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- 🔥 The Best Investment Ever -> Your Friends?
🔥 The Best Investment Ever -> Your Friends?
PLUS: China's METAVERSE moment
Gm, this is the doodhwala, the crypto newsletter that will buy the MOST amount of shares of you on friend tech. ❤️
Wtf is friend tech? You better read on 👇
Here’s what we got for you today:
👬 Friendly Investment: You can invest in your friends now.
🇨🇳 China Moment: China is ready to take its social credit system to the metaverse.
📈 Cheese and Charts: BLUR-ry vision
🛠️ Resourcewala: WTF is sharding?
🍼 Doodhshots: Vitalik's Big Drop.
📥 Invest in Crypto → Your Friends!
We know it doodhs.
Learning and investing in crypto and blockchain technology can be quite tough. 😔
Well here's the question of the hour then - how many shares of your friend do you own? 🤔
Confused? 😵💫
Don't worry, we're not asking you to disclose your share ownership of your friend’s so-called “Startup”. 💀
We're talking about friend.tech, the social app built on BASE. 👥
WTF is it? And why are people investing in each other? 🤷
1️⃣ WTF is friend.tech?
Friend tech is a social tokenization protocol that let's you generate user alpha with the help of ETH and built using BASE.
a.k.a
It's Twitter but with crypto in it. 💀
The project itself lets you invest in Twitter personalities by investing in their shares on the app. 📈
The users get access to private chats and
And this app has already seen massive adoption with Twitter (X) personalities.
NBA stars?
Celebrities?
Your favorite Twitter user?
Everyone's there on friend tech now! 😮
Look, even the guy with the Tezor wallet up his 🍑 Su Zhu is on it! 👇
2️⃣ Friend Tech’s Money Printer.
Friend tech's adoption has gone so viral that they're making 🤑🤑🤑 like it's nothing.
Over the past 24 hours, Friend Tech has risen to the top 3 in terms of fees. 🤯
Friend tech has made more revenue than huge projects like—
👉 LIDO.
👉 Uniswap.
👉 Tron.
They’re literally just one position below Ethereum right now! 😮
Not just that, they’ve made more than $800,000 in revenue in the past 24 hours, and till date have made more than
$5.9 million in fees.
$2.95 million in terms of revenue.
To put those numbers in Wall Street Slang—
If they keep those numbers, they’re gonna have some f*** you money soon! 💯
3️⃣ Next Steps: Conquer the social world.
The rise of an app like friend.tech has likely opened a new door for crypto adoption and made it mainstream.
Who knew, that of all Web 3 projects that would work, there would be one that helps you gamble on your friends? 💀
We’re just professional milk deliverers at the end of the day, and even we know that such adoption isn’t very normal for an app—
That too one that has a Web 3 / Crypto element added to it. 🪙
This also adds another layer of confidence for people who had second thoughts about building on BASE. 💪
4️⃣ Where there is light, there is darkness.
Ain’t all sunshine here folks. ⛅
So many questions to ask—
Why can one not use the app on a desktop?
Why does the privacy policy say ‘coming soon’? 💀
What level of my data will get leaked if I use the app?
And So. Many. More. Questions.
Perhaps one of the biggest ones would be - Will it get hacked and rekt? 📉
Coz BASE has seen multiple hacks and rugpulls so far.
We wrote about it here→
But hey, you know what they say? 👇
So let’s hope for the best—
And believe that investing in your friends is better than investing in the next best 💩-coin.
🇨🇳 China in Metaverse
Guess what? China wants to bring its real-world scoring system into the metaverse.
Yep, China! 🤯
The country that’s been… well kinda anti-crypto for a while.
But wtf is this Social Credit System? 🤷♂️
So think of it as a report card for adults, where you get grades based on your behavior in real life.
Thank God there isn’t one in India cuz then I’d be roaming around with 2 shitty report cards - I don’t get good grades in studies too. 😞
For those still scratching their heads: 🤔
It’s like your financial credit score but WAY broader.
Ranks you on your overall behavior, not just your financial actions.
Good stuff = Good points. Bad stuff = Bad points.
If you collect too many bad points, there are penalties, like not being able to use certain online services.
How did we find out? 🕵️♂️
A big company in China, China Mobile, suggested creating a “Digital Identity System” for everyone in virtual worlds.
That means, whatever you do in real life might have effects in your online games and chats. 🎮
And here's the juicy gossip: 🗣️
They want to blend real-world details with online IDs.
