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DeFi, or decentralized finance, is one of the biggest things in the blockchain and cryptocurrency industry right now, and it does pretty much what its name suggests. That is, it uses blockchains, smart contracts and/or cryptoassets to deliver financial services to customers, be these loans, payments, remittances, derivatives, or investments.

Sun, 19 Jun 2022 16:00:19 GMT
🦄 Recap: DeFi Week of June 12

Well, this was the kind of week Defiers have long feared, a brutal selloff triggered by not one but two major projects going sideways.

First, there was the fallout from the decision by Celsius, the CeFi lender, to suspend withdrawals by its 1.7M depositors. Jason Levin covered the crisis and reported how a bank run threatened to drain the firm of capital.

No sooner had the market absorbed this sobering news than word came that Three Arrows Capital, the multi-billion crypto hedge fund that’s been such a huge supporter of DeFi projects, was facing serious margin calls. Aleksandar Gilbert reported how Three Arrows sold $40M of Lido’s staked Ether and dug into the significance of this liquidation. Jason followed later in the week with a story on how Three Arrows taste for leverage was sowing fear in the broader market about its potential collapse.

Meanwhile, Sam Haig unearthed an important development with two of the most influential DeFi projects: MakerDAO and Aave. Sam reported how MakerDAO members voted to freeze Aave’s ability directly borrow the former’s stablecoin, DAI. The move showed how one of the OGs in DeFi is being super careful with its exposure, and it’s the type of detail we love reporting at The Defiant.

Cami Russo and Robin Schmidt both served up incisive takes on the action. On Cami’s podcast, she spoke with the irrepressible Mati Greenspan, the CEO and founder of Quantam Economics, to get his dive on the state of play in the market. And Robin and his crew produced a series of Market Updates on Celsius and stablecoin pegs, as well as the news that Coinbase was shedding a fifth of its workforce.

Still, for all the fire and brimstone, the crypto market (in tandem with stocks) did stage a relief rally after the Federal Reserve raised rates 0.75% on Wednesday yet signaled it wasn’t committing to such sizeable hikes in the future.

We’re also excited about two new series at The Defiant. Yyctrader delivered the second column in our NFT Roundup franchise with a doozy of a story: Truth Labs revealed itself as the creators of the Goblintown collection. And Claire Gu debuted on The Defiant with our inaugural Bear Market Survival Guide. The first piece focuses on metrics investors should be eying in the market. We can’t wait for her next one!

Enjoy!

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ZetaChain is the first public L1 blockchain that natively connects with any chain and layer including Bitcoin and Dogecoin without wrapping or bridging assets. Dive into the docs to start building the future of multichain.

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Check out and subscribe to DeFi Alpha, a weekly newsletter by The Defiant and DeFi Dad, packed with tutorials and tips on how to earn yield in DeFi.

This week:Using Uniswap V3 To Dollar-Cost Average + Single-Sided LPs on Bancor V3
Podcast🎙 Mati Greenspan: Only Those Who Are Well Funded or Most Committed Will Make it Through the Bear

This week on The Defiant Podcast we speak to Mati Greenspan. Mati is the CEO & founder of Quantum Economics, a crypto research and advisory firm. Mati believes we’ll keep seeing pain in the market, with crypto and stocks remaining highly correlated, as long as inflation persists. He says most sectors of crypto will be hit by this crash, because of reduced liquidity from dwindling token treasuries, or because demand for their platforms and apps will dry up.

Only those well funded and committed teams will make it through, and any project that survives a bear will see huge gains in the next rally. Still, he remains as bullish as ever on crypto, and believes staking is nothing short of the future of finance, and that DeFi will continue experimenting with different economic models. While most will fail, those that succeed will change the world.

A heads up that this interview was recorded last week, right before the Celsius debacle, in case you’re wondering why we didn’t speak about the elephant in the bear market.

