Starbucks☕Do Kwon🚩& ETH Merge⏩

Claim your NFT ↙️🎁

Welcome to the #27th edition of DeFi Fridays!

Access all the previous editions here.

101 today:

• Major happenings in the ecosystem: Ethereum merge is complete, Starbucks is launching NFT-based rewards, and Do Kwon is in trouble!

• A topic we explain: The different narratives around the Ethereum merge.

• This week's good reads: Regulatory moves covered by a16z.

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A Topic we explain:

The Ethereum merge has got everyone talking about it. And with everyone in the crypto community talking about the merge, many narratives are floating around. 

Some of the most popular ones are:

1. The new Ethereum helps the environment. The Ethereum PoS move means that the blockchain now uses 99.95% less energy than before. The result? Global energy consumption will drop by 0.2%. Not a lot, but it's a step towards sustainability.

   vitalik.eth @VitalikButerin

   "The merge will reduce worldwide electricity consumption by 0.2%" - @drakefjustin

2. A new ETH PoW fork: The mining community of Ethereum might make a hard fork and create a new project similar to Ethereum Classic. This new blockchain will continue to use the PoW consensus mechanism.

   Bitcoin News @BTCTN

   “ETHW mainnet will happen within 24 hours after #TheMerge,” the #ETHW team’s core developers wrote on Monday.

   

   zpr.ioTeam Behind Ethereum’s PoW Fork Aims to Launch Network 24 Hours After The Merge – Altcoins Bitcoin News“ETHW mainnet will happen within 24 hours after The Merge,” the ETHW team’s core developers wrote on Monday.

3. Then there are the PoS deterrents: Some community members on crypto Twitter simply dislike the PoS system. So what's their reaction? 'PoS is bad', and 'We should go back to PoW'.

   PlanB @100trillionUSD

   Ethereum forked from PoW (energy) to PoS (trust/politics/fiat) today. Next: some idiot will fork #bitcoin from PoW to PoS .. because climate 🤡

4. And then there are the celebrators. The wider Ethereum community is happy that the long-awaited merge is finally here. The merge sets the groundwork for further progress like the 'purge', 'verge' and 'splurge'.

   Yuga Labs @yugalabs

   Congratulations to the entire Ethereum team on a successful merge. This is a historic moment for us all and a big step in scaling Ethereum to it's first billion users. We hope you're celebrating this morning, we sure are!🍾cc: @VitalikButerin, @TimBeiko, the @ethereum foundation.

Well begun is half done! No matter what the narrative is, progress is being made. So congrats to the Ethereum community!

Major News in the Ecosystem:

🔰The Ethereum blockchain’s long-awaited merge is finally complete!

vitalik.eth @VitalikButerin

And we finalized! Happy merge all. This is a big moment for the Ethereum ecosystem. Everyone who helped make the merge happen should feel very proud today.

🔰Starbucks launches its Web3-based rewards program

Blockworks @Blockworks_

stories.starbucks.comStarbucks Brewing Revolutionary Web3 Experience for its Starbucks Rewards MembersNew Starbucks Odyssey experience will offer members the ability to earn and buy digital collectible stamps (NFTs) that will unlock access to new, immersive coffee experiences.

⚠South Korean agencies issue arrest warrant against Terra Luna’s founder Do Kwon

CoinDesk @CoinDesk

UPDATE: A South Korean court has issued an arrest warrant against the co-founder of Terra, Do Kwon , according to the Financial Crimes Unit of the Supreme Prosecutors Office. By @OKnightCrypto, @parikshitm899 and Felix Im

trib.alSouth Korean Court Issues Arrest Warrant for Terra Co-Founder Do KwonThe warrant also includes five others, according to a report.

💎 Wait for Brew Findouts💎

In this edition - we’ve found a few not-so-hidden gem for our readers. 💎

Investrly

Let’s be honest, markets make a lot of noise. And the web3 market is no less. Scrolling away on #cryptotwitter will make sure you know that. And so, we have brought you a source that separates insights from the noise. 

Investrly is a newsletter publication on substack that empowers its readers to invest early in Web3 and learn & earn through their newsletter & podcast.

Find their recent edition here.

More Good Reads:

✍️beyond The Merge; on-chain ceremonies; regulatory moves by a16z:

beyond The Merge; on-chain ceremonies; regulatory moves

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That’s it for today, folks. See ya next Friday. 🧢

Disclaimer: Nothing included in DeFi Fridays should be taken as financial advice.