Select observations of the day:
On the same day that crypto exchange Gemini and many other crypto companies confirmed layoffs, Coinbase freezes hiring and will rescind accepted job offers due to the tumultuous recent market for both crypto and tech stocks - source
ApeCoin community Proposition 41: ApeCoin MUST remain within Ethereum, or within an L2 scaling solution secured by the Ethereum blockchain rather than migrate to other chains. Voting will end on June 8th and currently has 99.91% of the votes in favor - source
Japan's parliament passed a legal framework around stablecoins, providing a safety net for investors. The bill provides clarity around the definition of stablecoins which will now be considered as digital money and must be linked to the yen or another legal tender, guaranteeing holders the right to redeem them at face value - source
Plus more. Everyone keeps mentioning how many weekly down candles in a row we’ve had. 9 (so far :p). Have a great weekend. Use this time that the market is down to better yourself. Cheers
- Time moves differently in crypto. Crypto is an intricate game filled with various players operating across multiple time frames and with varying agendas. Day in, day out, the pieces are moving all across the board. Sometimes for the better and sometimes for the worse. Here’s a small glimpse of what has happened so far today in our little crypto bubble -
Chain News:
Ethereum-based stablecoin protocol Beanstalk fundraising campaign on June 6 to restore $77M in non-native assets lost from a governance exploit that drained $182M from the project in April - source
Review of UST-Depeg by Jump Crypto, one of the largest investors in Terra: Triggered by a particular sequence of trades in the UST/3CRV Curve pool. The strong crypto market selloff added additional pressure, which finally pushed UST depeg - source
GoDaddy publishes new article about .eth domains for their corporate clients, recommends “defensive registration” as best strategy for brands - source
Introducing STEPN’S Anti-Cheating System - SMAC: Utilizing AI to combat cheating, including GPS tracking, motion sensor and health data to detect anomalies - source
The Graph, a service that helps applications collect and interpret blockchain-based data, will urge developers to migrate to its Ethereum-based indexer network as it shuts down its centralized service by early 2023 - source
The Graph Foundation Awards Messari $12.5M in First-Ever Core Subgraph Developer Grant to Build and Standardize Subgraphs - source
MakerDAO - The Endgame Plan parts 1&2: an ambitious initiative that aims to create a finite roadmap for MakerDAO that step by step leads to a predetermined, immutable end state many years out in the future, while significantly improving governance dynamics - source
JPEG'd - Introducing The Citadel: an auto-compounding vault that harvests the CRV and CVX rewards - source
Polaris Finance will launch $ORBITAL on June 4th with liquidity mining via Genesis pools. Holders of Bitcoin, Polaris Liquidity Providers, and Stakers of $SPOLAR will be able to mint $ORBITAL for 24 hours - source
Protofire has deployed a Gnosis Safe fork - a leading smart contract multisignature wallet - to Evmos. Will enable Evmos users to securely store and transfer EVM-based tokens and ERC-20 Cosmos coins - source
Introducing: Zero One Automated Market Maker (ZAMM) - novel DeFi primitive that brings AMM-like passive liquidity to order book based derivative markets. Built directly on top of 01 Exchange and Serum’s perpetual derivative markets - source
MixBytes partners with Curve to create a stDOT+xcDOT pool on Moonbeam to make Polkadot staking more liquid and accessible - source
Celer cBridge Launches xAsset V2 to Support Omni-Directional Cross-Chain Transfers for Bridged Tokens - source
Astroport 2.0’s imminent launch on Terra 2: airdrop will go to astronauts who held ASTRO Classic (“ASTROC”) or xASTRO Classic (“xASTROC”) on Terra Classic before and shortly after UST’s depeg as of two snapshots - source
Metaverse News:
Warner Bros. has partnered with Nifty's to launch a Looney Tunes NFT collection - source
News:
Block has partnered with Apple to integrate Square payments with 'Tap to Pay' on iPhones - source
FTX has launched FTX Japan including spot trading and perpetuals - source
Brazilian Crypto Unicorn 2TM Lays Off Over 80 Employees citing “the changing global financial landscape.” Its main competitor in Latin America, Bitso, laid off a similar number of people last week - source
El Salvador's leaders still don't think the market conditions are right for the launch of the nation's much-hyped bitcoin bond - source
The New York Senate this morning passed a bill that imposes a moratorium on new proof-of-work cryptocurrency mining operations in the state - source
Central African Republic announces plan to tokenize country's minerals - source
Flint announced the official app launch on June 3rd on Play Store and App Store. Provides simple diversification to crypto users with returns up to 10% per annum on stablecoins - source
Upcoming Events - source
Raises:
BH Network has closed a $4M Private Fundraising Round - source
Recent private fundraising events among blockchain startups you should know about - source
New Listings:
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