Crypto Daily Sentiment, Vibe, Topic, Stories of the Day -
Monday, March 28th:
Bitcoin has broken out of 2 month consolidation range. Bullish burst btc to ~ 48k, eth ~ 3400. Ended day by retracing
Cow coin hype - doesn’t end day strong - chart
European Union proposes crackdown on non-custodial crypto wallets
CashioApp $52M exploiter speaks out, will reimburse wallets who lost < 100k - source - official statement
Pudgy Penguins delisted by Opensea - source
NEAR, LUNA, AVAX - leading majors. GMT, JPEG, JEWEL, GNO - stronk. Filecoin, HOT, ICP, and other storage sectors coin pumped. Lots of alts recovering
Will Smith slapping Chris Rock memes spamming the TL
A $350,000 Bored Ape NFT was sold for $115 - source
JPEG'd DAO proposal to purchase up to $15m worth of CVX
Tuesday, March 29th:
Axie Infinity’s Ronin Network $625M exploit - largest exploit in DeFi history. 173,600 Ethereum and 25.5M USDC. Occurred 6 days ago. Funded from Binance and moved some funds to FTX and Crypto.com - fake KYC accounts? Will funds be frozen and unmovable? - source
Luna ATH - goes mostly unnoticed
CoWDAO closes a $23M investment round
OpenSea launching Solana NFT support in April - source
In the last fortnight, Google searches for ‘Ethereum Merge’ have hit an ATH
MacroStrategy, a subsidiary of MicroStrategy, has closed a $205 million bitcoin-collateralized loan with Silvergate Bank to purchase bitcoin
Hedera Hashgraph $155M fund to drive DeFi development
DeFi index approaching 200D ema
Wednesday, March 30th:
Crystalvale launch: DFK Chain goes live, along with the Bridge and the DEX. The summoning, tavern, or quests will come at a later date. Looking to ensure that the RPCs will be able to support the volume. Was getting 100k RPC calls per minute first day
Shattered EON NFT minting live - source
Sequoia Capital, Andreessen Horowitz, FTX Ventures co-led a $135M Series A+ investment in LayerZero Labs
Terra Buys another 2,943 BTC worth $140M to build its stablecoin reserves. Terra founder Do Kwon said that they will become the world's largest single Bitcoin holder other than Satoshi Nakamoto in the future
Sky Mavis COO vows to compensate victims in the $625M Ronin hack
EU's MiCA bill to enter next phase of negotiations on Thursday
$540M worth of bitcoin from 2014 move. Possibly linked to Cryptsy theft
Helium crypto wireless network founders raise $200M, rebrand to Nova Labs
Azuki set a collection record with a $1.42M sale
Crypto Raiders announced a $6M funding round co-led by DeFiance Capital Delphi Digital
Thursday, March 31st:
EU Parliament votes to impose KYC on private crypto wallets
Zilliqa continues quadruples this week after reports that it will launch Metapolis, a metaverse-as-a-service built on Nvidia Omniverse in April
Voltage Finance exploited for $3.6 M via Ola Finance on the Fuse Network by taking advantage of a reentrancy vulnerability
BNY Mellon to custody assets backing Circle's USDC stablecoin
Binance becomes official crypto exchange partner of 64th Grammy Awards on April 3rd, ft. NFTs via the OneOf marketplace issued on Tezos
Fantom 335M FTM (~$480 million) Incentive Program in partnership with Gitcoin Grants
Polkadot, Acala and Karara integrating with Wormhole
Composable Finance Raises $32 Million in Series A
A16z leads $4.8M round for P2E gaming startup Battlebound
Blockchain.com reportedly secures $14 billion valuation
1,000,000,000 USDT minted at Tether Treasury
Shiba Inu unveils metaverse with 100,595 land parcels - will use Ethereum for its land pricing
30% crypto tax becomes law in India following Finance Bill approval
Friday, April 1st:
Azuki airdropped empty boxes of dirt - April fools or what TBD
Vitalik Buterin “In Defense of Bitcoin Maximalism” essay is richly ambiguous and sarcastic
Bored Ape Yacht Club discord channel suffered a phishing scam
Opensea is partnering with MoonPay to allow credit and debit card NFT purchases
Cross-chain protocol Wormhole is staging a private token sale in a bid to raise nearly $200 million
Fractal, a marketplace for Solana gaming NFTs, has raised a $35 million seed round
Phala Network has announced that it has won the 13th parachain slot auction on the Polkadot network
Harmony Protocol approved grants for 24 projects in March from its $300M Ecosystem Fund
The 19 millionth bitcoin has been released
Saturday, April 2nd:
InverseFinance hacked for $15.6M using a complex / efficient MEV style attack technique
Concave is live
Introducing the 4pool: Terra - Frax - Redacted. - source, source
The Pudgy Penguins NFT project is under new leadership after the close of a long-awaited 750 ETH ($2.5 million) sale to LA-based entrepreneur Luca Netz
Quiet Weekend Vibes
Sunday, April 3rd:
Quiet Weekend Vibes
Waves CEO calling out Alameda Research controversy - source
Near feels like it will be the next ecosystem to run. The chart looks good, there is tons of incentive money and developer activity. However their marketing is subpar. Don’t hear about them nearly as much as avax or luna - yet.
Reminiscences of an Anon: Weekend Thoughts
Weekend epilogue: This week we saw Axie Infinity’s Ronin Network $625M exploit. Crystalvale: DFK Chain Avalanche subnet went live. EU Parliament voted to impose KYC on private crypto wallets. OpenSea announced launching Solana NFT support this month. Terra founder Do Kwon has been hard at work on becoming the world's largest single Bitcoin holder other than Satoshi Nakamoto in the future. Azukis have been blowing up and we saw an interesting airdrop strategy. Michael Saylor $205M bitcoin-collateralized loan to purchase more bitcoin. Cow coin went from being hype to chopped liver real quick. $135M Series A+ investment in LayerZero Labs plus tons more money being raised, as usual. Multiple smaller exploits and hacks, integrations, ecosystem incentive funds, partnerships, mainnets going live, announcements, governance proposals, new listings, mintings, honestly just glance through the subsack - there’s a lot. Arthur Hayes came out with a new article this week. He has seemingly flipped bullish since his last article and expects a huge run on ETH by the end of the year to $10k. On one hand, the tense and unsure macroeconomic environment (fucked global supply chains, inflation, skyrocketing food/gas/rent prices) doesn’t just disappear because no one is talking about it.. and on the other, the crypto markets, primarily the NFT, gaming, metaverse, Defi and infrastructure sectors have been inundated with fresh capital in recent weeks and months. There is definitely interest in the market despite the macro factors weighing us down. 2022 and beyond will be very interesting and it really does feel like the world has stopped making sense. Find attached my usual (very long) list and overview of the weekly goings on. The crypto space has absolutely not been a ghost town and there’s activity in every which direction. Absorb it in and let it tell you a story from which you can identify overarching themes, trends, issues and narratives as they develop in real time. Till next week.
