DAO Citadel V2: -3.37%
DAO Golden Cross: -4.22%
DAO Metaverse: -4.99%
DAO AVAX DEX indexfarm: -5.59%
DAO AVAX Farm: -2.69%
This week’s best-performing assets
Kitty Finance (KITTY): +74.84%
CitaDAO (KNIGHT): +24.64%
Bankless DAO (BANK):+27.28%
InsurAce (INSUR): +26.33%
Umami Finance (UMAMI): +14.73%
Market Insight #1
“By my hand DAI will die.”
The above was Terra’s cofounder Do Kwon’s famous Tweet.
True to his word, on April 1, Do introduced “4pool,” an amalgam of four stablecoins on an automated market maker (AMM), Curve Finance.
The 4pool includes Terra’s UST, Frax Finance’s FRAX, USDT (Tether), and USDC. Users will be able to deposit one of the four stablecoins into the pool to earn a yield as other users trade between the pooled assets.
What does this mean?
Do believes that “the curve wars are over,” while some believe otherwise: “Terra, Frax, and Redacted control a lot of CVX, but they don’t control enough CVX.”
There are others who think that Maker ought to join the Curve War to stake its turf.
The Curve War and Terra’s rivalry against Maker used to be 2 separate issues, but they are now commingled. Where this goes next is anybody’s guess, but whatever happens, is going to be interesting and make DeFi history.
Market Insight #2
Bitcoin Miami Recap
During Bitcoin 2022, U.S. Senator Cynthia Lummis offered details on a bipartisan bill, The Responsible Financial Innovation Act, that she hopes will establish favorable Bitcoin regulation.
Lummis shared that she sees legislators becoming increasingly open to the idea of passing favorable rules catered to Bitcoin that would foster innovation in the country.
Meanwhile, in a panel titled “Overcoming Idea Inertia”, which saw the participation of Andrew Yang, journalist Glenn Greenwald said, “All of my causes of freedom of speech and anti-imperialism fit within Bitcoin.”
“Bitcoin offers the ability to solve so many of those problems which both the left and right should be really excited about.”
- More to read:
SENATOR CYNTHIA LUMMIS OUTLINES FORTHCOMING BIPARTISAN BITCOIN BILL
POLITICAL INERTIA AND BITCOIN WITH ANDREW YANG AND GLENN GREENWALD
Teucrium’s Bitcoin futures ETF sparks spot ETF talk
The fervor surrounding a possible spot Bitcoin ETF approval reignited when the SEC approved the Teucrium Bitcoin Futures Fund.
Unlike the other futures Bitcoin ETFs, the application for this one was filed under the Securities Act of 1933.
The SEC has said that the 1933 act doesn’t offer enough consumer protections in several of its spot Bitcoin ETF denials.
But now that a futures Bitcoin ETF has been approved under it, it appears a major obstacle has been removed.
- More to read:
72% of Financial Advisors Would Invest More in Crypto If Spot ETF Were Available: Nasdaq Survey
Partner’s Update: Genesis NFTs officially sold out & Faction NFTs coming soon!
Our partner Metapoly has sold out all 300 of their NFTs.
The team has raised US$150K. The funds will be used as such:
- $50k for marketing/community/development
- $50k for audit cost and token related legal fees
- $50k for upcoming liquidity for IEO preparation
Metapoly will be launching the stablecoin $USM and Faction NFTs!
DAOventures newsletter is meant for informational purposes only. It is not meant to serve as investment or financial advice.
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