More on Web3 & Crypto
JEFF JOHN ROBERTS
3 years ago
What just happened in cryptocurrency? A plain-English Q&A about Binance's FTX takedown.
Crypto people have witnessed things. They've seen big hacks, mind-boggling swindles, and amazing successes. They've never seen a day like Tuesday, when the world's largest crypto exchange murdered its closest competition.
Here's a primer on Binance and FTX's lunacy and why it matters if you're new to crypto.
What happened?
CZ, a shrewd Chinese-Canadian billionaire, runs Binance. FTX, a newcomer, has challenged Binance in recent years. SBF (Sam Bankman-Fried)—a young American with wild hair—founded FTX (initials are a thing in crypto).
Last weekend, CZ complained about SBF's lobbying and then exploited Binance's market power to attack his competition.
How did CZ do that?
CZ invested in SBF's new cryptocurrency exchange when they were friends. CZ sold his investment in FTX for FTT when he no longer wanted it. FTX clients utilize those tokens to get trade discounts, although they are less liquid than Bitcoin.
SBF made a mistake by providing CZ just too many FTT tokens, giving him control over FTX. It's like Pepsi handing Coca-Cola a lot of stock it could sell at any time. CZ got upset with SBF and flooded the market with FTT tokens.
SBF owns a trading fund with many FTT tokens, therefore this was catastrophic. SBF sought to defend FTT's worth by selling other assets to buy up the FTT tokens flooding the market, but it didn't succeed, and as FTT's value plummeted, his liabilities exceeded his assets. By Tuesday, his companies were insolvent, so he sold them to his competition.
Crazy. How could CZ do that?
CZ likely did this to crush a rising competition. It was also personal. In recent months, regulators have been tough toward the crypto business, and Binance and FTX have been trying to stay on their good side. CZ believed SBF was poisoning U.S. authorities by saying CZ was linked to China, so CZ took retribution.
“We supported previously, but we won't pretend to make love after divorce. We're neutral. But we won't assist people that push against other industry players behind their backs," CZ stated in a tragic tweet on Sunday. He crushed his rival's company two days later.
So does Binance now own FTX?
No. Not yet. CZ has only stated that Binance signed a "letter of intent" to acquire FTX. CZ and SBF say Binance will protect FTX consumers' funds.
Who’s to blame?
You could blame CZ for using his control over FTX to destroy it. SBF is also being criticized for not disclosing the full overlap between FTX and his trading company, which controlled plenty of FTT. If he had been upfront, someone might have warned FTX about this vulnerability earlier, preventing this mess.
Others have alleged that SBF utilized customer monies to patch flaws in his enterprises' balance accounts. That happened to multiple crypto startups that collapsed this spring, which is unfortunate. These are allegations, not proof.
Why does this matter? Isn't this common in crypto?
Crypto is notorious for shady executives and pranks. FTX is the second-largest crypto business, and SBF was largely considered as the industry's golden boy who would help it get on authorities' good side. Thus far.
Does this affect cryptocurrency prices?
Short-term, it's bad. Prices fell on suspicions that FTX was in peril, then rallied when Binance rescued it, only to fall again later on Tuesday.
These occurrences have hurt FTT and SBF's Solana token. It appears like a huge token selloff is affecting the rest of the market. Bitcoin fell 10% and Ethereum 15%, which is bad but not catastrophic for the two largest coins by market cap.
Koji Mochizuki
3 years ago
How to Launch an NFT Project by Yourself
Creating 10,000 auto-generated artworks, deploying a smart contract to the Ethereum / Polygon blockchain, setting up some tools, etc.
There is so much to do from launching to running an NFT project. Creating parts for artworks, generating 10,000 unique artworks and metadata, creating a smart contract and deploying it to a blockchain network, creating a website, creating a Twitter account, setting up a Discord server, setting up an OpenSea collection. In addition, you need to have MetaMask installed in your browser and have some ETH / MATIC. Did you get tired of doing all this? Don’t worry, once you know what you need to do, all you have to do is do it one by one.
To be honest, it’s best to run an NFT project in a team of three or more, including artists, developers, and marketers. However, depending on your motivation, you can do it by yourself. Some people might come later to offer help with your project. The most important thing is to take a step as soon as possible.
