💰 Investor’s gains grew 409%

Contents:

  • 💰 Investor’s gains grew 409%
  • 🌱 Bean Exploit explained
  • 🕹️ Let the Games Begin.
  • 👀 Under the Radar
  • 🛠️ JOBS Section
  • 📰 ICYMI
  • 🙏🏻 Grateful for…
  • 💸 Coupons

💰 Investor’s gains grew 409%

Crypto investors made $163 billion in gains in 2021: Chainalysis. Crypto investors took home about $162.7 billion in realized gains in 2021, according to a blog post by blockchain analytics firm Chainalysis, showing it was a stellar year after $32.5 billion in 2020. Out of this, US investors took the lion’s share of the profits, netting some $47 billion — around 29% of the total amount. These investors were followed by those in the UK, Germany, Japan and then China, which banned bitcoin mining and poured cold water on investing in crypto early in the year. (Via Messari)

🌱 Bean Exploit explained

Beanstalk uses credit instead of collateral to create a decentralized, liquid, blockchain-native asset, which is stable relative to the value of a non-blockchain-native asset. Beanstalk, an Ethereum-based stablecoin protocol, has been drained of more than $80 million worth of various cryptocurrencies. The hacker was able to use a flash loan attack in order to purchase plenty of BEAN tokens. They then created a fake BIP-18 in order to mint an unlimited number of tokens. The Beanstalk (BEAN) stablecoin has lost its peg, collapsing to virtually zero following the attack. I personally lost over $1k as I decided to deposit some beans into their silos this past weekend. Hackers will hack and these exploits will become more prominent and happen more often. We have to do our own research when investing in crypto and DeFi and deposit only what we are willing to lose.

Safety Points to consider:

  • The higher the TLV (Total Value locked) the more secure the protocol is
  • The higher the APY (Annual percentage yield) the higher the risk and usually the lower the TLV.
  • If it’s a new protocol, please research it as deep as possible.
  • Just because the coin is stable, it doens’t mean that it will always be. Coins can lose their peg. Learn about the coins strategies, how the pegged is structured, and who is behind the project.
  • Rug pulls are becoming a daily thing. Many institutional investors buy early into a project, and as the price appreciates they take profits. Not a purposely done rug pull, but pulling half of the value out of a coin or DeFi protocol will leave the other half broke. Check who the investors are and what their strategy is.

🕹️ Let the Games Begin.

Investors Poured $2.5B Into Crypto Games in Q1 2022: Report. A new report by DappRadar and the Blockchain Game Alliance (BGA) suggests that 2022 will be a benchmark year for crypto games developers. The report reveals that $2.5 billion in investments was raised in Q1 alone this year, adding that developers could see this figure balloon to $10 billion by the end of the year. Compared to previous years, these figures also suggest the niche has become a key sector for investors. In 2021, for example, just $4 billion was raised throughout the whole year. The investment trend is also supported by growing interest from crypto enthusiasts. Blockchain gaming attracted 1.22 million unique active wallets (UAW) last month and currently accounts for 52% of the blockchain industry’s activity.

❤️ “988” Suicide Line.

I’m very saddened to share that one of my wife’s very close cousins (our cousin) died by suicide a few days ago.

Mental health is a big issue. Most of us do not share if we are suffering nor take it seriously. Please reach out to your friends and family constantly to check on them. Ask questions, and share your experiences. Most importantly, check yourself. Look in the mirror and be honest and brave about your mental condition, your struggles, and your state of mind. Life is not easy and is not supposed to be, being vulnerable is hard, but can take us a long way and set an example for others to open up and be vulnerable. It is ok to no be ok.

Why it matters: The overall suicide rate in the U.S. increased 30% from 2000–2020, with LGBTQ youth more than four times as likely to attempt suicide as their peers.

Catch up quick: Phone service providers are required to route calls or text messages sent to 988 to the National Suicide Prevention Lifeline (1–800–273–8255) by July 16, USE it and share it please.

👬🏾 Will All Tech Unionize?

Labor organizers see Apple and Amazon offering them an opening in the tech industry’s longstanding barriers against unions, thanks to the nature of their workforces.

A team of Amazon workers has forced the technology giant to recognize a trade union in the US for the first time.

Workers at a New York warehouse voted 55% in favor of joining the Amazon Labor Union.

The group is led by former Amazon worker Chris Smalls, who made his name protesting against safety conditions at the retail giant during the pandemic.

Mr Smalls’ victory marks a major defeat for Amazon, which had fiercely fought against unionization.

How it works: Unlike their competitors, these firms each have massive payrolls in retail or warehouse jobs, and those roles are seen as friendlier to unionizing efforts than the engineers and salespeople at corporate HQ.

Why it matters: Amid a broad decline in the number of unionized American workers over the last 40 years, the tech industry has long painted unions as a danger to Silicon Valley’s reputation for innovation and flexibility.

We may start to see a large number of Amazon warehouses, tech firm workers, Starbucks locations and even DeFi protocol workers join unions to be able to fight for their rights. We shall see…. Jimmy Hoffa is back…

Refer a friend

👀 Under the Radar

  • Nation3 (NATION) — Community movement towards creating a sovereign nation on the cloud. Its mission is to research, launch, and fund initiatives, products, and services essential to a thriving cloud nation. The $NATION token will serve as the gateway to participate in the community Discord, participate in governance decisions, receive an NFT passport, and eventually receive the services provided by the new cloud nation.
  • The Laboratory ($LAB) — AMM & decentralized Exchange that experiments with creating a sustaining DeFi ecosystem using the Cronos ecosystem. Boasts multiple products in their ecosystems such as yield farming, vaults, token & NFT launchpad, NFT marketplace, and a Play & Earn game. The ecosystem rewards its community by using collected fees and royalties back to token holders, LP vault participants, and Crazy Scientist NFT holders.
  • Nexum (NEXM) — “Unbanking shipping. Fintech platform built to securely and efficiently provide funding to traders in the shipping and oil industry. NEXM is a utility token that traders and other maritime ecosystem participants must use to receive funding and obtain access to services offered by the platform. Incentivizes the adoption of blockchain technology and crypto payments by the maritime ecosystem members. Shipping is a fragmented and opaque industry that naturally lends itself to crypto applications. Its multijurisdictional and multicurrency nature provides a fertile environment for token utilization that will make cross-border payments and remittances quick and efficient.
  • Steem (STEEM) — Cryptocurrency that rewards users for community building by posting and upvoting valuable content for others. Steem was inspired by the success of Reddit where the community helped enrich the shareholders. Steem aims to help distribute the rewards to the community members who help create the community in the first place. Steem aims to provide various services to its members such as a source of curated news, Q&A, job boards, etc. The founders of Steem came from BitShares with Dan Larimer involved as well.

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