Red Panda

@thedefiedge Duncan upgrade roflol

🚀 DeFi News and Catalysts for September 7, 2023 🚀 Frax Finance is discussing the release of $sFRAX. It'll allow users to deposit FRAX and earn interest (in FRAX) on their holdings. Uniswap v4 will be live after the Duncan upgrade of Ethereum. Permissionless innovation of DEX pools is the most important upgrade in v4. Gearbox protocol allows users to add leverage to their Curve and Convex positions. Now you can earn over 100% APY on a few of these pools. Raft announced the launch of their V2. It introduces two new features: R Savings Rate & Peg Stability Module. Aave decided to deploy v3 pools on the Gnosis chain. It will have many synergies with GnosisPay and GnosisCard. Arbitrum DAO is discussing a one-time, community-created program to distribute up to 75 million $ARB. Bullish for Arbitrum protocols. Celdra, a rollup-as-service firm, introduced the first three dedicated Arbitrum Orbit Chains. Like OP Chains, we might see a lot of Arbitrum L3s coming. Stargate DAO is discussing its deployment on Mantle & ​Zora. It'll introduce new users to Stargate and expand the dApps on those chains. Akash Network adds Nvidia GPUs to its decentralized marketplace for computing. It's part of the mainnet 6 upgrade. Polygon zkEVM scheduled their first major upgrade, the Dragon fruit upgrade, for September 11th. KTX Finance will deploy on Mantle soon, you can get around ~130% APR, with ~30% paid in BNB. (They use the GLP model). ​ Arbitrum released a testnet for Arbitrum Stylus. Devs will be able to write smart contracts in languages such as C++ while retaining the benefits of the EVM. ecosystem. Krafton, the company behind PUBG, is launching its own Cosmos chain. PUBG has around 294 monthly active players. Stake, a crypto casino, appears to be hacked. They've lost around 41 million dollars. In 2022, they'd made around $2.6 billion in revenue. MetaMask added another feature to its wallet: Sell. The users will now be able to cash out their crypto for fiat currency quickly. Coinbase has created a new crypto lending service in the U.S. for institutional clients. This will fill the void left by now-bankrupt firms like Gensis & BlockFi. London Exchange Group plans to offer a Blockchain-powered market for Traditional Assets. If successful, this will be the biggest catalyst for the RWA narrative. That's it for this week! Engage with this post to show me and The DeFi Edge squad some love.

@BarretMills_ETH @synthetix_defi Silence scammer!

@omooretweets Dateing apps are literally thirst traps for beta males

There are 5+ dating apps that each make more than $100M in annual revenue. And yet, there hasn't been a single friend-finding app to reach massive scale 🤔 Why products with a stated goal of "making friends" will (probably!) never work ⬇️

@sassal0x How do you make tards like sailor see that Bitkoin is ded and that there are better alternatives put there. I sincerely feel bad for the guy and his shareholders

Gm bulls and happy Monday - I know that it may seem dark and gloomy in the markets right now, but there are always bright spots (especially on longer time frames) and I'm here today to share some with you. Alright so here's how I believe the next 12-18 months are going to play out in crypto. Overall what's going to get the next bull market started (and get us out of this crab rut) is simply timing + narratives - the good news is that we have both working in our favor over the next 12-18 months. Time-wise we are basically right on schedule for the 4 year cycle to play out again (just compare 2019 to 2023 - the similarities are uncanny). Of course, ETH and BTC could still fall some more from here, but it is my view that we are in an accumulation range - not a distribution range. On the narrative front we have so much going for us but it is sadly being drowned out by the negative/boring price action - as we all know, price action is what drives sentiment - no matter how good the narrative/news is. Okay, so what are the bullish narratives? Well I tend to divide these into 2 categories - the "outsider bullish" narratives that the non-crypto world can rally around and the "insider bullish" narratives that crypto natives can rally around. Of course, crypto natives can also rally around the outsider narratives. Here are the outsider bullish narratives: - Bitcoin halvening in April 2024 (always a fan favorite) - Potential ETF bonanza (if they are approved it'll probably be in Q1/Q2) - Grayscale ETF conversion announcement could come sooner though - ETH staking becomes very attractive to TradFi because of the passive income/yield - Some positive U.S regulatory stuff (such as the stablecoin bill) but also more positive regulations outside of the U.S - TradFi companies keep playing with/adopting crypto (like Visa and PayPal have) The insider bullish narratives: - Overall 4 year cycle timing is still playing out nicely and only maybe gets invalidated if 2024 is another crab year imo - BTC actually pumps again after the halvening (keeping the trendalive) - Layer 2's continue taking off and we get a proper layer 2 summer (brings in new money) - Decentralized social platforms actually start taking off and bring more people onchain - ETH's drastically improved supply dynamics (The Merge + burn) play out in a huge way once demand comes back leading to fomo - DEX volumes become just as dominant/flip CEX volumes (brings more people onchain) - ETH burn goes nuts and we go giga deflationary (new money would love this narrative) Some of you may be wondering how "the macro" plays into all of this and well, I don't personally really consider the macro when looking at crypto markets. I think crypto is still too small to matter that much in a wider macro context and nothing that has happened this crypto bear market is different to what happened in previous crypto bear markets (ETH and BTC went down 80-90% and everything else went down 90%+ which is totally normal for crypto). In saying that, there is still a bullish macro case to be made here if that's your thing - that case is that inflation keeps trickling down towards the fed's 2% target and remains there for the foreseeable future. This would kick off the narrative that the fed will start cutting rates again at some point (maybe late 2024/into 2025). Though by the time this happens, I would bet crypto is already in a bull market and has front-run this completely. Of course, none of this should be taking as investment/financial advice and I could be completely wrong on all of this - but this is what investing is. You formulate a thesis, take position(s), wait for that thesis to play out, and hopefully profit from the positions you took - but not every thesis is correct! Cheers to the next 12-18 months - let's make them as bullish as we can!

