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DeFi Alpha Call #28 Recap

yyctrader — Thu, 24 Nov 2022 04:16:32 GMT

Hello Defiers! This is a recap of our latest DeFi Alpha Call that took place on 11/21/2022 in Discord.

TIMESTAMPS

02:24 - Market Overview
08:14 - NFT Roundup
12:40 - Beginner Tutorial > Earn Up to 17% APR with wstETH/ETH LP on KyberSwap on Optimism
13:53 - Degen Tutorial > Using the SEI Testnet For A Potential Airdrop

DeFi Alpha is a weekly newsletter published for our premium subscribers, contributed by Defiant Advisor and DeFi investor at 4RC, DeFi Dad, and our Degen in Chief yyctrader. It aims to educate traders, investors, and newcomers about investment opportunities in decentralized finance, as well as provide primers and guides about its emerging platforms.

Market Overview

Despite being in a seasonally strong period, the market is just waiting for the liquidity issues around DCG and Genesis to be addressed.

If they are successful in addressing the FUD or raising the funding that they are looking for from any source, the market is likely to stage a relief rally from oversold conditions.

ETH

We're back in the old range.
1100 area is still holding as support. This would be the fourth or fifth time it's been tested and the bulls are hoping it holds again.
The first hurdle is making it back up to the top of the range in the 1280 area.
Another rejection at the 200DMA shows that the market is not yet ready to start a new uptrend.

What happens next?

🚣🏽‍♀️ Stablecoins Show Signs of Stabilizing After FTX Storm

Wed, 23 Nov 2022 13:30:50 GMT

Hello Defiers! Here’s what we are covering today:

News

Podcast

Video

Tornado Cash Developer’s First Public Hearing

Trending in The Defiant

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Stablecoins

🚣🏽‍♀️ Stablecoins Show Signs of Stabilizing After FTX Storm

TVL for Top Five Stablecoins Falls 18% Since FTX Meltdown

By Owen Fernau

DROP Just as stablecoins were becoming, well, stable again after the $60B collapse of the Terra ecosystem in May, the FTX disaster struck and pegged tokens have been whipsawed ever since. The total value (TVL) of the top five stablecoins in DeFi has dropped 18%, to $2.64B since Nov. 6, according to DeFi Llama.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Stablecoins

📄 Curve Releases Whitepaper for crvUSD Stablecoin

Overcollateralized Design Will Use a Novel Lending-Liquidating AMM Algorithm (LLAMMA)

By Aleksandar Gilbert

NEWS Curve, the second largest decentralized exchange on Ethereum, has released a whitepaper detailing its forthcoming stablecoin, sending the price of its CRV governance token soaring. CRV, which had declined steadily over the past week, jumped 15% after the white paper was released, making it the best-performing crypto token over the preceding 24 hours.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Sponsored Post

Waves.Exchange has rebranded to WX.Network and now it is more than a decentralized exchange. Since its launch five years ago, services have expanded and Waves.Exchange became a robust platform for self-sovereign crypto management with a suite of investment tools in a convenient interface.

In just 2 clicks, you can start your own token right from the platform user interface. Get the verification for the token and launch your own liquidity pool.

WX.Network team wants to welcome new projects, so they are giving away up to $70,000 to those users who start the best tokens, with real utility!

You should just be clear on the use case for your token and create something of value that people would actually want to use.

Go here to the token creation page (create an account first)
Fill in the form describing your token economics
Click “Create Token:
Your token is created and you’re entered into the lottery
The campaign will run until December 1st

Crypto Derivatives

♾ Crypto Perpetual Open Interest Dives 43% in Wake of FTX Collapse

Binance Holds a Larger Piece of a Smaller Pie

By Tarang Khaitan

SHOCKWAVES As the shockwaves from the collapse of FTX continue to ripple through crypto, open interest in perpetual swaps has taken a massive hit. The now-defunct exchange accounted for nearly a quarter of the market prior to its downfall, according to data analytics firm Messari.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Fan Tokens

⚽️ World Cup Fan Tokens Rise and Fall With Action on the Pitch

Argentina’s Fan Token Slumps After Shock Loss to Saudi Arabia

By Samuel Haig

UPSET When Saudi Arabia stunned Argentina in the World Cup 2-1 on Tuesday, the Middle Eastern nation’s fans rejoiced and sports pundits discussed every facet of the most shocking upset in the tournament’s history. Oh, and ARG also lost a third of its value in two hours.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Defiant Video

📺 Tornado Cash Developer’s First Public Hearing

Podcast Video

📺 JPMorgan’s First DeFi Trade: Behind The Scenes

Trending in The Defiant

Avalanche Surges to New High in Boost for ‘Subnet’ Strategy Avalanche is on a roll. Even as crypto wrestles with existential questions in the wake of the FTX disaster, transaction volumes on Avalanche, a Layer 1 network, surged to new highs in the third quarter amid the growth of its DFK Chain subnet.
Crypto Users Jump to DeFi Platforms in Wake of FTX’s CeFi Crash
Don’t look now, but the FTX collapse has spurred a wave of interest in decentralized finance platforms.
Solana Endures ‘Crucible’ as FTX Connection Deletes 70% of TVL
There was a time when Solana’s relationship with Sam Bankman-Fried was a good thing. Not anymore.
🧑‍💻 ✍️ News stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, yyctrader, and contributors, and are edited by Edward Robinson, yyctrader and Camila Russo. The video team is led by Alp Gasimov. The podcast is led by Camila.
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🏂Avalanche and MakerDAO Race Forward Amid FTX Fallout

yyctrader — Tue, 22 Nov 2022 22:34:06 GMT

Hello Defiers! Here’s what we are covering today:

News

Opinion

How Zero Knowledge Proofs Can Restore Digital Trust

Podcast

Video

A word from our wonderful sponsors, who make this newsletter possible:

Layer 1s

Avalanche Surges to New High in Boost for ‘Subnet’ Strategy

DFK Chain Subnet Drives 51% Jump in Transactions Processed in September

By Samuel Haig

Avalanche is on a roll. Even as crypto wrestles with existential questions in the wake of the FTX disaster, transaction volumes on Avalanche, a Layer 1 network, surged to new highs in the third quarter amid the growth of its DFK Chain subnet.

Read the full story on The Defiant

FTX Crisis: Hacks

FTX Hacker Offloads Over $59M of ETH and Sells for BTC

ox59 still has over 200,735 ETH, worth around $236M, in its wallet

By Aleksandar Gilbert

The hacker behind one of the wallets that drained the failed FTX exchange is offloading several millions of dollars worth of Ether, causing a further slide in the cryptocurrency.

Read the full story on The Defiant

Sponsored Post

In just 2 clicks, you can start your own token right from the platform user interface. Get the verification for the token and launch your own liquidity pool.

WX.Network team wants to welcome new projects, so they are giving away up to $70,000 to those users who start the best tokens, with real utility!

You should just be clear on the use case for your token and create something of value that people would actually want to use.

Go here to the token creation page (create an account first)
Fill in the form describing your token economics
Click “Create Token:
Your token is created and you’re entered into the lottery
The campaign will run until December 1st

Ethereum Staking

MakerDAO Brings Aboard Rocket Pool’s LSD Token

Deal Challenges Liquidity Staking Giant Lido

By Samuel Haig

In a deal that may ratchet up competition for staking giant Lido, MakerDAO, the No. 1 DeFi protocol, has embraced Rocket Pool’s liquid staking derivative (LSD) token. Users can now use that token, rETH, as collateral for minting Maker’s DAI stablecoin. Oasis.app, a popular portal for MakerDAO, also launched support for rETH. Users can access leveraged exposed to rETH using Oasis’ “Multiply” feature.

Read the full story on The Defiant

FTX Crisis: Regulators

FTX Hack Mystery Deepens with Statement from Bahamian Regulators

Nearly $500M Was Drained From Bankrupt Exchange On Nov. 11

By Aleksandar Gilbert

Bahamian regulators are not responsible for the $477M hack of bankrupt crypto exchange FTX on Nov. 11, according to blockchain research firm Chainalysis. Chainalysis is among several firms hired by FTX’s new leadership to assist in bankruptcy proceedings, according to court documents filed this week.

“Some funds were stolen, and other funds were sent to the regulators,” Chainalysis said on Twitter.

Read the full story on The Defiant

FTX Crisis: Contagion

Grayscale Reassures Investors After Sister Firm Seeks Emergency Funding

By Owen Fernau

Grayscale, the issuer of the world’s largest publicly traded crypto fund, is hoping to reassure investors that the digital assets backing its products are safe. Grayscale is owned by Digital Currency Group, which is being scrutinized by investors after another subsidiary, Genesis Global Capital, reportedly sought an emergency loan of $1B last week in the wake of FTX’s collapse.

Read the full story on The Defiant

DEXs

Uniswap Riles Up Users With Plan to Share Wallet Addresses

New Privacy Policy Says Exchange May Share Personal Data in Certain Cases

By Samuel Haig

Uniswap, the top decentralized exchange by trade volume, is taking flak after its new privacy policy revealed on Nov. 17 that Uniswap Labs may share wallet addresses with third parties in the event of regulatory or legal proceedings.

Read the full story on The Defiant

Opinion

How Zero Knowledge Proofs Can Restore Digital Trust

New Technology Can Deliver a User-Controlled Web and Propel the Expansion of DeFi

By Evan Shapiro

Cryptography and encryption have enabled a degree of trust on today’s internet that allows us to use our passwords without having to think about whether someone will be able to watch our connections and steal them.

Read the full story on The Defiant

Defiant Video

FTX Hacker is on the move

FTX Fallout’s Ugliest Turn Yet

JPMorgan’s First DeFi Trade: Behind The Scenes

🦄 Recap: DeFi Week of Nov. 13

Edward Robinson — Sun, 20 Nov 2022 13:30:57 GMT

Hello Defiers! Happy weekend!

Believe it or not, this was a week with bullish news for DeFi. No, that’s not spin… We have the stories to prove it! While there’s no doubt the digital assets market is enduring a crucible in the wake of the failure of FTX there was a bevy of developments demonstrating the staying power of blockchain technology and the promi…

📬 Inbox Dump #77

Laura — Sat, 19 Nov 2022 17:45:39 GMT

Hello Defiers! Welcome to Inbox Dump where we include the updates and announcements that flood our DMs each week and didn’t make it to The Defiant’s content platforms. Sometimes announcements here didn’t meet the bar to become a news story, sometimes they may have slipped through the cracks, or they came late and we haven’t had a chance to cover.

At The …

⍺ DeFi Alpha: Claim a Dawn NFT on the SEI Testnet for a Potential Airdrop

yyctrader — Sat, 19 Nov 2022 12:15:52 GMT

Yields: Up to 18% APY on Stablecoins, 10-55% APY on ETH and BTC

DeFi Alpha is a weekly newsletter published for our premium subscribers every Friday, contributed by Defiant Advisor and DeFi investor at 4RC, DeFi Dad, and our Degen in Chief yyctrader. It aims to educate traders, investors, and newcomers about investment opportunities in decentralized finance, as well as provide primers and guides about its emerging platforms.

Motivation

Two years ago, DeFi investors could easily name every yield farming opportunity without much effort. It was a simpler time, when only a handful of teams had launched with any liquidity to trade, lend, borrow, provide liquidity, or even demonstrate new primitives such as no-loss savings by PoolTogether.

But times have changed! Before the current bear market took hold, DeFi liquidity had grown to hundreds of billions of dollars across Ethereum with new burgeoning DeFi economies taking shape on EVM-compatible chains such as Polygon and Avalanche and non-EVM chains such as Cosmos and Solana. Any given day, a new DeFi or NFT project is launched.

So, after writing and creating countless DeFi guides and tutorials since 2019, we at The Defiant agreed it’s time we publish a more detailed weekly guide on all you need to know to keep up with new opportunities.

This is DeFi Alpha by The Defiant.

Any information covered in DeFi Alpha should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions. Any mention of a token or protocol should not be considered a recommendation or endorsement.

🙌 Together with:

DeFi Saver is the most comprehensive dashboard for Liquity protocol with unique automated liquidation protection features. Now, with full support for the newly launched Chicken Bonds bonding protocol as well.

📈 Yield Alpha

Each week we will provide options to earn yield on ETH, WBTC, stablecoins, and other major tokens.