The Tube📺 Hot Stuff: Coinbase Dumps 18% of staff, 3AC on the rocks
📺 Quick Take: MARKET UPDATE: Ain't no party like a depeg party (USDD, USDT, stETH)
📺 Quick Take: MARKET UPDATE: Celsius, yes it's bad
📺 The Defiant Weekly: Andreesen Horowitz keeps buying web3 and crypto
Celsius Report🐂 Ethereum Bulls See Opportunity in Celsius Collapse, stETH ‘De-Peg

In which Aleksandar Gilbert digs into how staked ETH played a role in Celsius’ troubles.

stETHDePeg

Lido’s stETH, a derivative token representing staked ether, has traded roughly at par with Ether since its inception. The reason was simple: each stETH token represents one staked ETH token and can be redeemed for ETH in the future, after the Ethereum network completes its transition to the proof-of-stake consensus mechanism and withdrawals on that updated network are enabled.

That so-called “peg” broke in dramatic fashion last week, as the value of stETH relative to ETH began to plunge. stETH began trading at about 97 cents to every dollar of ETH in May. Early Friday morning, it fell to 95 cents on the dollar. On Monday morning, it was trading just above 93 cents on the dollar, according to data from Dune Analytics.

The nosedive in the value of stETH prompted Lido, the protocol that issues it, to quell fears of a broken peg and comparisons to Terra’s failed UST stablecoin.  

Three Arrows Report😧 Investors Scramble to Get a Grip on Depth of Three Arrows’ TroubleDetails on Debt Woes in $10B Crypto Fund Are Hard to Come By

In which Jason Levin takes stock of the jitters around the stories fund…

PossibleFallout3AC

The fear is palpable. Six weeks after Terra collapsed and one week after Celsius, the embattled crypto bank, suspended withdrawals, investors are anxiously watching a $10B hedge fund cope with serious stress. 

Three Arrows Capital is sitting on what are believed to be billions of dollars worth loans secured by cryptocurrencies. With the market down 56% this year in its worst bear market since 2018, investors believe the collateral no longer supports the loans. Now the fund is on the hook to start paying them back, and everyone is wondering whether it will default. 

On Wednesday, The Defiant reported that Three Arrows sold at least $40M worth of staked Ether as part of an apparent liquidation. It is widely believed that co-founder Su Zhu has been aggressive in using leverage to maximize his potential investment returns.

NFTales👹 Truth Labs Revealed as Team Behind GoblintownNFT Roundup: Traders Look to Offload JPEGs in a Wild Week

By yyctrader

Goblintown captured the imaginations of NFT collectors over the past month even as crypto markets burned. Now the team behind the project has unmasked themselves to be Truth Labs, whose previous NFT collections include the Illuminati Collective and The 187.

Of the 1,000 goblins that were retained by the team “because they wanted to”, 900 will be raffled to holders of the existing Truth projects over the next six months at the rate of five per day. And 50 goblins will be retained by the team and the remaining 50 will go to the llluminatiDAO.

The team also revealed that a “McGoblinburger truck” will make an appearance at NFTNYC, and shared plans for merchandise including “goblin sauce”.

Opinion👉🏼 With Crypto VC Booming It’s High Time to Close the Gender Gap in Web3

Guest writer Li Gong says Web3 needs to get its act together on diversity, now.

Diversity

A trickle has become a torrent in crypto venture capital. Despite rapid inflation and a bear market, VC investment in blockchain grew to $10B globally in the first quarter of this year. This marks the largest quarterly sum ever at more than double one year ago.

And yet, even as investors stampede towards crypto projects, women will not benefit from the funding bonanza. Less than 5% of crypto founders and less than 10% of crypto fund partners are women. And the numbers aren’t improving. 

As one of the few women funding crypto projects, I can tell you that this diversity gap is evident in my day-to-day. For example, out of the roughly 50 DeFi startups that I talk to, just one founder was a woman. This gender skew is now so baked into blockchain — in both funding and founding — it will take many years to undo. 

FridayNews

NFT Fund Starry Night Goes Dark on SuperRare In another sign of distress at Three Arrows Capital, an affiliated fund that had scooped up dozens of high-priced NFTs has moved much of its multimillion dollar collection into a single wallet, prompting speculation of an upcoming fire sale

Two Traders Targeting 3Pool Poleaxed Terra: Report The fall of Terra may feel like ancient history now. Two more major crypto ventures — Celsius and Three Arrows — have seized the attention of investors as they struggle to avoid Terra’s fate.

