Wed April 06

Good Morning. Our Referral program is live. Please see the bottom of the letter for more details 😀 .

Indian School of Business launches Blockchain Impact Club, Elon Musk pushes the dogecoin triggers again, and Arbitrum takes a U-turn.

💥 Indian School of Business Launches Blockchain Impact Lab: The DLabs Incubator Association (DLabs) at the Indian School of Business (ISB) has teamed up with S&P Global to establish the Blockchain Impact Lab at ISB's Hyderabad campus. The lab's objective is to promote and encourage blockchain innovation by providing access to top-of-the-line technology and knowledge dissemination on blockchain and its societal impact. The lab is equipped with cutting-edge technology such as the Ethereum Virtual Machine, Hyperledger Fabric, and Multi-chain environments, with four nodes that are sufficient for all kinds of use case testing. The lab will function both as a physical and virtual setup, enabling stakeholders to attend blockchain training sessions and use case demonstrations in a classroom environment, while ISB-incubated start-ups can use the facility to develop Proofs-of-Concept. The lab aims to support 500+ student innovators and start-ups in the first year alone, and larger groups of stakeholders outside the ISB ecosystem can also benefit from being trained through the lab.

🤑 Dogecoin Overtakes Cardano: Dogecoin surpassed Cardano to become the seventh largest cryptocurrency after Twitter replaced its homepage logo with a doge on March 3. This caused a buying frenzy, resulting in a 24% surge in the 30-minute period, pushing the coin to a 17-week high of $0.1047. Although profit-taking caused a dip, with a bottom of $0.0891, it was enough to overtake Cardano in terms of market cap. Twitter has expressed interest in incorporating digital payments, including acquiring regulatory licensing, but it is unclear if the logo change indicates impending crypto integration. Elon Musk has responded to the move, including a tweet about the blue bird logo being "an old photo," but it appears that the change was suggested by @WSBChairman in a conversation.

🧪 Arbitrum Take A U-Turn And There Would Be No 'Near-Term' ARB Sales Amid Community Outrage: Following a loud revolt by holders of its ARB token, the Arbitrum Foundation has decided to split its controversial governance package into several separate votes. Eli_Defi, the Community Lead with the handle, announced on Arbitrum's Discord server that "AIP-1 is too large and covers too many topics. We will follow the DAO's advice and split the AIP into parts." The decision to backtrack came after the Arbitrum community expressed rage over the Foundation's centralized approach to holding a "ratification" vote on decisions it had already implemented, including sending almost $1 billion in tokens to itself. The vote was likely to fail overwhelmingly on Snapshot, prompting the Foundation to pledge to hold redos on each section of the omnibus bill "early this week."

🇺🇸 Paxful Suspends Marketplace: Paxful, a peer-to-peer exchange, has announced the suspension of its marketplace, as per a message from its CEO, Ray Youssef, which was shared by crypto influencer @callebtc. The message stated that Paxful was uncertain whether the marketplace would return, but the Paxful Wallet would remain active to enable customers to retrieve their funds. The message advised users to withdraw and self-custody their funds and recommended Exodus Wallet and Muun Wallet as safe options. Youssef emphasized that the priority was to safeguard customer funds. Paxful offered easy migration options to other peer-to-peer platforms for non-US users to ensure that they could retrieve their funds quickly and securely.

What Is A DAO And How Do They Work?: A DAO, or “Decentralized Autonomous Organization,” is a community-led entity with no central authority. It is fully autonomous and transparent: smart contracts lay the foundational rules, execute the agreed-upon decisions, and at any point, proposals, voting, and even the very code itself can be publicly audited.