WolfDAO Newsletter - #27
Earn up to +90% APR via Premia's liquidity pools! Read more about Helium, NetWalker Ransomware, Fir Tree Capital Management, and other protocol happenings.
Earn up to +90% APR via Premia's liquidity pools!
Premia is a decentralized options marketplace built on Ethereum that offers pool-to-peer options. The platform's unique style simplifies the trading process for buyers and sellers. It also helps to provide a call pool and a put pool to every Premia asset pair. For the WBTC pair, depositors supply WBTC to the call pool and/or provide DAI to the put pool, for example. The project's first three asset pairs are ETH-DAI, WBTC-DAI, and LINK-DAI. To join the farm, navigate to the dashboard and connect your wallet. Choose from a call pool or a put pool, approve the transaction, and add the money. It will start accruing PREMIA rewards. Currently, DAI deposits to the LINK-DAI put pool are generating +90% APR at the moment.
Despite Premia 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.
Source: DeFi Pulse Farmer
Helium (HNT)
Helium (HNT) is a decentralized blockchain-powered network for the Internet of Things (IoT) devices. It was launched in July 2019 and allowed low-powered wireless devices to communicate and send data across its nodes.
Nodes come in the form of so-called Hotspots, a combination of a wireless gateway and a blockchain mining device. Users who operate nodes thus mine and earn rewards in Helium's native cryptocurrency token, HNT. The project aims to prepare IoT communication for the future, identifying inadequacies in current infrastructure from its birth in 2013.
The project was founded by Amir Haleem, Shawn Fanning, and Sean Carey in 2013. Haleem has an active eSports and game development background. Fanning, by contrast, is well known for developing Napster, the music-sharing service which was one of the first mainstream peer-to-peer (P2P) internet services in the late 1990s.
Helium aims to improve the communication capabilities of wireless Internet of Things (IoT) devices. In 2013, the infrastructure around IoT was still in its infancy, but developers wanted to add decentralization to their offering, hence referring to it as "The People's Network" in official literature.
The projects targets device owners and those interested in the IoT space, with financial incentives providing further outreach possibilities.
Network participants purchase Hotspots — a combination of a wireless gateway and a miner — or build their own. Each hotspot provides network coverage over a certain radius and mines Helium's native token, HNT.
The network runs on proof-of-coverage, a new consensus algorithm based on the HoneyBadger BFT protocol, which allows nodes to reach consensus when connection quality is highly variable. In addition to HNT, users pay transaction fees in a separate token called Data Credits, which are not exchangeable and tied to individual users themselves.
US Authorities Seize $28M in Crypto with relation to NetWalker Ransomware
The US Authorities seized over $28 million worth of cryptocurrency in connection with a former Canadian government employee, Sebastien Vachon-Desjardins. According to DoJ, Vachon-Desjardins has been charged with conspiracy to commit computer fraud and wire fraud, intentional damage to a protected computer, and transmitting a demand concerning damaging a protected computer arising from his alleged participation in Netwalker—a sophisticated form of ransomware.
Fir Tree Capital Management is shorting Tether amid regulatory scrutiny
A $4 Billion Hedge Fund run by Fir Tree Capital Management is shorting Tether as it faces scrutiny from regulators. According to the clients, Fir Tree has constructed a way to short Tether in an asymmetric trade (minimum risk, high returns). The firm plans to generate a profit within 12 months. The firm's concerns center around the stablecoin provider's $24 billion in high-yield commercial paper, which the firm also believes is linked to Chinese real estate developers.
The Acquisition of IP by BAYC helped CryptoPunks Ethereum NFT Sales shoot to 1,200%
The news of Larva Labs selling IP for CryptoPunks to Yuga Labs came as a shock to everyone, with secondary market sales marking a 1,219% increase over the previous 24-hour span. Yuga Labs announced that it would grant IP rights for individual CryptoPunks images to their respective holders, much as it has for its Bored Ape collections. Meebits project IP is also sold to Yuga Labs and saw a 529% increase.
Andreessen, Alexis Ohanian Back $30M Crypto Fund
The $30 Million crypto fund backed by Andreessen Horowitz's Marc Andreessen and Chris Dixon and Reddit and Seven Seven Six Ventures founder Alexis Ohanian plans to invest exclusively in NFTs. Last month alone saw more than $4 billion in NFT sales, according to DappRadar, on top of the $21 billion throughout 2021.
SEC Turns Away Another Set of Spot Market Bitcoin ETFs, Denies NYDIG and Global X
The Securities and Exchange Commission denied another set of spot market Bitcoin ETF applications—this time from investment manager NYDIG and ETF provider Global X. An ETF is a publicly-traded investment product that tracks the value of an underlying asset. A spot market Bitcoin ETF would track the performance of a fund's underlying Bitcoin holdings.