Shitcoin Newsletter #106 - Do you get high on the fi?
Happy Friday Shitcoiners,
As the week’s go by the DeFi terminology gets weirder. Keep reading for the latest from decentralized finance, the lowdown on Sushi and Bitlord being drunk. We have it all. To kick us off, have you been getting high on the fi?
We definitely don’t feel sorry for the teenagers understanding this shit. While we had to make do with Runescape gp they get to drop $10 on Uniswap fees with the prospect of it turning into a lambo.
Don’t believe large sums of money can be made? Read this hilarious thread from one guy who turned 0.5 ETH into 740 ETH due to a smart contract bug.
As we learnt last week, Sushi had a bit of a nightmare with “the Chef” withdrawing funds set aside for development and sailing into the sunset.
The community reacted.
Others were not so understanding.
This fiasco was so hot even Adam Back got involved.
As Jesse pointed out, couldn’t we have done more research and predicted this would happen? The script was already written.
There was a plot twist however, as Nomi decided to transfer the keys to Sam Bankman-Fried of FTX. He would be our temporary chef (even if the funds were never returned).
Arthur tweeted a plea for help.
And Sam did what he said he would, he successfully migrated.
Here’s an interesting interview with Maki, who was involved in the project from the beginning and who will actually be taking over the project going forward. A pretty insightful read.
Remember guys, he did this for you.
Speaking of DeFi, Max Keiser was keen to point out that some of these DeFi projects may not be all that they seem.
Now to Bitcoin Cash. With the upcoming fork looming Roger is going hard on the marketing.
Adam couldn’t help but jump in.
We round this one off with two pieces of advice. Number one, be more like Crypto Bitlord.
Number two, remember to wrap your precious assets.