BRC-20 First Steps (Fast & Easy)

We've created a easy step by step instruction for you to get an overview and understand BRC-20 better.
Keep in mind that this is a new product and therefore risky!

There are different wallet providers and ways of interactions. We have mentioned two of them for you.

You should also keep in mind that BRC-20 is not like ERC-20.

Always double-check everything and always be careful with interactions.

First Steps: https://twitter.com/cryptoBLTS/status/1654853438176481280?s=20

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In this week's issue:
- Bitcoin and what to expect
- 6 Altcoin Updates
- Economic conditions
- Regulation
- Protocol Updates
- Key Industry News

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This week's sources:
- Reflexivity Research
- BlockworksResearch
- Bitcoin Magazine
- ECOINOMETRICS
- Bitcoin DATA
- Rekt Capital
- The Bitcoin Layer
- Bankless

MakerDAO introduces Spark Protocol

• Wholesale DAI credit line access
• Initial MakerDAO ownership, later sub-DAO
• Features Spark Lend & front-end interface
• Customized Aave codebase for DAI
• Governance-set interest rate
• $5M initial cap, $200M expected growth
• ETH & stETH as first collateral assets
• Decentralized collateral focus
• Tokenized Savings DAI & DSR access
• Regulatory-compliant interface

-> Revenue benefits MKR holders
-> Aims to expand DAI & Maker ecosystem

Digital Asset Fund Flows - weekly

• Digital asset investment products experienced 3rd consecutive week of outflows, totaling $54M.
• Broader industry volumes at 50% of the year's start, investment product volumes up by 16% YTD.
• Majority of outflows from Germany $27M and Canada $20M.
• Bitcoin faced $32M of outflows, with the US showing positive sentiment with $18M inflows and a record $23M outflows from short-bitcoin.
• Altcoins saw low investor activity: Ethereum had $2.3M outflows; Solana had $3.4M inflows, the second-largest in 12 months.
• Blockchain equities experienced largest weekly outflows of 2023 at $7.3M, likely due to profit-taking after positive price performance.

Stride - Interchain DeFi - LST

• Appchain providing liquidity for staked tokens (Cosmos IBC ecosystem)
• Users can liquid stake their tokens on any Cosmos chain
-> Enables users to earn staking and DeFi yields (multiple chains)
• 100% of its protocol revenue to STRD stakers
• Plans to support all IBCv3-compatible tokens as "st"-Tokens.

Key news/ note:
• Stride plans to use Axelar's General Message Passing (GMP) for cross-chain contract calls
• Relies on IBC/ICA for liquid staking on Cosmos chains, enabling rapid scalability
• With GMP, Stride could onboard non-Cosmos chains (Could become a competitor for Lido)

-> Axelar's GMP can serve as an IBC alternative for non-Cosmos chains, expanding Stride's possibilities.

Market - Update

• U.S. inflation is moderating, with CPI coming in at 4.9% on a year-over-year basis
• The deceleration in inflation increases the likelihood of a pause in the Fed's tightening cycle
• Shelter costs showed a smaller increase, while prices for airfares, hotels, and new cars fell
• Real wages have declined for 25 consecutive months, reducing purchasing power
• Short-term Treasury yields have turned positive compared to inflation, providing relief to yield-starved investors
• The unemployment rate may start rising in the coming months, cooling inflationary pressures but potentially dampening economic growth

____

Money Flow - Fundraising Market Crypto

- Fundraising deals April: $1.34B
- No overall trend shift in the fundraising market
- But an upward trend in the DeFi sector
- Approximately $250M (x2.5 to March)

-> Some projects that have raised funds indicate upcoming Defi trends and new narratives.
We analyze them and present you the best picks. Stay tuned!
There is still enough time to position yourself for the various sectors and narratives.

LTC-20 (inspired by Brc-20)

• A standard for creating fungible tokens (on Litecoin)
• No usecase
• As with BRC-20 it is just an experiment
• LTC-20 tokens can be created, minted, and transferred
• Around 850 LTC-20 tokens have been created, but most are not yet mintable

As already written in the TL;DR, copies of Brc-20 will come on other chains and here we are now.

Note: The value is created by the community. Bitcoin Ordinals and Brc-20 are backed by a much stronger community than Litecoin will have. The risk here is relatively high that it will not become established in the long term.
Short-term profits could arise, considering the fact that you are currently only paying the network fees. Be careful anyway!

Nocturne

• Protocol for private, composable accounts on Ethereum
• Supports anonymous token transactions and confidential payments
• Users can prove asset ownership and transaction history without revealing their identity
• First product is a private asset vault for secure storage, yield and withdraw to burner wallets for trading
• It can also be used as a backend for private payments, like shielded payroll
• Nocturne's SDK can be integrated into wallets for enhanced asset privacy

Narratives: account abstraction, zk and privacy

Currently there is no way to invest, but the testnet is coming soon, with mainnet in the following months.
So the opportunity may come soon.

