WolfDAO Newsletter - #17
Farm +70% APR via Synthetix's new L2 pastures! Read more about Waiting Room, Universe DAO, OpenSea Refund, Qubit Finance Hack, and other protocol happenings.
Farm +70% APR via Synthetix's new L2 pastures!
Layer 2 scaling solutions rapidly capture the market as Synthetix has gone all-in on its deployment to Optimism (a powerful Ethereum scaling solution). Synthetix's L2 shift came this week when the protocol unveiled a one-month liquidity mining campaign that will distribute 50k SNX to SNX-WETH liquidity providers (LPs) on Optimism. The process involves using multiple DeFi protocols, bridges, and L2s, which may even result in loss of funds. People investing should research and only then approach.
Source: DeFi Pulse Farmer
Waiting Room - A Decentralised Hiring Platform
Waiting Room is a new decentralized hiring platform that allows community members to express their preferences on individuals they'd want to bring into the community. By supporting a potential contributor using endorsement tokens, a community member can indicate their interest in collaborating with them.
Staked endorsement tokens are non-transferable ERC-20 tokens that signal to other community members to assist them in making better judgments on who to get on board. Invite a contributor to the initiative and assign them a position to onboard them. Terminals can be configured to allow particular roles or persons to welcome new contributors.
An invited contributor is granted the power to mint their NFT with a pre-assigned role. Metadata of the role is saved on-chain and will be used in the future for access restriction, reward systems, and more.
Communities can completely customize the number and titles of positions. The initial version of Station will have a default card aesthetic for one's Contributor Ticket(NFT), as well as the ability to customize the community's logo and role titles. Custom card design is also conceivable at the protocol level, and when it is ready, it will be made available for the early adapter users.
Universe DAO - A permissionless alternative to Opensea
The Universe is an alternative NFT marketplace for Opensea users that will have entirely permission-less contracts that are immutable, implying that the NFTs will be permanent. There will be no restrictions on the number of collections you can establish or the number of NFTs you can mint.
The platform will gradually release more features when implemented, requested, or voted on by the community. By March, the platform informs that all of their minting contracts and the Marketplace will be fully functioning and ready for use at will.
Following the exploit that helped some people buy popular NFTs below the base price, OpenSea has Refunded $1.8M in Ethereum to Users
The #1 NFT marketplace has reimbursed 750 Ethereum to users who accidentally sold valuable NFTs below the floor price. The exploit' inactive listings' helped some people to collect some of the popular NFTs of BAYC.
OpenSea co-founder Alex Atallah said that "fixing this issue is our #1 company priority. We have a team working on it and putting up a countermeasure now."
Visa has confirmed that people are adopting digital asset payments
Visa has given good numbers to the markets as its customers made $2.5 billion in payments using its crypto-linked cards during the first fiscal quarter of 2022. The numbers are clear evidence of how people adopt crypto payments despite a dip in prices. Visa CFO Vasant Prabhu said, "To us, this signals that consumers see the utility in having a Visa card linked to an account at a crypto platform."
Qubit Finance hacked for $80 Million from an exploit to QBridge deposit function
On January 27, 2022, the Qubit protocol faced an $80 million hack because of an exploit to the QBridge deposit function. The process of hack involved 0.8887725 ETH sent from tornado to attacker account. The hacker then sent 16 deposit tx to QBridge of Ethereum and another 16 voteProposal tx to QBridge contract of BSC by Qubit Relayer. Several xETH tokens were minted by 16 voteProposal tx, and liquidity in Qubit was withdrawn using this as collateral.
Bored Ape Yacht Club (BAYC)
BAYC is a collection of 10,000 profile pictures that Yuga Labs developed and minted as NFTs on the Ethereum blockchain. The Bored Ape Yacht Club is not alone on that front; many NFT profile pic (PFP) collections have sprung up late, including World of Women and Cool Cats. But the Bored Apes have found an avid base of collectors, plus there are perks. A Sotheby's auction in September 2021 sold a lot of 101 Bored Ape NFTs for nearly $24.4 million, beating the top-end estimate of $18 million.
Hashflow DEX is now live on @0xPolygon
Hashflow, a DEX that allows its users to trade with No trading fees, zero slippage, and MEV-resistance, is now live on Polygon. The DEX announced that users may now deposit $USDC, $USDT, or $DAI into their new Polygon pool if they have a category 1 NFT or the Hashbot Diwali poster.
01 exchange DEX Now Live On @solana Mainnet
01.xyz is a fully decentralized derivatives exchange and full-service trading platform based on the @projectserum limit orderbook. Traders get the ability to trade perpetual futures, cross-collateralize up to 50 tokens, and cross-margin across 100+ marketplaces. Users can use up to 20x leverage to trade perpetual futures, deposit and earn passive APY, and borrow directly at low variable interest rates.
DeFi Land NFT Seed Sale Alpha
DeFi Land has planned to mint 7500 DeFi Land Seeds to incentivize its users.
On February 8th, 2500 DeFi Land Seed NFTs will drop through the Magic Eden platform. On February 9th, 5000 DeFi Land Seed NFTs will drop through their website. Mint price will be 2 SOL for both sales.
Once one gets the Seed NFTs, they will need to water them using DFL tokens for 30 days. From the plant, 1 to 4 Gen-0 Utility NFTs will be generated, which will consist of various cute animals, fishing rods, hunting guns, and harvesters.