Another Day in Crypto

dopex (💎, 💎) @dopex_io

Stake DAO @StakeDAOHQ

Balancer @Balancer

Julien Bouteloup @bneiluj

@StakeDAOHQ 👀

This went on and on.

0xoldboy.nft (💙,🧡) 🏰 (L3, ❄️)(🌸, 🌿) .bit .bnb @0xoldboy

what the FUCK is going on Monday?

Ok, what’s going on?

olimpio mentioned quite a lot of them:

olimpio @OlimpioCrypto

Mondays 🤜🤛 Multiple protocols are coordinating What's happening? 🦅? 👀

Eason shared his thoughts:

Eason Wu 🦇🔊 @easonwu_

2pm EST was the start of these 🤜🤛 tweets by crypto protocols... Zerion, Dopex, Sushiswap, Gearbox, Cowswap, Aura, Balancer, Degenscore all at 2:00pm then MakerDao at 2:01, Yearn at 2:02, and Euler at 2:03 Some have speculated that this is the Arbitrum airdrop... 1/2

Then I saw this and tweeted:

Ok Is this why everyone's "Monday👀"ing? $ARB is coming?! The legend is real?!

.@inversebrah is looking at OG arbi tokens & "has like 4 days left" + DeFi projects RTing Monday...which suggests: $ARB = Monday, Feb 6th ....which happens to be the day they're presenting at a conference in Riyadh on a conference called "When Token & the Arbitrum Ecosystem" 👀 https://t.co/DVkHeSleYF https://t.co/oz25rXS6eX

smolting (wassie, verse) @inversebrah

WEN PUNP WTF smolting haz liek 4 days left :< https://t.co/ULlJqOospD

amplice:

amplice.eth 💀🦞 @astr0bas3d

@DAdvisoor as someone on the inside, genuinely its not lol its like 99% less important and exciting as u all are making it out to be

Sam Forman @pgpsam

@DAdvisoor I don’t think so, some of the projects aren’t on Arbitrum and would require a DAO vote to deploy there.

Sam forman:

@pgpsam Maybe they're just joining the hype ser This "Monday👀" seems to coordinated and big to not mean anything big

@pgpsam And yet - we all know how psyops tend to be

Gilga:

Gammamesh @GilgaOfGamma

@DAdvisoor Sorry to disappoint but this is not why. As too the why, I'd say but then they would kill me.

Gearbox Protocol ⚙️🧰 @GearboxProtocol

@GilgaOfGamma 👀

Gearbox posted this:

In case you are confused: this is just a fun DAO flashmob happening with some other awesome DeFi projects (as you could have noticed already). A first attempt at coordination, as to speak. But maybe marketing contributors could actually prepare something cool for Monday anyway 🫂

@GearboxProtocol Or is it

Well, let’s see.

Alright, moving on.

A lot of interesting stuff to go over folks.

DeFi is not waiting for Monday just standing still.

Next story actually started getting personal as I was collecting info on it - both because I am a (tiny) investor in UMAMI since pretty much the start (was also on the Z2O version for those of you who know about it btw), and also because of the personal exchange that went on on the Umami Discord server between me and Alex (DeFi Alpha), CEO of Umami Labs.

Well. let’s let the tweets tell the story, and for those of you who want the fuller version, hop on to the Umami server and look it up if you feel like it.

This story starts (for me) with this message by Umami - in which they’re announcing they will be halting yield until “regulatory clarity”.

Sharing here just a few tweets from their thread:

On Tuesday, Umami shared some important updates about its ongoing evolution into the premier Institutional DeFi protocol. Understandably, the community has had plenty of questions, so let's review the key takeaways! 1/🧵 👇👇👇

Umami has retained multiple top Law Firms to comprehensively review its compliance strategy ahead of its GLP Vault Launch. Umami is especially focused on identifying optimal regulatory pathways for its GLP Vaults & $mUMAMI staking contract. 2/🧵 blog.umami.finance/pioneering-ins…

blog.umami.financePioneering Institutional DeFi: Next Steps ForwardUmami reviews some important preparations ahead of its entry into the Institutional Market.

