Category: Cryptocurrency News

Anchor Protocol, one of the most popular platforms in the Terra ecosystem, rolled out a change in its Earn Rate. The latter will begin to operate in a semi-dynamic fashion rather than the previously fixed 20% annual percentage yield (APY). Related Reading | Terra Price Continues Moving North; How Soon Will It Cross $100?  With a massive shift in the protocol’s reward mechanism, the new models aim at making Anchor “more sustainable”. As a result, users started earning an 18% APY as of yesterday, May 1. The earn rate will be modified each month for the foreseeable future. The team behind this Terra project said the following via their official Twitter account: The Anchor Earn rate adjusts dynamically by up to 1.5% each month based on if the yield reserve appreciated or depreciated. The floor is 15% APY & the ceiling is 20% APY. The changes in Anchor’s earn rate are triggered by the protocol’s yield reserve. A .25% modification in this element will be followed by an adjustment in the Earn Rate. This shift in the Terra protocol was approved, via Proposition 20, on March 24 this year. At the time, Anchor Protocol said: The addition of a semi-dynamic Earn rate will contribute to the long-term sustainability of Anchor & will benefit users of the protocol by enabling yield reserve growth while continuing to provide an attractive yield on UST. As seen below, the total borrowed versus total deposits on Anchor shows significant divergence. This is why the yield reserves on the protocol trend to the downside, especially in times of bearish price action on larger cryptocurrencies. Some of the users believe that this trend could trigger a deppeging event for UST which could jeopardize the entire Terra ecosystem. The introduction of a semi-dynamic rate is the first step to avoiding this possibility. Terra Is Not The Most Attractive Venue For Stablecoin Yield? Some users believe that the new earn rate might not be enough and have been suggesting the implementation of investment strategies that can contribute to the yield reserves. Another part of the community seems focused on increasing the borrowing rate at Anchor. However, as the chart above shows, deposits on the Terra protocol have been trending to the upside at a fast pace. In the meantime, the number of borrows has been moving sideways with a slight uptick in recent months. Over the same period, other network launched their own stablecoins with alternatives to Anchor. NEAR and TRON stand out because of the hype and the APY that they are offering to their users. TRON seems to have the largest incentives as it provides depositors with a 30% APY. Like Terra users with Anchor, many wonder if those rewards will be sustainable. Related Reading | Terra Users Heads Up, Why NEAR May Launch Native Stablecoin With A 20% APR At the time of writing, Terra (LUNA) trades at $83 with a 6% profit in 24-hours.

As we all continue to be depressed about Bitcoin not doing anything in the past four months while being down 45% from its ATH for half a year. Bitcoin does not care and is undergoing a prime phase of mass adoption with everything from loans to option trading in banks to legal tender. Especially there…
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Yuga Labs faces accusations of fraud, manipulation and preferential treatment from unhappy community members over Otherdeeds NFT mint.

Hi everyone, My good friend, Matty D (Only his real friends call him this) told me that fortune favors the brave. Now, Matty D would NEVER lie to me. He’s my most trusted ally. So, what did I do? I invested EVERYTHING into CRO. Why? Matty D, a man that has been to Mars, guaranteed…
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For the sake of clarity first. Both of my parents know that I invest in crypto and are both not big fans of it. My mom is a little more relaxed on the subject than my dad. I had to explain it to my parents because I am only 18 and wanted to start at…
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Mairead McGuinness said the U.S. and the EU were both moving forward on comprehensive frameworks for crypto, with President Joe Biden’s executive order and the MiCA proposal.

Transient is thrilled to present to users Splash, a decentralised hub for prediction pools covering all possible outcomes across a huge range of industries and opportunities—featuring in the first version: Crypto, Esports and Sports—all powered by Transient’s ecosystem of smart contracts. Splash comes to disrupt the prediction markets bringing the decentralisation and fun to the […]

