The 38th edition of our curated newsletter.
In today’s newsletter we look at:
- Quit Your Job to Work in Crypto
Value Rankings Solution
- Where Crypto Meets Culture
- $60 Million Pup Sale
- Toward Better Treasury Management
Quitting Job To Do Crypto Full Time
While some people don’t take crypto seriously, others decide to make it their full-time job. The idea of a new, decentralized web attracts more and more professionals who choose to quit their 9 to 5 and work in crypto. This change often means long hours, but does it promise a more attractive reward?
Vice tells five stories of people aged 21 to 36 who took a leap of faith, waved their occupations goodbye, and found a purpose in the crypto space. According to their feedback, the enthusiasm of new colleagues, the promise of something more meaningful, and a huge room for self-improvement have made up for stability.
Creating NFT Value Rankings
LobsterDAO is a Telegram chat that gathers DeFi enthusiasts, founders, and a bunch of other smart and curious people. Recently, the group hosted an NFT drop for contributors, and the author of this piece happened to miss it. As a result, he wrote up a proposal to LobsterDAO, offering analytics on the collection in exchange for the long-desired art token.
According to the proposal, the biggest value add is generating rankings for the full collection. At the time of the reveal, only half of the tokens were minted, meaning that the data from OpenSea was incomplete. However, there is a way to create some comprehensive quantitative rankings of digital lobster art for a DAO; and it should also be applicable to any NFT collection and data work more generally.
Mercuryo Co-Founder’s Piece
Next Phase of Dao Maturity
Investing in Friends With Benefits
Programmable blockchains are highly-valued. They inspire numerous developers to build new products and services on top of networks disrupting industries and reaching mainstream adoption. After DeFi, NFT, and crypto gaming trends, DAOs – internet-native, global collectives that share resources, build products, and work together toward common goals – are likely to step forward and speed up the adoption of web3 products.
Before, DAOs used to secure DeFi protocols, but FWB (Friends With Benefits) challenged this state of affairs. Founded initially as a token-gated Discord server, FWB has become the home of web3’s growing creative class. By aligning the incentives of the next generation of artists, creators, and builders, FWB enables an alternative renaissance for the next evolution of the internet.
Crypto Fork Uses Dog Meme to Raise $60 Million
A new crypto project AnubisDAO, a fork of OlympusDAO, managed to instantly raise $60 million and then lose them in a suspected phishing attack. Like many other dog-themed meme coins, the supposed fork used the famous Egyptian god with a dog’s head as their brand image.
Curiously enough, the project didn’t have a website, yet it managed to raise $60 million worth of ETH. The token sale was supposed to continue, but then the pool liquidity was unexpectedly removed. The $60 million in ETH put into the token sale was then sent to a different address.
A New Mental Model for Defi Treasuries
The Defi bull market caused a rapid revenue surge for numerous Defi protocols. On the one hand, it may seem like all these projects are doing great financially, sitting on hundreds of millions of dollars. On the other hand, almost all of this treasury value comes from the projects’ native tokens.
Although native tokens inside a project’s treasury may be financial resources, counting them as assets on their balance sheet does much more harm than good and is often used as an excuse for poor treasury management. This piece explains the problem in detail and suggests how DAOs should manage their treasuries.
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This is a weekly newsletter curated by our Blockchain Lead Vyacheslav Akhmetov. We cover the most sparkling events in the industry and sharing more about our journey.