GambleFi ruled in the bear and will rule harder in 2024
It is one of the sector with a huge untapped market size of $263B
More than a third of the bets were made through crypto up by 50% YoY
The fall of @ZKasino_io will bring a lot of attention to @azuroprotocol which I am really hyped on and here's why:
So, in the first half of the year....
- In Q2 we will see, the first over on-chain live betting, @TeamBookiebot also has something of sort in their roadmap
- Timely with the sports fanatic hype around May to June as well with The Champions League Final, Eurocup, and NBA, which will bring a lot of volume for live betting
In the 2nd half of the year...
- We will have the US presidential election, markets will be very heated as sports and politics become one of the most talked about topics
- Continuous integration with a lot of infrastructure partners like L1, L2, TG bots and dApps like @TeamBookiebot @BoxBetApp, all of which aims to increase betting volume, users and TVL
Finally, the highlights that you all want to hear:
- They have raised $11M from a funding from @SevenXVentures, @fenbushi, Arrington Capital , @polymorphiccap, @RedBeardVC, @DewhalesCapital, and @G1_Ventures.
- Because of this huge funding round raised, we can look forward for an airdrop of $AZUR with $TIA like stake drop features and you are first to hear this here
We might have just witnessed the biggest rug in 2024
Investing early in Zkasino cost us over $33M
Official Telegram's gone, they dumped a massive amount of ETH on Lido, and the founders vanished.
Let’s break down the investigation 🧵👇
For those of you who don’t know, @Zkasino_io is a crypto betting and gambling platform that was making waves recently
At first glance, Zkasino looked like any other GambleFi project.
They had announced $350 million valuation for its Series A round, backed by $26M from some of the biggest players, even @MEXC_Official
They even got Certik to audit their code, testnet seemed fine.
But turns out, founder @Derivatives_Ape swapped our bridged ETH for those $ZKAS tokens at TWICE the price anyone else could buy on @apeterminal. Extremely Shady.
Thing is, @Derivatives_Ape had a spotty history with @ZigZagExchange and @Syncus_Fi. Not rugs exactly, but still weird.
Then, ZigZag's founder Kedar Iyer calls out the ZKasino team for straight-up lying about using their funds for $ZKAS instead
This raised many suspicions about @ZKasino_io
But no one bat an eye on it after @Derivatives_Ape denied these allegations.
But more recently, @MEXC_Official announced that they would be cancelling the $ZKAS token listing without any explanation
This caused massive FUD as the token’s IDO was already cancelled on @apeterminal & @AITProtocol
In their Telegram’s investor chat, the team had already tried to downplay the FUD by saying it was only postponed
“The ZKasino network will still go live; it has been delayed due to exchange listings.”
But this was a lie.
Another distasteful thing, ZKasino first claimed that they were using tech like @zksync and @eigen_da in their bio. But they did not mention this at all in their documentation
They were using a simple Arbitum Nitro chain instead. Now that people called them out for it, they removed the tech it in their bio
War tensions worsens amidst Dubai turned into an Oasis
3 key metrics that point to the economy post-halving 👇🧵
Crypto Market and Platform Updates
• Binance Converts $1 Billion SAFU to USDC • Hong Kong Greenlights Bitcoin and Ethereum ETFs • Puffer Finance Secures $18 Million for Expansion • Tether Integrates USDT and XAUT on TON Blockchain
Exchange and Wallet Enhancements
• OKX and Polygon Debut Zero Knowledge Network • Kraken's Privacy-Focused Crypto Wallet
Staking and Security Developments
• EigenLayer's No-Cap Policy Spurs $157 Million Influx • Trust Wallet Issues Security Alert for Apple Users
Influential Moves and Legal Challenges
• Vitalik Buterin Endorses Privacy Protocol Railgun • Worldcoin to Launch Bot-Discouraging Layer-2 • Yuga Labs Sells Game IP Amidst NFT Market Drop
Policy Changes and Brand Collaborations
• PayPal Changes Policies on NFT Transactions • Adidas Partners with STEPN for NFT Sneakers
In January, we witnessed a watershed moment with the approval of spot bitcoin ETFs,
Reignited hopes for another DeFi summer, reminiscent of 2020
Some thoughts for a journey less than 20days to Halving 🧵
So what's driving this DeFi renaissance? 3 factors:
• Institutional FOMO - With the crypto bull back, tradfi giants like BlackRock are piling in, tokenizing assets & fueling demand • Bitcoin ETFs BTC spot ETFs have opened the floodgates, letting retail & institutional $ pour into crypto • High Risk Appetite - After a desert 2022, speculative capital is fevered to capitalize on DeFi's wildly lush pastures
Let's dive in
Now, with DeFi yields overtaking those of traditional investment avenues, such as U.S. Treasuries, the anticipation for another DeFi summer is palpable among enthusiasts and investors alike.
