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Visa Partners With Solana For Payments 🤝

Today's stories: Visa partners with Solana for payments, Base experiences outage, and Metamask enables cash out to bank.

September 06, 2023

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

  • Visa Partners With Solana For Payments 🤝

  • Base Experiences Outage 😵

  • Metamask Enables Cash Out to Bank 💰

  • Whale Moves 🐋

  • Threads You CAN’T Miss 🧵

Visa Partners With Solana For Stablecoin Settlement

It seems that most days in this bear market, we have received some sort of bullish news that neglects to move the market whatsoever. This is one of those many cases where a major institution is committing to use blockchain. In this case, Visa is partnering with Solana for stablecoin settlement. This is huge. Think what you may about Solana, but this is real world utility in action.

Visa has done extensive testing and has found that Solana is the chain to use at this point in time. Certainly cheaper and faster than ETH mainnet, it’s interesting that they would still choose an alt L1. The bear market of 2018 was devoid of life; DeFi hadn’t even really been created as of yet. This is huge news for blockchain usage in the world.

Base Undergoes Outage, No Funds Lost in Downtime

Base has been the chain to follow this past month having even brought over some OnlyFans creators and other artists. The chain yesterday went down for about half an hour, so the downtime was fairly limited. It is important to note, a chain shouldn’t ever go down but it’s good that this happened in a less busy time to as to be prepared for the future.

The devs identified the issue quickly and were able to patch it so that it wouldn’t cause problems in the future. While L2s are fantastic tech, they are far from perfect. For the most part they are safe to use, but they don’t have the same amount of usage as Ethereum mainnet to draw from. Learning moment for all that deal with running a layer two.

Metamask Adds Sell to Fiat Option For Users

Metamask remains the most popular wallet choice for most crypto users despite better choices having been created in the past couple of years. For those that still use the wallet, they have added a great new features that will simplify turning your crypto gains into real world money that you can use offchain.

Users will be able to send fiat to either their bank account or a PayPal account. This will only be available to users in the US, UK, and some EU countries. Support is limited to ETH on mainnet, but will expand to L2s in time. Ultimately, we are bullish on UX improvements and this is it. Despite Metamask’s flaws, this will help users dodge the need for a CEX when selling their coins.

Notable NFT Sales in the Last 24 Hours:

CryptoPunk #4233 - Sold For 63 ETH ($102K)

CryptoPunk #6051 - Sold For 52 ETH ($84K)

Notable Threads You May Have Missed:

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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.

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