The Coinweb Monthly Spin - Seventh Edition

Hello Coinwebbers! In this edition of the Monthly Spin, we are announcing the depreciation of The Daily Spin newsletter – into a weekly version, which will begin publishing on the 8th of May, 2023. So for all of those who have been following our Daily Newsletter column, whether by Reddit, Mirror.xyz, or any other channel… I would like to sincerely thank you all for the support and kind words of encouragement over the months. Barring weekends and holidays, we have managed to publish around 250 editions over the last year – and it has been my pleasure and hope that it has created some value for everyone involved. You guys know where to find me!

So April! Has been a month of steady gains in the crypto asset sector, despite a flailing macroeconomic environment and ever-concerning regulatory environment concerns in both the US and around the world. Bank failures have continued to make landfall due to interest rate shock, as FED Chair Jerome Powell takes the steepest measures to attempt to curb the largest rise in inflation of our generation, meanwhile coming up with creative solutions to keep control of the FED Balance Sheet. The EU has been under tremendous pressure from the issues that have been taking center stage; whether from government wages, retirement and pension fund management, to energy crises and corruption. But one very positive thing has come out of the EU – the approval of the MiCA regulatory framework for digital assets promises to be a beacon of standards that the rest of the world should look to follow. Conversely, SEC Chairman Gary Gensler has issued enforcement actions on every major crypto player Stateside while maintaining the lack of clarity needed to regulate the industry or have companies come into compliance – prompting an embarrassing intervention from US Congress and ongoing migration of the biggest innovators out of the jurisdiction for good. Meanwhile, the Asian central banks have been pursuing the opposite policy of expansion vs. tightening, as China DGAF and the BoJ remains geared for more growth in their financial markets and liquidity. And to sum it all up, Total Crypto Market Capitalization has been steadily growing past $1.1T dollars, BTC and ETH have hit their local highs, and the Altcoin cycle has spun around faster than a bottle at your typical unsupervised high-school party.

Two more things that must be mentioned in any newsletter format of these days: The explosion of AI into the public sphere, its ultra-fast and independent recursive iterations compounding the tech’s scope and impact faster than anything we’ve ever seen in history. And the second being its direct impact on the capital markets, private equity and venture capital allocations. The banks are really, really fucked. Been a long time coming, too. But as CZ points out, that is not a prerequisite for the success of cryptocurrencies. So without further ado, let’s get into our review of happenings for the first month of Q2!

The Monthly Spin is the newsletter dedicated to our progress as a fast-moving, exponentially-growing project that is committed to being high-touch with our community and providing value in as many ways as we can. So, every month you can find not only our progress, but also general value in the form of blockchain affairs, adoption, education, as well as a thought leadership section for your own personal exploration. You can no longer find The Daily Spin, but now The Weekly Spin, every Monday on our subreddit for curated news and opinions from the world of Blockchain, designed to keep you informed of the most trending, in-the-know, and controversial topics. We strive to keep you informed, connected, curious, inspired, and of course… clinically sane in these crazy yet exciting times that we share today.

Kawin Rungsimuntakul
Editor of The Daily Spin

Coinweb Community Updates - April

Events:

“An Evening with the Bangkok Community” at The Soho House marks Coinweb’s 1-Year Anniversary of Organising “The Best Events in the Crypto Space” feat. KuCoin Labs, Elevate Ventures, and Gangster All-stars, April 26th

Content Releases:

Coinweb Publishes Token Reserve Allocation On-chain Data

Community Activities:

China:

• Baidu Search "Coinweb - China Regional": 40.8k

• Weibo Official Total Views March: 23.1k

• Weekly Events with Blockchain Communities(Online)

• Weekly One Hour Mini-AMA: 46 participants

• In Process: Engage with Executives and Decision-Makers from Firms and Venture Capitals

• In Process: Coinweb Chinese Official Channel (Verified)

Indonesia:

• Active users 117 (4.44%)

• New users 98 Avg. DAU 17 Avg.

