š° Will Booming NFT Market Spur New DeFi Lending Wave?
Hello Defiers! Hereās what we are covering today, News Will Booming NFT Market Spur New DeFi Lending Wave? Itās Been a Killer Week for āEthereum Killersā Op-Ed Crypto Laws, Lobbying & Activism: The Time Has Come For DeFi to Get Serious About D.C. Tut...
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Hello Defiers! Hereās what we are covering today,
News
- Will Booming NFT Market Spur New DeFi Lending Wave?
- Itās Been a Killer Week for āEthereum Killersā
Op-Ed
Tutorial
Video
Podcast
šListen to the interview in this weekās podcast episode here:

Links
- Investing in Yield Guild Games: a16z
- Cross-Chain Protocol Chainflip Raises $6M to Fund Growth, Security Audits: CoinDesk
- Sushi Stickers Now on Discord: SushiSwap
- Fractional, Month One ā Community Growth, More Resources, and Funding! Medium
- Updates to Binance Services: BinanceThe open economy is taking over the old one. Subscribe to keep up with this revolution.Ā Click here to pay with DAIĀ (for $100/yr) or sub with fiat by clicking on the button below ($15/mo, $150/yr).
š Together with:
- Balancer, one of the leading DeFi automated market makers (AMM) for multiple tokens. Dive into their pools at
- 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.
- The DeFi Pulse Index, by Index CoopĀ -Ā DPI is the easiest way to capture the upside of DeFi with the benefit of diversification. Buy DPIĀ todayĀ onĀ yourĀ favorite DEX.

NFT Collateral
š° Will Booming NFT Market Spur New DeFi Lending Wave?
LEAD The whole world is struggling to wrap its head around non-fungible tokens (NFTs), including DeFi. But DeFi is trying.
SO WHAT The value of non-fungible tokens (NFTs) is off the charts. āOver the last two weeks NFT sales have exploded to levels well beyond the NFT boom seen in March,ā says aĀ new report by CoinMetrics. Obviously, thatās driven in part by genuine interest but also by snagging something on the cheap that soars in value. And thereās been a lot of that going around.
ANALOG When people In the analog world want to make use of something valuable without selling it, they turn to a lender who will accept it as collateral for a loan. Thatās definitely happening in decentralized finance (DeFi), but not as quickly as one might expect considering all the other financial innovation thatās occurred on the blockchain.
šREAD THE FULL STORY IN THE DEFIANT.IOĀ š
Ethereum
š Itās Been a Killer Week for āEthereum Killersā
TLDR This is shaping up to be a killer week for so-called āEthereum killers.ā Of the 100 largest tokens in terms of market capitalization, seven of the top ten biggest gainers in the last week are smart contract platforms, according to CoinGecko. Eleven of the top 15 smart contract platforms are up double digits on the week, according to crypto research company Messari. Of those, three,Ā Solana, Terra, andĀ Avalanche, are up over 75%. Cardano, Polkadot and Cosmos are all up over 25%.
SOL ETH, with its $364B market cap, moved is down a little over a percent on the week. Investors are encouraged by the rise of Solana, whose SOL token doubled in the past two weeks, and now want to put chips onto other Layer 1s, said Muneeb Ali, founder of Stacks, a smart contract platform built on Bitcoin which has $1.4B in market cap.
CONFIDENCE āI think people are realizing how large the potential market for smart contracts can be,ā Ali told The Defiant. āSuccess of Ethereum fuels demand for new L1s and L2s. And as people see initial signs of traction of a new L1, recent example being Solana, then their confidence level on newer L1s being able to take market share can go up in general.ā
Opinion
š Crypto Laws, Lobbying & Activism: The Time Has Come For DeFi to Get Serious About D.C.
In this weekās Opinion piece, David Liebowitz argues how and why all the tribes of crypto and DeFi must band together to press Washington not to pass draconian laws and regulations. The stakes couldnāt be higher ā the creative revolution released by blockchain technology. Among Davidās proposals: new laws to protect crypto.
ACTION: Earlier this month when the infrastructure bill came with a provision to broadly expand the definition of brokers to include blockchain ecosystem participants such as miners, developers, and others, the crypto industry sprung into action.
EDUCATE: Builders, investors, enthusiasts, lawyers, and everyone in between embarked on an all-out effort to add to the Lummis-Tooly-Wyden amendment and narrow the definition of a broker. Moreover,Ā they sought toĀ educate members of Congress and the general public on the ramifications of a sweeping definition on the future of nascent technology, andĀ whyĀ such consideration demands more time.
LOBBY Organizations such as Coin Center, The Blockchain Association, and Fight For The Future spent countless hours organizing grassroots outreach online, resulting in tens of thousands of calls to Congress. The undertaking garnered enough attention to receive coverage from theĀ Washington Post, which headlined its articleĀ How Cryptocurrency Became a Powerful Force in Washington,Ā as well as features inĀ The New York Times,Ā Vox,Ā and others. Although the provision was not amended before it passed the Senate, the saga solidified the blockchain lobby as a serious presence and showed whatās possible when the industry organizes in a coordinated effort.
šREAD THE FULL STORY IN THE DEFIANT.IOĀ š
SPONSORED POST

