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| Your Weekly Update On All Things Crypto |
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| Constitution DAO Raises over $40M Ether in Bid To Buy The U.S.Constitution |
The original print of the United States Constitution has only 13 surviving copies. After a high-stakes bidding battle that captivated the Internet's interest and imagination, a DAO (decentralized autonomous organization) recently stated that it had lost its bid to successfully purchase one of the original copies of the U.S. Constitution from a recent Sotheby's auction.
The United States Constitution sold for just over $43 million at Sotheby's this past Thursday. The winner was also recently revealed to be none other than hedge fund billionaire Ken Griffin, who is both the founder and current CEO of Citadel. Although defeated, the daring rise of the DAO, a collection of individuals who had connected with each other via the Internet, is nevertheless a unique situation that must be examined further. What happened? The group of individuals had been identified as ConstitutionDAO. Following a brief burst of enthusiasm on Twitter, when some members of the organization incorrectly declared that they were victorious, the group then issued a follow-up statement clarifying what had actually transpired. According to the announcement, the organization may have lost the bid but it nevertheless made history by raising the biggest amount of money through crowdfunding within a time period of under 72 hours.
According to one organizer in the DAO's Discord channel, the group was defeated because it did not earn enough money to construct the reserve needed to consistently preserve and maintain the document. Moreover, the participants of the DAO would reportedly receive their money back, excluding gas fees. Constitution DAO's bid had witnessed thousands of contributors continuously donating via ETH. The founders of the organization had gathered for the first time just over seven days ago which was around the time that they began requesting funds. The group had carried out a campaign primarily using word-of-mouth tactics via Twitter as well as various other forms of social media. The power of DAOs The campaign, which was mostly fuelled by Twitter and a rapidly growing Discord server, provides a glimpse into what a community-driven effort where transparency, honesty, and shared ownership are the main driving forces would be like as we continue to make technological progress. The prospects provided by the decentralized autonomous organization framework are hence actively piquing people's curiosity and interest.
Furthermore, as dramatic as it may appear, the joy of welcoming individuals into the cryptocurrency community is therefore an exhilarating by-product of ConstitutionDAO. It allows users and members to enjoy the perks as well as overall experience of a fully decentralized community.
However, although the influx of new users may indeed be beneficial, it also necessitates that someone must educate those who are new to the industry regarding certain matters such as where their hard-earned money may actually be going. As a matter of fact, the ConstitutionDAO team felt the need to adjust their initial message from potentially 'owning a very small part of the U.S Constitution' to 'users shall receive governance tokens'. This change had to be implemented relatively early on in order to ensure that the participants understood exactly how everything works and where their money will be allocated. Still, the success that the DAO had in gathering everyone together to achieve a common goal should not be understated.
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| The Gamified Stock Betting App That Rewards Effective Traders |
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The great thing about these competitions is that they are easy to join. Essentially, it comes down to picking 5 stocks or cryptocurrencies for your portfolio and watching them perform in a real-time dynamic chart. The entrant whose portfolio grows higher wins a predefined cash reward. It’s a simple concept that you’ll feel comfortable with using in seconds. However, you will need to analyze the market and rely on your intuition to create a winning portfolio.
Get Started with Free Contests to Learn the Basics Free contests are the best place to get started in StockBattle. Free contests don't require any upfront investment and still have the potential to payout on a win. They offer the safest means of learning how to use the platform and what kinds of strategies are most effective for you. Free contests can help you get comfortable with how assets fluctuate in price, what kinds of volatility are profitable, how to read price charts, and more. Once you can stand on your own two feet, you'll probably be itching to try your hand with some real money.
Play to the Match, Not the Market In StockBattle, you compete with your match, a person with the same passion for crypto, not the whole market. It means that victory is real and truly within your reach. To gain a victory, you need to pick the stock or crypto that you feel is most likely to perform well over the selected time, ignoring any potential for long-term profits. Look for something with a bit more volatility. Assets that rise and fall quickly are prime choices for StockBattle.
