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As a @DAO Labs #SocialMining enthusiast, I closely follow $ETH , $BTC and altcoins such as $BNB , #AVAX✅ , #MATIC✅ and #KAVA that are already buzzwords among the discerning investors and traders. Eric Balchunas of Bloomberg seems very sure that July 18 2024 will be the date for the spot Ethereum ETF launch. $ETHE, $CETH, $ETHA and $ETHV are already named but Invesco Galaxy, Franklin, Bitwise, and PRO Shares III have also either registered or updated their registrations.

Source: SEC EDGAR, July 13, 2024, for educational purposes only
So, what does that mean? Who and what are these? If you are asking yourself these, you are not alone. As  I am a beginner myself, I have been trying to understand through reading and research. Let us explore together to see if we can make sense of all these names and figures.
To start  with, the Dramatis Personae:
SEC, or the Securities and Exchange Commission. Currently chaired by Gary Gensler, SEC is responsible for looking after investor interests by policing the securities markets.
Ethereum. After Bitcoin, the most important cryptocurrency. In addition to its native Ether coin, its blockchain includes decentralized apps (Dapps) and non-fungible tokens (NFTs). (Let me know if you would like to know more about these, and I will write a separate article.) Since 2022, Ethereum has been using a system of coin creation called Proof of Stake (Basically, if you want to validate someone’s work, you need to stake your own coins first and this collateral is proof of your good faith, as you would lose more than you gain). This PoS makes it faster.
ETF.  Exchange-traded fund. Simply means you can use it to trade on the exchange markets.
Spot ETFs (Exchange-Traded Funds). If you hold a spot exchange-traded fund, you actually hold an asset. These could be cryptocurrencies, stocks, commodities or bonds. So, your asset price will reflect the current immediately available price of the asset.
Strategy ETFs (or Thematic ETFs). If you hold a strategy asset, you do not actually hold the asset. You use other trading tools, such as a futures contract. So the value of your asset will NOT reflect the current immediately available price of the asset.

Eric Balchunas (on X, @EricBalchunas): A senior ETF Analyst for Bloomberg, Eric Balchunas is known for accurately predicting some key ETF-related events.
$ETHE – Grayscale Investments’ product tied to ETH. Not an altcoin.
$CETH – 21Shares Core Ethereum ETF is another product tied to ETH. Not an altcoin.
$ETHA – iShares Ethereum Trust ETF is a third product tied to ETH. Not an altcoin.
$ETHV – VanEck's Ethereum ETF is yet another product tied to ETH. Not an altcoin.

So, these are our key named players. What do they do? Why should you care?
Cryptocurrencies are finally looking like they are here to stay, and more and more of the key players from previously skeptical sectors want a piece of the action. Following the success of Bitcoin ETFs, analysts such as the inimitable Mr Balchunas predict “ETH could capture up to 20% of the assets under management (AUM) that BTC ETFs have ”(See Source 5). Additionally, Spot ETFs are expected to open the crypto markets to investors who are not allowed to trade in crypto, such as 410(k) and IRA investors.
Are there disadvantages in spot Ethereum ETFs? Like with everything else in the world, yes. You cannot get staking rewards for your investment. Since these rewards themselves could be sizable, it is a choice you will need to make.
We as the Social Mining Community know that BTC is digital gold, and that ETH EFTs will break the door wide open for the altcoins we love and trust - BNB, AVAX, MATIC, KAVA, TON. Social Mining is for all markets bearish or bullish, but we do have our own projects that we root for.
It is an exciting time. With a potential Solana ETF move in the works, it could get truly lively. And, you. How will you go forward? What is your next move? Do tell!

Disclaimer: All the information provided in this article are for informative and educational purposes, and are not intended as financial advice. Any trades bear the risk of partial or total financial losses and must be approached with utmost caution. DYOR!
Sources:
SECNerdwalletNasdaqCointelegraphCryptopotato

With great pleasure, the #DAOLabs Core Team announces the Winner of the first Super Smash Miner Melee after 5 rounds of great work produced by 32 participants

🥇 @MetaverseJR , Gold Medal: 3,000 Points & 0.3 REP  (6750 Points, total)

🥈@Senator Skelz , Silver: 1,500 Points (5,250 total) & 0.2 REP

🥉@jclvll , Bronze: 800 Points (3,050, total) & 0.1 REP

We thank the participants and all the Miners who supported this challenge. Soon Soon, more events like this to compete in and expand the borders of #SocialMining

Thank you!

Here's the good news: #DAOLabs #SocialMining platform has rewarded Pinoy social miners with approximately $881 in assets for the content they produce with their commitment and passion for the community.

