A chain for every app is the new crypto meta

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If you think the Ethereum L2 space is overcrowded, perhaps you’re not thinking big enough.

Granted, there are now more than 100 different satellite blockchains orbiting Ethereum mainnet, per L2Beat. 

Kraken is preparing to launch one more, Ink, which it aims to deploy on Optimism’s Superchain. It will be the Superchain’s 24th fully participating network.

L2s generally process transactions offchain — where it’s much cheaper — and periodically transmute them to Ethereum for proper settlement. 

The low fees and speed free developers to build apps that are otherwise too unwieldy…

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LATEST: Metaplanet’s Bitcoin Strategy Yields Impressive 116% for Shareholders

Tokyo’s investment firm Metaplanet has delivered a remarkable 116% yield on its Bitcoin investments this October, outperforming the previous quarter’s 41.7% yield significantly. The firm attributes this surge to its aggressive Bitcoin acquisition strategy, having added over 450 BTC to its portfolio this month, pushing its total to 855.5 BTC worth approximately $56.1 million.

Metaplanet has adopted the “BTC Yield” as a new key performance indicator (KPI), following in the footsteps of MicroStrategy, the top corporate Bitcoin holder. This innovative metric, which relates Bitcoin holdings to the number of fully diluted shares, aims to provide transparent and periodic insights into the firm’s financial maneuvers and asset management.

CEO Simon Gerovich emphasizes the KPI’s role in enhancing shareholder value through strategic Bitcoin acquisitions. Despite some inherent limitations, such as excluding debt considerations, the new reporting model promises to offer a clearer picture of how Bitcoin investments contribute to boosting shareholder returns. Metaplanet plans to continue these updates regularly, aligning with industry pioneers to refine their investment approach.

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LATEST:Microsoft Shareholder Suggests Bitcoin Investment Consideration

Microsoft’s upcoming annual shareholder meeting will feature a pivotal vote on whether to incorporate Bitcoin into the tech giant’s investment strategy. A shareholder advisory board has pushed for a detailed evaluation of Bitcoin’s role in Microsoft’s treasury operations, despite the board of directors advising against it due to concerns about the cryptocurrency’s volatility and the adequacy of current asset assessments.

The directors have expressed reservations, citing the need for financial stability and the unsuitability of volatile assets like Bitcoin in maintaining liquidity and operational funding. Microsoft’s established Global Treasury and Investment Services team continuously reviews a diverse range of assets, including those offering inflation protection and has previously considered digital assets in its risk management protocols.

Despite internal caution, the discussion at the December 10 meeting highlights growing institutional interest in cryptocurrency. As the debate around corporate crypto adoption intensifies, this proposal stands out among other agenda items, reflecting the evolving landscape of corporate finance in the era of digital currency.

SEC Filing