
BlackPool Bulletin #45
This week has been tough. The SBV failure has been a major incident in the financial sector, and we are still not sure about the repercussions. It also brought a lot of fear in the trad-fi ecosystem. People are realising that their assets are not safer in a bank than on-chain, not even a little bit.
This week has been tough. The failure of Silicon Valley Bank was a major incident in the financial sector, and we are still unsure about the full repercussions. It also brought a lot of fear in the trad-fi ecosystem. People are realising that their assets are not safer in a bank than on-chain, not even a little bit.
We are on the edge of a major economic crisis, but institutions are still fighting imaginary demons while the banking system is collapsing. What a time to ride the crypto train.
- Deep explanations of SVB and analysis from Delphi Digital
- How to approach Arbitrum airdrop carefully.
- Microsoft are building their own non-custodial wallet. What could go wrong?
- Do you know $LUSD?
- Why are all blue-chips down?
- New fake transactions impersonating marketplaces.
- GPT4 is here; will it steal your job?
- How have the stablecoins reacted to the SVB failure?
- How to manage a $1K portfolio?
- GameFi & ERC-4337, we got you.
- What a mess : Deep explanations of SVB and analysis from Delphi Digital.
TL;DR:
- Silicon Valley Bank collapses, causing the 2nd largest stablecoin, USDC, to de-peg and hit a low of $0.85.
- Treasury, Federal Reserve, and FDIC assure depositors will have full access to their money without taxpayer burden.
- Federal Reserve creates the Bank Term Funding Program to support eligible depository institutions.
- Circle CEO Jeremy Allaire confirms USDC reserves are secure and will transfer remaining SVB cash to BNY Mellon.
- USDC's peg nearly fully recovers across major exchanges as Circle initiates redemptions.
1/ Silicon Valley Bank’s collapse is the largest bank failure since 2008.
— Delphi Digital (@Delphi_Digital) March 12, 2023
The bank run has made its way into the crypto ecosystem with the 2nd largest stablecoin $USDC de-pegging to hit a low of $0.85.
Here is our MEGA-thread that is following the situation LIVE: ⬇️🧵
2. Airdrop? Soon. How can we price it? Good tokenomics approach (DYOR, of course).
- Arbitrum One gains significant TVL/volume and emerges as a profitable financial applications chain with promising fundamentals.
- Despite challenges like high initial supply and minimal year 1 emissions, $ARBI is expected to recover quickly and perform well.
- After the initial sell-off, minimal sell-pressure for the first year is anticipated, positively influencing ecosystem tokens through a trickle-down effect.
*Arbitrum Tokenomics Deep-Dive Analysis*
— Flip Research (@Flip_Research) March 17, 2023
The $ARBI airdrop might be the most hyped drop this year. But how does it compare with previous big airdrops, and how will pricing play out?
In this thread, I've compared $ARBI to $UNI, $OP and $1INCH, with interesting results... 🧵👇
3. Microsoft are building their own non-custodial wallet on Microsoft Edge explorer.
- How do you feel about a crypto wallet in your native browser?
- Edge is known for its multiple vulnerabilities: how will this end?
Newest in the gauntlet of questionable upcoming Microsoft Edge features, a crypto wallet 💸
— Albacore (@thebookisclosed) March 17, 2023
Not really sure how to feel about this kind of thing being baked into the default browser, what are your thoughts?
More screenshots of the UI in the next tweet ➡️ pic.twitter.com/GAUPiZGLIY
4. Technical View: $LUSD by Liquity.
- Why was it so noteworthy this last Monday? A few key elements from this massive thread.
- Liquity Protocol's $LUSD stablecoin maintains stability through four key mechanisms: Redemption, Stability Pool, Redistribution, and Recovery Mode.
- Redemption and borrowing fees work together to keep $LUSD pegged to $1, with arbitrageurs profiting from temporary de-pegs to help restore the peg.
- The Stability Pool enables instant liquidation of under-collateralized loans and incentivizes users to participate as liquidators through potential profits of 8%-10%.
