, Welcome to Inside Decentralized, a weekend special edition of our Inside Cryptocurrency newsletter. Inside Decentralized will best equip you for the future of Web 3.0, and help you either disrupt incumbents or defend against getting disrupted yourself! We’ll explore the impact of blockchain-based decentralized applications on industries including finance and gaming to social media and music. As part of the launch of this new newsletter, our Inside Team is hosting a discussion on Web 3.0 Applications on Twitter Spaces on Aug. 5 (Set A Reminder). We’d love to see you there and hear your thoughts on Decentralization and the future of Web 3.0. Very best,
Anthony |
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Total AUM of DAOs is $7.75B, up 16.5% over the last 7 days. Thirty-four DAOs manage more than $1M, and 41 DAOs have over 100 members. In total, there are 713.2K DAO Members and DAO Token Holders.
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 Reddit started using Arbitrum, a Layer 2 rollup, to scale its Ethereum-based community tokens, called Moons and Bricks. The tokens were launched last year as part of Reddit's Community Points program. After trying the scaling solution on Ethereum's Rinkeby testnet, Reddit will migrate to the mainnet. If successful, the integration would accelerate Moon and Brick transaction speeds and reduce gas fees. More: - Developers can use Ethereum's computation layer to create and publish smart contracts and build and monetize distributed applications (dApps).
- Ethereum generates money by charging its users fees, which depend on the computation power used to execute its smart contracts.
- Running this code can take a lot of computer power and result in extremely high fees, which have previously exceeded $100 per transaction.
- Arbitrum is a Layer 2 rollup. It runs Ethereum's smart contract computations on its own network and then sends the net result back to the main Ethereum blockchain.
- These computations are processed "off-chain," helping reduce Ethereum's high gas fees and increase transaction speed.
Analyst's Take - There's a lot of chat about Web 3.0 applications disrupting large, powerful technology incumbents.
- Personally, I'm not convinced things will become "100% decentralized and permissionless."
- Instead, I think centralized incumbents, like Reddit, will add decentralized features into their ecosystems when it creates value for their customers.
- How do you think decentralization could manifest itself in your industry? What are you doing to best equip yourself for the future of Web 3.0?
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Total Value Locked in DeFi is $70.72B, up 14.6% in the last 7 days. Aave dominance is 15.98%. The DeFi Pulse Index price is $329.08, up 34.10% in the last 7 days.
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 Aave, the decentralized lending and borrowing protocol, rebranded its platform for institutional investors from Aave Pro to Aave Arc. The platform, whose goal is to offer institutional investors the DeFi protocols they otherwise can't access due to stringent regulations, is estimated to launch "weeks from now." More: - DeFi lending and borrowing protocols like Aave use smart contracts to eliminate the role of intermediaries, like banks.
- Aave lets its users post a wide variety of assets as collateral and borrow other crypto assets against them.
- Aave remains solvent by liquidating the borrower's loan if their collateral value goes below a specified loan-to-value ratio.
- Aave's CEO, Stani Kulechov, said its new platform would create new lending and borrowing pools exclusive to institutional investors who have passed certain KYC procedures.
- Kulechov said Aave Arc's vision was to "create a more comfortable risk appetite for institutions to participate in decentralized finance."
Analyst's Take: - Aave Aarc's rebrand evidences the care and attention Aave is paying to its new institutional offering.
- On a recent podcast, Kulechov said Aave Arc was built to satisfy institutional demand for DeFi, indicating that many institutions believe they can add to their bottom line by using DeFi protocols.
- This raises the question: what happens to the incumbents who don't adopt DeFi? Do they get outcompeted by their more technologically astute counterparts?
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Total Market Capitalization of Stablecoins is $116.87B. Stablecoin trading volume is $58.65B, 78.45% of the total 24-hour crypto market volume. Tether (USDT) dominance is 52.95%.
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Quick Hits - More than 10,000 entrepreneurs have saved up to $40,000 while incorporating their company. Learn how.*
- EthSign, a dApp that records signed electronic documents on Ethereum, raised a $650,000 seed round led by Draper Associates.
- Uniswap's growth lead said the DEX was engaged in low-level talks with major fintech companies, including PayPal and Robinhood.
- Ethereum's London hard fork will launch next week on Aug. 4 with block 12965000. Full implementation of ETH 2.0 and EIP 1559 will see Ethereum transition from proof-of-work to proof-of-stake.
- Coca-Cola partnered with avatar developer Tafi to launch NFTs in Decentraland.
- Uniswap restricted access to certain tokens, including inverse synthetics from Synthetix, Uma's option tokens, Mirror's mirrored tokens, gold Tether, and Opyn insurance tokens.
- 39.6% of US remote employees reported concentration difficulties when using video communication tools. See how to create engaging meetings and virtual events.*
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Weekly NFT Trade Value was $144.85M, up 236%. Trade Volume was ~31,310 transactions, down 10.4%. The number of Weekly NFT Active Market Wallets was ~13,370, down 22.2%. The top weekly sale was $5.5M for a CryptoPunk.
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Podcasts & Videos - Contributing to DAOs, Transitioning Audiences from Web2 to Web3, and Generative Squiggles, Flex Chapman, The Culture Economy Podcast
- Are Looming Regulations Putting an End to Bitcoin's 'Wild West' days?, Frank Chaparro, The Scoop
- Why Erik Voorhees Transitioned ShapeShift into a DAO, Jason Yanowitz, Blockworks
- A Case for Separation of Powers in DAOs, Jimmy Ragosa, EthCC Paris
- DAO-first capital formation, Kain Warwick, EthCC Paris
- Things That Matter Outside of DeFi, Vitalik Buterin, EthCC Paris
- Building a Decentralized BlackRock, Index Coop, Bankless
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Upcoming Events - August 5 - Decentralized: Web 3.0 Applications discussion on Twitter Spaces (Set A Reminder)
- August 17 to 19 - Ai4 2021 explores the top use cases of artificial intelligence for enterprise. Apply for a complimentary pass today! (Apply Here)*
- August 18 - AMA with Lolita Taub, GP at The Community Fund (Register Here)
- August 24 - Growth Marketing Jam Session with Jenny Bryan and Craig Zingerline (Register Here)
- August 26 – DAOs: Disrupting with Code (Register Here)
- September 15 - Psychedelic Medicine: Fad or Phenom? (Register Here)
- October 26-27 – Meet our Fund Fall ’21 Cohort (Register Here)
Want to see all of our upcoming events? Visit us at https://events.inside.com *This is a sponsored event posting
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 |  | Anthony Avedissian is an entrepreneur who currently resides in Yerevan, Armenia. Anthony has created 3 businesses; a music production company, a strategic consultancy and a health tech start-up. Anthony was previously an investment analyst at a London-based hedge fund and is a keen investor in stocks, start-ups, cryptos and properties. Anthony is passionate about economics, technology, health, cooking, music, Muay Thai and much more! |   | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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