Five Ducking Digits - Arthur Hayes - An outline of the main ideas
tl;dr: Believes ETH will be trading north of $10,000 by end of year. Bullish Bitcoin and Ether
Fiduciaries only exist to siphon money from trusting clients - by earning commissions
But what if you can convince the world that Ether is simply an infinite duration bond? New set of fiduciary clowns can be mentally primed to allocate into the ecosystem
The bedrock of global fiat credit markets is the ability to create a debt asset — which is just a loan to some entity — and then take that debt asset and use it as collateral to borrow even more money. That is how the flywheel of leverage juices the global economy
Shows math and concludes that stETH should slowly trade at a larger and larger premium to ETH
Systemic risk exists from derivative products but will have a lot to say in the future about promising projects that begin to utilize this new pool of collateral to do innovative things and bring life to the ETH fixed-income markets in a decentralized fashion
Bitcoin is pure money and intrinsically yields nothing. Ether is the commodity that powers the world’s largest decentralized computer. Ether will, post-merge, feature an intrinsic yield. What Saylor — or any other high yield issuer — should do is issue debt and purchase ETH
L1 upstarts command hundreds of billions of dollars of crypto market cap. And in 2021, their prices surged. Now that ETH is on the cusp of the merge and shift to POS, which may or may not bring performance enhancements, will ETH outperform on a relative basis vs. these other L1 coins?
Electric Capital published a very important and insightful research piece which estimated the number of active developers on each of the major chains. A public blockchain is built to be used. If there are only a few developers creating new projects on a given chain, that chain will never become valuable
Expects ETH to significantly outperform any L1 chain that constructed a narrative that it is “faster and cheaper” than Ethereum. That narrative worked from 2020 to the end of 2021, but now Ether supports extremely positive price fundamentals from a flow of and return on capital basis
Shows data and concludes ETH (and Bitcoin) are risk assets just like big tech US equities. No bueno!
“Believe ETH can trade down in USD terms by 30% to 50%. Until either the broad risk asset market crashes, or ETH’s short-term correlation begins to fall vs. the Nasdaq100 or S&P 500, I will not sell fiat and buy ETH."
His target portfolio allocation is 25% Bitcoin and 75% Ether up from 50:50
Bitcoin must be viewed as a store of value and an inflation hedge, as it is the hardest form of money ever created. Ether is not money — it is a commodity that powers the world’s largest decentralized computer. The Ethereum community clearly decided that ETH is a commodity used to power this computer, not a pure monetary instrument
The Wormhole and Ronin (Axie Infinity) bridges lost users’ funds to the tune of almost $1 billion. At its core, these bridges are the ecosystems’ attempt to import all the amazing dApps built natively on ETH onto the Ethereum-killers’ faster and cheaper blockchains. If traders tire of worrying whether their bridge will be the next to implode, they may just migrate their TVL and business back to ETH
Ridden the current ups and downs, and is happy with the relative size of his crypto portfolio ETH allocation. The rest of 2022 is going to be the year of the ERC-20 angels led by his highness Vitalik
- 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 glimpse of what has happened so far this week in our little crypto bubble -
Chain News:
The second-largest hack in Solana history, Cashio (the largest is Wormhole), released a post-mortem report, with a loss of $52 million. Officials say there is no funds to compensate, if the hackers return, they will receive a bonus of $1 million - source
A DeFi Magic Trick and the Hidden Jewel of the $COW AirDrop: $GNO - source
A16z created a tool to enhance consumer protection, increase security, and protect people’s privacy in airdrops using zero knowledge proofs. Claiming tokens in this manner mixes the recipients’ public addresses with those of all other users - source
Glitter Finance Creates Algorand-Solana Bidirectional Bridge - source
Blockone shareholder Brock Pierce said that he has sold his shares (including 24K BTC, Builtish exchange) into EOS. In November last year Blockone had sold 45 million EOS to Brock Pierce - source
Move to Earn program STEPN on Solana has announced that it will accept BNB payments. STEPN received investment from Sequoia India, listed on Binance Launchpad and received investment from Binance. The official said that DAU has reached 100,000 and will open to BNB Chain soon - source
British crypto ETP issuer, ETC Group has launched three crypto exchange-traded products that track the price of Avalanche (AVAX), Cosmos (ATOM), and Polygon (MATIC) - source
Tezos Scalability Plans/Roadmap Including Rollups, Sharding, etc. Released by Key Ecosystem Dev Team - source
Humble Swap, a new DEX, Launches Today on Algorand - source
Do kwon confirmed three addresses associated with their Bitcoin purchase. It looks like they had ~$2.2B in Tether and USDC and then ~$420M LUNA. So far, they purchased more than $1B worth of Bitcoin - source
Revest Finance exploited - source
Post-mortem Panther's Polygon staking bug - source
Gearbox fixed vulnerability related to uniV3 flow, Deployed & connected new uniV3adapter, Unpaused the protocol, Paid $150,000+ whitehat bounty, No bad debt during the outage - source
Introducing Muffin, an AMM protocol that supports concentrated liquidity and multiple fee tiers in one pool. Plus more features - source
JPEG'd Snapshot page is now live with first proposal. PIP-01: Authorize the DAO to purchase up to $15m worth of CVX - source
Avalanche Foundation Challenges winners. $20k each to 5 projects - source
Introducing Token Faucet, a simple faucet for tokens on all testnets - source
Atlantis World, Web3 Social Metaverse - story - source
PleasrDAO 1 year anniversary - timeline of milestones - source
Meet Voyager, StarkNet's block explorer: An essential piece of the StarkNet ecosystem - source
First 11 parachains live on polkadot overview - source
In the last fortnight, Google searches for ‘Ethereum Merge’ have hit an ATH- source
Cardano NFT marketplace Fractal Hoskinsea launches $HSK token private sale - source
KuCoin Exchange Targets Ultimate Decentralization: KCS Whitepaper Released - source
MacroStrategy, a subsidiary of MicroStrategy, has closed a $205 million bitcoin-collateralized loan with Silvergate Bank to purchase bitcoin - source
FTX has partnered with TradingView - source
MetaMask Mobile v4.3.1 is LIVE with some updates: has Visa and MasterCard credit card (ApplePay) support, more transparency when interacting with sites and support for gasless transactions where relevant - source
