🦉 Carson’s Sudden Exit from Moonbirds Team Leaves NFT Investors Miffed
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Proof Collective Alum Takes Flight with New NFT Fund
LEAVING Ryan Carson, the chief operating officer of the Proof Collective team that launched the Moonbirds NFT collection on April 16, is leaving to start an NFT fund. The new venture,1.21 Gigawatts Fund, touts itself as “the fund you wish you could go back in time and invest in.”
COMMUNITY Carson’s departure was not well received by the NFT community.
FLOOR PRICE The Proof team, led by serial entrepreneur Kevin Rose, has become the toast of NFT town after the spectacular success of Moonbirds. The NFT collection boasts a floor price of 30 ETH ($87,000), twelve times the mint price of 2.5 ETH, just 10 days after its launch.
Automated Market Maker Positions NFTs as Tradable Assets
By Owen Fernau
NFT TRADING The financialization of NFTs continues. The latest development is the deployment of an automated market maker (AMM) called sudoAMM, which is specifically designed for NFT trading. It’s slated for Ethereum’s mainnet and is designed to be a piece of infrastructure for other NFT projects.
CONTRACT “We’re testing in prod atm for the [user interface]” 0xmon, the project’s co-founder, told The Defiant. The pseudonymous developer posted a transaction on Twitter, which used the contract deployed on April 24. Gem, an NFT aggregator which OpenSea acquired this week, has already integrated sudoAMM’s contracts, according to the aggregator’s lead developer who goes by Vasa.
COMMITMENT SudoAMM allows users to deposit either ETH, NFTs of a certain collection, or both, with a custom bonding curve. This lets users set up limit orders for by deploying ETH into a pool with an on-chain commitment to buy NFTs of a specific collection at a chosen price.
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By Owen Fernau
GOVERNANCE Layer 2 season is upon us. Optimism, a Layer 2 (L2) network designed to scale Ethereum by executing transactions off the main chain, is launching the “Optimism Collective,” a bicameral governance system which will be tasked with increasing demand for the network.
PUBLIC GOODS One of the two houses of the collective will be governed by Optimism’s new OP token, which will be airdropped to early users. Qualifying activities include making transactions early or often on Optimism, and also actions unrelated to the L2 like Gitcoin donations, which facilitate public goods funding.
INCENTIVES The Token House, as the token-governed branch of governance is called, will be able to vote on “protocol upgrades and project incentives as part of a Governance Fund,” said Optimism’s post outlining the new governance system.
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Brokerage app company Robinhood has laid off "approximately 9%" of its global staff, according to a blog post from the firm's CEO Vlad Tenev.
Last week the European Parliament voted to advance a version of the Markets in Crypto Assets (MiCA) Bill. The chosen version omitted language that would have effectively banned proof of work-based cryptocurrencies.
On-chain data platform Nansen is dipping its toes into the blockchain gaming waters, leading a $1.27 million seed round for Web 3 gaming startup ZeroDrop.
Trending in The Defiant
OpenSea’s Deal for Gem a ‘Hell of an Upgrade’ for Leading NFT Marketplace OpenSea, the most popular site for buying NFTs, has made an acquisition of its own. On Apr. 25, OpenSea acquired Gem, an NFT marketplace aggregator.
TRON’s Sun Vows to Rock Stablecoin Market With his Own $10B Play Justin Sun, the provocative founder of TRON with a taste for drama, is at it again.
Black Pilled at Bitcoin 2022: Do We Know What All This Is For? As I’m watching men struggle on the mechanical bull (thinking, shouldn’t they only be using one hand?) at Bitcoin 2022 in Miami last week, a thought from the deep recesses of my mind emerges: What is all this for?
🧑💻 ✍️ Stories in The Defiant are written by Owen Fernau, Samuel Haig, Jason, Levin, DeFiDad, and yyctrader, and edited by Edward Robinson, yyctrader, and Camila Russo. Videos are produced by Robin Schmidt, Alp Gasimov and Daniel Flynn. Podcast is led by Camila, edited by Alp.
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