🗑️MakerDAO May Ditch Sky Branding

GM Defiers!

Sky, the collateralized debt protocol formerly known as MakerDAO, will soon vote on whether to abandon its new branding. Just eight weeks after shifting to a new identity, the project may bring back its original brand due to community confusion.

APE has been on an absolute tear amid the launch of the Ape Chain Layer 3 network. While APE has doubled over the past fortnight, Bored Ape Yacht Club NFTs are also up 14% in seven days.

Markets traded lower on Tuesday as Bitcoin hovered around $67,000. ETH dropped 2%, while SOL climbed 2% and DOT dipped 1%.

Scroll’s freshly airdropped SCR token is trading at a $222 million market cap following its distribution yesterday. More than 570,000 wallets qualified for the drop.

Also, Michael Saylor throws shade at “crypto-anarchists,” Lava allocates $1M to network contributors, and Movement Labs integrates ERC-3643.

✍️ In today’s newsletter:

Maker community to vote on abandoning Sky branding
Apecoin ecosystem soars on L3 launch
Bitcoin clings to $67,000
Scroll drops token to 570,000 users
Michael Saylor turns on decentralization devotees
Lava earmarks $1M to incentivize network participants
Movement Labs targets RWA tokenization

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🎭Sky To Consider Reverting Back To MakerDAO Branding

MakerDAO may abandon its new Sky branding just eight weeks after its introduction. Rune Christensen, the project’s co-founder, said the rebrand has caused confusion for community members, who will vote on a preferred brand identity in the coming weeks.

🦍Apecoin and BAYC NFTs Rally on ApeChain Launch

The price of APE is up 86% in seven days following the launch of the highly-anticipated Ape Chain Layer 3. The chain has quickly attracted a user base of memecoin degens following the launch of the ApeExpress token launchpad.

📉Bitcoin Clings to $67,000 as Crypto Market Cap Drops 2% to $2.4 Trillion

Crypto markets continued lower on Tuesday, with the total cryptocurrency market capitalization declining by 2% to $2.4 trillion. Traders with long positions, especially those betting on Bitcoin’s rise, were battered. Over $40 million in BTC long liquidations occurred in the last 24 hours.

📜Scroll to Airdrop SCR Tokens on October 22

Scroll’s long-awaited airdrop distributed 5.5% of SCR’s supply to 570,000 wallets. The token is trading at a $222 million capitalization and a $1.17 billion fully diluted valuation, but has tumbled 17% on its debut day of trade.

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🌀Is Saylorism Dead? Microstrategy CEO Goes 180 On His Bitcoin Stance

Michael Saylor, the executive chairman of Microstrategy, has ruffled the feathers of Bitcoin maxis after abruptly taking shots at proponents of decentralization. Saylor said self-custody advocates are “paranoid crypto anarchists” and urged Bitcoiners to trust that the U.S. government and financial institutions would never meddle with assets held on centralized exchanges.

🌋️Blockchain Infra Provider Lava Network Unveils “Industry First” Incentive Structure

Lava Network, a blockchain infrastructure team, has paid out $60,000 worth of ATOM to contributors as part of a $1M pool earmarked for network participants. The funds are intended to incentivize validators, data providers, and restakers.

🪙Movement Labs Leverages ERC-3643 For Complaint RWA Tokenization

Movement Labs is embracing ERC-3643 to promote compliant RWA tokenization. The standard has attracted adoption adoption from Citi, ABN Amro, and Apex Group since its finalization ten months ago.

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Buenos Aires Launches First Blockchain-Based Digital Identity for Its 3.6 Million Citizens (Unchained)