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:
- Autocompounding ADDY rewards from those exiting early
- Distribution of ADDY rewards from a new buyback program (more news soon)
- WMATIC rewards
- Boost points to amplify your vault rewards of ADDY
Learn more about these new locks features here.
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.
Read more on the proposal and response here.
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:
- MAI/USDC, 67.78% APY
- IS3USD, 47.78% APY
- USDC/DAI, 18.46% APY
Learn how to make a pair and start auto compounding with those here.
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:
- Qipowah: Qi is the native token of the DAO and is used for governance choices. Holders can vote on QIPs to improve the protocol. When holders stake their Qi they boost their voting power. That’s Qipowah, baby!
- 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.
You have some news, or want to see me write on a subject? Let me know here via a response. Until next time!
About Revolutionary Spaces
At Revolutionary Spaces I bring the latest news, discussion, and how-tos on the DeFi world, especially on Polygon. I love helping folks out and can usually be found on the Discords for Adamant Vaults, the Qi DAO, and Balancer Protocol. I am currently looking for opportunities in crypto related to product management, documentation or technical writing. Reach out!
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