🖼 SuperRare Drops Token Amid Series of Moves to Empower Artists
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TLDR SuperRare, the influential NFT art platform, is taking a big step forward in its plan to progressively decentralize with the launch of its RARE token on Aug. 17. As part of a slew of changes, SuperRare is poised to bestow more control to artists.
AIRDROPPING The new token rocketed more than 235% on Tuesday and Wednesday before bouncing around in the $1.30 to $1.40 range in early-afternoon trading New York time on Wednesday, according to CoinGecko data. SuperRare is airdropping 15% of the 1B RARE supply to artists and collectors. At the token’s current price, that’s a distribution worth approximately $200M. There are already more than 4,500 RARE holders, according to Etherscan.
NEWS Layer 1 blockchains are making extraordinary offers to attract DeFi protocols and juice liquidity. It was Harmony earlier this week, and now it’s Avalanche. The Avalanche Foundation is offering $180M in liquidity mining incentives to bring more apps into its DeFi ecosystem.
CURVE The first recipients? Users of the Avalanche-deployed versions of lending platform Aave and automated market maker Curve Finance. Avalanche has committed $20M of its native AVAX token for Aave users and $7M for Curve users over a three month period.
SO WHAT Investors seem to like the move — AVAX is up 42% in the last 24 hours, at $33.22 in early-morning trading NY time, according to CoinGecko data. Curve has also deployed to Polygon as well as Fantom, which could bolster market share and trading fees.
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📺 First Look: How to lend and borrow NFTs with reNFT
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🧑💻 ✍️ Stories in this newsletter were written by Brady Dale, Owen Fernau and Juan Pellicer, and edited by Camila Russo, 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).