Regarding $USDC crisis, it's time to revisit the most stable stablecoin - @LiquityProtocol' $LUSD with:
— DeFi Cheetah 🐆 ¤🫐🦇🔊🌿 (@DeFi_Cheetah) March 14, 2023
- 0 governance
- fully decentralized collateral + UI
- instant liquidation
- lower liq. level than @MakerDAO
- no loss to holders since launch
How can it achieve all these? pic.twitter.com/tbk0HIyWTl
5. Floor Prices are down. How can you attract more people to these blue-chip collections?
- It is time to talk about holders' expectations. Did these projects overpromise? Underdeliver?
- How to fix this, and why massive blue-chips are harmful to the whole ecosystem when they fail.
The NFT Market is going through a MASSIVE reset
— Hunter Solaire ᵍᵐ (@huntersolaire_) March 16, 2023
Projects we thought were blue chips are slowly dying
Here's why they're bleeding and how they can fix it 🧵 pic.twitter.com/vcXe1olXcy
6. Security is the key. Always take care of what you sign.
- Hackers simulating marketplace signatures is not new, but it is getting more and more tricky to do so.
- You can (and should) protect your wallet with multiple extensions to prevent these kind of hacks.
- In general, never sign if you are not 101% sure of what you are doing.
Blur signatures are now being used to steal NFTs ☠️
— Pocket Universe 🟣 (@PocketUniverseZ) March 14, 2023
These are even more dangerous than the Opensea/Seaport signatures because the message is unreadable
We've already added a security measures to keep you safe
Here's a quick rundown 👇 pic.twitter.com/ujAwmOfcMa
7. Futur is near. Is it?
- GTP-4 is here and way more powerful than 3.5.
- Is it perfect? Will you lose your job? No, of course.
- Is it useful? Yes, more and more.
here is GPT-4, our most capable and aligned model yet. it is available today in our API (with a waitlist) and in ChatGPT+.https://t.co/2ZFC36xqAJ
— Sam Altman (@sama) March 14, 2023
it is still flawed, still limited, and it still seems more impressive on first use than it does after you spend more time with it.
8. How have the stablecoins reacted to the SVB failure?
- $USDC depegged and caused ripple effects throughout DeFi, then repegged.
- ATH for Curve with $8B in volumes.
- $LUSD stronger than ever…
March 13, 2023: SVBF 🏦🏃
— curvecap.lens (@CurveCap) March 13, 2023
How various tokens reacted to the recent bank runhttps://t.co/uIUmi6hNpP
Effects of the weekend turbulence on $USDC, $USDT, $CRV, $DAI, $FRAX, $MIM, $LUSD, and $TUSD
🧵1/10👇
9. Who has ever wondered which scenario to choose? Wen Lambo?
- These simulations can help you understand how to manage your wallet.
- Don’t forget time management and mental health management.
"What if I just invest in all the coins of the top 100 and wait?"
— Verum Capital (@verumcapital) March 15, 2023
"What if i just spot buy $ETH and hold?"
"What if I only choose recent binance listings?"
7 CMC data-driven portfolio simulations + 6 key conclusions to prepare for next bull 🧵👇 pic.twitter.com/arwz3e8pct
NEWS: Playboy discloses $4.9M impairment on ETH holdings accepted for NFTs.https://t.co/SRJjfS38Ef
— Blockworks (@Blockworks_) March 17, 2023
10. Next Reading? ERC-4337 and GameFi.
- The BlackPool Lab explains to you what will change with this major Ethereum update.
- How will it affect GameFi and the gaming industry in general?
Are you a little bit lost about ERC-4337 on Ethereum?@BlackpoolHQ Labs has you covered.
— BlackPool Finance (@BlackpoolHQ) March 14, 2023
What is the future of the GameFi narrative? What will it change for the gaming industry in general?
👇👇👇https://t.co/2dQDniW4EX pic.twitter.com/vSkQq81BmG
That's all, folks: see you next week!
BlackPool Newsletter
Join the newsletter to receive the latest updates in your inbox.