Merge Update: Devs Advance Closer to Eth2 With Major Step Next Week Despite the bear market, the Ethereum community still has The Merge to look forward to. And Ethereum’s devs are making significant progress.

USDC Issuer Circle Announces Euro-Backed Stablecoin  Circle, the issuer of USDC, will launch a new stablecoin pegged to the euro, the company announced Thursday. 

Elsewhere

'Few are Feeling OK': Celsius Investors Unlikely to Fund Bailout: Report: Decrypt

Ethereum price flash crashes to $950 on Uniswap as whale dumps 93K ETH: CoinTelegraph

Convicted scammer Anna Sorokin says she is now selling NFTs: NBC News

Apparently sETH pool is doing really well on those synth swaps: Curve Finance

ThursdayNews

MakerDAO Votes to Freeze Aave’s Direct Borrowing of DAI MakerDAO is taking no chances. As doubts about crypto credit rock the digital asset landscape, MakerDAO, the protocol behind the DAI stablecoin, voted on June 15 to temporarily disable Aave’s DAI Direct Deposit Module (D3M). 

Crypto Liquidations Spike to $480M in Last 24 Hours In a sign of the magnitude of the crypto crash, more than $1B worth of digital assets were liquidated on June 14, according to data from Coin Glass.

Nansen Bets Web3 Messaging Will Deter Hacks and Spa Competition to become the go-to crypto native messaging platform is intensifying with data analytics platform Nansen joining the race.

Markets

Crypto Markets Sustain Rally After Monster Rate Hike Crypto markets sustained the rally triggered Wednesday when the Federal Reserve raised benchmark interest rates 0.75%, the biggest hike since 1994.

DEX Trading Volume is About to Drop Below CEX Volume for the First Time in Over a Year Decentralized exchanges have been one of the success stories of DeFi, beating out their centralized counterparts last year.

DeFi Tutorials

Bear Market Survival Guide: The Metrics You Need to Know in a Tough Market Yes, it’s a bear market, and everything looks grim. But that doesn’t mean investors should despair. Indeed, there are number of steps you can take to evaluate the crypto market at this juncture.

Elsewhere

Inside a Corporate Culture War Stoked by a Crypto C.E.O.: The New York Times

A Manhattan Landlord Listed His Office Building in ETH as an NFT. Then Its Price Dropped $12M: CoinDesk

Mark Cuban: Crypto Firms Sustained by 'Cheap, Easy Money' Will Disappear in Crash: Decrypt

Proud partner alert @redlion_news released the second edition of their generative art magazine, ARTCODE: Art Blocks

WednesdayNews

Rumors Swirl About Financial Stress at Three Arrows On-chain data has prompted speculation that Three Arrows Capital, a crypto-focused, Singapore-based hedge fund, is insolvent and may become the latest high-flying company to crash in the bear market. 

Coinbase Leads Wave of Layoffs as Crypto Girds for Rough Stretch First came the market collapse. Now come the layoffs. When Coinbase announced it was laying off almost a fifth of its staff, or 1,100 employees, on Tuesday it was clear a tough period for the young cryptocurrency industry is about to get a whole lot tougher. 

OpenSea To Slash Gas Fees by a Third With Shift to Seaport Protocol Well, finally! For months now, NFT collectors have been chafing at a raft of issues bedeviling OpenSea’s platform, from high gas fees to its inability to let buyers bid on collections and multiple pieces instead of just individual images. 

Elsewhere

Crypto lender Celsius mulls possible restructuring amid financial woes: WSJ: The Block

Tether Denies Claims of Asian Commercial Paper Backing, Exposure to Three Arrows Capital: CoinDesk

Fed begins quantitative tightening on unprecedented scale: The Financial Times

#NEAR is the first blockchain supporting full fledged #javascript integration: Near Protocol

TuesdayNews

Uh-oh! Tron’s Stablecoin USDD Slips its Peg as TRX Tumbles Tron’s algorithmic stablecoin USDD appears to be in trouble despite recent moves from the Tron DAO to overcollateralize the token.

