Weekend Recommended Reading | Guide to Tokenization in Web3 Games; The Great Defeat of Chinese DAOs

Organizer: Hu Tao, Chain Catcher

1. “Ten Questions and Answers: A Guide to Web3 Game Tokenization”

What problems need to be solved to create a successful Web 3.0 game? It's not simply about replacing equipment or resources from Web 2.0 games with NFTs, or issuing the original game points as tokens. The game categories most suitable for innovative Web 3.0 transformation should cover a majority of mid-core games, including role-playing, sports competitions, strategy SLG, real-time strategy RTS, and card games. Among them, MMORPGs will be the main game type leading the GameFi 2.0 phase and are one of the most suitable types to be made into Web 3.0 games.

2. “Uniswap's 'Value Question': How to Empower UNI?”

Uniswap's market share on Ethereum has fluctuated between 65% - 75% over the past year and has achieved success on networks like Optimism and Polygon. However, there has been a lot of negative market sentiment recently—due to a lack of value capture ability and activities from Uniswap Labs (such as its venture capital department), the UNI token economy is considered poor and may not necessarily bring value to token holders.

Uniswap should eliminate its dependence on Uniswap Labs, and the community should embark on a journey to maximize its own value. The article outlines a rough roadmap aimed at illustrating what a better community-led effort should look like.

3. “Interpreting Aztec: Bringing Privacy to DeFi L2”

The privacy track lacks projects that are fully functional and have a high level of security. Aztec, as an emerging privacy project, has the potential to fill this gap: as a ZK Rollup project, it can share Ethereum's security, and its mid-term goals are to achieve privacy in DeFi interactions, bringing new experiences to the privacy track.

Aztec's product system is based on the underlying PLONK proof system, enabling anonymous transactions between accounts and achieving privacy interactions with DeFi projects through gateway contracts. Aside from the gateway aspect, Aztec's method of achieving privacy is quite similar to Zcash, akin to a Zcash that shares Ethereum's security through Rollup technology. This article will detail its privacy architecture and DeFi interaction methods.

4. “Key Figures Deeply Expose Celsius's Explosion: Manipulating Token Prices Using Customer Assets, Essentially a Ponzi Scheme (With Indictment)”

On July 8, the Celsius explosion incident received another major revelation, with Jason Stone, the former CEO of KeyFi behind the 0xb1 Twitter account, announcing a formal lawsuit against Celsius, accusing the company of operating a "Ponzi scheme" and severely mismanaging customer funds, failing to conduct basic internal audits to clarify its obligations, and manipulating the cryptocurrency market using customer assets. This article is a compilation of the core parts of its indictment by Chain Catcher (with some omissions) to help readers further understand the details of the Celsius explosion incident.

5. “Coinbase Chief Economist: Reasons for the Origin and End of This Bull Market”

Over the past five years, the cryptocurrency market has seen huge returns, partly due to the adoption by institutional and retail investors, which laid the foundation for Web3. How should we assess the recent peaks and troughs in cryptocurrency prices? From the perspective of market efficiency, cryptocurrency prices reflect the market's assessment of the future prospects of digital assets. This perspective can help us understand the historical trends of cryptocurrency prices and their correlation with the overall financial market.

6. “Interview with Sequoia Capital Partner: How to View the Crypto Cycle and Future Trends?”

Founded in 1972, Sequoia Capital has just turned 50 this year and is the undisputed leader in the global venture capital field. This article comes from an UnChained interview with two Sequoia Capital partners, Shaun Maguire and Michelle Bailhe, on how they view the crypto cycle and future trends. The former has successfully founded three out of five companies, while the latter started at McKinsey and later served as the team leader of a Silicon Valley creative lab.

7. “The Great Failure of Chinese DAOs: Can We Achieve Decentralized Autonomy?”

Many DAO organizations today are neither decentralized nor autonomous, lacking even a good incentive mechanism, making survival a challenge. They flaunt the name of DAO but are essentially nothing. If we believe that DAOs are the future and that more businesses and NGOs will transform into DAOs, then if these issues are not resolved, it is just a sham. To solve these problems, we need to re-understand what a DAO is.