🥛SCIENCE FAIR: How smart contracts work 🧪

PLUS: The latest in Web3 funding 💰                                                                                                                                                                                                                                                                                                                                                                                                                 May 26, 2023 | [Read Online]( Today’s edition is brought to you by [Trezor]( - stop losing sleep at night and know your digital assets are secure. GM. This is Milk Road. We’re like that one classmate that’d actually write a cool note in your yearbook instead of just “HAGS.” Here’s what we got for you today: - 2 stablecoins to watch 🪙 - Smart contracts 🤝 Science Fair - Funding Friday 💰 - Binance gets into NFT lending 🍪 Prices as of 8am EDT 2 STABLECOINS YOU SHOULD KNOW 🪙 There are 2 new [stablecoins]( hitting the block [chain:] - Stably USD - Circle’s Euro Coin Here’s what you need to know about ‘em: 1/ Stably USD is the first stablecoin on the Bitcoin blockchain Right now [Bitcoin Ordinals]( traders have to convert their fiat into BTC and then transfer over the Bitcoin blockchain to use. This is clunky, expensive, and BTCs price is volatile af. Well, the dollar-backed #USD is supposed to make it cheaper/more efficient to trade. Users can easily swap USD for the token, which is backed 1-to-1 via USD held by Prime Trust (crypto custodian.) But… record scratch … the Milk Man sees some red flags. 🧐 The company also has an Ethereum-based stablecoin… and it’s flopped harder than Kanye’s Donda album. It has a total of 752 holders. sad trombone And users will have to [KYC]( themselves - that’s a bit of a no-no in decentralized land. Plus, the company set StablyUSD’s maximum [supply]( at… wait for it … 69,420,000,000,000. -_- 2/ Circle’s regulated, euro-backed Euro Coin just launched on Avalanche [tw profile: John Wu 🔺] John Wu 🔺 @John1wu [tw] Crypto just got easier for the EU 🇪🇺 #EuroCoin, from the USDC creator @circle, is now live on Avalanche--letting protocol participants trade, lend, and get paid directly in Euros. Circle @circle 1/ It is official, #EuroCoin is now multi-chain and live on @avax today: May 25, 2023 138 Likes 47 Retweets 19 Replies So what? 2 things: 1/ Circle’s trying to expand EUROC to multiple chains. It launched on Ethereum last year. 2/ Avalanche is known for being a cheaper/faster blockchain. That means transactions are faster & more cost efficient, not to mention borderless. Easier cross-border payments = more mass adoption There’s just one thing…it’s issued by Circle AKA the company behind USDC. AKA the stablecoin that depegged this year. 👀 Doesn’t exactly inspire faith… Milk Road Take: People’s trust in the stablecoin market isn’t as strong as it once was. [Trading volume’s on the floor,]( BUSD & USDC have been hit hard. Sh*t’s kinda bleak. We’ll see if these two will help with that. [KEEP YOUR FUNDS SECURE IN COLD STORAGE](🔐 There are two things I always keep stashed away: 1/ My crypto 2/ An extra pack of Oreos (ya never know when you’ll need it) I won’t tell you where the Oreos are. But I will tell you where the crypto is… [Trezor’s Hardware wallets.]( These are physical devices that keep your private keys and crypto secure. They also give you full control over your assets vs storing it in a centralized exchange. (Remember - not your keys, not your cheese.) There are a ton of different hardware wallets - like Trezor, Ledger, and more - so we created a whole guide for you Roadies. [Check it out here!]