Chief Trolla

dExplain crypto newsletter news from defi and nft projects on Ethereum and more

Tesla’s CEO Elon Musk and CFO Zach Kirkhorn have changed their titles to Technoking of Tesla and Master of Coin respectively in their latest 8-K filing with the U.S. Securities. We will now be referring to them as Lords Of The Troll

Meanwhile, lawmakers in France are trying to let their central bank respect the pump, FTX Exchange reportedly in talks to buy the naming rights to Miami Heat’s stadium, and MicroStrategy keeps pressing market buying. All positive news!

The weekend surge passed $60,000 to new ATHs illustrated perfectly the dangers of shorting in a bull market with $333M shorts being liquidated. We’re now seeing a Monday morning pullback, could just be business as usual or a more volatile reset. Just keep your greed in check and make sure you have a profit plan, set your stops, that’s all you need to win – for now.

Crypto News

  • Bitcoin: Google trends are showing BTC is now being googled twice as much as Covid-19. Maybe an indication we’re leaving the pandemic’s fears behind us to enter the bull market? Note Bitcoin now sits at 10% of Gold’s market cap and more than 50% of Apple’s or Silver’s!
  • Dogecoin: Elon Musk is calling for Coinbase to list DOGE, the amount of hype this would cause would make the DOGE going to $1 meme not so far-fetched after all.
  • Cardano: ADA showed up on the Bloomberg Terminal which will expose the asset to a lot more professional investors. Cardano’s much anticipated Goguen release which will introduce smart contracts is due to release soon.

DeFi News

  • Ouch: One user made a costly mistake and sent $190,000 worth of SUSHI tokens to a project’s smart contract, making it impossible to retrieve them. Perhaps DeFi is not ready for the masses just yet?
  • Premia: A decentralized options trading platform on Ethereum and Binance Smart Chain, users can stake PREMIA to earn protocol fees. Upcoming Meta Vaults will enable liquidity mining for extra rewards, check out our full review here.
  • OpenOceanGlobal: If you’ve been trading via this DEX aggregator then make sure you claim your OOE token airdrop. Also this round 1 of the project’s airdrop distribution, so still a chance to qualify in the future – get trading!
  • Reef Finance: Seems to have gotten into some sort of dispute with Alameda Research over an OTC deal gone wrong. A lot of traders follow Alameda Research and the Sam Coins (SRM, SOL, RAY, FTT, SUSHI) closely. If you’re holding REEF, we would expect market selloffs, stay safe!
  • PancakeSwap: Leaked a UI image of an upcoming release, which appears to show order book charts and possibly decentralized margin trading? Very bullish news for CAKE.
  • BakerySwap: Announced BAT is now available to trade on Binance Smart Chain, along with liquidity mining for the BAT/BAKE pair which will start on March 16th.
  • JurassicFarm: Another Goose Finance fork that’s launched on BSC, seems these are neverending? You know the drill, stake liquidity to farm DINO tokens. That being said this project’s buyback mechanism seems superior to simply buy and burn because it also includes an automatic add liquidity feature.
  • Donnie Finance: A new yield farming product launched on IOST, locked 1.6M TVL in under 1 minute. Currently, there are four pools (IOST, DON, HUSD, PPT) that let you farm the platform’s native DON token.
  • Yearn Finance: Announced the launch of Coordinape, which is a new way of fully decentralizing community funding and ensuring project contributors are rewarded. Read through our full review of YFI here.

NFT Spotlight

Be sure to check the listing to view the digital crypto artwork in its full glory, as some art is animated or contains audio.

It’s Alive!
The complementary artwork in Javier Arrés’ exploratory series titled “Bitcoin, The Origin”

NFT News

  • MoonCatsRescue: An old collectibles project was discovered that is thought to be the second oldest NFT project, the crypto community immediately jumped on them en masse.
  • Etheria: Another ancient Ethereum project from 2015 which has resurfaced due to the NFT craze is Etheria. Suddenly, plots of the blocky virtual land were trading with bids over 60 ETH.
  • Aphex Twin: The famous electronic musician surprised his fans with a surprise NFT drop on Foundation, an animation of his face titled /afx\/weirdcore\. No doubt to avoid the recent environmental hate around NFTs, he pledged to donate a portion of the auction to planting trees.
  • Oleksandra Oliynykova: In another crazy celebrity NFT release, this tennis pro is offering the highest bidder lifetime ownership of a section of her arm in the form of an NFT.