Up in Flames

Ethereum is burning! Deflationary upgrade EIP-1559 is here, check this handy dashboard to follow ETH being destroyed in real-time. I believe the deflationary changes are not priced in, and that we won’t start to see the impact until another 3 to 6 months. Much like the BTC halving in May 2020, where we saw the pump started later in October.

Don’t forget!

Meanwhile, this weekend could be extremely volatile. Would recommend against forcing any trades, just relax and see how things look on Monday/Tuesday. The reason being that amendment votes for the new US infrastructure bill happen on Saturday, if anything is perceived as negative, then whole crypto markets could dump. Already it’s not looking good, as senators are trying to sneak in some last-minute changes.

Crypto News

DeFi News

  • TrueFi: Announced a $12.5 million fundraise led by Alameda Research, a16z, and Blocktower. Looks promising that TUSD & TRU will become a staple stablecoin/defi platform on Solana? Learn more about the TRU token here.
  • Kyber Network: Raised $6.6M to build their multi-chain DeFi management platform, which will be known as Krystal. The investment round was led by Hashed and includes VCs such as Crypto.com, Coin98, Signum Capital, and more.
  • Cono Finance: If you’re using AaveAave on Polygon to increase your yield farming strategies through leverage, then check out this tool from Gelato to automatically protect you from liquidations. Auto-pilot life!
  • Compound: Added MKR, AAVE, SUSHI, and YFI to the platform as collateral options for decentralized loans. This means you can now earn interest on these assets also.
  • Ren Protocol: Announced support for renBTC and renZEC on Railgun, which is a layer2 network using ZK-SNARK technology to bring privacy attributes. When using Railgun your wallet address will not be connected to your actions, meaning no public ledger. Learn more about RenBridge in our full overview here.
  • Request Network: Added three more chains to their platform during July (Polygon, Fuse, and Fantom) along with several dashboard improvements to make bookkeeping even easier. Don’t sleep on REQ, the team is pushing hard!
  • Parrot: Announced a partnership is coming with Francium DeFi to set up a lending pool for PAI stablecoin. Meaning soon you will be able to earn interest on your PAI and use it as collateral in the leveraged farming platform on Solana. Should make some interesting DeFi strategies!
  • Phantom: Now supports native SOL staking in just three clicks. Meaning you can help secure the Solana network by staking with a validator and earn rewards.

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.

Flame Dance

Digital Painting with ArtRage & FlamePainter.

NFT News