📈Coinbase MakerDAO Proposal - TWJ #224
The move might bring Maker an additional $24M in revenue.
In today’s issue:
The crypto market is down with its total market cap above ~$900 billion. DeFiChain (DFI) has been the worst performer in the top 100 in the past 24-h. Markets are down amidst EU energy crises.
In other news, Coinbase releases MakerDAO proposal, Franklin Templeton launches metaverse ETF, and Russia is working on stablecoin platforms.
We’re continually improving our content, please reach out if you have ideas or want us to recap another market segment.
- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆Coinbase Releases MakerDAO Proposal
Coinbase submitted a proposal to MakerDAO’s governance forum that would transfer 33% of Maker’s $1.6 billion “Peg Stability Module” to a Coinbase custody account. If passed, Maker would be able to make 1.5% APY on its $528M USDC, generating the protocol an additional $24M revenue, but with an increasing centralization risk.
⎆Franklin Templeton Launches Metaverse ETF
Frankling Templeton is launching a Metaverse ETF for EU investors. Named the Franklin Metaverse UCITS ETF, it will include companies that have significant exposure to the metaverse, but do not hold crypto assets directly.
⎆Russia Is Working On Stablecoin Platforms
Russian’s finance ministry stated that it is looking into stablecoins to avoid international payment rails denominated in USD and EUR to reduce dependencies in adversarial countries.
👨🏻💻Decentralized Finance (DeFi)
Ethereum Activates Bellatrix Upgrade
Helium Launches $MOBILE Token
Frax Finance Launches Fraxlend
3AC Removed $33mn of stETH from Curve
BNB Beacon Chain Testnet Gibbs Upgrade
$MYC Lending is Officially Live
StarkNet Alpha 0.10.0 Released to Goerli
Stride Mainnet is now Live
HIVE Blockchain to Explore Mining Ethereum Alternatives
KuCoin Highlights Flaws in DeFi Platform Acala's
🏛Governance - Active Proposals
Compound - Initialize Compound III COMP Distribution
Compound - cETH Risk Mitigation
Compound - Risk Parameter Changes for FEI
Fei - TIP_121a (cont.): Consolidation ops and technical cleanup
Gitcoin - Public Goods Funding S15 Budget Request
🦮NFT & Metaverse
Argentine Freemasons Want to Put NFTs to Philanthropic Work
Reddit NFT Avatars Selling for a Premium on OpenSea
David Bowie Ethereum NFTs Trigger Twitter Backlash
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
21.co - $25M Unknown Round
Fuel Labs - $80M Unknown Round
Credix - $11.25M Series A
PANONY - $100M Valuation Series A
⚖️Regulatory Update
Russia Exploring Stablecoin Settlements With Friendly Nations: Report
Indian Police Arrest Two Suspected of Duping 1,400 in Alleged $12M Crypto Scam
📚Noteworthy Reads
The DeFi Edge’s Thread on 14 Ways to Learn Crypto More Efficiently
Zeneca_33’s Thread on Invaluable Tips for Crypto Hiring
Jason Choi’s Template on Investor Updates
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.