Magic 8

dExplain nft crypto newsletter defi nfts

As of now, 88.8% of all BTC has been mined on March 8th? Might as well use the power of the eight-ball algorithm to make mad gainz today. After all stimulus rally is coming. Will it have the positive impact everyone expects, or maybe this time it will be different? Hedge your bets.

Crypto News

  • Apple Pay: VP Jennifer Bailey confirmed they’re watching cryptocurrency for its long-term potential, but their main focus is on what consumers use today.
  • Ethereum: It’s been decided that EIP-1559 will go live in July 2021, this proposal introduces a set rate for network fees to keep them from spiking. More importantly, it will also burn transaction fees instead of ETH paying the miners. Good for users but miners are not happy!
  • Bitcoin: According to research by Glassnode, first-time BTC buyers in 2021 did not panic sell during the last dips. Perhaps a sign that these buyers are institutions? Corporate adoption continues to grow with Asian tech giant Meitu reporting its first buy.
  • Ripple: Finally some good news for XRP holders, reportedly the Central Bank of France is looking at Ripple to power a digital version of the Euro.
  • IOST: Announced a partnership with Polkadot, collaboration is planned around cross-chain interoperability. Announcement mentions that their testnet code for a cross-chain bridge is already being tested successfully, so expect follow up releases soon!

DeFi News

  • PAID Network: Following an exploit that minted millions of new PAID tokens, the price crashed by over 80% in a matter of minutes. A leaked private key enabled the attacker to upgrade the smart contract in a way to include minting new tokens.
  • SushiSwap: Devs announced Kashi Lending will be live Friday, this product will enable 1 click leverage trading for any pairs.
  • ZKSwap: If you provided liquidity on Pancakeswap or Mdex, then you might have a nice ZKS airdrop waiting for you. ZKSwap is a Layer2 AMM on Ethereum using ZK-Rollups like Loopring for instant transactions with low fees.  
  • Iron Finance: This team has launched a partial-collateralized stablecoin on Binance Smart Chain, a fork of FRAX on Ethereum. Very new so consider experimental, good to see a fully developed custom UI and they have partnered with Value DeFi for the initial farms.
  • PlasmaSwap: This new DEX from Plasma Finance enables stop-loss functionality and single transaction liquidity rebalancing. No need to submit multiple transactions to move your liquidity from Uniswap to PlasmaSwap. Very cool!
  • Alpha Finance: Announced liquidity mining and rewards for Alpha Homora V1 and V2 users will be extended until April 11th. Check out our full review of ALPHA token here.
  • PancakeSwap: The next IFO to be hosted via PancakeSwap will be Belt Finance, a multi yield protocol for stablecoins. Belt aims to create yield opportunities with the lowest risk by ensuring slippage and impermanent loss is nearly non-existent.
  • Token Sniffer: Recommend you bookmark this tool, a list of latest scams and hacks on Ethereum and Binance Smart Chain. Keeps track of newly created tokens along with checking if their token contract is similar to existing tokens or contains a proxy contract.

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.


NFT News

  • Atari: Announced the launch of a virtual world cryptocurrency casino on Ethereum through a partnership with Decentral Games. This is the legendary gaming company behind Pacman, Asteroids, and Pong.
  • Jack Dorsey: Is accepting bids to own the first-ever tweet made, the highest bid is currently $2.5M – this seems a bit excessive, no?
  • Omniflix: An upcoming p2p NFT marketplace powered by a Cosmos/tendermint based blockchain will support minting and monetizing all forms of digital media assets.
  • Curio: The brand and content NFT platform announced it had raised $1.2M in its seed round. Participants included A195 Capital, LongHash Ventures, MoonWhale Ventures, along with former Time Inc. CEO and Fox Entertainment executive Rich Battista.