🐓 Liquity Breaks DeFi Doldrums With ‘Chicken Bonds’ Offering
Hello Defiers! Here’s what we’re covering today:
News
- Liquity Breaks DeFi Doldrums With ‘Chicken Bonds’ Offering
- Three Arrows’ Prized NFT Collection Heads For The Block
- Dwindling Ethereum Revenue Pressures Staking Yield
👀 Defiant Premium Story for Paid Subscribers (📜Scroll to the end!)
Podcast
🎙 Starkware Founders: Ethereum Could Surpass Visa's Transaction Speeds Within Months
Elsewhere
- The Devcon VI Manual: Ethereum Foundation
- Despite call for Congress to act, new crypto laws look unlikely this year: The Block
- @arbitrum's new CMO tells us why and how he left Amazon to pursue a career in #web3: Arbitrum
Trending in The Defiant
- BNB Chain Slips as No. 1 Ethereum-Compatible Chain: Report
- DeFi Lender Euler Finance Accepts USDT as Collateral
- What are Gas Fees?
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DeFi Offerings
🐓 Liquity Breaks DeFi Doldrums With ‘Chicken Bonds’ Offering
New Mechanism Quickly Amasses More than $5M in Deposits
By Owen Fernau
BEAR It’s been some time since DeFi users have been able to work with a new type of offering. Thank the bear market for that.
BONDS Yet on Oct. 4 there was an exception — Chicken Bonds, launched by Liquity, a collateralized debt position protocol with a market cap of $176M. Since then, Chicken Bonds have acquired $5.5M in LUSD, Liquity’s stablecoin, according to a Dune Analytics query.
👉READ THE FULL STORY IN THE DEFIANT.IO👈
NFT Sales
👩🏽⚖️ Three Arrows’ Prized NFT Collection Heads For The Block
Starry Night Transfers NFTs To Liquidator
NEWS Starry Night Capital, a subsidiary of bankrupt crypto hedge fund Three Arrows Capital, is moving its cherished NFT collection to Teneo, Three Arrows’ court-appointed liquidator.
👉READ THE FULL STORY IN THE DEFIANT.IO👈
Ethereum
👀 Dwindling Ethereum Revenue Pressures Staking Yield
Blockchain Generated $200M In The Third Quarter: Report
By: Aleksandar Gilbert 4 hours ago
YIELDS Ethereum revenue “fell off a cliff” in the third quarter of 2022, squeezing staking yields in the process, according to a recent report from crypto research firm Messari.
👉READ THE FULL STORY IN THE DEFIANT.IO👈
Sponsored Post
AMC’s The Walking Dead Signature 3D Avatars Minting on 10/5
The Walking Dead series may be coming to an end, but the Dead continue to live on in Web3. After two public sell outs of their NFT collections, Orange Comet will be releasing their Metaverse-ready, 3D hand-sculpted avatars of some of the favorite characters from the TV series. On October 5, two 5K piece mints (one public, one passholder only) will go on sale.
The Avatars feature fan-favorites Rick, Daryl, Michonne (with her pets), Carol, Mercer and more. These high-quality digital collectibles are one of the required NFTs needed to activate the gamification of the upcoming ‘The Walking Dead Lands’ metaverse; a post-apocalyptic open-world build-and-earn experience.
The cost for the public mint will be $80, priced in ETH immediately before the mint, and if you’re a Walker Access passholder, there will be an additional 0.02 ETH discount. So even if your favorite show may be ending, get your wallets ready so you can stay connected to the TWD community.
Podcast Video
🎙📺 Ethereum can surpass Visa's transaction speed within months
Shoutout
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Elsewhere
🔗 The Devcon VI Manual: Ethereum Foundation
This is your Devcon VI Manual, and it includes everything you need to know about Devcon, the surroundings and more.
🔗 Despite call for Congress to act, new crypto laws look unlikely this year: The Block
Cryptocurrency advocates and regulators can agree on one thing: Congress should pass new laws for crypto.
Web3 Academy @web3academy_The much anticipated podcast with @andrewsaunders is finally here 🚀 @arbitrum's new CMO tells us why and how he left Amazon to pursue a career in #web3. This one is an absolute gem! You don't want to miss it 👀 Enjoy it frens👇 w3academy.io/from-amazon-to…
w3academy.ioFrom Amazon To Arbitrum: Why a Web2 Legend Moved to Web3Andrew Saunders from Arbitrum came on the podcast to tell us about his career switch and how he transitioned to Web3 after working at Amazon1:24 PM ∙ Oct 5, 202217Likes4Retweets
Trending in The Defiant
- BNB Chain Slips as No. 1 Ethereum-Compatible Chain: ReportBinance’s BNB Chain is losing its edge as the world’s most-used Ethereum-compatible blockchain. Daily transactions on BNB Chain still dwarf those on Ethereum, the world’s preeminent smart contract platform, but the gap has steadily narrowed over the past several months.
- DeFi Lender Euler Finance Accepts USDT as CollateralSkepticism about whether USDT is fully backed by reserve assets has been around since 2017. Despite this, crypto’s largest dollar-pegged stablecoin, with a $68B market capitalization, has continued to make inroads into DeFi.
- What are Gas Fees?For a system to be decentralized, it must be self-funded. In other words, there is no need for outside money to make it work. Self-funding must be incentivized to be effective.
🧑💻 ✍️ Stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, and yyctrader, and edited by Edward Robinson, yyctrader and Camila Russo. Videos were produced by Alp Gasimov. Podcast was led by Camila, edited by Alp.
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👀 Defiant Premium Story for Paid Subscribers
📈 GMX Soars 17% After Twin Listing on FTX and Binance
Decentralized Perpetual Exchange Outperforms Market and Rivals in Third Quarter
GMX has emerged as that rare thing in crypto these days — a high flyer posting double-digit returns.The decentralized perpetual exchange may have Binance and FTX to thank for the performance.
The two giant exchanges listed the token this week, and FTX executed a two week promotion to support the token.
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As a result, GMX’s token has jumped 17% since Wednesday, according to CoinGecko.
GMX is a decentralized perpetual exchange that offers up to 30x leverage on Ethereum, Bitcoin, Chainlink, and Uniswap. It’s available on Arbitrum, the Ethereum Layer-2 blockchain, and Avalanche.
Real Yield
Trading fees generated by the protocol are distributed to tokenholders, making it part of the "real yield" trend.
GMX has a dual token model: GMX and GLP. The GMX token is the protocol's native governance and utility token and accrues 30% of the generated fees.
GLP is a liquidity token that accrues 70% of the generated fees. It’s an index comprising ETH, WBTC, UNI and other stablecoins and tokens.
Chains
The rate of return on these tokens varies depending on the chain the user is using. At present, staking GMX on Arbitrum yields an APR of 11.78% while staking on Avalanche yields 11.73%.
However, the margin widens for GLP where staking on Aribtrum yields 18.83%, while staking on Avalanche yields 22.21%.
GMX has been a roll in the last year. Its trading volume of $19B has jumped 58%. The platform’s token has outperformed the market in the third quarter.GMX has soared 185% since June 30 compared to a 24% uptick for Ethereum. The token of GMX’s main competitor, dYdX, has fallen 12% in that period.