ETH - 55% APY with pETH/ETH Curve LP staked in Convex via Concentrator
- This yield is accrued in aCRV + trading fees compounded in the LP.
- To participate, one must Deposit into the pETH/ETH Curve LP here (not stake).
- Then, one must stake/deposit the Curve LP under the ETH-pETH vault under aCRV Vaults on Concentrator.
BTC - 9.81% projected vAPR with the Curve pBTC+sbtcCrv LP staked in Convex
- This yield is accrued in CRV, CVX, and trading fees.
- To participate, one must first deposit pBTC, renBTC, sBTC and/or WBTC into this Curve factory pool and then stake the LP here in Convex.
AVAX - 6.15% APR with AVAX in Vesper Grow Pools
- This yield is issued in 4.39% AVAX + 1.76% VSP.
- To participate, one must deposit into the AVAX pool here in Vesper
- There is a 0.6% fee on withdrawal from Vesper Grow pools and a 15% platform fee on yield generated by the deposited assets.
SOL - 8.6% APR staking SOL with stSOL by Lido
- This is backed only by Solana staking yield.
- To participate, one must deposit stSOL in the Tulip lending tab.
- To obtain stSOL, one can trade on a Solana DEX or mint it here on Lido.
MATIC - 14% APY with 50/50 MaticX-WMATIC LP on MeshSwap
- The yield is backed by validator rewards using the MaticX liquid staking derivative + MeshSwap trading fees + MESH rewards + SD rewards.
- To participate on Polygon, I use the Stader MaticX dApp to mint MaticX.
- Then, I deposit into the MaticX-WMATIC pool on MeshSwap and stake the LP.
ATOM - 20.9% APR staking ATOM with Keplr Wallet on Cosmos Hub
- The yield earned is issued in ATOM.
- To participate, one must set up a Keplr Wallet, go to the Cosmos Hub validators on Keplr Dashboard, rank by APR, choose a validator, and click Delegate.
- Then, I specify how many ATOMs and follow the prompts to Delegate.
FTM - 4.7% APY staking sFTMx liquid staking derivative by Stader
- The yield is issued in FTM rewards, as sFTMX is earning FTM via validator rewards to support Fantom’s PoS network.
- To participate, one must deposit FTM to receive sFTMX here on Stader.
Stablecoins (USD) - 18.32% APR with the LUSD/MAI LP staked in Velodrome on Optimism
- This yield is accrued in VELO.
- To participate, one must deposit and stake in this LUSD+MAI LP.

Sponsored Post

Leveraged yield farming - Why most users fail

It comes as no surprise that the majority of the highest yields in DeFi come from utilizing leverage or debt. What is surprising however is that many of these high yields have displayed an astonishingly low rate of alpha decay over the past year. Where normally high yields decline over time as more participants enter the position, leveraged yield farming strategies oftentimes maintain their rate of return. Why is that?

Operating a leveraged yield farming strategy requires that users know:

Which borrowing/lending protocol to use
Which asset to deposit as collateral
Which asset to borrow
How much to borrow
Which risk parameters to choose for your loan
Where to deploy your borrowed funds

Furthermore, leveraged strategies require active monitoring and management. A healthy level of collateral must always be maintained in order to avoid liquidation. With so many barriers to entry it’s no wonder that most users don’t utilize leveraged yield farming. That is, until now.

Arkitect is enabling any user to create their own leveraged yield farming strategy all within a few clicks. Each strategy is autonomously maintained and users can deposit funds into pre-built strategies or create their own with custom parameters.

The team behind Arkitect has been building in stealth and is giving DeFi Alpha readers the first ever glimpse into the protocol. Using this exclusive Discord link, DeFi Alpha readers can whitelist their address to be first to get access to the Arkitect protocol.

🎭NFT Roundup

SuperRare Auctions NFT Subscription Passes For More Than $4M
Magic Eden Launches ‘Fair Mint’ Mechanism
Weekly volume dips below $100M for the first time this year.

🔗Read the full article at thedefiant.io🔗

🎙️ Onyx's Tyrone Lobban Takes Us Behind the Scenes of JP Morgan's First DeFi Trade

yyctrader — Fri, 18 Nov 2022 20:02:21 GMT

This week on The Defiant Podcast we speak with Tyrone Lobban, the head of blockchain at JPMorgan’s Onyx, a business unit focused on digital assets.

In the craziness of the past couple weeks, it’s easy to overlook or forget good news and positive developments. JP Morgan recently made history by becoming the first major bank to execute a live DeFi trade. The trade involved tokenized forex and government bonds and it all happened on the Polygon blockchain.

In our conversation, we dive into the details of the trade and discuss the implications of major banks like JP Morgan and the rest of TradFi using DeFi, and start by getting a better understanding of Onyx.

JP Morgan’s first DeFi transaction took place on 2 November 2022 and was facilitated by Project Guardian, a pilot initiative of the Monetary Authority of Singapore. The trade had a lot of moving pieces and was rather complex. Tyrone takes us behind the scenes and walks us through the steps taken to ensure adherence to KYC/AML standards.

Due to regulatory and privacy concerns, JPMorgan is currently running its DeFi experiments on a permissioned sidechain. We discuss the likelihood of a shift from private infrastructure to a public blockchain.

🎙Listen to the interview in this week’s podcast episode here:

📺 Watch the video here:

Subscribe now

🙏 Thanking our podcast sponsors:

This episode is brought to you by Circle, the sole issuer of USDC, and a leader in crypto that’s held to a higher standard. Learn more at https://www.circle.com/en/usdc
Aave Grants is a community-led grants program, focused on growing a thriving ecosystem of contributors within Aave by funding ideas, projects and events that benefit the protocol or surrounding ecosystem. Head to aavegrants.org to learn more and apply for a grant.
Now for the first time, you can keep your crypto and NFTs safe with tech the “big guys” have used for years, thanks to ZenGo. Download the ZenGo app from the App Store or Google Play and use code defiant to get $20 back on your first purchase of $200 or more. Terms and conditions apply. See site for details.
Built by the team behind Avalanche, Core is an all-in-one command center for Web3 supporting Avalanche, Ethereum, and Bitcoin, a rich ecosystem of dApps, Bitcoin & Ethereum bridges, NFTs, Subnets, and more. Visit core.app to download now.

What follows is a summary of the podcast episode.

So you are Head of Blockchain at JP Morgan's Onyx business unit. What exactly does Onyx do?

Onyx is JP Morgan's blockchain-focused business unit. What that really means is we have a group of people, somewhere around 250 people, that are exclusively focused on building new infrastructure and new applications, new solutions, that leverage blockchain technology.

The JP Morgan blockchain program started in late 2015. Since then, we've been trying to figure out where blockchain makes sense for a large, regulated financial institution and how we can use this technology not just for ourselves but also for our clients.

The things that we've really been focused on are how do we create better-operating models, better processes, but I think most interestingly, new products. New revenue streams for our clients and for our own internal businesses.

Since we actually began the blockchain program at JP Morgan, we identified three key areas that basically had enough confidence to build this business around.

The three key areas are:

Being able to exchange information related to payments in a better way and deliver new insights off the back of that, once you have a shared ledger of payments information.
Transfer of value. Specifically, money.
The idea of tokenization of traditional assets. Bringing them into blockchain, and creating new products.

I think that all of this is wrapped up in a way that is obviously very focused on blockchain. And especially in the last couple of years, we've been thinking a lot about Web3. How do we create better solutions around identity? How do we interact with public blockchains? What are the DeFi opportunities? This is a very important way for us to look at these three different opportunities that we're really focusing on.

Maybe earlier on, JP Morgan was using more of a private blockchain solution and that's been the direction that most institutions and traditional financial services take when looking at blockchain. It's really notable that you have shifted towards a more public blockchain approach. When did this happen? Was this just a deliberate decision?

🌪 Solana Endures ‘Crucible’ as FTX Connection Deletes 70% of TVL

Edward Robinson — Fri, 18 Nov 2022 13:31:02 GMT

Hello Defiers! Here’s what we’re covering today:

News

FTX Crisis

Podcast

Podcast: JPMorgan’s First DeFi Trade: Behind The Scenes

Defiant Video

Does SBF Have A Get Out Of Jail Free Card?

Trending in The Defiant

Elsewhere

Get the 5-minute newsletter keeping 80K+ crypto innovators in the loop.

Subscribe now

A word from our wonderful sponsors, who make this newsletter possible:

Metis Andromeda is a permissionless & secure Ethereum Smart Layer 2 creating the decentralized finance foundations for the web3 economy. Bridge Free & explore our ecosystem during our first anniversary!

FTX Crisis: Solana

🌪 Solana Endures ‘Crucible’ as FTX Connection Deletes 70% of TVL

Fall of SBF’s Empire Rocks Layer 1 As It Was Rebounding From Tough Year

By Tarang Khaitan

HIT HARDER There was a time when Solana’s relationship with Sam Bankman-Fried was a good thing. Not anymore. Perhaps no DeFi player has been hit harder by the FTX disaster than Solana, the Layer 1 blockchain that, until recently, had attracted users and buzz with its high-speed, low cost performance.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

FTX Crisis: Alameda

💰 FTX Leadership Borrowed Over $1B From Alameda

Incoming CEO John Ray Cites ‘Complete Absence of Trustworthy Financial Information’

By Aleksandar Gilbert

LOANS Former FTX CEO Sam Bankman-Fried and other executives at the now-bankrupt crypto exchange were loaned more than $1B by sister company Alameda Research, according to a court document released Thursday. Another $2.3B was loaned to Paper Bird Inc. Alameda, Paper Bird and FTX are largely or wholly owned by Bankman-Fried and are among the 100-plus companies in his empire to have filed for Chapter 11 bankruptcy in Delaware last week.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Sponsored Post

Liquity's Chicken Bonds enhanced yield with DeFi Saver

DeFi Saver is an all-in-one dashboard for creating, managing and tracking positions with automatic liquidation protection and leverage management options for only the most trusted DeFi protocols, Liquity among them.

Liquity, interest-free borrowing protocol built on Ethereum, recently introduced a novel product offering The Defiant wrote about - Chicken Bonds. Chicken Bonds are a new, innovative form of bonding mechanism in DeFi.

Chicken Bonds are an innovative bonding mechanism offering several key benefits to those willing to bond their Liquity native stablecoin LUSD. In exchange for depositing and bonding LUSD, users accrue boosted LUSD (bLUSD), derivative token.

Primary benefit for bonding LUSD instead of supplying to Liquity’s Stability Pool is the amplified yield users get from Liquity’s internal liquidation mechanism as well as from other liquidity sources like the pools in Curve. Alongside improved liquidity for the LUSD stablecoin, the most important benefit to users is bonding with no time commitment or maturity. Users can withdraw principal LUSD fully and chicken out at any time, renouncing the accrued interest. The other option being to chicken in and claim accrued bLUSD, forgoing the initial LUSD deposit.

As the most comprehensive decentralized frontend for Liquity, DeFi Saver continues its devoted support with dedicated Chicken Bonds dashboard and advanced protocol actions and strategies. Alongside basic actions, DeFi Saver offers users options to Claim and Sell bLUSD or Rebond (Claim, Sell and create new bond). DeFi Saver team is even preparing automation options for the new Liquity innovation.

Get the most out of your Liquity experience with DeFi Saver.

FTX Crisis: DeFi Impact

🏝 DeFi Users Jump But Boom is a Mirage: Chainalysis

Data Shows Activity Spike Came from Existing Users and MEV Bot

By Aleksandar Gilbert

VOLUMES Ever since FTX halted withdrawals and filed for bankruptcy last week, several DeFi protocols have enjoyed surging transaction volumes and fee revenue. However, FTX’s collapse has not spurred a rush to self-custody, according to research from blockchain analytics firm Chainalysis.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

FTX Crisis: SBF

🔩 SBF Rues FTX Bankruptcy Filing As Screws Tighten: Report

Says Altruist Persona Was ‘Just PR’ in Wide-ranging Interview with Vox

By Aleksandar Gilbert

OVERTURES Disgraced FTX co-founder and former CEO Sam Bankman-Fried (SBF) said his overtures to regulators and his cultivated image as a do-gooder were “just PR” in an interview with Vox published Wednesday.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Crypto Audits

📝 Audit Shows Terra Groups Spent $3.4B to Defend Dollar Peg in UST

Terraform Labs Commissioned Study to Quantify Support for Stablecoin During May Crisis

By Owen Fernau

PEG In a bid to quell speculation about how Terra defended its stablecoin UST during its meltdown last May, two organizations connected with the failed blockchain ecosystem spent a whopping $3.4B in May to support its dollar peg, according to an audit released Wednesday.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Shoutout

Join the startups, investors, corporates and developers that are changing the world, and dive into a variety of topics such as institutional crypto adoption, crypto investing for institutions, DeFi, crypto derivatives, stablecoins, tokenization, issuance of digital assets, regulation, web3, custody & wallets, metaverse and gaming.

Lock in your ticket with the code THEDEFIANT25 and get 25% off!

Defiant Video

📺 Does SBF Have A Get Out Of Jail Free Card?

Podcast Video

📺🎙 Podcast: JPMorgan’s First DeFi Trade: Behind The Scenes

Trending in The Defiant

MakerDAO Releases Speedy DAI Transfers and Tightens Controls on Vaults MakerDAO, the No. 1 DeFi platform with more than $8B in total value locked, now allows users to transfer its DAI stablecoin between Ethereum’s mainnet and Layer 2 networks, the protocol announced on Wednesday.
Businesses Can Now Accept USDC With Apple Pay Circle, the issuer of the dollar-pegged USDC stablecoin, has unveiled an integration with Apple Pay, the payment service with over half a billion users around the globe. Merchants will be able to accept USDC as payment using this new feature.
Crypto Users Jump to DeFi Platforms in Wake of FTX’s CeFi Crash Don’t look now, but the FTX collapse has spurred a wave of interest in decentralized finance platforms. DeFi protocols are experiencing double digit increases in the number of users over the past week, according to data from Nansen, the blockchain analytics platform.

Elsewhere

🔗 Genesis Sought $1B Bailout From Investors Before Halting Withdrawals: Report: Decrypt

Crypto lender Genesis tried to raise a $1 billion loan from investors to avoid a “liquidity crunch” driven by the fallout from crypto exchange FTX’s collapse, according to a Wall Street Journal report.

🔗 Binance to Relaunch Bid for Bankrupt Crypto Lender Voyager: Source: CoinDesk

Binance.US, the American arm of the world’s largest cryptocurrency exchange, is preparing to bid for bankrupt lending platform Voyager Digital, according to a person familiar with the plans.

