MakerDAO Mulls Proposal To Boost DAI Savings Rate

Blend Drives Surge In NFT Lending Activity

Hello Defiers! Here’s what we’re covering today. But first, we’d like to take a minute to thank our sponsors, who make it possible for us to send out today’s newsletter.

FTX Crisis Shifts Into New Phase as Contagion Spreads and Investors Scramble for Cover

DeFi Supporters Say FTX’s Black Box Model Shows Peril of Centralization

Trapped FTX Users May Find Lifeline in Justin Sun

Solend Struggles to Liquidate Souring Loan as On-Chain Liquidity ‘Evaporates’

Binance Walks Away From Deal To Acquire FTX

OpenSea Will Enforce Royalties for Existing NFT Collections

Feds Crank Up Heat on Tornado Cash With Link to North Korea’s Nuclear Program

Daily Defiant: FTX UPDATE: BINANCE ABANDONS ACQUISITION PLAN

Binance chief says near collapse of FTX ‘severely’ eroded confidence in crypto industry: The Financial Times

#Web3’s core values include decentralization. It is a desirable state in which power and control over a protocol, project, or network are distributed evenly among its participants: Polygon

Focus Turns to Alameda as Investors Fear Binance Deal Not the Answer for Stricken FTX

Solana Supporters Buck Up Network As FTX Contagion Takes Toll

OpenSea Roils NFT Market With ‘Enforcement Tool’ For Creators

Get the 5-minute newsletter keeping 78K+ crypto innovators in the loop.

A word from our wonderful sponsors, who make this newsletter possible:

 is the leading decentralized liquidity protocol. Aave governance has greenlighted the development of GHO – a decentralized, collateral-backed stablecoin that will be native to the Aave protocol. Launching on testnets soon!

is revolutionizing Bitcoin mining with a decentralized marketplace for buying and selling hashpower. Help us test the network in beta and earn real BTC hashpower to sell, trade, or mine. 

DeFi should be better – and it’s about to get radically better with 

. Get your free ticket to join RadFi2022 on December 8 and learn what the future holds for decentralized finance. 

Turmoil Reins With Bitcoin Plunging to Two-Year Low and Solana Cratering

 Twelve hours after Binance nixed hopes of a tidy bailout of FTX, turmoil rages in the crypto markets. Digital assets are hitting new lows, a potential savior has emerged in the form of Tron’s Justin Sun, and fears are mounting that more damage is to come as authorities circle the stricken exchange and its sister firm, Alameda Research.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Contagion Wipes Out $10B of DeFi’s Market Cap in 48 Hours

 Don’t blame DeFi. That’s the vibe running through the decentralized finance community as project teams and investors cope with the damage wrought by the 

 of FTX, the centralized derivatives exchange.

 Even though DeFi stalwarts had nothing to do with the practices that sank Sam Bankman-Fried’s high-profile company they have been impacted by the contagion from its demise.

 is the brainchild of Nick Richey, who is not only an award-winning indie screenwriter and director but also the Keeper of Arms of the largest private collection of arms and armor in the world. Knights marries Nick’s love of media and antiquities, resulting in a multi-platform media company on a mission to democratize access to the world of ancient artifacts.

Knights has pioneered photogrammetry techniques to take one-of-a-kind ancient objects and bring them to the metaverse in 3D, bringing you up-close and personal with each sword, rapier, battle helmet, and beyond. The project will kick off with four culture “drops,” each release representing a different ancient warrior culture. Each drop will include a limited release of 2D collectible avatars and 3D collectible artifact NFTs.

This month, the Knights will open the doors to their carefully constructed universe. Token holders will receive a challenge to “Slay The Dragon,” access to a hidden writers’ room with exclusive first-look access to first draft scripts and concept art, and vote on important decisions regarding the collection. To take your first step into the immersive, multi-cultural Knights universe, follow 

Tron Tokenholders Can Redeem Them with Huobi

 While many crypto traders wait with bated breath to learn the fate of their funds trapped on the failing FTX exchange, Justin Sun, the founder of Tron, may be preparing to throw a lifeline to FTX’s stranded customers.

SOL Has Crashed 55% In Rough Week for Crypto

 is wreaking havoc on the Solana ecosystem, with another centralized exchange reportedly halting stablecoin deposits to and from Solana and the blockchain’s 

 protocol hanging on by its fingernails on Tuesday.

Bitcoin Crashes to 2-Year Low Under $16,000

 Binance, the world’s largest crypto exchange, said it is walking away from its 

 to buy competitor FTX, an announcement that sent cryptocurrencies into a late afternoon tailspin Wednesday.

Creator Fees Will Be Optional for New Collections Unless They Ban Fee-Free Marketplaces

 OpenSea, the leading NFT marketplace by volume, will continue to enforce creator fees on its platform for existing collections. This means that, unlike many exchanges which have made royalties optional, the creators of NFT collections already trading on OpenSea will be able to continue to collect royalties on trades.

OFAC Says Sanctions are Part of Effort to Limit Development of Ballistic Missiles

Hello Defiers! Here’s what we’re covering today. But first, we’d like to take a minute to thank our sponsors, who make it possible for us to send out today’s newsletter.

Aave Grants: http://aavegrants.org/thedefiant
Lumerin: https://lumerin.io/thedefiant
...

😬 FTX Crisis Shifts Into New Phase as Contagion Spreads and Investors Scramble for Cover