Celsius Freeze on Withdrawals Craters Crypto Market Crypto lending platform Celsius has frozen accounts of its 1.7 million users, further undermining trust in the digital assets space on a day with double-digit losses for Bitcoin and Ether and just weeks after the Terra collapse.

One Group Doing Just Dandy This Week: MEV Extractors While the bear market has wreaked havoc for many traders, there is one group in crypto that is doing just fine. They’re deploying an obscure tactic involving blockchain mechanics that’s paying off handsomely.

Market Roundup

Crypto Investors Dig In For Long Winter as Market Erases Two Years of Gains It happens in every bear market — total capitulation. For months, investors hang on to the hope that the market will shake off a short-term funk and get back to its bullish ways. Then bam! Something happens and the market knows… This is going to be a long-term bummer. 

Elsewhere

Crypto Lender Celsius Taps Horizen for 'Proof-of-Reserves' Proof of Concept: CoinDesk

The Fed May Discuss the Biggest Interest Rate Increase Since 1994: The New York Times

A Memo to the Celsius Community: Medium

A new Signal Request proposes to temporarily set the @AaveAave D3M Debt Ceiling to zero: MakerDAO

💜Community Love💜

Thanking all the amazing Defiers for the support and love this week (and always)!

🧑‍💻 ✍️ Stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Claire Gu, Samuel Haig, Jason Levin, and yyctrader, and edited by Edward Robinson, yyctrader and Camila Russo. Videos were produced by Robin Schmidt and Alp Gasimov. Podcast was led by Camila, edited by Alp.

Subscribe now

The Defiant is a daily newsletter focusing on decentralized finance, a new financial system that’s being built on top of open blockchains. The space is evolving at breakneck speed and revolutionizing tech and money. Sign up to learn more and keep up on the latest, most interesting developments. Subscribers get full access, while free signups get only part of the content.Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button above ($15/mo, $150/yr.

Enclosure: Array
Wed, 22 Jun 2022 14:33:16 GMT
🌡 Celsius Defies Fear of Implosion as Token Soars 218%

Hello Defiers! Here’s what we’re covering today:

News

Uniswap Buys Marketplace Genie to Integrate NFT Trading Into its DEX

Maple Provided $10M In Unsecured Loans To Babel Finance

‘All Operations Are Normal’ Says Bankman-Fried as FTX Provides $250M Credit to BlockFi

Synthetix Now Among Top-Earning Crypto Protocols After Atomic Swaps Take Off

Markets

Celsius Defies Fear of Implosion as Token Soars 218%

Metaverse

Time Magazine and The Sandbox to Rebuild NYC in Metaverse

Video

Quick Take: BAYC Nazi story threatens to overshadow NFT.NYC on the ground report

Elsewhere

Doodles NFTs Announces Pharrell as Chief Brand Officer, Fundraise Led by Alexis Ohanian: Decrypt

Alex Mashinsky, Celsius founder feeling the heat: The Financial Times

My 40-liter backpack travel guide: Vitalik

Vibe. Build. Ship. The devs at the Solana x @jump_Hacker House in London were building the future: Solana

Trending in The Defiant

Uniswap Tops Ethereum in Terms of Daily Fees

Lido Proposes ‘Dual-Governance’ Scheme to Quell Ethereum Centralization Fears

Yuga Vows ‘Slow and Thoughtful’ Approach to Reviving CryptoPunks

The open economy is taking over the old one. Subscribe to keep up with this revolution. Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button below ($15/mo, $150/yr).

Subscribe now

🙌 Together with: 

Eden Rocket RPC, providing the fastest private transactions on Ethereum (90%+ hashrate). Trade better anywhere on Ethereum with Eden Rocket RPC.

ZetaChain is the first public L1 blockchain that natively connects with any chain and layer including Bitcoin and Dogecoin without wrapping or bridging assets. Dive into the docs to start building the future of multichain.

dYdX Grants is powering the future of dYdX through community grants. Join us to build on top of the largest decentralized perpetuals exchange!

