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"The DeFier Weekly Report | YouTube Gaming Lead: P2E Mode, NFT Will Become Mainstream"

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"The DeFier Weekly Report | YouTube Gaming Lead: P2E Mode, NFT Will Become Mainstream"

Hi DeFier,

With the successive outbreak of applications such as DeFi, NFT, P2E Play-To-Earn games, and the Metaverse, as well as Bitcoin returning to the $50,000 level for the first time since mid-May, the market seems to be rapidly recovering, welcoming the continuation of the bull market! Readers who have been following The DeFier weekly report are probably not surprised by all this, after all, while the token price may seem Bearish, the development outlook has never slowed down.

This week's headline news includes: Visa entering the Metaverse by purchasing the first CryptoPunk NFT; Polygon planning to establish a DAO to govern the community and promote the development of its various DeFi platforms; 5 proposals from the Sushi community have been approved to create a multi-chain expansion fund; Why did all other tokens disappear after transferring only 1 USDT? Understanding token transfer permissions; Index Coop launching a liquidity mining program based on Uniswap V3; SEC Chairman: DeFi projects may be subject to SEC regulation, and more.

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This week's selected insights include: Aave founder Stani Kulechov asking who is the gorilla? YouTube Gaming Head Ryan Wyatt publicly stating that he believes the P2E model will be a self-evident future trend? Binance founder CZ Zhao Changpeng reminding everyone that some people used to think the internet was just for sending emails? And Twitter user 6529 telling us that the "Metaverse" is not just a joke.

✨ This Week's Headlines

Visa Enters the Metaverse, Acquires First CryptoPunk NFT

Visa announced on its official Twitter that over the past 60 years, Visa has collected a range of historical artifacts—from early paper credit cards to zip-zap machines. In this new Crypto and NFT era, Visa is adding CryptoPunk #7610 to their collection.

Polygon Plans to Establish a DAO to Govern the Community and Promote Development of Its DeFi Platforms

Ethereum scaling solution Polygon plans to establish a DAO to promote the development of its DeFi platforms and attract more users to the Polygon ecosystem. DAO committee members include various DeFi projects on Polygon such as QuickSwap, Sushi, AAVE, as well as web3 application development teams like TheGraph, UMA, Covalent, ChainLink, and more.

5 Proposals Approved by Sushi Community to Create Multi-Chain Expansion Fund

Decentralized autonomous organization Sushi's community has approved 5 proposals, including the creation of a multi-chain expansion fund, building customer support team, maintaining NFT exchange (Shoyu), introducing payment rate parameters for xSUSHI, and introducing oSUSHI for governance structure. The multi-chain expansion fund proposal will extract 2% from SushiBar revenue for the multi-chain expansion fund.

Index Coop Launches Liquidity Mining Program Based on Uniswap V3

Cryptocurrency index protocol Index Coop announced the launch of a DPI/ETH liquidity mining program based on Uniswap V3, running until September 4th, with rewards of 2000 INDEX tokens. Users need to select a pool with a 0.3% fee level on Uniswap V3, without specifying a price range. After providing liquidity on Uniswap V3, users need to stake the NFT certificate of the provided liquidity in the Index Coop protocol to participate in the program.

Venus Protocol Releases Final Version of Tokenomics Proposal

Leading Binance Smart Chain lending protocol Venus released the final version of its tokenomics proposal. It includes establishing the core position of XVS with governance functions, capturing the main value of the protocol; Venus Treasury with functions such as risk protection, voting governance, income distribution, and reward allocation; protocol income distribution, XVS buyback and burn mechanism; VRT exchangeable for XVS for up to 12 months; and expanding revenue sources, among others.

SEC Chairman: DeFi Projects May Be Subject to SEC Regulation

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler stated that DeFi projects may be subject to SEC regulation. He mentioned that DeFi developers write software for automated trading, allowing it to operate without a central entity in charge. Regardless of how decentralized a project claims to be, if it rewards developers, sponsors, and other participants with valuable tokens or similar incentives, it should be subject to SEC regulation.

Transferring only 1 USDT, why did all the other coins disappear? Understanding Token Transfer Permissions

With recent scams on the rise, everyone must remain vigilant to prevent asset losses! This article selected for analysis in this week's report is a typical authorization scam in fraudulent cases. "A friend gave me a link to transfer 1U to the address in the link for testing. I transferred 1U, and then I was hacked?"

😎 Insights from Industry Leaders

Aave Founder Stani Kulechov: Apes, all apes.

YouTube Gaming Lead Ryan Wyatt: Play-to-Earn game mode will be the next mainstream. The potential of NFTs is self-evident.

Binance Founder CZ Zhao Changpeng: Some people used to think the internet was just for sending emails.

6529: "But in the metaverse..." It's not just a joke.

📈 On-Chain Data

DeFi: Comparison of "Fully Diluted Market Value" of DeFi Projects with Bitcoin

According to Token Terminal data, the fully diluted market values of several DeFi blue-chips COMP, AAVE, MKR, YFI, UNI compared to Bitcoin at current prices. It can still be said that the comparison is like apples to oranges. Does this mean that DeFi is still significantly undervalued?

Ethereum: Even if Not on Ethereum Chain, Is ETH Burned Through EIP-1559?

The hottest game Axie Infinity recently is built on the Ronin blockchain. However, it occupies the top three spots on the Ethereum burn hero list? It turns out that there are too many cross-chain demands, causing the action of cross-chain alone to burn enough gas fees to make it on the list…

Blockchain: What Was the Most Profitable On-Chain Activity in the Past Three Months?

According to Token Terminal statistics, the most profitable projects in the crypto space in the last 90 days, with the recently popular Play-To-Earn project Axie Infinity leading, followed by Ethereum, on-chain storage protocol Filecoin, BSC AMM PancakeSwap, and NFT platform OpenSea.

🐥 Nasduck Index: 3.75

Project Development 3, Institutional Attitude 4, Regulatory Attitude 4, On-Chain Data 4

Nasduck Index is a long-short indicator we compile based on the weekly cryptocurrency news and data to provide a simple prediction for the upcoming cryptocurrency & DeFi market trends. A score of 1 indicates a bear market brewing, while 5 indicates a bullish outlook ahead. The Nasduck Index is averaged weekly based on project development, financial institution attitudes, regulatory agencies, and on-chain data analysis. (Note: Positive news is often more prevalent, so the Nasduck Index is better suited for comparison with the past and future, rather than considering anything above 3 as bullish for the future.)

🐶 Weekly Memes