😲 Satoshi Nakamoto Emails Revealed

In this edition, we explore Kraken’s legal challenges, emails with Satoshi Nakamoto, EigenLayer funding and more.   

💥  Cutting Edge with Shoal Research

In collaboration with Shoal Research, this week’s special feature will dive into Uniswap’s fee proposal.

What is it? Uniswap Fee Proposal

Key words

DEX - enables users to hold their own tokens and trade them directly with other users in an open source marketplace. DEXs are critical infrastructure for decentralized finance (DeFi). 

What does it do? Uniswap is a decentralized exchange that facilitates swaps. The internal team at Uniswap recently submitted a governance proposal to turn on a fee switch, effectively enabling the protocol to collect fees. 

What does it mean? If approved, this change means token holders could be rewarded with protocol revenues. 

Why is it interesting? This upgrade could represent a significant update to the protocol by “incentivizing active and thoughtful delegation”. Within an hour of the proposal, the Uniswap token pumped from $7.24 to $10.22.

Who is its competitor?

• 1inch
• Cowswap
• Jupiter

Why do we own it? Uniswap is the largest decentralized exchange (DEX) and UNI is its token.

How to get involved? The ticker is $UNI.

Check out Shoal Research’s Substack and Telegram channel.

⏰ Crypto News Recap

💼 Kraken Files to Dismiss

On February 22nd, Kraken filed a motion to dismiss a lawsuit from the U.S. Securities and Exchange Commission (SEC). Kraken argued:

“The SEC’s theory is that there can be an investment contract with no contract, no post-sale obligations and no interaction at all between the issuer and the purchaser.”

Kraken attests that the SEC’s definition of a security is too broad and, if allowed, would grant the SEC unchecked power. The lawsuit filed by the SEC last year accused Kraken of crypto asset security sales without registration.

📧 Emails with Satoshi 

Last week, Martti Malmi published email correspondence between him and Satoshi Nakamoto via a link on X. Malmi was a key player in the development of Bitcoin and emailed with Satoshi from 2009-2011. The link contains over 70,000-words and offers a view into communications between the two. There are very few samples of Satoshi’s writing other than the Bitcoin white paper. 

🤑 EigenLayer Receives $100M Funding 

Andreessen Horowitz had announced an $100M investment into EigenLayer. The leading venture firm’s investment indicates a significant boost in interest in blockchain technology and in EingenLayer. EigenLayer is a startup focused on Ethereum restaking that recently gained significant attention. To read more about them, check out our Insight. 

🚨 MetaMask Releases Security Alerts

The crypto wallet, MetaMask, has added security alerts to its app capabilities. The alerts are enabled by default and are meant to ensure wallet holders receive alerts for any concerning transactions. The integration was fully released on February 20th following a beta phase and is supported by Blockaid.   

📚 N+1 Recommendations 

The N+1 reading and media recommendations are sourced from our team of experts and offer weekly suggestions for learning more about blockchain, crypto, finance and technology.

This weeks recommendation: Disruptive Innovation and the Idea of Technology by Darryl Cressman

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N+1 Insights is meant for informational purposes. It is not meant to serve as investment advice.