🚨 Major upgrade just dropped for V1 CryptoPunks
You can now buy and sell unwrapped V1 punks directly on https://t.co/PoDNJq8SFo.
One marketplace. Wrapped or unwrapped. Everything in one place.
Here's what's new 🧵👇
Last week @jalilwahdat shipped a fix to one of the most famous, storied, and misunderstood bugs in web3/eth/nft history - the ability to safely trade unwrapped @v1punks. For 9 years this has not been possible, and now it is. It's a remarkable achievement.
As a sign of gratitude a number of people are pooling eth to purchase the V1 token for Jalil's Cryptopunk from the original claimer to gift to him and reunite the V1🤝V2 pair. Seemed like that would be a nice gesture.
To facilitate this a I whipped up a little contract that accepts eth (in this case to 0xD7C988727bc47fDCC550F15062286B124f37033D ) up until the goal it met, and refunds anything above that. If the goal isn't met by a set deadline (in this case, end of the month) everyone gets their eth back. Launched this yesterday and it just passed 50% funded.
We could have just had everyone send eth to someone, but thought a trustless contract solution would be more in the spirit of the event, and also now this is available for anyone to use for anything else, with no fees.
If you like to throw in something send eth from a wallet you control (not an exchage) to the address above. To see progress or make your own pool, check out https://t.co/5RSZhjiS44 or if you want to fork it and do it differently, code is open https://t.co/OBF0NZKTyW
V1 Punks are up 70% because of the news that we can now interact with original contract to buy/sell V1 Punks
So, is V1 contract now fixed?
It’s not
But @jalilwahdat & @yougogirl_ deployed a workaround by having PunksMarket act as smart intermediary for V1 Punks transactions
Here’s what happens:
1️⃣ The seller lists the Punk specifically to the PunksMarket contract (using offerPunkForSaleToAddress with the market’s address)
2️⃣ The buyer triggers settlement
3️⃣ PunksMarket temporarily buys the Punk from the V1 contract (using the bugged logic, so ETH initially routes wrong)
4️⃣ It immediately calls withdraw() on the V1 contract to pull the misrouted ETH back
5️⃣ It transfers the Punk to the real buyer
6️⃣ It pays the seller the correct amount from its own balance
This way they are able to go around the original V1 contract bug: When a buyer purchases a Punk via the built-in marketplace functions, the ETH gets credited to the buyer (who can then withdraw it), not the seller
Now, no need to wrap your V1 Punks to buy & sell them
But still, PunksMarket is still needed to be an intermediary to interact with the main V1 contract
This is a bigger deal than people realize. It’s not just the first sale of a v1 CryptoPunk on the original contract in years, it’s the first sale on the original contract where the eth went to the seller ever.
📢 NEW V1 CRYPTOPUNKS MARKETPLACE UPDATE
We’ve added the missing V1/V2 context—now available directly on every punk profile:
✅ V2 airdrop transaction in the ledger (with explanation)
✅ V1 ↔ V2 paired wallet status
✅ One-click link to the corresponding V2 punk
There has never been a bigger gap.
Right now, there are two camps on this app.
1. 4 year cycle, 75% correction, Bottom October Q4 1064 days
2. Macro and business cycle, currently a mid cycle top with expansion into new highs this year
What makes it even more interesting is that up until this very moment, the 4 year cycle theory has held weight.
And to add to that even more, this is the first time these cycles have diverged.
But what is more important to a liquidity asset like Bitcoin?
A time-based theory that leans on nothing but that... just time?
Or a macro framework that is based on the actual expansion and contraction of the US economy?
And its important to note there have only actually been 2 cycles that you can class as a 4 year cycle also.
2013 - 2017
2017 - 2021
This current cycle is yet to be decided.
We have reached the stage in the market where people are actually laughing at the ISM... which i think is actually a really good sign.
The cold hard truth is this.
Every single time the ISM has entered expansion it has sparked a bull market.
Not twice...
Every single time.
And this isn't some magical force.
It is simply because as the worlds largest economy expands, everything expands.
We have never entered a long and drawn out bear market as ISM enters expansion... ever.
To bet on that happening now, for the first time, in my view...
Is folly.
This "Epstein Quantum Saylor Liquidated Tether Binance" Dip is 100% totally organic and not at all orchestrated FUD to shakeout retail retards right before CLARITY Act is law and the institutions flood in to take their Bitcoin at a generational entry point.
Notable Sale on GONDI:
V1 PUNK #4559, Zombie, just sold for 58,000 USDC.
It was in a 24,400 USDC 30-day duration loan, and sold via the “Sell & Repay” function on the 5th day.
Did you know there’s a new NFT strategy?
This time it’s for @v1punks
The protocol already acquired 2 V1 and it’s on his way to the 3rd one #PUNKSR
As always DYOR
@punkreserve