Evening News | Twitter accepts Musk's acquisition proposal; Fidelity plans to allow investors to open Bitcoin accounts in their 401(k) plans

Organizer: Cookies, Chain Catcher

"What important events have occurred in the past 24 hours"

1. Twitter announces acceptance of Musk's $44 billion acquisition proposal, transaction expected to complete this year

Twitter has announced that it has accepted the acquisition agreement from Tesla CEO Elon Musk. According to the agreement, Musk will acquire Twitter at a price of $54.2 per share, totaling approximately $44 billion. The transaction is expected to be completed in 2022, after which Twitter will become a privately held company.

Musk stated that he hopes to make Twitter better than ever by enhancing product features, making algorithms open-source to increase trust, defeating spam bots, and verifying identities for everyone.

Additionally, following the news of Twitter accepting Musk's acquisition proposal, the price of Dogecoin surged by about 27%. (Source link)

2. Jack Dorsey: Twitter should be a protocol-level public good, Elon Musk is the only solution I trust

Former Twitter CEO Jack Dorsey tweeted that (Elon Musk) taking Twitter back from Wall Street is the first step in the right direction for Twitter. In principle, I believe Twitter should not be owned or operated by anyone; it should be a protocol-level public good rather than a company. However, to solve this issue, Elon Musk is the only solution I trust, and I believe in his mission to expand the light of consciousness. Musk's goal of creating a "maximum trust and broad inclusivity" is correct, and it aligns with Twitter CEO Parag Agrawal's goals, which is why I chose him. (Source link)

3. OpenSea announces acquisition of NFT marketplace aggregator Gem

OpenSea has announced the acquisition of NFT marketplace aggregator Gem to improve user experience and invest in the future of professional communities. After the acquisition, Gem will continue to operate independently as a separate product and brand.

Gem allows users to purchase NFTs across multiple markets through a single, low-cost transaction and is known for its easy-to-collect floor price NFTs and rarity-based collectibles ranking. (Source link)

4. Yuga Labs' new project Otherside announces auction will use Apecoin for payment

Yuga Labs will launch its metaverse land project Otherside at midnight on May 1, Beijing time, announcing on Twitter that the Otherside auction will use ApeCoin for payment, with the minting adopting a Dutch auction format, meaning the price of ApeCoin will decrease over time. The starting price for the Dutch auction will be announced later this week. BAYC and MAYC holders can claim NFTs within 21 days after the auction. Additionally, all ApeCoin obtained from this auction will be locked for one year, meaning holders will not have voting rights in the ApeCoin DAO. (Source link)

5. Moonbirds parent company PROOF receives $10 million investment from 776 Management

Moonbirds' parent company PROOF announced today that it has raised $10 million from 776 Management, a venture capital firm co-founded by Reddit's co-founder. PROOF founder Kevin Rose's own venture capital firm, True Ventures, also participated in this round of financing.

Kevin Rose is also a co-founder of Digg and a venture capitalist. PROOF began as a podcast last year. In December, it launched PROOF Collective, a private community consisting of 1,000 members who access through NFT passes, allowing members to unlock free NFT drops, access future events, and enjoy other privileges and benefits. (Source link)

6. USN stablecoin officially launched on Near protocol, with an expected annual yield of 10%

Near DeFi department Proximity Labs announced that the stablecoin USN has officially launched on the Near protocol, managed by an independent team called Decentral Bank. This stablecoin is expected to yield approximately 10% annually from the income generated by Decentral DAO staking NEAR tokens with secure validators. Protocols such as Ref Finance, Burrow, Aurigami, and Bastion have decided to integrate the USN stablecoin.

USN is a decentralized stablecoin similar to TerraUSD (UST) and Frax Finance (FRAX), which are soft-pegged to the US dollar but do not hold US dollar cash reserves. The USN stablecoin can be minted by depositing NEAR tokens as collateral. (Source link)

7. NFT lending protocol JPEG'd to launch on April 27, initially supporting peer-to-peer pool mortgages for Cryptopunks

NFT lending protocol JPEG'd will officially launch on April 27, initially supporting peer-to-peer pool mortgages for Cryptopunks, with a debt ceiling of $5 million, which will increase to $10 million after one week. The annual interest rate for borrowing the stablecoin PUSd is 2%, and debt liquidation will occur when the debt-to-equity ratio equals or exceeds 33%.

Subsequently, JPEG'd will also deploy an EtherRock lending vault and is currently waiting for Chainlink to deploy two new oracles for BAYC and Azukis, with plans to explore other NFT series such as Clone X, Mutant Ape Yacht Club, and Moonbirds in the future. (Source link)

8. Fidelity Investments plans to allow investors to open Bitcoin accounts in their 401(k)

According to The Wall Street Journal, Fidelity Investments plans to allow investors to open Bitcoin accounts in their 401(k). Later this year, the 23,000 companies using Fidelity to manage their retirement plans will have the option to add Bitcoin to their retirement savings menu.

The 401(k) plan is a retirement benefit plan offered by U.S. companies that allows employers to establish a tax-deferred retirement savings plan for employees, and this pension can be invested in funds, stocks, and more. (Source link)

"What excellent articles are worth reading in the past 24 hours"

1. "Why decentralized social networks represent an inevitable historical trend as Musk acquires Twitter?"

Every generation of the internet has inspired innovations and native ways for netizens to share information, but it also has its own flaws. This article will analyze the opportunities and dilemmas of Web1 and Web2 to argue that the emergence of decentralized social networks is inevitable, and the Web3 revolution is cultural, financial, and social, with its impact permeating every corner of cyberspace.

From a new financial system to new cultural symbols, to labor organization, the Web3 revolution is here. The prerequisite is to establish an open, transparent, and fair public forum and information market for Web3 citizens who crave freedom and autonomy, free from political interference. Now, the latest phase of this revolution is decentralized social networks.

2. "Overview of Web3 social track: Which early projects are worth paying attention to?"

Many Web3 native projects are currently exploring transformations of social network models, establishing new Web3 social networks based on open social graphs, NFTs, or token economic models. This article will introduce nine representative projects, including Lens Protocol, Bluesky, DeSo, Mem Protocol, Cyberconnect, Atem Network, BBS Network, 5Degrees, NFTychat, etc.

3. "Hardcore interpretation: Why is Zero-Knowledge Proof (ZK) important?"

The prospects of ZK are promising, as it can turn some previously impossible things into reality. In recent years, there have been many groundbreaking advancements in the ZK field, such as stronger performance, scalability, and trustless initialization. These improvements have pushed ZK into the application phase. This article will introduce readers to what zero-knowledge proof is and why it is so important in an easy-to-understand manner.

4. "A detailed discussion on how social media can achieve 'decentralization'"

The decentralization of social media is a long-term trend. In a decentralized context, users can fully enjoy the conveniences brought by the internet while having control over their own content and privacy, which is the original intention of the internet. The author of this article is Ross Ulbricht, the founder of the Silk Road website, who published this article in April 2021, detailing his thoughts on the issue of social media decentralization.