🏛 U.S. Permits Tornado Cash Users to Access Crypto Deposits

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

News

Markets

Macro Trumps The Merge As Crypto Dives After Hot Inflation Data

Podcast

🎙 Listen to the exclusive interview with Stani Kulechov in this week’s podcast

Video

Tutorial: Stake Your ETH After The Merge

Elsewhere

S. Korean Court Issues Arrest Warrant Against Terra Co-Founder Do Kwon: CoinDesk
‘WAGMI’ Is Dead: Pplpleasr, UnicornDAO, TIME President Weigh in on NFTs: Decrypt
What does Ethereum’s merge mean for Polygon? Short answer: it’s only good news for Polygon.

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Crypto Regulation

🏛 U.S. Permits Tornado Cash Users to Access Crypto Deposits

Authorities Say Users Need License to Retrieve Funds From Sanctioned Mixer

By Samuel Haig

U.S. Permits Tornado Cash Users to Access Frozen Crypto

LICENSE U.S. residents with crypto trapped on Tornado Cash may now apply for a license from the U.S. Treasury Department to retrieve their funds.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Market Action

😫 Macro Trumps The Merge As Crypto Dives After Hot Inflation Data

Stocks Had Their Worst Day Since June 2020

By Aleksandar Gilbert

Macro Trumps The Merge As Crypto Dives After Hot Inflation Data

TUMBLING Worse-than-expected U.S. inflation numbers sent global markets tumbling Tuesday despite mounting excitement over the Merge, the most significant upgrade to Ethereum in its seven-year history.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Trailing Stop now available to MakerDAO and Liquity users

Fans of Maker and Liquity protocols can now rely on the advanced trailing stop strategy for managing their DeFi positions using DeFi Saver, an all-in-one dashboard for sophisticated DeFi management.

A trailing stop is a dynamic type strategy that allows users to configure a percentage drop from peak market value that would trigger the full closing of a position once reached. While with a standard Stop loss, a position would get closed at a fixed price, a Trailing stop actively follows any upward market movements by the set percentage, instead continuously increasing the stop price.

The new strategy is another in the series of automated trading strategies introduced to MakerDAO and Liquity by DeFi Saver, following Stop loss and Take Profit. Setting up is straightforward. Existing Maker and Liquity users need to visit DeFi Saver and switch to the Automate tab in the dedicated protocol dashboard. Users just need to input the percentage that they want the stop price to be below the reached market peak and to select the asset to which they want their position to be closed (e.g. collateral asset or debt asset).

A trailing stop is a great method to reduce losses or lock in profits. For example, when one is using these lending protocols to go long on ETH. It’s recommended to combine a trailing stop with a standard stop loss to further minimize potential losses in case of a market downturn. Users can find both of these options available in the dedicated protocol dashboards within the DeFi Saver app.

Check out the new Trailing Stop automation for Maker and Liquity by DeFi Saver.

NFT Fundraising

💰 Doodles NFT Project Raises $54M At $704M Valuation

Funding Round Led By Alexis Ohanian’s Seven Seven Six

By Owen Fernau

Doodles NFT Project Raises $54M At $704M Valuation

POPULAR After over a month of silence on Twitter, Doodles are back with a bang. The popular NFT project announced a $54M raise on Sep. 13 that values Doodles at an eye-popping $704M. Alexis Ohanian, the co-founder of Reddit, led the funding round through his venture firm Seven Seven Six, according to Forbes.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Defiant Video

Trending in The Defiant

On Eve of The Merge Skeptics and Supporters Gird for Raft of ChangesThe moment has finally arrived. Ethereum is poised to execute the most historic upgrade in its eight-year history. And the DeFi community is giddy with anticipation that the shift to Proof-of-Stake consensus will revitalize the blockchain network’s usefulness and value. Richard Craib’s response? Meh.
ETH Fire Sale Unlikely After Shanghai Upgrade: NansenUnless The Merge sends Ether to the moon, Ethereum die-hards shouldn’t fear a fire sale when the post-Merge “Shanghai” upgrade takes effect next year, according to a new report from crypto analytics firm Nansen.
With Privacy Under Threat DeFi Community Scrambles to Rethink Frontend DesignCrypto was supposed to be unstoppable. But when the U.S. Office of Foreign Assets Control (OFAC) sanctioned the privacy-preserving protocol Tornado Cash on Aug. 8, the conception of crypto as an uncensorable financial network came into doubt.

🧑‍💻 ✍️ 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 Robin Schmidt and Alp Gasimov. Podcast was led by Camila, edited by Alp.

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