enerbyte

#bitcoin

[Adeniyi.sui @EmanAbio]

Countdown: Free stablecoin movement and Invisible private txns on #Sui. AI will route to the sharpest public rail. We’re not waiting anymore.

Read on 👇 https://t.co/GwxU5Kj7PT

[The White Whale @WhiteWhaleLabs]

We Did It - Public Outcry Forces MEXC To Do The Right Thing

I didn't have a draft statement for this occasion, as I honestly never expected it to come.

I did see the public apology, and while appreciated, it didn't specify what they were apologizing for. Implying I was a criminal (with their public AML claims in the beginning) or a scammer (with the most recent accusations after AML was publicly debunked) would have been nice.

I stand on my word that I have NEVER used any automation, secret API access, or bots when I conducted my trades on MEXC.

I'm just a trader, who wins or loses by his own hand.

So an apology for smearing my good name would be more important to me than an apology for holding my funds in the first place. But I will accept the apology, regardless. I'm sure it wasn't easy to write.

That said, our work is not yet done. Throughout this saga over the past few months I've read 100s of cases of people just like me who have been put on indefinite freezes with no access to their funds.

People who did not have as large of a microphone as mine.

People and organizations make mistakes.

But both people and organizations have the ability to change.

If MEXC is truly sorry and wants to build a better future, let's start here:

1. Never should the exchange have the financial incentive to "keep" or cause a customer to forfeit their funds. Especially when they act as judge, jury, and executioner to determine your guilt in the first place. If suspected criminal behavior is present, it should be turned over to the proper authorities. Period. MEXC needs to make this public commitment that they will never simply confiscate customer funds as has been done so many times in the past (and they admitted they were planning on doing with me).

2. Valid risk control processes exist for a reason. I don't want terrorist organizations or child trafficking rings to be using an exchange to launder money either. However we have to accept and understand that innocent people DO get flagged for a variety of reasons. MEXC needs to make a commitment towards expediting their review process. And once the financial incentive to find you guilty has been removed from the equation (see #1) they need to have reasonable time frames for either referring a case to proper authorities or unlocking customer funds. MEXC risk control team is not law enforcement. They should not act like it.

In the beginning of this issue being made public I recognized that I was not a voice for only myself. There are many good people who still have accounts frozen that have not gotten the visibility my case has.

That's why it never felt right to take the money back and keep it for myself. It's not fair that someone who has status or wealth or a certain amount of social media followers be treated so differently than every other person who has their hard-earned money taken from them.

I'm happy to announce that I am going to distribute 100% of these funds - as I initially promised - to be split between the first 20,000 supporters (NFT holders) - and the remaining 50% to verified non-profit organizations.

Because I wasn't expecting this to happen today I ask to give me a couple days to properly set up the airdrop claim mechanism, and work out a way for the community to vote on non-profits they care about.

I have family obligations that will keep me limited engagement today, but I'll make forward progress on this and hope to have it live in the next couple of days.

Thank you all, from the bottom of my heart.

The battle has been won. But the war is far from over. And this isn't just a war against MEXC. It's a war to continually improve our space. To fix our own problems so that governments don't need to step in and fix them for us. To continue the evolution of Satoshi's vision as we craft, test, break, and rebuild this beautiful new world together.

🫡 From the depths —
The White Whale 🐋

https://t.co/S3qpfLGHBo

[Cointelegraph @Cointelegraph]

🔥 UPDATE: $SUI leads the largest token unlocks this week with $146.24M, followed by $GRASS ($77.58M), $ENA ($48.88M), and $EIGEN ($41.63M).

[enerbyte @enerbyteSA]

@ZinkSVM 👀

[Autism Capital 🧩 @AutismCapital]

If you recognize this, you were a legend.

[Zamsor ⪛⦿⫺ @Zamsor1]

@YouTube @TeamYouTube Please help @BTH2620 get a live employee review of his unjust channel ban! He's a dedicated Star Atlas creator sharing 4 YEARS of positive community content. @staratlas & @solana community, repost to support! Let's get his voice back. 🚀 #YouTubeBanAppeal

[enerbyte @enerbyteSA]

@COLDCARDwallet Me gusta, aunque aún no tengo una, pero creo que es la mejor hardware wallet para btc

[COLDCARD @COLDCARDwallet]

Your Bitcoin should only move on your terms.

COLDCARD’s Spending Policy + 2FA makes that possible: rules for magnitude, velocity, address whitelists + extra security with 2FA.

We’re giving away a COLDCARD Q so you can set up your own policy.
Like + Repost + Comment to enter 🎉

[Jupiter Mobile @jup_mobile]

☄️ $MET ELIGIBILITY CHECKER IS LIVE!

Import your wallet into Jupiter Mobile and check your eligibility now⚡️

Because we always drop the best alpha 👀

[kash @kashdhanda]

A Fresh Start for $JUP (Major Changes Coming)

This one is for the token holders. The ride or dies. The folks who have held through up and down, supporting a project they believe has the ability to change the future of finance.

We know it hasn’t been easy lately.

But here’s the good news: we hear you. And we’re moving to make changes inspired by your ideas and our deep reflections on what $JUP should be.

In classic Jupiter style tho, this is going to be a somewhat long essay. Before we can step into the new future, we must acknowledge the past and clearly articulate how we’re changing our approach going forward.

But if you read the whole essay, you’ll find 3 major changes that demonstrate how important your feedback has been over the last few weeks/months.

—-
Reflections on $JUP

The $JUP token was initially aimed to be the lynchpin of the Jupiter DAO. That worked quite well to kick things off.

Together, we built the largest and most active DAO ever. We regularly had hundreds of thousands of voting wallets, voted on 20+ proposals, and pioneered concepts like Active Staking Rewards before anyone else.

In a time where it’s rare to see DAO proposals get more than 100 voters, we showed it was possible to build governance that massive numbers of people cared about. We likely experimented the most amongst all the major protocols about what it means to be a community, a DAO and a platform - and we most certainly learnt a ton.

But there were also problems that only became obvious over time. Specifically:

- Mechanics of governance turned some potential holders away from the token - for example, the frequency of voting and the 30 day lockup.

- We were spending too much time and energy on public comms around the DAO, reducing the amount of attention on the Jupiter product suite and the overall Jupiter mission

- Budgeting votes for Work Groups created a massive divide in the token holder base and drew negative attention to $JUP

All these, combined, had one MAJOR disadvantage - attention was consistently drawn away from the great work of the team/community towards things that drew the ire of token holders.

Fundamentally, the previous setup was not additive to the $JUP token.

To move forward, we need to keep what was good, and change what was not.

/// Major Change #1: Scaling Back the DAO
After countless conversations with token holders, it’s clear that the Jupiter DAO is an important vehicle.

Many $JUP holders believe deeply in the power of community governance, and are excited to be able to share their opinions and shape the future of Jupiter.

But these conversations have also made clear that the DAO should be laser-focused on extremely high-leverage actions. The constant flow of votes was a drain on token holder attention, especially when vote subjects felt “small”.

The other thing was that the votes, a major major driver of community attention, constantly drawn attention to, and vastly

Going forward, the DAO will have a narrower focus on broad tokenomics decisions and major treasury stewardship items.

This means no more Work Groups, fewer overall votes, and more focus in our public comms on products and growth.

Token Holders can rest assured the conversation about Jupiter will not be dominated by politics, while still being able to effectively drive decision making around key items that affect our collective future.

We are also going to be refocusing the community energy away from politics and towards a pro-social core mission - onboarding the world to DeFi - as will be explained in a separate community post by @AlleyCatNY.

/// Major Change #2: Reducing the Unstaking Window

Initially, we created a 30 day lockup on staked tokens. Given that Active Staking Rewards were high and governance votes were very frequent, this made sense to ensure only those who were longer term aligned with the Jupiter mission would be able to participate.

But now, we stand at a critical juncture. The key is not only to find long-term aligned holders, but to create more of them. And, as we’ve heard from many token holders, the unstaking window of 30 days is too long and turns away potential buyers (particularly large-scale institutional buyers).

To meet in the middle, we are going to reduce the unstaking period to 7 days without any penalty. This ensures those who are participating in governance are not simply buying/dumping $JUP to cast a vote, while still giving token holders the flexibility they want and need.

This change should go live in the coming weeks.

/// Major Change #3: Burn the Litterbox (subject to a DAO vote)

Finally, to kick off this new chapter of the DAO, we want to start with a critical vote that has been the subject of MANY conversations with token holders: the Litterbox Trust.

The Litterbox Trust receives 50% of protocol revenues from Jupiter and uses those revenues to accumulate $JUP from the open market.

It currently holds over 121m tokens (~1.7% of the total supply, ~3.8% of circulating supply), and grows every hour.

