😲 CZ Sentenced to 4 Months in Prison

In this edition, we explore CZ’s sentence, Tether’s Q1 reports, Build on Blockchain and more.  

💥  Cutting Edge with Shoal Research

In collaboration with Shoal Research, this week’s special feature will dive into Jito (JTO).

Key Terms 

Staking: The process of users locking up coins to participate in network operations and earn rewards.

Liquidity: The ease and speed with which a cryptocurrency can be bought or sold in the market without causing significant price fluctuations.

Network Security: Measures to protect blockchain networks.

DeFi: Decentralized finance. 

What is it?

Jito is a protocol within the Solana ecosystem focused on developing liquid staking solutions. Its central asset, JitoSOL, allows users to stake their SOL tokens while maintaining liquidity, enhancing both utility and capital efficiency. By staking or swapping SOL with JitoSOL, users earn rewards on SOL while being able to use the receipt token JitoSOL to participate in other DeFi and other on-chain activities.

What does it do?

Jito enables Solana token holders to participate in network security via staking, without sacrificing liquidity. This is achieved through JitoSOL, which represents staked SOL in a liquid form.

Why is it interesting?

Today, Jito is the largest protocol on Solana.  

Important connections

Jito interacts closely with other Solana projects and DeFi initiatives, contributing to the broader ecosystem's liquidity and security.

How to get involved?

Investors can get involved by purchasing JTO tokens, participating in the governance through the DAO, or utilizing JitoSOL for staking Solana tokens.

Check out Shoal Research’s Substack and Telegram channel.

💡 Coin Spotlight: What is N+1 Hodling? 

In this segment, we dive into the N+1 Hodl basket and discuss our altcoins. 

Coin: Bitcoin ($BTC)

Sector: L1, Crypto Basics 

Narrative: Bitcoin is the original cryptocurrency and is driven by the narrative that it will reshape finance through decentralization. 

Fundamentals: Bitcoin fundamentals include decentralization, limited supply, transparency, security through proof-of-work, permissionless access and immutable transactions.

Why do we hold: As the catalyst of cryptocurrency, BTC is a must have in our basket. 

Performance: Bitcoin is up 107% YTD.

⏰ Crypto News Recap

4 Month Prison Sentence for CZ 

On April 30th, Changpeng Zhao (CZ) was sentenced to 4 months in prison for Anti-Money Laundering violations. The sentence is reportedly meant to act as a general deterrent for the crypto industry. CZ’s sentence was well below the 3-year punishment suggested by prosecutors. 

Tether Reports $4.5B in Q1

Tether reported a record $4.5 billion in profits in Q1 of 2024. The stablecoin company made most of its money from gold and bitcoin holdings. Tether saw a 58% increase in profits since its previous quarter. 

Build on Bitcoin Launches 

On May 1st, Build on Bitcoin (BOB) launched on mainnet. BOB is a Layer 2 with the goal of connecting Ethereum DeFi to the Bitcoin blockchain. The project focuses on bridges, rollups, and smart contracts. Bridges allow users to transfer digital assets between different blockchain networks. Rollups are scaling solutions that make a blockchain faster and cheaper. BOB ultimately represents experimentation and development within Bitcoin.

Real World Asset TVL Close to $8M 

Real World Assets (RWA) tokenization has been gaining widespread attention. RWA tokenization occurs when tangible assets, such as real estate, are made into blockchain-based digital tokens. On April 30, Messari announced RWA protocols have reached nearly $8 million “driven by a market preference for debt-based, high-yield investments”.

📚 N+1 Recommendations 

The N+1 reading and media recommendations are sourced from our team of experts and offer weekly suggestions for learning more about blockchain, crypto, finance and technology.

This weeks recommendation:  Binance Research - Why You Should Care About Data Availability

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N+1 Insights is meant for informational purposes. It is not meant to serve as investment advice.