Market Action🌡 Celsius Defies Fear of Implosion as Token Soars 218%

By Owen Fernau

CelsiusWithdrawalsPaused

HIGHER After crypto lending platform Celsius suspended withdrawals of deposits last week, it seemed unlikely that its native token would move higher. Yet the crypto bank’s CEL token has soared 218% since June 13. What gives? A short squeeze, that’s what. 

CEL has spiked since withdrawals were suspended. Source: CoinGecko

SQUEEZE It appears that investors have joined forces and started buying the token to put pressure on short sellers who were profiting from Celsius’ troubles. The move brings to mind the squeeze meme stonks fans exerted on hedge funds who’d sold short GameStop back in early 2021. The hashtag “#CelShortSqueeze” has gained momentum on Twitter.

BANK RUN According to the developing narrative, investors have targeted the CEL shorts as the same actors who triggered the bank run that caused Celsius to freeze withdrawals.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

DeFi Deals🤝 Uniswap Buys Marketplace Genie to Integrate NFT Trading Into its DEXThe Acquisition Amount was Not Disclosed

By Jason Levin

UniswapBuysGenie

NEWS Uniswap Labs is planning to integrate NFTs into the largest decentralized exchange via the acquisition of Genie, an NFT marketplace aggregator, according to a post on the company’s website. 

DEAL Genie, founded in 2021, allows users to buy NFTs from across different marketplaces in a single purchase. This acquisition comes less than two months after NFT marketplace OpenSea purchased Genie competitor Gem.

30 DAYS Genie had 18,061 transactions and 8,050 ETH ($14.2M) traded in the last 30 days, according to Dune Analytics. This compares with Uniswap V3’s trading volume of $129.35B over 483,562 transactions in the same time period, according to DappRadar.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

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Nexo’s fundamentals are in place to keep your funds safe and to provide you with confidence that regardless of market conditions you can rely on your assets. We urge you to read more about these features and our sustainable practices on our Security page.

DeFi Lending🌳Maple Provided $10M In Unsecured Loans To Babel Finance

By Samuel Haig

Babel10MLoanAfterPausingWithdrawals

STRESS TEST The DeFi primitive of uncollateralized lending is undergoing its first major stress test. On June 17, Babel Finance, a Bitcoin financial services company offering lending and asset management services, suspended redemptions and withdrawals citing “unusual liquidity pressures” amid recent market volatility. On June 21, Maple Finance confirmed that one of its lending pools had previously provided a $10M loan to Babel. 

STRUGGLES Babel, which closed an $80M funding round in June, has a valuation of $2B and has raised $120M in equity financing since 2018 from Circle and other backers. Its troubles come at a time of acute stress in the crypto markets as the failure of the Terra ecosystem in May, followed by the struggles of Three Arrows Capital and Celsius, a crypto bank, have been whipping up fears that more disasters are looming.

EMERGENCY On June 20, Babel’s team stated that it had alleviated its liquidity situation after reaching preliminary agreements with major counterparties and customers regarding the repayment of debts. Babel also noted it had “carried out an emergency assessment of the company’s business operations to understand the company’s liquidity status.”

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Crypto Bailouts💰 ‘All Operations Are Normal’ Says Bankman-Fried as FTX Provides $250M Credit to BlockFiCredit to Be Used 'As Needed'

By Aleksandar Gilbert

FTXBailsBlockFi

CREDIT BlockFi, a crypto lending platform, has secured a revolving line of credit of $250M with FTX, the second-largest crypto exchange by trading volume, leaders of both companies said Tuesday. 

BALANCES BlockFi CEO Zac Prince said the credit would be used “as needed” and would be “subordinate to all client balances across all account types.” The move was announced only days after Prince took to Twitter to quell rumors the lending platform, with about $15B in assets under management, would go the way of competitor Celsius, which froze withdrawals on its accounts. 

