The DeGen Bible to Financial Freedom - Vol. 8

Week 29 Aug - 4 Sept 2022

Privacy is a human right, and so as crypto! - Mars Captain

🧠 Observations

• Will stop US stock correlation tracking, seeing less relevancy, even with high correlation. 😠
• Quiet week, feels like a storm going up following The Merge is coming. Can’t see any negative news out there, unless Celer Network collapses as hackers eye on bridges. 🥱
• Entering Q4, EU winter approaches, China Standing Committee meeting soon, Russia not backing down. Geopolitics matters. 🕳️

💵 Stablecoin & Market Landscape

Stablecoin market share remains EXTREME high in reference to the total crypto market capitalization. 15.4% of stablecoin (154.31B) on 1T crypto market. Flattening trend continues

• (From DeFiLama) MIM has been performing in the last 30 days. ‍👀
• Stablecoin market share remains EXTREME high in reference to the total crypto market capitalization. 15.4% of stablecoin (154.31B) on 1T crypto market. Flattening trend continues. 😭

Reminder: Mid-NOV 2021, this percentage was around 4ish% with a 3T total MC. Now we are at 15ish% with a 1ishT total MC.

• Now at1.02T, the last two months has been playing with the 1T MC line. 😓

Reminder: June 2022 witnessed a bottom of 800ish B MC vis-a-vis the market’s top in NOV 2022 at 3T.

• Mentioned this the 3rd time. Captain thinks that there will be a lot of values to capture in these L2s after the Merge, and in the next bull run. (Given ETH might capture even more market share in the crypto market.) 👨‍🏫

• In that sense, Celer must be handling a lot of attacks since Ronin. And, I bet at some point someone will break Celer and trigger another big headline. Is Polkadot’s XCM safer or risk-free by default? 🎭

• Me as a strong believer of DeFi, and so far the only business model in the blockchain economy that generates revenue. Being a top DEX is still an achievable and profitable goal for any DEX buidlers. 💪
• Curve must have suffered a lot in USTC & other stables blows. Still. That TVL is impressive. ☺️
• Why Sunswap is there though? ❓

• Web3 engineers won’t be afraid of inflation. ‍🧠

🔢 Index

• Stabilizing the 20ish zone for 2 weeks now 🤔

• We need more faith in the King. 👑

📰 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.

CoinDeskCoinDesk Staff

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.

CointelegraphCointelegraph

$SEAN Private Sale Round 2 — #SeanInvasion

LFG Starfishes, our Private Sale Round 1 witnessed an oversubscription way beyond the Starfish team’s expectations! Cheers mates, thank…

MediumStarfish Finance

Bitcoin:

Bitcoin mining difficulty jumps 9.26% in the largest increase since January

Bitcoin mining difficulty has increased by 9.26%, the largest increase since January and the third jump in a row.

The Block[email protected]

Bitcoin Dominance Drops Under 40% For The First Time Since January - The Defiant

ETH Miner Balances At All-Time Highs Ahead Of The Merge

The DefiantOwen Fernau

Layer 1s & DeFi:

Helium Developers Mull Migration of Crypto Wireless Network to Solana - Decrypt

If the proposal passes, Helium will move from its own chain to Solana, which should bring more speed, stability, and scalability.

DecryptAndrew Hayward

BNB Chain Introduces Liquid Staking to Provide Crypto Users Access to More Income Streams

Helio Money and Wombat Exchange also joined the liquid staking network.

CoinDeskAmitoj Singh

Ticketmaster taps Flow to let events issue NFTs tied to tickets

Ticketmaster is exploring the possibilities around web3, perhaps as a marketing tool or to see if it helps garner more fan engagement.

TechCrunchIvan Mehta

Polkadot Parachain Moonbeam Integrates Cross-Chain Messaging Protocol LayerZero

Developing Web3 interoperability via cross-chain messaging has become a growing trend.

CoinDeskCameron Thompson

Crypto Coin AVAX Drops 11% After Self-Described Whistleblower Says Avalanche Weaponized Litigation Against Rivals

Ava Labs CEO rejected the accusation as “conspiracy theory nonsense.”