For Institutional DeFi protocols, compliance is a strategic imperative. By carefully integrating guidance from world-class legal advisors, Umami is positioning itself for product integrations with regulated Financial Institutions & Crypto Platforms. 6/🧵

Among Umami's top priorities is ensuring its $UMAMI staking contract aligns with compliance best-practices. At least until the review is complete, Umami has halted manual payouts from its Treasury to Marinators. 7/🧵

For more details on Umami’s compliance review & updates on its Vaults, join its Community AMA Today at 2pm EST. Remember to share your Qs in Umami’s Discord! discord.gg/zn6hsTmTSM /end 🧵 https://t.co/sst9xEakEo

Let’s look at some of the responses.

@UmamiFinance A good pivot to double down on your institutional goals. But doesn’t stopping treasury share completely go against the “real yield” principles you guys actually started a trend for? Feels like now that you got traction/FUM, sacrificing holders for big money/success goals?

Lbi was the one through I originally found out about this story btw.

He write this next thread:

$umami update - I started writing out a big long thread & scrapped it. tldr - the team is altering the way the project was setup. In doing so, they are clearly making $umami a security & it will undoubtedly be deemed so by the outside council they brought in for "review"

The setup was the reason i made this a large part of my portfolio as it was a pretty genius idea to be able to keep a decentralized protocol while still serving institutional investors. That is no longer the plan & I am confident $umami token will end up with no value accrual.

I will hold a moon bag and reconsider the investment if they do right by token holders with a clear immutable plan in place for revenue sharing. I dont think its going to happen.

Stakeoor replied:

Stakeoor @stakeoor

@lbi_trader Definitely possible. Also possible that they are able to gain "regulatory clarity" or whatever and still push yield to $UMAMI If we take the team at face value, that's the priority. Not sure how I would weigh the probability of either. But I don't think it's worse than 50:50

DeFi Alex - do not confuse with Alex DeFi Alpha of Umami btw.

In fact, this guy is one of my favorite accounts recently.

@stakeoor @lbi_trader If uniswap hasn’t been able to get regulatory clarity at their scale and size of team how could any other team? The sec won’t play ball period. That’s why I feel anon is the way and the anon version of umami (safari hat icon 😉) is probably the better model

Lbi replied to DeFi Alex:

@swaggyAlexyo @stakeoor the structure they had for umami was pretty genius. But seems they are scrapping it. I just sold 90% of my position. Not waiting for a bounce. Shoulda sold at 28 the othe day but gave the team the benefit and waited for ama. Oh well. Kept a 10% moon bag.

DeFi Alex added:

@lbi_trader @GilgaOfGamma Curious about @crypto_condom thoughts on the changes as he’s been a big believer for a long time. Did he post anything about it?

Babar @Defi_Babar

@swaggyAlexyo @lbi_trader @GilgaOfGamma @crypto_condom He dumped right after announcement

@Defi_Babar @lbi_trader @GilgaOfGamma @crypto_condom I just saw his posting saying so. Very massive to lose their biggest supporter!

Indeed.

Babar @Defi_Babar

@swaggyAlexyo @lbi_trader @GilgaOfGamma @crypto_condom Yeah he had big bags and is expecting lower prices across the board anyway so I get Capitol preservation. For me, @UmamiFinance is my "corporate/legal facing" defi play, where my other biggest position $BTRFLY is my decentralized defi play. I assume umami will geoblock but I vpn.

@Defi_Babar @lbi_trader @GilgaOfGamma @crypto_condom @UmamiFinance Definitely! I am a big fan of your other holding especially 🤪. To me though it’s Jones that would be the anon alternative to umami (and they actually had working vaults for a long time)

@swaggyAlexyo Big fan of the Jones vaults. I do prefer @MIM_Spell GLP Calderon simply bc you can control the leverage and bento tech is we’ll battle tested but both are great designs and gmi.

Lbi also tweeted:

out of 90% of my $umami. Will revisit at a later date. So many good projects & at $24 i still made money so im not going to watch it turn into an L. Shoulda sold on the announcement but gave the team the benefit/ waited till ama. Obv im not the only one who thought ama didnt help

₿lackmore 🫐 @21blacky

@lbi_trader Didn’t get in myself, not a fan of the vault tokens

@21blacky i have multiple vault tokens and this was one of my first. Stuck with it through failed V1 vaults and kept buying anytime i got 15-18 and just stacked while they developed. just sold it for the same reason i bought it, the team.