Creating Parts for Artworks
There are lots of free/paid software for drawing, but after all, I think Adobe Illustrator or Photoshop is the best. The images of Skulls In Love are a composite of 48x48 pixel parts created using Photoshop.
The most important thing in creating parts for generative art is to repeatedly test what your artworks will look like after each layer has been combined. The generated artworks should not be too unnatural.
How Many Parts Should You Create?
Are you wondering how many parts you should create to avoid duplication as much as possible when generating your artworks? My friend Stephane, a developer, has created a great tool to help with that.
Generating 10,000 Unique Artworks and Metadata
I highly recommend using the HashLips Art Engine to generate your artworks and metadata. Perhaps there is no better artworks generation tool at the moment.
GitHub: https://github.com/HashLips/hashlips_art_engine
YouTube:
Storing Artworks and Metadata
Ideally, the generated artworks and metadata should be stored on-chain, but if you want to store them off-chain, you should use IPFS. Do not store in centralized storage. This is because data will be lost if the server goes down or if the company goes down. On the other hand, IPFS is a more secure way to find data because it utilizes a distributed, decentralized system.
Storing to IPFS is easy with Pinata, NFT.Storage, and so on. The Skulls In Love uses Pinata. It’s very easy to use, just upload the folder containing your artworks.
Creating and Deploying a Smart Contract
You don’t have to create a smart contract from scratch. There are many great NFT projects, many of which publish their contract source code on Etherscan / PolygonScan. You can choose the contract you like and reuse it. Of course, that requires some knowledge of Solidity, but it depends on your efforts. If you don’t know which contract to choose, use the HashLips smart contract. It’s very simple, but it has almost all the functions you need.
GitHub: https://github.com/HashLips/hashlips_nft_contract
Note: Later on, you may want to change the cost value. You can change it on Remix or Etherscan / PolygonScan. But in this case, enter the Wei value instead of the Ether value. For example, if you want to sell for 1 MATIC, you have to enter “1000000000000000000”. If you set this value to “1”, you will have a nightmare. I recommend using Simple Unit Converter as a tool to calculate the Wei value.
Creating a Website
The website here is not just a static site to showcase your project, it’s a so-called dApp that allows you to access your smart contract and mint NFTs. In fact, this level of dApp is not too difficult for anyone who has ever created a website. Because the ethers.js / web3.js libraries make it easy to interact with your smart contract. There’s also no problem connecting wallets, as MetaMask has great documentation.
The Skulls In Love uses a simple, fast, and modern dApp that I built from scratch using Next.js. It is published on GitHub, so feel free to use it.
Why do people mint NFTs on a website?
Ethereum’s gas fees are high, so if you mint all your NFTs, there will be a huge initial cost. So it makes sense to get the buyers to help with the gas fees for minting.
What about Polygon? Polygon’s gas fees are super cheap, so even if you mint 10,000 NFTs, it’s not a big deal. But we don’t do that. Since NFT projects are a kind of game, it involves the fun of not knowing what will come out after minting.
Creating a Twitter Account
I highly recommend creating a Twitter account. Twitter is an indispensable tool for announcing giveaways and reaching more people. It’s better to announce your project and your artworks little by little, 1–2 weeks before launching your project.
Creating and Setting Up a Discord Server
I highly recommend creating a Discord server as well as a Twitter account. The Discord server is a community and its home. Fans of your NFT project will want to join your community and interact with many other members. So, carefully create each channel on your Discord server to make it a cozy place for your community members.
If you are unfamiliar with Discord, you may be particularly confused by the following:
What bots should I use?
How should I set roles and permissions?
But don’t worry. There are lots of great YouTube videos and blog posts about these.
It’s also a good idea to join the Discord servers of some NFT projects and see how they’re made. Our Discord server is so simple that even beginners will find it easy to understand. Please join us and see it!
Note: First, create a test account and a test server to make sure your bots and permissions work properly. It is better to verify the behavior on the test server before setting up your production server.
