Sunday, June 13th, 2021
Mark Cuban gets it
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:
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.
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.
The Meebits community has banded together to form a DAO (Decentralized Autonomous Organization). The DAO has already purchased land in SomniumSpace and The Sandbox, and is working on Cryptovoxels and Decentraland HQs as well.
Elon says Tesla will resume accepting Bitcoin once more eco-friendly mining practices are the standard.
That’s all for today.