TURMOIL Crypto traders have become concerned plummeting digital asset prices and turmoil in multi-billion dollar hedge fund Three Arrows Capital, which have already destabilized firms including Celsius and Babel Finance, could cause other dominoes to fall. Some investors worried BlockFi could be one of them.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

📈 Synthetix Now Among Top-Earning Crypto Protocols After Atomic Swaps Take Off

By Owen Fernau

SNXFeesUp

TRADE SPEED Synthetix is taking off after a proposal to increase trade speed was approved. Synthetix’s token SNX, fees generated by the protocol and volume are soaring after Synthetix Improvement Proporsal 120 passed, removing a previous buffer between trades of synthetic assets, called Synths and increasing trading speed.

FEES Daily fees have jumped by a multiple of over 19 to $718,500 in the last month, making it the fourth-highest earning blockchain protocol tracked by cryptofees.info. The protocol ranked third in terms of fees on June 19, when SNX stakers earned over $1M. 

Top four crypto platforms by fees. Source: cryptofees.info

Synthetix’s token is also soaring. SNX is up 56.5% to $2.92 in the past week.

SNX token. Source: CoinGecko

👉READ THE FULL STORY IN THE DEFIANT.IO👈

DeFi Trading😡 Bancor Suspends Impermanent Loss Protection in ‘Hostile Market’ One of the First DeFi Platforms Takes Fire from DeFi Community

By Aleksandar Gilbert

BancorILProtectionTurnedOff

MARKET CONDITIONS Bancor, one of the first DeFi trading platforms, suspended its impermanent loss protection program over the weekend due to “hostile market conditions,” prompting cries that it was decentralized in name only. 

POOL Liquidity providers on automated market makers such as Uniswap can suffer so-called impermanent loss (IL) if the value of their deposited tokens rises on the secondary market. In such a scenario, liquidity providers would earn more by simply holding their tokens instead of depositing them in the liquidity pool. 

LOSS Since introducing impermanent loss protection in late 2020, Bancor has compensated liquidity providers who suffered impermanent loss with the protocol’s native token, BNT, which they could then sell to recoup their loss. 

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Metaverse🌃 Time Magazine and The Sandbox to Rebuild NYC in Metaverse

By Samuel Haig

TIMESSquare

APPLE Mainstream media outlets just can’t get enough of NFTs. First it was the Associated Press, then The New York Times. Now Time magazine, the 99-year-old publication that once set the agenda for the most powerful people in the world, is taking a bite from the, ahem, apple.

DOUBLE-DOWN The publication has joined forced with The Sandbox, an Ethereum-based metaverse, to create a virtual space inspired by the biggest apple of them all, New York City. “Time double-down on their metaverse play by partnering with The Sandbox is massive news for anyone in the space,” Kieran Warwick, co-founder of metaverse game Illuvium, told The Defiant. “The more mainstream brands we can get transitioning into web3, the quicker we can reach mass adoption.” 

LAND The collaboration was unveiled on June 21 as part of the NFT.NYC event. Time’s NFT initiative, TIMEPieces, will launch the space on a virtual land plot in The Sandbox. The project, inevitably, is dubbed TIME Square.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

The Tube📺 Quick Take: BAYC Nazi story threatens to overshadow NFT.NYC on the ground report
Elsewhere🔗 Doodles NFTs Announces Pharrell as Chief Brand Officer, Fundraise Led by Alexis Ohanian: Decrypt

Ethereum NFT project Doodles made a pair of significant announcements at an event hosted alongside the NFT NYC conference tonight, revealing that musician and producer Pharrell Williams will join the project and that it has raised its first round of funding led by venture capital firm Seven Seven Six.

🔗 Alex Mashinsky, Celsius founder feeling the heat: The Financial Times

Crypto lending group faces crisis of trust after blocking its 1.7mn customers from making withdrawals.

🔗 My 40-liter backpack travel guide: Vitalik

I have lived as a nomad for the last nine years, taking 360 flights travelling over 1.5 million kilometers (assuming flight paths are straight, ignoring layovers) during that time.

