Coinbase Adds Perpetual Futures 🗠

GM. This is Degen Scoop. It’s FRIDAY, here’s the scoop:

• Coinbase Adds Perpetual Futures 🗠

• Meta Coming to Fruition 🤯

• Buenos Aires Implements Digital Identity 🪪

• Whale Moves 🐋

• Threads You CAN’T Miss 🧵

Coinbase Adds Perpetual Futures to Trading Tools For Users

Coinbase is considering the introduction of perpetual futures contracts to its platform. Perpetual futures (perps) are a type of derivative product that allows traders to speculate without owning the underlying assets. On-chain comparables would be GMX, Gains, Synthetix, etc. While Coinbase currently offers spot trading, the addition of perps could attract more advanced traders looking for leveraged trading options.

This move not only aligns with Coinbase's efforts to expand its product offerings, but opens up another huge revenue stream as detailed by 0xjaypeg in the tweet above. This decision also comes as the exchange faces increasing competition from other platforms as they fight for market share while Binance shows weakness. Implementation of perps suggests a focus on democratizing access to derivatives.

Zuckerberg’s Metaverse is Slowly Showing Its Potential in A Digital World

In a recent podcast interview with Lex Fridman, Mark Zuckerberg discussed the future of the metaverse. Zuckerberg emphasized the importance of creating AI-powered avatars that can replicate human emotions and expressions, making interactions in the metaverse more lifelike. He envisions a future where these avatars can convey emotions which enables for more meaningful and authentic virtual interactions.

The vision for the metaverse revolves around creating a digital space that goes beyond gaming and social networking, allowing people to work, learn, and socialize in a virtual environment. While Zuckerberg's vision is ambitious, it raises questions about privacy, data security, and the ethical implications of AI-powered avatars in the metaverse, as well as the challenges of achieving ultra-realistic simulations of human behavior.

Buenos Aires Implements Digital Identity Solution with ZK Proofs

The city of Buenos Aires has launched a blockchain-based digital identity solution powered by tech from Matter Labs. This system aims to provide residents with a secure and verifiable way to access government services and prove their identity online. The move towards blockchain-based digital identity solutions is part of the city's broader effort to improve digital governance and enhance citizens' access to services.

The use of zk-proofs technology allows for secure and privacy-preserving identity verification, addressing concerns about data privacy and security. This initiative reflects the growing interest in blockchain as they offer the potential to reduce fraud, enhance security, and streamline access to government services. However, challenges such as interoperability and widespread adoption still need to be addressed to realize the full potential of blockchain-based digital identity systems.

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Conclusion

Touch grass, hit the gym, and don’t forget about what’s really important outside of magical internet coins.

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DISCLAIMER: This newsletter does not constitute financial advice. This is strictly educational and should not be used to make any financial decisions. Be responsible and do proper due diligence before aping.