🧪Terraform Labs Revival Plan - TWJ #144
Yes, the saga still continues.
In today’s issue:
The crypto market is slightly up with the total market cap sitting at ~$1.3-1.4 trillion. Osmosis (OSMO) is the worst performer in the top 100 in the past 7-d (excluding UST). Global markets are still on the edge as US futures declined and Lloyd Blankfein warned the street of a potential recession.
In other news, Do Kwon pitches Terra's revival plan, CZ comments on Terra's fork idea, and Elwood Technologies receives investments from Goldman & Barclays.
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
⎆Do Kwon Pitches Terra Revival Plan
Do Kwon has broken the silence and proposed a revival plan on the Terra forum. The plan was seen by more than 200,000 people and revolves around the following:
⎆CZ Comments on Terra’s Fork Idea
The founder of the world’s largest crypto exchange, CZ of Binance, has stated that he thinks the Terra survival plan, which includes a fork, won’t work. CZ has also previously stated that he was disappointed with how the Terraform Labs team handles the de-pegging event.
⎆Elwood Technologies Receives Investments From Goldman & Barclays
Elwood technologies, the crypto firm by Alan Howard reached a $500M valuation after its latest $70M funding round with participation from Goldman Sachs and Barclays. Galaxy Digital, BlockFi, Flow Traders, and DCG also participated in the latest round.
Institutional involvement with the crypto-asset market will only continue to increase despite the ongoing bear market. For those who were around from 2018 to 2020, many realize that the foundations that enabled the 2021 bull run were worked on during the quiet times.
👨🏻💻Decentralized Finance (DeFi)
Frax Boosted Staking is Live
Synthetix New Liquidation Mechanism
Sushi Live on Optimism
SpiritSwap Compromised
Terra Update
Terra Repayment Proposal
Balancer Potential Exploit
Terra has Resumed Block Production
Yearn x Lido to Create New stETH Vault
Frax Community Approves $100M to the Goldfinch Senior Pool
Zeta Market Introduces Strategy Accounts
LayerZero Partnerships with Swimmer Network
Vitalik and CZ Have Some Thoughts on Terra’s Demise
🏛Governance - Active Proposals
🦮NFT & Metaverse
Square Enix Plans to Issue Tokens and Invest Heavily in WEB3 Gaming
Metaplex Is Solving Solana’s Network-Crashing NFT Botting Problem
NFT Visionaries are Doubling Down on Community Ethos
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
BitCoke - $20M Unknown Round
Fanztar - $645K Seed Round
Solarr - $2M Seed Round
Belo - $3M Seed Round
Element Black - $3.6 M Seed Round
TipTop - $23M Series A
Oasis Pro Markets - $27M Series A
BVNK - $40M Series A
Elwood Technologies - $70M Series A
Token - $40M Series C
BitPoint - $98.6M Acquisition by SBI
⚖️Regulatory Update
South Korean President’s Plan to Raise Crypto Tax
New York Crypto Company CEO Arrested by FBI, Charged with Fraud
Chile's Central Bank Says It Needs More Time to Study CBDCs
Nigeria’s Markets Regulator Publishes Set of Rules for Digital Assets
Indian Central Bank Says Cryptos Could Lead to "Dollarization" of Economy
Central African Bank Regulator Reminds Member States of Crypto Ban
UK Treasury en Route to Legalizing Stablecoins Amid Terra’s Ust Crash
Germany To Not Levy Tax On Crypto Sold After One Year
📚Noteworthy Reads
DeFi Made Here’s Thread on Consequences Outside Terra After Luna Collapse
SBF’s Thread on Not All Bad Things are The Same Bad Thing
Jon’s Read on Left Curve Adoption
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