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VeradiVerdict - Korea's First Stablecoin - Issue #35

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Hi, I am Paul Veradittakit, a Partner at Pantera Capital, one of the oldest and largest institutional
 
April 30 · Issue #35 · View online
VeradiVerdict
Hi, I am Paul Veradittakit, a Partner at Pantera Capital, one of the oldest and largest institutional investors focused on investing into blockchain companies and cryptocurrencies. I focus on early investments and want to share my thoughts and what’s going on in the industry in this weekly newsletter.
View this issue on my Medium blog here.
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Editorials
Stablecoins are needed in the crypto ecosystem for price stability and payment, so I wrote a high level view of some strategies in a previous article here. I wanted to highlight a project called Terra that has created a stablecoin using the seniorage shares model, but is unique in a few different ways:

  • Terra is based in and targeting the South Korean market initially, becoming Korea’s first stablecoin. Korea has proven to be a strong testbed for cryptocurrencies, making up about 30% of the world’s cryptocurrency trading volume.

  • The Terra team is quite experienced in payments and decentralized technologies. Daniel Shin has extensive experience building out one of the biggest e-commerce platforms in Asia in Ticket Monster. Do Kwon previous built a wireless mesh networking startup.

  • The Terra project stands out from other stablecoin projects by having a strong focus on payments and with their experience and relationships, have integrated with top e-commerce players totaling $25B in GMV.

  • Luna, its stability engine, aligns holders’ incentive to participate and contribute to the growth of the Terra network.
With fiat on-ramps and the appropriate licensing, in addition to strong distribution, I think Terra is a stablecoin project to keep an eye on. Terra is backed by Binance and other crypto investors.
Digests
A 'Blockchain Bandit' Is Guessing Private Keys and Scoring Millions | WIRED
Demystifying Cosmos: Atomic Swaps, Ethereum, Polkadot and the Path to Blockchain Interoperability
Grin Mining Pool Profitability – BlockCypher Blog
5 Differences between Cosmos & Polkadot – Julian Koh – Medium
In the Tweets
Bitwise
Today Nasdaq @DorseyWrightDWA is rolling out the @BitwiseInvest Crypto Index Family + Point & Figure charts for individual coins. Thousands of financial advisors rely on the NDW research platform & can now gain insight into the crypto asset class! https://t.co/SR9tAe0smd
12:29 PM - 25 Apr 2019
Nathaniel Popper
In the wake of TD Ameritrade quietly opening Bitcoin trading for some of its customers, I was just told that eTrade is preparing to begin offering both Bitcoin and Ether trading to its 5 million or so customers and is just finalizing a third party to actually hold the coins.
1:08 PM - 26 Apr 2019
News
Nike Files Trademark Application in the US for ‘Cryptokicks’
Disney in Talks to Acquire Bitcoin (BTC) and Crypto Exchange Owner NXC: Report | The Daily Hodl
Report: Samsung Planning New Blockchain Mainnet Featuring Samsung Coin
Regulations
Bitfinex Covered $850 Million Loss Using Tether Funds, NY Prosecutors Allege - CoinDesk
New Products and Hot Deals
Bakkt Acquires Crypto Custodian, Partners With BNY Mellon on Key Storage - CoinDesk
In New Bitcoin Push, ICE's Bakkt Buys Crypto Custodian DACC | Fortune
Meet with Me
New York, Ethereal Summit, May 10-11
New York, Consensus Conference, May 13-15
New York, Token Summit, May 16
Las Vegas, July 12
Additional Info
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