Bitcoin Treasuries in Publicly Traded Companies
Grayscale Bitcoin Trust ($GBTC): 449,596 BTC, ~$5B
CoinShares ETP ($COINXBT: SS): 69,730 BTC, ~$770M
Microstrategy ($MSTR): 38,250 BTC, ~422M
Galaxy Digital ($BRPHF): 16,651 BTC, ~$184M
Square ($SQ): 4,709 BTC, ~$50M
Riot Blockchain, Inc. ($RIOT): 1,053 BTC, ~$11.6M
NASDAQ Institutional Ownership of GBTC
While this is quite a bit of Public and Institutional exposure for an asset only around the past 11 years, this seems to be the beginning of a rather influential trend. Another large trend to keep an eye on is the amount of bitcoin wrapped on Ethereum.
Market Update (Monday 9:30 AM ET)
Percent Change (Rounded) Based on Last Monday Open (9:30 AM ET)
Bitcoin- $11,306 (+6%)
Ether- $368.6 (+7%)
Gold- $1,921 (+1%)
DJI Average- 28,671 (+4%)
NYSE Composite Index- 13,289 (+3%)
NASDAQ Composite Index- 11,732 (+6%)
S&P500 Index- 3,500 (+5%)
New Developments
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The Graph Foundation aims to develop and grow the ecosystem, The Graph
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Square ($SQ) bought 4709 Bitcoin ($50M) to hold on their Balance Sheet
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JP Morgan’s Blockchain Lead Now in Charge of ETH-Based Interbank Information Network
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How mainstream adoption of crypto helped distribute $30K to businesses, Katie Johnson
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Introducing CoFiX: a Next-Generation AMM, Haseeb Qureshi
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Community Foundation offering smart contract-powered Donor-Advised Funds
Vance Spencer @iam__vance
1/ Today we are launching endaoment.orgwith @RobbieHeeger, the first Donor-Advised Fund (DAF) provider built entirely on Ethereum After 12 months of dev, testing with endowments, and working with regulators to secure non-profit status, we are proud to release this
October 5th 2020
40 Retweets198 Likes
Industry Insights
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Breaking Down Decentralized Applications, Roy Walker
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There’s no such thing as a decentralized exchange, The Block
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There is over $1,000,000,000 in Wrapped Bitcoin on Ethereum, Jack Purdy
Jack Purdy @jpurd17
The demand for yield on idle #Bitcoin is real There is now $1 billion of WBTC with nearly all of it is dispersed across popular DeFi protocols No longer are BTC's money verbs confined to simply hold, send, and receive 🤑 
October 5th 2020
5 Retweets24 Likes
For Developers
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APIs: The Digital Glue, Saša Milić
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How to build a subgraph using TheGraph Protocol, David Kajpust
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How to build Ethereum voting contract using Solidity & Truffle, FreeCodeCamp
Blockchain Activity
Analyze Uniswap’s GovernorAlpha Contract:
*This will be used to conduct governance for future changes to Uniswap’s Protocol (Proposals, Votes, Delegates)
**Tools: Metamask (Wallet), Remix IDE (Development Environment), Solidity (Smart Contract Language) Ethereum (Blockchain)
# set pragma
pragma solidity ^0.5.16;# contract (Source)
contract GovernorAlpha {
/// @notice The name of this contract
string public constant name = "Uniswap Governor Alpha";
/// @notice The number of votes in support of a proposal required in order for a quorum to be reached and for a vote to succeed
function quorumVotes() public pure returns (uint) { return 40_000_000e18; } // 4% of Uni
/// @notice The number of votes required in order for a voter to become a proposer
function proposalThreshold() public pure returns (uint) { return 10_000_000e18; } // 1% of Uni
/// @notice The maximum number of actions that can be included in a proposal
function proposalMaxOperations() public pure returns (uint) { return 10; } // 10 actions
/// @notice The delay before voting on a proposal may take place, once proposed
function votingDelay() public pure returns (uint) { return 1; } // 1 block
/// @notice The duration of voting on a proposal, in blocks
function votingPeriod() public pure returns (uint) { return 40_320; } // ~7 days in blocks (assuming 15s blocks)
/// @notice The address of the Uniswap Protocol Timelock
TimelockInterface public timelock;
/// @notice The address of the Uniswap governance token
UniInterface public uni;
/// @notice The total number of proposals
uint public proposalCount;
struct Proposal {
/// @notice Unique id for looking up a proposal
uint id;
/// @notice Creator of the proposal
address proposer;
/// @notice The timestamp that the proposal will be available for execution, set once the vote succeeds
uint eta;
/// @notice the ordered list of target addresses for calls to be made
address[] targets;
/// @notice The ordered list of values (i.e. msg.value) to be passed to the calls to be made
uint[] values;
/// @notice The ordered list of function signatures to be called
string[] signatures;
/// @notice The ordered list of calldata to be passed to each call
bytes[] calldatas;
