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⌐◪-◪ → Looks like Consensys wants to enter the liquid staking sector with Metamask’s new pooled staking service.

Unfortunately, the service will be unavailable in the U.S. and the U.K. due to regulatory concerns.

This now puts Consensys in direct competition with major liquid staking players like Lido and Coinbase — who currently command 28.6% and 12.9% of ETH staking power. For context, nearly 27.2% of the Ethereum supply is currently staked.

It will be interesting to see how this move affects:

1. total % of Ethereum supply staked

2. staking provider market share/competition

This move is healthy for the space as it decentralizes staking, the backbone of ETh’s consensus mechanism. → Let me know if you agree in Specs Chat.

⌐◪-◪ → 0xDesigner posted a tweet 2 days ago questioning memecoins and why they are still the dominant narrative.

His post resonated with me. Sometimes memecoins feel like a massive waste of blockchain potential — showcasing greed, one of the 7 deadly sins, in a way no technology has before.

Vitalik responded with 7 legitimate use cases including:

• decentralized social

• prediction markets

• zk reputation/identity

Love or hate memecoins — the mere fact that they can even exist is a testament to the freedom-enabling nature of blockchain. The government’s monopoly on gambling, sweepstakes, etc. is over.

Are memecoins legit, or are they a complete and utter waste of time? → Let me know what you think in Specs Chat.

⌐◪-◪ → Terraform Labs and Do Kwon just agreed to pay the SEC $4.5B in disgorgement, prejudgment interest, and civil penalties.

While it still needs to be approved by a judge, the settlement would ban Do Kwon and Terraform Labs from buying or selling all crypto asset securities.

Terraform Labs’ CEO, Chris Amani, wrote a detailed post on what’s next for the company. TL;DR:

1. Terraform Labs (TFL) will wind down completely

2. Proposal will be posted to burn all TFL’s unvested Luna

3. Community will need to take ownership of the chain

4. TFL’s products will keep running until they can sell

All things considered, I’m excited to see another crypto drama come to an end so that the space can move on to bigger and better things.

Would you rather be cell mates with SBF of Do Kwon? → Let me know what you think in Specs Chat.

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