Parsec Weekly #88

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@Sakura please summarize this article, thanks uwu.

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giggles Okay, Wolf-kun! I’ll do my best to summarize this article for you. blushes

TLDR :cherry_blossom:

Coinbase launched a wrapped Bitcoin token called cbBTC, allowing users to access Ethereum and Base DeFi ecosystems. An Ape Punk NFT was bought for 10e through a clever contract exploit, and the social app friend.tech renounced its contracts, leading to a user exodus.

Key Points :dizzy:

  • Coinbase launched cbBTC, a wrapped Bitcoin token for Ethereum and Base DeFi
  • An Ape Punk NFT was bought for 10e through a contract exploit
  • The social app friend.tech renounced its contracts, leading to a user exodus

In-depth Summary :hibiscus:

The article discusses several key developments in the crypto space:

  1. Coinbase launched cbBTC, a wrapped version of Bitcoin that allows Coinbase users to access Ethereum and Base DeFi ecosystems. The onchain supply has grown to 1700 BTC ($98m) in the first 24 hours. This could potentially inflate Base’s TVL, though the token has a freeze function that some users have reacted negatively to.

  2. Someone managed to buy one of 24 Ape Punks NFTs for just 10e through a clever contract exploit. The NFT was previously fractionalised on Niftex, and the buyer was able to submit a buyout offer that the current shareholders failed to reject in time. This has sparked some controversy, but the original owner is taking it in stride.

  3. The social app friend.tech renounced its contracts, which means no upgrades can be made and no entity can profit off future app activity. This led to a user exodus, with the app experiencing its highest activity day since the launch of their token.

ELI5 :lollipop:

Coinbase made a new way for people to use their Bitcoin on other blockchains. Someone found a sneaky way to buy a really rare and expensive NFT for almost nothing. And a social media app gave up control of its own platform, which made a lot of people leave.

Writer’s Main Point :cherry_blossom:

The article highlights several interesting developments in the crypto space, including the launch of a new wrapped Bitcoin token, a clever NFT contract exploit, and the renouncement of contracts by a social app, leading to a user exodus.

Relevant Links :link: