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GM. This is Milk Road, where we bring you the crypto news that matters β no detours, straight to the destination. |
Hereβs what we got for you today: |
Cryptoβs getting a new stablecoin π Milk Road is launching a podcast ποΈ Solanaβs BIG problem right now π§ BTC ETF flows just turned positive again πͺ |
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CRYPTOβS GETTING A NEW STABLECOIN π |
Say hello to cryptoβs new stablecoinβ¦ the Ripple stablecoin*. |
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*P.S. - The token doesnβt have a name yet. Itβs like a celebrity baby awaiting the reveal of its unique, headline-worthy name. |
Hereβs everything we do know so far: |
The stablecoin will be pegged to the U.S. dollar. It will be backed 100% by USD deposits, short-term U.S. Treasurys, and other cash equivalents. The reserves will be audited by a third-party accounting firm and Ripple will publish monthly attestations. The Ripple stablecoin will be available on XRP Ledger and Ethereum later this year, with plans to expand to other blockchains and protocols in the future. |
This isnβt Rippleβs first crypto rodeo either. It already has a token ($XRP), a blockchain (XRP Ledger) and now, itβs going for the trifectaβ¦ a new stablecoin. |
But the Ripple stablecoin will have its hands full as it tries to compete with⦠|
Tether ($USDT): currently has a $106B market cap and dominates 69% (giggity) of the stablecoin market. Circle ($USDC): currently the 2nd largest stablecoin with a $32B market cap and 22% market share. |
Weβll see if the no-name rookie can compete with the rest of the vets. |
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INTRODUCING MILK ROAD RADIO ποΈ |
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The Milk Man believes in 3 things: |
1/ The whole world will move onchainβthatβll bring massive opportunities for early investors like you. |
The Milk Man wants to make sure you donβt mess it up! |
2/ 99% of this industry is trash but 1% is goldβeach cycle comes with a new narrative: ICOs in 2017, NFTs in 2021, AI in 2024 etcβ¦ |
Once the narrative stops, 99% of projects disappear, while 1% reshape industries forever. |
The Milk Man wants to guide you to that golden 1%. |
3/ Crypto needs to be more funβthis needs no introduction. The Milk Manβs been doing this for years, every day. |
Now itβs time to level it up with Milk Road Radioβthe podcast you need as a founder, investor, or user, to capitalize on this massive opportunity called crypto! |
What to expect: |
ποΈ Weekly podcast published 3x/week. |
π‘ Hosting cryptoβs greatest minds. |
π Technical and macro analysis to make sense of the market. |
ποΈ Keeping you updated with the latest in crypto. |
So grab a glass of milk, and watch our first special episodeβweβre introducing Milk Road Radio, our beliefs, our mission, and, most importantly, our hosts. |
Help us grow by subscribing/following us on your favorite podcast platform. π |
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You can check out the latest episode on any of our platforms: |
YouTube | Spotify | Apple Podcasts |
P.S. - Early Milk Road Radio listeners get a discount on Milk Road PRO. Weβre also giving away some swag and free PRO memberships, so tune in! |
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SOLANAβS BIG PROBLEM RIGHT NOW π§ |
Earlier this week, a good friend of mine embarked on his first journey into the Solana ecosystem. |
It was like watching a kid before his first day of school. He was buzzing with excitement... |
Crypto wallet: Downloaded β
Funds: Deposited β
He even carefully picked out his outfit before his first day of trading. |
Well, yesterday, he sent me his first update. 3 simple wordsβ¦βWhat. The. F*ckβ |
Turns out it was a rough first couple of days at crypto school. |
His transaction log? Looked like a digital graveyard. All his transactions were failing. |
His laptop? Has been turned into a piece of βabstract artβ. Just look for yourselfβ¦ |
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If youβve been using Solana recently, youβve probably had a similar experience. Transactions are failing left and right. |
In fact, according to our researchers, only about 30% of βnon-vote transactionsβ have been successful this week. |
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Now, thereβs a lot of chatter that this is because βSolana is failingβ. But thereβs a bit more nuance to thisβ¦ |
Itβs not that the chain itself is failing and Solana canβt actually settle/execute the transactionsβ¦ The problem is that things are moving so fast that the price/thing you were trying to do is simply no longer available. |
P.S. - If you wanna nerd out some more, this is a great Twitter thread that breaks down whatβs happening. |
Either way, this is becoming a big problem and it seems like everyone and their momma are experiencing it. |
So we got curious⦠|
What % of your transactions have failed on Solana over the last week? |
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Click on your answer above and weβll share the results tomorrow! |
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BITE-SIZED COOKIES FOR THE ROAD πͺ |
ZKX, the OG Starknet perp exchange, is focused on delivering a smooth trading experience β and they recently announced another feature: Paymaster! Users can now direct deposits to OG Trade and Pro Trade, minimizing gas fees and optimizing trading experience.* |
Weβre hiring! The Milk Man is searching for a talented and driven crypto-native Finance Analyst and Writer to help contribute to Milk Road PRO research. If you have expertise in financial analysis and a deep understanding of the crypto space, you might be a great fit! Reach out by filling out this form. |
BTC ETF flows just turned positive for the week. Wednesdayβs $113.5M in net inflows, following the $40.3M added on Tuesday, were enough to surpass the $87.5M in net outflows on Monday. |
Galaxy Digital is launching a new $100M crypto fund for early-stage startups. The 9-figure fund will bankroll as many as 30 companies in the next three years. |
Coachella launched a new Avalanche-powered game for festival-goers, called Coachella Quests. As fans complete Quests, from engaging with the festivalβs Discord to completing on-site scavenger hunts, they will earn digital Stamps (NFTs) and associated Points (XP) that can unlock access to exclusive prizes and festival experiences. |
Bitfinex Derivatives launched perpetual futures tied to BTC and ETH volatility indices. This means users can now place bets on the top 2 cryptocurrenciesβ volatility. (Degens gonna degen) |
Vana launched a new DAO called Reddit Data DAO. It rewards users for contributing their Reddit data and lets users vote on what to do with the collective data (i.e. selling it to A.I. companies for model training). |
*This is sponsored content |
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MILKY MEMES π€£ |
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ROADER REVIEW OF THE DAY |
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VITALIK PIC OF THE DAY |
| Milk Road Images @MilkRoadImages | |
| when you try Solana for the first time and your first 8 txs all fail... | | | Apr 4, 2024 | | | | 0 Likes 0 Retweets 0 Replies |
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DISCLAIMER: None of this is financial 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. Please be careful and do your own research. |