( [Secure your funds]( WARNING: Trezor’s Hardware wallets might make you feel invincible. Side effects include walking with a swagger and bragging about your “security hygiene”. THE SMART CONTRACT SCIENCE PROJECT 🧪 The Milk Man dusted off his lab coat and cleaned his test tubes. You know what time it is, Roadies. It’s time to gather around for the Milk Road Science Fair. Today’s booth: Smart contracts. First off, a smart contract is a set of rules that is written into code and can execute on its own, without involving a third party. That’s what crypto is all about - cutting out the middleman. In other words, you don’t have to trust anyone. You can just rely on the power of the blockchain to function properly. And after a wild 2022, trust has gone out of the window like that Sugar Ray song. But smart contracts are only half the battle. People have to find a way to actually use them. That’s where front-end websites come in. They allow users to connect with the code on the back end, while getting to engage with a cool and colorful interface instead. Why are we learning about this? Because we’ve seen confusion around this before. Last year, we saw [Tornado Cash]( get sanctioned by the U.S. govt. for private transactions related to hacks. Their site was shut down and accounts were frozen by Circle and Github. And recently, Crypto Twitter threw a fit after Uniswap blocked a specific token from being traded: The takeaway: Uniswap is owned by Uniswap Labs, which is a U.S.-based company. No matter how decentralized the inner workings are, Uniswap could always adjust their front end or block certain things like a token swap. And at the end of the day, Uniswap can’t really tell the government to take a hike. But it’s not all doom and gloom. Since Uniswap’s front end is open-sourced, other developers can step up and create user-friendly ways to trade. And since the underlying code remains untouched, people can also interact directly with the smart contract. But that may feel a little bit like learning a new language. FUNDING FRIDAY 💰 It’s Funding Friday! This week, $134M+ was raised by crypto companies. Here’s who got that dough: [Worldcoin]( got $115M for its decentralized open source protocol. Everyone and their mother are talking about Sam Altman’s new crypto project… [BoomLand]( got $1M for its blockchain gaming development. Polygon & Magic Eden are among its investors. [Num Finance]( got $1.5M to build out its stablecoin issuance. In this market? Godspeed. [FastLane]( got $2.3M for its Polygon-based MEV protocol. Jaredfromsubway, you seein’ this? Check out the full database of companies that have raised money this week, right [here.]( MILK & COOKIES 🍪 [Pirix has been helping founders boost their presence with top-tier media and rank higher on Google.]( With the help of Bloomberg US Radio & Podcast, Techcrunch, Forbes & VentureBeat.* [Binance is launching an NFT loan feature.]( Tipping off with the Big 3: Bored Apes, Azuki, and Doodles. [Stolen funds from crypto hacks fell 70% from Q1 of 2022.]( With half of the hacked funds being recovered. Are hackers having a change of heart? [Trezor sales have been booming on the back of Ledger’s troubles.]( Trezor’s hardware wallet sales are up 900%. One man's trash is another man's treasure. [Fahrenheit wins the bidding war to acquire Celsius’ assets.]( A match made in heaven. * This is sponsored ad content MILKY MEMES 🤣 Share Milk Road You currently have 0 referrals, only 1 away from receiving The Next 10x Opportunity in Crypto for 2023. [The Next 10x Opportunity in Crypto for 2023]( [Click to Share]( Or copy and paste this link to others: HIT THE INBOX OF 250K+ CRYPTO INVESTORS Advertise with the Milk Road to get your brand in front of the Who's Who of crypto. The Roadies are high-income crypto investors who are always looking for their next interesting product or tool. [Get in touch today](. What'd you think of today's edition? - [🥛🥛🥛🥛🥛 F**king great]( - [🥛🥛🥛 Meh, do better]( - [🥛 You didn't bring the heat]( ROADER REVIEW OF THE DAY VITALIK PIC OF THE DAY [tw profile: Milk Road Images] Milk Road Images @MilkRoadImages [tw] when you join a meeting but it's Friday and this is the best greeting you can do May 26, 2023 0 Likes 0 Retweets 0 Replies DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. [tw]( [ig]( [yt]( [tk]( [in]( Update your email preferences or unsubscribe [here]( © Milk Road 603 Munger Avenue Suite 100 #1006 Dallas, Texas 75202, United States