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Tutorial
šØš»āš« Defiant Degens: How to Earn Up to 16.5% Interest with Stablecoins on Orion Saver
This is a weekly tutorial on the most compelling opportunities in yield farming, written by our friendĀ DeFi Dad, an advisor to The Defiant and Head of Marketing and Portfolio Support atĀ Fourth Revolution Capital.
Background on Protocol: A new DeFi protocol calledĀ Orion MoneyĀ aims to build a cross-chain stablecoin bank for saving and lending. Whatās clever about Orion is that itās bridging demand from two different DeFi communities: theĀ Anchor RateĀ available on Terra blockchain and the outsized amount of stablecoin liquidity and demand to earn yield on Ethereum. If youāre unfamiliar with the Anchor Rate, think of it as the target APY that Anchor protocol seeks to pay out to depositors of UST. This Anchor Rate isnāt fixed, but is designed to be stable, currently about 19.55% APY.
šREAD THE FULL STORY IN THE DEFIANT.IOĀ š
Video
šŗ The Defiant Weekly: I Gave NFTs Worth $144,000 For Free. Here's Why.
Links
š Investing in Yield Guild Games: a16z
Last year, when COVID swept into the Philippines, nearly 7.3 million people in the country lost their jobs and their livelihoods as the country went into lockdown. In response to the suffering, Gabby Dizon, a local gaming entrepreneur, began lending out his characters in a game calledĀ Axie InfinityĀ to different people in his community.
š Cross-Chain Protocol Chainflip Raises $6M to Fund Growth, Security Audits: CoinDesk
Chainflip, a decentralized automated market maker-based protocol, closed a $6 million funding round led by Framework Ventures.
š Fractional, Month One ā Community Growth, More Resources, and Funding! Medium
It hardly feels like a month since we launched fractional.art* in July. Weāve seen some pretty incredible adoption and engagement from this new community: there have already been over 200 unique curators and 2,500 unique owners of fractions who have come up with so many cool things we couldnāt have anticipated ourselves.
š Updates to Binance Services: Binance
Binance reviews its products and services on an ongoing basis to determine changes and improvements in light of evolving global compliance standards. To enhance user protections and provide a safe crypto environment for everyone, Binance is making the following changes:
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š§āš» āļø Stories in this newsletter were written by Brady Dale, Owen Fernau and Juan Pellicer, and edited by Camila Russo, Bailey Reutzel and Edward Robinson.Ā Videos were produced by Robin Schmidt and Alp Gasimov. Podcast was led by Camila, edited by Alp.
The DefiantĀ is a daily newsletter focusing on decentralized finance, a new financial system thatās 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.Ā Click here to pay with DAIĀ (for $100/yr) or sub with fiat by clicking on the button above ($15/mo, $150/yr).