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Crypto Daily Digest - January 7th

TI Research
Crypto Daily Digest - January 7th https://newsletter.banklesshq.com/p/guide-to-gmi

Index Coop and BanklessDAO collaborate to launch a new index product, the Bankless DeFi Innovation Index (GMI). FoxDAO will airdrop $FOX to all MetaMask users. DeFi Protocol TempleDAO has begun investing its $160M treasury into the FRAX3CRV pool on Convex Finance. FTX|Polkadot|Avalaunch

Table of Contents
  1. DeFi
  2. NFT
  3. Fundings

DeFi

FoxDAO will Airdrop $FOX to MetaMask Users

FoxDAO will airdrop $FOX to all MetaMask users. Users who have used the MetaMask Swap feature in the Ethereum, BSC and Matic networks will receive tokens based on the number of transactions weighted. FoxDAO is a decentralized autonomous organization whose vision is to connect all those who have hope for the future of Web3 and to reward users over time through the organization. Source

Index Coop Collaborates with BanklessDAO to Launch Index Product GMI

Index Coop has partnered with BanklessDAO to launch a new index product, the Bankless DeFi Innovation Index (GMI). Unlike the DPI, which focuses on "blue chips", the GMI is an index composed of DeFi 2.0 Project tokens. Its composition is: TRIBE (11.5%), FLX (5.7%), ALCX (7.3%), TOKE (9.5%), RBN (12.3%), MPL (4.5%), DPX (3.7%), DYDX (7.3%), SPELL (9.5%), gOHM (12.8%), PERP (12.8%), and CVX (9.8%). Currently, users can provide Uniswap V3 liquidity for GMI/ETH pairs and will receive a bonus fee of 50% of the index for 60 days. However, LPs are required to provide the full 60 days of liquidity. The bonus program will cut off at 18:00 UTC on January 9. Source

Reserve Currency Protocol Maximizer Announces Partnership with Avalaunch

Maximizer, a reserve currency protocol, announced a partnership with the Avalaunch that will play a key role in helping startups benefit from POL (Protocol Owned Liquidity) as early as possible with respect to programs launched on Avalaunch, using its bond offering and unsold automatic compounding vault. It is said that Maximizer will provide stability in the form of POL, which will not be exchanged for distributions in the project's IDO, and there are several different ways IDOs can benefit from this launch program. Maximizer is a decentralized reserve currency protocol based on $MAXI tokens, which are all backed by Avalanche assets in the treasury, giving them an intrinsic value that cannot be underestimated. Source

Polkadot Opened 7th Parallel Chain Slot Auction

Polkadot's 7th parallel chain auction opened at 2:46 a.m. on January 7, 2022. It is reported that among all the active crowdloan projects, Composable Finance currently collects the most $DOT, followed by Centrifuge, Interlay, Nodle and Litentry. The 7th auction is expected to end on the evening of January 13. Source

FTX to Sponsor Former NBA Star O'Neal's Music Bash

FTX will sponsor former NBA star O'Neal's weekend music bash Shaq's Fun House during the Super Bowl on Feb. 11 this year, and the NBA legend is said to be hosting the event in Los Angeles, which will include a cabaret show, FTX Ferris wheel facilities and an exhibition of FTX crypto products, with several well-known music artists and sports stars in attendance. In addition, FTX will offer discounts to those who pay with FTXPay, and event attendees will have the opportunity to meet directly with O'Neal and receive $10,000 worth of Bitcoin, a digital asset derivatives trading platform where users can securely trade Bitcoin, Ethereum and other cryptocurrencies. Source

TempleDAO Invests $160 Million in Convex Finance in Tranches

TempleDAO, a DeFi protocol, issued a release announcing that it has activated $160 million in funding that will be injected in tranches into the FRAX3CRV pool on Convex Finance. TempleDAO has now completed the first injection of $30 million worth of $FRAX. It is reported that the pool currently has an APR of about 20%, and users can pledge CRV to get APR gains or increase returns in the form of lock-in positions (by locking in $CVX and licensing it to Votium). In addition, officials have stated that they will leverage the funds to generate revenue and continue to build strong partnerships with reputable teams or agreements. TempleDAO is a DeFi protocol with the goal of creating an ecosystem in a cryptocurrency market with high price volatility that allows users to participate with relatively low risk and high reward. Source

NFT

CryptoPunk #2681 Sold for 900 ETH, the Highest Price in a Series of 7 Days

CryptoPunk #2681 sold for 900 ETH (about $18 million) to moonpay.eth, the highest price in a 7-day series of CryptoPunks, collectible digital artworks, with 10,000 8-bit pixelated punk characters, each with a peculiar appearance. Source

Fundings

Goldfinch Closed $25 Million Series A Expansion Financing led by a16z

Decentralized lending agreement Goldfinch has closed $25 million in Series A extension round led by a16z, with BlockTower, Kingsway Capital and individual investor Bill Ackman participating. It is reported that the outstanding loan amount of Goldfinch has increased from $250k a year ago to $38 million. The agreement provides services to more than 200k borrowers in 18 countries. Goldfinch is an open loan market without collateral and uses a decentralized loan underwriting process. Source

CryptoSlam Closed $9 Million in Financing Led by Animoca Brands

CryptoSlam, NFT Data Aggregator, closed a financing of $9 million, led by Animoca Brands, and participated by Sound Ventures, Binance Smart Chain and individual investor Mark Cuban. The funds raised will be used for new recruitment plans, support for existing platform expansion and new product launch, including enterprise NFT data APIs that allow developers to build on the platform. Source

IndexDeFi
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