zkSNACKs' Blacklisting Update: Two weeks ago, zkSNACKs announced it is going to refuse certain UTXOs from registering to coinjoins. “we broke one of the largest taboos of Bitcoin: blacklisting, to achieve something greater” - explanation letter - source
Compound passed Proposition 92. Since most COMP being distributed is instantly sold off, users and token holders are at a great disservice. This proposal is the first step towards launching the new rewards program - existing rewards are being cut by 50% - source
Balancer announced that veBAL has been launched, and users can lock BAL to obtain veBAL. veBAL holders receive 75% of protocol revenue and 10% of all BAL minted weekly - source
LayerZero Labs said a suspicious wallet tried unusual attacks against Stargate. They have deployed an updated validation library, there wasn’t an immediate risk. Cobo said that the vulnerability is the code of the core MPT transaction verification part- source
According to DeFi Llama, Waves TVL broke $4billion - source
Binance Bridge 2.0 announced the release, which will support almost all Ethereum tokens to be converted into BEP20 BTokens, and then can directly access the BNB Chain dApp. The whole process can be implemented on the Binance App - source
NFT platform LooksRare has partnered with Etherscan to launch a new feature: Clicking the "Chat" button can send a message to the owner of an individual NFT or to an account on LooksRare, by using Blockscan Chat to do this, and will provide chat notifications in the future - source
Hedera Hashgraph Gets $155M Fund to Drive DeFi Development. Up to $60 million in grants from the fund are expected to go to dexes which may be used as liquidity rewards. Non-custodial liquid staking platform Stader Labs has been awarded an undisclosed sum - source
Nexo customers can earn up to a 12% annual percentage rate for holding ApeCoin (APE) with the crypto platform - source
Milkomeda Announces EVM Compatibility For Cardano Dapps Launch - source
Glitter Finance receives grant award to support the creation of a cross-chain bridge between five blockchain ecosystems. Glitter Finance will first create a bidirectional bridge between Algorand and Solana - source
CoWDAO closes a $23M investment round. The fundraising will be leveraged to establish CoW Protocol as the primary price finding layer for all digital assets traded on EVM chains, as well as funding the ecosystem development - source
Humble Swap is live - New DEX in the Algorand ecosystem - source
OpenSea Confirms It Will Start Listing Solana NFTs in April. Collections like Solana Monkey Business, Degenerate Apes, and Aurory appear headed to OpenSea after the firm confirms recent leaks - source
Tracking Luna Foundation Guard’s Bitcoin Purchases - source
Polygon Announces New ZK-Proof-Based Identity Solution. A month after partnering with Adobe - source
ConsenSys-owned MetaMask rolls out Apple Pay integration and other iOS updates with payment gateways on its mobile wallet to increase options for buying crypto - source
THORChain Liquidity Provider actions for ETH and Terra have been paused pending a bug fix. ETA: < 48 Hours - source
Introducing Valas Finance - decentralized, non-custodial liquidity market protocol operating on the Binance Smart Chain - source
Balancer Labs: veBAL is live and the new veBAL governance system kicks off - source
Alchemix proposal to expand to Fantom as 1st multichain expansion - source
Lessons learned from recent outage of Polygon PoS. A state-sync alert was observed on the PoS network. A Heimdall update was pushed out. Users received advanced notifications. Validators were instructed on how to upgrade - source
CashioApp hacker announces accepting refund requests - source
Technical details on recently patched vulnerablity Gearbox - source
Introducing Saga: Automated deployment protocol for dapp-specific chains - source
Beamer Bridge live on testnet. Transfer ERC20 assets directly between EVM compatible rollups - source
Pocket Network launching mainnet for Boba Network - source
Burnt Finance has announced their Ignition Launchpad to create, mint, and sell a generative NFT collection. No application, No listing fees, No transaction fees, No code - source
Opera announced adding support for several blockchain ecosystems, including Solana, Polygon, StarkEx, Ronin, Celo, Nervos, IXO and Bitcoin - source
Fantom Foundation has launched the stablecoin USDB - source
Kraken users report Bitcoin Lightning Network availability. Kraken was previously aiming to implement the BItcoin Lightning Network in 2021 after officially announcing the plan in late 2020 - source
Komodo’s ‘ShibaDEX’ Lets Users Trade Shiba Inu for Tokens on Other Chains and is the first cross-chain exchange for the millions of Shiba Inu community members - source
Binance Suspends Deposits and Withdrawals on Ronin Network After Hack - source
Terra Buys Another 2,943 BTC Worth $140 Million to Build its Stablecoin Reserves - source
AdaSwap - after raising $2.6 million earlier this month, the Cardano-based, Gal Gadot-backed DEX has announced plans to launch its own NFT marketplace - source
Chainstack Announces Support for Harmony ONE. Will assist with both infrastructure scalability and the healthy expansion of on-chain utility and network features - source
New trademark filing of the leading video game retailer GameStop Corp. The trademark was filed for the term, GameStop Wallet and helping to secure digital identities, generating and securing cryptographic private keys and more - source
Dogecoin Influencer Matt Wallace's New Token “Accept Crypto” Crashes 99% Amid Allegations Of Exit Scam - source
BNB Chain infrastructure projects, Ankr, CelerNetwork, and NodeReal, teamed up to launch the first BAS Testnet and establish a framework for creating sidechains in the BNB Chain ecosystem - source
SushiSwap has released a proposal to have Sushi integrate Stargate to facilitate Omnichain native asset swaps and transfers between networks. This will help unlock the power of Sushi by allowing users to move freely between assets and networks - source
$540 Million Worth of 'Sleeping Bitcoins' From 2014 Move — BTC Possibly Linked to Cryptsy Theft - source
Terra founder Do Kwon said that they will become the world's largest single Bitcoin holder other than Satoshi Nakamoto in the future. He emphasized that the UST’s Bitcoin reserve target remains at $10 billion - source
According to Beosin, BasketDAO's BMIZapper has a vulnerability and has been attacked, causing users to lose about $1.2 million, and most of the stolen funds are currently deposited in Tornado cash - source
The 3AC address (0x4862733B5FdDFd35f35ea8CCf08F5045e57388B3) withdraws about 71,000 ETH from Bitfinex, FTX and Binance, and transfers to the associated address to add ETH to Curve's ETH/stETH fund pool, a total of 52,420 ETH has been deposited - source
Announcing Flashbots Protect Fast Mode. Fast mode is a way of using the Flashbots relay with a different set of tradeoffs, giving you more choice when transacting on Ethereum - source
xBank has launched on testnet, first production-ready liquidity market on StarkNet and the first protocol written natively in Cairo with a complete audit report - source
