Daily Crypto NewsEDITION #29, 03 February 2022

The market walks on sh!t

Hey Moni Maker

You know... I had a story. I and the boys went into the woods one day. One of them stepped in shit, we laughed a long time, but it turned out to be a swamp... barely got him out. 

SO WHAT. The current market reminds me of that kid... The guys from Delta.Theta and Moni Talks are laughing. I'll tell them about the market and make them cry. 

Let's go! 

Comrades, I like diving and all that stuff, but maybe it's time to resurface?  Bitcoins are being withdrawn, ETFs are being approved, what else is needed... 

Despite TVL's overall decline (minus 3 billion), Ether lost virtually nothing. 

Float of the week: dForce (+544%) 

BSC is also stable, with no change for the week. 

Gainer of the week: Welnance (+170%)

SOLANA TVL also practices lateral movement. What a flash mob...  

 Plus of the week: Drift (+39.51%)

Polygon only rises when others fall! +400 million for the week.

Consolation of the week: Moonfarm (+51.87%)

AVALANCHE bounces off the bottom and adds 300 million! But where is the old power? Where's the old spirit? 

Leader of the week: Cleopatra DAO (+88.97%)

FANTOM is down 1.3 billion for the week (but was up 2 billion in the weekly haul). But it retained its 3rd place among the protocols.

Opening of the week: EverRise (+221%) 

Projects' News

Wonderland 

The Wonderland decentralised financial protocol story has taken a new turn, with token holders voting to continue operating the protocol in an as-yet-undefined format after a scandal involving the head of treasury undermined the credibility of the protocol's leadership. But by the end of Monday's vote, 55% of token holders had backed Wonderland co-founder Daniele Sestagalli in a vote against winding down the project and returning treasury funds to investors. Supporters of the project must now await Sestagalli's decision on the as yet undetermined proposal for the future of their money.

I've purposely kept my jokes to a minimum and kept the text as dry as possible. Otherwise, everyone has already made jokes about them... 

Ren 

Following the previous discussion, a new proposal within the Ren DAO aims to finalise the Ren protocol commission adjustment for burn and mint commissions and establish a harmonised commission for the new BurnAndMint transaction type. The new BurnAndMint transaction type will be implemented when the UI for H2H is launched. The current fee for the Mint transaction type is 0.36%, and the fee for the Burn transaction type is 0.07%.

Spooky Swap

The proposal currently being voted on by SpookySwap DAO seeks approval to sell BOO for USD 500k to Hector DAO. The proposal follows a vote by Hector DAO to buy BOO tokens as an investment. Thus, SpookySwap DAO aims to offer over-the-counter BOO tokens at a market price. USDC proceeds from the sale will be used to diversify and strengthen SpookySwap DAO's treasure.

AAVE

The first cross-chain management offer on the decentralised Aave (AAVE) ledger platform was accepted on Monday. Currently, the total blockchain value on Aave is around $12bn. The proposal submitted to Aave (built on Ethereum) was sent to FxPortal on Polygon (MATIC). The engine then read the Ethereum data and passed it to Polygon's network for validation. Once validated, Aave's bridge cross-chain management contract received this data, decoded it and queued it for execution, waiting for a temporary blockchain to complete.

And now I'm going to share some interesting farming ideas with you. I've listed them down into three parts by risk profile: low, medium, and high (IT’S REALLY DANGEROUS).

Even though Delta.Theta did a good analysis, DYOR on your part is necessary! DYOR is a f@cking mask when you walk into a store! You can't go into projects without it! Gooooo!


Low Risk

Put your USDC to BooFinance, and if their token goes up, you'll get a lot more than the percentages in the picture (probably better to research it yourself).

Medium Risk

Stake Koala and chilli with no impermanent loss!

High Risk

There's no bad profit in this bar, but remember: if you drink vodka, take care of your deposit!

Anyway, if you lose the money, don't even think about coming to my ranch. I'll cut your ass off and you won't be able to sit in crypto anymore. All right, I'm kidding. I'm gonna go finish my milk and go to sleep.

Follow my homies everywhere. Otherwise, there won't be any more digests!

Delta.Theta: Twitter and Telegram.

Moni Talks: Twitter and Telegram. And leave your feedback in the chat. If you don't, I'll shoot you in the face. See, farmer.