Congratulations to the winners: @mtd_396 @quijanoriza7 @Leah_1307 @jclvll @zenzcin@Caicay0120 @Vasquezİnday @iamcoinhuntress

  It's inspiring to see how the SocialMining community is benefiting from the global impact of blockchain technology. The rewards from $KAVA , $WAXP , #Polygon , $AVAX and #TON platforms are a testament to how blockchains are changing lives worldwide.

Let's talk about what makes their team stand out. Each of them appears to have different enhanced skills and/ or predispositions to a given work, thus making it a class collaborative work culture. Such success proofs not only achieve the successes of every single person but also become an evidential document for the social significance of Social Mining and its effectiveness and ability of social integration and financial security. Continue travelling as you shine on this new frontier of innovation, and may your journey inspire others to open the worlds of decentralized finance and community-supported projects.

@WAX Blockchain has announced MeromAI. Hopefully, this project will catch #Binance 's attention as well. Everyone knows about $BTC , $ETH , #DOGE , and $BNB , but there's a great need for such innovations in the #Bitcoin world.
What is MeromAI?
MeromAI is an open-source artificial intelligence (AI) platform powered by human contributions. It is the first AI project to operate with a token on the WAX blockchain.

Features of MeromAI:
Open Source: Uses AI models that anyone can contribute to and develop.
Decentralized: A system where everyone can contribute to shaping the future of AI.
Community Participation: Users can earn points by providing computing power, asking questions, and evaluating answers.
AI Training and Development: Users contribute to training and developing AI models.

Contributions to WAX Blockchain 🌐
MeromAI's operation on the WAX blockchain provides various benefits to the WAX ecosystem:
New Users: Attracts new users to the WAX community.
High Engagement: Ensures high engagement and participation among users.
Economic Activity: Increases economic activity as $AIMR tokens are traded on the WAX blockchain.
Technological Innovations: Leads technological innovations with MeromAI's decentralized AI vision.

Thousands have participated in the Weekly Challenge system,
which awarded $3600 - 100 each week over the past 36 weeks.

Meromai Phase 2 Roadmap

MeromAI and DAOLab's Social Mining 🛠️
MeromAI's community-focused approach is similar to @DAO Labs 's #SocialMining Both platforms reward users for their contributions:
Participant Rewards: Users earn $AIMR tokens on MeromAI, while those involved in social mining on DAO Labs are rewarded with #USDT and project tokens.
Decentralization: Both projects establish a decentralized structure by distributing control to community members.
Collaboration and Contribution: Encourage active participation of users, fostering the growth of their ecosystems.
MeromAI is shaping the future of AI with its open-source, decentralized, and community-focused structure. 🌍💡

While everyone is focusing on $BTC and $ETH , as a @DAO Labs #SocialMining enthusiast, I have my eyes on @WAX Blockchain and their integration with #MeromAI #artificialintelligence is a huge leap forward. Why? Let me count the ways.

We are all aware that blockchain is all about safety and security. According to #KPMG , that is why blockchain will be instrumental in solving the problems created by adoption of generative AI tools – especially in safeguarding information. That is why KPMG calls blockchain and artificial intelligence the new power couple.
However, the current AI models rely on the opposite of what Web3 stands for – they are centrally trained, centrally located and centrally controlled AI. That is where MeromAI enters the picture – a decentralized AI whose training is  done by anyone ready to stake in the project. In a sense, every one from Adelaide to Zhaoqing can have a say in the development and training of this wonderous technology. To prevent the shortsightedness of only including the WEIRD (Western, Educated, Industrialized, Rich, and Democratic) perspectives and biases, and even in those cultures, to stop elitism from tainting the future development of AI, we need such projects.

This human-AI, where responses, curation and ratings are all by the community, rather than Big Tech and Big Money is a revolution. As a social miner, I see the benefits of this community-minded approach:
Social Mining and Decentralized AI are both equitable and truly open to all.It is one's effort, hard work, ingenuity and dedication that brings success. Building up the community also builds up the project, so the focus stays on the individual and their prosperity.    
#WAXBlockchain will drive users and innovation, and one can earn $AIMR through responding, curating and rating. MeromAI is still in its infancy, but through its collaboration with WAX, its growth will definitely be worth watching.

Disclaimer: All the information provided in this article are for informative and educational purposes, and are not intended as financial advice. Any trades bear the risk of partial or total financial losses and must be approached with utmost caution. DYOR!

Sources:
MeromAI KPMGDaoLabs




$BNB