Critical vulnerability found on Auctus Options. Users who have ever approved this contract should revoke it - source
Abracadabra announces SpiritSwap market on Fantom - source
Introducing veFunder - The onchain fundraising & grant applications using advanced gauges - source
Burrow- the first money market on NEAR native is finally live on mainnet - source
Geth v1.10.17 (Ploitari) is out! This release contains a lot of work in preparation for The Merge, and work for an upcoming change to the way state is stored in go-ethereum - source
AvalancheGo v1.7.9 is out. Release Focus: optimize gossip propagation for upcoming subnets. If you are running a subnet, you should update - source
Helium Crypto Wireless Network Founders Raise $200M, Rebrand to Nova Labs. Andreessen Horowitz, Seven Seven Six, Goodyear Ventures, Deutsche Telekom, and others are backing - source
New Will Smith Inu WSI memecoin was created after Will Smith went viral when he punched Chris Rock has been doing numbers - source
Investors from Sequoia Capital and Andreessen Horowitz, FTX Ventures co-led a $135 million Series A+ investment in LayerZero Labs - source
MyStandard, an employment app that aims to empower users to profit from their data, has come out of stealth and announced plans to launch on Avalanche in Q2 2022 - source
The Wave ADA Yield Fund, which has launched with an initial $100 million, will support the new dexes, lending protocols and stablecoin issuers building on Cardano - source
The Llama Community, through Mathew Graham, is proposing a partnership between Balancer and aAave. Aave will swap 14,666 AAVE from the reserve for 200k BAL tokens from Balancer as part of the partnership - source
Chiliz, the crypto startup behind fan token platform Socios, is launching a new blockchain platform. Sports and entertainment brands can build alongside the firm on Chiliz Chain 2.0, which is rolling out its first testnet today - source
Investment tracker Delta expands its Web3 offering with an NFT explorer that will support Ethereum wallets to start with, with multi-chain support is expected to arrive by the end of the year - source
Zilliqa continues quadruples this week after reports that it will officially launch Metapolis, a so-called metaverse-as-a-service (MaaS) built on Nvidia Omniverse, platform in April - source
Cere Network Announces Mainnet Bridging & Staking is now live - source
Introducing AirSwap V3. Peer-to-peer multi-chain trading and rewards. Delivered by the AirSwap DAO - source
Announcing Foundry v0.2.0, a portable, fast, and modular toolkit for Ethereum application development, written in Rust - source
Voltage Finance has been exploited for $3.6 M via its “Lending-as-a-Service” partner Ola Finance on the Fuse Network by taking advantage of a reentrancy vulnerability - source
Binance becomes official crypto exchange partner of 64th Grammy Awards on April 3, featuring exclusive NFTs via the OneOf marketplace, issued on Tezos - source
Animoca released AIP: 1-5 proposals on ApeCoin DAO, of which AIP-4: Staking and AIP-5: Staking pool allocation were both voted down by the community. The distribution of benefits is uneven, and the proposal is currently being redesigned - source
Tokenterminal: It took Arweave 3 years to go from 0 TB to 10 TB of stored data, over the past 6 months, has grown more than 40 TB. Arweave's price-to-sales ratio is currently around 3,000x, which is relatively high - source
Fantom announced a new 335M FTM (about $480 million) Incentive Program in partnership with Gitcoin Grants. Fantom’s users decide on the allocations, with greater FTM matching rewards going to the projects that are most loved and supported by their users - source
Blockchain.com is integrating with Unstoppable Domains so its 82M wallet users can skip the alphanumeric addresses in favor of NFT usernames - source
Polkadot, Acala and Karara integrating with Wormhole to bring new collateral and users onto the platform and exporting Acala's native tokens onto other chains - source
Risk Harbor: next steps for Ozone: V1 will be live for a bit longer while we continue building out V2 day - source
Introducing Astroport governance, staking (for $xASTRO) and fee share - source
Release of updated version of the Everlend Risk Framework (ERF) which is used for assessing risks when integrating Solana lending protocols - source
Atlas DEX v2.0 is live, bringing native cross-chain swaps 1.5k+ tokens & access liquidity from 130+ DEXes across Solana, Ethereum, BNBChain, Polygon, Avalanche, Fantom - source
Introducing AirSwap V3 trading and rewards protocols are here: efficient peer-to-peer multi-chain trading and latest major protocol release delivered by the AirSwap DAO - source
SIZE, the DEX built for large orders, is now live on Ethereum mainnet! SIZE lets traders execute orders at 30-minute TWAP, giving trades zero-price impact - source
Swimmer Network will be delayed due to committing to longer-term benefits of using Avalanche's SubnetEVM - source
1,000,000,000 USDT minted at Tether Treasury - source
Launch of the Element DAO & the distribution of ELFI. The contract address for ELFI is:
0x5c6D51ecBA4D8E4F20373e3ce96a62342B125D6d - source
Former Coinbase Ventures lead Max Bronstein joins bridge project Synapse as COO - source
BMIZapper has a vulnerability in it. Revoke all approvals - source
Router Protocol has now integrated Fantom and Ethereum in its cross-chain super mesh - source
Verse: The Hyperexchange Protocol - source
Introducing Instadapp Lite - super easy-to-use dapp bringing popular complex defi strategies to just a single click - source
Launching Avalon testnet, the next evolution of the Lyra protocol, looking for early Alpha testers - source
Starly has announced NFT staking with rewards in STARLY tokens - source
Element Finance announces the distribution of its governance token ELFI. According to the blog post there will be 100M total ELFI. 10% will be retroactively distributed to 15,870 addresses. Initial circulating supply is expected at 10M ELFI. ELFI unlock and start of trading TBA - source
Cross-chain protocol Wormhole is staging a private token sale in a bid to raise nearly $200 million - source
Ronin has replaced the compromised validator nodes run by the game’s creator Sky Mavis and its core contributor and plans to ‘bolster’ security after $600 million hack - source
Ola Finance Says Attackers Stole $4.7M in Re-Entrancy Exploit - A post-mortem - source
The 1inch Wallet for Android is released - source
Phala Network has announced that it has won the 13th parachain slot auction on the Polkadot network. The bridge between Phala, Khala and EVM is planned to be launched within 3 months - source
OKX will launch UST Trading Market - source
Doodles discord account has been hacked - source
Cega Live on Devnet - source
Introducing SudoSwap NFT AMM protocol - source
Thea: underlying decentralized technology that makes 'deposits' & 'withdrawals' to & from Polkadex feel like they do in a CEX - source
Polynomial Earn on Optimism mainnet - source
