WolfDAO Newsletter - #31
Farm up to 3347% APY on DeFi Kingdoms' Crystalvale! Read more about Honduras SEZ, Cronos, Market Watch, and other protocol happenings.
Farm up to 3347% APY on DeFi Kingdoms' Crystalvale
DeFi Kingdoms (DFK) is a play-to-earn MMORPG (massively-multiplayer online role-playing game) initially deployed on Harmony (Layer-1 blockchain). DeFi Kingdoms launched the first Avalanche subnet on March 30th, resulting in unprecedented volume levels being bridged.
For farming opportunities, set up DFK Chain on your Metamask, bridge funds to the DFK Chain, swap for JEWEL & xJEWEL, pool your JEWEL and xJEWEL in-game with the Druid and stake your JEWEL-xJEWEL LP tokens at the Seed Box.
Despite DeFi Kingdoms having undergone several audits, the staking opportunity has market risks, impermanent loss (IL) risks, smart contract risks, etc. We advise only to invest the amount that you can afford to lose.
Source: DeFi Pulse Farmer
Honduras SEZ accepts Bitcoin as legal tender
Special Economic Zone (SEZ) officers of a tourist-centric island in Honduras' Caribbean announced on Thursday that they would be adopting the cryptocurrency Bitcoin as legal tender in the area. The SEZ area was established in 2020 to help encourage investment in the area and has administrative, fiscal, and budgetary autonomy. Honduras Prospera covers parts of the picturesque Roatan island and the city of La Ceiba on Honduras' Atlantic Coast.
"Prospera's flexible regulatory framework enables crypto-innovation and the use of Bitcoin by residents, businesses, and governments," Honduras Prospera said in a statement. The economic zone will let municipalities, local governments, and international firms issue bitcoin bonds from the area's jurisdiction.
"Any transaction carried out with this type of virtual asset falls under the responsibility and risk of the person carrying it out," the bank recently said. El Salvador is the neighboring country that adopted bitcoin as legal tender making it the first country to adopt a cryptocurrency as a recognized means of exchange.
Cronos (CRO)
Cronos is an Ethereum compatible blockchain and one of the solutions of Crypto.com designed to accelerate the global adoption of cryptocurrencies. CRO is the native cryptocurrency token of Cronos Chain, a decentralized, open-source blockchain developed by the Crypto.com company. Cronos is built on the Cosmos SDK, utilizing a proof-of-authority (PoA) consensus mechanism.
Cronos chain helps increase personal control over money, safeguarding user data, and protecting users' identities. CRO went live in 2018, and its blockchain serves as a vehicle that powers the Crypto.com Pay mobile payments app.
The Crypto.com company launched Cronos to put cryptocurrency in every wallet. Kris Marszalek, Rafael Melo, Gary Or, and Bobby Bao are known as the founders of crypto.com. The main focus behind developing the CRO blockchain is to provide utility to the users of Crypto.com's payment, trading, and financial services solutions.
The token holders can also stake their coins to act as a validator and earn fees for processing transactions on the network. Users can use CRO tokens to settle transaction fees on the Cronos Chain.
Tough Time for Bitcoin, Ethereum as they Slip to Three-Week Lows
The hopes of continuos rally among the popular cryptocurrency Bitcoin (BTC) during last week's Bitcoin 2022 event in Miami haven't lived up to expectations. On Monday morning, BTC slipped below $42,000 to levels last seen on March 22.
The data from CoinMarketCap shows Bitcoin trading at the $41,200 level on April 11, down more than 2.36% in 24 hours and 9.65% in the last week. The Bitcoin 2022 conference led to several important announcements, including Strike's integration with Shopify and Cash App's direct deposit feature.
The rest of the crypto market has followed suit, with the second-biggest cryptocurrency by market cap, Ethereum (ETH), down 5% on the day, currently changing hands at $3,076. Ethereum's price has slipped by over 11% over the last seven days, with former BitMEX CEO Arthur Hayes predicting that ETH may well test the $2,500 level by the end of June.
Makers of PUBG Series Plan to Make Solana NFT Games
The makers of PUBG (video game) are planning to explore the Web3 gaming space by developing blockchain-based games on Solana. Krafton Inc. announced a long-term agreement with Solana Labs to build, market, and drive NFT games that run on the Solana network.
PUBG: Battlegrounds is the brainchild of Krafton, a famous battle royale shooter franchise that spans multiple platforms. The game has clocked more than a billion downloads and more than $7 billion in revenue via in-game purchases. The studio recently launched a separate, futuristic-themed PUBG mobile title, New State Mobile.
eToro Announces $20 Million Creator Fund for NFTs
The financial trading platform, eToro, announced that it has set aside $20 million to create eToro.art, a new initiative to support upcoming NFT projects and creators—and buy some NFTs. The company also held NFTs from Bored Ape Yacht Club (BAYC), Crypto Punks, Doodles, and World of Women. Anyone can apply to get funding and advice. The platform will offer an open application for any new and aspiring artists to pitch an NFT project.
Com2uS Raises $25 Million in a Token Sale and stands at $500 Million Valuation
Com2uS plans to launch an upcoming C2X blockchain gaming platform that has raised funds via a private token sale and stands at a $500 million valuation. The C2X operator MetaMagnet Ltd. announced that it sold $25 million worth of its token at a $500 Million valuation in a round led by FTX Ventures, Animoca Brands, and Jump Crypto.
Com2uS is building C2X on the Terra blockchain network, currently the seventh-largest cryptocurrency by total market cap. Terra is a part of the Cosmos ecosystem that hosts UST stablecoin. The original contributors and master content providers of the C2X network will be Com2uS and Com2uS Holdings.
Elon Musk is no Longer Joining Twitter Board
According to a statement published by Twitter CEO Parag Agrawal, Tesla CEO Elon Musk will no longer be joining the Board of Twitter. "Elon's appointment to the Board was to become officially effective April 9, but Elon shared that same morning that he will no longer be joining the Board," Agrawal said. Before announcing Musk as Twitter's newest Board member, the Tesla and SpaceX CEO purchased a 9.2% stake in the social media platform.
Bored Ape Yacht Club-Themed Burger Joint Debuts in California
If you own a BAYC NFT, you can use the apes as you wish. In a piece of interesting news, some Bored Ape community members decided to open a popup restaurant based on Bored Ape #6184, and Bored & Hungry was born. In partnership with Houston rapper Bun B's Trill Burgers and Belief Burgers, Bored & Hungry calls itself a "smash burger-themed concept, and customers can buy food using Ethereum or ApeCoin.
Epic Games Raises $2B to 'Build the Metaverse'
The firm behind the smash-hit game Fortnite and the widely-used Unreal Engine, Epic Games, announced that it has raised $2 billion in funding—with ambitions to "build the metaverse." The funding round was split evenly between previous investor Sony and newcomer KIRKBI, the company behind The LEGO Group. Each firm invested $1 billion at a post-money valuation of $31.5 billion.