Ok, onto my personal angle.

I wrote this thread; here are just the first and last tweets:

Just got timed out on the @UmamiFinance server cause @IntrinsicDeFi doesn't like my questions about why they've decided to make $UMAMI a token with no utility after what brought all of us to invest in it is the real yield model and its value accrual. Disappointing behaviour.

Feel free to let us know when and how you plan to go back to the model who made us all invest in you guys and support you. And feel free to correct the way you've just treated one of your investors. Or in fact - all of them. Good luck.

Got a lot of responses, here are some:

JBMasterCrypto 🫐🦇🔊 @JBmastercrypto

@DAdvisoor @UmamiFinance @IntrinsicDeFi Great simple question. I feel betrayed by the team so I sold my bags. Thats what I call getting sold to the devil (Circle or any other so called "institution")

Doola 🦇🔊 🫐 @0xdoola

@DAdvisoor @IntrinsicDeFi @UmamiFinance Umami is done bro, move on. Their target userbase has changed, so should your investment thesis.

ve_0xb @ve_0xm

@DAdvisoor @UmamiFinance @IntrinsicDeFi Could you expand on how they're making $UMAMI a token with no utility? I couldn't chime in.

@ve_0xm @UmamiFinance @IntrinsicDeFi The value accrual model has been halted until "regulatory clarification"

And later added:

Twitter folks, feel free to check for yourself my allegedly "uncivil" questions and how much @IntrinsicDeFi is really willing to answer my questions on the @UmamiFinance Discord server if you want to see for yourselves. This is him mentioning how he "gave me a brief timeout"

Will say this to wrap this story up - respect the folks at Umami. Will not expand more on the subject right now.

Also, appreciate all those who expressed their support both in tweets and DMs - and also those who criticized my behavior as well. Also, just realizing I misspelled “behavior” on that tweet.

Oh well.

Moving on - another protocol I’ve long been investing is with my tiny portfolio - is Jones DAO.

Remember folks, this is not financial advice.

Yet it’s ok, I know you don’t care about that.

Ice tweeted:

Ice v3 @FroyoFren

Blown away by the effect of retention incentives on the $jGLP and $jUSDC vaults. Yields are getting sky-high while TVL continues to grow. $jGLP and $jUSDC keep dominating metrics as the perfect product for both bulls and bears. Let’s dig in👇🏻

Tz replied:

TzTok-Chad (💎, 💎) @tztokchad

@FroyoFren @GMX_IO @SmallCapScience @Tetranode @redactedcartel @0xSami_ @davidiach @tanoeth @AkadoSang @TheDeFinvestor @_thedefiedged @rektdiomedes @DigitsCapital @SperaxUSD @DAdvisoor @koreanjewcrypto @18decimals @crypto_linn @defi_mochi Maybe we need glp puts to add a level of insurance for glp vault depositors - and Jones can tap into that while whoever wants glp at dips can buy

Fredegar from GMX:

Fredegar Christensen 🫐 @0xFredChris

@tztokchad @FroyoFren @GMX_IO @SmallCapScience @Tetranode @redactedcartel @0xSami_ @davidiach @tanoeth @AkadoSang @TheDeFinvestor @_thedefiedged @rektdiomedes @DigitsCapital @SperaxUSD @DAdvisoor @koreanjewcrypto @18decimals @crypto_linn @defi_mochi 👀

Btw, the Dopex royal family member Cristopher Iach shared a video about the new Jones jGLP & jUSDC vaults:

And speaking about Dopex:

dopex (💎, 💎) @dopex_io

💡 We're proud to announce that we have open sourced the Dopex dApp front end! Anyone can now launch their own frontend from Dopex’s codebase and provide their service to DeFi users. 👩🏻‍💻 Read more here 👇🏼 blog.dopex.io/articles/produ…

blog.dopex.ioA Decentralized & Open Source Dopex Front EndDopex is proud to announce an update to the protocol’s front end, as of today we have open sourced the Dopex dApp front end!

