Evening must-read | USDT is facing severe selling pressure, are market makers withdrawing?

1. A new field of encryption: digital physical (digiphysical) ecological map

Crypto creates a whole new field of interaction design for consumer experience. So far, attempts to showcase physical goods on-chain have been spearheaded by crypto-native brands, mostly for authenticity and provenance of high-end fashion items. At the same time, the vast majority of on-chain actions, such as NFT minting, attestation, trading, and equipping, remain limited to the digital environment. click to read

2. Crypto analyst: Aave should freeze Curve founder's CRV tokens

On June 12, 2023, Gauntlett initiated a proposal in the Aave governance community, proposing to freeze the CRV tokens in the loan position in the wallet address of Curve Finance founder Michael Egorov. Gauntlet said it checked the risk profile of the wallet in question, which relies heavily on CRV tokens as collateral. The account is said to be related to Curve Finance founder Michael Egorov, and according to on-chain data, the account borrowed about $63 million in USDT with 288 million CRV tokens (approximately $180 million) as collateral. It should be noted that 288 million CRV tokens account for more than 30% of its total circulation. In order to prevent bad debts caused by the decline in the liquidity of these tokens on the exchange, it is recommended to freeze them. click to read

#3.2023 Encryption Trends: DePIN Decentralized Physical Infrastructure Network

In the last decade, several innovative companies led by Airbnb and Uber created new Internet markets. These pioneering platforms have brought a new business model to the world: the sharing economy based on decentralization.

This wave of innovation in business models is reshaping how individuals interact with services developed around physical infrastructure like cars and homes. Interestingly, however, the sharing economy has not been widely adopted in other areas of physical infrastructure, especially those at the heart of the digital economy, such as telecommunications and data warehouses. click to read

4. USDT is facing severe selling pressure, is it because market makers are withdrawing?

According to the data, in the past 24 hours, a total of 99 million USDT were sold in Curve's 3pool, with a net outflow of 64.4 million US dollars. In the past 3 days, a total of 205 million USDT were sold in 3pool, and the net outflow amounted to 130 million US dollars. At the same time, according to the latest official data from Curve, as of writing, the proportion of USDT in 3pool has reached 74%, a total of 301,753,409. DAI and USDC accounted for 12.91% and 12.74% respectively. click to read

5.Nansen: Detailed explanation of the changes in the CEX pattern, the trust crisis and the road to breaking the situation

FTX is a typical representative of CeFi, has been recognized by many famous people, and even sponsored stadiums. Behind the scenes, however, the exchange had been commingling client funds with its market maker, Alameda, resulting in a $4 billion loss on client deposits and an eventual bankruptcy filing. The FTX incident caused shock waves across the industry, and people's confidence in centralized exchanges plummeted. This report aims to examine the CEX landscape after FTX and the general trends we see. click to read

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