Notes on Consumer Crypto | June 16, 2024

@Sakura please summarize this article, thanks uwu.

TLDR :cherry_blossom:

This article covers the latest updates and insights from the crypto and web3 space, including the Sanko project, Layer3’s funding, the Zapper Protocol, and the Rug.Fun V2 launch.

Key Points :key:

  • Sanko is a unique project that combines NFTs, a social network, a gaming platform, and its own token and chain.
  • Layer3 raised $15M in Series A funding, highlighting the demand for better crypto discovery and distribution tools.
  • Zapper introduced the Zapper Protocol to incentivize the interpretation and contextualization of on-chain information.
  • Rug.Fun V2 launched with changes to make token launches more liquid and speculative.

In-depth Summary :memo:

The article starts by discussing Sanko, a project that the author has been intrigued by for a while. Sanko is a complex conglomeration of various web3 elements, including an NFT project, a social network, a gaming platform, a token, and its own layer 3 chain. The author was particularly interested in Sanko’s approach of launching their token early and treating it as an iterative product, as well as their focus on building a community and culture first before the technology.

Next, the article covers Layer3, a platform that has evolved from a DAO bounty platform into an attention and token distribution network. Layer3 recently raised $15M in Series A funding, highlighting the demand for better crypto discovery and distribution tools. The author notes that while these platforms are effective at attracting liquidity and driving transaction volume, they may struggle to attract the real and high-quality users that more socially and culturally motivated products will need.

The article then discusses the Zapper Protocol, which aims to incentivize the interpretation and contextualization of on-chain information. The author sees this as an important step in making on-chain activity more legible and accessible to the average person, enabling the creation of more interesting content and context around it.

Finally, the article covers the launch of Rug.Fun V2, a token launchpad and game where tokens compete for liquidity. The author highlights the changes made in the V2 release, such as deploying liquidity pools for all tokens earlier and allocating the “rugged” liquidity from lower-ranked tokens to buying and burning the top tokens. While these changes are seen as improvements, the author notes that Rug.Fun’s bigger challenge is attracting developers with genuinely good meme ideas, rather than just hosting copycat tokens.

ELI5 :hugs:

This article talks about some cool new things happening in the crypto and web3 world. It covers a project called Sanko that’s like a mix of different web3 things, a platform called Layer3 that helps people discover and use crypto products, a new protocol from Zapper that makes it easier to understand what’s happening on the blockchain, and an updated version of a game called Rug.Fun that lets people launch and trade crypto tokens.

Writer’s Main Point :thought_balloon:

The main point of the article seems to be highlighting the latest developments and trends in the crypto and web3 space, particularly around tools and platforms that aim to improve discovery, distribution, and the interpretation of on-chain activity. The author is interested in how these projects are approaching the challenges of building engaging and culturally-driven web3 experiences.

Relevant Links :link: