Market Brief – 8th July 2022
Here's the latest intelligence on the tokens and markets that are contributing to and growth of the Tokenised Earth Economy and relevant to ReFi.
This weeks highlights:
- Voyager Digital files for bankruptcy - estimated to be owing somewhere between $1 billion and $10 billion to more than 100,000 creditors!
- Delphi Digital report finds there may be more pain.
- The Italian government offers subsidies to blockchain projects. $46 Million is available!
- Sequoia Capital’s new massive fund. $9 Billion in fresh new capital!
- Fed sees no reason to rush CBDC.
- FOMC meeting minutes reflected participants’ concern about rate increases having the potential for a “larger-than-anticipated” impact on economic growth.
📈Reference Markets over the past week
BTC The OG of cryptos | +7.1% $21500 | What happens when all 21 million BTC are mined? See this thread from Reddit in 2011! |
ETH The king of Alts | +13% $1224 | Validate ETH 2.0 with under 10 watts? |
ATOM Interoperable Blockchain Chain | +29.5% $9.55 | ATOM surges on Thorchain announcement! Trade ATOM for Native BTC on Thorchain. |
OSMO Yield Farming on cosmos | +13% $0.89 | Membrane is launching on Osmosis in September. Membrane is a CDP (collateralized debt position) protocol that produces an asset with dampened volatility (like RAI) instead of a pegged stablecoin. |
JUNO Smart-contracts on IBC | +17% $2.96 | Junoswap to go live on Keplr at the next release! |
📊Impact Markets over the past week
REGEN Ecological State Ledger | +16% $0.23 | The enDAOment program is an initiative to bestow 30% of $REGEN token holding power to marginalised communities addressing socio cultural issues in ecology, economics and tech. Read more about the first cohort of participants here! |
IXO The Layer 1 for Refi Projects | -11.8% $0.04 | Check out this great podcast episode with Citizen Cosmos and the ixo team, illustrating the ixo vision and ecosystem. |
CELO Seigniorage stablecoins collateralised by crypto and natural assets. | +9.1% $0.96 | Build a dApp in under 5 minutes on CELO! |
BCT Toucan Protocol: Base Carbon Tonnes | -2.2% $1.92 | Catch up on this Twitter Space where they spoke to Craig Wilson, lead at Celo! "How do we get more climate people that are crypto-curious to dedicate their time & energy to the space? How do we demonstrate that it is a valuable space to be in?" - @CGeoffWilson |
DOVU Moving carbon from the sky into the soil. | -12.9% $0.004 | Connect to their carbon calculator to make it easier than ever to offset your crypto carbon. Try it here. |
📉DAO Shares over the past week
ℹ️ Remember that DAO’s with a rebase mechanism should be valued on their treasuries, and market cap increases are a more important metric than token prices, as high yields try to outpace price fluctuations.
KLIMA DAO Carbon Credits as its treasury | -0.6% $3.18 Treasury: 18,131,600 TONNES CO2 | Klima Infinity is an ever-growing ecosystem, including Polygon, who have retired 104,794 tonnes of tokenised carbon credits. Every Polygon network transaction - whether an NFT mint or DeFi swap, is carbon neutral. |
Olympus DAO The largest DAO built on Ethereum | +7.4% $14.32 Treasury: $219 million | They are proposing a three-pronged partnership with Aura Finance. Learn more about the proposal, and join in on the discussion here. |
Gitcoin DAO GTC - Platform to find meaningful open-source work | -13.8% $3.30 | Read the first edition of their new Gitcoin Grantee Showcase, a new production of GitcoinDAO’s content marketing team. First highlighted grantee is RicMoo (Richard Moore), author of ethers.js. |
PrimeDAO DeFi Tools DAO | +2.1% $0.28 | Create an open proposal on Prime Deals to get connected with your potential partners and start testing the waters. Partnering with other DAOs is a great way to flourish in Web3! |
Earth State Snippets
- Collective Intelligence. Diving into the ideas of composable local control, Kevin Owocki interviews Diya Siddarth and Raymond Zhong of Verses, and this is a conversation that challenges old paradigms!
This episode might change how you feel about institutions and a few new vocab words like subsidiarity and preconfiguration. Take the green pill anon.
- Low-Carbon Sushi. KlimaDAO and SushiSwap will enable traders to offset the carbon emissions of their exchange transactions on the Polygon network. A governance proposal outlining the partnership closed this week, with over 99% of vote support.
- Nigerian forest comes on-chain. The Worthy Association for Tackling Environmental Ruins (WATER) is an NGO that helps manage the Ekuri forest in Nigeria. Open Forest Protocol has launched this community-based forest project as a new "project operator," with 20,000 hectares that will be transparently monitored through their platform.
Present and future generations remain grateful to OFP for showing Ekuri the solution in carbon financing - Godwin Akamo.
🌍 For the Earth!
Earth State change is unstoppable, and so is the evolution of the crypto market!
Join the weekly Earth State Twitter Space every Tuesday at 15:00 UTC, where we discuss what's moving in ReFi and the Tokenised Earth Economy.
This article is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. For tax advice talk to your accountant. DYOR – Do your own research.