Subscribe | Specs Chat | Sponsor Us

⌐◪-◪ → MetaMask just got a huge upgrade, and now has a built-in feature that lets users easily check if they are eligible for airdrops or NFT claims. Give it a try yourself here!

The feature is powered by Daylight, which was built by one of my friends Kyle McCollom, go give him a follow!

This solution solves a real pain point for users, who if they’re anything like me, struggle to keep up with all the “free money” they’re leaving on the table. Just last week I missed a SAGA airdrop for CryptoPunks & Apes worth $1.8k, big sad — and I’m pretty plugged in.

On the flip side, the tool helps creators better reach their audience, so it’s a win-win for both sides of the equation.

I just created a weekly reminder (on Sunday) to check Daylight/Metamask for airdrops, it only takes a few seconds but could yield thousands. Thank you Daylight and Metamask!

⌐◪-◪ → DeFi trader Avi Eisenberg is currently on trial for allegedly stealing $110M on Mango Markets, but there are two sides to the story.

• The prosecution argues, “he wasn’t really borrowing, he was stealing” adding that he committed commodities fraud and market manipulation.

• The defense argues that he was making a calculated high-risk/reward bet, which required him to risk $13M of his own dollars — he could have lost everything.

For context: In October 2022, Eisenburg turned $13M into $110M by draining Mango Market of all its assets by trading against himself.

He did so by making a massive bet on the future price of MNGO, gamed the market to drive up its value, and then once the token was up 1,000% — borrowed against it to capture all of MGNO’s value, rendering it insolvent.

This begs the question, when a protocol/smart contract is designed poorly and someone takes advantage of it — is that a crime, or is it just part of the game? (i.e. don’t hate the player, hate the game).

I’ll be keeping a close eye on this case. While I’m sure the reality of this specific situation is very nuanced, the broader theme is something we’ll see in court again — and this case could set precedence.

⌐◪-◪ → EigenLayer launched on Ethereum mainnet today, taking the first step towards building a verifiable digital commons — or what some are calling the “verifiable cloud”.

EigenLayer unleashed an entirely new category, restaking, which allows staked ETH to be “restaked” and used to secure/run AVS (Actively Validated Services).

• Ethereum is the verifiable internet.

• Rollup is the verifiable web server.

• AVS is verifiable SaaS.

• Eigenlayer is the verifiable cloud.

There has been a lot of hype surrounding EigenLayer, so I’m excited to see if it can live up to its multi-billion dollar hype.

Adding to the hype, Coinbase and Google Cloud just joined EigenLayer as operators, along with several other firms.

A Google Cloud PM stated that his team has been involved with Eigen’s testnet since November and has already implemented an operator node on the mainnet.

This could be Blockchain’s AWS Cloud moment.

Join The Conversation!

Unlock Specs’ full potential by joining Specs Chat, where members chat with Valko, add context to the daily crypto news, and share a diverse set of perspectives.

Specs Chat is more than just a group chat, it’s a community designed to help you become a better crypto investor and operator.