Daily Recap

Sunday, June 13th, 2021

Jun 14, 2021

Crypto Businesses make more sense than you think and valuing tokens is easier and makes more sense than you think . They are just businesses like any other , with a few HUGE advantages. My blog post on the matter

Mark Cuban @mcuban

https://t.co/7DOICRo3wn

In a detailed blog post, Mark Cuban breaks down yield farming, advantages of building on blockchains, and his stance on Polygon. He even confirms that he’s providing liquidity on Quickswap (a decentralized exchange/Uniswap “fork” on Polygon).

Ethereum gas fees reach 1 year low

With gas hovering between 5-10 GWEI (gigawei), Ethereum is once again usable for the average market participant. Fees have been reduced in part by flashbots, and in part by increased traffic migrating to other chains (predominantly Polygon). Soon, low gas fees on Ethereum Layer 1 will hopefully become sustainable as Ethereum Layer 2 solutions (Arbitrum first, Optimistic Rollups later this summer) are deployed for public use.

Below is a thread from crypto VC Nick Chong summarizing the last year in Ethereum:

Nick Chong @n2ckchong

The last time Ethereum gas was this low—as far as I remember—was the start of 2020, around the time of the initial launch of Aave. A lot has changed in that time for Ethereum and DeFi. Let's recap. A 🧵

Yearn Finance reaches $5B TVL (total value locked)

Yearn vaults are capital pools designed around risk-adjusted strategies to provide competitive passive yield for users.

In short: deposit your crypto asset of choice into its designated “vault” and let the vault do the work. Set, forget, and accrue interest.

yearn.finance @iearnfinance

We are thrilled to announce that Yearn has just surpassed $5 billion in assets across all products. We would to thank all users, contributors, and members of our ecosystem for their continued support.

MeebitsDAO launch

Meebits, a project by LarvaLabs (creators of CryptoPunks), has been a controversial project. The voxel-style characters were sold as NFTs, and came with downloadable 3D files that owners can use to import their Meebits into various Metaverses. While some still see Meebits as a lame cash grab for LarvaLabs (20,000 Meebits was sold at 2.5 ETH), many see Meebits as a historic project - they’re the first NFT project that was specifically designed to be used as your avatar across all of the metaverses.