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🦄 The Story of Ethereum to Become a Movie and NFT Collection
Hello Defiers! Here’s what we are covering today,
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NEWS “The Infinite Machine: How an Army of Crypto Hackers is Building the Next Internet with Ethereum,” the hit book by Camila Russo detailing the history of Ethereum, is about to be made into a movie with its own NFT-driven community.
NFTs “The Infinite Machine” has become the go-to reference for anyone wanting to understand the history of Ethereum, selling out at least twice on Amazon. The Infinite Machine movie aims to be the first mainstream feature-length film about crypto, leveraging Ethereum technology and NFTs to fund its production and turn its audience into a community.
SUBSCRIBERS The sale of the collection will take place on the Ethereum network in the following weeks. Those who participated in Russo’s proof-of-pre-order campaign for the book and subscribers of The Defiant will be eligible for special perks in the sale. Join the project’s Discord and follow it on Twitter for the latest updates.
PRODUCTION The movie will be produced by Alejandro Miranda of Versus Entertainment, a Spanish audiovisual production and distribution company, and a US-based production company to be announced. Camila Russo, the book’s author and founder of DeFi content platform The Defiant, and Francisco Gordillo, co-founder of crypto hedge fund Avenue Investment, are executive producers.
CREEPING UP Transaction fees are a touchy subject in crypto. First there was Ethereum, with simple trades on Uniswap going for over $100, as of Nov. 23, according to Etherscan. Now, in the wake of a weekend Twitter war in which transaction fees played a central role, users are reporting on the social network that fees on Avalanche, another Layer 1, are creeping up as well.
SCREENSHOT “Avalanche transaction fees for swaps up to $20 tonight,” tweeted Eric Conner, co-founder of EthHub, the Ethereum information resource. Conner’s screenshot shows a transaction interacting with the router contract of Trader Joe, the decentralized exchange (DEX) on Avalanche.
FEES Fees for the contract have declined since then — they’re hovering in the $1.50 range as of Nov. 23, though swaps with transaction fees as high as $5 have occasionally appeared throughout the day.
REFUNDING FUNDS ConsitutionDAO, the group that fell short in its bid to purchase the first edition copy of the U.S. Constitution, has announced that it will dissolve and return all funds to contributors. Now comes the thornier issue of refunding funds minus Ethereum gas fees.
HISTORIC DOCUMENT Following days of deliberating its next move, ConstitutionDAO announced it will shut down on Nov. 23 one day after its refund portal went live. The DAO broke fundraising records and attracted mainstream media attention in its quest to buy the sole remaining privately owned copy of the historic document.
IMPOSSIBLE TIMELINE “This project was a landmark event,” ConstitutionDAO posted to Twitter. We made history and showed the entire world that a group of internet friends can use the power of web3 to face a seemingly insurmountable goal and achieve incredible results on an impossible timeline.”
Fintech Meetup: DeFi x TradFi x 30,000+ Online Speed Date Meetings! Join the next big event in Fintech and for the easiest way to create DeFi & Crypto opportunities, deals and partnerships.. Don’t wait to get your ticket--prices go up on Friday!
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🔗 Senate Banking Panel Head Seeks Added Information About Stablecoins From Issuers, Exchanges: CoinDesk
The head of the powerful U.S. Senate banking committee sent letters on Tuesday to stablecoin issuers and exchanges seeking information on how companies are protecting consumers and investors amid the risks highlighted in the recent report by the President’s Working Group on Financial Markets.
There’s a joke on crypto Twitter along the lines of “GM to everyone except those that dumped crypto,” with GM standing for “Good Morning” — a tongue-in-cheek comment poking fun of those who left the game too soon.
We’re excited to announce that the Ronin Chain has integrated with Covalent, allowing developers way more velocity to access best-in-class data to build dApps.
The Road might go “ever on and on” for Bilbo Baggins, but it has come to a sharp end for the developer of a cryptocurrency called JRR Token, after the estate of JRR Tolkien took legal action to block it.
Balancer Protocol’s flexibility presents the opportunity for liquidity providers to generate substantial swap fee revenue using uncorrelated, highly volatile assets.
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Wolf Game NFTs Spark Frenzy with Sales of $52M in Five Days There’s a new game in town. Wolf Game, a new play-to-earn concept that brings together NFTs and DeFi on the Ethereum blockchain, has taken crypto by storm and players can’t get enough.
Acala Network Wins Polkadot’s Parachain Slot as Auction Shifts to Next Phase Acala Network secured Polkadot’s first parachain slot on Nov. 18, winning the auction with a bid of 32M DOT (worth roughly $1.3B at the time) that was supported by more than 81,000 unique addresses. Acala Network is now slated to go live alongside the next four parachain auction winners in mid-December.
Doomsday Scenarios in DeFi Revolve Around Stablecoins USDC and USDT If decentralized finance were a character in a fable, we could imagine it as a rebel warrior taking on the world — traditional finance in particular. Then we can think about that rebel’s different body parts as composed of the industry’s best projects so far.
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🧑💻 ✍️ Stories in The Defiant are written by Brady Dale, Owen Fernau, Samuel Haig, DeFiDad, and yyctrader, and edited by Edward Robinson, yyctrader, Bailey Reutzel, and Camila Russo. Videos are produced by Robin Schmidt, Alp Gasimov and Daniel Flynn. Podcast is led by Camila, edited by Alp.
The Defiant is a daily newsletter focusing on decentralized finance, a new financial system that’s being built on top of open blockchains. The space is evolving at breakneck speed and revolutionizing tech and money. Sign up to learn more and keep up on the latest, most interesting developments. Subscribers get full access, while free signups get only part of the content. Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button above ($15/mo, $150/yr).