🦜 DeFi Lender Goldfinch Hits $100M in Loans
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A16z-backed Startup Targets Lending in Developing Economies
By Owen Fernau
FUTURE Crypto is a circular system where whales borrow money against their assets to pump up ponzi schemes and dump those tokens on retail traders betting those coins are the future of finance.
ANGLE That’s one way to think about crypto. Another? Crypto provides loans to people doing business in non-crypto sectors of the economy. Blake West is pushing this angle.
CRYPTO LOANS West is the co-founder of Goldfinch, a platform that “brings crypto loans to the real world.” On April 26, Goldfinch’s loanbook hit $100M. Last February, the protocol had $1M in loans. The milestone shows there’s a dire need for unsecured capital, especially in the developing word, West says.
REAL WORLD “Goldfinch is offering these real loans that are tied to real world activity [and] still has really good yields,” West told The Defiant.
DAOs + NFTs
By Jason Levin
NFT COMMUNITY On Apr. 28, the DeGods NFT community acquired a basketball team in Ice Cube’s BIG3 league. BIG3 had earlier revealed that they would sell ownership stakes in their 12 teams via different levels of NFTs. DeDAO, the decentralized autonomous organization comprised of DeGods NFT holders, purchased all of the top ownership stakes in a team called the Killer 3s.
FAT CATS Rather than selling the teams to “fat cats” as he previously imagined, Ice Cube said letting fans be owners was a “no-brainer.”
FIRE-TIER DeDAO agreed to buy all 25 of the $25,000 Fire-tier NFTs, which will give them a say in the team’s CEO, president, vice-president, and the intellectual property and licensing rights for league-approved merchandise. Additionally, DeGods NFT holders will have access to 500 presale spots to mint a portion of the 975 $5,000 Gold-tier NFTs, which give access to game tickets, merchandise, and team-decision votes.
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A Step-by-Step Guide to Using Liquidity on the DEX
By Arya Ghobadi
DEX Uniswap is a decentralized financial exchange, or DEX, which allows anyone to take part in the financial transactions of Ethereum-based tokens without a central body or intermediary.
SECURITY It’s committed to giving users permissionless access to financial services with security and immutability and without the fear of discrimination or counterparty risk.
AUTOMATED Because it’s built on the Ethereum blockchain and uses smart contracts, Uniswap replaces traditional centralized market tools like exchange listings and limit-order books with automated and permissionless liquidity pools executed purely by algorithms.
POOL A liquidity pool is a crowdsourced pool of cryptocurrencies or tokens locked in a smart contract that is used to facilitate trades between the assets on a decentralized exchange (DEX).Read more about UniSwap here. Here’s a tutorial on how to become a liquidity provider on UniSwap:
Crypto trading and venture capital firm Three Arrows Capital is moving its headquarters from Singapore to Dubai, United Arab Emirates.
The deal may have been signed, but the campaign is just beginning. Elon should go over the heads of the establishment to offer all Twitter users a deal: every account worldwide gains full control over their username in a crypto wallet, plus a share of Twitter's new coin.
Twitter permanently banned Aave founder Stani Kulechov's account on Thursday after the social media giant failed to see the funny side of a tweet.
Crypto Bahamas @CryptoBahamasAn awesome day of panels and meetings with top minds in the #crypto space Now begins another night of fun at #CryptoBahamas https://t.co/vpZGnZXCt5
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Anything But Boring: How Yuga Labs Became a $4B NFT Juggernaut in a Year NFTs are irrational. They don’t make any sense. A JPEG you can instantly copy with a right-click of your mouse? And the cheapest Bored Ape Yacht Club NFT costs 146 ETH, or $416,000? That’s a down payment on a house… a really nice house.
Market Roundup: $APE Surges in a Bummer of a Month for Crypto April hasn’t been kind to crypto. But there is one unlikely bright spot: ApeCoin (APE), the native token for the Bored Ape Yacht Club (BAYC) has surged 37% as investors prepare for Yuga Labs’ upcoming virtual land sale on April 30.
🧑💻 ✍️ 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.
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. Signest, 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)