Hail The King?

crypto newsletter monday april 12th 2020 defi and nft latest updates

The Coinbase IPO on 14th April will be the talk of the week, and the Industry seems a bit torn on what this means for the short term. A cycle top where we sell the news? Or the event that attracts more bullish buying? Beware that if the IPO isn’t a success it could be a dark omen for exchange utility tokens such as FTT or KCS.

Well, either way, it’s a catalyst event for the industry and you should all be watching closely. Those who want to be overly cautious may want to reduce their Altcoin exposure. Lately, Bitcoin dominance has dropped but this is the type of event that could wake the king up.

Crypto News

DeFi News

  • Raydium: Announced AcceleRaytor, an upcoming launchpad platform for IDOs on Raydium. To participate in a presale, users must stake a minimum of 20 RAY in the pool.
  • Waffle Exchange: Upcoming DEX aggregator on Binance Smart Chain with launchpad features, presale is scheduled for Friday 16th April. Might be one to start researching!
  • Covalent: Announced its plans to launch on Moonbeam, an Ethereum-compatible smart contract parachain on Polkadot. The decision is mostly based on micro-transaction being impractical on Ethereum due to high gas fees. Moonbeam is not live yet, so we will have to stay tuned!
  • Lido: There are now over 200,000 ETH staked with Lido, the project making ETH 2.0 liquid and usable in DeFi today. Read up our full report on Lido here.
  • Pancakeswap: Surpassed Coinbase Pro and Uniswap in trading volume, making it a Top 10 cryptocurrency exchange when ranked by volume. Good news for CAKE holders! And yes they finally added a switch to turn off the flip sound.
  • Modefi: Announced the release of their beta oracle aggregator, providing decentralized on-chain pricing feeds for LINK, DIA, TRB, UNI, COMP, and MKR. More to come, one to watch!
  • Basket DAO: Capital-efficient baskets on Ethereum, this team is building DeFi indexes but using an interest-bearing form of the underlying token. Compound’s UNI instead of UNI or xSUSHI instead of SUSHI, so you’re always getting paid. Check it out!
  • Cream Finance: Launched cross-chain flash loans supporting Ethereum, Binance Smart Chain, and Fantom. It’s also cross-protocol as it supports its Iron Bank product which means it offers the widest set of assets available for flash loans. Check out our review on CREAM here.
  • 0xPolygon: Announced collaboration with Ankr for API services on Layer2, which will help more building and scalability for DeFi products. Learn more about Ankr and Stkr Protocol 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.

The Blockchain

Symbiotic crypto-currency relationships

NFT News

  • Ethernity Chain: Announced that all revenue from the project’s NFTs will be reinvested into ERN staking and rewards pools. The artwork will feature top artists and stars from sports, music, film, gaming, tech, and entertainment.
  • Polkastarter: Is bringing NFT farming to Polkadot, users will be able to stake POLS to earn handcrafted NFTs. And the NFTs will then provide holders with exclusive access to launch pools on the platform. Check out our full review on Polkastarter here.
  • PolkaDomain: Free crypto? 200,000 NAME tokens will be airdropped, just a couple of steps to complete. So why not.