CoinDeskOmkar Godbole

NFTs & Metaverse:

OpenSea Adds Polygon Support to Expand Features, Accept MATIC - Decrypt

The top NFT marketplace expands its Seaport implementation to support Polygon and a host of new features from the popular sidechain.

DecryptJason Nelson

NFT marketplace Sudoswap unveils governance token and retroactive airdrop

Today’s event makes Sudoswap the latest crypto project to issue its own token with a retroactive reward.

The Block3AC-labeled wallet withdraws $45 million from Curve and Convex

Meta now lets you add NFTs and other digital collectibles to Facebook

The firm’s move now brings NFTs and other digital collectibles to Facebook’s 2.9 billion users, expanding it from just Instagram.

The BlockSorare partners with NBA to launch fantasy basketball game

Macro Economy & Regulations:

Temasek to Lead $100 Million Funding for Crypto Landlord Animoca

Singapore state investor Temasek Holdings Pte. is joining a $100 million funding for Animoca Brands Corp., betting on one of crypto’s most prolific investment houses even after a $2 trillion market meltdown.

BloombergHannah Miller

Iran allows use of crypto for imports amid sanctions

Iran is allowing businesses to use crypto for import transactions. This could be a means of circumventing sanctions.

The BlockCelsius may have run a Ponzi-like scheme, states allege

Argentine Province Allows Millions to Pay Taxes Using Stablecoins - Decrypt

Residents of Argentina’s Mendoza province can now make tax payments in stablecoins like Tether’s USDT or MakerDAO’s DAI.

DecryptKate Irwin

Celsius Asks to Return Some Customer Funds in Court Filing - Decrypt

Bankrupt cryptocurrency lender Celsius is seeking to provide refunds to some users who remain locked out of their accounts.

DecryptMat Di Salvo

Interesting Tweets:

Thread by @wekaaxyz on Thread Reader App

@wekaaxyz: 1/ The launch of Kujira’s native stablecoin $USK and the subsequent relaunch of ORCA is on the horizon. What’s Kujira, ORCA, and why should you care? 🉐🐋 Thread 🧵 2/ Kujira originally launched ORCA on Terr...…

Thread ReaderWeka

Research Reports & Videos (DYOR):

After $177 Billion in Investment, Why Do Metaverse Graphics Still Suck? - Decrypt

The metaverse has been touted as the place where we’ll spend our lives in the future—but the visuals leave a lot to be desired.

DecryptChris Stokel-Walker

The Evolution of AMMs

The Complex History of the Future of Finance

Setira ResearchBenny Attar

From Silk Road to NFTs: Why Musician and Artist Tycho Sees Web3 as the ‘Endgame’ - Decrypt

Grammy-nominated artist Tycho, aka Scott Hansen or ISO50, has created his own Web3 community and believes crypto will soon become “the norm.”

DecryptKate Irwin

Has the crypto credit storm settled?

While crypto lending data is scarce, Nexo’s daily customer liability attestations indicate that the crypto credit storm has settled, with users again returning to the lending market.

Arcane ResearchVetle Lunde

Navigating Web3 Compensation: A Framework Report

At Framework, we believe it is our responsibility to help foster the growth of the wider crypto industry. In an effort to be good stewards…

MediumFramework Ventures

https://messari.io/report/klaytn-the-enterprise-grade-evm?__s=i056afg8hdddxaa8jsd2&utm_source=drip&utm_medium=email&utm_campaign=Pop%2C+Lock%2C+and+Rocket

‘I Would Never Date a Crypto Guy Again.’ What Women Say About Dating in Crypto

Three women share how greed, gluttony and pride have turned them off from dating crypto bros.

CoinDeskDoreen Wang

When White Hat Hackers Go Bad

Even the most ethical hacker can be lured in by the seven deadly sins of pen-testing. This article is part of CoinDesk’s Sin Week series.

CoinDeskLuis Lubeck