Microsoft Considers Investing In Bitcoin, New Prediction Market On Solana & More

Welcome back!

This is J264G and this week I’ve got these titbits for you:

• Prediction Markets: Jupiter ventures into prediction markets with Fox.

• Onchain Commodities: Elmnts launches legally compliant public beta.

• Bitcoin Dominance: Microsoft discloses a potential BTC investment to the SEC.

Everything seems to be going crypto's way lately; however, resilience remains essential. Success in this space demands a long-term vision, and resilience is a key factor in achieving it.

Now, let’s jump right into this week’s newsletter!

Click on any underlined heading/hyperlink to learn more.

Spotlight

Stablecoin Infrastructure

Many of us rely on stablecoins as an efficient alternative to fiat when trading, paying, or saving. That’s because stablecoin rails offer several advantages over fiat systems, including reduced costs and faster transactions.

However, despite their potential, stablecoins face challenges that hinder their optimal growth.

One significant problem is liquidity fragmentation across various markets. With multiple stablecoins in circulation — USDT, USDC, PYUSD, and others — liquidity becomes scattered, reducing efficiency in trading and market operations. Another issue are the high capital requirements inherent in many automated market makers (AMMs), which leads to a dominance of certain stablecoins — such as USDC — and reinforces centralisation risks.

For stablecoins to fully reach their potential, they need scalable infrastructure that ensures decentralisation, diversification, and liquidity across multiple markets.

To solve these challenges, we've founded Perena. 

Our mission is to develop the infrastructure needed to support the long-term growth and decentralisation, diversification, and liquidity of stablecoins.

Our first product is a stableswap, Numéraire, designed to tackle the issues outlined above — head-on. Just as Sanctum supports the efficient creation and swapping of liquid staking tokens (LSTs), Numéraire functions as a multi-stablecoin liquidity pool that allows for the seamless creation and swapping of stablecoins — optimising liquidity and enhancing efficiency across markets. 

This brings with it several key benefits for various stakeholders in the stablecoin ecosystem:

• For regular users: Numéraire allows users to swap stablecoins with lower fees and better rates, enhancing the efficiency of their trading activities.

• For liquidity providers: By adding liquidity to the pool, LPs can earn more thanks to Numéraire’s built-in lending and reinvestment mechanism. 

• For stablecoin issuers: Numéraire simplifies the process of issuing new stablecoins by lowering capital requirements and making integrations easier. 

In short, Numéraire offers a better way to launch, trade, and earn with stablecoins. 

As we continue to innovate and expand, we are actively seeking engineers, product developers, and business developers to join our team and help us unlock the full potential of stablecoins in the onchain economy. 

Reach out to us on 𝕏 and follow Perena for cutting-edge stablecoin research and the latest updates.

Chart Of The Week

News Bites

Bitcoin Dominance: Microsoft disclosed in an SEC filing that "Assessment of investing in Bitcoin" will be on the agenda as a voting item at the upcoming shareholder meeting in December.

Academia Adoption: Harvard Business School is about to publish a case study on Helium, one of Solana's leading DePIN projects. The case study explores Helium's unique approach to decentralised wireless infrastructure and provides a significant acknowledgment of the project’s relevance within both academic and technological spheres.

24/7 Trading: The NYSE plans to extend trading hours on its Arca Exchange to 22 hours daily, marking a move by traditional finance to compete with the continuous, 24/7 activity of crypto markets. This change underscores the impact crypto is having on global finance, pushing traditional exchanges to adapt to the demand for more accessible, round-the-clock trading options.

Prediction Markets: Jupiter has started venturing into prediction markets with the launch of Fox, an experimental platform offering a unique take on tokenized odds. This innovative approach allows users to engage in prediction markets with a twist and further expands Jupiter’s reach.

Why Stablecoins? If you’re on the fence about stablecoins or just want to learn more, consider reading Peter Schroeder’s insightful piece. He discusses the purpose of money, why digital money is a better form factor, and the opportunity stablecoins offer.

Solana-Powered Shopify: Over 1,000 Shopify stores are now leveraging Solana Pay to run their operations on the world’s largest e-commerce platform. Here’s a thread showcasing which Shopify stores are powered by Solana Pay today.

Onchain Commodities: Elmnts, an onchain commodities ecosystem bringing oil and gas royalties to the masses by blending TradFi and DeFi, has launched its legally compliant public beta on Solana.

Caught In 4K

Weekly Take

Keks & Giggles

And that's a wrap!

If you'd like to reach me, respond to this newsletter or reach out to me on 𝕏.

Talk soon!

J264G

_{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. Lastly, please be advised that we discuss products and services from our partners from which our team members may hold tokens/equity.}