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Market - This Week

Monday
• US - Empire State Manf Index (MAY)
• China - Industrial Production (APR)

Tuesday
• US - Retail Sales (APR)
• Canada - CPI Inflation (APR)
• UK - Jobs Report (APR)

Wednesday
• US - Building Permits (APR)
• US - Housing Starts (APR)
• Europe - CPI Inflation (APR)

Thursday
• US - Philly Fed Manf Index (MAY)
• US - Existing Home Sales (APR)


______



Protocol TL;DR: Cowswap

• Uses CoW protocol for gasless P2P token trades
• Coincidence of Wants (CoW) enables direct asset exchanges without AMMs
• Trades are settled via batch auctions, reducing MEV extraction and DEX AMM dependence
• Batch auctions mitigate slippage and enhance execution
• Solvers compete for best execution price, adhering to DAO rules to avoid penalties
• Rewards for solvers are split based on value provided
• Cowswap's growth in monthly volumes attracts large traders seeking better execution

Digital Asset Fund Flows - weekly

• 4th consecutive week of outflows
• Outflows of $54M, bringing the total outflow to $200M. Bitcoin accounted for 80% of the outflows
• Europe saw significant outflows, while the US had most of its outflows from investors closing short positions
• Total assets under management decreased by 13% (since their mid-April peak) due to price declines
• Inflows were observed in eight altcoins, indicating growing investor interest in alts
• Cardano, Tron, and Sandbox had notable inflows (in realtion to other alts), while BNB experienced outflows

Bitcoin's halving & Fed's next easing cycle

• Bitcoin's fourth halving expected in roughly 345 days
• Around the same time (until EOY or beginning of next year), the Fed is expected to shift from a tightening to an easing policy due to economic downturns
• May boost Bitcoin prices, as one money supply (USD) expands while another (Bitcoin) becomes more scarce
• Previous Bitcoin halvings led to significant price increases, and this one might coincide with the Fed's easing
• Bitcoin's correlation with the S&P 500 is decreasing
• Indicating it may outperform equities when risk-taking returns to the market

The upcoming Bitcoin halving, coupled with potential Fed easing, may trigger a significant price rise

xNFTs (Solana ecosystem)

• Executable NFTs (xNFTs), combining NFTs and applications in one tokenized asset
• Can be executed within a Web3 wallet called “Backpack,” eliminating the need for external applications
• Are still experimental and limited to Solana and the Backpack wallet
• Function using executable programming scripts, with assets and code combined into one asset
• Backpack is an xNFT operating system for deploying, discovering, and executing xNFT apps
• React xNFT is a framework for building executable NFTs
• Coral, the team behind xNFTs and Backpack, has developed Anchor, a popular open-source framework for Solana app development in Rust

Stablecoins - Update

• Tether plans to invest up to 15% of its stablecoin profits into Bitcoin
• Regulation on stablecoins is under progress, with likely differentiation between Fed-regulated "payment stablecoins" and others
• USDC is likely to qualify as a payment stablecoin, while USDT will not due to its diverse backing assets
• Uncertainty over stablecoin issuers getting access to Fed Master Accounts
• If DeFi becomes mainstream, safe collateral may become insufficient for all stablecoins
• Stablecoin innovations continue, exploring alternatives to government-backed options
• DeFi protocols are also expanding their stablecoin offerings and developing their own solutions

Level Finance

Decentralized, non-custodial perpetual exchange

read more: https://twitter.com/cryptoBLTS/status/1659659786038681604?s=20

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• The Halving and Catalyst to Drive the Bitcoin Price Up
• Bitcoin's Next Move
• Economic Overview
• Altcoin and Protocol Updates
• 7 Altcoin TA
• Key Industry News from the past week

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Debt Ceiling and Implications for Liquidity and Market

• The U.S. has hit its debt ceiling in 2023, leading to a funds crisis as its Treasury General Account (TGA) is at a low of $57 billion.

• Once the debt ceiling is resolved, the Treasury aims to boost the TGA to $550 billion by issuing new debt, either as bills (short term), coupons (medium term ), or bonds (long term).

• Depending on the type of debt issued, different market actors would be the primary buyers: Money Market Funds for short-term, banks for medium-term (unlikely, unless the Fed relaxes the Supplementary Liquidity Ratio), and possibly the Federal Reserve for long-term debt.

• The decision of who becomes the primary buyer will significantly impact market liquidity and could lead to major market effects.

(Source: ReflexivityResearch)

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