In This Issue

I interviewed the team from XDEFI a new contender in the crypto wallet space. Rebecca also breaks down this week’s top trending coins for you.

Also I have been on the hunt for some hot Bitcoin rates for my portfolio since the rates in Convex Finance have fallen a lot. Here are some of the options I am looking at now. I hope you find this useful

Bitcoin Rates 

Decentralized Finance *** As always smart contract risks are an ever present danger which could result in a total loss of funds.

The rates for lending out Bitcoin across the market have generally not been awesome for a while now. BUT there are still some places where you can get some good rates. 

Yearn Finance around 13% for Wrapped Bitcoin if you use the Fantom Network version of Yearn Finance. 

Beefy Finance on Polygon is offering almost 9% for providing liquidity to the renBTC/WBTC pair.

Bancor on Ethereum is paying a little over 5% on Wrapped Bitcoin.

Centralized Lenders *** These generally offer lower rates,  but you can deposit real Bitcoin, not wrapped varieties.

Celsius is still giving 6.2% on Bitcoin, BUT only for the first 0.25 BTC. 3% for any BTC beyond that.

Nexo is offering 4%, including higher earning potential if you take their token. Not a fan of that model personally but it doesn’t immediately appear they have limits either. 

Ledn is offering 6.25% for up to 0.5 BTC and then 2.25% for any BTC after.

Crypto.com offers up to 8.5% assuming you hold $40,000 or more CRO tokens…, but the rates for holding no tokens are still 4.5% which is DECENT!!!

Blockfi’s rates remain terrible.

Interview

For anyone not familiar what is XDEFI?

XDEFI is the multichain wallet for Terra, THORChain and Ethereum.

• Display and manage NFTs from every chain in a customisable gallery.
• Access and interact with 9,000+ dApps from nine different blockchains.
• Enjoy permissionless cross-chain swaps.
• Stake and earn from within the wallet.

More info -> https://xdefi-wallet.gitbook.io/xdefi-wallet/

What does the XDEFI token do? 

$XDEFI is a utility token, and its tokenomics were designed by Delphi Digital; the team behind $LUNA, $AAVE, $AXS, and other top names. 

$XDEFI follows a veModel – with some nuance to it.

The utility from $XDEFI powers the broader XDEFI wallet experience including fee discounts and rebates, play to (l)earn, sybil attack defense, and access to premium features: 

Fee discounts and rebates for stakers: 

• Fees generated by XDEFI Wallet in $ETH or other native assets are converted into $XDEFI and used to provide stakers with: 
• Rebates on the fees incurred while using the Multichain DEX / bridge of the wallet; and
• $XDEFI rewards once rebates have been paid. 

The longer stakers lock in their $XDEFI, the more rebates/rewards they will receive.  The more fees generated by the wallet, the more buying pressure on $XDEFI, which results in higher rebates and rewards for stakers. 

Play to (L)earn: (coming soon)

• We plan to launch a novel Play to (L)earn feature within the wallet and on a dedicated web-app. 
• Users will earn rewards in $XDEFI to learn about DeFi and NFTs, wallet security, and explore XDEFI Wallet features.

Access to Premium features: 

• $XDEFI stakers and holders will have unique and preferential access to promotions, collaborations and giveaways involving the XDEFI Wallet. 
• Custom wallet skins
• Access to cross chain public API
• Access to on-chain analytics within web-application 
• Unlock XDEFI cross chain name services
• Voting on specific matters

More info -> https://xdefi-wallet.gitbook.io/xdefi-wallet/token-economic-model/ntroduction

What chains do you currently support? 

We currently support Bitcoin, Ethereum, Polygon, Binance Smart Chain, Binance Chain, Terra, THORChain, Litecoin and Bitcoin Cash.

What features really make XDEFI stand out from the competitors?

XDEFI WALLET is the world’s only Chrome wallet extension to integrate nine blockchains from three different chain frameworks:

• Terra and THORChain            (Cosmos)
• Ethereum, BSC, BNB, Matic (Ethereum-based)
• Bitcoin, Litecoin, Bitcoin Cash    (Bitcoin UTXO)
  

Can you tell us about some of your safety features?

We are supporting ledger for ETH, THORChain, Terra, Binance Smart Chain, Polygon and soon for Bitcoin.

We are researching and working on a PoC for a non-custodial 2FA feature.

What is your plan to on board users? 

We’ve allocated 15% token supply to our Play to Learn initiative. It’s an educational framework to onboard people into the web3 (DeFi, NFTs). We’ll incentive people to use our wallet and educate themselves about the decentralized world.

What comes next for XDEFI?