Trending in The Defiant

Uniswap Tops Ethereum in Terms of Daily Fees There’s always a bull market somewhere. Today, that somewhere may be Uniswap, one of DeFi’s most recognizable decentralized exchanges. With $4.3M in fees generated in the past 24 hours, Uniswap has surpassed even its home network, Ethereum, as of June 20. In fact, the decentralized exchange (DEX) has jumped to the top of CryptoFees’ leaderboard.

Lido Proposes ‘Dual-Governance’ Scheme to Quell Ethereum Centralization Fears Wary of “cartelization”, core members of the Lido team have proposed changing the way the liquid staking protocol is governed.

Yuga Vows ‘Slow and Thoughtful’ Approach to Reviving CryptoPunks

CryptoPunks are done playing second string. That’s the upshot of the news that Yuga Labs, the NFT studio that manages the CryptoPunks collection as well as the blockbuster Bored Ape Yacht Club franchise, has poached Noah Davis from Christie’s as a brand lead for the punks.

🧑‍💻 ✍️ Stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Claire Gu, Samuel Haig, Jason Levin, and yyctrader, and edited by Edward Robinson, yyctrader and Camila Russo. Videos were produced by Robin Schmidt and Alp Gasimov. Podcast was led by Camila, edited by Alp.

Subscribe now

The Defiant is a daily newsletter focusing on decentralized finance, a new financial system that’s being built on top of open blockchains. The space is evolving at breakneck speed and revolutionizing tech and money. Sign up to learn more and keep up on the latest, most interesting developments. Subscribers get full access, while free signups get only part of the content.Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button above ($15/mo, $150/yr. 

Enclosure: Array
Fri, 01 Jul 2022 19:27:28 GMT
⍺ DeFi Alpha: Become a Curve LP for sETH/ETH and Boost Returns with Convex

DeFi Alpha is a weekly newsletter published for our premium subscribers every Friday, contributed by Defiant Advisor and DeFi investor at 4RC, DeFi Dad, and our Degen in Chief yyctrader. It aims to educate traders, investors, and newcomers about investment opportunities in decentralized finance, as well as provide primers and guides about its emerging p…

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Enclosure: Array
Fri, 24 Jun 2022 22:51:52 GMT
⍺ DeFi Alpha: Set Sail On The Arbitrum Odyssey

DeFi Alpha is a weekly newsletter published for our premium subscribers every Friday, contributed by Defiant Advisor and DeFi investor at 4RC, DeFi Dad, and our Degen in Chief yyctrader. It aims to educate traders, investors, and newcomers about investment opportunities in decentralized finance, as well as provide primers and guides about its emerging p…

Read more

Enclosure: Array
Wed, 22 Jun 2022 19:03:05 GMT
Gmoney on NFT Projects That Will Make it Through the Bear

Gmoney is one of the most prominent NFT collectors in the space, breaking into the scene with a splash when he bought a crypto punk for 140 ETH last year.  He rose to become one of the best-recognized NFT collectors and is now becoming a creator himself with his Admit One project. 

Gmoney dives into how the current market crash is affecting NFTs. In his previous life, he was a trader in traditional finance and we talk about how he went from trading stocks to trading non-fungible tokens full-time. The state of the bear market has rapidly spread a sense of fear, but NFT creators are still innovating. Gmoney talks about the most exciting trends and projects.

NFTs are a form of representing digital identity and an access point to communities. But what more can NFT’s do? In the grand roadmap of NFT’s, where will the space go in the next 5-10 years? And will they grow to become more than art and collectibles?

Podcast audio and video was edited by Daniel Flynn and Alp Gasimov. Transcript was edited by Samuel Haig.

🎙Listen to the interview in this week’s podcast episode here:
📺 Watch the video here:

🙏 Thanking our podcast sponsors:

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👀 Only paid subscribers have access to the full interview transcript below.

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Enclosure: Array
2022-06-27T23:36:04+00:00
Enclosure: Array
2022-07-05T03:45:12+00:00
Enclosure: Array
2022-06-25T05:44:37+00:00
Enclosure: Array
2022-07-02T06:55:28+00:00
Enclosure: Array
2022-06-27T15:50:06+00:00
Enclosure: Array