Hello Defiers! Here’s what we’re covering today:

News

Terra and Fantom Are Pumping Even as DeFi TVL and Ethereum Burn Rate Drag
Anchor’s TVL Surges to All Time High of $11.7B After Luna Foundation Refills Reserves
Ukraine Makes Crypto History With Airdrop and Leaves Tron’s Sun Fuming

Podcast

🎙Listen to the exclusive interview with Gavin Wood:

Video

Quick Take: The Ukraine Airdrop - is this for real?

Links

Handpicked by The Defiant Team

Russia’s Invasion Triggers 6% Premium on BTC-Ukrainian Hryvnia Trade
Scaling Breakthroughs and a Thriving Culture: Here’s What I Learned About the State of Web3 at ETHDenver
NFT Collectors Love Space Doodles Imagery But Not Its Confusing Valuation Model

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).

Subscribe now

🙌 Together with:

Verse Network by STP, is a Layer 2 for DAOs. Redefining value one DAO at a time.
Eden Rocket RPC, providing the fastest private transactions on Ethereum (90%+ hashrate). Trade better anywhere on Ethereum with Eden Rocket RPC.
Zerion is Mission Control for Web3: an intuitive DeFi portfolio manager, multichain tracking & trading and the best place to show off your NFT collection
Unstoppable Domains, the #1 provider of NFT domains. Own your name on the internet and web3. With no renewal fees you own it for life. Get yours today!

Market Action

🌊 Terra and Fantom Are Pumping Even as DeFi TVL and Ethereum Burn Rate Drag

By Samuel Haig

DOUBLE-DIGIT GAINS DeFi tokens are rallying. Terra is up 54% in the last seven days, and Fantom has spiked 21%. Indeed, six of the top 100 by market cap are up by more than 50% over the past seven days, and 40 are enjoying double-digit gains for the week according to CoinGecko. The combined DeFi market cap is almost $122B after slipping below $100B on Feb. 22.

TVL Yet the growth of the sector’s total value locked (TVL) has been more modest, with Ethereum and Solana up just 5% from their respective local lows, while Binance Smart Chain and Polygon have bounced by 3%, according to DeFiLlama.

QUESTIONS Ethereum’s burn rate has also plummeted, currently sitting at 3.68 ETH per minute on average for the past week — a drop of more than two-thirds from its January highs. So is DeFi activity declining? Or has it migrated away from the chains that drove the 2021 boom for decentralized finance?

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Luna Ecosystem

⚓️ Anchor’s TVL Surges to All Time High of $11.7B After Luna Foundation Refills Reserves

By Brady Dale

LOCKED With $11.7B in funds locked in, Anchor now has more funds committed to it since the savings application launched on Terra last year, according to DeFiLlama.

RESERVE This is a turnaround from January, when depositors started leaving because it looked as though it might not be able to meet its roughly 20% fixed yield for those using it to grow their savings. That generous reserve was insured by a yield reserve that covered the difference when cash flows didn’t, a reserve that looked like it could run out as it fell by $2M every day.

YIELD In early February, though, the protocol sought a $450M contribution from the Luna Foundation Guard to refill its reserves. Those new reserves were turned over to the Anchor yield reserve on February 18, according to Terra.Engineer. Anchor reserves now sit at $476M (in TerraUSD), as the reserves continue to shrink by the same amount, about $2M per day.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Ukraine Fundraising

🇺🇦 Ukraine Cancels Historic Airdrop to Aid Embattled Citizens and Opts for NFTs

By yyctrader

CASH No sooner had the Ukrainian government unveiled an unprecedented airdrop to fund aid for its embattled citizens than the plan was scrapped in favor of utilizing NFTs to raise much-needed cash.

CANCELED In a tweet Thursday, Mykhailo Fedorov, the vice minister of Ukraine, said the airdrop was canceled. “Every day there are more and more people willing to help Ukraine to fight back the aggression,” he said. “Instead, we will announce NFTs to support Ukrainian Armed Forces soon. We DO NOT HAVE any plans to issue any fungible tokens.”

SCRAMBLING The about-face comes as a number of blockchain-based projects are scrambling to use cryptocurrencies and applications to speed aid to Ukrainians besieged by the Russian invasion ordered by President Vladimir Putin last week. Polkadot and Tron have jockeyed to get Ukrainian leaders to accept their tokens as aid. A project called UkraineDAO rapidly raised $7M as part of the effort.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Sponsored Post

Soldex - Solana-built Decentralized Exchange

Soldex is building a flexible, user-friendly crypto exchange platform where you will be able to trade cryptocurrencies with your unique trading bot.