Alpha Finance Lab rebrands as AlphaVentureDAO to help builders tap the best mindshare in Web3 - source
Harmony Protocol has already approved 24 proposals to be part of its $300M Ecosystem Fund in March 2022 - source
The live Compound codebase has a reentrancy bug. Many forks have been hacked from the same bug - source
An Important Update on the Degenbox UST strategy. Migration process that will require users to close their position in the old UST cauldrons and re-opening them in a new updated UST market, due to the shuttle bridge being closed down - source
VALAS emissions are now live: decentralized, non-custodial liquidity market protocol operating on the BSC - source
Proposal #187 is live for a new simple yet powerful feature for Osmosis: Discounted Multihop Fees - source
Hats Finance: Introducing redesigned tokenomics. Based on the "voting escrow" token model - source
ConicFinance: Omnipools for the Curve Finance Convex Finance ecosystem are coming - source
Degis is launching a comprehensive insurance protocol native to Avalanche. The all-in-one insurance market uses peer-to-peer pools to protect users against price volatility, impermanent loss, wallet hazards and other risks - source
Phantom, the largest wallet on Solana, announced that it will soon cross-chain to Polygon. Coinbase Wallet previously said it would soon support Solana - source
InverseFinance hacked for $15.6M using a complex / efficient MEV style attack technique - source
The MOVE TO EARN project STEPN announced that it has generated a profit of 198,635.62 SOL ($26,815,807.35) from NFT Marketplace trading and royalty fees in Q1 2022. It will use this profit to buy back and burn GMT on-chain from secondary market - source
Trezor investigates potential data breach as users cite phishing attacks. Numerous users on Twitter alarmed Trezor of an ongoing email phishing campaign specifically targeting Trezor users via their registered email addresses - source
Curve Adding a 2Pool base implementation of USDC/USDT Proposal - source
veRBN hidden hand launch partner - source
Spool is live. Yield for the World. Fuel for DeFi - source
Beaker (tokenization of DeFi trades) is live - source
Alchemix v1 to v2 migration tool released - source
mSPELL staking is live on ETH, AVAX, FTM and Arbitrum - source
JonesDAO acquire $4M of CVX - source
Gro joins the Curve Wars - source
Concave is live - source
Degis mainnet is live - source
Stakeall mainnet is live - source
Unipilot v2 is live - source
Phantasma exploited - source
UniDex introducing perpetual leverage trading on FTM - source
Metaverse News:
Spain's Departmental Store Giant El Corte Ingles ventures into the crypto world (Another step towards adoption, retailers realizing they can either join in or be left behind - source
World of Women Galaxy Ethereum NFT Drop Generates $79M in a Day. That includes $34 million worth of primary sales from the initial mint, as well as $45 million in secondary market trading per data from CryptoSlam - source
WWE Signs Deal to Launch NFTs Through Fanatics’ Candy Digital. The NFT digital trading cards will feature famous wrestlers - source
MAC Cosmetics Releases Keith Haring Polygon NFTs with ConsenSys. Proceeds from the NFT sales will support youth impacted by HIV/AIDS - source
Sebastian Maniscalco Becomes First Stand-Up Comedian to Gift NFTs to Showgoers - source
Socios, a digital fan token company, has announced football star Lionel Messi as its first global ambassador. Previously, Messi's signing fee at Paris Saint-Germain already included some cryptocurrency fan tokens provided by Socios - source
Income Rights of Michael Jackson Hit to be Sold as NFT. British songwriter Gil Cang is turning a portion of his stake in Micheal Jackson’s ‘Whatever Happens,’ into an NFT - source
Luxury brands joined Decentraland's Metaverse Fashion Week. From Dolce & Gabanna to Giuseppe Zanotti, major fashion companies took to Ethereum-run Decentraland to interact with new consumers in this virtual experiment - source
Silk Road Founder Ross Ulbricht to Drop Bitcoin NFT Collection. The NFT collection will be auctioned off at the Bitcoin 2022 conference commencing Apr. 6 - source
Meta Brings Metaverse-Like 3D Ads to Facebook and Instagram - source
Ethereum NFT Game Sorare Signs Major League Soccer Amid US Expansion - source
DC Comics and Palm NFT Studio will release 200,000 Batman-themed NFTs in April. The NFTs will come with various benefits, including access to events, merchandise, and metaverse elements - source
WeChat, which has 1.2 billion users, said it had banned NFT accounts in large numbers, required them to have a blockchain company filing provided by the Chinese government, and disallowed secondary transactions - source
Nifty Gateway’s marketplace will appear on Samsung’s new premium TVs, letting owners view and buy NFTs from the couch - source
Azuki is one of the biggest new NFT projects of 2022, and it set a collection record with a $1.42 million sale - source
Players of Storybook Brawl are up in arms against FTX’s purchase of the free-to-play game’s developer, Good Luck Games - source
Shiba Inu Team Unveils Metaverse with 100,595 land parcels, some of which would stay private. Shiba Inu’s very own Metaverse will use Ethereum for its land pricing - source
Food industry giants KFC, Taco Bell, and Pizza Hut file NFTs and metaverse trademarks - source
The founders of Fort Worth, Texas' annual Fortress Festival have launched a new platform, DeFy Tickets, that sells concert tickets as non-fungible tokens - source
Axie Infinity Delays Origin Game Launch to April 7th citing the high-profile security breach on Ronin - source
CryptoTester NFT collection will be a membership pass into a tight-knit community of Web3 enthusiasts with the joint goal of advancing crypto adoption and education - source
nftperp - a perpetual futures dex for NFTs - source
ShapeShift DAO launches NFT auction in support of female artists - source
Snoop Dogg and Billy Ray Cyrus to launch hit song backed by massive Animal Concerts NFT drop - source
NFT marketplace OpenSea has rolled out direct card payments on its platform through MoonPay - source
Bored Ape Yacht Club discord channel suffered a phishing scam. Tells Users not to Use Discord to Mint Ape NFTs - source
The NBA Champion Milwaukee Bucks will unveil and auction two limited series of Rare NFT Rings. First 20,000 fans can claim a FREE digital collectible poster at Fiserv Forum when the Bucks tip-off against the Clippers on April 1- source
Snoop Dogg and Charles Hoskinson will talk about the Cardano ecosystem on April 5th - source
The Pudgy Penguins NFT project is under new leadership after the close of a long-awaited 750 ETH ($2.5 million) sale to LA-based entrepreneur Luca Netz
Froyoverse mint. mint: 8-10 april. time: 0000 utc. price: 0.1 eth - source
Ukraine has raised over $600,000 through NFTs, which will be used as war bonds to help finance the war effort in Ukraine - source
News:
European Union proposes crackdown on non-custodial crypto wallets. Firms interacting with non-custodial crypto wallets would be expected to collect personal details about the wallet’s owner, according to a new proposal - source
Coinbase is calling on the public to oppose the EU's amendment to the "Transfer of Funds Regulation", which requires exchanges to collect, verify and report information on non-customers using self-hosted wallets - source
Crypto.com will be official sponsor of FIFA World Cup 2022 - source
Mt. Gox may return Bitcoin worth over $6 billion: Japanese trustee likely to distribute remaining trove sooner than later - source
Bybit has announced plans to open its global headquarters in Dubai and has received in-principle approval to conduct a full spectrum of virtual assets business in Dubai. Bybit is the third largest virtual asset operator in the world - source
South Korean consortium SK Square plans to invest its own 2 trillion won ($1.63 billion) in areas such as chips and blockchain over the next three years - source
The City of Austin, Texas gears up to become America’s next crypto hot spot by passing two resolutions focused on cryptocurrency and blockchain innovation - source
Coinbase could complete the acquisition of $2.2 billion 2TM, the company behind Mercado Bitcoin, by April - source
Japan is revising its foreign exchange legislation to crack down on the risk of Russia using crypto to evade sanctions - source
Bitcoin Miner Iris Energy Gets $71M Equipment Financing from NYDIG. The financing is backed by 19,800 Bitmain S19j Pro miners that have hashrate of about 1.98 exahash per second - source
CME Group launched options on Micro Bitcoin and Micro Ether futures, further expanding its suite of cryptocurrency derivatives offerings - source
Crypto news and research company The Block has appointed a Bloomberg News veteran as its new editor-in-chief as it plans to quadruple the size of its newsroom over the next two years - source
Mandela's arrest warrant nft raises 130,000$ in auction - source
Gold industry taps blockchain for supply chain management and fraud prevention - source
Grayscale Considers Flipping the Script and Suing SEC Over Bitcoin ETF - source
Coinbase Seeks Bodyguards With Tactical Driving Skills, Job pays around $95,000 a year - source
The SEC’s final deadline to rule on the application to convert the Grayscale Bitcoin Trust into a spot ETF is July 6. Should the SEC reject the filing, Grayscale would consider a lawsuit as part of its response - source
Several climate activist groups including Greenpeace and Ripple co-founder Chris Larsen are launching a “Change the Code, Not the Climate” campaign, designed to pressure the Bitcoin community to alter the POW code - source
Indian state gov't uses Polygon to issue verifiable caste certificates. In partnership with LegitDoc, the Maharashtra government is in the process of rolling out 65,000 caste certificates to aid the process of delivering governmental schemes and benefits - source
WisdomTree Launches Crypto ETPs for Solana, Cardano, Polkadot in Europe. Other ETP issuers are planning crypto-linked investment products that also yield staking returns - source
Biden Eyes $5 Billion in 2023 Revenue From Applying New Tax Reporting Rules to Crypto - source
Vietnam Government Is Creating A Framework To Legalize Bitcoin And Crypto - source
Chris Larsen, co-founder of the Ripple, and Greenpeace, have launched an initiative designed to reduce the negative impact of Bitcoin mining on the environment - source
Chainlink Labs Hires Diem CTO Dahlia Malkhi to Lead Research. Malkhi was an integral executive at the now-shuttered stablecoin project - source
Visa launches program to help creators grow their businesses with NFTs - source
13 apps removed after researchers uncover Trojan crypto wallet scheme. The scheme, which has been in operation since May 2021, targeted Chinese users through social media groups and fake websites - source
The New Jersey Bureau of Securities has issued a cease and desist order against Voyager Digital for selling unregistered securities through its Voyager Earn program. This is the latest in a series of orders and complaints against crypto-based interest-bearing account issuers in the United States - source
Australia-based bitcoin mining company Iris Energy has raised $71 million in debt issuance for new equipment - source
TP ICAP, the world’s largest interdealer broker, has added BitGo and Komainu to its custody network as it moves to expand its offering in digital assets - source
BitOasis, a Middle East-focused crypto exchange based in the United Arab Emirates, has received provisional approval from Dubai's new crypto regulator, as the UAE pushes to become a centre for the virtual asset sector - source
LTO Network Becomes the World’s Premier Blockchain Network for eClinical Applications Through the Partnership of Triall With Crucial Data Solutions - source
BlockShow returns as a DAO for community engagement and democratizing events - source
The Netflix documentary "Trust No One: The Hunt for the Crypto King" premiered on March 30: about a group of Bitcoin investors who lost their money after the strange death of Gerald “Gerry” Cotten, founder of the cryptocurrency company QuadrigaCX - source
European lawmakers have voted to limit anonymous crypto transactions and enforce KYC rules on unhosted wallets - source
Canadian oil and gas miner Bengal Energy, is set to begin its trial project of accessing formerly “stranded” gas wells with portable Bitcoin mining rigs - source
30% crypto tax becomes law in India following Finance Bill approval. India’s new crypto tax policy is based on its gambling and lottery ticket win tax rules, that is set to come into effect from April 1 - source
CleanSpark Aims to Be Among Top Bitcoin Miners With Up to 500MW Expansion. The deal with Houston-based Lancium will give CleanSpark a mining hashrate of 16 EH/s by spring 2023 - source
BNY Mellon to Custody Assets Backing Circle's USDC Stablecoin. The relationship likely carries publicity upside for both financial brands - source
One of Australia’s largest cryptocurrency exchanges has struck a deal with payments giant Mastercard in a further step towards eradicating cases of debanking - source
Token and equity management startup Sprout raises $3M led by Sequoia, trying to make the ownership of digital assets more traceable and transparent for organizations - source
El Salvador Announces the World Blockchain Festival for April. The Bitcoin technology event will be held from April 21 to 23 in the capital San Salvador - source
Proposed bill The Stablecoin Transparency Act would require stablecoins to be fully backed by dollars or short-term government securities. Stablecoin issuers would also have to publish audited reports - source
SEC shoots down Ark 21Shares in latest spot bitcoin ETF rejection - source
US Adds 431K Jobs in March, as Unemployment Rate Nears Pre-Pandemic Level - source
Galaxy Digital delays BitGo acquisition to later on in 2022. The acquisition is scheduled to follow Galaxy's domestication in Delaware, which is expected to become effective between Q2 and Q4 of 2022 - source