February 2022:

• Multichain DEX/Bridge Aggregator: Wormhole, Connext/Hop Protocol
• THORChain: Synthetic assets
• NFTs: Send functionality EVM, Sell NFTs – NFT 20 integration, Trade NFTs – NFT trader integration
• Hardware wallet: Bitcoin Ledger Support
• Core wallet: controllers refactor
• Chain integration: Fantom
• Mobile: dashboard, performance tracker, NFT display, address tracker
• DeFi: Single-side staking (EVM)

March 2022:

• Multichain DEX/Bridge Aggregator: Paraswap/1inch, cBridge
• Hardware wallet: Trezor EVM
• Chain integration: Solana
• Mobile: additional features
• Web app: Dashboard, performance tracker, NFT collection & management, address tracker, single-sided staking

For Q2 of 2022:

• Custom EVM network
• Non custodial 2FA
• Additional Trezor support
• Mobile wallet features (manage tokens/NFTs from the wallet, cross chain swaps, single sided staking, peer to peer NFT trading)

Trending Coins by Rebecca

Here are my key takeaways from the trends this week, and it seems like we have bottomed out for now, sentiment is changing, and development continues!

1 – Smooth Love Potion is an Axie Infinity token, that’s been in a downtrend since summer of last year due to inflation. The recent Axie announcement to reduce the SLP supply has been welcomed, with price action rocketing.

2 – Gala Games are a play-to-earn gaming ecosystem that’s launched their first collectible card game called Legends Reborn with a venue presale and developer AMA. They have also launched some pre-sales in the games, Town Star and Spider Tanks.

3 – Fantom has held up strongly during the market downtrend, and the ecosystem continues to develop with more validator nodes joining the network. The Fantom network is also celebrating 30M blocks created and 180M transactions processed.

4 – Telos is an L1 blockchain that’s rallied 229% from its January low after new partnerships and dApps announced with BikeChain and DappRadar. They also have NFTs coming soon, hosted a hackathon on 1 February and launched their 2022 roadmap last week.

5 – Juno is an interoperability smart contracts platform that’s connected to Cosmos, and they have just launched their multi-purpose dApp, Juno Tools, in beta. They have also launched DAO functionality and already have 752 DAOs created.

6 – Shiba Inu is a meme coin that’s gained 75% in two weeks, after a possible burn has got the token pumping. The world’s first crypto record label, Bigger Entertainment, has announced a Valentine’s Day event to burn 1 billion SHIB. 

7 – LooksRare is an NFT marketplace rivalling OpenSea, that’s been trending for the wrong reasons. The platform is hot off its January 2022 launch, but has been hit with a ton of wash trading that’s inflated prices.

8 – Binance Coin (BNB) is the utility coin for the exchange. Binance are trending this week due to the Africa Cup of Nations soccer tournament that’s happening, in which they are the official sponsors.

9 – Axie Infinity is a play-to earn game that’s announced a series of ‘economic changes’ that will launch with Axie’s upcoming 20th in-game season, to make it less inflationary. The Axie token AXS has seen gains of 40% this week upon the news.

10 – Ethereum is gaining attention this week after GameStop partners with L2 solution Immutable X for NFT marketplace.

11 – Ronin is the Ethereum sidechain built for Axie Infinity and is still gaining attention after the launch of its native governance token, RON. 

12 – Polygon is an L2 scaling solution for Ethereum that’s announced a new integration with Drips for recurring payments and subscriptions, as well as $450M in funding and Solace launching on the network. They also hosted their Web 3 event this past week.

13 – Wonderland (TIME) is a rebase coin that’s been on the brink of collapse in recent weeks, but it appears they are committed to fixing things. Wonderland have partnered with Binance to host an airdrop this week.  

14 – Bitcoin looks to have bottomed out for now this past week and continues to lead the inflows with $71M last week, the largest since early December.

15 – Solana’s been hit with more FUD this week, having been caught in the middle of the Wormhole exploit. However, they have launched the iOS app for Phantom wallet (read how to use your Solana wallet with Phantom here) and also announced an upcoming global hackathon. 

Final Notes

Thank you so much for your support, and I truly hope that today’s issue will give you insights needed to help you master your wealth.

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See you next time!

Lark and the Wealth Mastery Team

Legal Disclaimer

TCL Publishing ltd (director Lark Davis, owner of Wealth Mastery) is not providing you individually tailored investment advice. Nor is TCL Publishing registered to provide investment advice, is not a financial adviser, and is not a broker-dealer. The material provided is for educational purposes only. TCL Publishing is not responsible for any gains or losses that result from your cryptocurrency investments. Investing in cryptocurrency involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire investment. Investors should consult their financial adviser before investing in cryptocurrency.