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Billionaire Ape Yacht Club

While the NFT market itself may be in the midst of a mini-bear, the energy and money pouring into the space shows little sign of slowing down.

See, for instance, Yuga Labs, the company that created the ludicrously successful Bored Ape Yacht Club NFTs

Tekin Salimi, has a twist on the venture capital fund: it should convert to a DAO

The post Former Polychain Partner Charts Radical Course for New $125M Venture Fund appeared first on Blockworks.

Bitcoin is nearing $43,000, up 3.5% today on intense speculation that Terra, a stablecoins blockchain, is to buy $3 billion worth of BTC. Do Kwon (pictured), the South Korean Terra’s...

In the past few years, DeFi applications have seen tremendous growth. At the start of the year 2021, the Total value locked (TVL) in DeFi applications was used to be around 18 billion dollars. Currently, TVL in DeFi applications is around 200 billion dollars, which is more than 10x of the TVL of January 2021. Total unique DeFi wallets are 4.3 million right now, more than 4x the unique DeFi wallets of January 2021.  Various DeFi applications provide financial services like lending & borrowing, trading, prediction markets, yield farming, etc. Still, there are only a few million DeFi users, and the Anchor protocol of Terra Ecosystem wants to change it. Team of Anchor Protocol believes that a saving product is required for the mass adoption of DeFi applications.  Anchor is a saving protocol that offers low-volatile yields on deposits of Terra Stablecoins. The Anchor interest rate is powered by staking rewards from Proof of Stake blockchains, and therefore more stable rates can be expected. Anchor Protocol makes a money market between a lender and a borrower.  Lenders can earn stable yields by depositing their Stablecoins while borrowers can borrow stablecoins on their stakeable assets. According to the protocol-defined borrowing ratio, borrowers can lock their bonded assets (bAssets) as collateral and borrow stablecoins. Currently, Bonded Luna (bluna) and Bonded ETH(bETH) are the only two bonded assets that can be put as collateral for borrowing stablecoins.  The stream of staking rewards comes from borrowers’ global pool of collateral. These staking rewards are converted into stablecoin, which are given to the lenders in stable yield.  Tokenomics of Anchor Anchor Protocol’s governance token is the Anchor Token (ANC). Users who have staked ANC tokens can propose new governance polls, which can be voted on by users who have staked ANC tokens.  ANC token is designed to increase its value linearly with Anchor’s assets under management, allowing it to capture a piece of the protocol’s yield. Anchor provides protocol fees to ANC stakeholders proportionally to their stake, benefiting stakeholders as adoption of Anchor grows. ANC stakeholders are driven to suggest, discuss, and vote for proposals that improve the protocol. ANC Value Accrual The buying pressure increases proportionally as ANC tokens grow in lockstep with Anchor’s Assets Under Management. Protocol fees are used to buy ANC tokens from Terraswap, which are then paid to ANC stakers as staking rewards.  Protocol Fees  ANC captures protocol fees created by Anchor, with 10% of the value flowing into the yield reserve being used for the value accrual of ANC tokens. bAsset rewards, excess yield, and collateral liquidation costs are used to fund Anchor’s protocol fees. basset rewards A portion of the rewards from deposited bAsset collaterals is used to buy ANC, with the rest going into the yield reserve. If the yield reserve’s inventory reaches a sufficient amount, governance can modify the ratio of bAsset rewards utilised for ANC purchases. Excess Yield Deposit rates higher than the target deposit rate are stored in the yield reserve, with a portion of it utilised to purchase ANC. The ANC tokens that have been purchased are subsequently given to ANC stakers. Collateral Liquidation Fees When a loan is liquidated, 1% of the liquidated collateral value is sent to the yield reserve, with a portion going into ANC purchases. This cost is not included in the bid premiums. Governance Fees ANC token deposits of Anchor governance polls that have failed to attain the needed quorum are then allocated to ANC stakers as staking rewards.   At the start of the Anchor Protocol, 150 million ANC tokens were released. Fifty million (33.3 percent) tokens were airdropped to LUNA stakers, with staked amounts snapshotted at block 2179600.  One hundred million tokens (66.7 percent) were set aside for the Anchor Community Fund. Final Token Distribution A total of 1,000,000,000 ANC tokens will be distributed over four years. No more new ANC tokens will be added to the supply once this quantity has been distributed. Various methods to earn money with Anchor:  Depositing UST is a simple way to earn money with Anchor. The protocol project itself as a savings product and provides a 20% annual percentage yield (APY) on deposit.  Users can borrow UST by putting their bAssets, i.e. Bonded Luna (bluna) and Bonded ETH(bETH), up as collateral.  Users can also buy and stake ANC to receive staking rewards and participate in governance.  You can also earn rewards while at the same time providing liquidity to exchanges by staking your LP tokens (ANC-UST LP). Conclusion Anchor is the leading DeFi protocol of Terra Ecosystem. Currently, 13 billion dollars worth of assets is deposited in the protocol. Its goal is to become a stable saving solution for DeFi users, providing passive income. Anchor has an easy to use interface, which will be helpful in onboarding millions of … Continued