@Gateway_xyz! \n\nCreating an on-chain credential will help build connections between grantees and allow other communities to engage with grant recipients 👻\n\nmygateway.xyz/credential/5a4… ","username":"AaveGrants","name":"AaveGrants.lens","profile_image_url":"","date":"Thu Nov 17 17:22:34 +0000 2022","photos":[{"img_url":"https://pbs.substack.com/media/FhyDi12X0AI2A4h.jpg","link_url":"https://t.co/0xpKPMHRbK","alt_text":null}],"quoted_tweet":{"full_text":"We are excited to announce that Gateway is issuing credentials to all @AaveAave grant recipients with @AaveGrants!\n\nIf you are a signer on a multisig or received a grant directly, go claim your NFT today and get access to @LensProtocol via AAVE grants Guild! https://t.co/cTh0gYwcHE","username":"Gateway_xyz","name":"Gateway"},"reply_count":0,"retweet_count":15,"like_count":45,"impression_count":0,"expanded_url":{},"video_url":null,"belowTheFold":true}" data-component-name="Twitter2ToDOM">

🧑‍💻 ✍️ Stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, and yyctrader, and edited by Edward Robinson, yyctrader and Camila Russo. Videos were produced by Alp Gasimov. Podcast was led by Camila, edited by Alp.

Free subscribers to the newsletter get:

Daily news briefings
Sunday Weekly recap
General chat on The Defiant’s Discord server

👑 Prime defiers get:

Full transcript of exclusive podcast interviews
DeFi Alpha weekly newsletter on how to put your money to work in DeFi by yyctrader and DeFi Dad
Weekly live DeFi Alpha call with yyctrader
Inbox Dump edition of The Defiant newsletter every Saturday with all the PR that didn’t make it to our content channels
Exclusive community calls with the team
Subscriber-only chats on The Defiant Discord server
Full access to The Defiant’s content archive

Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button below ($15/mo, $150/yr).

You can start a prime membership for free right now with this link. You’ll get full access for 7 days. It’s 100% risk-free.

7-day Free Trial

🏎 MakerDAO Releases Speedy DAI Transfers and Tightens Controls on Vaults

Edward Robinson — Thu, 17 Nov 2022 13:30:50 GMT

Hello Defiers! Here’s what we’re covering today:

News

NFT Roundup

SuperRare Auctions NFT Subscription Passes For More Than $4M

Podcast

Defiant Video

DeFi Wins From FTX Collapse (kind of)

DeFi Explainers

What is Polygon zkEVM?

Trending in The Defiant

Elsewhere

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DeFi Lending

🏎 MakerDAO Releases Speedy DAI Transfers and Tightens Controls on Vaults

DeFi Lender Unaffected by FTX Yet Takes Steps to Fend Off Potential Contagion

By Samuel Haig

TRANSFER MakerDAO, the No. 1 DeFi platform with more than $8B in total value locked, now allows users to transfer its DAI stablecoin between Ethereum’s mainnet and Layer 2 networks, the protocol announced on Wednesday.

TWO CHAINS Dubbed Maker Teleport, the service supports leading Layer 2s Arbitrum and Optimism, enabling near-instant transfers between the two chains and fast withdrawals back to the Ethereum mainnet.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

FTX Crisis: Contagion

🛑 Genesis Halts Withdrawals At Lending Business

Users Of Gemini Earn Unable to Withdraw Assets as FTX Contagion Spreads

By Aleksandar Gilbert

TURMOIL Genesis Global Capital, the lending arm of leading digital asset brokerage Genesis Trading, announced Wednesday that it has halted withdrawals and new loans due to “unprecedented market turmoil” created by FTX’s collapse.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Sponsored Post

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Crypto Regulation

🏛 Congressional Hearing on FTX to Cast Spotlight on Crypto’s Annus Horribilis

House Financial Services Committee to Call SBF to Testify on Exchange’s Failure and Practices

By Samuel Haig

HEARING In a year when regulators and lawmakers were bearing down on cryptocurrencies, the FTX disaster was the last thing the industry needed. And now, the U.S. House Financial Services Committee plans to hold a hearing in December on the failure of the No. 2 crypto exchange.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

NFT Roundup

🧑🏻‍⚖️ SuperRare Auctions NFT Subscription Passes For More Than $4M

Magic Eden Raises ‘Fair Mint’ Mechanism in Busy Week for NFTs

By yyctrader

COLLECTORS SuperRare, an Ethereum-based NFT marketplace that generated over $250M in sales, is experimenting with a new way for serious collectors to acquire pieces from leading artists in the NFT space.

PRICE On Nov. 16, a collection of 250 Genesis RarePasses was sold through a Dutch Auction that started at 138 ETH ($166,000) after RarePass #1 was purchased at that price.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Defiant Video

📺 DeFi Wins From FTX Collapse (kind of)

Podcast Video

📺🎙 Podcast: Robinhood is coming after MetaMask with Polygon Web3 Wallets

DeFi Explainers

🤔 What is Polygon zkEVM?

A Step-by-Step Guide to One of Ethereum’s Key Scaling Solutions

By Rahul Nambiampurath

SCALABILITY Polygon has become a Swiss Army-knife for fixing Ethereum’s scalability problems. One of the latest methods Polygon uses to make Ethereum’s ecosystem faster and more efficient is zkEVM, the zero-knowledge Ethereum Virtual Machine.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Trending in The Defiant

Crypto Users Jump to DeFi Platforms in Wake of FTX’s CeFi Crash Don’t look now, but the FTX collapse has spurred a wave of interest in decentralized finance platforms. DeFi protocols are experiencing double digit increases in the number of users over the past week, according to data from Nansen, the blockchain analytics platform.
CZ Strives to Show Binance is Different From FTX Just like FTX, Binance maintains billions of dollars worth of its own tokens on its balance sheet. So is the globe’s No. 1 cryptocurrency exchange vulnerable to the same type of bank run that poleaxed Sam Bankman-Fried’s exchange last week?
Unsecured DeFi Lenders Look Shaky in Face of FTX Contagion The fallout from FTX’s collapse is just starting and within decentralized finance, platforms enabling unsecured loans are the most exposed relative to collateralized counterparts with millions in loans on the line, while total value locked slides.

Elsewhere

🔗 House Committee Calls on SBF, Binance to Testify on FTX Collapse: Decrypt

The House Financial Services Committee will next month hear from Sam Bankman-Fried on the collapse of his crypto empire, lawmakers announced today.

🔗 FTX’s former CEO claims crypto exchange is still solvent: The Guardian

Sam Bankman-Fried, the former chief executive of the collapsed crypto exchange FTX, has claimed the company he founded is still solvent, even as its new boss, who oversaw the final days of Enron, begins the formal bankruptcy process.

makerburn.com/#/rundown ","username":"MakerDAO","name":"Maker","profile_image_url":"","date":"Wed Nov 16 15:28:52 +0000 2022","photos":[{"img_url":"https://pbs.substack.com/media/FhsgaKBXwAACeuQ.jpg","link_url":"https://t.co/n8ZbFutnHA","alt_text":null}],"quoted_tweet":{},"reply_count":0,"retweet_count":7,"like_count":25,"impression_count":0,"expanded_url":{},"video_url":null,"belowTheFold":true}" data-component-name="Twitter2ToDOM">

🧑‍💻 ✍️ Stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, and yyctrader, and edited by Edward Robinson, yyctrader and Camila Russo. Videos were produced by Alp Gasimov. Podcast was led by Camila, edited by Alp.

Free subscribers to the newsletter get:

Daily news briefings
Sunday Weekly recap
General chat on The Defiant’s Discord server

👑 Prime defiers get:

Full transcript of exclusive podcast interviews
DeFi Alpha weekly newsletter on how to put your money to work in DeFi by yyctrader and DeFi Dad
Weekly live DeFi Alpha call with yyctrader
Inbox Dump edition of The Defiant newsletter every Saturday with all the PR that didn’t make it to our content channels
Exclusive community calls with the team
Subscriber-only chats on The Defiant Discord server
Full access to The Defiant’s content archive

Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button below ($15/mo, $150/yr).

You can start a prime membership for free right now with this link. You’ll get full access for 7 days. It’s 100% risk-free.

7-day Free Trial

🔦 CZ Strives to Show Binance is Different From FTX

Edward Robinson — Wed, 16 Nov 2022 14:03:43 GMT

Hello Defiers! Here’s what we’re covering today:

News

Special Report

Crypto Users Jump to DeFi Platforms in Wake of FTX’s CeFi Crash

Opinion

Let’s Revamp Tokenomics to Make DeFi More Useful and Valuable

Podcast

Video

FTX Collapse: Mapping The Contagion

DeFi Explainers

What is a DEX Aggregator?

Trending in The Defiant

Elsewhere

⍺ DeFi Alpha Newsletter

DeFi Alpha is a weekly newsletter by The Defiant and DeFi Dad, packed with tutorials and tips on how to earn yield in DeFi. DeFi Alpha is exclusive to paid subscribers.

This Week:

⍺ DeFi Alpha: Using the Shardeum Testnet for a Potential Airdrop

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Binance Flex

🔦 CZ Strives to Show Binance is Different From FTX

Binance Begins Disclosing Wallet Assets in Transparency Push

By Samuel Haig

VULNERABLE Just like FTX, Binance maintains billions of dollars worth of its own tokens on its balance sheet. So is the globe’s No. 1 cryptocurrency exchange vulnerable to the same type of bank run that poleaxed Sam Bankman-Fried’s exchange last week?

QUESTION That’s a pertinent question as Binance, which does $14B in daily trading volume, leans into playing the role of savior at a perilous moment for digital assets.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

DeFi Migration

📈 Crypto Users Jump to DeFi Platforms in Wake of FTX’s CeFi Crash

Nansen Data Show Double-Digit Jumps in Users at MakerDAO, Aave, and Other Protocols

By Owen Fernau

DOUBLE-DIGIT JUMPS Don’t look now, but the FTX collapse has spurred a wave of interest in decentralized finance platforms. DeFi protocols are experiencing double digit increases in the number of users over the past week, according to data from Nansen, the blockchain analytics platform.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Sponsored Post

Liquity's Chicken Bonds enhanced yield with DeFi Saver

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TradFi + DeFi

🧪 As Skeptics Dance on Crypto’s Grave the Fed and Big Banks Launch Digital Ledger Project

Citigroup, Wells Fargo, and MasterCard Test DLT to Connect Deposits

By yyctrader

TEST Even as the crypto industry grapples with a year-long bear market and the collapse of FTX, global financial institutions just can’t say no to blockchain-related technology. On Tuesday, a lineup of top-shelf firms — Citigroup, HSBC, Wells Fargo, and MasterCard, among others — joined forces with the Federal Reserve Bank of New York to explore using distributed ledgers to connect deposits.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Layer 2s

💰 Layer 2s Defy Market Angst as Matter Labs Raises $200M

Zero-Knowledge Powered Rollup Garnering Momentum in Race to Scale Ethereum

By Samuel Haig

SERIES C In a sign of momentum for Layer 2s, Matter Labs, the team behind the nascent zkSync 2.0 network, raised $200M in a Series C round led by Blockchain Capital and Dragonfly, the venture announced on Nov. 16.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Crypto Payments

🤳🏽 Businesses Can Now Accept USDC With Apple Pay

Circle’s Move Comes as Stablecoin Has Been Losing Market Share

By Tarang Khaitan

FEATURE Circle, the issuer of the dollar-pegged USDC stablecoin, has unveiled an integration with Apple Pay, the payment service with over half a billion users around the globe. Merchants will be able to accept USDC as payment using this new feature.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Opinion

💪🏼 Let’s Revamp Tokenomics to Make DeFi More Useful and Valuable

It’s Imperative to Provide Real Value to Tokenholders, Not Just Governance Tools

Guest writer Mike Sall argues that it’s time for tokenomics to get real and prove it’s utility…

VALUE In the midst of a harsh bear market, crypto investors are asking tough questions: “What actually drives value to this token, and why would I want to own this?”

COMMUNITY I see it first-hand when people ask the same things about Goldfinch, the protocol I helped launch in 2021. The market downturn is forcing the crypto community to become much more discerning.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Defiant Video

📺 FTX Collapse: Mapping The Contagion

Podcast Video

📺🎙 Podcast: Robinhood is coming after MetaMask with Polygon Web3 Wallets

Shoutout

BNB Chain is coming to NYC on Dec.3 and is calling for web3 start-ups to join and pitch their innovative ideas to our investors. Please fill out the short application!

DeFi Explainers

🤔 What is a DEX Aggregator?

A Step-by-Step Guide to This Important Swaps Tool

By Rahul Nambiampurath

SWAPS When Uniswap popularized decentralized exchanges on the Ethereum network, it was a ground-breaking development. DEXs permissionlessly enable users to become liquidity providers for token pair swaps.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Trending in The Defiant

Unsecured DeFi Lenders Look Shaky in Face of FTX Contagion The fallout from FTX’s collapse is just starting and within decentralized finance, platforms enabling unsecured loans are the most exposed relative to collateralized counterparts with millions in loans on the line, while total value locked slides.
Markets Rally After Binance Proposes ‘Industry Recovery Fund’ Crypto markets rallied early Monday after Binance CEO Changpeng Zhao (CZ) proposed to create an “industry recovery fund” that would invest in companies struggling to stay afloat in the wake of FTX’s collapse.
Solana Discloses Losses From FTX Collapse The Solana Foundation and Solana Labs have disclosed their asset exposure and transaction histories linked to bankrupt crypto exchange FTX and its sister trading firm Alameda Research.

