The Protocol: Polymarket Bets Pay Off as Memecoin Memorializes 'Dwebate'

[Music] [Music] the protocol poly Market bets pay off as mecoin memorializes duate crypto wasn't even mentioned during Tuesday's US presidential debate between former president Donald Trump and vice president kamla Harris but there was a parallel universe of often ridiculous trading around the face off taking place place on blockchainbased prediction markets and mean coin launch pads in this week's issue of the protocol we've got the crypto angle on Tuesday's presidential debate just as weird and ridiculous as you might imagine also ethereum foundations shrinking wallet friend. Tech and Low Places coin bases based relies on special formula to Vault toward top of ethereum layer 2 rankings spoiler alert it ain't the tech nearly $50 million of blockchain project fundraisings tether flush with cash expands Global Empire top picks from the past week's protocol Village column live Pier polygon Labs Tron tether snapshot Labs darket fractal Bitcoin Network news polym Market betters had an extra screen to keep an eye on during Tuesday's debate Sam Reynolds great dbate it was entertaining enough to tune into Tuesday night's US presidential debate between um former president Donald Trump and vice president Kamala Harris but it was nearly as ricking just monitoring the action on prediction betting site poly market and all the mean coins popping up on the token Launchpad pump fun over the course of the debate the poly Market odds clearly drifted toward the conclusion that Harris was winning the Tet AET Trump just getting destroyed the crypto-friendly money manager and former Trump White House communications director Anthony scaramucci wrote on X roughly 40 minutes into the face off attaching a poly Market screenshot but there were also plenty of side bets at stake and scads of meeme coins launched including duate deala trumpus pepid dential debates in World War I which sprung up to saiz the entire spectacle or to document some of the more memorable zingers many of the mean coin names were not remotely safe for a PG rated blockchain Tech newsletter some poly Market Wagers paid off handsomely when Trump claimed falsely according to the Wall Street Journal that migrants are eating the dogs in Springfield Ohio that also sparked a few New Meme coins including eating dogs and cats anyone coming to the debate hungry for a crypto policy discussion went home hungry for what it's worth there wasn't a single mention of Bitcoin or digital assets that didn't stop crypto twitterati from sounding off at least 12 mean coins named Run Spot Run sprung up on pump. fun after a comment during Tuesday debate by former president Donald Trump pump fun also the ethereum foundation the main nonprofit organization supporting the ethereum blockchain is set to release an updated financial report soon according to a top official who also revealed that the organization's main ethereum wallet currently holds about $650 million Justin Drake a prominent researcher at the ethereum foundation EF wrote during a typed ask me anything on an ethereum subreddit under the handle Bob the spongy that the EF spends roughly $100 million per year and currently has roughly a 10-year Runway depending on the price of ether F the blockchain's native token the last time the EF released insights on its Financial Holdings was in March 2022 at which point the EF treasury reported a balance of about $1.6 billion that included $1.3 billion of eth and about $1 million of other crypto uh friend. Tech the web 3 social network that turned heads as a crypto sensation when it launched last year on coinbase's ethereum layer 2 Network base shared on sept that it was transferring the ownership of its smart contracts to an ethereum null address permanently removing developers control over them coinbase layer 2 success shows power of marketing over cuttingedge Tech a recent chart from onchain data provider token terminal shows the network accelerating in recent months while other layer 2 seconds were experiencing a drop off token terminal among the rapidly growing ranks of layer 2 blockchains built a top ethereum the US crypto exchange coinbase's own version base hardly stands out as a technological Pioneer the entire project was built and launched last year using Code borrowed from another team optimism with its op stack framework for easily spinning up new layer 2 networks that's partly why it's so remarkable that Bas has shot to the number two spot on the key industry leaderboard l2b a with an 18% market share of 74 active layer 2 networks top ranked arbitrum arbitrum one dominates with a 40% share but base has shot past older competing projects from teams with hardfought reputations for cuttingedge development including Stark net polygon even optimism itself but it turns out that the race for blockchain Supremacy just as in broader industry is Reliant to a large extent on marketing Savvy and an ample wores to spend on attracting new customer not just whoever has the best tech and coinbase has helped to fuel base's growth through its own advertising campaigns and promotional events including the recently concluded onchain summer the question now is whether the activity is sustainable are the accounts Bonafide users with onchain needs are just a flurry of Tire kicking beta testers curious to try out the various protocols built a top base are they opportunistic Dean crypto Traders taking advantage of one-time promotions and request to collect extra riches or racking up usage in hopes of eventually collecting tokens rewards click here for the full story by Ian Allison and Bradley Keon Money Center fundraisings viu Norby CEO and co-founder drip drip drip