November 29, 2020 View Online
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Halloween is tomorrow! Watch out because the Werewolves are coming after your VAMP tokens. And if that sounds too scary for you, then RottenSwap’s costume party may be the answer. Boo Banker is launching their NFT store, and perhaps Dracula Token may have some spooky plans?

Don’t worry if you can’t keep up with all the surprises. We’re planning to publish a Halloween summary over the weekend.

In today’s edition: Hippo Finance announces farming for NFTs, traders jump onto the Keep3r Network Token launch and our first look at the automation tools offered by UniLayer and Parsiq.

DeFi Farmers FOMO into Keep3r Network Launch

defi traders fomo into the keeper network launch
Keep3r Network Token pumps over 3,000% after DeFi farmers jumped into Andre Cronje's new project heavily. It appears the Yearn Finance creator is seen as a holy grail when it comes to DeFi development. Because despite the project being in beta with no liquidity lock traders are accumulating KP3R as fast as they can.

KP3R Token Launch. A decentralized job platform called Keep3r Network is the latest project launched by the YFI token founder on October 28th. As expected, DeFi enthusiasts on Ethereum were quickly seen buying up as many KP3R tokens as they could. The token was selling on Uniswap at around $10 on the launch, within six hours it hit $150 and a few hours later KP3R was trading at $180. Buying pressure continued for a steady 24 hours reaching an all-time high of $380 before the price saw a pullback. The quick price pump seems to have come off the back of Andre Cronje’s increased fame in the crypto community. Because this time there was more than just DeFi farmers entering the fray, as well known BTC traders discussed the action on crypto Twitter.

As of the time of writing, KP3R has gone through a correction, trading at around $160.

What is Keep3r Network? Keep3r Network is a sort of freelancing platform powered by smart contracts, where KP3R tokens will be issued as rewards for completing jobs. The Keepers refer to external actors, people, or blockchain teams that will complete work. And then Jobs which refers to smart contracts the platform will set up to find the external actors to complete the work.
what is keep3r network
Cronje does warn users that the project is in beta and bugs may exist despite the code being audited. However, this does not seem to have stopped traders speculating on the price. All reasoning for trading tokens on Uniswap safely seems to have been put aside. For example, Cronje’s deployer address controls over 98% of the KP3R Uni LP tokens.

Any other DeFi project that launched in a similar fashion would immediately face countless claims of an upcoming rug pull. Luckily for Cronje being DeFi’s golden developer comes with certain privileges!

Hippo Finance Announces NFT Farming

hippo finance announces NFT farming
Hippo Finance, a community governed DeFi hedge fund, recently announced an upcoming sub ecosystem for users to earn rare non-fungible tokens (NFTs). The team aims to strengthen the value of HIPPO tokens by providing an additional use case for dHIPPO tokens through NFT farming. Excitingly, the NFTs known as Hippo Cards, are not just crypto-collectibles as they will be usable within the platform from launch.

Hippo Card NFTs Overview. There are five tiers of Hippo Cards with an increasing rarity and power level: Hippo, Angry Hippo, Dark Hippo, Golden Hippo, and Hippo God. Users can stake their Hippo Cards to boost their farming APY returns.
Hippo Card NFT  Sub ecosystem Diagram
The boost depends on the power level of the NFT staked. Investors have two options for acquiring the NFTs: stake in the Hippo-Farm or buy them directly in the Hippo-Mart.

Additionally, the Hippo Cards can be freely traded in the platform’s native NFT marketplace known as the Hippo-Auction.

What is Hippo-Farm? Hippo-Farm is where users will be able to start NFT farming for Hippo Cards. It lets you farm wMELON tokens which you can use to buy Hippo Cards in the Hippo-Mart. First, you will need to provide liquidity to the dHIPPO-ETH pair on Uniswap. Currently, you can acquire dHIPPO tokens directly on Uniswap, or farm dHIPPO on the main platform. Once live, you will be able to earn wMELON tokens by staking your dHIPPO-ETH Uni LP in the WaterMelon Pool.
Hippo Card NFTS
Furthermore, users will be able to stake their Hippo Cards to boost their farming APY in the pool depending on the NFT’s power level. Meaning the Hippo Cards immediately have a use case within the ecosystem!

