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Aug 9 7 tweets 5 min read
🌌 The Crypto-Mixing Service #TornadoCash $TORN Blacklisted by US Treasury #OFAC

A short thread to catch up on the latest happenings of the above event

👇👇 Image
About Tornado Cash

• Tornado Cash is a protocol that makes transactions anonymous on the @ethereum network

, and it is this feature that makes Tornado Cash a “favorite” tool in “hacks” to erase traces and withdraw large amounts of money. Image
@ethereum The reason for this action

• The US Gov believes that Tornado Cash is accused of helping to launder up to 7 billion USD of dirty money.

, including cryptocurrencies from hacker organizations such as Lazarus Group and the recent DeFi attacks such as Horizon, and Nomad Bridge. Image
@ethereum ...

-> Therefore, the sanction now prohibits US investors from using the coin-mixing service’s chain in illegal activity.
@ethereum What happened after the above announcement

• More than 40 related Tornado Cash crypto addresses are on the Office of Foreign Assets Controls (OFAC) special sanctions list.

• Circle (USDC) Blocks Wallets Linked to Tornado Cash After US Sanctions.

home.treasury.gov/policy-issues/… ImageImage
@ethereum More Updates from Tornado Cash

• GitHub of Founder Tornado is locked
• The website is currently not working
• $TORN price down 30% and no recovery yet. ImageImage
@ethereum Conclusion

🙄 According to the US side, the country's Ministry of Finance will punish crypto mixer Tornado Cash for helping to launder money.

But Tornado Cash is just a smart contract, how can it be punished? 😂

More and more regulations lately.. what are your thoughts?

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More from @solana_daily

Aug 9
⚡️⚡️ BREAKING - STEPN launched $GMT Earning Plans

Read the rules for GMT Earning here 👇
stepnofficial.medium.com/stepn-launches…

#MoveToEarn @Stepnofficial Image
@Stepnofficial ✨ Some highlights you need to know about the $GMT earning event 🧵,

#Solana #MoveToEarn
@Stepnofficial StepN's goals

• The loyal users should be rewarded as they stay with the project for the long term.

-> Offering its users new types of gameplay they could enjoy.

-> Serving other features that could better connect them.
Read 6 tweets
Jan 28
IMPACT OF SABER LP TOKEN PROPOSAL ON SOLEND   
 
Lately, the proposal of the addition of the @Saber_HQ  LP token to be an asset on @solendprotocol has been executed. Check the thread below to see the impact of this addition.
 
#Solanaszn #impact $SLND $SBR Image
@Saber_HQ @solendprotocol 1. @solendprotocol is by far the largest lend-borrow market on Solana, with over $1B of user deposits.
However, over $234M of this is in USDC or USDT ~ ¼ total deposit. If this were in Saber, it would earn both swap fees and contribute to TVL of both protocols

#Solanaszn #impact
@Saber_HQ @solendprotocol 2. So, based on this, there was a proposal of 85,000 SBR of incentives for borrowing USDC-USDT LP on @solendprotocol

#Solanaszn #impact
Read 10 tweets
Jan 7
SOLANA MONEY ATTRACTION ?

The @solana ecosystem is now experiencing a major decline in comparison with other large ecosystem. So, does Solana ecosystem still attract the money flow?
Check this thread below.

#Solanaszn #money #attraction Image
@solana 1. Price & TVL correlation
Each time the $SOL price witnessed a major decline, the same happened with the TVL of the ecosystem. However, until now, the $SOL price is now creating the lower low since Dec 4th crash, but the TVL of the ecosystem...

#Solanaszn #money #attraction Image
@solana 2. Price & TVL correlation
... still stabilize above $10B. Another way of understanding, I believe the money flow is more appeared in the Solana ecosystem more than the native token itself. Now let's find out where exactly the money stay?

#Solanaszn #money #attraction
Read 12 tweets
Dec 3, 2021
WHAT IS WEB3 AND WHY WEB3 MATTERS?

1.The world has experienced the evolution of web from web 1.0 to web 3.0 now since the dawn of internet.
So what is actually web3.0 and why does it matter?

#Solanaszn #web3
2. Let's start with the evolution of web.
The web 1.0 start from the first of Internet in 1994 to 2004.
The characteristics of web 1.0 are Centralized, Less-Interactivity and Desktop-based.

#Solanaszn #web3
3. Let's start with the evolution of web.
The web 1.0 started from the first of Internet in 1994 to 2004.
The characteristics of web 1.0 are Centralized, Less-Interactivity and Desktop-based.

#Solanaszn #web3
Read 10 tweets
Dec 3, 2021
THE NEXT LARGEST LENDING AND BORROWING PROJECTS ON #SOLANA

1. The largest lending and borrowing project on Solana now is @solendprotocol . However, as history taught us, nothing lasts forever (expect BTC). Shall @ApricotFinance be able to overthrow solend?

#Solanaszn #compare
@solendprotocol @ApricotFinance 2. In the overall section, the statistics of both projects showed the same/ relatively small differences between two projects, except for the TVL.
The TVL of solend outperforms the TVL of apricot up to 255%. What a differences.

#Solanaszn #compare
@solendprotocol @ApricotFinance 3. On the L&B characteristics, the total supply and total borrow of @ApricotFinance cannot compare with the Solend. This phenomenon may happen due to the time of incentive programs between two projects.

#Solanaszn #compare
Read 9 tweets
Dec 1, 2021
UNIQUE CHARACTERISTIC OF DEX IN #SOLANA

1. The Dex sector of @solana is one of the strongest sectors in the market. Let’s take a look at the unique characteristics and the impact along with it.
@RaydiumProtocol @ProjectSerum @AtrixProtocol @Saber_HQ @orca_so

#Solanaszn #unique Image
@solana @RaydiumProtocol @ProjectSerum @AtrixProtocol @Saber_HQ @orca_so 2. Starting with @RaydiumProtocol - the largest DEX on Solana. Besides their ecosystem with staking, launchpad, and NFT, they also have many unique characteristics to stand out. Raydium is the project connected with @wormholecryptoto bring along the asset from Ethereum to Solana.
@solana @RaydiumProtocol @ProjectSerum @AtrixProtocol @Saber_HQ @orca_so 3. The number of transferred assets is enormous, such as: UNI, SHIB, AXS, DYDX, ..
Moreover, they integrated Serum with SRM as rewards for the fusion pool. With those characteristics, Raydium ranked 1st in the top TVL of Solana and in the top DEX of the market in trading volume.
Read 11 tweets

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