Elsewhere

🔗 The Path Forward with Ryan & David: Bankless

This is the craziest moment we’ve experienced in crypto. So many things to unpack. But the biggest question remains… where do we go from here?

🔗 Proof of Reserves: Could it Have Prevented the FTX Meltdown?: CoinDesk

Crypto exchanges can go bust when they do not have the funds to fulfill customer withdrawals.

@metaplex highlights the cost savings from Account Compression, radically reducing the cost to mint NFTs on Solana. \n","username":"solana","name":"Solana","profile_image_url":"","date":"Tue Nov 15 18:09:00 +0000 2022","photos":[],"quoted_tweet":{"full_text":"@metaplex is paving the way for next-gen NFT projects with Compression for NFTs, which reduces minting costs by 99.996% https://t.co/Y5DDlPMrOG","username":"xKarsa_","name":"Karsa ONE 🎒"},"reply_count":0,"retweet_count":6,"like_count":30,"impression_count":0,"expanded_url":{},"video_url":null,"belowTheFold":true}" data-component-name="Twitter2ToDOM">

🧑‍💻 ✍️ Stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, and yyctrader, and edited by Edward Robinson, yyctrader and Camila Russo. Videos were produced by Alp Gasimov. Podcast was led by Camila, edited by Alp.

Free subscribers to the newsletter get:

Daily news briefings
Sunday Weekly recap
General chat on The Defiant’s Discord server

👑 Prime defiers get:

Full transcript of exclusive podcast interviews
DeFi Alpha weekly newsletter on how to put your money to work in DeFi by yyctrader and DeFi Dad
Weekly live DeFi Alpha call with yyctrader
Inbox Dump edition of The Defiant newsletter every Saturday with all the PR that didn’t make it to our content channels
Exclusive community calls with the team
Subscriber-only chats on The Defiant Discord server
Full access to The Defiant’s content archive

Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button below ($15/mo, $150/yr).

You can start a prime membership for free right now with this link. You’ll get full access for 7 days. It’s 100% risk-free.

7-day Free Trial

😬 Unsecured DeFi Lenders Look Shaky in Face of FTX Contagion

Edward Robinson — Tue, 15 Nov 2022 13:30:54 GMT

Hello Defiers! Here’s what we’re covering today:

News

FTX Crisis: Solana

Markets

Markets Rally After Binance Proposes ‘Industry Recovery Fund’

Opinion

A Recipe for Making DeFi Lending Sustainable and Stable

Podcast

Defiant Video

Trending in The Defiant

Elsewhere

Get the 5-minute newsletter keeping 78K+ crypto innovators in the loop.

Subscribe now

A word from our wonderful sponsors, who make this newsletter possible:

DeFi Lending

😬 Unsecured DeFi Lenders Look Shaky in Face of FTX Contagion

Alameda Owes DeFi Lenders $13M as TVL Drops for Major Players

By Owen Fernau

EXPOSED The fallout from FTX’s collapse is just starting and within decentralized finance, platforms enabling unsecured loans are the most exposed relative to collateralized counterparts with millions in loans on the line, while total value locked slides.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Market Action

📈 Markets Rally After Binance Proposes ‘Industry Recovery Fund’

DeFi Derivatives Surge as Traders Flee Exchanges

By Aleksandar Gilbert

RALLY Crypto markets rallied early Monday after Binance CEO Changpeng Zhao (CZ) proposed to create an “industry recovery fund” that would invest in companies struggling to stay afloat in the wake of FTX’s collapse. Major cryptocurrencies spiked after Zhao’s announcement just after 1:30 a.m. New York time, despite few details about the proposed fund.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Sponsored Post

Liquity's Chicken Bonds enhanced yield with DeFi Saver

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FTX Crisis: Solana

📉 Solana Discloses Losses From FTX Collapse

Serum DEX Heavily Impacted

By Tarang Khaitan

BANKRUPT The Solana Foundation and Solana Labs have disclosed their asset exposure and transaction histories linked to bankrupt crypto exchange FTX and its sister trading firm Alameda Research.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Crypto Exchanges

😳 Disclosing Reserves May Backfire for Centralized Exchanges

Crypto.com’s Vow to Audit Reserves Spurs Scrutiny From Blockchain Sleuths

By Samuel Haig

SHIFT In response to FTX’s bankruptcy, a number of centralized crypto exchanges, including Binance, are racing to publish data on their reserves and ease the worries of investors. Yet the shift has already produced a cautionary tale that shows publishing reserve data may reveal problematic practices.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

FTX: Investigations

🏛 FTX Confirms Justice, SEC Probes in Bankruptcy Filing

FTX Appoints Independent Directors to Ensure ‘Proper Governance’

By Edward Robinson

PROBES In the first significant filing of its bankruptcy, FTX confirmed that the U.S. Department of Justice and other federal and state agencies are probing the exchange in connection with its failure last week.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

FTX Crisis: FTT Tokens

👀 FTX Deployer Transfers $400M of FTT Tokens

Regulator Denies Instructing Exchange to Process Bahamian Withdrawals

By Aleksandar Gilbert

TRANSFER Bankrupt crypto exchange FTX transferred nearly $400M worth of newly created FTT tokens to a yet-to-be-identified wallet Saturday night, sending the price of the token crashing to new lows.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

FTX Crisis: Solana

💥 FTX-Backed Bitcoin and Ether Tokens Depeg On Solana

soBTC Is Trading at a 50% Discount

By Aleksandar Gilbert

PEG Wrapped versions of Bitcoin and Ether on the Solana blockchain have lost their peg to the underlying assets in the wake of FTX’s bankruptcy filing. Bitcoin on Solana, or soBTC, was trading at $8,000, less than half the price of native Bitcoin. At one point, it fell as low as $4,000 per token.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Exploits

🦹🏻‍♂️ FTX Hacked for at Least $650M in Mega-Heist Friday Night

Hackers drained hundreds of millions of dollars from insolvent crypto exchange FTX Friday night

By Aleksandar Gilbert

HEISTS Hackers drained hundreds of millions of dollars from insolvent crypto exchange FTX Friday night, just hours after it declared bankruptcy, in one of the largest heists in crypto history.

WALLETS There are five known wallet addresses involved in the exploit. One hacker made off with about $450M in cryptocurrencies, according to crypto sleuth ZachXBT, while about $200M went to another pair of wallets. The total amount drained from the failed exchange is at least $650M, according to estimates from ZachXBT.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Opinion

👨🏻‍🍳 A Recipe for Making DeFi Lending Sustainable and Stable

Market Manipulators Must be Stopped — Here’s How

By Amit Chaudhary

STABILITY The world of decentralized lending has been rightly referred to as the “Wild West” more than once. By removing human oversight, new protocols have been able to offer impressive yields on many of their services, but at the huge cost of lowered stability.

MANIPULATORS Many are waking up to the fact that this is unsustainable and unnecessary, as market manipulators are crushing retail investors on a regular basis. New mechanisms for tapping into legacy credit may restore balance while decentralized and cryptographic proofs can ensure that honest actors run the show.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Shoutout

MIDAS is an internal token of Midas.Investments — a custodial staking platform that offers market-leading yields on an array of cryptocurrencies, including BTC, ETH, and USDC. Unlike other industry players, Midas has been exceptionally successful in weathering the crypto winter, avoiding liquidity issues while its native token reaches new ATH.

After the announcement of the upcoming swap to Ethereum last week, the MIDAS token has hit a new ATH of $43.65. Currently, there are more than $70 million staked in MIDAS tokens on the platform by more than 6,000 users. Stake MIDAS with 22.2% APY.

Defiant Video

📺 FTX Saga Update: Binance Recovery Fund, Crypto.com Reserves, FTX Hack

📺 Weekly Recap: The Fall of FTX - everything we know so far

Podcast Video

📺🎙 Podcast: Robinhood is coming after MetaMask with Polygon Web3 Wallets

Trending in The Defiant

Crypto Lender BlockFi Suspends Withdrawals BlockFi, a centralized crypto lender which pays users a return on deposits of digital assets, has paused withdrawals on its platform.
SBF Surfaces With Apology and Details on FTX’s Condition Breaking his silence during a two-day period when the crypto market erased $131B in value, Sam Bankman-Fried finally offered up a mea culpa for the damage wrought by the murky practices at his exchange FTX, and the hedge fund he controls, Alameda Research.
Investors Bargain Hunt as Inflation Report Spurs Market Rally Well that’s a relief. The crypto market rallied on Thursday after the U.S. government released data that shows inflation cooled in October to its lowest level since January.

Elsewhere

🔗 Solana Ecosystem Facts Related To FTX Bankruptcy: Solana

During the events of the past week, the Solana network has not experienced any notable performance or uptime issues.

🔗 Let’s Actually Commit to Proofs of Reserve This Time, Okay?: CoinDesk

I’m not going to mince words. The fraud-driven collapse of FTX and Alameda Research is, in my estimation, the worst single event in the crypto industry since its inception.

🧑‍💻 ✍️ Stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, and yyctrader, and edited by Edward Robinson, yyctrader and Camila Russo. Videos were produced by Alp Gasimov. Podcast was led by Camila, edited by Alp.

Free subscribers to the newsletter get:

Daily news briefings
Sunday Weekly recap
General chat on The Defiant’s Discord server

👑 Prime defiers get:

Full transcript of exclusive podcast interviews
DeFi Alpha weekly newsletter on how to put your money to work in DeFi by yyctrader and DeFi Dad
Weekly live DeFi Alpha call with yyctrader
Inbox Dump edition of The Defiant newsletter every Saturday with all the PR that didn’t make it to our content channels
Exclusive community calls with the team
Subscriber-only chats on The Defiant Discord server
Full access to The Defiant’s content archive

Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button below ($15/mo, $150/yr).

You can start a prime membership for free right now with this link. You’ll get full access for 7 days. It’s 100% risk-free.

7-day Free Trial

⍺ DeFi Alpha: Using the Shardeum Testnet for a Potential $SHM Airdrop

yyctrader — Mon, 14 Nov 2022 12:32:29 GMT

Yields: Up to 24% APY on Stablecoins, 20-50% APY on ETH and BTC

Motivation

This is DeFi Alpha by The Defiant.

🙌 Together with:

DeFi Saver is the most comprehensive dashboard for Liquity protocol with unique automated liquidation protection features. Now, with full support for the newly launched Chicken Bonds bonding protocol as well.

📈 Yield Alpha

Each week we will provide options to earn yield on ETH, WBTC, stablecoins, and other major tokens.

ETH - 50.9% APY with pETH/ETH Curve LP staked in Convex via Concentrator
- This yield is accrued in aCRV + trading fees compounded in the LP.
- To participate, one must Deposit into the pETH/ETH Curve LP here (not stake).
- Then, one must stake/deposit the Curve LP under the ETH-pETH vault under aCRV Vaults on Concentrator.
BTC - 20.39% projected vAPR with the Curve pBTC+sbtcCrv LP staked in Convex
- This yield is accrued in CRV, CVX, and trading fees.
- To participate, one must first deposit pBTC, renBTC, sBTC and/or WBTC into this Curve factory pool and then stake the LP here in Convex.
AVAX - 7.53% APR with AVAX in Vesper Grow Pools
- This yield is issued in 8.14% AVAX + 1.38% VSP.
- To participate, one must deposit into the AVAX pool here in Vesper
- There is a 0.6% fee on withdrawal from Vesper Grow pools and a 15% platform fee on yield generated by the deposited assets.
SOL - 7.41% APY lending stSOL on Tulip Protocol
- This yield is backed by 0.81% APY paid by borrowers on Tulip + 6.6% APY in staking rewards thanks to Lido.
- To participate, one must deposit stSOL in the Tulip lending tab.
- To obtain stSOL, one can trade on a Solana DEX or mint it here on Lido.
MATIC - 12% APY with 50/50 MaticX-WMATIC LP on MeshSwap
- The yield is backed by validator rewards using the MaticX liquid staking derivative + MeshSwap trading fees + MESH rewards + SD rewards.
- To participate on Polygon, I use the Stader MaticX dApp to mint MaticX.
- Then, I deposit into the MaticX-WMATIC pool on MeshSwap and stake the LP.
ATOM - 20% APR staking ATOM with Keplr Wallet on Cosmos Hub
- The yield earned is issued in ATOM.
- To participate, one must set up a Keplr Wallet, go to the Cosmos Hub validators on Keplr Dashboard, rank by APR, choose a validator, and click Delegate.
- Then, I specify how many ATOMs and follow the prompts to Delegate.
FTM - 4.7% APY staking sFTMx liquid staking derivative by Stader
- The yield is issued in FTM rewards, as sFTMX is earning FTM via validator rewards to support Fantom’s PoS network.
- To participate, one must deposit FTM to receive sFTMX here on Stader.
HBAR - 9.66% APY staking with HBARX liquid staking derivative by Stader
- The yield is issued in HBAR rewards, as HBARX is earning validator rewards.
- To participate, one must deposit HBAR to receive HBARX here on Stader.
Stablecoins (USD) - 23.7% APY with USDC in the allape Notional Spool
- Be aware 16.8% APY of the yield backed by SPOOL rewards.
- To participate, one must deposit into the allape Notional spool here.