/// @notice The block at which voting begins: holders must delegate their votes prior to this block
uint startBlock;
/// @notice The block at which voting ends: votes must be cast prior to this block
uint endBlock;
/// @notice Current number of votes in favor of this proposal
uint forVotes;
/// @notice Current number of votes in opposition to this proposal
uint againstVotes;
/// @notice Flag marking whether the proposal has been canceled
bool canceled;
/// @notice Flag marking whether the proposal has been executed
bool executed;
/// @notice Receipts of ballots for the entire set of voters
mapping (address => Receipt) receipts;
}
/// @notice Ballot receipt record for a voter
struct Receipt {
/// @notice Whether or not a vote has been cast
bool hasVoted;
/// @notice Whether or not the voter supports the proposal
bool support;
/// @notice The number of votes the voter had, which were cast
uint96 votes;
}
/// @notice Possible states that a proposal may be in
enum ProposalState {
Pending,
Active,
Canceled,
Defeated,
Succeeded,
Queued,
Expired,
Executed
}
/// @notice The official record of all proposals ever proposed
mapping (uint => Proposal) public proposals;
/// @notice The latest proposal for each proposer
mapping (address => uint) public latestProposalIds;
/// @notice The EIP-712 typehash for the contract's domain
bytes32 public constant DOMAIN_TYPEHASH = keccak256("EIP712Domain(string name,uint256 chainId,address verifyingContract)");
/// @notice The EIP-712 typehash for the ballot struct used by the contract
bytes32 public constant BALLOT_TYPEHASH = keccak256("Ballot(uint256 proposalId,bool support)");
/// @notice An event emitted when a new proposal is created
event ProposalCreated(uint id, address proposer, address[] targets, uint[] values, string[] signatures, bytes[] calldatas, uint startBlock, uint endBlock, string description);
/// @notice An event emitted when a vote has been cast on a proposal
event VoteCast(address voter, uint proposalId, bool support, uint votes);
/// @notice An event emitted when a proposal has been canceled
event ProposalCanceled(uint id);
/// @notice An event emitted when a proposal has been queued in the Timelock
event ProposalQueued(uint id, uint eta);
/// @notice An event emitted when a proposal has been executed in the Timelock
event ProposalExecuted(uint id);
constructor(address timelock_, address uni_) public {
timelock = TimelockInterface(timelock_);
uni = UniInterface(uni_);
}
function propose(address[] memory targets, uint[] memory values, string[] memory signatures, bytes[] memory calldatas, string memory description) public returns (uint) {
require(uni.getPriorVotes(msg.sender, sub256(block.number, 1)) > proposalThreshold(), "GovernorAlpha::propose: proposer votes below proposal threshold");
require(targets.length == values.length && targets.length == signatures.length && targets.length == calldatas.length, "GovernorAlpha::propose: proposal function information arity mismatch");
require(targets.length != 0, "GovernorAlpha::propose: must provide actions");
require(targets.length <= proposalMaxOperations(), "GovernorAlpha::propose: too many actions");
uint latestProposalId = latestProposalIds[msg.sender];
if (latestProposalId != 0) {
ProposalState proposersLatestProposalState = state(latestProposalId);
require(proposersLatestProposalState != ProposalState.Active, "GovernorAlpha::propose: one live proposal per proposer, found an already active proposal");
require(proposersLatestProposalState != ProposalState.Pending, "GovernorAlpha::propose: one live proposal per proposer, found an already pending proposal");
}
uint startBlock = add256(block.number, votingDelay());
uint endBlock = add256(startBlock, votingPeriod());
proposalCount++;
Proposal memory newProposal = Proposal({
id: proposalCount,
proposer: msg.sender,
eta: 0,
targets: targets,
values: values,
signatures: signatures,
calldatas: calldatas,
startBlock: startBlock,
endBlock: endBlock,
forVotes: 0,
againstVotes: 0,
canceled: false,
executed: false
});
proposals[newProposal.id] = newProposal;
latestProposalIds[newProposal.proposer] = newProposal.id;
emit ProposalCreated(newProposal.id, msg.sender, targets, values, signatures, calldatas, startBlock, endBlock, description);
return newProposal.id;
}
function queue(uint proposalId) public {
require(state(proposalId) == ProposalState.Succeeded, "GovernorAlpha::queue: proposal can only be queued if it is succeeded");
Proposal storage proposal = proposals[proposalId];
uint eta = add256(block.timestamp, timelock.delay());
for (uint i = 0; i < proposal.targets.length; i++) {
_queueOrRevert(proposal.targets[i], proposal.values[i], proposal.signatures[i], proposal.calldatas[i], eta);
}
proposal.eta = eta;
emit ProposalQueued(proposalId, eta);
}
function _queueOrRevert(address target, uint value, string memory signature, bytes memory data, uint eta) internal {
require(!timelock.queuedTransactions(keccak256(abi.encode(target, value, signature, data, eta))), "GovernorAlpha::_queueOrRevert: proposal action already queued at eta");
timelock.queueTransaction(target, value, signature, data, eta);
}
function execute(uint proposalId) public payable {
require(state(proposalId) == ProposalState.Queued, "GovernorAlpha::execute: proposal can only be executed if it is queued");
