The quieter it is, the more space you have to learn.
Some actions you can take:
1. Read governance forums. For example, you can see gigabrain nerds debating over at LDO or MakerDao to get ideas on the future of DeFi.
2. Load up $ into a burner wallet and try out new dApps
3. People are bored so it’s easier to network now
4. Refresh your watchlists & who you’re following
The calm before the storm – don’t waste it
Here’s what we got today:
- Political support. Will the US Gov stop messing with Crypto?
- DeepDAO.io. A new tool to monitor DAOs
- Around the web. Optimism launched SuperFest, DeBank launched its points program, and more.
Today’s email is brought to you by Everclear — the first clearing layer.
Here’s your Edge 🗡️!
Is the Witch Hunt Ending?
Crypto has been fighting an uphill battle the past few years.
Gary and the SEC have been tormenting crypto companies. Elizabeth Warren and crew have literally been building an anti-crypto army.
Let’s just say that the US government hasn’t been too friendly to Crypto.
What if this roadblock could be removed?
Trump’s Official Republican Platform has just stated that they’ll support cryptocurrency innovation. This is according to a document released Monday by the Republican National Committee.
“We will defend the right to mine Bitcoin, and ensure every American has the right to self-custody of their Digital Assets, and transact free from Government Surveillance and Control.”
They’ll also oppose the creation of a Central Bank Digital Currency. This will give more space to decentralized stablecoins like $LUSD from Liquity and centralized stablecoins such as $USDC from Circle.
The other rights are also significant.
The right to mine Bitcoin is required to maintain the cryptocurrency with the greatest monetary premium. $BTC has the best case for becoming this decentralized money. And we need this right to make that happen.
If we don’t have the right to self-custody for our crypto assets, then crypto is no different than TradFi. Without that right, we’ll end up as peasants under the rule of centralized masters.
And we also deserve privacy. The right to transact free of government surveillance and control will give us that.
So if Trump wins and follows through on his promises, we might have an arena in which crypto innovation can flourish.
Note: I’m writing about what’s going on since it affects Crypto – I don’t officially support any political parties or candidates. If anything, I think both guys are way too old to be running.
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How to Stay on Top of DAOs
DAOs control ~$23.5 billion in their treasuries.
That’s a lot of money controlled by random internet anons. Many believe this number is only going to increase.
Arbitrum, the leading L2 chain, is securing >$2.8 billion in Total Value Locked. They have ~$2.3 billion in their treasury as well. This chain will be controlled by the ArbitrumDAO.
Other L2 and dapps are also moving in the same direction.
But make no mistake, in their current state, DAOs are deeply flawed.
Last week, I talked about how Polkadot wasted their treasury. This primary reason for this disaster was because Polkadot was run by a DAO. Centralized teams like Ethereum Foundation and Solana Labs didn’t stoop to this level.
However, billions are flowing through these DAOs. And there’s power in learning to play the DAO game.
Polkadot overpaid for many things. if you had influence in Polkadot DAO, you could’ve diverted some funds to you. Or to legitimate areas that can grow Polkadot.
Today, I’m going to introduce you to DeepDAO.
DeepDAO is your one-stop shop for keeping up with all DAO-related activities.
It is kinda like the Bloomberg Terminal for DAOs. Both platforms provide comprehensive data and analytics. Bloomberg for TradFi and DeepDAO for DAOs.
It has many use cases.
- To find DAOs. You can filter them by category, treasury size, number of proposals, and more.
- To monitor financial metrics, governance proposals, members, and voting coalitions in various DAOs.
- Various other metrics like the value value controlled by many DAOs, top protocols used by the DAOs, and so on.
You can add this as part of your research project. If you’re interested in investing in a protocol, you want to see how they’re allocating their capital.
So, try playing around with the tool.
🚀 DeFi Catalysts
Optimism launched SuperFest. It’s a campaign to reward users for exploring DeFi within the Optimism Superchain.
RageTrade is launching its RAGE token on HyperLiquid L1. RageTrade is a perp aggregator.
Kwenta is discussing the integration of GMX and Gains Network’s liquidity into Kwenta’s perpetual marketplace.
Puffer Finance introduced Puffer UniFi. It’s a Based Rollup that will enable features like native yield, gasless transaction, and enhanced security.
Tally, a DAO governance program, introduced Governance Restaking in partnership with Symbiotic.
Jupitor launched the memecoin trading platform called an ape. It offers a secure wallet vault where users can start trading by depositing SOL.
Aave introduced the Aevo Strategies. They are automated trading vaults that execute sophisticated strategies on the user’s behalf.
🪂 Airdrop Alpha
DeBank launched its points program called DeBank XP. A snapshot was taken on July 4th to reward active addresses.
Fuel Network, an optimistic rollup, introduced its points program. As of now, only the public testnet is available.
Term Finance launched the Term Points program. Its season 1 will end in Q4 with a 2x boost for the first 500 users.
Zircuit L2, already took a snapshot for Zircuit Points Season 1. The second season of the program has already started on July 8th.
🚀 New Launches
JuicyPerp is live on Arbitrum. It is a gamified options trading protocol.
SuperBoring launched with a referral program. It is a DCA exchange on Base.
Penumbra, a private PoS network and DEX in the Cosmos ecosystem, went live.
ParaSwap introduced ParaSwap Delta. It leverages the Portikus infrastructure on Paraswap to trade tokens without worrying about MEV or Gas fees.
Mint launched its mainnet. It is an L2 built using the OP Stack and powered by NFTScan Labs and Optimism.
Aleph Zero EVM, a ZK Privacy EVM, is live on the Testnet. Mainnet release is scheduled for Q3 2024.
🐦⬛ X Hits
- Stay vigilant about how the Lazarus group operates.
- Electric Capital Crypto Market Map
- Huge buy the dip numbers from the ETF.
- Recognize narratives for guaranteed gains.
- Koroush’s psychology alpha.
📊 The Reader Answers
Last week, I asked everyone a question.
When will $BTC cross $100k?
Here are the results.
It’s possible – a storm of ingredients would need to happen: Republican party elected in the US, rate cuts, a ton of institutional inflow from the ETH ETF, etc.
But something I’ve learned is whatever the consensus thinks…it goes the opposite. I’m predicting BTC breaks $100k in the first half of 2025.
😂 Meme
