The Fei/Tribe DAO Drama, Crypto Winter ❄️ to stay longer acc to this CEO & ERC-20 what?

Say it one more time: The Merge is here 🤝 (finally)

Welcome to the #24th edition of DeFi Fridays!

101 today:

• Major happenings in the ecosystem — The Fei/Tribe Drama, Ethereum merge date confirmed again, and something we heard about on Crypto Winter.

• A topic we explain: What are the different Ethereum token standards?

• This week's good reads: Digital Signatures, Blockchain security & Merge overhype.

A Topic we explain:

Different ERC token standards 

With Ethereum surging in popularity again with the merge coming soon, now is the best time to look at the tech of Ethereum. Ethereum has different 'standards' or rulesets that govern the different aspects of the Ethereum ecosystem.

Let's take a look at a few of them:

ERC20: ERC20 lays down the rules for creating and issuing smart contracts on the Ethereum blockchain. Under ERC-20, anyone can create and publish a smart contract on Ethereum. Projects are then built around these smart contracts.

Lots of Initial Coin Offerings were made using this standard. Tons of projects like MakerDAO's MKR and Brave's BAT are based on this standard.

ERC721: ERC721 is the NFT standard. It means that the NFTs are built using the Ethereum 721 standard. In the architecture of this standard, each token's TokenID is set separately. This little tweak makes sure each token is unique and not interchangeable.

ERC1155: ERC1155 is the holy grail of Ethereum standards. The main problem with ERC721 is the need to make a separate contract for each token published under it. In ERC1155, a single contract can handle multiple tokens. 

The best part is that the ERC1155 standard is used for fungible tokens too. Easier NFT and fungible token creation!

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Major News in the Ecosystem:

⚠The Fei/Tribe DAO Drama: New vote & no repayment

Sam Kazemian (¤, ¤) @samkazemian

The FEI/TRIBE DAO had 100s of millions USD in excess PCV at this time & held a governance vote where TRIBE holders voted overwhelmingly to reimburse all victims of the hack. They were applauded for this exemplary & ethical move. I sang their graces.

snapshot.orgSnapshot

🔰Ethereum Mainnet merge scheduled for 11:34:47am UTC on Sept 6, 2022

Joseph Schweitzer | 🐼 @JBSchweitzer

This is it: The Merge is coming. UPGRADE 👏YOUR 👏 CLIENTS! blog.ethereum.org/2022/08/24/mai… + More👇

blog.ethereum.orgMainnet Merge Announcement | Ethereum Foundation Blog

⚠Coinbase’s CEO Brian Armstrong believes the crypto winter will go on for 12-18 months:

TechCheck @CNBCTechCheck

Hope you brought a jacket ❄️️❄️️❄️️ @coinbase CEO @brian_armstrong sat down with CNBC's @Kr00ney for an exclusive interview, saying he's hoping the crypto winter lasts 12-18 months but bracing for the downturn to extend even longer.

🔰DeFiLlama’s new update will allow its users to look at the different liquidation data of assets in DeFi protocols:

strobie reeeee 🍓 @0xstrobe

Excited to share with you what I've been working on at @DefiLlama in the past weeks - the DeFi Liquidation Levels dashboard! 💦💦💦 👉 defillama.com/liquidations/e… a thread 🧵

💎 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:

✍️Delphi Digital’s weekly reading list with tons of resources:

Delphi Digital @Delphi_Digital

Weekend reading list 📚 Our research team has been hard at work over the past week and we compiled a weekend reading list for your convenience. Check out what has been published this week. ⬇️

✍️On digital signatures in the Ethereum ecosystem:

0xrusowsky | Ω ,🩸| @0xRusowsky

After a busy week working on my course project for @Artemis_HQ, I have finally managed to prioritize the weekly article. This week we cover digital signatures!

journal0xrusowsky.substack.comDigital Signatures: ecrecoverArtemis Week-6

✍️The true security model of blockchains:

ChainLinkGod.eth 🌪 @ChainLinkGod

1/ In a guest post on the @chainlink blog, I explore the true security model of blockchains With a healthy network of self-verifying full nodes, block producers can be held accountable for their work In this 🧵, I’ll break down the key takeaways blog.chain.link/blockchain-tru…

blog.chain.linkThe Trust Model of Blockchains - Chainlink BlogBlockchains are a radical new computing model, but their trust model is often misunderstood. This article aims to explore the crucial role of full nodes.

✍️Is the Ethereum merge overhyped?

Is the Merge Overhyped?

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

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