What is Hippo-Mart? This is where users will be able to purchase NFT Hippo Cards with their farmed wMELON tokens. However, the rarer cards with higher power levels will only be purchasable with dHIPPO tokens.
HIPPO Card NFT Power Level chart
Additionally, there will be a Random and Special Lottery where users can buy tickets using wMELON or dHIPPO for a chance of winning the rarest Hippo Cards. Lastly, the team is also planning partnership deals to provide more use cases for the NFTs, such as using the cards to buy other products.

hGRASS Energy Token. Hippos need to eat, right? To provide a more gamified experience to users, the power level that boosts your farming APY will decrease over time. To recharge the boost, you need to feed your Hippo by staking hGRASS tokens.
hGRASS token to replenish Hippo NFT power level
Users can farm hGRASS tokens in the Hippo-Gym by providing liquidity to the Uniswap pairs of wMELON/ETH or hGRASS/ETH and staking their LP tokens. Note that the hGRASS/ETH pool features an x1.5 multiplier so will provide you with higher rewards.

Final Thoughts. Interest and demand are growing massively around collectibles from DeFi users and crypto investors alike. The move by Hippo Finance to expand into NFTs is a positive sign that the development team is watching market trends closely. It is also great to see that the sub ecosystem’s design provides immediate usage for the minted NFTs. These are not just crypto-collectibles for future price speculation with zero usability.

As a result, the cards themselves could see massive buying pressure via the Auction-House as farmers want to increase their APY. Will be interesting to watch the price discovery on the launch!

What is UniLayer? Pro Trading Tools on Uniswap

what is unilayer
UniLayer, a decentralized trading platform built on top of Uniswap, provides users with professional-trading level tools that you generally only find on centralized exchanges. Recently the platform passed a security audit by Hacken, with no severe or critical issues found. As a result, it seems like the perfect opportunity to learn what UniLayer is and its LAYER tokenomics.

What is UniLayer? UniLayer is a DeFi app that brings advanced trading features to Uniswap that veteran crypto traders from the centralized space will be familiar with. Such as automated trading, using UniLayer lets you create buy and sell orders for specific token prices. It also features scheduling, which enables traders to queue trades to be executed at a particular time of day. This feature resembles how limit orders for Uniswap work on Dharma.

As we all know the cryptocurrency markets never do sleep. So having access to decentralized automated trading is a big step forward.
what is unilayer? DEX tools for trading on uniswap.
Additionally, the UniLayer UI provides dashboards for live charts, order books, and analytics. All features that traders use on a daily basis via platforms such as Binance.

Control Pooled Liquidity. Perhaps one of the more exciting features for Uniswap enthusiasts is automated lending management. UniLayer can automate the process of adding or removing liquidity from a pool once certain metrics are met.
Automation for pooled liquidity using UniLayer
As a result, you have much more control over your pooled liquidity. For example, to protect yourself from massive impermanent loss from volatile assets. You could automate the process of pulling tokens out of the pool at certain price points.

LAYER Tokenomics. UniLayer’s native token LAYER plays an important role in its ecosystem via Flash Staking. This is a unique reward model that aims to promote the trading activity of a token. Contrary to conventional staking models with flash staking LAYER stakers will receive the full reward instantly.
UniLayer Flash Staking Diagram
It works by choosing how much LAYER to stake against an ERC20 token, along with locking up the LAYER tokens for a time period. These two factors will then calculate the stakers instant reward amount. As a result, you will find the value of LAYER will become dependent on the value of the ERC20 tokens available in the staking portal. Furthermore, the use case provides increasing buying pressure as the staking portal gains adoption. Additionally, teams will pay a fee in LAYER to set up their staking portal.