The recent DeFi yield surge is highlighted by platforms like MakerDAO, offering a 15% yield on its DAI Savings Rate, and Ethena Labs, where riskier ventures can earn investors up to 27%.
These figures starkly contrast with the relatively stagnant yields found in TradeFi, signaling a potential shift in investor preference towards the high-octane world of DeFi.
We've began to forget that the LBP mechanisms were pioneered by Balancer. not Fjord.
And here is why I believe @1intro will be a leader on @solana with a renewed DEX + LBP + All-in-one paradigm 👇
Perfect Product Market Fit
• Innovative Solution: All-in-1 platform for Solana, enhancing efficiency, user experience, and project launches. • High-Efficiency DEX: Aims to outperform existing DEXs with superior speed, reliability, and user interface. • Fair Launch Mechanisms: Customizable LBPs and auctions for equitable project launches. • No-Code Token Deployment: Easy-to-use interface for token creation, liquidity addition, and management.
Market Opportunity
• Market Need: Addresses critical pain points of slow, buggy, and inefficient DeFi platforms on Solana @RaydiumProtocol @JupiterExchange • Growth Potential: High due to the growing demand for efficient and user-friendly DeFi solutions as the retail users onboard • Strategic Advantage: First-mover in providing a comprehensive, integrated platform on Solana with unique features.
Invested by Binance and having 37 DAO contributors & advisors
They are primed for 3 potential airdrops like $LZ, as they’ve: • Generated $30M in fees • $350M in TVL • V3 upgrade
Here's my bullish thesis on $RDNT 🧵
My TLDR bull thesis on $RDNT :
• @RDNTCapital positioned well to receive $LZ airdrop • $RDNT has a higher beta, and lower market cap than $STG. • v3 launching soon- the first lending market geared to support 100’s of long tail assets across LSTs, AI, memecoins, gaming • Partnered with http://defi.app who is building the Robinhood of DeFi • $RDNT dLP lockers are likely to receive a big airdrop
What is Radiant?
@RDNTCapital is an omnichain borrowing and lending protocol, also known as money markets, powered by Layer Zero & Stargate.
In this thread, I will breadown the key attraction points of $RDNT and about its upcoming v3 that aims to accelerate growth.
Waking feeling extremely disturbed after seeing this
#PYTH posted a drainer in their official twitter announcement and on their website.
I suggest not to interact with anything from them.
So, if you enter the "official" ununx(dot)com website [SCAM LINK], and join their "official" Discord, you're then pointed to an .io domain from crypto section, which drain user wallets after signing.
Market got bloody for the week, fuelled by ETF sell offs
Sell into Greens, Buy the Blood
Here are 3 indicators about the market condition 👇🧵
Next FOMC meeting in 39 Days
Crypto Market Volatility and diverse factors influencing the cryptocurrency market, including investor sentiment, regulatory developments, network activity, and emerging trends like AI and meme coins.
Macro Market Fed's dovish stance boosted markets, while corporate moves like Alibaba's divestment and upcoming economic data releases add context to market dynamics.
Key Economic Metrics 🟡 While US inflation ticked up recently, driven by services and shelter costs, core measures showed some moderation. The Fed's future policy path hinges on whether inflation accelerates further or eases, particularly depending on labor...
🔴Eurozone's productivity slump poses challenges for sustainable economic expansion and price stability, underscoring the need for structural reforms and investments to boost innovation and efficiency.
China Spotlight 🔴 China's rebound in consumer inflation is clouded by persistent producer price deflation and economic headwinds. While aiming for robust growth, curbing debt-fueled investment without boosting consumption risks stagnation
GM friends to wonderful week! Avoid buying during green weeks, focus on red weeks instead. Historically, entering the market during 10-40% pullbacks has been a key to success in bull markets. These pullbacks typically last just 1-4 weeks, and stocks that previously outperformed tend to rebound the strongest.