UPDATED: As your Discord server grows, you cannot manage it on your own. In this case, you will be hiring several moderators, but choose carefully before hiring. And don’t give them important role permissions right after hiring. Initially, the same permissions as other members are sufficient. After a while, you can add permissions as needed, such as kicking/banning, using the “@every” tag, and adding roles. Again, don’t immediately give significant permissions to your Mod role. Your server can be messed up by fake moderators.
Setting Up Your OpenSea Collection
Before you start selling your NFTs, you need to reserve some for airdrops, giveaways, staff, and more. It’s up to you whether it’s 100, 500, or how many.
After minting some of your NFTs, your account and collection should have been created in OpenSea. Go to OpenSea, connect to your wallet, and set up your collection. Just set your logo, banner image, description, links, royalties, and more. It’s not that difficult.
Promoting Your Project
After all, promotion is the most important thing. In fact, almost every successful NFT project spends a lot of time and effort on it.
In addition to Twitter and Discord, it’s even better to use Instagram, Reddit, and Medium. Also, register your project in NFTCalendar and DISBOARD
DISBOARD is the public Discord server listing community.
About Promoters
You’ll probably get lots of contacts from promoters on your Discord, Twitter, Instagram, and more. But most of them are scams, so don’t pay right away. If you have a promoter that looks attractive to you, be sure to check the promoter’s social media accounts or website to see who he/she is. They basically charge in dollars. The amount they charge isn’t cheap, but promoters with lots of followers may have some temporary effect on your project. Some promoters accept 50% prepaid and 50% postpaid. If you can afford it, it might be worth a try. I never ask them, though.
When Should the Promotion Activities Start?
You may be worried that if you promote your project before it starts, someone will copy your project (artworks). It is true that some projects have actually suffered such damage. I don’t have a clear answer to this question right now, but:
- Do not publish all the information about your project too early
- The information should be released little by little
- Creating artworks that no one can easily copy
I think these are important.
If anyone has a good idea, please share it!
About Giveaways
When hosting giveaways, you’ll probably use multiple social media platforms. You may want to grow your Discord server faster. But if joining the Discord server is included in the giveaway requirements, some people hate it. I recommend holding giveaways for each platform. On Twitter and Reddit, you should just add the words “Discord members-only giveaway is being held now! Please join us if you like!”.
If you want to easily pick a giveaway winner in your browser, I recommend Twitter Picker.
Precautions for Distributing Free NFTs
If you want to increase your Twitter followers and Discord members, you can actually get a lot of people by holding events such as giveaways and invite contests. However, distributing many free NFTs at once can be dangerous. Some people who want free NFTs, as soon as they get a free one, sell it at a very low price on marketplaces such as OpenSea. They don’t care about your project and are only thinking about replacing their own “free” NFTs with Ethereum. The lower the floor price of your NFTs, the lower the value of your NFTs (project). Try to think of ways to get people to “buy” your NFTs as much as possible.
Ethereum vs. Polygon
Even though Ethereum has high gas fees, NFT projects on the Ethereum network are still mainstream and popular. On the other hand, Polygon has very low gas fees and fast transaction processing, but NFT projects on the Polygon network are not very popular.
Why? There are several reasons, but the biggest one is that it’s a lot of work to get MATIC (on Polygon blockchain, use MATIC instead of ETH) ready to use. Simply put, you need to bridge your tokens to the Polygon chain. So people need to do this first before minting your NFTs on your website. It may not be a big deal for those who are familiar with crypto and blockchain, but it may be complicated for those who are not. I hope that the tedious work will be simplified in the near future.
If you are confident that your NFTs will be purchased even if they are expensive, or if the total supply of your NFTs is low, you may choose Ethereum. If you just want to save money, you should choose Polygon. Keep in mind that gas fees are incurred not only when minting, but also when performing some of your smart contract functions and when transferring your NFTs.
If I were to launch a new NFT project, I would probably choose Ethereum or Solana.
Conclusion
Some people may want to start an NFT project to make money, but don’t forget to enjoy your own project. Several months ago, I was playing with creating generative art by imitating the CryptoPunks. I found out that auto-generated artworks would be more interesting than I had imagined, and since then I’ve been completely absorbed in generative art.
