The first country to airdrop BTC to its whole population, don’t think anyone had that on their 2021 bull run list. Nayib Bukele has pledged to send $30 in Bitcoin to every El Salvadoran, which would work out roughly at $150 million in BTC. Though it seems this might just be a way to promote their Chivo wallet, still free is free!
With fear and greed on the rise, it seems that the number of rugpulls and exploits is increasing heavily. For the humble yield farmers, I recommend following accounts such as Rugdoc and DefiYield who are great at mentioning why certain farms are high risk and quick to alert users of fraudulent teams. They both cover protocols on Ethereum, BSC, and Polygon.
Here is an interesting Friday thought brought up on Crypto Twitter: PayPal in 2020 settled $936 billion in payments. During May 2021, Ethereum settled the same amount within 17 days. And despite Eth having a ton more economic activity happening on its platform, it’s valued less than PayPal. So which platform is overvalued/undervalued? Come let us know in our discord.
- FTX: Announced an official partnership with Major League Baseball, initially this means there will be FTX logos all over MLB umpire’s uniform. This is the type of marketing that will onboard new users into crypto via FTX Exchange, which is good news for FTT holders.
- Coinbase: Received approval to enter Japanese markets, the local financial regulator has approved Coinbase to trade five cryptocurrencies which are BTC, BCH, ETH, XLM, and LTC.
- a16z: Launched the largest crypto fund ever to date, known as Crypto Fund III, which will have more than $2.2 billion for investments. Looks like the VCs have no fears of slowing down despite the market downtrend, good news for visionaries and DeFi builders!
- Solana: Over 50 tokenized stocks are being traded on the Solana network, launched by Digital Assets AG (which deals with powering the stock trading on FTX Exchange). Users can now choose to withdraw their stock tokens to their wallets, and trade on decentralized exchanges such as Serum.
- Eleven Finance: A popular yield aggregator on BSC got hit by an exploit where the hacker was able to steal $4.5M, the attack targeted the platform’s NRV vault. Peckshield labeled the hack on a dumb logic issue and said it was a shockingly simple exploit.
- Mirror Protocol: Launched V2 which improves incentives for governance participation along with new collateral options (LUNA, MIR, ANC, aUST) and provides shorting incentives. A good platform for bears then?
- Solidify: Perhaps help is on the way for users to quickly audit smart contracts and DeFi clones, this analysis tool launched by Coinbase aims to automatically detect security risks.
- EIP1559: I know… I know… I am talking about Ethereum upgrade EIP1559 AGAIN. Well, one thing we haven’t mentioned is how the change should enable wallets to deal with gas fees much better, meaning no more frustrations of stuck transactions blocking up your wallet. Great for novice onboarding and adoption.
- iExec: Revolut announced it will be listing RLC tokens for buying and selling, that’s a market of over 15 million users. It’s already one of the most popular tokens on the platform. Does seem like iExec is a very popular project in Europe, would be good to see them find more traction in Asia/North America. Learn more about RLC in our review here.
- Antimatter: The new version of the platform is live on testnet, the new release aims to provide a simple and intuitive interface for decentralized option trading. While MATTER is now down by over 90% from its ATH, the team is actively building, is cross-chain, and has strong fundamentals. Do believe this platform will be around long term, so be sure to give it a whirl.
- Raydium: Announced Solrise Finance will be launching on AcceleRaytor via an IDO for SLRS token, no details yet on how many RAY tokens you need to be staking to access the token sale pools.
- Radix: This is a project that seems to have been building forever, we’re talking Cardano lengths of development. Well, they’ve announced the public mainnet launch is scheduled for June 30th. Interesting as it’s a Layer1 chain built specifically for DeFi use cases.
- SYP Protocol: An asset management protocol for creating and pooling synthetic assets, powered by SYP token on Solana. Mainnet has not yet launched so this is one to research and follow!
- Stake DAO: Who said stablecoin yield farming was only for USD? Check out Stake DAO’s Passive EURS Strategy, currently, sitting around ~24% APY. And don’t forget to stake those SDT rewards in their governance pool, compounding!
- Oraichain: Announced a partnership with Plasm Network, to create AI processed data and price feeds. This will be compatible with Polkadot, Plasm, and Shiden Network. Learn more about Oraichain’s oracle solution in our full review here.
- Solscan: If you’ve been getting lost in Solana’s block explorers, this one follows the userface we know and love from Etherscan.
Be sure to check the listing to view the digital crypto artwork in its full glory, as some art is animated or contains audio.
The UFO want Bitcoin
A bitcoin landed on a piece of land lost in the world and got stuck on it. The Bitcoin looks alive and still has its parachute attached. A ufo has noticed what happened and wants to save in Bitcoin and appropriate it thanks to its powerful rays...
- Binance NFT: The biggest non-fungible token news this week is the launch of Binance’s native NFT marketplace. There are several drops lined up to celebrate the launch, which has all been selling out near immediately.
- Bublhost: Upcoming project to follow, innovatively using NFTs on Solana to power decentralized event hosting and ticketing. Very cool!
- Coral Reef: This NFT marketplace enables creators to mint their NFT and then immediately fractionalize it, creating liquidity by allowing users to buy percentages of the art piece in the form of tokens. Currently live on Solana, meaning the tokens are tradable on Serum DEX. Not much information about the project yet, might have a native governance token in the future?