The Last 168 Hours in DeFi
Sell in May, walk away?
ALPHA:
Solunea, a ve(3,3) DEX on zKsync launches today. It has been flying under the radar amongst the other zKsync DEXs like Dracula, Zolidly, Merlin, and eZKalibur and is likely to perform the best in my opinion!
They launched a functioning DApp before the token alongside a pre-farming campaign. Traders will be airdropped SLNA retroactively on May 1 for swaps and liquidity they provided. This early campaign ensures the protocol works and can be trusted. They have also been very transparent with their code.
Most interestingly, the token emissions are dynamic based on how much of the supply gets locked each epoch. Bigger locks lead to lower emissions. In addition, locks increase LP emission bonuses, up to 2.5X! I have participated in early farming, a presale, and will be locking my portion of tokens to earn higher yield.
ACE’S TAKE:
Bear markets can be hard to stomach for first crypto cycle investors. When I’m feeling discouraged, I focus on the fundamentals. My favorite website is ultra sounds money where you can view the number of $ETH burned over time. Ethereum has become a deflationary asset since EIP-1559 was implemented last summer, meaning the number of transaction fees burned exceed new tokens emitted. In a bull market, this will hyper-accelerate.
MARKET:
While the US treasury continues to emphasize the banking system strength, First Republic appears to be on the brink of collapse. Equities have pulled back in April, however, both MSFT and GOOG showed very strong earnings giving the market a boost today.
Bitcoin could not break $30,500 and retraced -13%, but is showing strength again. We’ll watch for the old adage of ‘Sell in May, walk away’ next week.
NEWS:
Do Kwon had a Trezor crypto wallet stuff up his …
Tornado Cash software developer released from Dutch police custody:
Visa ramping up stablecoin payments product development:
No deal for Voyager:
NFTs:
NFTs are in a wicked bear market:
REGULATORY:
Coinbase still trying to push for regulatory clarity despite Gary Gensler’s hostility:
RUGS:
POD O’ THE WEEK:
Vance recaps his trip to Japan and Korea:
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None of this is financial advice