⁉️ Wormhole Airdrop

In this edition, we explore Compute DePin, the BlockFi settlement, Ethereum at $4K and more.

💥  Cutting Edge with Shoal Research

In collaboration with Shoal Research, this week’s special feature will dive into Compute DePin.

Key Words

Compute: Processing power. 

DePIN: Blockchain protocols that build, maintain and operate physical hardware infrastructure. 

GPU: Graphics processing units. 

What is it? Compute DePin is a category of crypto projects that allows real world access to GPU and computational power. This type of power is typically used by AI training models. 

What does it do? Compute DePin allows users who need significant processing power to access decentralised computational power without having to run hardware themselves or pay for expensive services. 

Why is it interesting? Artificial intelligence models require significant computational power. As AI continues to grow the demand for GPU power will grow as well, making the Compute DePin very interesting.

Projects and Landscape

1. Render
2. IONET
3. Akash
4. Nosana

How to get involved? Get involved in the landscape by investing in projects like $NOS, $RNDR, $AKT. 

More Information

io.net on Twitter

io.net CEO Interview

Multicoin Capital

Check out Shoal Research’s Substack and Telegram channel.

⏰ Crypto News Recap

⚖️DAOs Granted Legal Status 

On March 7, a Wyoming governor approved framework allowing DAOs to be registered as legal entities. The document defines the role of smart contracts and describes the legal responsibilities of DAOs. This approval is significant as it allows DAOs to establish contracts, hold bank accounts and pay taxes. 

🤑BlockFi, FTX and Alameda Settlement 

BlockFi has come to a tentative agreement with FTX and Alameda Research. On March 6, a court filing outlined the terms of settlement between the companies, where BlockFi will receive $874 million. In addition to the settlement, FTX agreed to drop their lawsuit against BlockFi.  

📈Ethereum Hits $4000

On March 8th, Ethereum surpassed the $4,000 price mark. This milestone represents the highest price for Ethereum in 3 years. Ethereum’s all time high was $4,721 on December 28, 2021. The Ethereum price fell following the peak but now sits at $4,052.

🎊Wormhole Airdrop

Wormhole announced an airdrop which would distribute 6% of its tokens to eligible users. The token, W, is a cross-chain token that will be available through Solana and Ethereum. Wormhole released an eligibility tracker so that users can determine the amount of tokens they will receive. 

📚 N+1 Recommendations 

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This weeks recommendation: MONEY REIMAGINED: Are NFTs Sustainable Beyond the Hype?

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