Bitcoin is not topping the list of the favorite investments of some big names in the financial sector. One of those is billionaire Warren Buffett who has not been shy to voice his displeasure with the digital asset. This time around, Buffett has once again made known his hatred for the digital asset by saying that he would not buy all of the BTC in the world for $25. This has drawn the ire of investors in the space, one of which is Mexico’s third-richest man, Ricardo Salinas Pliego. Warren Buffett Disses Bitcoin Billionaire and legendary investor Warren Buffett recently made some remarks about bitcoin. The most popular of these have been the fact that he said that if he were offered all the bitcoins that exist for a measly $25, he still wouldn’t take the deal. The Berkshire Hathaway head said this at the annual shareholder meeting where he once more reiterated his disdain for cryptocurrencies. He explained that bitcoin had nothing to offer, making it an unproductive asset with no tangible production.  Related Reading | Tether (USDT) Q1 Trading Volume Plunges To $5.3 Trillion In Quarterly Low He compared the digital asset to other stores of value which include land and apartments. Both of these, the billionaire admitted he would jump at a chance to put money into them. However, he wouldn’t do the same for bitcoin because it doesn’t produce anything and he would “have to sell it back to you one way or another.” Despite the popularity of the digital asset over the years, the billionaire is still not convinced of its valuability. He pointed to the fact that he can’t tell for sure where the asset will be in the next five or 10 years but remains completely sure of the fact it does not produce anything.  “It’s got a magic to it and people have attached magics to lots of things,” Buffett noted. Salinas Fires Back Buffett’s comments about bitcoin have no doubt stirred up criticism from the bitcoin community. They came out en masse to support and fire back at Buffett after the video made the rounds on social media. Bitcoin supporter and Mexican billionaire Ricardo Salinas Pliego also took time out to rebuke Buffett’s comment. BTC holding the $36,000-$38,000 support level | Source: BTCUSD on TradingView.com Salinas noted that Buffett was old and immune to change. Also adding that he was obviously commenting that he has no understanding of whatsoever.  It's sad to see him rambling on about a suubject he clearly does not understand. That's why the future ALLWAYS belong to the young and not the OLD. https://t.co/2L5Lc8zHjE — Ricardo Salinas Pliego (@RicardoBSalinas) May 1, 2022 Related Reading | Bitcoin Halving Model Suggests $24,000 Bottom Before Year’s End The billionaire has not been the only one to fire back. Others have pointed out that Buffett continues to have holdings in crypto-friendly bank Nubank, as well as SBI Holdings and Bank of America which own more than 10% of Ripple and a Ripple partner respectively.  BTC continues to maintain a good position on the charts. It is currently trading at $38,690 at the time of this writing. Featured image from Bitcoin News, chart from TradingView.com

Jared Polites is a partner at Rarestone Capital, an active Web3 fund with a marketing arm (Rarestone Labs). Since 2020, Rarestone has been at the forefront of investing in and marketing DeFi protocols, NFT drops, and Web3 infrastructure plays. As the industry is ever-changing, we wanted to catch up with Jared to see what has changed since the last cycle and how projects can best position themselves for success when thinking about marketing. What are some tips you can offer to projects building out a marketing plan? Polites: Similar to traditional tech user acquisition, projects need to build an effective communications strategy that discusses what value they are providing and how it directly impacts their users and communities. First, the key is to be consistent. Going “stealth” is a wild card strategy that can be used early on to gain momentum, but should not be the focus as a roadmap progresses. Over-communicate vs. under-communicate is my advice. Especially since attention spans are decreasing and community members will take their interest elsewhere if they don’t know exactly what is happening and when. Second, make sure to have at least one marketer on your team. It sounds simple, but we find numerous dev-heavy teams that neglect marketing until the very last minute. In these situations, it is completely fine to outsource to agencies, but you need to have a point of contact internally to help coordinate and review each activity. Even someone junior is fine. A common misconception is that a good enough product will market itself, but the industry is becoming more crowded and moves at warp speed – you have to stand out from the crowd. What has changed since 2017 in how projects should market themselves? Polites: Communities, users, and even speculators are more sophisticated and to an extent, unforgiving. Short-term focused tactics that were often seen in the last cycle are now quickly exposed if detrimental to a project. For example, there is a recent trend that is questioning the long-term impact of staking. Often seen as a necessary early-stage strategy that helps reward engaged long-term users (and makes for a strong community announcement), industry players are now questioning the sustainability of staking. Is staking just a ploy to maintain a positive price trajectory and reduce sell pressure, or is it really about the community? These are the questions and dilemmas that projects need to question when building a well-rounded marketing strategy. What are some common pitfalls you see with how companies market themselves? Polites: Many are not long-term focused. Make sure your marketing strategy aligns with your long-term vision and roadmap. For example, I see founders get caught up with flashy marketing campaigns that are detrimental to a project’s long-term token health. With generous emissions, interest spikes early on and then wanes as community members move on to the next shiny object. During this process, you need to evaluate what risk a marketing campaign must hold and why. Without this knowledge, all it would take is one bad market downturn to eliminate all momentum and possibly create a situation that is impossible to recover from.  

Charlie Munger, the Vice-Chair of Berkshire Hathaway and colloquially known as Warren Buffet's right hand man took on BTC during Berkshire Hathaways annual shareholder meeting There he called Bitcoin "stupid because it’s very likely to go to zero" and also praised Chinese leader Xi Jinping for banning BTC. He also claimed that Bitcoin is "evil".…
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