Hello Defiers! Here’s what we are covering today,
The open economy is taking over the old one. Subscribe to keep up with this revolution. Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button below ($15/mo, $150/yr).
🙌 Together with:
Balancer, one of the leading DeFi automated market makers (AMM) for multiple tokens. Dive into their pools at
Kraken, consistently rated the best and most secure cryptocurrency exchange, which can get you from fiat to DeFi
Aave, an open-source and non-custodial liquidity protocol where users can earn interest on deposits and borrow assets.
The DeFi Pulse Index, by Index Coop - DPI is the easiest way to capture the upside of DeFi with the benefit of diversification. Buy DPI today on your favorite DEX.
NEWS Following a major setback yesterday, there is still hope that onerous new tax requirements for the cryptocurrency industry can be addressed before they become law.
SO WHAT That’s the upshot from a day of frustration on the floor of the U.S. Senate when the crypto community got a crash course in the vicissitudes of Washington. Ever since President Biden’s $1 trillion infrastructure spending bill proposed taxing cryptocurrency transactions as an offset, senators on both sides of the aisle have been scrambling to limit the damage. No sooner had a bipartisan compromise been struck with White House support, than Sen. Richard Shelby (R-Ala.) rejected the amendment.
NIGHTMARE Barring an eleventh-hour development, it will be up to lawmakers in the House of Representatives to fix a provision that could force players ranging from protocol developers to miners to stakers to exchanges to collect and report their customers’ crypto transactions to the Internal Revenue Service. That would be a costly, administrative nightmare, they say.
Oasis.app allows you to borrow Dai, the leading Decentralised Stablecoin, against ETH, BTC and over 30 more of the most popular DeFi assets for the lowest rates.
Using Oasis.app, users can now borrow Dai by using their favorite assets like ETH and wBTC from just 0.5% at the time of writing.
“The goal is to make Oasis the easiest and most trusted app to deploy your capital into DeFi, by adding new features, protocols and further improving the UX based on users feedback” - Chris, CEO.
Some of the exciting changes that have happened in the last few months include:
The introduction of Gnosis Safe, so users can add extra security to their Vaults by using their multi-signature feature. This opens the doors to new exciting use cases.
A full redesign, improving the UX to help users easily open new Vaults and group transactions to save time and cost while managing them.
Next steps will be focused on allowing users to increase their exposure to almost all the assets Oasis supports, including ETH and wBTC, allowing users to maximise their potential profits, while also adding downside protection through both EPNS notifications and new automated tools.
FRENZY Last month, one anonymous user spent more than $5M on CryptoPunks in a buy that kicked off a frenzy of NFT sales.
EXCLUSIVE In an exclusive interview, The Defiant’s Camila Russo sat down to chat with the buyer 0x650d, who purchased 88 CryptoPunks for $5.5M in a single block.
HUGE 0x650d gives us the scoop on how he actually planned to purchase 124 CryptoPunks, aiming to buy every single Punk listed for under 30 ETH. He also outlines the process of working with MiningDAO to bundle 88 transactions into a single block and reveals how he managed to make such a huge purchase without spending any gas fees.
The House of Representatives is now the only hope to stop a bill that could kill crypto. Use this form to contact your representatives now.
The Securities and Exchange Commission today announced that Poloniex LLC has agreed to pay more than $10 million to settle charges for operating an unregistered online digital asset exchange in connection with its operation of a trading platform that facilitated buying and selling of digital asset securities.
United States Securities and Exchange Commission Commissioner Hester Peirce, known colloquially as “Crypto Mom,” has slammed the SEC for its $10-million settlement with cryptocurrency exchange Poloniex.
This is a public version of the newsletter and both paid and free subscribers are receiving it.
Free subscribers get:
Daily news briefings
Paid subscribers get:
Full transcript of the weekly podcast interview
Early access to opinion columns and research pieces
Exclusive access to Inbox Dump where we send all the press releases that didn’t make it to the newsletter (Saturday)
Exclusive access to subscribers-only Discord chat
Exclusive access to bi-weekly community calls
✊ Head to THEDEFIANT.IO for more DeFi news 📰
🧑💻 ✍️ Stories in this newsletter were written by Dan Kahan and Owen Fernau, and edited by Bailey Reutzel and Edward Robinson. Videos were produced by Robin Schmidt and Alp Gasimov. Podcast was led by Camila, edited by Alp.
The Defiant is a daily newsletter focusing on decentralized finance, a new financial system that’s being built on top of open blockchains. The space is evolving at breakneck speed and revolutionizing tech and money. Sign up to learn more and keep up on the latest, most interesting developments. Subscribers get full access, while free signups get only part of the content. Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button above ($15/mo, $150/yr).