The Coinweb Monthly Spin - Sixth Edition

Hello Coinwebbers! What an eventful month it has been, not only for the crypto industry – but also for the entire global financial ecosystem as well. “March Madness” saw FED Chairman Jerome Powell continue raising interest rates faster than ever before in history in a determined effort to subdue inflation, which directly resulted in the collapse of 5 major banks – three of which were crypto-focused: Silvergate, Silicon Valley Bank, and Signature Bank. The other two collapses were First Republic Bancorp and Credit Suisse, as mark-to-market assets were misreported and lower than adequate risk management resulted in multiple bank runs and bailouts required in order to return customer deposits.

It was a watershed moment in the TradFi world, nearing the failures of 2008 that consequently birthed the creation of Bitcoin and decentralized money in an indisputable effort to avoid repeating the same mistakes. This time, under the guise of the Bank Term Funding Program – a potential total of $4.4T supply of USD was injected into the market, in effect distributing the cost among everyone in the form of devaluation of the USD and staving off the complete collapse of the Dollar for an indefinite amount of time (BTFP is 1-year, but subject to be extended at the discretion of the US government). Furthermore, it would seem apparent that US regulatory agencies such as the SEC and CFTC, DOJ and the FBI had declared war against the crypto space, issuing indictments vis a vis “regulation by enforcement” to the biggest players in the industry, including Paxos (BUSD), Kraken, Coinbase and Binance. Will this play out in the interests of the US? Unlikely, as crypto companies hail to more welcoming shores – one of which is Hong Kong. Terra Luna founder and CEO Do Kwon was arrested in Montenegro, facing multiple counts of charges from the US and South Korea – largely credited for the first major collapse in crypto, Q2 of 2022. But it’s not all gloom and doom, as we also saw some very positive events happen including the launch of Arbitrum’s L2 token, the announcement of Coinbase’s L2 chain “Base,” and the explosion of Zero-Knowledge technology onto the scene from three different protocols just in time to round out the month.

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 find The Daily Spin, every day 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 - March

Events:

Coinweb’s Layer 2 marks 4 million transactions milestone

Block Hash of the 4,000,000th Coinweb transaction - ea3e23779da653c3cc3285e0f1bfe6f66bbc02b1ff2a523e02a57b843c865e82

Coinweb Partners With Ceffu for Institutional Crypto Custody

Coinweb has partnered with CeffuGlobal (formerly known as Binance Custody), an institutional-grade custody platform, to provide optimum security and peace of mind for institution's storage of $CWEB.

Coinweb’s Fireside Chat Series, digitALL: Innovation and Technology for Gender Equality

Some pictures of the digitALL: Innovation And Technology For Gender Equality event on March 16 that Coinweb co-hosted with TCIOA & CryptopiaOFCL, featuring panelists from GoogleAds, SCB10X, Sasin Graduate School of Thailand, Huneety, and KogoPay.

KuCoin Labs Project Mentorship with Toby Gilbert of Coinweb “Demo Day” during Paris Blockchain Week

The most influential gathering of blockchain and Web3, 20-24 March 2023 at the Carrousel du LOUVRE.

Content Releases:

Comparing Coinweb's layer 2 cross-chain platform with other projects; both on a protocol and product level:

$CWEB and Coinweb: Revolutionising Decentralised Applications | Case Study of OnRamp and Blockfort

Learn how the Coinweb protocol and our native $CWEB token are revolutionising the world of #dApps! A case study of two live applications and the advantages of having built them on Coinweb.

“A Thread on Refereed Delegation of Computation” by Kawin on Twitter

Coinweb to Bring Cross-chain Tokenisation to Layer 2 (Cryptoslate)

“A Thread on L2 Scalability, Network Efficiency and Throughput/TPS” by Anton on Twitter

Community Growth:

China:

• Active Users 129 (6.07%) New Users 199 Avg. DAU 13 Avg. Daily Msgs.

