Share this page!

Enter URL or ID to Unroll

You can paste full URL like: https://x.com/threadreaderapp/status/1644127596119195649
or just the ID like: 1644127596119195649

How to get URL link on X (Twitter) App

  1. On the Twitter thread, click on or icon on the bottom
  2. Click again on or Share Via icon
  3. Click on Copy Link to Tweet
  4. Paste it above and click "Unroll Thread"!
  5. More info at Twitter Help
Zach Rynes | CLG Profile picture
@ChainLinkGod
May 25, 2021 • 6 tweets • 4 min read • Read on X
Scrolly
.@GameStop is launching NFTs on the Ethereum blockchain 👀

nft.gamestop.com
etherscan.io/address/0x1337…
The launchDate variable on the contract indicates the NFT(s) will launch in two months, July 14th 11:20am GMT
Lol wait wtf, the site also has the Google Chrome runner game
nft.gamestop.com/runner.html
A single NFT has been minted thus far and it contains an IPFS URI that hosts the video shown on the nft.gamestop.com website
The owner of the NFT contract is a Gnosis Safe multisig and holds the @ensdomains name gamestopnft.eth

The addresses interacting with the gnosis safe were funded by withdraws from Binance so the trail stops there

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with Zach Rynes | CLG

Zach Rynes | CLG Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @ChainLinkGod

Zach Rynes | CLG Profile picture
Jun 7
The reason why @Coinbase Commerce doesn’t support self-custody $BTC baselayer payments is simple

UXTO chains like Bitcoin lack the programmability necessary to meet the requirements of most merchants

1) Merchants don’t want to be exposed to crypto price volatility risk

Ethereum and EVM chains solve this by being able to programmatically covert whatever crypto token is used as payment into a stablecoin like $USDC, when can then be optionally redeemed for $USD and sent to the merchant’s bank account

UXTO-based chains like $BTC lack the native programmability to convert their native asset into stablecoins onchain, so a custodial solution is required

2) Merchants don’t want to deal with manual burden of resolving incorrect payments (eg: underpayment)

Ethereum and EVM chains solve this by being to programmatically reject payment with incorrect payment amounts

This is literally a single line of code in a smart contract (require payment amount == invoice amount, otherwise revert)

UXTO-based chains like $BTC lack the native programmability to revert payments based on amount, so a custodial solution is required

—

Net result is that Coinbase made a calculated decision that the overhead/friction/cost of supporting baselayer $BTC payments was simply not worth it

Payment processing for self-custodial wallets is challenging, it’s not nearly as a simple as just giving a customer an address to pay into, they will fuck it up, it needs to be idiot-proofed

Can lightning fix this for $BTC? Possibility, but there’s a great deal of friction today in terms of managing inbound/outbound liquidity and channel rebalancing

Lightning also means you can support one additional asset, $BTC, while integrating with EVM chains means you can accept hundreds to thousands of crypto-assets (including stablecoins and $WBTC) and get paid directly into your bank account programmatically if you desire

That said, I hope Lightning improves enough to make it a realistic option for merchants to leverage
Additional context/commentary from the Coinbase Commerce team themselves about UXTO payment support:
@udiWertheimer had a great thread documenting the pain that @TaprootWizards went through with accepting $BTC baselayer payments:
Read 6 tweets
Zach Rynes | CLG Profile picture
Jan 1
Happy new year frens, welcome to 2024 🙌

Obligatory thread of some of my unfiltered thoughts and predictions regarding the major crypto trends this year

🧵 Image
• Bitcoin as a Dominant Asset Class

The catalysts for $BTC are clear; a dozen or so spot ETFs a week from approval, halving in April, multiple interest rate cuts, and fiat money printer brrrrr

Initial ETF inflows won’t be as massive as expected but will ramp up over the yearImage
Image
Image
Image
$BTC spot ETF Issuers will battle over management fees (sub 40bps fees), advertising will be strong (Super Bowl ads), and a lawsuit with the SEC over allowing in-kind issuance/redemption vs just cash

