Shitcoin Newsletter #102 - The DeFi Wild West
The bull is well and truly back! As are the 2017-esque Wild West stories we all know and love. This week we saw DeFi, Yam farming, Serum pumping and more. Yee-haw!
It all started with some Ethereum shenanigans. How many of those Ether are actually out there?
Coin Jazeera with the full report.
Despite the Ethereum madness, that didn’t stop the DeFi farmers from coming out in full force. Lots of honest work was done as the $YAM “monetary experiment” saw farmers send $460 million into it. The farming began.
In a plot twist. The experiment experienced a rebase bug which saw the market cap plunge.
One of the guys behind the project voiced his grief.
In all honesty, we aren’t DeFi hoes so we definitely needed a better breakdown. MyCrypto provided.
After all of that madness we saw another DeFi project get PWND. This time CurveFinance saw someone launch their code before they did. Confused? We are too.
Anyway, this is the Wild West after all, so with that in mind it would only make sense that Binance would begin the pumping… and the official project Twitter account would respond with “OMFG”.
In other DeFi news, Serum (SRM) launched on the Solano blockchain. FTX’s venture into DeFi saw their token pump hard, 1500% in 12 hours… with more gains registered in the day that followed.
All in all, those FTX guys seem pretty chill.
Now enough of all that decentralized finance, here’s Barry with an ad!
The Winklevoss twins also did their bit and told Dave Portnoy about Bitcoin. He is seen here buying some LINK. Classic.
To round off this week’s newsletter here are some amazing cartoons for you. They aren’t really crypto-related but we can imagine they will both find their way into the crypto-sphere in the very near future.