#191 - 17,983,484 ETH was just unlocked

GM and welcome to Decentra Daily.

We're the web3 newsletter that scratches your itch for useful, up-to-date web3 news.

Today,

1. Staked ETH withdrawals are live

2. LimeWire returns ...as a web3 game

3. RTFKT wearables in GTA V

Plus, all the web3 headlines, memes, and Tweets of the day.

D-Daily takeaway 🥡A big drop in the BAYC floor today.

What's this? 🤔Our floor price index tracks the biggest, most influential pfp projects, art collections, and gaming assets.

Staked ETH withdrawals are now live

Big news for the world's second-largest cryptocurrency: the highly anticipated Shanghai upgrade for Ethereum finally went live last night.

That means holders who staked their ETH to help secure the network after the blockchain transitioned from a Proof-of-Work to a Proof-of-Stake consensus mechanism, can now withdraw their holdings (if they wish).

To be 100% accurate, it's not the Shanghai upgrade: it's the "Shapella" upgrade. That's the Shanghai upgrade + another important change to Ethereum's consensus layer named "Capella."

This upgrade marks the official completion of Ethereum's move to become a Proof-of-Stake blockchain, where new blocks of data are verified by cross-referencing among highly-invested nodes.

– in other words, people who have staked at least 32 of their ETH to earn around 4% APR.

So how much of their 18 million-odd ETH are validators withdrawing?

The amount of staked ETH has been slowly decreasing since the upgrade was completed.

But so far, it looks like new deposits are roughly keeping pace with withdrawals:

Which is good news for those who feared an ETH dump on withdrawal day.

But, an important note

People who used a 3rd party tool to stake ETH – a staking pool like Lido, or a crypto exchange like Coinbase – are mostly not yet able to withdraw.

When withdrawals for those validators are live, we could see the chart swing.

Which way? Who knows. 🤷‍♀️

There's also the argument that, now you can withdraw your ETH stakes at any time, we could see a new wave of investors pledging their ETH to our lord and savior Vitalik...

On the web3 wire

BRC-721, a true NFT standard for Bitcoin inscriptions 🖼️ Creating Ethereum-style contract standards for Bitcoin should help creators standardize and organize collections of Ordinals.

a16z's state of crypto report 🏥The 2nd annual report says that those building blockchain infrastructure products will benefit most come the next cycle.

53% of Bitcoins haven't been touched in +2 years 🕸️ 10.2 million Bitcoin (+300 billion USD) are either lost, or in the hands of true believers, who continue to hold through the currency's latest increase.

Notable Tweets ✅

LimeWire is back – as a web3 game? 🤔

Peer-to-peer filesharing platform LimeWire is a decentralization pioneer, familiar to anyone of a certain age whose 2000s music collection consists of a bunch of mislabeled and incomplete mp3s.

Now, LimeWire is returning in a new web3 form – and that form is a retro play-to-earn game!

The LimeWire Game is styled like a Windows XP desktop and has players avoiding "viruses" as they search and download their favorite 2000s music and movies.

How do you play?

• regress 20 years and search for the latest Eminem, Shakira, and Fall Out Boy hits

• download your favorite content, but watch out for viruses! 🦠

• recall your torrenting skills to look out for red flags like .exe files and large MBs, or suspect names

• avoid viruses to earn points and rank on the leaderboard

Top-ranked players will be rewarded with some LimeWire merch – plus $LMWR, a new token that LimeWire is planning to release.

The bigger picture for LimeWire is to rebrand as a platform for music NFTs and other collectibles

Instead of a torrent site, the new LimeWire lets musicians mint their art to the blockchain and sell or share it directly to listeners.

The marketplace, under new ownership since 2022, is planning to launch its ERC-20 utility token LMWR token on May 2nd.

Until then, LimeWire hopes its retro game will drum up interest.

Play The LimeWire Game here until May 15th. Email address required to play.

Decentra Daily is brought to you by Visualize Value

Are you on a mission to become an internet entrepreneur with multiple income streams and total freedom over your work?

No? Ok, fair enough. We'll just move on to the next newsletter stor-

JK. Of course you are! Who isn't these days?

For those with dreams of winning the internet, Jack Butcher's Visualize Value courses are designed to help you find personal points of leverage and maximize your online opportunities.

Visualize Value's easily digestible content covers non-negotiable topics for digital elites, like how to:

• turn your ideas into concise, compelling visuals,

• create opportunity where others aren't looking, and

• build scalable assets so you can stop selling your time.

Developed by the mind behind Checks, Visualize Value has helped over 53,000 customers find their niche, who give the training courses a 5-star average rating.

Meme of the day

Ciao! 👋

What we're reading this week