🦄 Recap: DeFi Week of April 5

Hello Defiers! Hope you’re having a great weekend. Summing up the past week: The biggest DeFi news of the week was Fei Protocol’s $1.3B token sale, which went awry as its governance token sold off after the first buyers immediately cashed out, while the project’s stablecoin was unable to hold its peg, and because of its incentive mechanism, punished anyone who wanted to sell it. The biggest news in crypto was Coinbase releasing first-quarter results ahead of its April 14 IPO, with revenue and users that will make crypto even harder to ignore. We covered how NFTs are becoming a major source of income in developing nations via games like Sorare and Gods Unchained, and how fractionalized NFTs and funds of these unique tokens are making them more accessible.

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