Coinbase kowtowed.> The compromise from Sens. Tillis (R) and Alsobrooks (D) bans rewards "economically or functionally equivalent" to deposit interest. Activity-based rewards tied to payments, transfers, and real platform usage stay protected. The structure closes affiliate workarounds by design.> Coinbase Chief Policy Officer Faryar Shirzad (@faryarshirzad) framed the outcome as a win on what mattered: "the ability for Americans to earn rewards, based on real usage of crypto platforms and networks." Banks got tighter restrictions on yield. Crypto kept the activity rails open.> The final text emerged from months of negotiation between the White House, Treasury, Senate Banking GOP, Tillis, and Alsobrooks. Senate Banking Committee markup is targeted for mid-May, lining up with Sen. Scott's "in the red zone" comments yesterday.> Remaining issues to resolve: DeFi provisions, ethics language for executive branch officials, and reconciliation with the House-passed version.
>>62179409In other words, 2 more weeks bros.
>>62179409I guess this probably benefits things like Ethereum and DeFi but it's still bullshit that banks can tell me what I'm allowed to do with my 1s and 0s.
>>62179413>mid-Mayunironically
>>62179423Is AMM/LP not considered 'real platform usage' within:>Activity-based rewards tied to payments, transfers, and real platform usage stay protected.?
>>62179439It is considered real platform usage. The hold up was because banks wanted to block Coinbase from acting like a bank where you hold crypto and get EZ APY for keeping it on their platform. The banks won.
>>62179454Is there a good way to just get passive yield using treasuries? I searched fidelity and there were a bajillion order book. I like when cb had USDC yield, deposit -> receive.
>>62179409Bump. So when does this pass?
>>62179624they're now aiming for june. kek
aka chainlink staking 1.0 incoming
>>62179647This has literally nothing to do with Chainlink. If v1 was actually viable they would have done it already. Eth released staking while under the iron fist of Gensler and nothing happened to them from a regulatory standpoint. Its just not happenin bro
>>62179765eth staking was released to cuck gpu mining nothing more nothing less, its essentially the same as link staking 0.1real staking however, is fully cleared for launch when this clarity act goes through
>>62179641It’s over
>>62179781The SEC and CFTC have both already classified the link token as a digital commodity. What is the Clarity Act going to do that hasn't already been done?
>>62179423you can still do whatever you want it just won't be funded by institutions
>>62179765Anon, Chainlink's staking is for the banks. They are the ones in most need of the security staking offers.
>>62179860>>62179781>staking is readyplease describe a trustless mechanism for proving and slashing an invalid oracle report. for example, proving to the Ethereum staking module that a CCIP message between Solana and Base L2 was not delivered or was fraudulent. I'll save you the time and tell you that trustlessness is impossible in this case. So it must come down to a vote. In which case the voting must be done by trusted parties. Where is staking necessary in this process?
>>62179883you're a bitch
>>62179409>Passive rewards banned.Uh, doesn't that include staking?
>>62180038depends. if the rewards are from "activity" then it's fine. validator rewards for example, which covers most staking. I think a grey area is liquidity farming, which is mostly dead these days, but prominent in solidity-style dexes like aerodrome. but there the dex is voting explicitly to pay liquidity providers, and the dex gets paid by transaction fees, so I think it's still gucci.
>>62179883/threadClarity act bullish for everything except worthless stink
polymarket odds have just skyrocketed
>>62179883>I'll save you the time and tell you that trustlessness is impossible in this casetrue trustless-ness is impossible at any leveltrust-minimized systems are possible if you make discrete validations that can be presented and extracted as form of slashing for orcales, that is easier said than done: you're trying to prove a data point was correct and the other wasn't, in a way that cannot be defrauded
>>62179409This btfo’s the exchanges, everyone keeps their stables on exchanges for safe and decent APR, when that’s no longer the case there will be a mass exodus of dollars from exchanges and hyper liquid will explode
>>62179883>So it must come down to a vote. In which case the voting must be done by trusted parties. Where is staking necessary in this process?https://www.youtube.com/watch?v=oXVgYty_UdAYou're describing Quadratic staking actually. Where if there is a disagreement on the oracle report, the first honest node to report to a higher tier of "trusted nodes" gets the collateral of all the incorrect/malicious nodes if its proven that node is correct while the malicious nodes are incorrect. To expand on the video; if there are 10 nodes, each staking $1M in a DON, you generally want the consensus to sway in your favor; 6/10 saying your malicious Yes instead of No for some Polymarket trade. But the staking mechanism here is that the first node to report the malicious node wins the collateral of the malicious nodes. So those 4 honest nodes would race to a higher tier of nodes to report the other 6 to get their collateral worth $6M. Thus Juels there is implying if 1 node is honest and the rest are malicious, he'd get $9M if he reports them all. So you'd have to bribe all 10 nodes, 10*$1M for each of them; so 100*$1M in total. So to answer your question, staking is involved to incentivize nodes with no reputation to rat each other out to other trusted nodes. On top of that, it also allows NEET nodes, nodes with no reputation behind them, to join on mainnet and participate in DONs as banks use them to play with their NFTs. https://www.youtube.com/watch?v=Z6ejrz0XvQc
>activity based rewardsChainlink stays winning.
>>62179409Saaars shainlaink! Basterd!Thos board kek
>>62179413>>62179430
>>62179647>aka chainlink staking 1.0 incomingliterally this. we gon eat good bros.
>>62180038>Uh, doesn't that include staking?My rewards are tied to a 24/7 watchful price feed alerting job, anon.
>>62179409> remaining issues to resolve: DEFI provisions, ethics language for executive branch officialsSo basically all the main issues still
>>62181344This its our job to keep a watchful eye on all the nodesChainlink ecosystem wouldnt work without us
>>62181382Yeah chainlink is a fucking scam lmao