This is one of the Skulls In Love artworks:
This character wears a cowboy hat, black slim sunglasses, and a kimono. If anyone looks like this, I can’t help laughing!
The Skulls In Love NFTs can be minted for a small amount of MATIC on the official website. Please give it a try to see what kind of unique characters will appear 💀💖
Thank you for reading to the end. I hope this article will be helpful to those who want to launch an NFT project in the future ✨
Protos
3 years ago
StableGains lost $42M in Anchor Protocol.
StableGains lost millions of dollars in customer funds in Anchor Protocol without telling its users. The Anchor Protocol offered depositors 19-20% APY before its parent ecosystem, Terra LUNA, lost tens of billions of dollars in market capitalization as LUNA fell below $0.01 and its stablecoin (UST) collapsed.
A Terra Research Forum member raised the alarm. StableGains changed its homepage and Terms and Conditions to reflect how it mitigates risk, a tacit admission that it should have done so from the start.
StableGains raised $600,000 in YCombinator's W22 batch. Moonfire, Broom Ventures, and Goodwater Capital invested $3 million more.
StableGains' 15% yield product attracted $42 million in deposits. StableGains kept most of its deposits in Anchor's UST pool earning 19-20% APY, kept one-quarter of the interest as a management fee, and then gave customers their promised 15% APY. It lost almost all customer funds when UST melted down. It changed withdrawal times, hurting customers.
- StableGains said de-pegging was unlikely. According to its website, 1 UST can be bought and sold for $1 of LUNA. LUNA became worthless, and Terra shut down its blockchain.
- It promised to diversify assets across several stablecoins to reduce the risk of one losing its $1 peg, but instead kept almost all of them in one basket.
- StableGains promised withdrawals in three business days, even if a stablecoin needed time to regain its peg. StableGains uses Coinbase for deposits and withdrawals, and customers receive the exact amount of USDC requested.
StableGains scrubs its website squeaky clean
StableGains later edited its website to say it only uses the "most trusted and tested stablecoins" and extended withdrawal times from three days to indefinite time "in extreme cases."
Previously, USDC, TerraUST (UST), and Dai were used (DAI). StableGains changed UST-related website content after the meltdown. It also removed most references to DAI.
Customers noticed a new clause in the Terms and Conditions denying StableGains liability for withdrawal losses. This new clause would have required customers to agree not to sue before withdrawing funds, avoiding a class-action lawsuit.
Customers must sign a waiver to receive a refund.
Erickson Kramer & Osborne law firm has asked StableGains to preserve all internal documents on customer accounts, marketing, and TerraUSD communications. The firm has not yet filed a lawsuit.
Thousands of StableGains customers lost an estimated $42 million.
Celsius Network customers also affected
CEL used Terra LUNA's Anchor Protocol. Celsius users lost money in the crypto market crash and UST meltdown. Many held CEL and LUNA as yielding deposits.
CEO Alex Mashinsky accused "unknown malefactors" of targeting Celsius Network without evidence. Celsius has not publicly investigated this claim as of this article's publication.
CEL fell before UST de-pegged. On June 2, 2021, it reached $8.01. May 19's close: $0.82.
When some Celsius Network users threatened to leave over token losses, Mashinsky replied, "Leave if you don't think I'm sincere and working harder than you, seven days a week."
Celsius Network withdrew $500 million from Anchor Protocol, but smaller holders had trouble.
Read original article here
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Yucel F. Sahan
3 years ago
How I Created the Day's Top Product on Product Hunt
In this article, I'll describe a weekend project I started to make something. It was Product Hunt's #1 of the Day, #2 Weekly, and #4 Monthly product.
How did I make Landing Page Checklist so simple? Building and launching took 3 weeks. I worked 3 hours a day max. Weekends were busy.
It's sort of a long story, so scroll to the bottom of the page to see what tools I utilized to create Landing Page Checklist :x
As a matter of fact, it all started with the startups-investments blog; Startup Bulletin, that I started writing in 2018. No, don’t worry, I won’t be going that far behind. The twitter account where I shared the blog posts of this newsletter was inactive for a looong time. I was holding this Twitter account since 2009, I couldn’t bear to destroy it. At the same time, I was thinking how to evaluate this account.
