WolfDAO Newsletter - #32
Earn up to ~46% APY with CRV on Polygon! Read more about AssetMantle Mainnet Launch, Bitcoin and Ethereum Slump, STEPN, and other protocol happenings.
Earn up to ~46% APY with CRV on Polygon
Before, users with lesser funds could not participate in the curve wars due to the high cost of transactions on Ethereum for claiming cvxCRV staking rewards. The strategy will help to outperform both CRV and cvxCRV staking using CRV (~46%) as the principal asset on Polygon.
Create a vault on QiDao with CRV, borrow MAI worth 50% of the $value of your CRV collateral, and Sell 33% of the MAI for USDC using 1inch. Make sure to sell 33% as the current ratio of MAI:USDC in the LP is 2:1. Go to Arrakis Finance, find the MAI-USDC pool, select the Deposit and Stake option, Approve MAI and USDC, and select the max option for MAI and deposit and stake.
Despite Curve, QiDAO, and 1Inch 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
AssetMantle is LIVE on the Internet!
The team at AssetMantle has finally announced the launch of the long-awaited Mantle Mainnet. AssetMantle is an Interoperability Middleware for building a decentralized infrastructure for but not limited to the creator economy. The platform is a set of standardized tools and specifications used to model Exchanges and Marketplaces by tokenizing, trading, and financing against real-world financial assets.
AssetMantle boasts several exclusive features:
Native interoperability between all applications participating sovereignly in the ecosystem.
The applications are also interoperable across different protocols/platforms.
Singular representation of data, i.e., each object is allowed to exist only once in the whole ecosystem.
Flexibility in transaction validation privacy level, covering the whole spectrum from open public validation to permissioned private validation.
Privacy-preserving transaction validation allows interoperability between publicly and privately validated dApps.
Interchain NFT Transfers, Multi-Wallet Support / Wallet Agnosticism, Customize NFT Metadata, Reduced Load on Interchain Protocol, and Privacy Protection.
AssetMantle also provides a powerful array of NFT creator tools, including simple, efficient, minting, and custom storefronts via the MantlePlace. Visit AssetMantle by clicking here.
STEPN (GMT)
STEPN is a web3 lifestyle app that promotes socializing and assisting users in living a healthy life. It is designed with features like SocialFi and GameFi. It has efficiently upgraded an old concept of exercising to move-to-earn, which is becoming popular in the blockchain industry.
Find Satoshi lab is a fintech studio based in Australia that created this platform. The company is known for several contributions in the past, including its dominance as the top team in the 2021 Solana Ignition Hackathon Gaming Track. Recently the price of the GMT token soared more than 2000%, making it one of the top-performing web3 crypto tokens of 2022.
STEPN has several unique features, such as
Burn Mechanism: The tokens being available in a limited supply has made the requirement of a burn mechanism necessary to facilitate more and more users to lead a healthy life. This process reduces the circulation of both the GMT and GST tokens through various in-app activities.
Dual Token Model: The STEPN ecosystem runs on a dual-token economy model mainly due to the need for fundraising and utility. In this case, two tokens are available for users to earn through different methods.
GMT and GST: GMT is the native token behind the STEPN project and offers a limited supply of six billion tokens. Green Satoshi Token is an in-game utility token used to purchase goods in the app.
Bitcoin slumps below $40,000, Ethereum Falls Under $3,000 Yet Again
The two most popular cryptocurrencies, Bitcoin and Ethereum, dropped below $40,000 and $3,000 on April 18, 2022. Currently, they are trading at $42,060 and $3,145, respectively. In the last week, both cryptocurrencies have fallen by almost 8%. The price drop is a clear indication of the mining industry, which has experienced several developments that may have put further pressure on prices.
The broader crypto market has long been trending in the wrong direction. Last week, the crypto market fell by almost 10%, and the total crypto market cap fell to $1.84 trillion. Traditional stock markets have also struggled as the S&P 500 was down nearly 2%. Previous research has shown that the crypto market—especially Bitcoin—follows traditional equities. According to Arcane Research, Bitcoin’s price correlated with the S&P last month more than ever since October 2020.
NBA Announces 'Dynamic' Ethereum NFTs for Playoffs
On April 20, the National Basketball Association will begin minting its upcoming Ethereum NFT collection of 18,000 assets called 'The Association.' There will be 75 NFTs of each player from the 16 different NBA teams participating. NFT traits will evolve throughout the playoffs based on each player's real-life performance, meaning that a certain number of dunks, blocks, three-pointers, rebounds, or assists will change that player's image.
First Bitcoin and Ethereum ETFs to Debut in Australia
Australians will soon join Canadians in gaining direct access to Bitcoin and Ethereum ETFs. Australian asset management firm ETF Securities and Switzerland-based ETF issuer 21Shares announced today the launch of two ETFs on April 27. The ETFS 21Shares Bitcoin ETF and ETFS 21Shares Ethereum ETF will track the price of BTC and ETH, respectively, in Australian dollars and trade on the Chicago-based CBOE Exchange.
Beanstalk Hacked for $182 Million
A hacker used a flash attack to take $182 million in Ethereum, BEAN stablecoin, and other assets from the Beanstalk stablecoin protocol over the weekend. The hack is considered the fourth-largest decentralized finance (DeFi) exploit. The hacker used a flash loan, which allows people to borrow an asset to make a quick trade and then repay the asset—all in just one complex transaction that involves multiple protocols.
Kevin Rose's Moonbirds Ethereum NFT Launch Generates $280M in Two Days
Tech Entrepreneur and Venture Capitalist Kevin Rose's PROOF Collective launched on April 16 and garnered $280 million in sales. Moonbirds is an Ethereum profile picture collection that spans 10,000 total images, each with randomly distributed features akin to projects like CryptoPunks and the Bored Ape Yacht Club. PROOF Collective ultimately released 7,875 of the NFTs for sale via an allowlist formed via a raffle process.
Tornado Cash Uses Chainalysis to Block Sanctioned Wallets
Tornado Cas is a coin mixing tool for the Ethereum blockchain. On April 16, it said that they use a tool from blockchain tracking firm Chainalysis to prevent addresses sanctioned by the U.S. government from using the privacy app. "Maintaining financial privacy is essential to preserving our freedom, however, it should not come at the cost of non-compliance," the firm wrote.
US Treasury Connects North Korean Hackers to $622M Axie Infinity Exploit
North Korean hacking group Lazarus is allegedly responsible for last month's $622 million hack of Ronin Network, an Ethereum sidechain used by the play-to-earn crypto game Axie Infinity. The United States Department of the Treasury announced that it added a new Ethereum wallet address to its sanctions list for the Lazarus Group.