WolfDAO Newsletter - #26
Netswap allows you to Farm up to ~150% APY! Read more about exit of key personnel from Fantom, Unstoppable Domains, Immutable, BAYC, UnicornDAO, and other protocol happenings.
Netswap allows you to Farm up to ~150% APY!
Fork of Uniswap V2, Netswap is a decentralized exchange that operates on the Metis Andromeda network. The exchange provides traders with low-cost transactions and emphasizes community-driven development through its NETT token. Netswap's Weth/NETT pool is highly incentivized, providing lucrative returns to users. To join Netswap's WETH-NETT LP Vault, users need to bridge METIS using the official Metis Bridge. Connect Metis to your browser wallet, go to Netswap's Swap page to acquire your desired amount of WETH and NETT liquidity, add liquidity through WETH-NETT pair and you'll receive NLP tokens, approve the transaction and input the amount. You will now start accruing NETT and METIS rewards.
Despite Neyswap being audited, the yield farm has market risks, impermanent loss (IL) risks, smart contract risks, and more. We advise only to invest the amount that you can afford to lose.
Fantom had a Drastic Fall just after the Exit of Key Personnel
After two high-profile employees, Anton Nell (a senior solutions architect) and Andre Cronje (a prolific developer), left without any clue, Fantom's (FTM) price decreased 22% by reaching $1.32 per coin. The cryptocurrency has witnessed a sharp decline in the past few days and is about 60% down from its peak.
Some industry experts expressed their views on the exit of central employees. Raj A Kapoor, the founder of India Blockchain Alliance, said, "the price fluctuation is a response to the news reiterates just how critical an individual can be to a crypto's value." Edul Patel, CEO and Co-founder of Mudrex believes that Cronje's exit might influence DeFi space. "We'll see sell-off initially, but it should be temporary," he said with confidence.
The exit also impacted Fantom ecosystem's tokens, including SpookySwap (BOO), LiquidDriver(LQDR ), Geist Finance, Tomb, as the four of them saw prices fall up to 20%. The volume of Fantom tokens has skyrocketed, more than doubling over the last 24 hours.
Amid International Women's Day, Unstoppable Domains Plan to Give $10M in Domains.
Unstoppable Domains came up with a unique way to support women in Web3 by setting aside $10 million in Web3 domain names for its "Unstoppable Women of Web3" initiative. Till now, more than 60 prominent companies have signed a pledge to feature work created by historically marginalized groups in at least half of all materials for Web3 education. Companies include Google Cloud, OpenSea, Gemini, Binance U.S., Consensys, Polygon, BlockFi, Decentraland, Blockchain.com, Bitstamp, Ripple, and The Sandbox.
Immutable stands tall at $2.5 Billion after Raising $200M
After raising money from Series C funding round, Immutable stands at a valuation of $2.5 billion. The investment round was led by Temasek and witnessed the participation of Tencent and Animoca Brands. Immutable is an Ethereum L2 scaling solution designed for games and NFTs. Immutable X is the brainchild of Immutable that helps to facilitate transactions at a much cheaper rate. It uses StarkWare's StarkEx zero-knowledge proof technology to roll up thousands of transactions on its network.
Bain Capital Ventures Launches $560 Million Crypto Fund
Bain Capital Ventures, an investment firm, is launching a $560 million fund called Bain Capital Crypto that will focus on the crypto industry. Stefan Cohen, a Capital Crypto managing partner, said, "We've become quite high conviction we are at the beginning of a multi-decade technology shift. We really needed a dedicated team and a dedicated fund structure. That's really what led to the addition of Bain Capital Crypto."
U.S. SEC Charges' Snake-Oil Salesmen' Siblings With $124M Crypto Fraud
The U.S. Securities and Exchange Commission hit "modern-day snake-oil salesmen" siblings $124 million. The SEC alleged that John and JonAtina (Tina) Barksdale conned thousands of investors with their digital token Ormeus Coin. The siblings promoted the coin via YouTube and roadshows and traded on HitBTC, PancakeSwap, Uniswap, etc.
To Support Women and LGBTQ+ Artists, Pussy Riot Co-founder Launches DAO
Nadya Tolokonnikova, co-founder of Pussy Riot, announced the launch of UnicornDAO for a feminist movement aiming to tackle patriarchy in Web3. The DAO plans to invest in female, non-binary, and LGBTQ+ artists in Web3. The co-founder has also formed UkraineDAO, which raised $6.75 million in Ethereum in five days with the sale of an NFT. While UkraineDAO aimed to support Ukraine in its fight against Russia, UnicornDAO has an entirely different purpose.
Popular NFT Collection - Bored Ape Yacht Club Donates $1 Million to Ukraine
The Bored Ape Yacht Club (BAYC) NFT collection donated $1 million to the country of Ethereum address of Ukraine. The Twitter account of BAYC shared the information along with an Etherscan transaction link showing that it sent 388.999 ETH after being inspired by its community members' contributions. Currently, the BAYC is the second-largest NFT collection of all time based on marketplace OpenSea's rankings, having registered over 417,000 ETH in secondary sales.