Indonesia to Charge 0.1% Tax on Crypto Transactions, Investments. The taxes will take effect on May 1 - source
Iconic said it launched the world’s first physically backed EOS ETP. It will be listed and begin trading on European stock markets in the coming weeks, with a total expense ratio of 0.95% - source
Binance announced hiring senior executives from Microsoft and travel giant Agoda - source
The 19 millionth bitcoin has been released - source
Bitcoin mining firm PrimeBlock is expected to list on Nasdaq via a SPAC at a valuation of $1.25 billion. It generated revenue of $24.4 million in the Q4 of 2021, has more than 110 megawatts of data center capacity across 12 facilities in North America - source
Riot Blockchain Files To Sell Up to $500M of Stock in ATM Offering - source
Mt. Gox 6,800 BTC not linked with ex-CEO's plans to redistribute $6B. While initial reports suggested that a cold wallet linked to Mt. Gox transferred 6,800 BTC, F2pool founder later confirmed that the address was associated with the early miners of F2Pool, and not Mt. Gox - source
Clothing brand Off-White has accepted crypto payments at its flagship stores in London, Paris and Milan, according to VOGUE. Customers will be able to pay in BTC, ETH, BNB, XRP and USDT and USDC - source
Raises:
Binance Labs has announced a strategic investment in Aptos Labs, a layer 1 blockchain built by some of the original creators of the Diem (formerly Libra) . Aptos Labs recently raised $200 million in a strategic round led by a16z - source
Animoca Brands, Ubisoft Invest in $12M Round for Blockchain Game 'Cross the Ages'. The free-to-play card game features digital trading cards as NFTs that can also be converted to physical cards - source
Blur, an NFT marketplace, has raised an $11 million seed round led by Paradigm. Joining Paradigm in this round are other partners including eGirl Capital, Keyboard Monkey, LedgerStatus, 0xMaki, Santiago Santos, Zeneca, Deeze, Andy (Fractional) and more - source
Led by Delphi Digital’s venture arm, zkLend has raised $5 million in a seed round, with participation from Starkware and Three Arrows Capital. Alameda Research, MetaCartel DAO, Amber Group, Genesis Block Ventures, and others also joined in the raise - source
Crypto Raiders, a non-fungible token (NFT) role-playing game (RPG) built on the Polygon blockchain, announced a $6 million funding round co-led by crypto investment firm DeFiance Capital and research firm Delphi Digital. Metaverse ecosystem GuildFi, Merit Circle and Yield Guild Games also participated - source
Gumi Cryptos Capital launches $110M fund for blockchain startups - source
Eldridge, a16z Lead $620M Financing Round for Fintech Cross River Bank. Coinbase, Stripe, Affirm, and Rock Loans are among Cross River’s more than 80 customers - source
Blockchain's most popular (d)VPN Mysterium introduces Necto Labs and launches a $3m fund to attract product builders to their new privacy ecosystem - source
Blockchain.com has secured a $14 billion valuation after raising an undisclosed amount in funding from global VC firms led by Lightspeed Ventures and Baillie Gifford & Co - source
A16z Leads $4.8M Round for P2E Gaming Startup Battlebound. Battlebound will use the capital for phased launches of its two newest game titles - source
Composable Finance Raises $32 Million in Series A - source
Fractal, a marketplace for Solana gaming NFTs, has raised a $35 million seed round. The platform was co-founded by Justin Kan, who previously co-founded Twitch - source
Data:
The Bitcoin address (bc1q9d4ywgfnd8h43da5tpcxcn6ajv590cg6d3tg6axemvljvt2k76zs50tv4q) has been marked by the OKLink as the Luna Foundation address, which continued to accumulate 2,830 BTC today, and the current address balance reaches 27,784.96 BTC - source
Digital asset investment products saw inflows totalling US$193m last week, the largest since mid-December 2021. Solana saw the largest single week of inflows on record totalling US$87m, representing 36% of AuM - source
According to Footprint, 30 GameFi projects have announced financing in March. Among them, 5 projects have obtained strategic investment, 11 projects have obtained seed round financing. The total amount of financing exceeds 400 million US dollars - source
After announcing a 0% market fee for sellers and a gas refund for buyers in April, Dune Analytics data shows that on April 1, the X2Y2 NFT platform’s single-day transaction volume reached $8.89 million, a record high for the platform - source
New Listings:
Huobi Global will list Victoria VR (VR) on March 30 - source
Huobi Global will list CUDOS (CUDOS) on March 30 - source
League of Kingdoms Arena (LOKA) gets listed on KuCoin on March 29th - source
Aurox (URUS) Gets Listed on KuCoin on March 30 - source
Binance Futures will launch coin-margined VET perpetual contracts with up to 20x leverage on March 30 - source
Huobi, KuCoin and Gate have listed Lumerin. LMR is now trading around the Option 3 price ($0.45) - source
Paysenger has announced its Public Token presale on Tokensoft. Paysernger raised $2.5M so far (Strategic investors and Seed round). Paysenger is creating a social network based on paid communications - source
Secret Network listed on Kraken. Deposits begin now & trading is live April 1st - source
Geojam (JAM) Gets Listed on KuCoin on March 31 - source
Bifrost (BNC) Gets Listed on KuCoin on March 31 - source
Huobi Global will list XDefi (XDEFI) on April 1 - source
Moonwell (WELL) will have a public sale via Tokensoft from March 30 till April 8 - source
ChainPort ($PORTX) public token sale is live on DAO Maker - source
Binance Futures will launch USDT-margined BNX perpetual contracts with up to 25x leverage on April 1st - source
Conflux (CFX) Gets Listed on KuCoin on April 1st - source
LaunchBlock (LBP) Gets Listed on KuCoin April 1st - source
LooksRare (LOOKS) Gets Listed on KuCoin - source
Chain (XCN) Gets Listed on KuCoin - source
Keep3rV1 (KP3R) Gets Listed on KuCoin - source
Disclaimer: none of this is finanshy advice. These are just my thoughts, observations and things that have crossed my eyes during the past week. Use this as an overview of the market sentiment, always do your own research, practice risk management, remember to stay hydrated and touch grass. How you should read the information contained herein, or anything in crypto for that matter. Doubt everything in crypto. Crypto is a cruel, harsh, zero sum game. A majority of people will lose money. There’s cool tech, cool people and cool visions but there’s criminals, scammers and grifters as well. There’s shilling, hyped narratives, lofty promises and wild overspeculation. Participating in financial markets is brutal. The pieces are pretty much always stacked against you. There are players playing this game with vastly more resources and experience. A vast majority of things around here are going to part people with their money. Accept the game for what it is. Study it, learn from it and make moves accordingly. Protect yourself. Be vigilant. Be wary.
