Hi, my name is @daws_boss, and I’m a $MEME (@Memecoin) farmer at @Memeland.
On my honor, I promise that I will do my best to do my duty to my own bag, and to farm #MEMEPOINTS at all times.
It ain’t much, but it’s honest work. 🧑🌾
It's absolutely magic when things click and pixels align. This has been months in the making since I first flew out to LA, excited for this next chapter of @y00tsNFT.
I would be careful trading BRC20’s at the moment.
There’s currently a risk of double spending due to a recent issue in ord.
Currently different marketplaces are using different versions of ord which are indexing different inscription numbers.
Until @MEonBTC@okx and @unisat_wallet are all using the same index it’s risky trading BRC20
https://t.co/mO5d4OMBrg
Stablecoin legislation has been drafted in Congress
I read the bill.
TL;DR decentralized stables become illegal in the US (DAI, LUSD, RAI, etc. become illegal🚨) while centralized stables, defi, Ethereum, and ETH win big.
High-level summary⬇️
- decentralized stables become illegal in the US. DAI, LUSD, RAI etc.
- foreign stables become illegal in the US. National boundaries for stables
- imo ETH sees significant uptake as a payment method that's both legal and decentralized
- licensed stables, eg. USDC, become huge winners and permitted to access Fed accounts directly
Full summary⬇️
1. The Act makes it illegal to offer unlicensed stablecoins in the US, with a maximum fine of $1M and of 5 years in prison. The Act is specific that this applies globally. Their definition of "stablecoin" is very broad and includes DAI, LUSD, floating stables like RAI, and even includes exotic quasi-stables as long as they are designed to be redeemable for a relatively fixed amount of "monetary value", including all fiat currencies.
For example, this act makes it illegal to build DAI in America, illegal to send DAI to an American business or person living in the US, and illegal for foreign-licensed or unlicensed stablecoins to be offered to Americans in any way.
Essentially, this bill draws national borders around stables by making decentralized stables and foreign-licensed stables illegal in America.
imo the illegalization of unlicensed and foreign stables seems likely to greatly benefit the uptake of non-stable payment tokens, especially ETH.
2. The Act makes the stablecoin licensing process structured but ultimately discretionary. They decide who gets to issue licensed stables.
3. Allows stables to be collateralized by insured deposits in some cases. Could perhaps cause deposit tokens to fall under this regulation as "stablecoins backed by bank deposits".
4. Gives stable operators direct access to the Federal Reserve. Eg. Circle could have accounts at the Fed.
5. Launches an official study on a CBDC. Includes a surprisingly thoughtful list of criteria to study, including the potential impact of a CBDC on the competitive landscape of stablecoins.
6. The Act defines "payment system" broadly in a way that, imo, would include many wallets, bridges, defi, and crypto payment apps. But, the Act does not regulate these payment systems. They aren't banning or licensing defi in this Act.
I'm not a lawyer, and this was my best-effort interpretation of the Act.
Full Act:
https://t.co/vR65M3XayW
⚡️ Introducing ln-charts ⚡️
Step 1: Run bos accounting commands on your Lightning node
Step 2: Paste the output into ln-charts
ln-charts will parse any report into daily, weekly and monthly charts.
Private + open source + free 👇
https://t.co/KyeS90cown
https://t.co/1ZvrKFu9Lt
📸 Daily Loud: Championing Friend Tech (FT)🔑
If you haven't heard of @DailyLoud, it's time to catch up with one of the most bullish entries into the FT ecosystem.
2.5M+ followers on X and the title of #1 Source For Hip-Hop/Viral News, Daily Loud's influence is undeniable.
I recently had the opportunity to ask him some questions thanks to @The_Daily_Alpha the #1 source for all things WEB3, and his insights were enlightening:
"What aspect of Friend Tech caught your attention?"
Daily Loud: "What caught my attention was the fact that I could have a real conversation with people I could never connect with. Have a normal conversation, hear their thoughts, learn what they want, and what they want to talk about. It's not something you can have doing what I do on a full-time basis."
"How do you envision it impacting your digital journey?"
Daily Loud: "As far as the vision, I want to build a community. I want to build a strong group of people trying to have a good time, make money, and that have similar interests in the entertainment industry, want to see what's hot, what's dropping, and what the gossip is. I want to build that community with longevity in mind."
Friend Tech, aligns perfectly with Daily Loud's goals to curate a community. 📸
With a colossal Twitter following, managing messages and engaging with followers can be an overwhelming task. 🙈
Friend Tech offers the ideal platform for him to provide utility to his holders and connect with his fans.
The Daily Loud's network is a powerful asset. He's already in discussions with various artists to onboard them onto Friend Tech.
He's also highlighted the need for a smoother onboarding process and expressed concerns about the "beta" state of the Friend Tech app, which could deter potential users.
The Daily Loud is at the forefront of championing the platform and making it accessible to the masses.
He embodies what Friend Tech should be: exclusive access and the mass adoption of a curated community. ✅
But it's not all talk and promotion. Daily Loud is already delivering value to his holders. 🎬
He's ordered them breakfast, hosted giveaways for Miami Heat tickets, and teased VIP access to Miami's hottest parties for his key holders. 🍳
This is a fascinating example of how mainstream accounts are entering the world of Social Fi.
They're not just promoting; they're curating communities around their fans and offering real value.
Friend Tech is evolving, and with trailblazers like The Daily Loud leading the way, things are only going to get more exciting. 📈
Make sure you follow @DailyLoud to stay updated on all things entertainment industry, and follow @The_Daily_Alpha for the latest in WEB3. 🧠
Feel free to check out the linked spaces to experience it firsthand. I've also left some Friend Tech codes for those interested in trying it out; NFA! 👇