💜 MATIC is OUT. POL is in.

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Gm, this is the doodhwala, the only crypto newsletter that has an extra umbrella for you in case it rains.

Don’t worry, we got you. ☂️

Here’s what we got for you today:

• 💜 From MATIC → POL: All the lowdown on Polygon 2.0

• 🚫 Ripple’s BIG win: Judge rules that XRP is __ a security

• 📈 The next BIG market: Crypto meets the real world

• 🛠️ Resourcewala: The BTC Mystery Revealed

• 🍼 Doodhshots: Finally Europe Beats The US At Something

💜 Better Call Polygon POL

Polygon is up to some next-level stuff.

It’s planning to upgrade MATIC into a super token! 🦸‍♂️💎

And this isn't some random rumour, it's a real thing straight from Polygon! 🤩

But... hold on, isn't MATIC Polygon's baby? 😯

Then how can it become a super token for all chains? 🤔

Calm down, my doodhs (tho my girlfriend doesn’t). 🤕

So here's the deal:

Polygon plans to boost MATIC into a universal token validating multiple chains.

But, like any democracy, the Polygon community has to vote 'Aye' for this to roll. 🗳️

Once greenlit, we'll wave goodbye to MATIC and welcome the new avatar, POL. 😎

What's the doodh about POL?

POL will work across all Polygon protocols.

1️⃣ So from Polygon PoS (Proof-of-Stake, a way to validate transactions and achieve consensus in the blockchain) to

2️⃣ zkEVM (an upgrade that makes transactions more private) and

3️⃣ Supernets (another fancy feature of Polygon), POL will be there.

Yup, you heard right - all of them - from Polygon PoS to zkEVM and Supernets! 🚀

According to a report, this upgrade aims to let the protocol participants, AKA actors, to scale and support thousands of Polygon chains without compromising on security.

Now, that's something! 💪

POL, is all about harmonizing and incentivizing validators to do meaningful work. 🤠

Wtf are validators?

If the proposal takes off, we'll witness new features like limitless scalability and frictionless interaction between protocols. 🌐

Basically this 👇

Hold up, there's more!

POL staking could unveil three incentive streams for validators:

• protocol rewards

• transaction fees

• extra goodies (no, not like the free merch we live for) 😛

In addition to validating multiple chains, validators can take up multiple roles on a single chain, including producing zero-knowledge proofs and joining data availability committees.

Basically, this POL token will motivate the validators to do more useful work.

Doodhwala’s Take:

Don’t know if Polygon people are down for the upgrade. 👍 or 👎?

But we definitely know that they’re always 👍 up for a glass of beer doodh. 🥛

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🚫 Ripple is NOT a security

XRP, the fifth largest crypto in the world, went up by 60% in 4 hours:

The reason?

A US court ruled that XRP is (sometimes) a security, but (sometimes) not a security.

Yeah, I’m as confused now as I was at the end of Inception, or Interstellar, or Tenent, or any Christopher Nolan movie. 

But it’s not as straightforward as it sounds.

The judge divided the sale of XRP into 2 phases:

1️⃣ Institutional Sale → When XRP was sold to institutional investors (like VCs, Hedge Funds, executives, etc).

2️⃣ Programmatic Sale → When XRP was sold to retail investors (like you, me, and that anon Twitter account that keeps shilling XRP).

Phase 1: Institutional Sale

The judge ruled that phase 1 was the sale of a security aka an “unregistered offer and sale of an investment contract.”

Therefore XRP = SECURITY!

The reason was:

• Ripple received money from institutional investors

• Pooled it into separate bank accounts

• Controlled it through one account

• Financed all its operations

All of this ☝️ was known to the investors and they even profited from the rising price of XRP at the time.

Phase 2: Programmatic Sale

The judge ruled that phase 1 was the sale of a security aka an “unregistered offer and sale of an investment contract.”

Therefore XRP = NOT A SECURITY

The reason was:

• Ripple’s retail investors made blind purchases/sales

• Investors didn’t know the money was sent to Ripple

• Investors didn’t expect Ripple to increase the price of XRP

• Ripple did not use this money from investors for operations

In fact, the court said that retail investors would not understand the complex information coming from the SEC warning them that XRP was an unregistered security.

Yo, the court thinks we’re a bunch of dumb dumbs. 😭

So, what’s the final word – security or not?

Investors think this means – XRP is NOT a SECURITY. Hence, the price jump.

Exchanges think this means – XRP is NOT a SECURITY. Several exchanges listed XRP immediately after this ruling came out, including:

• Coinbase

• Gemini

• Kraken

The community thinks this means – XRP is NOT a SECURITY.

Doodhwala’s take:

We don’t know if XRP is a security or not.

The only “security” we believe in is – Always keeping a week’s worth of milk supply in the refrigerator. 😷

📈 Latte and Lists: RWAs – The Next Big Thing?

Have you ever seen a rocket launch? If not, no worries.

Just look at the TVL (total value locked) of RWAs. 🚀

But wtf are RWAs?

No, it's not a band or a fancy new diet.

Now, why are we talking about them?

Well, they've silently crept into the crypto scene, and they are making some noise!

Even more than those people who blow the horn even at a red light, I mean why bro?

RWAs have blasted into the top 10 largest crypto categories by TVL.

TVL growth of RWAs? A whopping 257% increase this year alone.

💰 That’s $700 million for you.

And here's the big surprise.

Even with this growth, we're just scratching the surface.

The market opportunities for RWAs are in the trillions.

🤔 What does this tell us?

Simple.

In the crypto world, real-world assets are the new big thing.

Everyone wants a piece, and those who don't, they're like that one guy at a party who refuses to dance. 💃🕺

So, do you want to dance with RWAs? Let us know! 👇

🛠 Resourcewala: Bitcoin Ain't Child's Play

You've got the Bitcoin bug, haven't you? And yet, you're like, "WTF, how does it work?"

Yeah, we get you! 🤯

Head spinning already? 🌀 Cool. We love that!

Because in today's resource, we are about to dive headfirst into:

• What the hell is this "Blockchain Spectrum"?

• Why Bitcoin is not your average Joe (or coin).

• The core concepts that make Bitcoin Bitcoin.

And finally, why it's so damn hard to wrap your head around it. 😣

READ TIME: Shorter than a Game of Thrones episode (and less bloody). ⚡️

🍼 Doodhshots: Europe Beats USA

• 🌿 Green Thumb: Ethereum takes the crown in new Crypto ESG ranking, while Bitcoin gets a slap on the wrist for being an energy glutton. Clean and green or just a bit mean?

• 📈 ETH A-Go-Go: Ethereum activity is shooting up as on-chain metrics print fresh all-time highs. ETH hodlers, are you popping the champagne yet? 🍾

• 💵 Dollar Drama: Circle CEO warns Congress that the US dollar is on shaky ground. Is it time for Bitcoin to take the throne? Let the games begin!

• 🇪🇺 Europe > USA: A London-based multi-asset fund will debut a spot Bitcoin ETF for European investors before the end of 2023. We’re team EU now.

• 🙈 Oh Alex: The US Department of Justice arrested Celsius’ former CEO Alex Mashinsky and filed 7 charges against him. And they were just 1 year too late!

🤣 Milky Meme Of The Day

If you want more doodh then, be sure to follow our Twitter, LinkedIn, and Instagram.

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.

Today’s edition was brought to you by Ritik Gupta and Sumanth

Edited by: Arvind Krishna and Aakash Athawasya