From Construction To Crypto. An Inspiring Story

GM Readers!📪 It's BitDegree Insider, and let's get it started.

⭐️Today's selection:

• 😎Cool Facts Derby
• 👌Selected Meme of The Day
• 📰Bite-Sized News

COOL FACTS DERBY

FACT #1Inspiring Story from El Salvador

Gerardo Moran, a young man from the small town of Concepción de Ataco, had been working in construction & tourism since he was 11.

One day, he learned about Bitcoin, and it inspired him so much that he quit his job and delved into studying cryptocurrency. During this time, Bitcoin even became a legal payment method in his country.

After some time, a course on cryptocurrency was introduced at his school, which he immediately enrolled in and, thanks to his genuine interest, began to thrive! Out of 60 people, he and another guy grasped everything so well that they themselves began to teach.

Because he saw the need for it, and decided to answer this calling of his. As he put it:

"I said to myself 'people are not afraid of #Bitcoin, they're just scared of the unknown'"

By now… Gerardo is only 18 years old! You can go on, and read his inspiring story, told in his own words, right here.

The moral of the story is simple: do what you love, take risks, and explore new things.

TL;DR: Gerardo Moran, a young man from a small town in El Salvador, discovers Bitcoin, quits his job, becomes an expert, and eventually teaches cryptocurrency himself, emphasizing the importance of overcoming fear of the unknown and following your passions.

FACT #2BOLD MOVES

It's always exciting to discover how projects that are in their early stages amassed the wealth and influence to become prominent players in the world of crypto startups.

Here's a unique, and inspiring example.

Flashback to a decade ago, Dan Morehead, the CEO of Pantera Capital made a thrilling move with Bitcoin.

By that time, the fund had already been in operation for some time.

However, the tale that stands out is how the CEO in question was absolutely ecstatic to buy Bitcoin at $65, pouring $2 million of his very own money into the venture.

This bold move wasn't even influenced by the decisions of anyone else within the fund!

We invite you to delve into the letter he wrote at the time—it's absolutely brimming with passion! This audacious step by the CEO underscores the vibrant personal stories behind the grand-scale investments in the crypto world.

TL;DR: Pantera Capital CEO, Dan Morehead, displayed his enthusiasm and belief in Bitcoin by personally investing $2 million in the cryptocurrency when its price was $65, highlighting the individual stories and passion that drive large-scale investments in the crypto industry.

FACT #3MetaMask Level Ups Their Design

Check your wallets! MetaMask has finally updated their wallet's interface.

It has become much more pleasant to use, and it looks much fresher and more technologically advanced.

We have a simplified description of all the updates for you! Here's what's new:

Improved Layout: The layout has been revamped to be more understandable and intuitive, reducing visual noise. Information is now consolidated into one top row for easier visibility.

Simplified Connections: Connections to websites are made more apparent, and they're placed at the top right corner for easier user access and interaction with dApps.

Separated Account Selection and Menu Navigation: The account selection has been separated from the global menu navigation to avoid confusion. The account avatar is now located next to the name for the clear visual association.

Network Selector Relocated: The network selector has been moved to the top left corner of the header. Each network is now associated with a corresponding token, facilitating differentiation and enhancing user safety.

Overall Enhancement: These changes, while minor, collectively work towards making the Web3 journey easier and more efficient, and they were largely inspired by user feedback.

Oh, the endless world of wallets, each promising to be your perfect crypto companion! While MetaMask has rolled out some new features, we know there are other superstars in the wallet world, too! We're curious to see what new they're gonna bring to the table!

TL;DR: MetaMask has updated their wallet's interface.

FACT #4Massive ETH Sale

1inch (a DEX aggregator that sources prices from multiple DEXes to find the best prices for users) sold 11,000 ETH worth ~$20 million, initially causing worry among some that they were running out of funds.

But, there's a twist. This sale was, in fact, a test of their own product, the Fusion Function.

Fusion appears to be a marvel in the blockchain universe. Essentially, you don't need a gas token like ETH or BNB. Just toss your request to buy or sell tokens into the pool, and watch the magic happen. The transaction value starts a slow descent until another party swoops in and buys your coins, handling the gas fee themselves.

Think of your transaction like an item up for auction. The value dips bit by bit until another individual deems it worthwhile and snaps up your order. Best part? All this unfolds in under a minute!

Initially, you would have received 100 USDC for 100 USDT, then the transaction value drops, and you would receive 99 USDC for 100 USDT, and so on.

That's precisely how 1inch conducted their eye-popping 11,000 ETH transaction. Smooth, efficient, and at the best price, with no delays or MEV. Plus, courtesy of Fusion, the buyer covered the network fees.

This Fusion feature brings a fresh perspective to the table, pushing other DEXs to innovate to stay in the game. This is a testament to how competition in the DeFi sphere is fostering remarkable developments.

TL;DR: 1inch, a DEX aggregator, sold 11,000 ETH worth $20 million to test their Fusion Function, a new feature that allows users to trade tokens without needing gas tokens

SELECTED MEME OF THE DAY

BITE-SIZED NEWS

• PwC and Aspen Digital Shed Light on Crypto Custody's $448B Milestone in 2022. Despite the growing crypto custody market, the industry reportedly faces challenges with security and insurance.
• BIS Anticipates Up to 24 CBDCs in Global Circulation by the End of the Decade. If BIS calculations are correct, by 2030, there could be 15 retail and nine wholesale CBDCs.
• Terraform Labs Co-Founder Begins Legal Battle in South Korea Over Alleged Fraud. It is believed that Daniel Shin sold $118 million in LUNA right before the collapse of Terraform Labs' ecosystem.