No Fade Summer

Happy 50th birthday to the fiat dollar! August 15th marked the anniversary of when the dollar became a full fiat currency in 1971, not backed by gold, but by the government’s words. Looking at the current situation… Will the future chronicles of history describe it as one of our greatest financial crimes?

Fed Chair Powell is scheduled to speak tomorrow, watch out for any headlines that come out of the media if he mentions tapering. Could be the volatility event of the week that slows this summer pump!

Crypto News

  • Walmart: The major US chain is looking for someone to lead their cryptocurrency plans, with a job ad mentioning the need for someone to create their whole digital currency strategy.
  • Solana: Is the Solana Summer everyone hyped up finally here? SOL price is currently on the move and set a new ATH of $60+. Expecting new assets from Solana DeFi products such as RAY, SBR, MNGO, MER, or STEP to follow!
  • VeChain: Very bullish partnership news for VET, MasterCard, and Alibaba joined the team’s blockchain alliance. Collaboration is planned around tracking food, wine, and exports via blockchain technology.

DeFi News

  • Poly Network: The solidity hacker who returned the $600 Million worth of crypto has reportedly turned down a bug bounty reward of $500,000 and immunity. Before sending the stolen funds back, the hacker taunted the team by publicly asking how to launder the money.
  • Symmetry: Definitely a project to keep your eyes on with current interest in Solana, building a portfolio tracker, DEX, and index protocol. The Dev team seems to be very active, releasing a sneak peek on Twitter last week.
  • Andre Cronje: Released a prototype contract for a new approach to liquidity mining, where rewards would be distributed as call options. The idea is to stop farmers from aggressively dumping reward tokens. Seems like a novel approach, but unsure if people will be inclined to leave the current world of receiving rewards for nothing.
  • Anchor Protocol: Seems the dev team is in hot water after an article was published that outlined how the protocol has been rigged to give the dev max profit on liquidations. Another question we could ask is why the design includes a centralized price feed/oracle in the first place?
  • Anyswap: The V3 release of its router for cross-chain swaps means the platform has started to collect fees, supporting token swaps across ETH, Polygon, FTM, BSC, OEC. So more rewards for ANY stakers? One to watch!
  • Kyber Network: Beta phase of its new DMM exchange crossed over $500M in TVL, farming opportunities available to earn MATIC and KNC tokens in rewards in ETH, USDC, and WBTC pools.
  • CREAM: New iceCREAM staking model is live and already 41,000 CREAM is locked up for 3 years, that’s 5% of the supply in just a couple of days. This is a fork of Curve’s fee-sharing model (veCRV), looking bullish for CREAM token!

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.

Estamos hechos de mil ojos

We are made of a thousand eyes...

NFT News

  • Theta Network: Announced a partnership with ONE championship to launch an NFT marketplace that will celebrate ONE’s athletes and memorable moments.
  • StepHero: Growing RPG game powered by NFTs and Binance Smart Chain, looks to be gaining momentum quickly. The native token for the platform is HERO and can be traded on Pancakeswap.
  • Ethernaal: Interesting concept here, creating a DAO for tattoo artists that allow their designs to be converted into NFTs. The platform is powered by NF2T (Non-fungible Tattoo Token), one to research!