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👁️Worldcoin Debuts At Lofty Valuation
The Defiant Daily
Together with
GM Defiers!
In today's newsletter, we dive into Worldcoin, a controversial crypto project taking a big step into the public sphere, launching its WLD token and making strides to increase the availability of its identity-validating technology, the Orb.
Then, we navigate the tumultuous waters of the HamstersGG saga, a playful yet risky crypto project centered around hamster racing, now embroiled in accusations of a 'rug pull.' Finally, we turn our attention to Capitol Hill, where U.S. lawmakers are preparing to review and amend key bills concerning digital assets and stablecoins, marking a potentially significant milestone for crypto regulations in the United States.
✍️ In today’s newsletter:
- Worldcoin launches token, migrates to Optimism
- Traders turn to betting on animal races
- Congress to review two digital asset bills
📈 Markets in last 24 hrs:
| Ticker | Value | 24h |
|---|---|---|
| BTC | $30,085 | ↗ 1.05% |
| ETH | $1,889 | ↗ 1.31% |
| S&P 500 | $4,555 | ↗ 0.41% |
| GOLD | $1,960 | ↙ -0.19% |
| Arch WEB3 | 0.88pts | ↙ -5.12% |
| ↳ FINANCE | 0.94 | ↙ -5.13% |
| ↳ INFRA | 0.80pts | ↙ -5.05% |
| ↳ CONSUMER | 1.05pts | ↙ -5.2% |
Learn more about Arch Indices here.
🎬 WATCH
Watch our video on how crypto security is evolving in 2023. And check out our podcast with Nicolas Liochon, Global Lead for Linea, which is a new zkEVM rollup by Consensys.
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Digital Identity
Worldcoin Launch Greeted By Mix Of Skepticism and Curiosity
TLDR The Worldcoin Foundation has launched its WLD token and plans to increase the availability of its iris-scanning Orb, pushing the controversial project further into public view and hoping to pave the way for applications like online voting and Universal Basic Income.
SO WHAT The project faces criticism over potential privacy issues and its potentially predatory tokenomics, due to a high fully diluted valuation compared to the circulating supply.
SPONSORED POST
This innovative new protocol eliminates the need for oracles and governance, ushering in a new era for lending and borrowing systems in DeFi.
The Ajna Protocol is a non-custodial, permissionless lending and borrowing system. Ajna expands the universe of accepted collateral tokens in DeFi, letting users instantly borrow against almost any fungible or non-fungible tokens. Lending options are expanded as well, enabling users to lend any fungible tokens. The protocol consists of asset pair pools and offers unique features including perpetual loans, permissionless pair creation, and immutability.
Ajna's mission is to improve DeFi lending and borrowing protocols by giving users a truly decentralized system with more options and less systemic risk.
Ajna is built without governance, which means that the protocol cannot be altered or updated. It’s designed without price feeds, commonly referred to as “Oracles,” to remove a common point of failure.
Six security audits were conducted by five industry-leading audit firms & platforms Sherlock, Trail of Bits, Quantstamp, Prototech Labs, and Code4arena.
The protocol has been launched on Ethereum mainnet, with other network launches planned in the coming months. Ajna can be accessed through third party applications like Summer.Fi and soon others.
Memecoins
HamstersGG Faces Rug Pull Accusations
TLDR HamstersGG, a crypto project allowing betting on hamster races, has seen its HAMS token plummet by 81% following "rug pull" accusations, with founders suspected of making $2M by offloading tokens onto unsuspecting investors.
SO WHAT This serves as yet another cautionary tale about the risks associated with investing in low-cap tokens from anonymous teams.
Regulation
Upcoming Congressional Meeting To Review Two Digital Asset Bills
TLDR U.S. lawmakers are set to review two bills related to digital assets and stablecoins, aiming to provide clarity on securities determination, registration requirements for exchanges, and guidelines for stablecoins. This follows a significant court ruling in the SEC vs Ripple case, where most claims against Ripple were dismissed.
SO WHAT The outcome of these reviews could significantly influence the U.S. regulatory landscape for digital assets, potentially bringing more clarity and stability to the industry.
