Insights

X Removes Crypto Emojis

N+1 Analytics

30 Jul 2024 • 3 min read

In this edition, we explore AIOZ, the removal of crypto emojis on X, Mt. Gox repayments and more.

💥 Cutting Edge with Shoal Research

In collaboration with Shoal Research, this week’s edition will focus on MakerDAO.

What is it? MakerDAO is a decentralized autonomous organization built on the Ethereum blockchain. It governs the creation of Dai, a stablecoin pegged to the US dollar.

What does it do? Users can lock up their crypto assets to mint Dai, which can then be used like a fiat currency while maintaining decentralized stability. MakerDAO represents a significant advancement in DeFi by providing a stable cryptocurrency that can be used for lending, borrowing and trading without the volatility typically associated with cryptocurrencies.

Why is it interesting? The project combines decentralized governance, collateralized lending and a stablecoin mechanism. Its success could signal broader adoption of decentralized financial systems.

Who is its competitor? Aave, Compound, and Synthetix.

Check out Shoal Research’s Substack and Telegram channel.

💡 Coin Spotlight: The N+1 HODL

In this segment, we dive into the N+1 Hodl basket and discuss our altcoins.

Coin: AIOZ

Sector: AI

Narrative: AIOZ is a DePIN (Decentralized Physical Infrastructure Network) that uses blockchain to support a variety of offerings including Web3 AI, streaming and storage services.

Fundamentals: AIOZ uses one-click integration of dApps to support web3 builders across Ethereum and Cosmos networks. AIOZ features a global network of nodes that uses available computing resources to support their offerings.

Why do we hold: AIOZ is an innovative and comprehensive infrastructure for storage, streaming and computation all based in blockchain.

Performance: AIOZ is up 250% YTD (source: Binance).

⏰ Crypto News Recap

Keep up to date with the latest in crypto.

X Removes Emojis

Elon Musk’s X (formerly Twitter) recently removed cryptocurrency emojis from their hashtags. The emojis would pop up when users tweeted specific cryptocurrency hashtags. The function has existed for 4 years before being removed. Affected hashtags include Bitcoin, Cronos and BNB.

Mt. Gox Bitcoin Distributed

Mt. Gox creditors received payment as Kraken announced it completed their Bitcoin distribution last week. Mt. Gox was a crypto exchange that collapsed in 2014 and repayments have caused worry about the potential impact it may have on the price of Bitcoin. Despite concerns, the payments are almost halfway complete with Bitcoin holding relatively steady and even testing the $70K USD price point.

Vitalik Documentary

On July 23rd, a documentary featuring Vitalik was minted onchain. The documentary - titled Vitalik: An Ethereum Story - explores the last three years of Ethereum through the perspective of Vitalik. The world premier is currently set for September 18th.

📚 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: Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones Kindle Edition by James Clear