Crypto is volatile, and trading cryptocurrencies is risky. Clouded with emotions, you often make expensive mistakes. With Soldex, you'd have easy-to-setup trading bots that can execute your trading 24/7, without the danger of human error.

You'd be able to customize your bot according to your criteria like risk tolerance, time frame, budget, etc. You'd have access to educational tools to assist you in setting up your bot. Soldex will also let you use AI-powered algorithms created by experienced traders.

Now for the best part.

Soldex's token, $SOLX, is already trading on different exchanges. Imagine what it's like to buy Solana at under $5; that is what it'll feel like to grab some $SOLX now. Being the first AI-powered DEX on Solana, you can imagine what this would do to $SOLX price action.

You're not early. $SOLX recently passed a huge milestone of $1,000,000 staked on the Atrix SOLX-USDC protocol. But you can get in. You can trade and stake $SOLX for 100%+ APY.

Visit soldex.ai today for more details.

The Tube

📺 Quick Take: The Ukraine Airdrop - is this for real?

Defiant Jobs

🧰 We've Launched Defiant Jobs!

Push your jobs to 100,000's of crypto natives. Get your listing in front of qualified candidates faster.

To celebrate the launch of Defiant Jobs we're offering The Defiant subscribers 50% off their first Defiant Jobs post.

Top features of Defiant Jobs

Defi, Web3 and Crypto specific audience
Get greater visibility
Find quality applicants
Organize your candidates
300,000+ monthly views
Find your next hire from only $250

Use the promo code FIRST50 at check out. (expires in 7 days)

Links

🔗 SEC Probing NFT Market: Report: CoinDesk

The Securities and Exchange Commission (SEC) is investigating whether certain non-fungible tokens qualify as securities and thus should be regulated, according to a report from Bloomberg, citing sources familiar with the matter.

🔗 Dragonfly Research claims Ethereum is the ‘MS-DOS’ of blockchains: CoinTelegraph

An experiment from Dragonfly Research that compared the performance of six blockchains by testing the capacity of automated market makers (AMMs) on each has found Solana’s Orca decentralized exchange (DEX) was the clear winner in trades per second.

🔗 How Ava Labs is building the road to crypto ‘hypergrowth’ with Avalanche: MasterCard

Emin Gün Sirer has a major beef with the crypto economy: It’s not growing fast enough.

🔗 EU looks at preventing use of crypto to avoid Russia sanctions: The Financial Times

The EU is considering new measures to ensure digital assets are not used to dodge sanctions against Russia as the bloc toughens its enforcement of the financial penalties imposed on Moscow in the past week.

CryptoStΞvΞ | UkraineDAO | PleasrDAO (🇺🇦,✨)ᵐᶠᵉʳ @DefiHope

🤚🎤⬇️ ... @Ukraine_DAO @cryptodrftng @pussyrrriot @zencephalon @TrippyLabs

Solidex @SolidexFantom

We can confirm votes were successfully submitted. Happy $SEX and $SOLID farming!

Handpicked by The Defiant Team

Russia’s Invasion Triggers 6% Premium on BTC-Ukrainian Hryvnia Trade Wildly divergent spreads used to be a staple in Bitcoin trading, with savvy traders raking in profits by playing the arbitrage between the pricing on different exchanges, especially in Asia.
Scaling Breakthroughs and a Thriving Culture: Here’s What I Learned About the State of Web3 at ETHDenver Coming back after a year hiatus, tens of thousands of experienced builders and curious beginners alike descended upon ETH Denver. The conference came at a crucial turning point for the industry as a whole.
NFT Collectors Love Space Doodles Imagery But Not Its Confusing Valuation Model For all the mojo in NFTs, there’s still a lot of experimentation under way. And sometimes buyers aren’t sure what to make of a new crop of imagery, or new minting systems.

🧑‍💻 ✍️ Stories in The Defiant are written by Brady Dale, Owen Fernau, Samuel Haig, 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.

Subscribe now

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)

DeFi, NFT & Web3 Insights - The Defiant

🌊 Terra and Fantom Are Pumping Even as DeFi…