🌎 Worldcoin Is Finally Here!

Gm, this is doodhwala, the crypto newsletter that’s going to be King of the Pirates someday! 👑

Here’s what we got for you today—

• 🌎 Hello World: Worldcoin is finally here!

• 🦄 Uniswap sus: Uniswap doesn’t know what Uniswap folk are doin’.

• 📈 Cheese and Charts: zkEVMs? Yeah, I’ll have some of that.

• 🛠️ Resourcewala: Say goodbye to inflation problems.

• 🍼 Doodhshots: Vitalik’s concern about Worldcoin.

🌎 Worldcoin is here!

Guess what doodhs!🥛

There has never been a better time than now to be a global citizen! 🌎

No, we’re not asking you to donate money for a cause.

Rather—

We’re here to talk about Worldcoin. 🪙

And particularly…how it can literally take over the Global financial system! 🥶

1️⃣ WTF is Worldcoin?

Alright, start sipping your doodh, coz things are about to head outta → into this world.🥛

The Worldcoin is a way of transacting in the new world.💱

How does one begin?

Step 1: Buy a Giant Orb that scans your iris.

Step 2: Sell your data to a giant corporation.

Step 3: Generate a World ID that confirms you’re a human.

Step 4: Transfer value the same way you’ve sent money for tens of years. Except faster.

The World ID is the most important thing to note here, as it seems to add a social verification to a crypto project. 👥

This goes along with the World App that they launched a few months ago. 📲

We wrote about it here.

Here's the official unveiling of Worldcoin. 👇

2️⃣ A.I. 🤝 Crypto soon?

Here comes the 🌶️-cy part.

You see Worldcoin is founded by Sam Altman, who also happens to be the founder of ChatGPT and OpenAI. 🤖

If you understand why the frick he built Worldcoin, you'll be shocked fo sho. 🤯

👉 He believes that there will be a dystopian future where we're unable to distinguish between humans and A.I.

👉 Having something like Worldcoin helps with that distinction since you have to verify you're a human through the orb. (Iris scanner)

👉 Worldcoin can also reshape the world economy because it adds social proof to the buyers.

Bruh.

Doodhwala thought this would be another 💩-coin we could ape into.

Why did we end up having an existential crisis? 🥲

3️⃣ Worldcoin = Pumpeeeeeeet!

Doesn't matter if Worldcoin goes mainstream or not.

Coz the token right now is 🚀🌕

Not just that, the total number of wallets created on the World app has crossed 840k+ in just a couple of months.😮

According to a report, the project currently —

👉 Has 2 million Beta users.

👉 Planning to scale the “orbing” operations to 35 cities in 20 countries.

👉 Plans to become a “Digital Passport” of the future.

It doesn't really matter how 💩-scared we are of the project.

Because if this project gets to have actual utility— We're fked. 🤐**

For now tho, look at that chart. ✨👇

Doodhwala's take: Verify your social identity by providing your eye-level data to a giant corporation that will have control of everything you do.

What. Could. Go. Wrong. 🤔

🦄 Uniswap Asia's Party Gone Wrong!

Remember the Uniswap Asia launch party in China?

The red carpet, well-dressed businessmen, the grand party, and people claiming to be Uniswap's big bosses from America?

Here's the thing: Uniswap's head, Hayden Adams, doesn't even know who they are! 🤷‍♂️🎩

This wasn't just a party.

It happened again and again in China.

This group, which later changed its name to Unifi, acted like they were connected to Uniswap.

• They tricked people into putting their money into their app. 💰💸

• They told people that more good stuff was coming — an airdrop.

• They said people could get new tokens based on how much they already had in their accounts.

Sounds cool, right?

But then… POOF! It all disappeared. 🎩🐇

On July 12, 2023, they said on their website that someone hacked their system.

The next day, they acted like nothing happened and kept promoting their project.

But soon, they said they lost a lot of money and had to stop everything on July 14.

They promised to give people their money back.

But since then, they've gone silent.

