KEYTAKEAWAYS
- Orderly proposes using 60% of protocol net revenue for ORDER token buybacks, aiming to reduce supply and improve staking and governance dynamics.
- Binance CEO warns of fake support calls exploiting API permissions. The scam highlights rising threats and the need for stronger user vigilance.
- SharpLink’s market cap drops below its ETH holdings, signaling potential undervaluation but also raising concerns over market sentiment and crypto-related risks.
CONTENT
ORDERLY COMMUNITY PROPOSES USING UP TO 60% OF PROTOCOL NET REVENUE FOR ORDER BUYBACKS
News Content: On August 26, the Orderly community launched a proposal to allocate up to 60% of protocol net revenue for regular ORDER token buybacks, while optimizing staking and VALOR mechanisms. Buybacks will use revenue from the prior two weeks, executed via TWAP. Half of the repurchased ORDER tokens will go to stakers (distributed as esORDER with a 3-month linear vesting), and the other half will enter a community governance wallet, with usage (burn, liquidity, incentives, etc.) decided by separate governance votes.
Analysis: The Orderly proposal to direct 60% of net revenue into buybacks could reduce circulating supply and support token value, with posts on X suggesting a potential 1–2% annual supply reduction. TWAP execution ensures price stability during buybacks, while splitting tokens between stakers and the governance wallet balances immediate rewards with long-term flexibility. This shift strengthens Orderly’s tokenomics, but effectiveness depends on sustained trading volume and active community governance.
BINANCE CEO WARNS OF FAKE BINANCE SUPPORT CALL SCAM
News Content: On August 26, Binance CEO Richard Teng warned of a scam involving fake Binance customer support calls asking users to change API settings. Scammers use spoofed numbers or VoIP to claim, “Your Binance account may be at risk. We need to adjust your API settings to secure your funds.” They then use new permissions to initiate withdrawals, moving crypto to wallets they control.
Analysis: This scam reflects growing sophistication in crypto fraud, exploiting user trust in Binance’s brand. Teng’s warning, echoed in Binance’s official X post, highlights the importance of API security and 2FA. Spoofed calls pose risks to user confidence if unchecked, though Binance’s proactive alert may reduce harm. Still, vigilance is critical, as similar scams could spread across other platforms, potentially shaking market trust.
SHARPLINK MARKET CAP FALLS BELOW ITS ETH HOLDINGS VALUE
News Content: On August 26, crypto KOL AB Kuai.Dong reported that SharpLink, known as the “Ethereum MicroStrategy,” has a stock market cap of $3.237 billion, while its ETH holdings are valued at $3.28 billion, meaning its NAV is less than 1. By contrast, competitor Bitmine’s market cap is $8.605 billion against $7.59 billion in ETH holdings.
Analysis: SharpLink’s market cap dipping below its ETH holdings suggests undervaluation, possibly due to operational risks or weak investor confidence. Meanwhile, Bitmine trades at a premium, showing stronger sentiment around its execution and scale. SharpLink’s discount could present a buying opportunity if fundamentals are solid, but it also reflects risks such as ETH volatility and regulatory pressures on firms with large crypto exposure.