Looking to the future. UniLayer is under active development with a lot of exciting features on its roadmaps such as fiat on-ramps, launchpads, and NFTs. Currently, it looks like a good bet that trading volume on Uniswap will continue to go up. Meaning the demand for tools such as UniLayer will increase massively.

However, we have to note that UniLayer will be at whim to Ethereum scaling issues that may slow down the adoption of their tools. For example, if liquidity and users migrate to a Layer 2 solution such as Loopring then UniLayer may no longer have much of a use case. It would be great to hear if the team has plans of integrating other DEXs into their platform because the LAYER flash staking design is very unique.

What is Parsiq? Real-Time Blockchain Monitoring

what is parsiq blockchain automation and monitoring tool
Parsiq platform offers various types of blockchain monitoring and analytic tools which it combines with a workflow automation platform.

What is Parsiq? The Parsiq platform provides users with an easy way to monitor Blockchain operations and perform an automated action. Did your Ethereum address receive a deposit? Boom, receive a notification on telegram. Did your favorite DeFi token just see a whale transfer? Boom, receive an email.
what is parsiq integrations for blockchain monitoring
And it is much more than just notifications, users can transform the data to be delivered to their favorite off-chain application or web service. Doing accounting in DAI stablecoin? Automate the transactions into your Google spreadsheet. Essentially, you can bridge the blockchain and off-chain without needing to write any code. These types of Smart-Triggers are essential to keeping data organized and accessible. Meaning Parsiq has use cases from personal users, small businesses to large enterprises.

PRQ Tokenomics. PRQ token powers the platform, essentially, if you want to use the platform then you will need to be holding PRQ tokens. The more actions you want to monitor on-chain, the more PRQ you will need to hold in your Ethereum wallet. Additionally, users can create Public Projects which other users can subscribe to. This adds a gamification element to the PRQ token, as when you subscribe to an automation workflow, you pay a small fee to the creator. Check out Flashr, a whale transfer notification tool, which showcases how public projects can look (and is currently free to use!).
what is parsiq
Additionally, the O2 Protocol exists for power users who may not find it feasible to continuously market buy PRQ tokens. This is a pool of risk-free PRQ lending and collateral-less borrowing, risk-free because the PRQ tokens are never transferred. As a result, you could compare it to how some blockchains, such as VITE, allow you to lease transaction power. Furthermore, lenders will be able to pool PCQ to earn rewards from the generated fees.

Looking to the future Parsiq looks like it will be scaling onto BSC soon enough. As the team announced they’ve received funding from Binance via the Accelerator Fund.
  • DeFi on the BSC chain is growing at a rapid pace, meaning third party analytic tools will be in big demand. Farmers need to track their operations closely!
PRQBOOST... the team has also recently launched a PRQ/ETH liquidity mining program for their Uniswap pool. This involves use of a second token PRQBOOST which is stackable to boost users' reward level. Initially, the new token will be airdropped, though all the rewards mechanisms are not yet known. Watch Parsiq’s announcements closely!

Also take note

  • Surf Finance: Looking to ride the DeFi waves? Then maybe the SURF token is for you.
  • SingularityNET: The liquidity staking period for AGI token has changed from 30 days to 180 days.
  • Harvest Finance: Still trying to track down the attacker by increasing the bounty for information that leads to returning the funds now at $1M.
  • Uniswap: a new proposal may see a second UNI airdrop happen, to all the users who were not included in the first airdrop due to using proxy contract such as Dharma.
The information provided on this email should not be taken as investment advice, financial advice, trading advice, or any other sort of advice. dExplain does not recommend the use of any decentralized application nor that any cryptocurrency should be bought, sold, or held by you. You should do your own research and consult a financial advisor before making any investments.

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