@zackvoell While eth is at 4 digits we're cruising nicely

Shills are spending nights in jail. Influencers are doxxing grandmas. VCs are calling retail users “sewer rats.” How much worse can it get?

@wclemente Mmm my banks will take a nice cut of this madness

Credit card debt over $1 trillion for the first time ever This is fine

@karbonbased Gud luck on your dump

I did some math on the Friend Tech airdrop 50% of supply airdropped 2b FDV Only 200 users 1 airdrop = $5m Incredibly bullish Faders might actually ████ themselves

@zachxbt @X @premium This scam app for s literally promoting scams while Elon tries to parade himself as a white pony in this space. It's all so sickening...

Hello @x @premium the phishing scam spam from fake verified orgs on Twitter has gotten out of control. These 12 accounts are all just from the past 48 hrs alone. Verified orgs were intended to make it harder for scammers but it has just created a new black market for accounts with no way for us to report and take down these accounts easily.

@0xfoobar Lol didn't you try to scam people with your splitting contract? Not sure there's much transparency in this space anymore...

@zachxbt Uh oh

Community Alert: Magnate Finance on Base will likely exit scam in the near future currently with over $6.4M TVL. The deployers address is directly linked to the Solfire $4.8M exit scam.

@icebergy How do you know it's someone's grandma?

doxing someones grandma might be one of the lowest things ive ever seen on this site

@sassal0x Bullish Australia?

I've attended 2 local crypto meetups in the last week and the vibes are just so completely awesome. I even had a very healthy conversation with someone who works at the Solana Foundation! It should be obvious, but in-person conversations are where the real alpha is.

@poordart These meme coins are getting desperate

7 books to know me Harry Potter and the Sorcerer's Stone Harry Potter and the Chamber of Secrets Harry Potter and the Prisoner of Azkaban Harry Potter and the Goblet of Fire Harry Potter and the Order of the Phoenix Harry Potter and the Half-Blood Prince Harry Potter and the Deathly Hallows.

@awawat Why not? Free speech something something

Was wondering what's the reason for having both USDC and USDC.e on Arbi? (some protocols like Radiant only use USDC.e)

@Smolanaaa @NorthRockLP $UNI would like to have a word with you ser

@arthur0x Polygon already has a native token lol

If Polygon zkEVM launched as a separate L2 with native token. The market would have value it at $10b at least with its superior zk-rollup tech but now you can own it for less than $7b FDV and very little unlock pressure going forward.

@KatieePCrypto Roflol. Your Gucci daddy is confirmed scammer and you keep promoting your bags. Not sure if you're a bot or just a clueless simp

JUST IN: Vitalik has publicly stated every Layer2 and rollup on ETH currently has a back door incase there is any bug in a protocol, CENTRALIZED. PulseChain fixes this. Immutable ledger technology, consensus is secured by over 35,000 community run validators around the world. A truly decentralized layer1 Blockchain designed to help reduce ETH gas fees. PulseChain cannot be stopped. $HEX

@0xfoobar In fact it's 2x as good. The math checks out ✅

@Erikcason You do understand that smart contracts aren't a part of the core protocol right? You are able to say whatever you want and that's the beauty of expressivity

Imagine thinking that this is a win rather than understanding that eth is clearly backdoored and controlled by states. I guarantee people will be getting their stablecoins seized, frozen, and stolen by the USG and friends on a protocol level.

@HodlMagoo @DamnYeahCrypto @RyanSAdams Do you know why Ethereum was created?

@DamnYeahCrypto @RyanSAdams Do you know why Bitcoin was created ?

This is the Ethereum contract address for PayPal's stablecoin. I can't believe i get to tweet that. We've come so far.