The DeGen Bible to Financial Freedom - Vol. 15

The DeGen Bible to Financial Freedom - Vol. 15

Week 12 Dec - 19 Dec 2022

Top News: $DOT liquid staking is coming soon👀

Merry Crypstmas❄️ - Mars Captain

🧠 Observations

  • Binance FUD, BUSD FUD, BNB FUD. People just shut up in <2 days. This is crypto speed. 🤡
  • We can finish the year now and wait for 2023. A stable, steady and calm year ahead hopefully. (Unless Justin SUN wants to be the next star.) 🎉

💵 Stablecoin & Market Landscape

Stablecoin market share remains EXTREME high in reference to the total crypto market capitalization. 16.77% of stablecoin (140.5B) on 0.83T crypto market.

  • Stablecoin market share remains EXTREME high in reference to the total crypto market capitalization. 16.77% of stablecoin (140.5B) on 0.83T crypto market. 🐻
Reminder: Mid-NOV 2021, this percentage was around 4ish% with a 3T total MC. Now we are at 15ish% with a 1ishT total MC.

Total Crypto Market Cap Chart
  • Now at 0.83T. We are at the lowest point since NOV 2021. Still navigating. Close to JUNE 2022 level now. 🥶
Reminder: June 2022 witnessed a bottom of 800ish B MC vis-a-vis the market’s top in NOV 2021 at 3T.

Crypto Demographics
  • Degens should be a complement, they are adventurers. BTC started as a degen bet, to be fair. 😳

  • A lot of moves lately with Pancake going cross-chain on Aptos, Layer 0. 👀
  • Expect going further in the next bull. 👀


  • A serious joke is the best definition of metaverse. 😂

Binance FUD Outflow

  • The great migration 👍
  • Again. If we are to believe in CZ, the solvency actually consolidates Binance branding. He’s building a winner takes it all landscape. 🤡

🔢 Index

  • Amidst Binance FUD, no one’s fearing anything? Something’s off. ❓

  • Quietly finishing the year. 😇

📰 Current affairs

Starfish Finance:

Starfish Finance II - Attack of the (Dapp) Clones
Far beyond Earth and millions of miles past the moon, there’s a planet where Decentralized Finance (DeFi) and NFT-Fi meet on an interoperable network. First observed in 2022, the world known as “Starfish Planet” is home to degens, hodlers, frens and a starfish named Sean.
Starfish Finance: A cross-chain DeFi, NFT-finance platform on Astar Network, a Polkadot parachain
Starfish Finance is a pioneer project in the Astar incubation project and the first decentralized finance (DeFi) and nonfungible token (NFT) finance platform on Astar Network.

Layer 1s & DeFi:

MetaMask Launches PayPal Integration for Ethereum Purchases - Decrypt
Some U.S. MetaMask users can now venture deeper into Web3 by buying Ethereum directly from their wallet using PayPal.
Tron’s Justin Sun ‘Deploying More Capital’ to Stop Stablecoin USDD’s Slide - Decrypt
Justin Sun posted a meme riffing on Terra’s Do Kwon as Tron’s native stablecoin USDD slipped to $0.97 on Monday.
DeFi’s Central Bank MakerDAO Relaunches 1% Fixed Yield for DAI Holders - Decrypt
Following an executive vote, DAI holders that deposit their holdings into the “DAI Savings Rate” smart contract can rake in a fixed yield.
No withdrawals on OKX for almost seven hours amid cloud failure
Crypto exchange OKX hasn’t processed any withdrawals for almost seven hours owing to a failure with its cloud services provider.
TrueUSD’s Offshore Chinese Yuan-Pegged TCNH Stablecoin Launches on Tron - Decrypt
The digital asset will be pegged 1:1 to Offshore Chinese Yuan, offering a new trading option for Tron’s tens of millions of users. (Sponsored post by Tron)

Macro Economy & Regulations:

Cumberland sees better days for crypto in 2023 after market ‘rewires itself’
Market recovery will be linked to adoption and the Chicago-based firm sees deficit of crypto, not a surplus.
FTX Founder Sam Bankman-Fried Arrested in the Bahamas
U.S. authorities filed criminal charges against Bankman-Fried, and the Bahamas intends to extradite him once U.S. officials request it.
Crypto Exchange Binance.US Introduces Payments Service for Customers
The feature for users outside the U.S. started in February 2021.
Binance’s CZ Welcomes ‘Stress Test’ as Exchange Resumes USDC Withdrawals
The world’s largest crypto exchange by trading volume has endured a wave a withdrawals amid concerns about reserves. Withdrawals of the stablecoin USDC were paused for several hours but have now resumed.
Warren, Marshall introduce bill to tighten money laundering rules for crypto
If made law, the bill would require digital asset service providers, miners, and network participants to follow know-your-customer rules and prohibit the traditional financial system from interacting with transaction mixers.
Why Hong Kong Is Pushing for Its Own Central Bank Digital Currency
As a global financial hub, Hong Kong has a vested interest in shaping the development of CBDCs and especially the systems in which they will transact across borders. But the U.S. should be concerned by its lack of full independence from mainland China.
Crypto Lender Amber Raises $300M To Avoid ‘Significant Drawdowns’
Amber Group secures funding at an even valuation amid a tough crypto market, which has seen the firm cut staff and cancel expansion plans.

Research Reports & Videos (DYOR):

Birth of the Network Nations
Balaji Srinivasan says “network states” – Web3 communities with the capacity for collective actions – can replace traditional geographically-bounded states. His thesis, laid out in a new book, is one of the BIG IDEAs of the last year.
Learn Solidity – A Handbook for Smart Contract Development
When I changed careers from lawyer to software engineer [/news/from-lawyer-to-google-engineer/] in 2018, I never imagined that I’d enjoy being a developer as much as I do. I also never thought I’d end up working for amazing organizations like Google [/news/coding-interview-prep-for-big-tech/] and C…
A few of the things we’re excited about in crypto
a16z crypto is a venture capital fund that invests in crypto and web3 startups. We back bold entrepreneurs building the next generation of the internet (what many call web3), which unlocks a new wave of creativity and entrepreneurship.

A Supreme Court case could kill Facebook and other socials — allowing blockchain to replace them
If the Supreme Court decides to strike down Section 230, it’s going to become considerably more difficult for centralized social media companies to operate.