They even deleted their chats on Telegram and stopped 38,000 people in their group from talking. 🚫

After the hack, Unifi's website just said it was down for repairs.

Unifi copied the logo and branding of the real Uniswap.

They even hired people to act like they were Uniswap's bosses.

One guy, "Mike Hanlon", pretended to be the CEO of Uniswap.

He talked about how great everything was going while the real CEO, Hayden Adams, didn't even know who these people were. 😂

In China, sometimes people hire foreigners to pretend to be important businessmen.

You could pretend to be someone's date at a wedding, to earn some quick money. 💵🎭

Now, Unifi says they'll give back the lost money through their token called UNIFI.

But, the money used to create this token came from a suspicious source.

Even though China doesn't allow cryptocurrencies, people still want to invest in them.

Some people from mainland China even go to Hong Kong to trade their cash for crypto because it's easier there.

But because of the rules in China, people can easily fall for scams like this and they can't do much about it. 🚁💔

📈 Cheese and Charts: zkEVMs are Moon-ing

If you’re a reader of the Doodhwala—

Then congratulations!

You have a 140+ IQ. (This is proven by Harvard, Stanford, and other big university dropouts who can’t get a job now 🤡*)*

But that’s not the kinda knowledge we talkin’ about today.

No ser no. 🙅

We’re talking about zkEVMs, a.k.a., Zero Knowledge Ethereum Virtual Machines.

Okay now, what the hell does that do? ☝️

Simple.

• Lower cost of transactions.📉

• Increased Throughput.↔️

• Higher performance and security of transactions.🛡️

All of this has caused zkEVMs to 🚀🚀🚀

And the pioneer of this tech is none other than our beloved Polygon zkEVM!💜

Here’s what the numbers look like for zkEVMs👇

👉 Over $55 million in TVL! 🤯

👉 More than 2.8 million transactions, combined with an All-time-low gas fee.⛽

👉 230k+ unique active addresses.🔢

What do you think? Are zkEVMs finally the solution to high gas fees on ETH?

Hit reply and let us know what you think! 👇

🛠️ Resourcewala: Stake-Based Token Systems

Confused about this whole new paradigm of inflation in the realm of stake-based token protocols? You're not alone tho.

We're about to unpack this head-scratcher: a model where token issuance adjusts algorithmically and where network quality and security hinge on high-quality participation.

Yeah, it's a mouthful, we know. 🤯

Here's the lowdown in today's resource scoop:

1. Algorithmic adjustments: What the heck are they? 🔄

2. Token issuance models: Why they matter? 🎯

3. High-quality network participation: What's the fuss all about? 🏃‍♂️

🍼 Doodhshots: Vitalik’s issue with Worldcoin

• 📚 Legal Jargon: SEC's appeal in XRP case labelled as a 'non-setback' by crypto legal hotshot. Keep your heads up, XRP lovers!

• 🌍 Worldcoin Worries: Ethereum's founder Vitalik Buterin spills some serious tea over Sam Altman's Worldcoin. Time to rethink, Sam?

• 📉 Bitcoin's Lullaby: BTC volatility hits yearly low ahead of FOMC meet. Calm before the storm, Bitcoin hodlers?

• 👨‍⚖️ SBF Drama: Witness tampering accusations in fraud case brushed off by SBF's legal team. Smoke without fire?

• 💰 UBS Pays Up: US Federal Reserve fines UBS a hefty $268.5M over Credit Suisse's Archegos misstep. Pocket change or a wake-up call?

🤷‍♂️ The Other Usecase Of Bitcoin

Bitcoin is awesome.

You know that, I know that and my mom knows that.

But anything awesome can be used for both GOOD and BAD. 🤷‍♂️

So we have talked about the good stuff, but what about the bad stuff?

Here we explain how everybody’s fav Bitcoin was used for selling drugs, hiring hitmen and buying off-brand doodh. 😳

Click on the video below to PLAY it. 👇

🤣 Milky Meme Of The Day

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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.

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

Edited by: Arvind Krishna and Aakash Athawasya

🐹