🎯 Jump and Three Arrows Lead $1B LUNA Buy to Secure UST Against Black Swans

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

News

• Jump and Three Arrows Lead $1B LUNA Buy to Secure UST Against Black Swans
• Staking Race Quickens as Rocket Pool Draws 1% of Ethereum’s Validators in Three Months
• From Pudgy to Tubby: Overweight Felines Dominate NFT Volume

Podcast

• Listen to this week’s podcast episode with Sovryn’s Edan Yago

Video

• Tutorial: How To Survive A Bear Market

Links

• ‘Frozen’ Bitcoin Tied to Canadian Protests Lands at Coinbase, Crypto.Com: CoinDesk
• Swiss index provider launches new product tracking 10 DeFi tokens: CoinTelegraph
• Gold outperforms stocks and bonds as traders seek haven assets: The Financial Times
• Celsius Integrates Chainlink Proof of Reserve (PoR) To Help Secure Cross-Chain Wrapped Tokens: Celsius
• Partnership Announcement: @valkyrie_money X @LunArt_NFT: Terra
• New youtube video from the legend @spamandrice premiering an absolutely OP double bug comp: Axie Infinity

Trending in The Defiant

• What’s Sifu Up To? Eponymous Token May Foreshadow New Project
• DeFi 2.0 Primer: Decentralized Finance is Poised to Expand its Reach But Challenges Loom
• Smooth Love Potion Soars 70% in 24 Hours Behind Axie Infinity Update

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).

🙌 Together with:

• $WEB3, by Archis the best of Web3 in a token. This methodology-first tokenized-index provides broad-market exposure to Web3. Its constituents represent roughly 70% of the ecosystem. Learn more!
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Stablecoins

🎯 Jump and Three Arrows Lead $1B LUNA Buy to Secure UST Against Black Swans

PEGS Terra’s stablecoins, primarily UST, will now be backstopped by Bitcoin. A billion dollars worth of BTC will be set aside by the Luna Foundation Guard (LFG) to act as a backstop for UST and other Terra stablecoins in case they lose their pegs, as first reported by The Block.

SECURITY LFG sold $1B in LUNA tokens, the governance token of the Terra blockchain, to Jump Crypto, Three Arrows Capital, DeFiance Capital and other investors. LFG was announced in January, and is a non-profit foundation dedicated to advancing “greater economic sovereignty, security, and sustainability of open-source software and applications that help build and promote a truly decentralized economy.”

GRANTS It provides grants in the areas of open source development, community growth and research and development. Apparently, it also runs reserve funds.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Proof of Stake

🚀 Rocket Pool Draws 1% of Ethereum’s Validators in Three Months

NEWS Rocket Pool, an Eth2 staking provider, now accounts for 1% of Ethereum’s network validators just three months after launching.

STAKING The project has quickly emerged as the second-largest Eth2 liquid-staking platform, dramatically outpacing the growth of all rivals except for the sector’s leader, Lido, which enabled staking in December 2020.

LAUNCH Ethereum’s highly anticipated Eth2 overhaul was set in motion with the launch of staking in November 2020, one month before the beacon chain went live. However, individual stakers are required to contribute at least 32 Ethereum in order to secure the network, posing a barrier to entry for smaller hodlers. Ethereum stakers also cannot withdraw staked assets until after the network’s chain-merge is completed later this year.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

NFTs

😺 From Pudgy to Tubby: Overweight Felines Dominate NFT Volume

CONTENDER OpenSea, the leading NFT marketplace, has a new contender atop its daily volume leaderboard.

TOP SLOT The project du jour is Tubby Cats, which has traded 4,954 ETH, equivalent to $12.9M, in volume in the past day. That’s good for the top slot on OpenSea, ahead of Bored Ape Yacht Club, Doodles, and well, every other NFT project on the platform as of Feb. 22.

MINT The whitelist mint for Tubby Cats went live on Feb. 21 at 12PM EST and will run for 48 hours, with any remaining NFTs from the 20,000 token collection made available to the public. The cheapest Tubby Cat is currently selling for 0.79 ETH, worth over $2,000, according to a Dune Analytics dashboard dedicated to the project.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Sponsored Post

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The Tube

📺 Tutorial: How To Survive A Bear Market

Links

🔗 ‘Frozen’ Bitcoin Tied to Canadian Protests Lands at Coinbase, Crypto.Com: CoinDesk

Cryptocurrency tied to the Canadian truckers protesting COVID-19 restrictions has been on the move, in defiance of the authorities’ orders to freeze funds, blockchain analysis shows.

🔗 Swiss index provider launches new product tracking 10 DeFi tokens: CoinTelegraph

Switzerland-based fund manager Compass Financial Technologies has launched an index for 10 Decentralized Finance (DeFi) tokens dubbed the “Compass Crypto Basket Fundamental DeFi Index” (CCBFDEFI).

🔗 Gold outperforms stocks and bonds as traders seek haven assets: The Financial Times

Gold has made a positive start to the year, outperforming bonds and equities as skittish investors scour the market for safe places to park cash.

🔗 Celsius Integrates Chainlink Proof of Reserve (PoR) To Help Secure Cross-Chain Wrapped Tokens: Celsius

Celsius is excited to announce that — in collaboration with our DeFi engineering arm CelsiusX — we have integrated Chainlink Proof of Reserve (PoR).

https://twitter.com/TerraLUNADaily/status/1496319024174612485?s=20&t=Sd3pvbCa-Lz0dAIJN7TC_Qhttps://twitter.com/SuperWhale_/status/1495989225740812288?s=20&t=Sd3pvbCa-Lz0dAIJN7TC_Q

Trending in The Defiant

• What’s Sifu Up To? Eponymous Token May Foreshadow New ProjectAfter the pseudonymous Sifu was revealed to be QuadrigaCX co-founder Michael Patryn last month, it would be easy to expect him to leave DeFi behind.
• DeFi 2.0 Primer: Decentralized Finance is Poised to Expand its Reach But Challenges LoomCompared to the walled gardens of traditional finance the benefits of DeFi offer a more ubiquitous range of financial tools for consumers.
• Smooth Love Potion Soars 70% in 24 Hours Behind Axie Infinity UpdateSmooth Love Potion, a token earned by playing Axie Infinity, has been a white knuckle ride in recent months.

🧑‍💻 ✍️ Stories in The Defiant are written by Brady Dale, Owen Fernau, Samuel Haig, DeFiDad, and yyctrader, and edited by Edward Robinson, yyctrader, and Camila Russo. Videos are produced by Robin Schmidt, Alp Gasimov and Daniel Flynn. Podcast is led by Camila, edited by Alp.

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)