Figure Technologies Announces Two Crypto-Backed Mortgage Products (1 minute read)
Figure Technologies, a blockchain lending startup, has unveiled two products that allow users to borrow against their bitcoin or ETH to fund home purchases. The startup will fund 100% loan-to-value mortgages of any amount up to $20 million for 30 years. Payments can be made via the borrower's collateral. Customer crypto will not be rehypothecated. The loans will be processed on Figure's Provenance Blockchain.
Loopring’s LRC Up 34% on Beta Release of GameStop NFT Marketplace (2 minute read)
Loopring's token, LRC, rose 34% after the project shared an update on its partnership with GameStop on Wednesday. The GameStop NFT Marketplace is now open in early access on the Loopring layer 2 blockchain. Users can set up usernames and profiles and make deposits. GameStop announced in February that Immutable X would be its primary NFT partner. It intends to launch the NFT marketplace by the end of July.
Stablecoin yields (3 minute read)
This Twitter thread presents a list of stablecoin protocols that provide high yields and strategies to maximize yield returns. Some platforms and strategies can earn up to 50% APY.
Here's what you need to know around staking proposals AIP4&5 for $APE (2 minute read)
Staking proposals AIP 4 and 5 for $APE are now in the voting stage. This Twitter thread discusses the details of the two proposals. The proposals will create four different staking pools, each with an allotted number of $APE available as rewards for stakers. Access to the pools will be restricted depending on what NFTs are held in the wallet. Staking is only for $APE and not for NFTs. More details about the proposals are available in the thread.
Don't invest in any project unless you have a structured research method in place (3 minute read)
Many investors are attracted to high APRs, but a higher APR is not necessarily always better. Usually, the higher the APR, the higher the risk. Important metrics to consider include trading volume, DEX volume, price action, and relative strength compared to other similar projects. This thread discusses ways to assess project risk. The risk/reward of a project should be evaluated in terms of its APR, TVL, and volume.
What are Rollups (7 minute read)
Rollups offer faster and cheaper transactions for decentralized app developers and their customers. This article explains what rollups are, why they are needed, the different types of rollups, how the Merge will affect rollups, and more. While it is still too early to tell if zero-knowledge rollups will address Ethereum's data availability and scaling issues, it currently looks like they are a step in the right direction.
We’re already buying’: Terra founder plans to obtain $10B BTC for reserves (2 minute read)
The founder of Terraform Labs, Do Kwon, has outlined plans to add $10 billion worth of Bitcoin to the project's reserves. Terra is a decentralized blockchain platform that has an algorithmic stablecoin, UST, maintained using LUNA. Terra will not sell LUNA to build its reserves. The reserves will be used to backstop short-term UST redemptions and for a decentralized forex reserve. Terra will continue growing its reserves until it is mathematically impossible to claim that UST can become de-pegged.
Solana Stablecoin Project Cashio Plummets to Zero After Multi-Million Dollar Hack (2 minute read)
Cashio, a Solana-based stablecoin project, has crashed in price after the discovery of an infinite mint glitch allowed attackers to mint tokens without providing collateral. The team has identified the issue and has instructed users to withdraw their funds from pools. Roughly $28 million of value has been drained from the protocol due to the exploit. The incident is not isolated. Infinite mint glitches have been exploited in other projects in the past.