$ETH ETF will be next and then no ETFs for other tokens this year (2025 tho…)


Image
Image
Image
Image
Read 18 tweets
Zach Rynes | CLG Profile picture
Dec 18, 2023
A liquid restaking token that is backed by liquid staking tokens deposited in a restaking protocol which rehypothecates staked ETH

This is getting pretty deep, can we add another layer of liquidity and risk here? I don’t think we have enough
Note that there’s four+ layers of risk

1. Risk of staking ETH
2. Risk of liquid staking ETH
3. Risk of restaking ETH
4. Risk of liquid restaking ETH

You’re not only exposed to slashing and smart contract bug risk at each tier, but risks that only appear when composing protocols
Hell, why not take this further

Deposit your liquid restaking token into an AMM DEX, get an LP token back in return, and then deposit that LP token into a money market as collateral so you can borrow even more ETH to liquid restake

Adds 3 more layers of risk to the process
Read 5 tweets
Zach Rynes | CLG Profile picture
Nov 25, 2023
"Chainlink is just an oracle"

What started as a single ETH/USD Price Feed has since expanded into a fully-featured platform of services

There are now 1,000+ #Chainlink oracle networks that span external data, offchain compute, and cross-chain interoperability

A thread 🧵 Image
Oracles connect blockchains to external systems, enabling them to execute based on inputs/outputs from the real world

Before chainlink, oracles were highly centralized and insecure, with frequent oracle attacks resulting in exploits and loss of funds

garbage in -> garbage out Image
Chainlink solved this problem through the creation of decentralized oracle networks (DONs), backed by strong cryptoeconomic incentives and high quality node operators

Chainlink isn't a monolithic network, but rather a platform for creating oracle networks
blog.chain.link/how-chainlink-…

Image
Image
Read 24 tweets
Zach Rynes | CLG Profile picture
Nov 3, 2023
Arta TechFin, a Hong Kong-based financial services institution, is collaborating with #Chainlink Labs on the creation of regulated, fiat-based, cross-chain tokenized funds 👀

Chainlink CCIP will enable the transfer of fund tokens across public and private chains, increasing liquidity through cross-chain atomic settlement

Chainlink Data Feeds will provide transparent data for onchain Net Asset Value (NAV) reporting, making the data instantly available to all market participants

Chainlink Proof of Reserve will verify that the onchain fund tokens are backed and secured by designated assets under traditional and crypto custodians

The future is on
Image
Arta TechFin (HKSE: 0279) is a hybrid financial (HyFi) platform bridging traditional finance with blockchain-based financial system via technology innovations

Its regulated one-stop solution enables corporates, financial institutions, and family offices to access traditional assets and digital assets

Arta TechFin, through its various subsidiaries, are licensed under Hong Kong Securities and Futures Commission

Other licenses include Hong Kong Stock Exchange participant, insurance brokerage license, trustee license and money lending license in Hong Kong as well as Eurex and Chicago Mercantile Exchange participants
@SergeyNazarov on the collaboration at @HongKongFinTech Week:
Read 5 tweets
Zach Rynes | CLG Profile picture
Sep 22, 2023
$LINK is the true institutional coin

And not because of flimsy handwavey narratives or vague hyped up “connections”

But because @Chainlink has been working directly with the largest financial institutions globally on accelerating tokenized asset adoption via #CCIP

🧵 Image
The Society for Worldwide Interbank Financial Telecommunications (@swiftcommunity) on using CCIP for interoperability



Swift is used by 11,500+ financial institutions globally for inter-bank messaging, facilitating international money/security transfers swift.com/news-events/pr…



Image
Image
Image
Image
Participants in the Swift blockchain interoperability collaboration included 12+ of the largest financial institutions and market infrastructure providers in the world including:

DTCC
Euroclear
Clearstream
BNY Mellon
BNP Paribas
Citi
ANZ
Lloyds
SDX

More on the participants:
Read 7 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

Send Email!

:(