Research Summary
This report covers a range of topics in the cryptocurrency and blockchain space. It discusses Rollbit’s on-chain buyback and burn scheme, Celsius’s potential restart under the name “NewCo”, and the piloting of Optimism’s fault proof system. It also mentions StarkWare’s delay of the first tranche of $STRK token unlocks, performance of various tokens, and the integration of Chainlink CCIP by Thena.
Key Takeaways
Rollbit’s On-Chain Buyback and Burn
- Rollbit’s Buyback: Rollbit has moved its buyback and burn scheme fully on-chain. In a recent transaction, rollbot.eth purchased 255,252 RLB tokens before burning 229,727 RLB.
- Impact on RLB Value: This move could potentially impact the value of RLB tokens, as reducing the supply of tokens can increase their price.
- Transparency and Trust: By moving the scheme on-chain, Rollbit increases transparency and trust with its users.
Celsius’s Potential Restart as “NewCo”
- NewCo’s Formation: Celsius could potentially restart under the name “NewCo”, which plans to distribute $2.3 billion of $BTC and $ETH to Celsius customers and NewCo Stock.
- Future Plans: NewCo plans to be listed on the NASDAQ and will be seeded with up to $450 million in Crypto. Fahrenheit LLC has committed to inject up to $50 million in exchange for an equity stake.
- Support from Creditors: A reported 95% of creditors have shown support for the plan, which aims to cover slightly under 50% of user assets lost in Celsius’ bankruptcy.
Optimism’s Fault Proof System
- Optimism’s Innovation: Optimism is piloting its fault proof system on the Optimism Goerli Testnet, allowing developers to implement or build any fraud proof system they would like.
- Impact on Decentralization: This innovation promotes further diversity within rollups and decentralization across the Optimism Superchain.
- Use Cases: The fault proof system could enable the use of zero knowledge proofs on an optimistic rollup, thanks to the creation of Cannon, Optimismโs Fraud- Proof Virtual Machine.
StarkWare’s Token Unlock Delay
- Delay in Token Unlocks: StarkWare has delayed the first tranche of $STRK token unlocks from November 2023 to April 2024.
- Token Holders: The tokens in the first unlock belong to employees at StarkWare, core contributors of the chain, and early supporters of the Starkware ecosystem.
- Impact on Market: This delay could potentially impact the market dynamics of $STRK tokens, as the supply of tokens in the market will be less than initially expected.
Token Performance and Integration of Chainlink CCIP by Thena
- Token Performance: The report highlights the performance of various tokens, with Canto showing a significant increase of 25.02% over the past day and 118.96% over the past week.
- Chainlink Integration: Thena is integrating Chainlink CCIP on BNB Chain and Polygon mainnets to enable cross-chain transfers of THENAโs native token, THE.
- Impact on Cross-Chain Transfers: This integration could potentially enhance the efficiency and security of cross-chain transfers of THE tokens.
Actionable Insights
- Monitor Rollbit’s On-Chain Activities: Keep an eye on Rollbit’s on-chain buyback and burn activities, as they could impact the value of RLB tokens.
- Investigate the Potential of NewCo: Consider the potential implications of Celsius’s restart as “NewCo”, especially its plans for NASDAQ listing and crypto distribution.
- Explore Optimism’s Fault Proof System: Developers and blockchain enthusiasts should explore the potential of Optimism’s fault proof system for building diverse and decentralized rollups.
- Consider StarkWare’s Token Unlock Delay: Investors should consider the potential impact of StarkWare’s delay in $STRK token unlocks on the token’s market dynamics.
- Track Token Performance and Chainlink Integration: Monitor the performance of various tokens and the impact of Chainlink CCIP integration by Thena on cross-chain transfers.