I’m liking this.

Alright, next -

Condom tweeted:

There is NEVER a bad time to buy options in a market like this one. Cheers to the @lyrafinance team for launching 🥂

Lyra @lyrafinance

Lyra is now live on @Arbitrum, integrating with @GMX_IO 💚 Get started 👉 https://t.co/AX7yv8b87Z https://t.co/E8M0hEG18O

Lyra @lyrafinance

Lyra is now live on @arbitrum, integrating with @GMX_IO 💚 Get started 👉 app.lyra.finance/?utm_source=tw…

Next up - one of my favorites - and a project you probably already know I’m a part of its community booster program - Concentrator by Aladdin - shared some news some people have been waiting for for a while now:

Concentrator @0xconcentrator

Any idea what's coming next @StakeDAOHQ? 👀 github.com/AladdinDAO/ala…

Stake DAO @StakeDAOHQ

@0xconcentrator

DocMuscle (Goblin arc) 🔆 🦇🔊 @DocMuscle_

@0xconcentrator @StakeDAOHQ sdCRV + Concentrator = asdCRV??

Nice.

Let’s use this CRV ecosystem related tweet to move to the next tweets - and videos.

First - llamas on Flywheel:

Five grown men One with a mustache, one with a hat And three llamas Discussing the meaning of the llama as a concept of basedness in the DeFi ecosystem And 🦙 utility How good is this industry folks? @FlywheelDeFi @WenLlama $CRV $FXS $CVX youtube.com/watch?v=inCtOa…

youtube.comThe Llamas are Curve Finance’s New Social Layer w/ wwpk, Hawth, & Panda - Flywheel #37Subscribe to the Flywheel mailing list: https://flywheeloutput.comHave ETH but don’t know what to do with it? Swap it to FrxETH for the highest staking yield...

The video:

And next - Llanero and Crouguer from Aladdin went on Kingmaker to talk to Alehinjo and Keth:

@Kngmkrpod is back And (again) with one of my favorite DAOs - @aladdindao @cryptocrouguer and @iamllanero talk about @0xconcentrator & @0xC_Lever with @Alehinjo_eth and @4aKETH $CTR $CLEV $CRV $CVX $FXS

youtube.comAladdinDAO - Ser Crouguer and Llanero #3Hear Ye! Hear Ye! “All things are ready,” come to the launch of abcCVX! Come for the compounding yield; Ye farmishing, ye weary, come, and thou shalt be rich...

KingMaker @Kngmkrpod

We are back with another interview, this time with @cryptocrouguer and @iamllanero from @aladdindao, speaking about @0xconcentrator and @0xC_Lever recent releases & developments, oh and $abcCVX! Check the podcast down below on all platforms!! 👇

The video:

These are my two favorite podcasts folks tbh.

Ok, let’s continue with some more videos:

Noah Seidman:

The Bankless Weekly Roll Up:

Alright, let’s look at some extra news and updates:

Perpy and Pyth had a Twitter Space:

Perpy 🌒 @PerpyFinance

Don't forget to tune in today! We are excited to be hosted by @PythNetwork 💥 #Arbitrum #Trading #GMX $PRY #RealYield

Pyth Network 🔮 @PythNetwork

🧑‍🚀 Calling all Arbinauts! 💬 Join us and @PerpyFinance for a fireside discussion on expanding the Arbitrum trading ecosystem ⏰ Friday, Feb 3 at 5 PM UTC 🧠 Set a reminder: https://t.co/qjFXCvxHMF https://t.co/tp5d96UkIq

Pyth Network 🔮 @PythNetwork

Seraphim tweeted:

Seraphim @MacroMate8

rETH as collateral on @eulerfinance soon peeps

Rocketscan @RocketscanIO

Rocket Pool reaches $1B total value locked https://t.co/Plv7TCkHgz https://t.co/dl7vcVXaoF

Rocketscan @RocketscanIO

Rocket Pool reaches $1B total value locked rocketscan.io/tvl

Next -

0cChaos:

0xChaos @0xCha0s

Discussions on enhancing $cvxFXS approach on @ConvexFinance - $fxs to locked $cvx - $cvxFXS single sided staking similar to $cvxCRV Removing sell pressure vectors and adding utility to help improve peg

@0xCha0s @CurveCap @ConvexFinance Glad it’s being looked at now, a few months ago when raised in frax telegram he had replied no changed being considered

Alright, now for the surprise of the day.