• 412 Avg. Hourly Msgs. 30 Messages 11,772

• Baidu Search "Coinweb - China Regional": 73.8k

• Weibo Official Total Views March: 103.5k

• Weekly Events with Blockchain Communities in Beijing

• Weekly Quizzes & Competition: 30 winners

• Weekly One Hour Mini-AMA: 68 participants

• In Process: Coinweb Technology Glossary: A Collection of Chinese Vocabulary Terms

• In Process: The Coinweb Community Q&A Handbook (English/Chinese)

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

Vietnam:

• Active users 98 (5.63%) New users 58 Avg. DAU 10 Avg. daily msgs. 160

• Avg. hourly msgs. 7 Messages 4975

• Active Member of March (10 members)

• Quiz Game - 10 winners - Learn about Coinweb Labs - Read Tweets and do Quiz

  • Tweet 1: https://twitter.com/Kelly_2511/status/1637764385308393474

  • Tweet 2: https://twitter.com/Kelly_2511/status/1638132978479173633

  • Total: 4500 Views, 232 Likes, 281 Retweet

Indonesia

• Active users 108 (3.84%) New users 56 Avg. DAU 18 Avg. daily msgs. 439

• Avg. hourly msgs. 18 Messages 14497

• Google search trend (Coinweb - Indonesia regional) = 798 searches

• Weekly Quiz

• Monthly Game Session with Community

• SHAME (Share me anything) 3

• Monthly Member of The Month (10 member)

Coinweb General Statistics and Milestones:

Coinweb has completed over 4.04M transactions

230M CWEB Tokens Staked

$327.2M Total Coinweb Stable Tokens Issued

Coinweb Technology Updates - March

Dev-team General Stats:

• merge requests: 177 created, 157 merged

• issues: 107 created, 125 closed

Front-end:

• UI fixes, stability & compatibility improvements for the Coinweb Wallet

• integrated e2e tests for LinkMint & Explorer

• improved blacklisting functionality for the Whitelister service

• Kujira chain integrated into Explorer (testing status)

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

Back-end:

# Core

• heavy refactoring of Shuffler with its elements incl. shuffled blocks, jump transactions and delay logic

• implemented transaction monitor core logic

• all errors are unified and standardized now

• added Kujira parser & testing writer functionality

• L1 writer refactored to make gas fees smartly configurable

• revisited and improved services responsible for GraphQL API endpoints

• various fixes and stability improvements

# Infrastructure

• set up Kujira node into Coinweb k8s infrastructure

• various optimizations for k8s resources usage

# Security, Scalability, & Performance

• substantial optimizations to L2 Computer and L1 Parser performance

• data saving strategy is refactored with heavy parallelization and addition of metrics to track DB calls overhead

• staking aggregation errors are fixed & respective tests are extended

• added further optimisations to genesis state

# Wallet & Tokenization Platform

• added transaction monitor to cstd-wallet

• optimized various withdrawals strategies

• added broadcaster wallet validation mechanism

• introduced token/account blacklisting functionality

• improved bonding curve mechanics

• refactored ui-commands to be vector-tested

• improved user creation mechanics and parallelization of such processes

• tests added for withdrawals, validation, blacklisting, bonding curve & ui-commands

• various fixes and stability improvements for cstd-wallet and transactions handling logic

On The Radar

Ethereum Shanghai-Capella Upgrade, Apr 12 (On-chain)
Hong Kong Web3 Festival, Apr 12-15 (Wan Chai, Hong Kong)
Consensus 2023, Apr 26-28 (Austin, Texas)

Web3 Weekend, May 8-13 (Jakarta)

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

Bitcoin Halving Approaches: Less Than 400 Days Until Block Reward Subsidy Is Cut in Half

Just 10.3% of Ethereum’s total supply is sitting on centralized exchanges (ATL)

Adoption | Regulation

Due to SEC Inaction, Registration is Not a Viable Path for Crypto Projects

The Evidence for Operation Choke Point 2.0, With Nic Carter

Education

XRP Ledger: More than Ripples

Hashflow: Certainty in Execution

Governor Note: The Launch of Arbitrum Governance

The State of Crypto Feat. J. Christopher Giancarlo, Former Chairman of the CFTC (22mins)

Thought Leadership

China and France complete first LNG trade using Chinese Yuan, ending reliance on US Dollar for energy trades

The State of DAO Funding: An In-Depth Report by Messari

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 below.

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