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Daily Brief

What Makes Sui Special?

gm Bankless Nation, Solana has undoubtedly been the Alt-L1 story of this cycle, but there are plenty of chains trying to keep up. Let's take a look at Sui.
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Aug 14, 2024 β€’ 3 min read
What Makes Sui Special?
Published on Aug 14, 2024
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Sponsor: Mantle β€” Mass adoption of decentralized & token-governed technologies.

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NEED TO KNOW
Tap-to-Pay Crypto Payments?
  1. πŸ“± New Apple Feature Will Enable Tap-to-Pay Crypto Payments. You could soon be paying with USDC using your iPhone's NFC features.
  2. 🎰 EigenLayer Will Support Turning Any ERC-20 Token into Restakable Asset. The new Permissionless Token Support feature is a direct response to competitor Symbiotic's feature set.
  3. πŸ’Ž TON Ventures Launches $40M Fund. The firm created by former TON Foundation senior builders aims to build out TON's footprint.
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MARKET VIBES
Inflation Down, BTC Down

πŸ“Έ Daily Market Snapshot: Inflation is slowing and investors are showing signs of relief. Traders were banking on good news, so TradFi indexes only budged up slightly, but BTC traders sold the news, with price diving 3% almost immediately after the new data's release. Bitcoin is now trading below $59K.

Prices as of 6pm ET 24hr 7d
Crypto $2.09T β†˜4.5% β†—7.2%
BTC $58,877 β†˜2.9% β†—6.6%
ETH $2,665 β†˜1.9% β†—13.5%
AEVO $0.36 β†˜4.9% β†—11.6%

πŸ”’
New Token Rating: The native token of Aevo Exchange has tumbled by over 50% since rebranding from Ribbon Finance. Is AEVO finally a buy?
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ANALYSIS
What Makes Sui Special?
Bankless Author: David C.

Few things stir Crypto up quite as much as alt-L1s.

Though these new chains always promise to be bigger, faster, and better than Ethereum, few last long enough to deliver on their big promises. This cycle has welcomed a new cohort of competitors, and VC-backed Sui has garnered plenty of attention.

Today, we're taking a look at what, if anything, it brings to the tableπŸ‘‡


FRIEND & SPONSOR: MANTLE

Mantle kickstarts Season 1 of Methamorphosis. Building on the success of their Liquid Staking Token, mETH, Mantle LSP announces plans for a new Liquid Restaking Token, cmETH, along with a governance token, COOK. With Methamorphosis, participants can now farm Powder for future COOK tokens and position themselves early for upcoming cmETH release.

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EARLY ACCESS
The Future Ethereum Roadmap

In this special Early Access episode, we're joined by Paradigm's Georgios Konstantopoulos and Charlie Noyes, along with Max Resnick from Special Mechanisms Group, to discuss a possible change in direction for one part of the Ethereum Roadmap.

This is a deeply technical episode that covers the history of MEV and new innovations that plan to change it – all from the comfort of David's apartment.

Hear all of the analysis! πŸ‘‡

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GO BANKLESS
Don't Miss Another Airdrop!

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 100 other crypto protocols in Airdrop Hunter waiting for you.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

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