👻Fantom $480 Million Grant Program - TWJ #118
The layer 1 war continues.
In today’s issue:
The crypto market is flat with the total market cap sitting at $2.1-2.2 trillion. STEPN (GMT) continues to lead the top 100 assets by market cap in the past 7-d. Oil hits $100 as the EU is working on additional sanctions for Russia.
In other news, Fantom launches a $480M grant program, Do Kwon introduces UST-FRAX-USDC-USDT Curve 4pool, and the CME considers Solana & Cardano futures.
We’re continually improving our content, please reach out if you have ideas or would like us to recap another segment of the market.
- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆Fantom Launches a $480M Grant Program
The Fantom Foundation introduced a 335M FTM incentive program (approximately $480M as of the time of writing) in partnership with Gitcoin Grants. Fantom’s users will decide on the distribution, with a greater amount of FTM going towards projects that are loved by the users/communities.
⎆UST-FRAX-USDC-USDT Curve 4pool
Together with Frax Finance, Terra Foundation has introduced a new Curve 4pool for UST-FRAX-USDC-UST. This will strengthen FRAX and UST's role in the multi-chain DeFi ecosystem and further cement the rapid growth of fractionally algorithmic stablecoins such as FRAX and UST.
⎆CME Considers Solana & Cardano Futures
After achieving success with BTC and ETH derivatives, the Chicago Mercantile Exchange (CME) is considering the launch of altcoin futures, particularly Solana and Cardano. Payal Shah, CME’s director of equity and cryptocurrency products, stated
that the CME’s existing bitcoin and ether futures depend on indexes based on price feeds from five exchanges. “In terms of the other coins outside bitcoin and ether, we need firstly an index or we need the ability to create an index,”
👨🏻💻Decentralized Finance (DeFi)
Tesla Taps MakerDAO-Powered Lender for $7.8M Real Estate Deal
DeFi Kingdoms Goes Live On Avalanche
Compound Codebase has a Reentrancy Bug
Trisolaris Stable AMM is Live
WAVES Price Situation
Cega Launches on Devnet
Jones DAO Acquired $4M of CVX Tokens
Inverse Finance Exploited for $15.6M
Pickle Finance Introduces Frax Brinery and Pickle Jar
Tezos Deploys Major ‘Tenderbake’ Upgrade
🏛Governance - Active Proposals
Babylon Finance - BIP-15: Referral Program
Compound - Reduce MKR Borrow Limit
Compound - Update Low-TVL cToken Implementations
Dope Wars - DIP-39 Community Team
Uniswap - Polygon 1bp Fee Tier
Unlock - Changes to Governance
🦮NFT & Metaverse
Nansen Now Offers Real-time Arbitrum One Dashboards for NFT Users
Pudgy Penguins NFT Collection Looks to Next Chapter With $2.5M Sale
Azuki Airdrop
Ola Finance $4.7M Exploit
Axie Infinity Delays Launch of ‘Origin’ Game
Citi Sees Metaverse Economy as Large as $13T by 2030
A DAO is Selling NFTs for the Right to Tweet
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Backed - $3.2M Unknown Round
Dank Bank - $4.2M Unknown Round
DFlow - $2M Seed Round
Fractal - $35M Seed Round
Composable Finance - $32M Series A
Fantom Foundation - $480M Grant Program
⚖️Regulatory Update
EU Passes Bill Requiring Crypto Firms to KYC Non-Custodial Wallets
SEC Rejects Spot Bitcoin ETF Application From Ark 21Shares
Indonesia to Charge 0.1% Tax on Crypto Transactions, Investments
Kazakhstan Looks to Bring Crypto Exchanges to Central Asian Financial Hub
India: No Crypto Law Till Global Consensus
📚Noteworthy Reads
0xHamz’s Thread on WAVES is The Biggest Ponzi in Crypto
Lily Francus’s Read on Capital Inefficiency & DeFi Options
Sam Kazemian’s Thread on 4Pool
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.