Proposal storage proposal = proposals[proposalId];
proposal.executed = true;
for (uint i = 0; i < proposal.targets.length; i++) {
timelock.executeTransaction.value(proposal.values[i])(proposal.targets[i], proposal.values[i], proposal.signatures[i], proposal.calldatas[i], proposal.eta);
}
emit ProposalExecuted(proposalId);
}
function cancel(uint proposalId) public {
ProposalState state = state(proposalId);
require(state != ProposalState.Executed, "GovernorAlpha::cancel: cannot cancel executed proposal");
Proposal storage proposal = proposals[proposalId];
require(uni.getPriorVotes(proposal.proposer, sub256(block.number, 1)) < proposalThreshold(), "GovernorAlpha::cancel: proposer above threshold");
proposal.canceled = true;
for (uint i = 0; i < proposal.targets.length; i++) {
timelock.cancelTransaction(proposal.targets[i], proposal.values[i], proposal.signatures[i], proposal.calldatas[i], proposal.eta);
}
emit ProposalCanceled(proposalId);
}
function getActions(uint proposalId) public view returns (address[] memory targets, uint[] memory values, string[] memory signatures, bytes[] memory calldatas) {
Proposal storage p = proposals[proposalId];
return (p.targets, p.values, p.signatures, p.calldatas);
}
function getReceipt(uint proposalId, address voter) public view returns (Receipt memory) {
return proposals[proposalId].receipts[voter];
}
function state(uint proposalId) public view returns (ProposalState) {
require(proposalCount >= proposalId && proposalId > 0, "GovernorAlpha::state: invalid proposal id");
Proposal storage proposal = proposals[proposalId];
if (proposal.canceled) {
return ProposalState.Canceled;
} else if (block.number <= proposal.startBlock) {
return ProposalState.Pending;
} else if (block.number <= proposal.endBlock) {
return ProposalState.Active;
} else if (proposal.forVotes <= proposal.againstVotes || proposal.forVotes < quorumVotes()) {
return ProposalState.Defeated;
} else if (proposal.eta == 0) {
return ProposalState.Succeeded;
} else if (proposal.executed) {
return ProposalState.Executed;
} else if (block.timestamp >= add256(proposal.eta, timelock.GRACE_PERIOD())) {
return ProposalState.Expired;
} else {
return ProposalState.Queued;
}
}
function castVote(uint proposalId, bool support) public {
return _castVote(msg.sender, proposalId, support);
}
function castVoteBySig(uint proposalId, bool support, uint8 v, bytes32 r, bytes32 s) public {
bytes32 domainSeparator = keccak256(abi.encode(DOMAIN_TYPEHASH, keccak256(bytes(name)), getChainId(), address(this)));
bytes32 structHash = keccak256(abi.encode(BALLOT_TYPEHASH, proposalId, support));
bytes32 digest = keccak256(abi.encodePacked("\x19\x01", domainSeparator, structHash));
address signatory = ecrecover(digest, v, r, s);
require(signatory != address(0), "GovernorAlpha::castVoteBySig: invalid signature");
return _castVote(signatory, proposalId, support);
}
function _castVote(address voter, uint proposalId, bool support) internal {
require(state(proposalId) == ProposalState.Active, "GovernorAlpha::_castVote: voting is closed");
Proposal storage proposal = proposals[proposalId];
Receipt storage receipt = proposal.receipts[voter];
require(receipt.hasVoted == false, "GovernorAlpha::_castVote: voter already voted");
uint96 votes = uni.getPriorVotes(voter, proposal.startBlock);
if (support) {
proposal.forVotes = add256(proposal.forVotes, votes);
} else {
proposal.againstVotes = add256(proposal.againstVotes, votes);
}
receipt.hasVoted = true;
receipt.support = support;
receipt.votes = votes;
emit VoteCast(voter, proposalId, support, votes);
}
function add256(uint256 a, uint256 b) internal pure returns (uint) {
uint c = a + b;
require(c >= a, "addition overflow");
return c;
}
function sub256(uint256 a, uint256 b) internal pure returns (uint) {
require(b <= a, "subtraction underflow");
return a - b;
}
function getChainId() internal pure returns (uint) {
uint chainId;
assembly { chainId := chainid() }
return chainId;
}
}# interface contracts
interface TimelockInterface {
function delay() external view returns (uint);
function GRACE_PERIOD() external view returns (uint);
function acceptAdmin() external;
function queuedTransactions(bytes32 hash) external view returns (bool);
function queueTransaction(address target, uint value, string calldata signature, bytes calldata data, uint eta) external returns (bytes32);
function cancelTransaction(address target, uint value, string calldata signature, bytes calldata data, uint eta) external;
function executeTransaction(address target, uint value, string calldata signature, bytes calldata data, uint eta) external payable returns (bytes memory);
}
interface UniInterface {
function getPriorVotes(address account, uint blockNumber) external view returns (uint96);
}Earn Opportunity
Join the Graph Curators Program. The Graph Protocol is a blockchain data service to help end-users query blockchain data. Just last month they processed over 4 billion queries! The Graph Protocol has set aside 3% of the $GRT token supply to reward curators during the incentivized testnet program. The initial Kick-off call happened on October 7, but if you or anyone you know is interested there is still time to get involved! To register use the link provided by The Graph Team here.