So I looked for a weekend assignment.
Weekend undertaking: Generate business names
Barash and I established a weekend effort to stay current. Building things helped us learn faster.
Simple. Startup Name Generator The utility generated random startup names. After market research for SEO purposes, we dubbed it Business Name Generator.
Backend developer Barash dislikes frontend work. He told me to write frontend code. Chakra UI and Tailwind CSS were recommended.
It was the first time I have heard about Tailwind CSS.
Before this project, I made mobile-web app designs in Sketch and shared them via Zeplin. I can read HTML-CSS or React code, but not write it. I didn't believe myself but followed Barash's advice.
My home page wasn't responsive when I started. Here it was:)
And then... Product Hunt had something I needed. Me-only! A website builder that gives you clean Tailwind CSS code and pre-made web components (like Elementor). Incredible.
I bought it right away because it was so easy to use. Best part: It's not just index.html. It includes all needed files. Like
postcss.config.js
README.md
package.json
among other things, tailwind.config.js
This is for non-techies.
Tailwind.build; which is Shuffle now, allows you to create and export projects for free (with limited features). You can try it by visiting their website.
After downloading the project, you can edit the text and graphics in Visual Studio (or another text editor). This HTML file can be hosted whenever.
Github is an easy way to host a landing page.
your project via Shuffle for export
your website's content, edit
Create a Gitlab, Github, or Bitbucket account.
to Github, upload your project folder.
Integrate Vercel with your Github account (or another platform below)
Allow them to guide you in steps.
Finally. If you push your code to Github using Github Desktop, you'll do it quickly and easily.
Speaking of; here are some hosting and serverless backend services for web applications and static websites for you host your landing pages for FREE!
I host landingpage.fyi on Vercel but all is fine. You can choose any platform below with peace in mind.
Vercel
Render
Netlify
After connecting your project/repo to Vercel, you don’t have to do anything on Vercel. Vercel updates your live website when you update Github Desktop. Wow!
Tails came out while I was using tailwind.build. Although it's prettier, tailwind.build is more mobile-friendly. I couldn't resist their lovely parts. Tails :)
Tails have several well-designed parts. Some components looked awful on mobile, but this bug helped me understand Tailwind CSS.
Unlike Shuffle, Tails does not include files when you export such as config.js, main.js, README.md. It just gives you the HTML code. Suffle.dev is a bit ahead in this regard and with mobile-friendly blocks if you ask me. Of course, I took advantage of both.
creativebusinessnames.co is inactive, but I'll leave a deployment link :)
Adam Wathan's YouTube videos and Tailwind's official literature helped me, but I couldn't have done it without Tails and Shuffle. These tools helped me make landing pages. I shouldn't have started over.
So began my Tailwind CSS adventure. I didn't build landingpage. I didn't plan it to be this long; sorry.
I learnt a lot while I was playing around with Shuffle and Tails Builders.
Long story short I built landingpage.fyi with the help of these tools;
Learning, building, and distribution
Shuffle (Started with a Shuffle Template)
Tails (Used components from here)
Sketch (to handle icons, logos, and .svg’s)
metatags.io (Auto Generator Meta Tags)
Vercel (Hosting)
Github Desktop (Pushing code to Github -super easy-)
Visual Studio Code (Edit my code)
Mailerlite (Capture Emails)
Jarvis / Conversion.ai (%90 of the text on website written by AI 😇 )
CookieHub (Consent Management)
That's all. A few things:
The Outcome
.fyi Domain: Why?
I'm often asked this.
I don't know, but I wanted to include the landing page term. Popular TLDs are gone. I saw my alternatives. brief and catchy.
CSS Tailwind Resources
I'll share project resources like Tails and Shuffle.
Beginner Tailwind (I lately enrolled in this course but haven’t completed it yet.)
Thanks for reading my blog's first post. Please share if you like it.
Jussi Luukkonen, MBA
3 years ago
Is Apple Secretly Building A Disruptive Tsunami?
A TECHNICAL THOUGHT
The IT giant is seeding the digital Great Renaissance.