More Excerpts and Key Points from the Arthur Hayes Article:
Never before in the history of human civilisation has a class of individuals been able to reap so much economic benefit for themselves against a backdrop of disastrous performance for the clients they claim to serve.
The sole goal of all these pretences is to syphon money from trusting clients — be they individuals, companies, or governments — in the form of management and performance fees.
“that’s because you don’t have any crypto related products to sell your clients so that you can earn commissions.”
But what if you can convince the world that Ether is simply an infinite duration bond?
If we can convince the fiduciaries that the classification of ETH is a bond rather than a currency, then a whole new set of fiduciary clowns can be mentally primed to allocate into the ecosystem
We must convince larger allocators of capital that indeed, ETH is a bond. Once ETH resides in the bond bucket, they know which page of the book contains the instructions on what to do.
If you believe that ETH can or should be valued as a bond, then as an investor — given your long-term interest rate and ETH reward assumptions — you should be willing to buy ETH at today’s prices, as long as it trades at a discount to its perpetual bond derived price
Details of what each of the Lido, Binance, and Rocketpool tokens represent in an attempt to understand why they trade at different premiums to ETH
Conclusion is that stETH either assumes that the full ETH 2.0 process will be completed extremely quickly post-merge, or it is supremely undervalued when viewed against the bond maths of ETH rewards post-merge. If, after reading this essay, the market participants agree with me that ETH post-merge is a bond, then stETH should slowly trade at a larger and larger premium to ETH
The bedrock of global fiat credit markets is the ability to create a debt asset — which is just a loan to some entity — and then take that debt asset and use it as collateral to borrow even more money. That is how the flywheel of leverage juices the global economy
It does introduce systemic credit risk into the system - build extremely accurate monitoring systems to gauge the immediate DeFi system credit risk attributable to pool tokens. will have a lot to say in the future about promising projects that begin to utilise this new pool of collateral to do innovative things and bring life to the ETH fixed-income markets in a decentralised fashion
Bitcoin is pure money and intrinsically yields nothing. Ether is the commodity that powers the world’s largest decentralised computer. Ether will, post-merge, feature an intrinsic yield. What Saylor — or any other high yield issuer — should do is issue debt and purchase ETH. This is a positive carry trade
Most major L1 chains are POS. However, as traders, we care about change at the margin. At the margin, new funds can now invest in ETH that couldn’t before. That is massively boolish!
L1 upstarts command hundreds of billions of dollars of crypto market cap. And in 2021, their prices surged. Now that ETH is on the cusp of the merge and shift to POS, which may or may not bring performance enhancements, will ETH outperform on a relative basis vs. these other L1 coins
Electric Capital published a very important and insightful research piece which estimated the number of active developers on each of the major chains. A public blockchain is built to be used. If there are only a few developers creating new projects on a given chain, that chain will never become valuable
Price / TLV is the market cap divided by the total value locked inside of dApps on a protocol. This ratio is the easiest way to identify the degree to which DeFi apps are gaining traction. ETH is the third cheapest behind TERRA and AVAX. I am not even sure ADA should be included, if there ever was a coin that traded purely on hopium it is Cardano
When viewed against these fundamental ratios, ETH is perhaps the least expensive L1. Ethereum’s success bred a coterie of competitors who trade on a hopeful future rather than concrete performance. There is nothing wrong with that, but when ETH is about to feel the love of bond and ESG investors, can these other coins keep pace?
Correlation between ETH and the Nasdaq100. At 84%, they are basically joined at the hip. ETH (and Bitcoin) are risk assets just like big tech US equities. No bueno!
His target allocation is 25% Bitcoin and 75% Ether
Bitcoin must again be viewed as a store of value and an inflation hedge, as it is the hardest form of money ever created. Ether is not money — it is a commodity that powers the world’s largest decentralised computer. As I explained in “Yes I Read the Whitepaper”, the Ethereum community clearly decided that ETH is a commodity used to power this computer, not a pure monetary instrument
Want to own an asset that has a positive yield in its own currency — and at the moment, that is ETH. Bitcoin yields nothing. Therefore, from a pure interest rate differential perspective, I should own more ETH than Bitcoin. This will change when the price of ETH sufficiently rises to incorporate future ETH cash flows, due to the new rewards and validation system
The Wormhole and Ronin (Axie Infinity) bridges lost users’ funds to the tune of almost $1 billion worth of ETH, other cryptos, and stablecoins. At its core, these bridges are the ecosystems’ attempt to import all the amazing dApps built natively on ETH onto the Ethereum-killers’ faster and cheaper blockchains. If traders tire of worrying whether their bridge will be the next to implode, they may just migrate their TVL and business back to ETH
Believe ETH will be trading north of $10,000