The Modular Thesis
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Sponsor: Mantle — Mass adoption of decentralized & token-governed technologies.
- 😡 Warren calls foul. As McHenry and Waters near finalizing stablecoin legislation, crypto hawk Warren sent a letter to her colleagues arguing that enshrining stables would pose a financial risk to the U.S.
- 💰 Monad’s big raise. Monad Labs, the team behind the new L1 chain aiming to compete with Ethereum and Solana, just announced a new $225M funding round led by Paradigm.
- ⏳️ Another SEC delay. The SEC announced a 45-day delay regarding its decision on whether or not to allow NYSE to offer options on spot Bitcoin ETFs.
📊 TONs of Utility? Toncoin (TON) has continued to layer on gains this month, establishing itself as one of crypto’s top 10 coins by market capitalization after surging 50% off its April lows to obliterate prior all-time highs! What catalysts are driving TON outperformance?
| Prices as of 6pm ET | 24hr | 7d |
|
Crypto $2.60T | ↘ 3.6% | ↗ 4.8% |
|
BTC $69,398 | ↘ 3.2% | ↗ 5.6% |
|
ETH $3,519 | ↘ 5.0% | ↗ 7.3% |
Modular Blockchains are already shaping up to be the biggest zero-to-one innovation in crypto since Ethereum.
With dozens of tokenless protocols preparing to launch on mainnet this year and the modular narrative seeping through all cracks of crypto media, I believe we are at the cusp of an expansion similar to what took place after the inception of smart contracts.
To start, let’s answer a seemingly simple question: What is a Modular Blockchain?👇
Mass adoption of token-governed technologies. With Mantle Network – an Ethereum rollup, Mantle Treasury, and a token holder governed roadmap for products and initiatives.
Frax is a decentralized central bank on Ethereum. Today, Frax is entering its 3rd dimension of development… building out Fraxtal, a Frax-dedicated L2, fulfilling the vision that every successful app will eventually evolve into a chain.
It's been two years since we had Sam on last. We figured this launch would be a good time to re-open the Frax discussion, as they are once again pioneering their own frontier of app-specific L3s.
Get the full rundown 👇
Thousands of Bankless Citizens scored an average of $3,500 worth of tokens after Ether.fi's airdrop. Did you miss out again?
Ether.fi was in the Bankless Airdrop Hunter, and you could have gotten into the latest drop by following our quests! There are nearly 80 other crypto protocols in Airdrop Hunter waiting for you.