🔥 Insane Money and a Hype-Drunk Market: Are NFTs the New ICOs?

Hello Defiers! Here’s what we are covering today… News Insane Money and a Hype-Drunk Market: Are NFTs the New ICOs? Twitter Drops 140 Free NFTs on Rarible DeFi Rates are Sliding Closer to TradFi Yields Research Compound Treasury is the First Step in ...


Hello Defiers! Here’s what we are covering today…




and more ;)


Tomorrow 7/2 @10:30 ET Defiant Weekly Livestream



💸 LAST CHANCE: Gitcoin Grants Round 10 ends tomorrow: Remember to contribute to The Defiant!

The Defiant is building the leading information platform at the intersection of tech and finance. Everything we raise on this round will be used towards gifting Defiant subscriptions.Nominate subscribers here.

The open economy is taking over the old one. Subscribe to keep up with this revolution. Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button below ($15/mo, $150/yr).

Subscribe now

🙌 Together with:

  • Balancer, one of the leading DeFi automated market makers (AMM) for multiple tokens. Dive into their pools at https://balancer.finance/!
  • Kraken, consistently rated the best and most secure cryptocurrency exchange, which can get you from fiat to DeFi
  • Aave, an open-source and non-custodial liquidity protocol where users can earn interest on deposits and borrow assets.
  • Kyber DMM, an automated market maker which prioritizes permissionless liquidity contribution and high capital efficiency

📉 DeFi Rates are Sliding Closer to TradFi Yields

TLDR DeFi’s borrowing and lending rates are trending downwards, opening questions of what will happen to open finance if yields converge with those of traditional finance.

THE NEWS Borrowing rates for USDC have declined to 2.5% and 3.1% on Compound and Aave, from over 15% three months ago, according to LoanScan. Lending rates have suffered similar compression, with yields on the stablecoin dropping to 1.2% and 1.6% on the respective lending protocols in that period.





A Game Changer for Litigation Funding!

The LITI & wLITI tokens allow any investor to engage in the high-performing litigation finance market.

By tokenizing their equity, Liti Capital decentralizes access to litigation finance, an asset class that has only been an option for wealthy investors until now. Litigation finance companies find lawsuits with large payouts and acquire a percentage of the case. This percentage is considered to be an “asset”. Then they help the plaintiff win the case and take a portion of the profits. 80% of these profits will be distributed to LITI holders as dividends.

Fighting Crypto Fraud Through Class Action - Between 5% and 10% of Liti Capital's yearly investment budget will be used to finance crypto-fraud cases that have affected our community members.

To purchase a LITI token, investors must pass KYC requirements. This token is only available for purchase on the Liti Capital website. Holding a LITI grants protections under Swiss law, dividends, and voting rights. The wrapped LITI (wLITI) does not require KYC and will debut on Uniswap and be available on other DEXs in the future.

➡️ Check outLiti Capital at www.liticapital.com to learn more!


🔥 Insane Money and a Hype-Drunk Market: Are NFTs the New ICOs?

SEVEN FIGURES “If you have seven figures in JPEGs…” Deeze doesn’t have to finish the thought as he scrolls through his gallery of NFTs. The 27-year-old collector doesn’t have his camera on, but his profile photo is an NFT avatar with a hoodie and 3D glasses blowing bubbles from a pipe. It’s an aesthetic he searches for across NFT projects.

MONEY Deeze tells me on Zoom that he’s a mid-level IT employee, whose day job is not all that demanding. During the pandemic, he used his free time on some light degening, making a good amount of money in crypto yield farming. And now he’s all in on NFTs, so much so that he can’t even remember all the shit he owns. One thing he is certain of ̶ they’re worth a lot. Like seven-digits a lot.


Custom NFT created for Deeze by @le_sh1n

“Like ICOs, 99% of these NFT projects will go away,” said cryptograffiti, a crypto artist that prefers Bitcoin but has created a number of Ethereum-based NFTs.

99.9% Yet, it wasn’t just the pseudo-Bitcoin Maxi who was skeptical. Even full-on NFT enthusiasts ̶ think Gmoney, Deeze, Aftab Hossain (aka: DC Investor), $WHALE ̶ estimate up to 99.99% of the space will fail. So virtually everything.


🐤 Twitter Drops 140 Free NFTs on Rarible

TLDR Twitter is on Rarible. Yes, the gigantic social media platform. That Twitter. On June 30, the official Twitter account tweeted that it was giving away 140 free NFTs based on the platform’s aesthetic, brand and memes. These one-of-twenty edition NFTs included a furry Twitter bird, an overflowing bottle of blue Twitter vitamins, and a Twitter “reply guy” whose head is literally an egg (in reference to the dudes with Twitter’s default egg profile picture who “mansplain” in the comments).



💰 After the Gold Rush: What Are the Next Steps for NFTs?

`By Masha Prusso

Upshot: Contributing writer Masha Prusso unpacks the state of play in the volatile NFT market and finds some fascinating patterns signalling what happens next…

Non-fungible tokens (NFTs) exploded into popular consciousness in the first half of 2021. In particular, the art world really began to take notice of this asset class, which allows for clear ownership of a unique virtual item.

Whether it was the digital artist Beeple selling his NFT piece for more than $60 million, Covid Alien Punk reaching $11.8m at auction, or the first ever Tweet selling for over $2m, the interest in the NFT space has been incredible across both the crypto-space, and the general public alike.



⚙️ Compound Treasury is the First Step in a Symbiotic DeFi-FinTech Relationship

On-Chain Markets Update by Lucas OutumuroIntoTheBlock

DeFi is gearing up for broader adoption. Currently most DeFi protocols are looking at layer 2 scaling solutions or a multi-chain approach to be able to make transactions more affordable and scalable. While this reduces new users’ barriers to entry in terms of cost, they still have to go through a steep learning curve to set up and be ready to use applications on layer 2. Having users skip this learning process altogether is a promising alternative to benefit both users and token holders.



🔗 Swarm Markets launches what it claims is the world’s first regulated DeFi platform: The Block

Swarm Markets has followed a long and winding road to launching a decentralized exchange under the supervision of BaFin, the German regulator. The platform is now finally going live with $15 million in pledged liquidity.

🔗 SoftBank invests $200 million in Brazilian crypto exchange Mercado Bitcoin: The Block

The SoftBank Latin America Fund has invested $200 million in the parent company of Mercado Bitcoin, one of the largest cryptocurrency exchanges in the region.

✊ Head to THEDEFIANT.IO for more DeFi news 📰

🧑‍💻 ✍️ Stories in this newsletter were written by Owen Fernau, Dan Kahan and yyctrader and edited by Edward Robinson, Bailey Reutzel and Camila Russo. Videos were produced by Robin Schmidt and Alp Gasimov. Podcast was led by Camila, edited by Alp.

This is a public version of the newsletter and both paid and free subscribers are receiving it.

Free subscribers get:

  • News briefings (Tuesday-Thursday)
  • Weekly Recap (Sunday)

Paid subscribers get:

  • Full transcript of the weekly podcast interview (Friday)
  • Early access to opinion columns and research pieces (Monday)
  • Exclusive access to Inbox Dump where we send all the press releases that didn’t make it to the newsletter (Saturday)
  • Exclusive access to subscribers-only Discord chat

Subscribe now

The Defiant is a daily newsletter focusing on decentralized finance, a new financial system that’s being built on top of open blockchains. The space is evolving at breakneck speed and revolutionizing tech and money. Sign up to learn more and keep up on the latest, most interesting developments. Subscribers get full access, while free signups get only part of the content. Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button above ($15/mo, $150/yr).