Ether.fi Launches NFTs Backed By Staked ETH

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Answer to SushiSwap’s Troubles May Be Transforming into On-Chain DAO

Anchor Asks Terra Foundation Guard for $450M to Shore Up Dwindling Reserves

Scramble for Spots on Lucrative NFT Whitelists Sparks Grind-to-Earn Trend

Aave Team Launches ‘Decentralized Social Graph’ With Lens Protocol Venture

Market Action: Terra Jumps 7% to Lead Rebound in DeFi Names

From Airdrop to $307M in Revenue in 30 Days — LooksRare Surges Past OpenSea in Torrid Month

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🎙Listen to the interview with Giveth’s Griff Green here:

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We’re excited to announce that FTM is now tradable on

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SushiSwap Struggles to Overcome Lack of Management and Nixed Frog Nation Deal

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 SushiSwap has been whipsawed by busted deals and the departures of key leaders. And yet the decentralized exchange remains one of DeFi’s second-largest DEX by trading volume and now, a coalition of of other projects is rallying to get behind it.

 from Sushi’s forums, is imminent, according to its author, 

 of Ondo Finance, a protocol that bills itself as a decentralized investment bank. Ondo’s co-founder Nathan Allman authored the proposed changes. The proposal calls for another group of projects putting their collective weight behind Sushi to turn the project into a multi-chain DeFi force.

 The proposal, called Poke Bowl, would formalize Sushi as an on-chain DAO, which means voting will trigger smart contracts to execute and establish a legal entity for the project. The move would take assets like the protocol’s Twitter and Discord accounts off-chain. Both entities would be governed by SUSHI holders, according to the 

👉READ THE FULL STORY IN THE DEFIANT.IO👈

 The community for Anchor, a Terra-based stablecoin money market protocol, is discussing the project’s future as revenues continue to fall short of the roughly 20% yields it promises depositors.

 The fix? Calling on the freshly-launched Terra Foundation Guard to top-up Anchor’s Yield Reserve with $450M while developers scramble to cook up Anchor’s new and improved v2 iteration. That’s according to ‘

’, an Anchor community member and researcher at crypto VC firm Hashed.

 Anchor offers depositors a fixed annual return of roughly 20% by redistributing fees from borrowers and rewards from other assets staked in the protocol. However, when the protocol revenues are lower than 20%, funds are mobilized from its Anchor Yield Reserve to pay out investors.

 Lens Protocol is a new social media effort from the team at Aave, the money market that first launched on Ethereum.

 The announcement says that “the purpose of the Lens Protocol is to empower creators to own the links between themselves and their community, forming a fully composable, decentralized social graph.”

 The first thing everyone wants to know about any new protocol is: when token? Well, the new Lens Protocol from the Aave team mentions a “fair launch” in its announcement post, so there must be something on the way…

 and get on the #FairLaunch channel, but it’s also worth getting into what the protocol actually is: a permissionless social graph that will permit any developer to build on it. What’s more, no one can kick anyone off it.

 Getting on the whitelist for a hyped NFT drop can mean tens of thousands of dollars in profits. But with new projects launching daily and whitelist requirements getting more arduous, some NFT collectors and flippers are looking to outsource the task.

 A search for “NFT whitelist” on popular freelancing website 

 shows over 1,000 job postings offering $3-$5 an hour. Here’s an example.

 Whitelists are lists of blockchain addresses that are given early access to an NFT mint, sometimes at discounted prices. Originally intended as a way to reward early community members and avoid gas wars, the influx of new entrants into the NFT space has led to fierce competition for these coveted slots.

 The DeFi markets have surged to post an emphatic recovery from January’s lows despite lingering concerns about heavy-handed regulation. The combined capitalization of DeFi tokens sits at $121B, having bounced 16.7% since posing a local low of $103.7B on Feb. 3 according to 

 Just two of the top 100 non-stablecoin DeFi assets have shed value since the beginning of January, while one-third of tokens rallied by more than 30%. Terra (LUNA) 

 in the last seven days and is the sector’s top token with a market cap of $23.5B. It represents almost a fifth of the entire DeFi capitalization.

 Maybe it’s the decentralized architecture? Or maybe it’s liquidity mining Whatever the cause, LooksRare, the newly launched NFT marketplace, pulled ahead of the centralized market leader, OpenSea, in terms of protocol revenue almost immediately, according to data site TokenTerminal.

 In the last 30 days, LooksRare produced $307M in protocol revenue vs. $110M at OpenSea. LooksRare launched with 

 of its LOOKS token to past OpenSea users, and it has been growth hacking marketshare ever since by giving more LOOKS to anyone who makes a trade on the platform (also known as liquidity mining). Though much of that volume has come 

 LOOKS currently trades at $3.44. Its high point so far was $7.07 on Jan. 20, according to CoinMarketCap. For context, daily rewards in LOOKS are worth 

writes that DAOs can solve thorny governance problems by looking to antecedents in the political world.

 DAOs can reshape society by bringing democratic control to important economic and social activities previously governed through more hierarchical means. But as many people have pointed out, DAOs have not yet achieved their goal of true decentralization.

 Participation in DAO governance is too low, and tokenholders often lack the expertise and time to make informed decisions. Many DAO decisions are taken by a small number of actors, and we lack formal mechanisms to ensure these decisions are aligned with the interests of the tokenholders at large.

 As it turns out, these challenges are identical to the governance challenges faced by democratic societies in the physical world. Lessons we have learned from two millennia studying and designing democratic governments provide useful insights into improving DAO governance.

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Hello Defiers! Here’s what we’re covering today:

News

Answer to SushiSwap’s Troubles May Be Transforming into On-Chain DAO

Anchor Asks Terra Foundation Guard for $450M to Shore Up Dwindling Reserves

Scramble for Spots on Lucrative NFT Whitelists Sparks...

🍱 Answer to SushiSwap’s Troubles May Be Transforming into On-Chain DAO