Recently, technology has been dull.
We're still fascinated by processing speeds. Wearables are no longer an engineer's dream.
Apple has been quiet and avoided huge announcements. Slowness speaks something. Everything in the spaceship HQ seems to be turning slowly, unlike competitors around buzzwords.
Is this a sign of the impending storm?
Metas stock has fallen while Google milks dumb people. Microsoft steals money from corporations and annexes platforms like Linkedin.
Just surface bubbles?
Is Apple, one of the technology continents, pushing against all others to create a paradigm shift?
The fundamental human right to privacy
Apple's unusual remarks emphasize privacy. They incorporate it into their business models and judgments.
Apple believes privacy is a human right. There are no compromises.
This makes it hard for other participants to gain Apple's ecosystem's efficiencies.
Other players without hardware platforms lose.
Apple delivers new kidneys without rejection, unlike other software vendors. Nothing compromises your privacy.
Corporate citizenship will become more popular.
Apples have full coffers. They've started using that flow to better communities, which is great.
Apple's $2.5B home investment is one example. Google and Facebook are building or proposing to build workforce housing.
Apple's funding helps marginalized populations in more than 25 California counties, not just Apple employees.
Is this a trend, and does Apple keep giving back? Hope so.
I'm not cynical enough to suspect these investments have malicious motives.
The last frontier is the environment.
Climate change is a battle-to-win.
Long-term winners will be companies that protect the environment, turning climate change dystopia into sustainable growth.
Apple has been quietly changing its supply chain to be carbon-neutral by 2030.
“Apple is dedicated to protecting the planet we all share with solutions that are supporting the communities where we work.” Lisa Jackson, Apple’s vice president of environment.
Apple's $4.7 billion Green Bond investment will produce 1.2 gigawatts of green energy for the corporation and US communities. Apple invests $2.2 billion in Europe's green energy. In the Philippines, Thailand, Nigeria, Vietnam, Colombia, Israel, and South Africa, solar installations are helping communities obtain sustainable energy.
Apple is already carbon neutral today for its global corporate operations, and this new commitment means that by 2030, every Apple device sold will have net zero climate impact. -Apple.
Apple invests in green energy and forests to reduce its paper footprint in China and the US. Apple and the Conservation Fund are safeguarding 36,000 acres of US working forest, according to GreenBiz.
Apple's packaging paper is recycled or from sustainably managed forests.
What matters is the scale.
$1 billion is a rounding error for Apple.
These small investments originate from a tree with deep, spreading roots.
Apple's genes are anchored in building the finest products possible to improve consumers' lives.
I felt it when I switched to my iPhone while waiting for a train and had to pack my Macbook. iOS 16 dictation makes writing more enjoyable. Small change boosts productivity. Smooth transition from laptop to small screen and dictation.
Apples' tiny, well-planned steps have great growth potential for all consumers in everything they do.
There is clearly disruption, but it doesn't have to be violent
Digital channels, methods, and technologies have globalized human consciousness. One person's responsibility affects many.
Apple gives us tools to be privately connected. These technologies foster creativity, innovation, fulfillment, and safety.
Apple has invented a mountain of technologies, services, and channels to assist us adapt to the good future or combat evil forces who cynically aim to control us and ruin the environment and communities. Apple has quietly disrupted sectors for decades.
Google, Microsoft, and Meta, among others, should ride this wave. It's a tsunami, but it doesn't have to be devastating if we care, share, and cooperate with political decision-makers and community leaders worldwide.
A fresh Renaissance
Renaissance geniuses Michelangelo and Da Vinci. Different but seeing something no one else could yet see. Both were talented in many areas and could discover art in science and science in art.
These geniuses exemplified a period that changed humanity for the better. They created, used, and applied new, valuable things. It lives on.
Apple is a digital genius orchard. Wozniak and Jobs offered us fertile ground for the digital renaissance. We'll build on their legacy.
We may put our seeds there and see them bloom despite corporate greed and political ignorance.
I think the coming tsunami will illuminate our planet like the Renaissance.
Scott Hickmann
3 years ago Draft
This is a draft
My wallpape