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Treehouse, a Web3 company transforming on-chain data into meaningful metrics to help decentralised finance (DeFi) investors make informed financial decisions, announced an US$18 million seed round raise. An undisclosed investor

The post Web3 Startup Treehouse Raises US$18 Million in Seed Funding appeared first on Fintech Singapore.

March 15, 2022       /       Unchained Daily       /       Laura Shin Join My Private Discord By Purchasing an NFT! I recently launched a private[...]

The post The EU Rejects a ‘Bitcoin Ban’ appeared first on Unchained Podcast.

The CEO of Terraform Labs Do Kwon has wagered $10 million on the price…

The post Terraform Labs CEO Do Kwon bets $10 million on LUNA price appeared first on Coin Journal.

Terraform Labs CEO Do Kwon has finalised a bet with a crypto personality named GCR to the tune of $10 million.

The post Terraform Labs CEO Do Kwon seals $10 million bet over LUNA price appeared first on The Block.

Terra's founder and a leading critic are squaring off with a $1M bet on LUNA.

Terraform Labs, the company behind Terra blockchain has announced an additional donation of 12 million LUNA or approximately $1.2 billion to the Luna Foundation Guard (LFG) that will be directed towards its growth and stabilization to maintain the UST dollar peg. Do Kwon, the CEO of Terraform Labs, announced on Twitter that the funds will be utilized to burn and mint its UST stablecoin in order to grow the reserves of the Luna Foundation Guard. TFL has donated 12M additional $Luna to @LFG_org. https://t.co/KOqaABKWZi The funds will be burned to mint $UST, and thereafter used to grow LFG's reserves. At current prices, this reflects another 1.2B incoming addition to the $UST reserves. 🌕 — Do Kwon 🌕 (@stablekwon) March 11, 2022 UST is an algorithmic-based stablecoin in the Terra ecosystem with an exchange rate of 1:1 with the U.S. dollar and is in part maintained by swapping of/for LUNA tokens when its market value deviates from its peg. The burning of $1 in UST results in the minting of $1 in LUNA and vice versa. The purpose behind the recent move is to maintain the stability of UST and its peg to the U.S. dollar. While other stablecoins manage to maintain this peg using various systems, UST relies on its relationship with LUNA, and the arbitrage opportunities that the treasury offers to traders. Earlier last month, the Luna Foundation Guard (LFG) raised another $1 billion through its sale of the LUNA token to build a bitcoin-denominated foreign-exchange reserve for UST.

The post Terraform Donates Additional $1.2B to the Luna Foundation Guard appeared first on Cryptoknowmics-Crypto News and Media Platform.

Coin prices are on the downtrend once more, despite the ensuing 24-hour gain. Still, investors remain confident – even with DAO tokens.  Decentralized Autonomous Organizations [...]

The Terra blockchain’s total worth has surpassed $30 billion. LUNA prices have risen approximately 70% in the last week, due to excellent fundamentals and community [...]