They might keep this data. Like, forever. 😅
Why are they doing this now? 🧐
Some research showed China's been super active in creating patents blockchain technology.
Fun fact: 90% of all blockchain patents worldwide belong to China. 🎖️
So, when Sergiu Hamza, a big name in this area, says China wants to mix social stuff into technology, we LISTEN!
But why care about the social credit score online?
Well, The Guardian has been sounding alarms since 2018. They were like, "Yo, this could mess with other nations' independence."
Yeah I mean everyone should be allowed to drink as much doodh as they want.🥛
But it isn’t JUST about that social credit score.
Mr. Hamza spilled that this is all part of a BIGGER picture - the epic combo of AI, blockchain, machine learning, and that sweet, sweet cloud tech. 🧐
China shared these ideas at a big tech meeting called ITU (basically the United Nations tech rulebook writers).
Hamza hinted that the West might soon want in on this tech. And China's Digital Yuan might just play a big role.
Tho all that China’s done till now is make duplicates of everything and proudly write “Made in China” on it. 🤨
So, what's the future looking like? 🌠
Don’t worry it’s not gonna be as bad as mine.
Two ways this could roll:
China rules the Metaverse with slick features and killer microtransaction perks using their Digital Yuan.
Other countries might go, "Hey, China, can you show us how you did that?"
Either way, the metaverse is in for a ride. 🚀
📈 Cheese and Charts: BLURs Downfall
Remember BLUR?
That NFT platform that everyone was talking about a while back?
Yeah well, things aren’t going in the right direction for them. 🙅
That’s right!
The Total Value Locked (TVL) on the platform has dropped from—
Over $150 million → $90 million! 😨
Why is there such a huge drop in TVL, you ask my doodh?
Here’s the thing, it isn’t one particular thing we can point out to. 🤷
There are a bunch of consistent oopsies that the BLUR team has been pulling—
Started off as an NFT platform focused on Volume > Quality of Projects.
Kicked off high-leverage projects like Blend - which add more to volume and risky participation.
They weren’t subscribed to the Doodhwala! 😠🥛
Not just that.
As the narrative for volume takes over,
NFT artists lose out on launching successful projects through which one can lose out on royalties on.
What do you guys think? Is BLUR hear to stay or leave?
Hit reply and let us know what you think! 👇
🛠 Resourcewala: Studying Ethereum’s Sharding Magic
What is this sharding thingy? 😲
Well, for those who’ve been snoozing under a blockchain rock, sharding is ETH's secret sauce to scaling up and becoming the “Beyonce” of blockchain networks. 🎤🔥
Why’s everyone obsessed with it? Why’s it important? How will it give Ethereum the much-needed glow-up? 🌟
So, today’s potion has got you covered on:
The deep dive into Ethereum Sharding
How Sharding is Ethereum’s Glow-Up ingredient
The whole finality fuss everyone’s whispering about
READ TIME: Quicker than a shard can split. 🚀
LFG! 🔥🔥🔥
🍼 Doodhshots: Vitalik's Big Drop
🎰 Jackpot Miner: Lucky solo digger scores a cool $160K with a single Bitcoin block reward. Mining solo isn’t so lonely after all!
🌬️ PayPal's PY-Storm: PayPal's fresh PYUSD stablecoin is already caught in a whirlwind of legal drama and 'less functionality' woes. Not so stable, huh, PayPal?
💰 Vitalik's Big Drop: Ethereum's co-founder Vitalik Buterin transfers $1M ETH into Coinbase. Was this a hint or just a hunch?
🚫 No Leak Look: In the face of rising "data leak" concerns, Friend.tech stands firm, asserting no breach has occurred. All clear or smoke and mirrors?
🎣 Phishy Terra: Terra sends out a warning to users after hackers cunningly transform domain into a 'phishing site.' Better watch where you click!
🤣 Milky Meme Of The Day
How an NFT mfer became an NFT mfer.
— Doodhwala 🥛 (@DoodhwalaDaily)
Aug 21, 2023
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That’s all for today folks! See ya tomorrow!
Yo! Our legal and financial advisors (aka our good ol’ conscience) have asked us to add this boring disclaimer. None of what you read here is financial advice. We aren’t here to get you to buy or sell crypto. We’re only here to tell you what’s up in crypto today and make you laugh. So, if you screwed up on a trade, that’s on you G. Stay safe in the markets.