If you’ve been waiting for the right moment to test the waters of fantasy crypto trading, go ahead and get started today. Download StockBattle and start experimenting at no cost to you. Thanks to the wealth of information out there and the ease of fantasy finance there's never been a better time to jump into the world of trading. |
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| | Coming Soon
We're launching our rewards programme on 24th November. Trade or provide liquidity pools to earn! |
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| ANNOUNCEMENTS & FUNDING (SPONSORED) |
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| Layer 2 DEX, Diversifi to Launch New Rewards Program with Incentivized AMM |
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DeversiFi exchange is on a mission to make DeFi accessible to everyone, and ensure that the DeversiFi platform becomes a one-stop-shop for all DeFi needs. Earlier this year they soft-launched DVF token, through their very own launch mechanism (DeversiFi launch market), and have since grown that community. But that was just the beginning for Diversifi's growth plan, working hard to bring further value for users.
Coming Soon In two weeks Diversifi will launch its first rewards program, along with an inaugural series of incentivized automated market makers (AMMs). This twin initiative will allow you to earn by trading on DeversiFi, OR providing liquidity to one of the brand new incentivized pools, offering some of the best rewards on Layer 2. Trading rewards One of the best features about DeversiFi is the gas-free trading, but they are going one step further with a new rewards program. From December 1st, traders on the platform can earn some sweet DVF token, which will be calculated by the amount of fees they have paid each week as part of the overall ‘fees pot’. Simply trade on DeversiFi and earn DVF. It’s as easy as that!
50% of total DVF supply is controlled by the DVF DAO, with some of it initially allocated to liquidity mining and trading (at the DAOs discretion). There could be a vote after 3 months to continue the program or alter the parameters, so holding DVF will give you a voice in these decisions. Automated Market Makers (AMMs) Unlike the traditional order book method, which matches buy and sell offers, AMMs offer a liquidity pool where traders can simply buy and sell their tokens against the liquidity that’s present in this crowdsourced vault. In other words, you can make trades even if there is nobody on the other side.
The launch of DeversiFi’s AMMs will involve 16 new incentivized liquidity pairs. The initial incentivized launch pools were chosen by DeversiFi and the DVF Community in a governance vote, and contain a mixture of large blue-chip tokens as well as stablecoin pairs and NFT & DeFi tokens. The pairs areDVF/ETH, CRV/ETH, LDO/ETH, UNI/ETH, ERP/USDC, YGG/ETH, ILV/ETH, MPL/ETH, COMP/ETH, SUSHI/ETH, USDC/USDT, ETH/USDT, TOKE/ETH, REN/ETH, BOND/ETH, RAI/ETH.
By providing liquidity to the pools, users are entitled to a portion of the trading fees collected by that pool.
Empowering decentralized trading by rewarding usage, cutting fees, motivating platform investment, and decentralizing control. This is a formula for certain crypto success, and Diversifi seems to have it calculated well. These types of financial growth offerings will only increase in volume as crypto goes mainstream. More people every day become aware and gain access to crypto investment and savings options that traditional systems cannot compete with. Diversifi is developing their exchange and community with new-age users and platform growth fundamentals in their sights.
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This DAO Is Trying to Buy the Constitution for $20M
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| | Crypto Markets Pull Back 20% | It's Time To Pay Attention ⚠ |
| | If Balaji Had to Make One Bet in Crypto: BTC vs. ETH vs. Other? |
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| Bitcoin Only 50% Through Logarithmic Growth Curve |
| While many are calling for the bull market to hit a crescendo in December of this year, we feel the cycle may extend well into 2022. Bitcoin has only reached the center mark on the logarithmic growth curve. If Bitcoin is able to once again reach the top of the oscillator, it is likely that this will not happen until at least Q2 of next year. |
| Altcoin Dominance Growth Stagnates as Bitcoin Slides |
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| DCentral Miami - Nov 30th - Dec 1st |
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DCentral is where the world converges to celebrate art, fashion, and creatives together with the future of finance.
Over 2 floors and 89,000 square feet of conference space at Miami Airport Conference Centre (MACC). The Venue will have 3 dedicated stages running concurrently throughout the 2 days with Keynotes, Panels, Workshops, & Talks dedicated to Decentralized Finance & NFTs. |
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| We at CryptoWeekly are not Financial Advisors. None of the content or opinions expressed in this newsletter should be considered financial advice. We highly recommend that you do your own research before investing in any project within or outside the cryptocurrency space. |
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