Please be aware we intentionally do not report the highest yield rates because often, those yields are less sustainable and in some instances, artificially elevated due to less participation.

📱DeFi Alpha Call

The DeFi Alpha call is held every Monday at 2pm ET in Discord.

In case you missed it, check out the recording of this week’s call.

DeFi, NFT & Web3 Insights - The Defiant

DeFi Alpha Call #26 Recap

Watch now (46 min) | Hello Defiers! This is a recap of our latest DeFi Alpha Call that took place on 11/07/2022 in Discord. Timestamps 02:03 Market Overview 09:08 NFT Roundup 23:28 Starter Tutorial - Lend USDT for 12.4% APY to undercollateralized borrowers on TrueFi 28:44…

4 years ago · 9 likes

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🦄 Recap: DeFi Week of Nov. 6

Edward Robinson — Sun, 13 Nov 2022 23:16:02 GMT

Hello Defiers!

And so ends a week few of us will ever forget. To think that 10 days ago FTX was considered the gold standard of crypto, a steadfast steward of digital assets that normies could trust and a bridge to the mainstream marketplace via Super Bowl commercials and FTX-branded sports arenas, is, well, rather mind blowing.

With his just-woke-up vibe and gift for breaking the complexities of crypto down into sound bites, Sam Bankman-Fried became the industry’s self-styled evangelist. While lesser projects (eg Celsius, Three Arrows, Terra) crashed and burned, SBF and FTX held firm, providing a helping hand to crypto players struggling to weather the bear market and casting its mission in the altruistic light of philanthropy.

If only.

Make no mistake, the damage from FTX’s collapse is serious. It isn’t just the market action — that can be overcome, in time — it’s reputational. That FTX, a supposed stalwart in a sea of volatility, could self-destruct in cloud of apparent self-dealing impugns the credibility of the entire crypto project. And even though SBF apologized — “I fucked up,” he tweeted, as Aleksandar Gilbert reported in his story on the thread — DeFi will be living down this calamity for some time to come.

The Defiant covered the news and the fallout from the FTX crisis on a number of fronts. Sam Haig provided a daily overview, and be sure to read his mid-week take on the crisis where he reported on evidence that FTX had used its ersatz token, FTT, to plug a $4B hole in the trading book at Alameda Research, the exchange’s interlinked hedge fund. Sam clearly laid out what went wrong and what would happen next. If you can only read one story on the fiasco, this is the one.

You should also check out Owen Fernau’s analytical piece on the contagion in DeFi. The black box model at FTX-Alameda is an anthema in decentralized finance and yet platforms such as Solana suffered mightily this week as investors ran for cover. Owen’s story on Solana was the first to explain the ramifications of its investment links with FTX and how they were backfiring. Likewise, Aleks Gilbert wrote a penetrating story on how Solend, the lending project on Solana, was struggling to liquidate a souring loan as a result of the FTX fallout.

Meanwhile, yyctrader and Aleks wrote ultra-fast takes on how the market reacted to the torque from the news, including a piece on Thursday reporting on the surprising fall in consumer prices in October. Was ever a rally more welcome?

Our crack YouTube channel also get in on the action with segments on SBF’s fall from hero to zero, and Camila Russo presenting the news on Binance’s cancelled rescue of FTX. Rounding out the week, Cami spoke with Hamzah Khan, head of DeFi of Polygon, about the blockchain network’s work with Reddit and Robinhood. What a relief just to talk about business!

Enjoy!

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Podcast

🎙 Polygon's Hamzah Khan Wants to Make DeFi More Accessible Than Running Water

This week on The Defiant Podcast we speak with Hamzah Khan, Head of Defi at Polygon. Polygon is one of the biggest players in DeFi with $1.5B in TVL and in the blockchain space in general. Hamzah begins by giving us a brief overview of the Polygon ecosystem.

Despite the bear market, Polygon has been forging high-profile NFT partnerships with companies like Instagram and Reddit. Its network was also used by JP Morgan’s Onyx unit to conduct the first interbank on-chain forex swap and was chosen by Robinhood to debut its Web3 wallet. We dive into the details of these partnerships with Hamzah.

Unlike its sidechain counterpart, Polygon zkEVM will be directly built on Ethereum to serve as a Layer 2. Hamzah goes on to explain the main differences between the two scaling solutions and breaks down the advantages and disadvantages of each.

And finally, Hamzah shares his insights into the DeFi ecosystem on Polygon —where most of the activity happens and the innovations he’s excited about.

Defiant Video

📺 Robinhood is coming after MetaMask with Polygon Web3 Wallets

📺 FTX UPDATE: BINANCE ABANDONS ACQUISITION PLAN

📺 Feds Seize $3.36 Billion Crypto Linked to Silk Road

📺 FTX Insolvency Rumors Are Flying and Binance's CZ is Making it Worse

📺🎙 Podcast: Robinhood is coming after MetaMask with Polygon Web3 Wallets

📺 Weekly Recap Nov.6 : Art Gobblers, Coinbase Savings, Chicken Bonds, JPMorgan in DeFi, Instagram NFTs

FTX Crisis: Fallout From a Cancelled Deal

😬 FTX Crisis Shifts Into New Phase as Contagion Spreads and Investors Scramble for Cover

Turmoil Reins With Bitcoin Plunging to Two-Year Low and Solana Cratering

Samuel Haig rounds up all the action after CZ pulls the plug on Binnance takeover of FTX…

Twelve hours after Binance nixed hopes of a tidy bailout of FTX, turmoil rages in the crypto markets. Digital assets are hitting new lows, a potential savior has emerged in the form of Tron’s Justin Sun, and fears are mounting that more damage is to come as authorities circle the stricken exchange and its sister firm, Alameda Research.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

FTX Crisis: Contagion Sweeps DeFi

🕋 DeFi Supporters Say FTX’s Black Box Model Shows Peril of Centralization

Contagion Wipes Out $10B of DeFi’s Market Cap in 48 Hours

Owen Fernau reports on the effects of the centralized exchange’s failure on the DeFi sector…

Don’t blame DeFi. That’s the vibe running through the decentralized finance community as project teams and investors cope with the damage wrought by the meltdown of FTX, the centralized derivatives exchange.

Even though DeFi stalwarts had nothing to do with the practices that sank Sam Bankman-Fried’s high-profile company they have been impacted by the contagion from its demise.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

FTX Crisis: SBF Apologizes

🤷🏻‍♂️ SBF Surfaces With Apology and Details on FTX’s Condition

Embattled Crypto Head to Close Alameda; confirms $5B in Withdrawals on Sunday

Aleksandar Gilbert reports on the FTX chief’s mea culpa on Twitter…

Breaking his silence during a two-day period when the crypto market erased $131B in value, Sam Bankman-Fried finally offered up a mea culpa for the damage wrought by the murky practices at his exchange FTX, and the hedge fund he controls, Alameda Research.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

FTX Crisis: Alameda’s Tradebook Sparks Fear

😥 Focus Turns to Alameda as Investors Fear Binance Deal Not the Answer for Stricken FTX

Evidence Emerges FTX Used FTT Token for $4B Bailout of Alameda in September

Samuel Haig rounds up all the action as Binance deal wavers and investors concentrate on Alameda’s position…

As cryptocurrency investors and users reckon with the fallout from Binance’s shocking takeover of FTX, one thing is clear: the episode is a disaster for the burgeoning industry.

“These events quickly sent the broader market into a tailspin, heaping more pressure on the prices of crypto,” Bobby Ong, the co-founder of CoinGecko, told The Defiant. “Collapses such as these only serve to erode the confidence of users and the general public towards the industry, and could become a hindrance to growing adoption.”

The questions now are how bad is it, and how long will it last?

👉READ THE FULL STORY IN THE DEFIANT.IO👈

FTX Crisis: An Investment Backfires

😬 Solana Supporters Buck Up Network As FTX Contagion Takes Toll

Alameda and FTX Have Extensive Links with Layer 1 Blockchain Network

Owen Fernau reports on Solana’s exposure to the meltdown…

It’s safe to say that last week few Solana fans were worried about contagion from a centralized derivatives exchange that focused on putting its name on sports arenas and not DeFi.

Yet the rapid unraveling of confidence in FTX, the mammoth crypto derivatives exchange, and its sister firm, Alameda Research, has swept up Solana and whipsawed its tokenholders with unforeseen torque.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Friday

FTX Crisis

FTX Files for Chapter 11 Bankruptcy and SBF Resigns Sam Bankman-Fried has resigned from his position as FTX CEO and the many companies in his crypto empire will file for chapter 11 bankruptcy.
Crypto Lender BlockFi Suspends Withdrawals BlockFi, a centralized crypto lender which pays users a return on deposits of digital assets, has paused withdrawals on its platform.
FTX-Backed Bitcoin and Ether Tokens Depeg On Solana Wrapped versions of Bitcoin and Ether on the Solana blockchain have lost their peg to the underlying assets in the wake of FTX’s bankruptcy filing.
Bahamas Securities Commission to Freeze and Liquidate FTX Assets The Bahamas Securities Commission has stepped in to freeze the assets of FTX Digital Markets (FDM), Sam Bankman-Fried’s failing crypto exchange, in the latest blow to the once-mighty platform.
FTX Withdrawals Resume But Only for Bahamas-Based Accounts Withdrawals are once again trickling out of FTX, but only for certain customers, according to Zane Tackett, FTX’s ex-head of institutional sales.
Desperate To Get Crypto Out of FTX, Some Get Creative With withdrawals from FTX limited to Bahamian customers, some have found a clever way of spiriting their money out of the bankrupt crypto exchange.
SBF Surfaces With Apology and Details on FTX’s Condition Breaking his silence during a two-day period when the crypto market erased $131B in value, Sam Bankman-Fried finally offered up a mea culpa for the damage wrought by the murky practices at his exchange FTX, and the hedge fund he controls, Alameda Research.
Tether Freezes $47M USDT Stake Held by FTX Tether, the issuer behind the No. 1 U.S. dollar-backed stablecoin, USDT, froze almost $47M worth of USDT held by FTX exchange on the Tron blockchain.

News

MetaMask Launches Integrated Bridge Feature MetaMask, the leading web3 wallet provider, has released MetaMask Bridges, a bridge aggregation service. This feature allows users to transfer their assets across multiple blockchains from within the wallet.

Markets

Investors Bargain Hunt as Inflation Report Spurs Market Rally Well that’s a relief. The crypto market rallied on Thursday after the U.S. government released data that shows inflation cooled in October to its lowest level since January.

Thursday

FTX Crisis

Trapped FTX Users May Find Lifeline in Justin Sun While many crypto traders wait with bated breath to learn the fate of their funds trapped on the failing FTX exchange, Justin Sun, the founder of Tron, may be preparing to throw a lifeline to FTX’s stranded customers.
Solend Struggles to Liquidate Souring Loan as On-Chain Liquidity ‘Evaporates’ The apparent collapse of crypto exchange FTX is wreaking havoc on the Solana ecosystem, with another centralized exchange reportedly halting stablecoin deposits to and from Solana and the blockchain’s largest protocol hanging on by its fingernails on Tuesday.
Binance Walks Away From Deal To Acquire FTX Binance, the world’s largest crypto exchange, said it is walking away from its preliminary agreement to buy competitor FTX, an announcement that sent cryptocurrencies into a late afternoon tailspin Wednesday.

News

OpenSea Will Enforce Royalties for Existing NFT Collections OpenSea, the leading NFT marketplace by volume, will continue to enforce creator fees on its platform for existing collections.
Feds Crank Up Heat on Tornado Cash With Link to North Korea’s Nuclear Program The Biden Administration has raised the stakes in the Tornado Cash sanctions case by alleging the crypto mixer was involved in facilitating transactions connected to North Korea’s nuclear weapons program.

DeFi Explainers

What is 88mph? 88mph is an Ethereum-based, decentralized application (dApp) for users who want to borrow and lend at a fixed interest rate.

Wednesday

FTX Crisis

Focus Turns to Alameda as Investors Fear Binance Deal Not the Answer for Stricken FTX As cryptocurrency investors and users reckon with the fallout from Binance’s shocking takeover of FTX, one thing is clear: the episode is a disaster for the burgeoning industry.
Solana Supporters Buck Up Network As FTX Contagion Takes Toll It’s safe to say that last week few Solana fans were worried about contagion from a centralized derivatives exchange that focused on putting its name on sports arenas and not DeFi.
Binance to Take Over FTX After Insolvency Concerns Spark Market Rout Binance, the world’s largest crypto exchange, plans to execute an emergency takeover of FTX, the crypto derivatives platform that has been hit with a crisis of confidence as its FTT token lost more than a quarter of its value on Monday, Changpeng Zhao, Binance’s CEO, said in a Twitter thread Tuesday.

News

Ether Turns Net Deflationary Post-Merge Ether is finally ultra-sound money. The largest smart contract platform by market capitalization has hit the much-anticipated milestone of zero net issuance, 54 days after it the network transitioned to proof-of-stake consensus.

Markets

Crypto Markets Whipsawed After Binance’s Deal To Acquire FTX Fuels Short-Lived Rally Crypto markets are on track for their worst day since June as investors are choosing to stay on the sidelines of the nascent industry while yet another centralized crypto player finds itself on the ropes.

DeFi Explainers

What is zkSync? Every computer network is limited by its throughput capacity. How much data can it handle before becoming too congested? This problem is especially acute with a specific type of computer network: blockchains.

