Microstrategy & MassMutual balls deep in Bitcoin, Ethereum ETF & more
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Despite the slide in prices this week, DeFi continues its revolutionary impact on the financial ecosystem with impressive pace.
The long-awaited institutional wave is among us and it seems things are just getting started.
Get caught up on another action packed week in DeFi, we got you covered in this week’s recap!
-Rob
???? Big Ups To Our Great Sponsor Aave: Earn Interest & Leverage Your Assets with Aave, a non-custodial money market protocol leading the #DeFi charge.
ALPHA LEAK: Deposit LINK tokens into Aave to get aLINK, then head over to Yearn to put your aLINK into the yaLINK vault for extra yield. It all starts here with Aave!
???? Shoutout to DeversiFi! Trade at lightning speed, with deep liquidity, directly from your privately-owned cryptocurrency wallet on DeversiFi’s L2 gasless exchange!
????Their new roadmap is LIVE with liquidity mining on Beehive 1.0 coming soon????Wiretap Wednesday: Going Risk-On using DeFi Tools
Wild Weekend Pump: Here’s The Quick ‘n Dirty
MicroStrategy $650m Convertible Notes
Fellow degen, Michael Saylor, shows no signs of slowing down the incredible accumulation rate we are seeing from MicroStrategy. This week he announced an offer of $650m in convertible notes at a .075% interest rate to fuel his next round of Bitcoin purchasing. This was initially met with skepticism on announcement, but Saylor completed the entire round just days after launching silencing the skeptics with sheer demand. MicroStrategy has already purchased over $450m of Bitcoin prior to this latest announcement.
MassMutual $100m
The latest institution to join the hedge on inflation is MassMutual. Members of the community are particularly excited about their entrance to the Bitcoinsphere because insurance companies are one of the most heavily regulated industries in finance. A successful entrance by MassMutual signals to other institutions under scrutiny that there are available paths to enter the Digital Asset realm.
Ethereum ETF on TSX
Advancements for Ethereum were plentiful this week, even in the Centralized Finance ecosystem. After a $76m round of funding, the 3iQ fund was able to secure a listing for their ETF on the Toronto Stock Exchange. This isn’t a huge shock since there is already a Bitcoin ETF on the TSX. Now it’s up to American financiers to keep the ball rolling in CeFi.
Pickle Exit Drama
Moving on to the latest DeFi debacle — Pickle Finance is showing suspicious activity. Despite a recent acquisition by the Yearn team, the Pickle protocol seems to have fled their own project. We are not particularly close with how Pickle is handling this issue, simply remember to use caution when playing with experimental money legos.
Cover <> Nexus Mutual Reinsurance
The two leaders of decentralized insurance are bringing synergy to smart contracts. Nexus Mutual has added the ability to insure coverages on Cover. This is traditionally defined as reinsurance since there is now ability to insure an existing insurance protocol. The sky’s the limit as both teams explore the possibilities for decentralized insurance beyond smart contracts.
ETH 2.0 Beacon Address Full
The progress of Ethereum 2.0 is slow but steady. After years of preparation, the beacon address has successfully launched and filled with the required amount of ETH. We are still a long way from sharding transactions and reduced gas fees but this is an important step in the right direction. Next on the checklist for ETH2.0 is staking rewards paid to these node validators.
Sponsor Updates
AAVE Aavegotchi
Aave continues to push forward in creative new ways. Last week was Aave v2, now on the horizon is a more gamified approach. Aavegotchi is set to launch the first week of January where participants can customize their Aave collateral with NFT wearables and different DeFi traits.
Deversifi Beehive Period 1 Wrap Up
The first stage of Deversifi Beehive has come and gone. There was over $150k in rewards paid out to stakers. Now begins Period 2. During these early stages stakers enjoy multiplied staking rewards and increased APY’s. Put your $NEC to work!
Sponsor Update: Oxis Wallet is an easy-to-use, non-custodial wallet for DeFi degens like us. Secure, safe, and simple, the Oxis Wallet is a must have!
You know what they say…not your keys, not your coins 😉
⚠️ DISCLAIMER: Investing into cryptocurrency and DeFi platforms comes with inherent risk including technical risk, human error, platform failure and more. At certain points throughout this post, we might get commission for promoting certain projects, if this is the case we will always make sure it is clear. We are strictly an educational content platform, nothing we offer is financial advice. We are not professionals or licensed advisors.
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