In This Issue
- My portfolio updates.
- Rebecca shares her thoughts on the new EU crypto regulatory framework, Multichain CEO goes missing, Honk Kong kicks off crypto trading with a stablecoin, crypto job cuts continue & Nvidia hits $1 trillion market cap.
- Altcoin Alpha by David.
- Airdrop of the week by Jesse.
- Jesse has a deep dive on the top 5 BRC20 coins.
- Sam has a report for you on how big brands are using NFT loyalty programs.
- In case you missed it by Rebecca.
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Lark’s Portfolio
Buys and Sells
I added a little bit of Bitcoin at $26,750.
I added a little bit of ETH at $1,850.
As mentioned earlier this week I added:
- JOE at $0.41.
- ARB at $1.23 and again at $1.14.
I sold GMT and RIDE received from venture investments.
Zksync
I took a few minutes this week to open up Zksync and do a few swaps on the Mute App. Hopefully, this will be enough to qualify for any future airdrop. I intend to do this every few weeks to give myself a good chance of getting the drop.
More Trader Joe updates!
So, this week I moved my JOE tokens from Avalanche over to Arbitrum. I used the USDC rewards that I had accrued from staking to buy more JOE. The current prices seem attractive enough. I continue to be impressed by JOE. Although Uniswap maintains broad market dominance due to its first-mover advantage, I feel like Trader Joe is everything that Uniswap should have been. It is user-friendly and actually has a use case for the token.
PS, Trader Joe just launched Auto-Pools, I will keep a close eye on that and might start using them soon.
Missed It Again
This market moves so fast that waiting until tomorrow can be a costly decision. But, for better or worse, the inner ape in me remains cautious. Burned too many times I guess?
Anyway, my “big miss” last week was Lybra Finance. I was thinking to take a position when it was around a dollar, didn’t and then watched it soar to 4 bucks in 3 days.
Silver lining, it came down hard once vested coins start unlocking, but still.
Need to connect more with my inner ape.
Though the real play here is to farm this coin. But, if I do that then I have to pay taxes. Minting eUSD with my ETH, is a taxable event. Entering an LP position is a taxable event and high risk due to impermanent loss, and on a small cap like this, the potential for loss is high. It could be worth it to take the tax hit, but I am not yet convinced. Will update you if I pull the trigger.
Newest Narrative To Watch
Liquid Staking Finance: This is a layer built on top of the liquid staking craze. But, also just more liquid staking.
- Lybra Finance is one such protocol which uses staked Ethereum to make a USD stablecoin that pays out a robust yield.
- Pendle Finance allows you to buy assets at a discount.
- Curve Finance also fits the narrative. Plus, their crvUSD stablecoin just launched.
- Instadapp’s iETH offers a higher yield (6.6% compared to Lido’s 4.8%) by putting the assets to work.
- Two upcoming LSDfi protocols Prisma Finance and Claystack (I am a presale investor) could be worth keeping on your radar as they both have huge…
