My Crypto World: July 16, 2021

It’s been a big week in cryptocurrency and for myself — I thought it would be good to reflect a little here.

My new role at Adamant Vaults

I’ve recently taken on the role of Community Manager at Adamant Finance. The community and team there are amazing and I am very excited to start there helping with community management, moderation, business development, and more. Congratulations as well to adamb on his new role as web developer. Come say hello on the Discord!

Locking ADDY for boosted rewards

In related news, Adamant recently revealed our new locking rewards system. You’ll now be able to lock up ADDY for up to four years and receive the following benefits:

  • Distribution of ADDY rewards from a new buyback program (more news soon)
  • WMATIC rewards
  • Boost points to amplify your vault rewards of ADDY

Sushiswap investor proposal

The cryptoTwitter world is abuzz with the latest proposal from Sushi to sell their governance and fee-sharing token to certain VCs at a 30% discount. The community has largely been opposed to the move believing it will ultimately harm Sushi as the discount and terms are not advantageous to the community.

Big market downturn

It’s pretty bearish out there. At the time of writing BTC has fallen 7.32% on Polygon, Ethereum 12.89%, and MATIC 23% from the week prior. This market action into the weekend is not a good sign for an upturn after several weeks of sideways actions. Now kinda feels like a great time to get into stablecoins. Adamant Vaults offers several stablecoin vaults with ridiculously high APRs:

  • IS3USD, 47.78% APY
  • USDC/DAI, 18.46% APY

Jack Dorsey announce Ether — err Bitcoin development project

The CEO of Twitter, Jack Dorsey, wrote this week they would be introducing a new business “focused on building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services”. To everyone’s surprise, he was not referring to Ethereum and instead will focus on Bitcon. Good luck, Jack!

Qi DAO: they just keep building!

The Qi DAO’s has recently introduced a number of new features:

  • The first vote since Qipowah was introduced? How to distribute 30% of the fees from the community’s protocol. The vote is neck and neck between distributing in whatever form the fee was paid in, or using the fee to buy more Qi and distribute that to Qi stakers.
  • Finally, the team recently announced a weekly vote will be held on new collateral types that the community can use to mint MAI. These new vaults will also come with incentives to take out a loan on the collateral. That’s a loan that pays for itself really. You can learn about the process here.

I swear to God if you tell me to “Slurp up that dipperino!” one more time…