Today’s issue is brought to you by Safe — the world’s leading smart account provider on EVM, securing $100B+ in assets (including Vitalik’s).

👉 If you’re going to Devcon, join their Telegram for some alpha

Join our Telegram | Follow us on 𝕏 | Partner with us

⌐◪-◪ → ENS is evolving!

ENS Labs, the organization behind Ethereum Name Service (ENS), just announced plans to launch a purpose-built layer 2 called Namechain by the end of 2025.

This new chain will leverage zero-knowledge rollup technology, unlike the popular OP Stack, to help scale ENS and provide super low fees.

Some people on Twitter are already criticizing ENS for launching another Layer 2. While I tend to agree with the sentiment that “not everything needs its own L2,” ENS is one of the few essential services that actually does.

If you’re curious, dive into the full announcement speech or check out CoinDesk’s article.

This is definitely bullish news for ENS, but it might be bearish news for my bags…my domain collecting addiction is about to spiral with these low fees.

⌐◪-◪ → The FTX drama is undying.

In an unexpected turn of events, FTX is now suing Binance and CZ for over $1.8B. FTX is trying to pin the blame on Binance, claiming CZ’s actions were part of a broader plan to discredit and destroy FTX.

Specifically, the case calls out CZ’s famous tweet about selling FTT as a pivotal moment in FTX’s collapse — ultimately triggering massive withdrawals. CZ has already pushed back, saying, “no healthy business can be destroyed in a tweet.”

While I definitely think CZ’s tweet had an impact by calling attention to a bad situation, he shouldn’t be blamed for pointing out what was ultimately a Ponzi scheme. FTX is just desperate at this point.

Idk about you guys, but I’m on CZ’s side here. I hope this fizzles back, or better yet, CZ countersues and wins.

⌐◪-◪ → Polymarket wants you to stay!

It looks like Polymarket is teasing some sort of rewards or drops as a way to keep users on the platform post-election.

For context, open interest on Polymarket dropped 64% from $511M to $184M after the U.S. Presidential election on November 5th.

This drop, of course, shouldn’t come as a surprise — it’s something everyone predicted — but now it’s up to Polymarket to find other ways to keep trader interest alive.

One strategy they’re using appears to be this popup promising “future rewards and drops” for users thinking about withdrawing funds.

Another strategy seems to be these new election-related betting markets like:

• Who will Trump pardon in first 100 days?

• Will Trump declassify JFK files?

• Will Trump end taxes on tips?

As for whether or not they’ll launch a token/airdrop, the best way to figure that one out is, funnily enough, probably a Polymarket market. Talk about meta.

Join Our Community!

Designed to make you a better crypto investor, builder, and operator.

💬 Chat with Valko and other experts
📚 Access additional hand-curated resources
😊 Make friends, share memes, have fun