Tuesday

FTX Crisis

FTX Hit By $1.2B in Withdrawals as Confidence Wavers in Exchange Giant FTX’s reserves are under siege as a wave of users withdraw their assets from the derivatives exchange after its dependency on its token FTT and its relationship with a sister company, Alameda Research, raised doubts about its financial strength.
CZ Cranks Up Pressure on FTX With Massive Token Sale In a major development for FTX, Binance, a rival cryptocurrency exchange, is planning to dump FTT tokens on the market, according to CEO Changpeng Zhou.

News

Polygon Working to Become ‘True Layer 2’ Polygon, the most popular of Ethereum’s many scaling solutions, is working to address one of its most persistent critiques and tap into the security and decentralization of Ethereum, according to its co-founders.
U.S. Authorities Seize $1B Worth of Bitcoin from Silk Road Heist The U.S. Department of Justice said Nov. 7 that it seized more than 50,000 Bitcoin stolen from darkweb marketplace Silk Road a decade ago.
Wintermute Elbows Into Crowded DEX Market Bebop, a decentralized exchange built by crypto market maker Wintermute, launched Tuesday on the Polygon blockchain with an old-fashioned approach to an issue that has plagued DeFi for two years — delivering assets at quoted prices.

NFT News

OpenSea Roils NFT Market With ‘Enforcement Tool’ For Creators NFT creators are finally getting a little financial help. At least that’s the pitch from OpenSea. On Tuesday, OpenSea, the No. 1 NFT marketplace, plans to release an “on-chain enforcement tool” that will let artists stop their work from being sold on sites that do not distribute royalty fees.

DeFi Explainers

What Is LUNC? Following the collapse of the Terra ecosystem in May 2022, the blockchain was rebranded and hard-forked into Terra 2.0. The LUNA Classic token was a part of that rebranding, as the renamed original LUNA leftover.

💜Community Love💜

Thanking all the amazing Defiers for the support and love this week (and always)!

@PhilippPieper weighs in on the #sol debate: thedefiant.io/solana-support…\n\n@DefiantNews #Solana #FTX #Binance","username":"SwarmMarkets","name":"Swarm Markets","profile_image_url":"","date":"Wed Nov 09 14:35:43 +0000 2022","photos":[],"quoted_tweet":{},"reply_count":0,"retweet_count":3,"like_count":7,"impression_count":0,"expanded_url":{"url":"https://thedefiant.io/solana-supporters-buck-up-network-as-ftx-contagion-takes-toll","image":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/caece2bc-b465-4fcc-9987-423c7622c01d_880x495.jpeg","title":"Solana Supporters Buck Up Network As FTX Contagion Takes Toll - The Defiant","description":"It’s safe to say that last week few Solana fans were worried about contagion from a centralized derivatives exchange that focused on putting its name on sports arenas and not DeFi.","domain":"thedefiant.io"},"video_url":null,"belowTheFold":true}" data-component-name="Twitter2ToDOM">

@DefiantNews.\n\n@CamiRusso has built a team dedicated to objective, data-backed, primary-source, real-time reporting, in written, video, and podcast format.\n\n👉 sponsors@thedefiant.io","username":"DeFi_Dad","name":"DeFi Dad ⟠ defidad.eth 🦇🔊🐼","profile_image_url":"","date":"Wed Nov 02 20:14:17 +0000 2022","photos":[],"quoted_tweet":{},"reply_count":0,"retweet_count":3,"like_count":22,"impression_count":0,"expanded_url":{},"video_url":null,"belowTheFold":true}" data-component-name="Twitter2ToDOM">

@samuel_haig, The Defiant's first-ever Reporter of the Month!\n\nWell done Sam! Enjoy your shiny new NFT 🏆👏 ","username":"DefiantNews","name":"The Defiant","profile_image_url":"","date":"Tue Nov 08 00:17:22 +0000 2022","photos":[{"img_url":"https://substackcdn.com/image/upload/w_1028,c_limit,q_auto:best/l_twitter_play_button_rvaygk,w_88/meigvjym3813tgc4xwbz","link_url":"https://t.co/e0WlwLgLlZ","alt_text":null}],"quoted_tweet":{},"reply_count":0,"retweet_count":8,"like_count":33,"impression_count":0,"expanded_url":{},"video_url":"https://video.twimg.com/ext_tw_video/1589773873393737728/pu/vid/540x540/HxdLOX7r1rktS8J9.mp4?tag=12","belowTheFold":true}" data-component-name="Twitter2ToDOM">

@CamiRusso @samuel_haig @EddieRob235 This may be the biggest Ponzi scheme I've seen, or read about, in my 38 years of covering markets. It's a self-directed daisy chain of interlocked token holdings that simply don't exist ladled with excessive leverage. \"Some Extraordinary Delusions and the Madness of Crowds, 2.0\"","username":"rinsana","name":"ron insana","profile_image_url":"","date":"Wed Nov 09 15:27:43 +0000 2022","photos":[],"quoted_tweet":{},"reply_count":0,"retweet_count":2,"like_count":12,"impression_count":0,"expanded_url":{},"video_url":null,"belowTheFold":true}" data-component-name="Twitter2ToDOM">

@DefiantNews podcast has a new co-host: @theklineventure! 🎙️\n\nCatch Tegan's & @CamiRusso's interview with @ajwarner90 as they discuss scaling Ethereum with @arbitrum, DeFi, @graphprotocol, @Reddit's web3 jump & more in the inaugural episode of the podcast's new format. ","username":"edgeandnode","name":"Edge & Node","profile_image_url":"","date":"Tue Nov 08 16:39:52 +0000 2022","photos":[],"quoted_tweet":{"full_text":"Thanks so much to ⁦@CamiRusso⁩ and special co-host ⁦@theklineventure⁩ for having me! This was a ton of fun! https://t.co/1LVQZQV27w","username":"ajwarner90","name":"A.J. Warner (💙,🧡)"},"reply_count":0,"retweet_count":12,"like_count":40,"impression_count":0,"expanded_url":{},"video_url":null,"belowTheFold":true}" data-component-name="Twitter2ToDOM">

@CoinDesk for breaking the FTX insolvency story.","username":"CamiRusso","name":"Camila Russo","profile_image_url":"","date":"Wed Nov 09 00:47:29 +0000 2022","photos":[],"quoted_tweet":{},"reply_count":0,"retweet_count":7,"like_count":83,"impression_count":0,"expanded_url":{},"video_url":null,"belowTheFold":true}" data-component-name="Twitter2ToDOM">

@DefiantNews podcast 👀\n\nVery excited that @theklineventure will be joining me as co-host! We published our first episode last week with @arbitrum's @ajwarner90 and it was 🔥 \n\nCheck it out:\nyoutube.com/watch?v=I_9m_j…","username":"CamiRusso","name":"Camila Russo","profile_image_url":"","date":"Mon Nov 07 16:04:28 +0000 2022","photos":[],"quoted_tweet":{},"reply_count":0,"retweet_count":8,"like_count":24,"impression_count":0,"expanded_url":{"url":"https://www.youtube.com/watch?v=I_9m_jRzDms","image":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/335896cd-d911-4dbd-9f74-cf8788a2e414_1280x720.jpeg","title":"How Arbitrum Became The Number 1 Layer 2","description":"In today’s podcast I have two special guests. First is AJ Warner. He is the Chief Strategy Officer at Offchain Labs, the team behind Arbitrum. They are one o...","domain":"youtube.com"},"video_url":null,"belowTheFold":true}" data-component-name="Twitter2ToDOM">

🧑‍💻 ✍️ Stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, and yyctrader, and edited by Edward Robinson, yyctrader and Camila Russo. Videos were produced by Alp Gasimov. Podcast was led by Camila, edited by Alp.

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📬 Inbox Dump #76

Laura — Sat, 12 Nov 2022 18:00:58 GMT

At The …

😲 Crypto Lender BlockFi Suspends Withdrawals

Edward Robinson — Fri, 11 Nov 2022 13:30:43 GMT

Hello Defiers! Here’s what we’re covering today:

FTX Crisis

News

MetaMask Launches Integrated Bridge Feature

Markets

Investors Bargain Hunt as Inflation Report Spurs Market Rally

Podcast

Video

Daily Defiant: Can SBF make a comeback?

Trending in The Defiant

Elsewhere

Sponsored post

The Knights Who Say Nah

Get the 5-minute newsletter keeping 78K+ crypto innovators in the loop.

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A word from our wonderful sponsors, who make this newsletter possible:

FTX Crisis: Contagion

😲 Crypto Lender BlockFi Suspends Withdrawals

Platform Cites Exposure to FTX

By Owen Fernau

WITHDRAWALS BlockFi, a centralized crypto lender which pays users a return on deposits of digital assets, has paused withdrawals on its platform.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

FTX Crisis: Regulators

🥶 Bahamas Securities Commission to Freeze and Liquidate FTX Assets

Beleaguered Exchange Allegedly Used Customer Funds to Bail Out Sister Concern

By Samuel Haig

FREEZE The Bahamas Securities Commission has stepped in to freeze the assets of FTX Digital Markets (FDM), Sam Bankman-Fried’s failing crypto exchange, in the latest blow to the once-mighty platform.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Sponsored Post

The Knights Who Say Nah is the brainchild of Nick Richey, who is not only an award-winning indie screenwriter and director but also the Keeper of Arms of the largest private collection of arms and armor in the world. Knights marries Nick’s love of media and antiquities, resulting in a multi-platform media company on a mission to democratize access to the world of ancient artifacts.

Knights has pioneered photogrammetry techniques to take one-of-a-kind ancient objects and bring them to the metaverse in 3D, bringing you up-close and personal with each sword, rapier, battle helmet, and beyond. The project will kick off with four culture “drops,” each release representing a different ancient warrior culture. Each drop will include a limited release of 2D collectible avatars and 3D collectible artifact NFTs.

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FTX Crisis: Withdrawals

🇧🇸 FTX Withdrawals Resume But Only for Bahamas-Based Accounts

Tron Providing Support to FTX Users with Tron Tokens Trapped on Platform

By Samuel Haig

TRICKLING Withdrawals are once again trickling out of FTX, but only for certain customers, according to Zane Tackett, FTX’s ex-head of institutional sales. The mammoth crypto derivatives exchange, which poleaxed the market this week after suffering a crisis of confidence, is processing withdrawals solely for Bahamian accounts, Tackett said on Twitter.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

FTX Crisis: SBF

🤷🏻‍♂️ SBF Surfaces With Apology and Details on FTX’s Condition

Embattled Crypto Head to Close Alameda; confirms $5B in Withdrawals on Sunday

By Aleksandar Gilbert

APOLOGY Breaking his silence during a two-day period when the crypto market erased $131B in value, Sam Bankman-Fried finally offered up a mea culpa for the damage wrought by the murky practices at his exchange FTX, and the hedge fund he controls, Alameda Research.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

FTX Crisis: Stablecoins

👀 Tether Freezes $47M USDT Stake Held by FTX

Stablecoin Recovers Parity After Slipping Peg

By Tarang Khaitan

STABLECOIN Tether, the issuer behind the No. 1 U.S. dollar-backed stablecoin, USDT, froze almost $47M worth of USDT held by FTX exchange on the Tron blockchain. Block explorer Tronscan has traced the address with frozen assets to FTX.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Market Action

📈 Investors Bargain Hunt as Inflation Report Spurs Market Rally

Investors Bet Fed May Ease Off Rate Increases

By: Aleksandar Gilbert

COOLING Well that’s a relief. The crypto market rallied on Thursday after the U.S. government released data that shows inflation cooled in October to its lowest level since January.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Ethereum Wallets

🦊 MetaMask Launches Integrated Bridge Feature

Users Can Bridge Up To $10,000 Across Blockchains

By Tarang Khaitan

BRIDGES MetaMask, the leading web3 wallet provider, has released MetaMask Bridges, a bridge aggregation service. This feature allows users to transfer their assets across multiple blockchains from within the wallet.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Shoutout

The Tube

📺 Daily Defiant: Can SBF make a comeback?

Podcast Video

🎙📺 Robinhood is coming after MetaMask with Polygon Web3 Wallets

Trending in The Defiant

DeFi Supporters Say FTX’s Black Box Model Shows Peril of Centralization Don’t blame DeFi. That’s the vibe running through the decentralized finance community as project teams and investors cope with the damage wrought by the meltdown of FTX, the centralized derivatives exchange.
FTX Crisis Shifts Into New Phase as Contagion Spreads and Investors Scramble for Cover Twelve hours after Binance nixed hopes of a tidy bailout of FTX, turmoil rages in the crypto markets.
Trapped FTX Users May Find Lifeline in Justin Sun While many crypto traders wait with bated breath to learn the fate of their funds trapped on the failing FTX exchange, Justin Sun, the founder of Tron, may be preparing to throw a lifeline to FTX’s stranded customers.

Elsewhere

🔗 Revisiting MicroStrategy's Pain Points as Bitcoin Tumbles: CoinDesk

MicroStrategy (MSTR) Executive Chairman Michael Saylor told CNBC he’s not straying from his strategy of buying and holding bitcoin (BTC) despite the crypto’s plunge to a new two-year low this week.

🔗 Coinbase Lays Off Over 60 Employees Amid Crypto Market Turmoil: Decrypt

Coinbase is laying off more than 60 staff in its recruiting and institutional onboarding departments, The Information reported Thursday.

