March 31, 2022 / Unchained Day to day / Laura Shin

Day to day Bits ✍️✍️✍️

Sky Mavis mentioned it’s committed to reimbursing avid gamers struggling from Tuesday’s $625 million hack of Ronin bridge.
AAVE is up virtually 100% since its V3 replace.
MetaMask now has Apple Pay make stronger.
Robinhood’s crypto lead is leaving to begin a crypto company.
Crypto sellers are sitting on the sidelines while Terra stacks sats.
An Azuki NFT supplied for $1.4 million.
CowSwap carried out an airdrop price about $100 million.
The EU will delivery up negotiations on its Markets in Crypto Belongings (MiCA) rules equipment as of late.
Solana is skyrocketing in the wake of OpenSea’s announcement that Solana make stronger will originate in April.

This day in Crypto Adoption…

Visa launched a one-year NFT immersion program.
Lionel Messi signed a $20 million sort out Socios, a fan token platform.

The $$$ Nook…

LayerZero raised $135 million at a $1 billion valuation.
Wrong River Bank (disclosure: a novel sponsor of Unchained) raised $620 million at an undisclosed valuation.
Helium Inc, the foundation behind Helium blockchain, rebranded to Nova Labs and supplied a $200 million Series D valuing the company at $1.2 billion.
Gumi Cryptos Capital launched a fund to support 50 web3 startups.

What Pause You Meme?

What’s Poppin’?

Token Runnings

By Brand Murdock

By now, you’ve potentially heard of play-to-manufacture.

What if I told you that now you can perchance perchance presumably experience to manufacture?

STEPN, a web3 fitness app on Solana, is taking on the metaverse. Its native token, GMT, is up 20% over the final 24 hours, cementing its spot as a $1 billion market cap protocol.

GMT, which launched this month, has jumped 1,158% since inception and 289% in the final 14 days. Out of the dwell 100 tokens by market cap, GMT is the correct performer of 2022 by pretty a stretch (WAVES is in 2nd spot at 258% YTD).

The premise of STEPN is understated. It’s miles in level of truth a Fitbit app with an NFT integration and tokenomics which will likely be very linked to Axie Infinity.

Customers aquire STEPN NFTs and manufacture Inexperienced Satoshi Tokens (GST) by walking, jogging, or running. As soon as leveled up, customers can delivery up to manufacture GMT, the governance token of STEPN. (Humorously, to discontinue sure tomfoolery, STEPN has a “moonwalking” draw that stops the circulate of tokens if the app tracks odd actions cherish, for example, “the employ of an digital scooter or strap phone on their dog,” as STEPN’s whitepaper outlines.)

On the opposite hand, actual as Axie Infinity has confronted backlash for its excessive-designate entry level, STEPN will likely be pretty costly for tag spanking novel market entrants. The cheapest sneaker NFT, which is needed to begin up running or walking to manufacture, is 9.1 SOL (well over $1,000).

As emphasized by GMT’s designate circulate, STEPN has been on fire (it has over 100,000 downloads on Google Play and 100,000 Twitter followers). Furthermore, a March twenty ninth Twitter put up stirred pretty rather of passion on Crypto Twitter that hinted at partnerships with Nike, Binance, and Asics, if the emblems realized inner the graphic might perchance perchance perchance be depended on.

In point of fact handy Reads

Cooper Turley on tune NFTs:

Lyn Alden on TVL:

BitMEX on The Cryptopians:

On The Pod…

Pause Kwon Is Backing UST With Bitcoin – And Right here’s What Else He Is Constructing

Pause Kwon is the CEO of Terraform Labs and a director at Luna Foundation Guard. On Unchained, he explains why LFG is spearheading a conception to partially relief Terra’s $15 billion stablecoin UST with Bitcoin. He also dives into every other challenge idea that might perchance perchance perchance became developer salaries into financial sources that, to this point as I’m in a position to repeat, he has not yet spoken about publicly.

Section 1: The entire lot you’ve gotten to be taught about Terra, UST, and BTC.

how Terra works and why Pause thinks UST will soon be the third-biggest stablecoin
why Pause and LFG decided to support UST with bitcoin
why Pause thinks LUNA’s designate will continue to take care of no subject UST’s novel dependence on bitcoin
how UST might perchance perchance procure if the price of a bitcoin had been to break
why diversifying UST with one device of types of collateral might perchance perchance abet Terra politically
how LFG plans to employ bridges, natty contracts, and an AMM reserve pool to staunch its bitcoin
why Pause thinks Terra is now a Layer 2 challenge for Bitcoin
who is deciding to amass bitcoin and who determines what one device of sources to amass as collateral for UST
how a bitcoin reserve pool would abet UST not de-peg from the greenback
whether or not Pause thinks Anchor’s 19%+ yield is sustainable and why Anchor is transferring to 1 device of chains

Section 2: Pause, the self-described “toymaker” of DeFi.

why Pause is creating a fungible labor market
how developer working hours might perchance perchance became a token traded on an AMM and at possibility of take hang of out loans
why Pause thinks developer salaries in crypto might perchance perchance have confidence to level-headed be cyclical
how on-chain identification and history shall be linked to credit rankings
why Pause is a non-public fan of Thorchain – but is reticent to employ it as a bridge for LFG
why Pause is attracted to Prism Protocol
what Pause thinks the impact of a professional-crypto president might perchance perchance have confidence on South Korea

Ebook Exchange

My book, The Cryptopians: Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze, which is all about Ethereum and the 2017 ICO mania, is now accessible!

You would have it right here: http://bit.ly/cryptopians