🦍 OlympusDAO’s Success Inspires Dozens of Forks

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Most Read in The Defiant

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Forking Olympus

🦍OlympusDAO’s Success Inspires Dozens of Forks

LEAD They say imitation is the highest form of flattery. In crypto, this manifests as forks, or copies of a project’s codebase. In that sense, OlympusDAO must be feeling pretty flattered.

FORKS A slew of forks (over 30, according to DeFi influencer mewnyfish) of the OlympusDAO codebase have emerged. 

DEFI 2.0 OlympusDAO’s  protocol-owned liquidity model has been a catalyst for the DeFi 2.0 movement, and its success is inspiring copycats. At a $4B market cap, the project’s OHM token has vaulted into the 50th slot among digital assets as of Oct. 25 after going up over 200% in the last 30 days, according to Coingecko

WONDERLAND Leading the pack of forks in terms of market cap is Wonderland, whose TIME token has gained over 340% in market cap the last 30 days. That has landed it in the 131st spot in terms of market cap among all digital assets as of Oct. 26. 

👉READ THE FULL STORY IN THE DEFIANT.IO👈


Terra Takes A Stand

👀 Terra’s Shade-Filled SEC Lawsuit Signals Crypto is Now Ready to Fight Back

KWON FIGHTS BACK Do Kwon, founder of Terraform Labs (TFL), the maker of the Terra blockchain and Mirror protocol, received a subpoena from the SEC during Messari’s Mainnet conference in September. But Kwon is pushing back.

SEC BREAKING ITS OWN RULES The federal case brought by Terraform Labs via its counsel at Dentons LLP pulls no punches. TFL asks courts to throw out the subpoena as failing to follow the SEC’s own procedural rules and violating the Administrative Procedure Act. The SEC’s media relations director, Aisha Johnson, declined to comment on behalf of the agency.

LAMB TO LION This suit isn’t happening in a vacuum either. Crypto has gotten politically organized. It’s ready to make its pitch for updated laws and regulations. Crypto was a lamb in 2017, but this time it could be a lion. Still, lambs and lions both end up in zoos sometimes.

👉READ THE FULL STORY IN THE DEFIANT.IO👈


Fantastical Yields

🚀Abracadabra To Offer Supercharged Stablecoin Yields By Leveraging Terra’s Anchor Protocol

SALIVATING “Degen” traders are likely salivating at an announcement by DeFi’s rising star Daniele Sestagalli, claiming that they will soon be able to earn high yields from their stablecoins thanks to a new cross-chain, leveraged yield farming protocol.

CROSS-CHAIN YIELDS The Abracadabra founder said today on Twitter that a protocol which connects Ethereum with the Terra blockchain to yield farm with leverage has been tested and deployed. The recently announced partnership with Terra is already taking shape with the imminent launch of Terra’s UST stablecoin as collateral on the platform.

👉READ THE FULL STORY IN THE DEFIANT.IO👈


Vintage Worldcoin

🦍 Worldcoin Is Older Than Ethereum —Just Not the Eyeball-Scanning One

OG WORLDCOIN Two years before Ethereum had even been released, Worldcoin had already weathered a double-spend attack.

WEIRD OPTICS The internet is abuzz about the new Worldcoin because of the big names and numbers, but also because it has weird optics. People are going around scanning people’s eyeballs with these devices that look sort of like the spaceship in Flight of the Navigator and then giving the scannees cryptocurrency.

“This is big tech trying to squash the little guy. They really should have chosen a different name,” someone behind the original Worldcoin’s email wrote to The Defiant.

👉READ THE FULL STORY IN THE DEFIANT.IO👈


SPONSORED POST

Save Yourself from Liquidation with DeFi Saver’s Automation 

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DeFi Saver is one of the essential DeFi apps for advanced portfolio management with tools to instantly leverage up or unwind, self-liquidate or automatically manage leverage, all available for top Ethereum lending protocols such as MakerDAO, Aave, Liquity, Compound and Reflexer. 

Historically, DeFi Saver has been the go-to app for quickly creating a leveraged position to long ETH or any of the other supported assets, with additional options for automatic protection and leverage management. 

DeFi Saver's flagship feature, Automation, can be used for either automatic liquidation protection in market drops, or for automatic leveraging during market moves in either direction, allowing you to run a constant leverage position based on your own configuration. Once enabled, Automation constantly monitors your positions and automatically makes adjustments as soon as needed, trustlessly and non-custodially, allowing you peace of mind while being away from your keyboard and keys. 

Check out their suite of advanced tools at DeFiSaver.com.


DeFi 101

📺 How to WIN at DeFi in 13 EASY STEPS (COMPLETE GUIDE!!!)

In this primer, Robin Schmidt offers some handy tips on how to navigate the ever-changing DeFi sector.


Links

🔗 Photoshop will get a ‘prepare as NFT’ option soon: The Verge

Adobe is launching a system built into Photoshop that can, among other things, help prove that the person selling an NFT is the person who made it. It’s called Content Credentials, and NFT sellers will be able to link the Adobe ID with their crypto wallet.

🔗 Immunefi raises $5.5M to squash Web 3.0 crypto bugs which might cost billions: TechCrunch

There is a massive difference between the existing “Web 2.0” bug bounties and the new era of “Web 3.0” bugs associated with blockchains and crypto. In the era of Decentralised Finance, Web 3.0 bug bounties take on the critical nature of being associated with actual monetary value, not just software bugs.

🔗 Redditors cheer as GameStop assembles team of NFT experts: Cointelegraph

“Future creators won’t just build games but also the components, characters, and equipment. Blockchains will power the commerce underneath,” Gamestop’s Head of Web3 Gaming job listing reads.

🔗 29 Blockchain Gaming Companies Pen Open Letter to Valve: ‘Don’t Ban Web3 Games’ - Coindesk 

A big handful of blockchain companies wrote an open letter Tuesday to Valve, creator of the gaming platform Steam, in a bid to reverse a decision to boot blockchain-based video games from its platform last month.

🔗 First tokenized lawsuit fund goes live on Republic, will distribute on Avalanche: The Block

An “Initial Litigation Offering” is looking to fund a case against a California county by offering a tokenized stake in any resulting recovery.


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🧑‍💻 ✍️ Stories in The Defiant are written by Brady Dale, Owen Fernau, Samuel Haig, Bailey Reutzel, DeFiDad and yyctrader, and edited by Edward Robinson, Bailey Reutzel, 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. 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).