I will be honest - I think you’re probably hearing about this from me first - and I’m liking the honor to do so.

This new project just launched, and I was lucky to talk to Skippy, one of the founders just last week.

DeFi gamification is here folks, and honestly - I’m trying to get a bit involved there.

:)

Will it work? Well, my hunch says it might.

Presenting - Hunch Finance.

So you say want alpha? This is your alpha for today @HunchFinance is live on Arbi DeFi gamification is here folks

Hunch @HunchFinance

Hunch is now live on @arbitrum ! 📢 Launching with the alpha version of first DeFi game - The Flippening. Get started 👉 https://t.co/CfVVhnj0if Gitbook 👉 https://t.co/gEZSZeAbzl First post 👇 https://t.co/MNMGBcbV6G Join the community 👇 https://t.co/g0ywNpx8S3 #Hunch #DeFi https://t.co/Sr2zCSHALc

Hunch @HunchFinance

Hunch is now live on @arbitrum ! 📢 Launching with the alpha version of first DeFi game - The Flippening. Get started 👉 hunch.finance Gitbook 👉 docs.hunch.finance First post 👇 medium.com/@hunchfinance/… Join the community 👇 discord.gg/kXDs2BSKzA #Hunch #DeFi

Raistlin:

Raistlin @raistlingm

The flippening is coming? @BanklessHQ defi + gaming in one protocol = good combo. GL 🫡 tagging some chads @rektdiomedes @ViktorDefi @kamikaz_ETH @Crypto_McKenna @Slappjakke @TheDeFISaint @CryptoKaduna @ethersole @reptar258 @DefiIgnas @LouisCooper_ @DeFiMinty

Hunch @HunchFinance

Skippy:

Skippy Cavanaugh @SkippyCava

@HunchFinance @arbitrum Here we go guys and gals👆👆 its time to gamify the DeFi space

Good luck folks!

Ok, moving on.

I posted this question:

Who will be the first protocol or service that allows a truly decentralized debit card using on chain assets on Mainnet or Arbitrum? And working worldwide? I want a real direct card enabling to use self custody owned funds

Got all kinds of responses.

@DAdvisoor Credit card issued by @Mastercard with integration into your web3 wallet. @immersve ftw

mactar.eth @MacTar8822

@DAdvisoor Aave

@DAdvisoor truly decentralized and debit card issuance are incompatible sir

@MacTar8822 👀

0scar @0scaronchain

@0scaronchain Maybe, maybe

0xjager 🦇🔊 @0xjager

@DAdvisoor @getswype

woketaco @angelmercedes

@DAdvisoor @0xjager @getswype We pivoted 🫡

Block Enthusiast 🔥🌱🌻🌪️ @BlockEnthusiast

@0xjager @getswype 👀

Sami @0xSami_

@DAdvisoor @viaMover

@DAdvisoor I personally most like @viaMover 's approach though unfortunately not worldwide. They have a nice zk layer which I don't see in other projects which helps abstract links between CC and on chain identities.

DefiRat.eth 🛸 @RatDefi

@DAdvisoor

viamover.comMover - web3 debit card.The only web3 card you’ll ever need - Mover.

Mover 💳 @viaMover

@0xSami_ @DAdvisoor Working on being available to all users, but: - works only with self-custody wallets ✅ - no access to user crypto ✅ - on-chain assets ✅ - supporting DeFi primitives ✅ - spendable globally ✅ - metal card coming ✅

@viaMover @0xSami_ KYC required sers?

Mover 💳 @viaMover

@DAdvisoor @0xSami_ No more, and less than your bank requires. It’s a card with IBAN account

KSndz @kevSandersonz

in case it isn't clear there is only 1 protocol that uses Mover for an on-chain debit card