Evening News | 12% of American adults held or used cryptocurrency last year; Terra claims version 2.0 is not a fork but a restart

Organizer: Cookies, Chain Catcher

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

1. Terra: The revival plan is not a fork of the existing chain, but the creation of a new chain

Terra's official Twitter stated that some community members (including some from TFL) have referred to the proposed new blockchain in Prop 1623 as a "fork" rather than a genesis chain. The revival plan is not about proposing a "fork" of the existing chain, but rather creating a new chain. The important distinction here is that a forked blockchain "shares all its history with the original (chain)," while Terra 2.0 will not.

Terra 2.0 signifies the genesis of a new blockchain. If Prop 1623 passes, a brand new blockchain (Terra) will be created starting from genesis block 0, without sharing history with Terra Classic. DApps or assets from the old chain (Terra Classic) will not pre-exist on Terra (which would be the case if it were a fork), thus requiring migration.

Moreover, most popular DApps built on Terra Classic have already committed to migration, including PRISM, Stader Labs, RandomEarth, OnePlanet, etc. (Source link)

2. Federal Reserve Report: 12% of adults held or used cryptocurrency in 2021

According to the Federal Reserve's report "Economic Well-Being of U.S. Households in 2021," it shows that in 2021, 12% of adults held or used cryptocurrency. Among them, 11% held cryptocurrency as an investment, while 2% used cryptocurrency to purchase items or make payments in the past 12 months, and 1% used cryptocurrency to send money to friends or family.

Additionally, among cryptocurrency users who only use it for investment, 46% have an annual income of $100,000 or more, while 29% have an annual income of less than $50,000. Among adults who use cryptocurrency for transactions, nearly 60% have an annual income of less than $50,000, and 13% do not have a bank account, compared to only 6% of all adults who do not have a bank account. (Source link)

3. Optimism has deleted 17,000 witch addresses, and the reclaimed 14 million OP will be redistributed proportionally to eligible users

Optimism has deleted 17,000 witch addresses during the airdrop user eligibility check and reclaimed over 14 million OP. All reclaimed OP will be redistributed proportionally to other recipients of Airdrop #1. According to inquiries, the airdrop page for eligible users currently shows more OP airdrop amounts than the initial data. Previously reported, on April 27, Optimism announced that it would conduct multiple rounds of token airdrops. (Source link)

4. Sources: FTX is in acquisition talks with at least three brokerage startups

According to sources, FTX has approached at least three brokerage startups for acquisition, including Webull, Apex Clearing, and Public.com. Previously, FTX CEO Sam Bankman-Fried purchased shares of the well-known U.S. online brokerage Robinhood. Retail traders are increasingly investing in cryptocurrencies and stocks, and some brokerage firms have been integrating these two asset classes (providing services).

A source stated that negotiations are still in the early stages, and no investment letter of intent has been reached. (Source link)

5. CoinDesk will launch the social token DESK on Polygon

Crypto media CoinDesk announced the launch of its social token DESK, which will be utilized at Consensus 2022. Participants at the event held from June 9 to 12 in Austin, Texas, will be able to earn DESK by claiming badges during registration, visiting exhibitor booths, or joining CoinDesk's relaunched Discord. DESK can be redeemed for a range of rewards at the event.

DESK will be issued on Polygon and is not a fully decentralized token; CoinDesk may adjust the supply of DESK. After Consensus 2022, CoinDesk plans to expand DESK as a participation reward program to a broader audience, including future event participants, readers of news services and research reports, TV viewers, and podcast listeners. (Source link)

6. Data: StepN's monthly revenue reaches $100 million, daily trading fee net profit reaches $3 to $5 million

According to TechCrunch, the Move to Earn app StepN has a monthly revenue of up to $100 million, with daily trading fee net profits reaching $3-5 million. StepN co-founder Jerry Huang recently stated in an interview with TechCrunch that StepN currently has 2 to 3 million monthly active users globally, with "tens of thousands of new users joining StepN every day."

It is reported that StepN currently has a team of about 70 people in countries such as Australia, the UK, the US, and Singapore, and is still rapidly expanding, with plans to build StepN social products around its token holder community. (Source link)

"What are some great articles worth reading in the past 24 hours?"

1. “The Content Governance Dilemma of OpenSea: Starting from the Okay Bears Removal Incident”

This article provides a detailed analysis of the OpenSea removal of Not Okay Bears, allowing readers to clearly understand the background and consequences of the incident, as well as the rivalry between ETH and Solana supporters. The author then illustrates the controversial review standards of OpenSea by listing NFT projects that have been removed due to its "lazy review" mechanism. The article concludes with a broader reflection: What kind of content governance is needed in the Web3 era?

2. “In-depth Analysis of Avalanche: From EVM-Compatible L1 to 'Subnet Pioneer'”

Avalanche, with its unique subnet design, can be viewed as both an EVM-compatible L1 and a heterogeneous network interoperability platform (similar to L0), with L2 also able to be built on Avalanche's infrastructure. Since its establishment in 2020, Avalanche has developed into a vibrant ecosystem, currently hosting over 500 DApps with a total locked value exceeding $5 billion. This article discusses Avalanche's advantages and future challenges by comparing various data points with its competitors.

3. “NFT Trading Platforms: Blue Ocean or Red Ocean Market?”

In recent months, new trading platforms such as X2Y2, LooksRare, and Coinbase NFT have emerged, and the secondary market is gradually showing signs of saturation. This article analyzes various data points of NFT trading platforms based on the concepts of blue ocean and red ocean, discussing market value, operational models, and traffic capture, engaging readers in a conversation about how to drive innovation in the NFT market and find the right market positioning.