a Creator engagement platform on salana has raised million in seed funding led by nfx with participation from progress founded by X Tik Tok exact and coinbase Ventures the funding will support mobile app development Creator tools and user growth according to the team an upcoming Vape to earn project wants to use token incentives and blockchain enabled Vapes to make nicotine addictions additions go up and smoke called Puff paaw the project intends to sell specialty Vapes that record their user smoking habits on the blockchain it will reward them in their tokens for gradually reducing their nicotine intake the quit smoking project raised $6 million in seed funding led by Lemonis cap Ventures others please see details in protocol Village column pin AI $10 million Nitro lab $8 million Fountain 3.5 million block sense $4 million amalgam $2.5 million cork protocol $2.15 million d. gold $ 2.22 million deals and grants Sonic svm a project to scale the salana blockchain to gaming quality speed and throughput plans to sell as much as $ 122.8 Million worth of validator nodes in its hyper grid a decentralized framework designed to support new application specific networks the sale scheduled for the week of sep 16 will be the first in the salana blockchain ecosystem and will include 50,000 Hyperfuse nodes in 20 pricing tiers according to the team proceeds will go into the Project's treasury for general purposes including supporting the development team and grants CEO and co-founder Chris Zu said in an interview blockchain data provider nanson said it bought staking platform stake with this as CEO Alex spanovic looks to expand Beyond data provision into offering Investment Services for institutions and Retail Traders wow the purchase price was not disclosed a spokesperson for the company said it was a seven figure sum blockstream mining raises fresh round of note that offers exposure to bit coin hash rate data and tokens Athena's yield machine sees $1 billion outflows as crypto Market cools but there's good news tether's $100 million investment in latam agriculture firm may be a tokenization play crypto fund outflows were most since March last week as Bitcoin ETF sped nears faked X takeover marketing Ploy grabs attention derision dumb as F cray Regulatory and policy Singapore investigating seven people for providing world coin Services India and Nigeria lead the world in crypto adoption again but Indonesia is fastest growing chainalysis Unis swap lab settles cftc charges over illegal margin products protocol Village top picks of the past week from our protocol Village column highlighting key blockchain Tech upgrades and News live Pier a decentralized video streaming project powered a live stream for The Burning Man webcast team at the recently included event in the Nevada desert according to the team the project offered a more reliable and costeffective solution than traditional Cloud providers polygon Labs a major developer of ethereum layer 2 networks shared Tuesday it is unveiling a new type of computer chip that's optimized for zero knowledge cryptography processing built by Hardware maker fabric specifically for polygon's interoperability solution Ager the team also shared that polygon Labs will acquire $5 million worth of vpu based server systems as part of today's announcement in order to accelerate ZK proof generation projects on the AG layer Tron the blockchain founded by Justin sun is working with trm labs and usdt issuer tether in a task force created to fight Financial crime the taskforce the T3 Financial crime unit T3 FCU will combat elicit activi involving usdt the largest stable coin on Tron Sun said in a press release by collaborating with trm labs and tether Tron is helping to ensure that blockchain technology is used to make our world a better place and sends a clear message that elicit activity is not welcome in our industry our snapshot Labs developer of an offchain voting platform used by 96% of decentralized autonomous organizations Dows including those overseeing leading defi projects Leo and AET is adding a blockchain based option built on the ethereum layer 2 Network stet fractal Bitcoin describing itself as the only Bitcoin native scaling solution that uses the Bitcoin core code itself to recursively scale unlimited layers on top launched its mayet on Monday according to the team using recursive virtualization of Bitcoin core software fractal scales Bitcoins capacity infinitely while maintaining complete Network consensus it's supports Bitcoin native protocols like brc2 and introduces the opcat op code for onchain Innovation calendar sept 12 to3 Global blockchain Congress southeast Asia Edition Singapore sept 18 to19 token 2049 Singapore sept 19 to 21 salana breakpoint Singapore sept 25 to 26 European blockchain convention Barcelona sept 30 to October with two Masari main at New York October 1 to2 CB Summit Zug Switzerland October 9 to 11 permissionless Salt Lake City October 9 to10 Bitcoin Amsterdam October 10 to 12 Bitcoin mint eash Berlin October 15 to1 17 Meridian London October 18 to19 Pacific Bitcoin Festival Los Angeles October 21 to 22 cosmoverse Dubai October 23 to 24 cardano Summit Dubai October 25 to 26 Plan B Forum Mugo October 30-31 chain link smarton Hong Kong November 9 to 11 near protocols redacted Bangkok November 10 OPN Bitcoin scaling Conference Boston November 11 to4 web Summit Lisbon November 12 to 14 Devcon 7 Bangkok November 15 to6 adopting Bitcoin San Salvador El Salvador November 20 to 21 North American blockchain Summit Dallas December 5 to6 emergence Prague January 21 to2 wagi conference Miami February 19th 2025 consensus Kong Kong May 14 to6 consensus Toronto May 27 to 29 Bitcoin 2025 Las Vegas e e e e [Music]