🧑‍💻 ✍️ Stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, and yyctrader, and edited by Edward Robinson, yyctrader and Camila Russo. Videos were produced by Alp Gasimov. Podcast was led by Camila, edited by Alp.

Free subscribers to the newsletter get:

Daily news briefings
Sunday Weekly recap
General chat on The Defiant’s Discord server

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Full transcript of exclusive podcast interviews
DeFi Alpha weekly newsletter on how to put your money to work in DeFi by yyctrader and DeFi Dad
Weekly live DeFi Alpha call with yyctrader
Inbox Dump edition of The Defiant newsletter every Saturday with all the PR that didn’t make it to our content channels
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DeFi Alpha Call #26 Recap

Thu, 10 Nov 2022 21:46:09 GMT

Hello Defiers! This is a recap of our latest DeFi Alpha Call that took place on 11/07/2022 in Discord.

Timestamps

02:03 Market Overview
09:08 NFT Roundup
23:28 Starter Tutorial - Lend USDT for 12.4% APY to undercollateralized borrowers on TrueFi
28:44 Degen Tutorial - Using the SUI Testnet for a potential airdrop.

Market Overview

What do we have this week?

US elections
Inflation numbers
Dollar looks promising

This year has gone pretty much as expected for a year with midterm elections. If the pattern stays the same, the rest of the year should be smooth sailing.

After the results are out, the market should take some time to think about them and then move on. But we have to consider that, from the Fed's point of view, this year is definitely not normal.

The S&P gave up some of its gains, but it seems to be getting better again. We need to keep an eye on this because of the link we've seen between crypto and the stock market.

ETH

Right now, the 200-day moving average is acting as a resistance. The 200-day is basically the line in the sand that separates a bullish trend from a bearish one. We've finally come back to test it. Now, the question is whether we'll get rejected again at this trend line and go back to support or whether we'll just break out from here. That's the million-dollar question.

🎙️Polygon's Hamzah Khan Wants to Make DeFi More Accessible Than Running Water

yyctrader — Thu, 10 Nov 2022 20:25:33 GMT

And finally, Hamzah shares his insights into the DeFi ecosystem on Polygon —where most of the activity happens and the innovations he’s excited about.

🎙Listen to the interview in this week’s podcast episode here:

📺 Watch the video here:

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🙏 Thanking our podcast sponsors:

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What follows is a summary of the podcast episode.

😬 FTX Crisis Shifts Into New Phase as Contagion Spreads and Investors Scramble for Cover

Edward Robinson — Thu, 10 Nov 2022 13:30:57 GMT

Hello Defiers! Here’s what we’re covering today:

FTX Crisis

News

Sponsored post

The Knights Who Say Nah

Podcast

Video

Daily Defiant: FTX UPDATE: BINANCE ABANDONS ACQUISITION PLAN

DeFi Explainers

What is 88mph?

Elsewhere

Trending in The Defiant

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FTX Crisis: Overview

😬 FTX Crisis Shifts Into New Phase as Contagion Spreads and Investors Scramble for Cover

Turmoil Reins With Bitcoin Plunging to Two-Year Low and Solana Cratering

By Samuel Haig

FEARS Twelve hours after Binance nixed hopes of a tidy bailout of FTX, turmoil rages in the crypto markets. Digital assets are hitting new lows, a potential savior has emerged in the form of Tron’s Justin Sun, and fears are mounting that more damage is to come as authorities circle the stricken exchange and its sister firm, Alameda Research.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

FTX Crisis: DeFi Impact

🕋 DeFi Supporters Say FTX’s Black Box Model Shows Peril of Centralization

Contagion Wipes Out $10B of DeFi’s Market Cap in 48 Hours

By Owen Fernau

VIBE Don’t blame DeFi. That’s the vibe running through the decentralized finance community as project teams and investors cope with the damage wrought by the meltdown of FTX, the centralized derivatives exchange.

CONTAGION Even though DeFi stalwarts had nothing to do with the practices that sank Sam Bankman-Fried’s high-profile company they have been impacted by the contagion from its demise.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Sponsored Post

FTX Crisis: Solutions

🪤 Trapped FTX Users May Find Lifeline in Justin Sun

Tron Tokenholders Can Redeem Them with Huobi

By Samuel Haig

LIFELINE While many crypto traders wait with bated breath to learn the fate of their funds trapped on the failing FTX exchange, Justin Sun, the founder of Tron, may be preparing to throw a lifeline to FTX’s stranded customers.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

FTX Crisis: Solana

💦 Solend Struggles to Liquidate Souring Loan as On-Chain Liquidity ‘Evaporates’

SOL Has Crashed 55% In Rough Week for Crypto

By Aleksandar Gilbert

HAVOC The apparent collapse of crypto exchange FTX is wreaking havoc on the Solana ecosystem, with another centralized exchange reportedly halting stablecoin deposits to and from Solana and the blockchain’s largest protocol hanging on by its fingernails on Tuesday.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

FTX Crisis: Binance Deal

🚨 Binance Walks Away From Deal To Acquire FTX

Bitcoin Crashes to 2-Year Low Under $16,000

By:Aleksandar Gilbert

TAILSPIN Binance, the world’s largest crypto exchange, said it is walking away from its preliminary agreement to buy competitor FTX, an announcement that sent cryptocurrencies into a late afternoon tailspin Wednesday.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

NFT Marektplaces

🌊 OpenSea Will Enforce Royalties for Existing NFT Collections

Creator Fees Will Be Optional for New Collections Unless They Ban Fee-Free Marketplaces

By Owen Fernau

FEES OpenSea, the leading NFT marketplace by volume, will continue to enforce creator fees on its platform for existing collections. This means that, unlike many exchanges which have made royalties optional, the creators of NFT collections already trading on OpenSea will be able to continue to collect royalties on trades.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Tornado Sanctions

🏛 Feds Crank Up Heat on Tornado Cash With Link to North Korea’s Nuclear Program

OFAC Says Sanctions are Part of Effort to Limit Development of Ballistic Missiles

By Tarang Khaitan

MIXER The Biden Administration has raised the stakes in the Tornado Cash sanctions case by alleging the crypto mixer was involved in facilitating transactions connected to North Korea’s nuclear weapons program.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

The Tube

📺 Daily Defiant: FTX UPDATE: BINANCE ABANDONS ACQUISITION PLAN

Podcast Video

📺🎙 How Arbitrum Became The Number 1 Layer 2

Shoutout

Hey Anon, Yuga Labs is coming to Benzinga’s Future of Crypto conference. Are you?

Use code DEFIANT30 to get 30% off tickets!

DeFi Explainers

🛣 What is 88mph?

A Step-by-Step Guide to the DeFi Lending App

By Rahul Nambiampurath

FIXED RATE 88mph is an Ethereum-based, decentralized application (dApp) for users who want to borrow and lend at a fixed interest rate. But instead of being a self-contained protocol, 88mph is actually a mediator for more popular third-party lending dApps, such as Aave or Compound. It’s designed for advanced DeFi investors who understand the perils of financial complexity.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Elsewhere

🔗 Speechless: Arthur Hayes on Medium

I asked a question on Twitter a few days ago wondering who would be the Lehman Brothers of this crypto credit cycle.

🔗 Binance chief says near collapse of FTX ‘severely’ eroded confidence in crypto industry: The Financial Times

The near collapse of FTX has “severely shaken” confidence in the crypto industry and will trigger tougher scrutiny by regulators, Binance chief Changpeng Zhao said a day after orchestrating a rescue of the exchange’s rival.

#Web3's core values include decentralization.\n\nIt is a desirable state in which power and control over a protocol, project, or network are distributed evenly among its participants.\n\nOne important vector in decentralizing a network is its Validators.","username":"0xPolygon","name":"Polygon - MATIC 💜","profile_image_url":"","date":"Wed Nov 09 16:59:39 +0000 2022","photos":[],"quoted_tweet":{},"reply_count":0,"retweet_count":33,"like_count":204,"impression_count":0,"expanded_url":{},"video_url":null,"belowTheFold":true}" data-component-name="Twitter2ToDOM">

Trending in The Defiant

Focus Turns to Alameda as Investors Fear Binance Deal Not the Answer for Stricken FTX As cryptocurrency investors and users reckon with the fallout from Binance’s shocking takeover of FTX, one thing is clear: the episode is a disaster for the burgeoning industry.
Solana Supporters Buck Up Network As FTX Contagion Takes Toll It’s safe to say that last week few Solana fans were worried about contagion from a centralized derivatives exchange that focused on putting its name on sports arenas and not DeFi.
OpenSea Roils NFT Market With ‘Enforcement Tool’ For Creators NFT creators are finally getting a little financial help. At least that’s the pitch from OpenSea. On Tuesday, OpenSea, the No. 1 NFT marketplace, plans to release an “on-chain enforcement tool” that will let artists stop their work from being sold on sites that do not distribute royalty fees.

🧑‍💻 ✍️ Stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, and yyctrader, and edited by Edward Robinson, yyctrader and Camila Russo. Videos were produced by Alp Gasimov. Podcast was led by Camila, edited by Alp.

Free subscribers to the newsletter get:

Daily news briefings
Sunday Weekly recap
General chat on The Defiant’s Discord server

👑 Prime defiers get:

Full transcript of exclusive podcast interviews
DeFi Alpha weekly newsletter on how to put your money to work in DeFi by yyctrader and DeFi Dad
Weekly live DeFi Alpha call with yyctrader
Inbox Dump edition of The Defiant newsletter every Saturday with all the PR that didn’t make it to our content channels
Exclusive community calls with the team
Subscriber-only chats on The Defiant Discord server
Full access to The Defiant’s content archive

Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button below ($15/mo, $150/yr).

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😥 Focus Turns to Alameda as Investors Fear Binance Deal Not the Answer for Stricken FTX

Edward Robinson — Wed, 09 Nov 2022 13:30:56 GMT

Hello Defiers! Here’s what we’re covering today. But first, we'd like to take a minute to thank our sponsors, who make it possible for us to send out today’s newsletter.

Aave Grants: http://aavegrants.org/thedefiant
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FTX Crisis

News

Ether Turns Net Deflationary Post-Merge

Markets

Crypto Markets Whipsawed After Binance’s Deal To Acquire FTX Fuels Short-Lived Rally

Podcast

Video

Daily Defiant: Feds Seize $3.36 Billion Crypto Linked to Silk Road

DeFi Explainers

What is zkSync?

Elsewhere

Trending in The Defiant

Sponsored post

The Knights Who Say Nah

A word from our wonderful sponsors, who make this newsletter possible:

FTX Crisis

😥 Focus Turns to Alameda as Investors Fear Binance Deal Not the Answer for Stricken FTX

Evidence Emerges FTX Used FTT Token for $4B Bailout of Alameda in September

By Samuel Haig

FALLOUT As cryptocurrency investors and users reckon with the fallout from Binance’s shocking takeover of FTX, one thing is clear: the episode is a disaster for the burgeoning industry.

COLLAPSES “These events quickly sent the broader market into a tailspin, heaping more pressure on the prices of crypto,” Bobby Ong, the co-founder of CoinGecko, told The Defiant. “Collapses such as these only serve to erode the confidence of users and the general public towards the industry, and could become a hindrance to growing adoption.”

QUESTIONS The questions now are how bad is it, and how long will it last?

👉READ THE FULL STORY IN THE DEFIANT.IO👈

FTX Crisis

😬 Solana Supporters Buck Up Network As FTX Contagion Takes Toll

Alameda and FTX Have Extensive Links with Layer 1 Blockchain Network

By Owen Fernau

CONTAGION It’s safe to say that last week few Solana fans were worried about contagion from a centralized derivatives exchange that focused on putting its name on sports arenas and not DeFi.

TORQUE Yet the rapid unraveling of confidence in FTX, the mammoth crypto derivatives exchange, and its sister firm, Alameda Research, has swept up Solana and whipsawed its tokenholders with unforeseen torque.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Sponsored Post

🤯 Binance to Take Over FTX After Insolvency Concerns Spark Market Rout

Binance Agrees to Bail Out Rival After FTT Token Collapses

By Aleksandar Gilbert

CRISIS Binance, the world’s largest crypto exchange, plans to execute an emergency takeover of FTX, the crypto derivatives platform that has been hit with a crisis of confidence as its FTT token lost more than a quarter of its value on Monday, Changpeng Zhao, Binance’s CEO, said in a Twitter thread Tuesday.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Market Action

📉 Crypto Markets Whipsawed After Binance’s Deal To Acquire FTX Fuels Short-Lived Rally

Solana Ecosystem Battered as FTT Crashes 85%

By yyctrader

WORST DAY Crypto markets are on track for their worst day since June as investors are choosing to stay on the sidelines of the nascent industry while yet another centralized crypto player finds itself on the ropes.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Ethererum

🔥 Ether Turns Net Deflationary Post-Merge

Spike In Network Activity Sees Nearly 3,000 ETH Burned in the Past Day

By yyctrader

ULTRA-SOUND Ether is finally ultra-sound money. The largest smart contract platform by market capitalization has hit the much-anticipated milestone of zero net issuance, 54 days after it the network transitioned to proof-of-stake consensus.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Shoutout

Launch your own token in less than 3 simple clicks for the chance to win over 150,000 WX tokens in prizes! Visit our website now to get started!