• Daily msgs. 389 Avg. hourly msgs. 16 Messages 12,074 Total

• Eid-Mubarak Airdrop Quests (Crew3) 400$ CWEB (60 comments, 79 retweet, 120 likes and 4971 Viewers)

Coinweb General Statistics and Milestones:

Coinweb Protocol has 220K Unique Users

Coinweb has completed over 4.18M transactions

239M CWEB Tokens Staked

$345M Total Coinweb Stable Tokens Issued

Coinweb Technology Updates - April

Dev-team General Stats:

• Merge requests: 181 created, 129 merged

• Issues: 124 created, 106 closed

Front-end:

• Explorer search functionality has been extended with ability to show detailed information about legacy CWEB transactions

• Introduced claims inspector as a part of the Explorer service

• Improved UI interaction with tokens and overall UX for sending/receiving/modifying virtual assets

• More UI fixes and stability improvements for mobile versions of the Wallet, DeconX (cryptocurrency exchange service) and LinkMint (advanced tokenization platform)

Back-end:

# Core

• Shuffler, Jump transaction and Gas Fee Abstraction logic was adjusted even further

• Finished separation of genesis state for production, demo and dev environments

• Math support module was refactored to better address transaction processing specifics in L2 & synchronization of distributed elements

• Code-structure of Core was optimized by removing unneeded modules

• Improved logic for rewards accumulation by different parts of the system

• Implemented logic to handle L1/L2 resyncs more efficiently

• Improved transaction signing procedure

• Various fixes and stability improvements

# Infrastructure

• @Rose assistant bot is modified to monitor liveness/readiness of wallet operations using L1/L2 shards in different environments (development, production) and notify devs at once about any malfunctioning

• Coinweb-writer smart-contract template is developed for Cosmos-alike chains (Tendermint)

• Introduced snapshotting as an additional method to back-up and transfer L2 state

• Further refactoring of CI/CD pipelines to achieve better deployment sustainability and speed

• Various optimizations for k8s (Kubernetes) resources usage

# Security, Scalability, & Performance

• Shuffler with its elements is being optimized for performance and avoidance of racing issues, more testing to its elements is added

• Availability and security of Broadcaster was additionally strengthened by proxy/intermediary adjustments

• Added more integration tests for wallets (app, cstdl, broadcaster)

• Liveness/readiness checks for staking elements were refactored

# Wallet & Tokenization Platform

• Introduced wallet-lib wrapper based on WebView

• Added more robustness checks for cstdl-wallet and wallet for the phone app, improved their self-recovery

• Tokens Blacklisting Service was optimized by adding more criteria to classify virtual assets

• Additional ui-command vector-tests added

• Extended information about fees that are returned as a result of sendCweb/sendToken cstd-wallet GraphQL API calls

On The Radar

FOMC Meeting, May 2-3 (Washington DC)
Web3 Weekend, May 8-13 (Jakarta)
Consumer CPI Index Print, May 10 (Washington DC)
Bitcoin Miami Conference, May 18-20 (Miami)

Non Fungible Conference, Jun 7-9 (Lisbon)
AIBC Asia, Jul 19-22 (Manila)

TOKEN2049, Sep 13-14 (Singapore)*

Blockchain Events curated by CryptoNomad
https://docs.google.com/spreadsheets/d/1KtyFTb_W282bQ1xoVA5rlTwTDz3QfhswWIVpXhpbQIc/edit

_{* Anticipated events that Coinweb team will attend}

Crypto-Industry Headlines

Adoption | Regulation

Education

Thought Leadership

This newsletter distributed by Coinweb does not represent its views or endorsements of any products or services found herein. This content is intended for educational and entertainment purposes, and does not constitute financial advice of any kind or nature. When making investments please do your own research and invest responsibly, as doing so may result in the partial or complete loss of funds invested. Beware of scams and fraudulent actions, and always check your sources when making financial decisions or transactions. Coinweb is not a security, and will never ask you for your private information such as your password or seed phrases in all cases. For more information, please refer to our website at http://www.coinweb.io or feel free to contact us through any of our social media channels found in the QR code presented here:

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