The original plan was to hold a DAO vote after 2 years to decide what to do with the accumulated tokens. But we’ve heard two different critiques.

First, some token holders have suggested that holding a large amount of $JUP without clarity on how the tokens will be used is creating uncertainty. By far the most common suggested solution is to “burn” these tokens.

Second, some token holders have suggested that the buybacks themselves are not particularly effective. The solutions for this are more varied - some want continuous burns, some want increased investment in product growth, and some want other use cases of the revenue.

Deciding what to do with 1) the current $JUP holdings and 2) the ongoing revenues are both massive decisions. They are the perfect example of the types of decisions that the DAO can and should have active input on.

Starting today, we’ll hold a period of public discussion on the first question (Burning the Litterbox). This will continue for ~10 days, with a formal vote to Burn the Litterbox’s existing holdings shortly thereafter.

After that, we will have a separate conversation about whether the $JUP Accumulation Plan should be continued, or if there are much better uses for the revenue.

If you’re a token holder, now is the time to make your opinion known, and to get involved again in meaningful governance!

–

All three of these changes are concrete and tangible, but I want to also point out a more philosophical change that’s taken place within the team.

For a long time, we didn’t give JUP the type of attention we give to our products. Each product has a clear value proposition, a marketing plan, iterative improvement process, etc.

And for a long time, JUP didn’t have this. We expected the market to understand the value of JUP based on the strength of our products, community, and vision. That was a mistake. And one that we are already in the process of fixing.

Going forward, we’re going to give JUP the attention it deserves.

We need to be incredibly vocal about the Jupiter story, about the JUP story, and about the story of DeFi going forward.

And we’re going to be having more conversations in public about other long term use cases for JUP that will integrate into the future of Jupiter platforms.

So here’s my free advice - if you’re tired of seeing talk of Jupiter, switch to Bluesky 😉

[Arkham @arkham]

BREAKING: TRUMP INSIDER WHALE IS NOW SHORT $340M $BTC

The HyperUnit Bear Whale who shorted $700M of $BTC and $350M of $ETH right before Friday’s market crash (making ~$200M total) just deposited $40M USDC to HL and shorted another $127M $BTC.

He is now short $300M $BTC and has an unrealized PnL of $5M.

[Massimo @Rainmaker1973]

Man of questionable sanity ✅
Very polite pig ✅
Dancing parrot ✅
Curiously chill chicken✅

[Sui @SuiNetwork]

The universe of @EVE_Frontier, from the creators of @EveOnline, is expanding on Sui.

A living, player-built galaxy of thousands of star systems powered by Sui’s scalable, composable architecture.

The future of virtual worlds runs on Sui.

Learn more 👇
https://t.co/3rtR9y2twu

[evan.sui @EvanWeb3]

When we set out to design @SuiNetwork, we made hard, conscious decisions to ensure it would outlast ourselves. That's what's required for infrastructure that supports economies that last forever.

@EveOnline is a prime example of a "forever game." We are so thrilled to partner with the @EVE_Frontier team to build a universe that will outlast us.

We are busy at work bringing on millions of Eve Online players to Eve Frontier. More updates soon.

[Sui @SuiNetwork]

Did you see this coming? 👀

Dropped at #SuiFest: Suiball by @citadelwallet – the first hardware wallet built to natively support Sui & Bitcoin.

✅ Clear Signing (no blind txs)
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Pre-orders (35% off) 👉 https://t.co/q9hW8RihBB

[MystenLabs.sui @Mysten_Labs]

Sui is a launch partner for @Google’s new Agentic Payments Protocol (AP2) - a standard that lets AI agents transact on behalf of users.

Originally developed by Mysten Labs, @SuiNetwork brings fast, programmable payments and privacy-first identity to power the future of agentic commerce 👇

[Walrus 🦭/acc @WalrusProtocol]

🔓 Liquid Staking on Walrus

Staking WAL helps to secure the network - and Walrus' Liquid Staking Tokens (LSTs) provide a smart design to transform your illiquid staked WAL position into a flexible, tradable LST.

[Star Atlas @staratlas]

Announcing https://t.co/FDGkMtKo7v, the identity-linked SVM Layer 1 chain from the creators of Star Atlas.

Every transaction. Every on-chain moment. Your wallet levels up, your reputation grows.

Airdrop season starts this September. You're going to want to follow @ZinkSVM.

[z.ink @ZinkSVM]

We have something special for a few people who:

🟩 RT this post https://t.co/ze0qvR8BWv
🟩 Follow @ZinkSVM