The Tube

📺 Daily Defiant: Feds Seize $3.36 Billion Crypto Linked to Silk Road

Podcast Video

📺🎙 How Arbitrum Became The Number 1 Layer 2

DeFi Explainers

🤔 What is zkSync?

A Step-by-Step Guide to the High-Capacity Blockchain Network

By Rahul Nambiampurath

CONGESTED Every computer network is limited by its throughput capacity. How much data can it handle before becoming too congested? This problem is especially acute with a specific type of computer network: blockchains.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Elsewhere

🔗 US Treasury Adds to Tornado Cash Sanctions With North Korea WMD Allegations: CoinDesk

The U.S. Treasury Department is "redesignating" Tornado Cash as a sanctioned entity, overtly alleging that North Korea has used the crypto mixing service to support its weapons of mass destruction (WMD) program.

🔗 Twitter Won’t Go Web3 ‘Anytime Soon’: Aave CEO Stani Kulechov: Decrypt

Despite Elon Musk's recent takeover of Twitter, Aave co-founder and CEO Stani Kulechov believes the microblogging platform won't be on the blockchain anytime soon.

@binance will start to do proof-of-reserves soon. Full transparency.","username":"cz_binance","name":"CZ 🔶 Binance","profile_image_url":"","date":"Tue Nov 08 18:57:03 +0000 2022","photos":[],"quoted_tweet":{},"reply_count":0,"retweet_count":4970,"like_count":30675,"impression_count":0,"expanded_url":{},"video_url":null,"belowTheFold":true}" data-component-name="Twitter2ToDOM">

Trending in The Defiant

FTX Hit By $1.2B in Withdrawals as Confidence Wavers in Exchange Giant FTX’s reserves are under siege as a wave of users withdraw their assets from the derivatives exchange after its dependency on its token FTT and its relationship with a sister company, Alameda Research, raised doubts about its financial strength.
CZ Cranks Up Pressure on FTX With Massive Token Sale In a major development for FTX, Binance, a rival cryptocurrency exchange, is planning to dump FTT tokens on the market, according to CEO Changpeng Zhou.
OpenSea Roils NFT Market With ‘Enforcement Tool’ For Creators NFT creators are finally getting a little financial help. At least that’s the pitch from OpenSea. On Tuesday, OpenSea, the No. 1 NFT marketplace, plans to release an “on-chain enforcement tool” that will let artists stop their work from being sold on sites that do not distribute royalty fees.

🧑‍💻 ✍️ Stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, and yyctrader, and edited by Edward Robinson, yyctrader and Camila Russo. Videos were produced by Alp Gasimov. Podcast was led by Camila, edited by Alp.

Free subscribers to the newsletter get:

Daily news briefings
Sunday Weekly recap
General chat on The Defiant’s Discord server

👑 Prime defiers get:

Full transcript of exclusive podcast interviews
DeFi Alpha weekly newsletter on how to put your money to work in DeFi by yyctrader and DeFi Dad
Weekly live DeFi Alpha call with yyctrader
Inbox Dump edition of The Defiant newsletter every Saturday with all the PR that didn’t make it to our content channels
Exclusive community calls with the team
Subscriber-only chats on The Defiant Discord server
Full access to The Defiant’s content archive

Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button below ($15/mo, $150/yr).

You can start a prime membership for free right now with this link. You’ll get full access for 7 days. It’s 100% risk-free.

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💥 FTX Hit By $1.2B in Withdrawals as Confidence Wavers in Exchange Giant

Edward Robinson — Tue, 08 Nov 2022 13:30:59 GMT

FTX Drama

News

NFT News

OpenSea Roils NFT Market With ‘Enforcement Tool’ For Creators

Sponsored post

The Knights Who Say Nah

Podcast

Video

DeFi Explainers

What Is LUNC?

Elsewhere

Trending in The Defiant

The open economy is taking over the old one. Subscribe to keep up with this revolution. Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button below ($15/mo, $150/yr).

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FTX Crisis

💥 FTX Hit By $1.2B in Withdrawals as Confidence Wavers in Exchange Giant

Binance’s Move to Sell FTT Position Triggers 22% Plunge as FTX Scrambles to Shore Up Liquidity

By Samuel Haig

SIEGE FTX’s reserves are under siege as a wave of users withdraw their assets from the derivatives exchange after its dependency on its token FTT and its relationship with a sister company, Alameda Research, raised doubts about its financial strength.

WITHDRAWN On Nov, 8, Nansen reported that FTX users had withdrawn $1.2B worth of Ether and ERC-20 tokens from the exchange over the last 24 hours, and deposited just $540M during the same period.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

FTX Crisis

👀 CZ Cranks Up Pressure on FTX With Massive Token Sale

Binance Plans to Liquidate FTT Stake After Report Raises Questions About Symbiosis of FTX and Alameda

By Samuel Haig

DUMP In a major development for FTX, Binance, a rival cryptocurrency exchange, is planning to dump FTT tokens on the market, according to CEO Changpeng Zhou.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Sponsored Post

Blockchains

💠 Polygon Working to Become ‘True Layer 2’

Aims To Address Security and Decentralization Concerns

By Aleksandar Gilbert

CRITIQUES Polygon, the most popular of Ethereum’s many scaling solutions, is working to address one of its most persistent critiques and tap into the security and decentralization of Ethereum, according to its co-founders.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

NFT Marketplaces

🌊 OpenSea Roils NFT Market With ‘Enforcement Tool’ For Creators

NFT Marketplace to Let Artists Prevent Sale of Work on Non-Royalty Sites

By Samuel Haig

TOOL NFT creators are finally getting a little financial help. At least that’s the pitch from OpenSea. On Tuesday, OpenSea, the No. 1 NFT marketplace, plans to release an “on-chain enforcement tool” that will let artists stop their work from being sold on sites that do not distribute royalty fees.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Bitcoin Heists

🦹🏻‍♂️ U.S. Authorities Seize $1B Worth of Bitcoin from Silk Road Heist

Bitcoin Keys Were Stashed in Underground Safe and Devices

By Tarang Khaitan

DARKWEB The U.S. Department of Justice said Nov. 7 that it seized more than 50,000 Bitcoin stolen from darkweb marketplace Silk Road a decade ago.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

DEXs

🥊 Wintermute Elbows Into Crowded DEX Market

Bebop Hopes to Win Share With No Slippage Feature

By Aleksandar Gilbert

LAUNCH Bebop, a decentralized exchange built by crypto market maker Wintermute, launched Tuesday on the Polygon blockchain with an old-fashioned approach to an issue that has plagued DeFi for two years — delivering assets at quoted prices.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

The Tube

📺 Daily Defiant: FTX Insolvency Rumors Are Flying and Binance's CZ is Making it Worse

📺 Weekly Recap: Art Gobblers, Coinbase Savings, Chicken Bonds, JPMorgan in DeFi, Instagram NFTs

Shoutout

Launch your own token in less than 3 simple clicks for the chance to win over 150,000 WX tokens in prizes! Visit our website now to get started!

Podcast Video

📺🎙 How Arbitrum Became The Number 1 Layer 2

DeFi Explainers

🤔 What Is LUNC?

A Step-by-Step Guide to Terra’s Failed Tokens

By Rahul Nambiampurath

REBRANDED Following the collapse of the Terra ecosystem in May 2022, the blockchain was rebranded and hard-forked into Terra 2.0. The LUNA Classic token was a part of that rebranding, as the renamed original LUNA leftover.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Elsewhere

🔗 SEC issues subpoena to influencers promoting HEX, Pulsechain and PulseX: CoinTelegraph

Over several years, social media influencers have earned a bad rep among regulators for shilling risky and unvetted tokens to millions of investors.

🔗 Coinbase Deal Shows Google Is Committed to Crypto – How Much Depends on Whom You Ask: CoinDesk

Going by recent headlines and what the company says, one would assume Google is diving into crypto.

#SolanaBreakpoint!\n🧵","username":"SolanaConf","name":"Solana Breakpoint | 🚋 LISBON Nov. 4-7","profile_image_url":"","date":"Sun Nov 06 18:34:12 +0000 2022","photos":[],"quoted_tweet":{},"reply_count":0,"retweet_count":19,"like_count":195,"impression_count":0,"expanded_url":{},"video_url":null,"belowTheFold":true}" data-component-name="Twitter2ToDOM">

Trending in The Defiant

Mistaken $1B Hack Exposes ‘Blessing and Curse’ of Web3 The cross-chain bridge provider, pNetwork, swung into damage control after its attempt to address a “misconfiguration” in its code gave the appearance of a $1B hack.
Art Gobblers’ Floor Price Drops 50% After Splashy Debut Art Gobblers, a highly anticipated NFT collection designed by Rick and Morty creator Justin Roiland and backed by Paradigm, the web3 venture capital fund, saw its floor price cut in half on Nov. 3.
What Is dYdX? DYdX is a decentralized exchange (DEX) hosted on Ethereum that enables the swap of at least 36 cryptocurrencies without know-your-customer (KYC) identity verification.

🧑‍💻 ✍️ Stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, and yyctrader, and edited by Edward Robinson, yyctrader and Camila Russo. Videos were produced by Alp Gasimov. Podcast was led by Camila, edited by Alp.

Free subscribers to the newsletter get:

Daily news briefings
Sunday Weekly recap
General chat on The Defiant’s Discord server

👑Prime defiers get:

Full transcript of exclusive podcast interviews
DeFi Alpha weekly newsletter on how to put your money to work in DeFi by yyctrader and DeFi Dad
Weekly live DeFi Alpha call with yyctrader
Inbox Dump edition of The Defiant newsletter every Saturday with all the PR that didn’t make it to our content channels
Exclusive community calls with the team
Subscriber-only chats on The Defiant Discord server
Full access to The Defiant’s content archive

Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button below ($15/mo, $150/yr).

You can start a prime membership for free right now with this link. You’ll get full access for 7 days. It’s 100% risk-free.

7-day Free Trial

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WE'VE MOVED TO thedefiant.io

DeFi Alpha Call #28 Recap

TIMESTAMPS

Market Overview

ETH

What happens next?

🚣🏽‍♀️ Stablecoins Show Signs of Stabilizing After FTX Storm

News

Podcast

Video

Trending in The Defiant

Stablecoins

🚣🏽‍♀️ Stablecoins Show Signs of Stabilizing After FTX Storm

TVL for Top Five Stablecoins Falls 18% Since FTX Meltdown

Stablecoins

📄 Curve Releases Whitepaper for crvUSD Stablecoin

Overcollateralized Design Will Use a Novel Lending-Liquidating AMM Algorithm (LLAMMA)

Sponsored Post

Crypto Derivatives

♾ Crypto Perpetual Open Interest Dives 43% in Wake of FTX Collapse

Binance Holds a Larger Piece of a Smaller Pie

Fan Tokens

⚽️ World Cup Fan Tokens Rise and Fall With Action on the Pitch

Argentina’s Fan Token Slumps After Shock Loss to Saudi Arabia

Defiant Video

📺 Tornado Cash Developer’s First Public Hearing

Podcast Video

📺 JPMorgan’s First DeFi Trade: Behind The Scenes

Trending in The Defiant

🧑‍💻 ✍️ News stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, yyctrader, and contributors, and are edited by Edward Robinson, yyctrader and Camila Russo. The video team is led by Alp Gasimov. The podcast is led by Camila.

🏂Avalanche and MakerDAO Race Forward Amid FTX Fallout

News

Opinion

Podcast

Video

Layer 1s

DFK Chain Subnet Drives 51% Jump in Transactions Processed in September

FTX Crisis: Hacks

Sponsored Post

Ethereum Staking

Deal Challenges Liquidity Staking Giant Lido

FTX Crisis: Regulators

Nearly $500M Was Drained From Bankrupt Exchange On Nov. 11

FTX Crisis: Contagion

DEXs

New Privacy Policy Says Exchange May Share Personal Data in Certain Cases

Opinion

New Technology Can Deliver a User-Controlled Web and Propel the Expansion of DeFi

Defiant Video

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🧑‍💻 ✍️ News stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, yyctrader, and contributors, and are edited by Edward Robinson, yyctrader and Camila Russo. The video team is led by Alp Gasimov. The podcast is led by Camila.

🦄 Recap: DeFi Week of Nov. 13

📬 Inbox Dump #77

⍺ DeFi Alpha: Claim a Dawn NFT on the SEI Testnet for a Potential Airdrop

Motivation

📈 Yield Alpha

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Leveraged yield farming - Why most users fail

🎭NFT Roundup

🔗Read the full article at thedefiant.io🔗

🎙️ Onyx's Tyrone Lobban Takes Us Behind the Scenes of JP Morgan's First DeFi Trade

So you are Head of Blockchain at JP Morgan's Onyx business unit. What exactly does Onyx do?

🌪 Solana Endures ‘Crucible’ as FTX Connection Deletes 70% of TVL

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FTX Crisis

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FTX Crisis: Solana

🌪 Solana Endures ‘Crucible’ as FTX Connection Deletes 70% of TVL

Fall of SBF’s Empire Rocks Layer 1 As It Was Rebounding From Tough Year

FTX Crisis: Alameda

💰 FTX Leadership Borrowed Over $1B From Alameda

Incoming CEO John Ray Cites ‘Complete Absence of Trustworthy Financial Information’

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FTX Crisis: DeFi Impact

🏝 DeFi Users Jump But Boom is a Mirage: Chainalysis

Data Shows Activity Spike Came from Existing Users and MEV Bot

FTX Crisis: SBF