WolfDAO Newsletter - #28
Vector Finance allows you to Farm up to ~232% APY! Read more about Waves, NFTs to Instagram, Magic Eden, ConsenSys, FreedomFi, and other protocol happenings.
Vector Finance allows you to Farm up to ~232% APY!
Vector Finance is a Platypus Finance yield optimizer operating on the Avalanche network. It offers an opportunity to stake PTP (Platypus' native token) for a higher yield than the Platypus website. Vector Finance provides this by offering its governance token VTX as an additional incentive. For this newsletter, we will be focusing on Vector's xPTP-PTP LP Vault. Bridge AVAX and USDC token via the Avalanche Network Bridge and add AVAX to your browser wallet. Go to the Trader Joe website to acquire PTP, head to the Vector Finance staking page, and convert your PTP.
Approve the transaction and finally convert the PTP to xPTP on Vector Website. Head over to the Trader Joe Pool section, search "xPTP-PTP," type the amount, approve the transaction, and click on supply to receive JLP tokens. Go back to the Vector Finance staking page, select the xPTP-PTP pool, input the desired amount, and deposit the token. You can then start claiming VTX tokens.
Despite Vector Finance 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
Waves (WAVES)
Waves is a community-based stack of decentralized open-source technologies to build scalable, user-friendly apps. It is a multi-purpose blockchain platform that supports various use cases, including decentralized applications (DApps) and smart contracts.
Waves was launched in June 2016 and initially planned to improve the first blockchain platforms by increasing speed, utility, and user-friendliness. The platform has undergone various changes and added new spin-off features to build on its original design. The platform has its native token WAVES for use inside the ecosystem.
As one of the first offerings in its field, Waves set out to improve on the early blockchain platforms and products. It aimed to appeal to prospective business clients looking to use blockchain to improve processes or create new services from the outset.
Waves supported smart contract and DApp development, ensuring that speeds and ease-of-use surpassed competition at the time. Since then, other products have appeared, including Gravity, a cross-chain and oracle network, and decentralized finance (DeFi) focused platform Neutrino.
Mark Zuckerberg confirms NFTs coming to Instagram
CEO of Instagram's parent company Meta confirmed that NFTs would be coming to the picture and video sharing app. Zuckerberg hinted at the SXSW conference but did not provide a specific date for when NFTs might drop on Instagram.
The news regarding Instagram has been swirling for months, with many predicting users will be able to mint new NFTs on Instagram and share those already in their collection. In a speech, Zuckerberg said the team is planning to bring a different experience to users that will allow people to mint the clothes of their digital avatars.
The inclination of Meta's CEO has been evident for a long time as in 2019; the CEO infamously tried to launch a digital currency called Libra. However, the efforts went into a drain as it faced a lot of political and regulatory blowback.
However, the investors have reacted poorly to the news of Facebook's rebrand and pivot to the metaverse. Since the announcement, Meta's shares have tanked more than 20%.
Magic Eden Raises Paradigm-Led $27M Series A
Magic Eden (Solana NFT Marketplace) is gaining steam on the Solana blockchain. The platform announced that it had raised $27 million to expand its ambitions. The Series A round was led by Paradigm, with participation from Sequoia, Solana Ventures, Greylock, Kindred, Electric, and Variant. Magic Eden is bullish in the upcoming quarters as it plans to hire more employees, explore partnerships, build out its gaming vertical, and develop a full-service mobile app for buying and selling NFTs.
ConsenSys Raises $450 Million and stands at $7 Billion Valuation
ConsenSys (Ethereum software company) has successfully raised $450 million in Series D round led by ParaFi Capital and a host of other prominent names, including Microsoft and Softbank. With the current round, the valuation of ConsenSys stands at more than $7 Billion. According to founder and CEO Joe Lubin, ConsenSys will use the funding to build out further MetaMask and Infura and other Ethereum software tools it supports.
Samsung, Qualcomm Back FreedomFi, Helium's 5G Crypto Network Partner
Helium is taking a long flight in building a decentralized wireless network to power the Internet of Things (IoT), with over 640,000 active nodes earning tokens worldwide. It is now expanding into 5G connectivity—and its partner FreedomFi has just added allies like tech giants Samsung and Qualcomm in a new funding round. In an announcement, FreedomFi said it had raised $9.5 million in Series A round to continue building its decentralized 5G network alongside Helium.
After crossing 30 Million Users, MetaMask plans to launch DAO and Token
Ethereum wallet MetaMask has gained more than 30 M users after reflecting a 42% increase in the last four months. MetaMask is a popular tool millions use to navigate Web3. The CEO of ConsenSys says an upcoming DAO will help fund new pieces of MetaMask. According to ConsenSys CEO Joe Lubin, MetaMask is pursuing "progressive decentralization" while prioritizing security and improving an interface that some regard as clunky.
American Express Files Trademark Applications for Metaverse and NFT Logos
American Express, the world's second-largest payments processor, has filed seven trademark applications linked to virtual services and its iconic Centurion logo, joining financial peers JP Morgan, Visa, and Mastercard in exploring Web3 applications of its IP. U.S. Patent and Trademark Office filings dated March 9 hint at how American Express may develop its footprint in the metaverse, a future vision of the Internet that could be more immersive by using virtual reality (VR) and augmented reality (AR) headsets.
YouTuber Dr Disrespect Launches Gaming NFTs on Polygon
YouTuber and "Call of Duty" streamer Dr Disrespect launched his game development studio Midnight Society back in December. The brand is releasing 10,000 "Founders Access" NFTs for early community members on the Polygon blockchain that will cost $50 each. Dr Disrespect's NFT announcement comes after the creator tweeted that he has resolved his legal dispute with Twitch and is "moving on" after being indefinitely banned from the live-streaming platform in the summer of 2020.
