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Paymagic LabsPRD: DustSweeper (🧹,🧹)
SummaryDustSweeper (🧹,🧹) allows users to swap small balance tokens (”dust”) for ETH without expensive gas transactions. Users just have to approve() the tokens they’d like to sell, and “market taker” bots execute the swap.ETHDenver Finals Demo: View on YoutubeFollow on Twitter: @DustSweeperDAOProblemMany Ethereum mainnet users have low-balance tokens (<$500) in their wallets from old trades, airdrops, and trying out apps back when gas was cheap. They’d like to sell these tokens for ETH to c...
Paymagic LabsIntroducing Patch Wallet
Patch Wallets aren't your typical wallet; you don't download an app or install an extension… Every twitter user, email, phone number…any human...or bot 🤖...has a wallet automatically that only they can access. No onboarding or custodian required. You can view your wallet today at app.patchwallet.com and claim your Patch NFT. You’ll want to be early frens… 😉1 Billion web3 wallets 🌎Our mission is to onboard 1 Billion users into Web3. To do that, we’re taking a radically different a...
Paymagic LabsIntroducing DustSweeper v2
🥳 🧹 🥳 🧹 🥳 🧹We’re proud to announce DustSweeper v2 is ready for its mainnet launch! The new version includes massively expanding token support (from 80 to >5k tokens), major gas optimizations, dynamic pricing, token system preparations, and other features that make Dustsweeper awesome and seamless for our users! Head on over to dustsweeper.xyz to start cleaning out your old wallets! 🧹Where we startedDustSweeper allows users to swap small balance tokens (”dust”) for ETH without expensive...
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We were off last week because I was admittedly tapped out after an awesome week at NFT.NYC. But we’re back! I’m intentionally not covering Aave V3 on this week’s update since it requires a longer write-up. Thanks for reading and if you have feedback or a request, we’d love to chat at @0xViabull.
📈 Top 3 Stories from the past week
ENS Airdrop | 🔼 45
Ribbon Treasury for DAOs | 🔼 35
https://ens.mirror.xyz/5cGl-Y37aTxtokdWk21qlULmE1aSM_NuX9fstbOPoWU
Crypto is the financial and property layer of the internet. Property means owning internet media like images (JPEGs!), audio, video, gifs, memes, episodes, web pages, blog posts, social posts, domains, and increasingly virtual land, items, characters, and skins in the Metaverse. Before crypto, all this property could be duplicated infinitely with “right click and save”. But crypto allows true digital property rights, backed up by math, not a government, and that will be the most powerful force on the Internet over the next 20 years. Yes, “right click and save” still exists, but with Twitter, Reddit, and other services enforcing these digital property rights, duplication/plagiarism will fade away with time.
Domains (like mirror.xyz) we the original Internet property. They are a pointer to a particular computer connected to the internet, most likely serving up a web page you are reading. They can’t be “right click and save”-ed but have a whole host of other issues. Enter ENS, which bring cryptographically secure property ownership to domains and is one of the OG projects to come out of the Ethereum Foundation. They were doing NFTs waaayyy before they were cool. ENS has been around for a while and it’s most used as a more human-readable way to send tokens to a particular Ethereum address…although can be used for much more. It’s become a service for decentralized identity, NFT registration and trading, and a universal utility service for the crypto space. So I’m happy they’ve undergone progressive decentralization and will be governed by a DAO of $ENS token holders going forward. They’re a great example of a humble service with real utility transitioning to community ownership and governance. Claim your airdrop and delegate if you haven’t already and congrats to the team on a successful DAO launch! 🚀
Ribbon Treasury Introduction Covered Calls are one of the most popular yield strategies in tradfi - they allow people to generate income on their assets by selling upside volatility. The income ...
When people think of DeFi, they think of speculating on new tokens or yield farming APY on new, crazy food protocols. 🤑 But those were just the initial use cases; DeFi will be the financial system for the internet. DAOs will be the native organizations of the internet and can be described as any group of people online with a shared wallet and economy. Well DAO wallets need financial services, just like any other organization on the planet, and they get those services through DeFi.
Ribbon Finance is one of the most promising DeFi projects in the derivatives/structure product space. In the next few years, more of the TradFi structured product market will move to public, smart contract blockchains because settlement time (t+0) and “code as law” features make these markets 10x more efficient than the legacy marketplaces. Traditional hedge funds have massive back offices to deal with these inefficiencies of the legacy markets, and those will largely be replaced with DeFi infrastructure.
Ribbon’s new Treasury offering is a structured product for DAOs, so they can earn stablecoin income on the large protocol treasuries they’ve amassed. This allows the DAO to get some liquidity and paying for services without selling protocol tokens and impacting the market. The big trends here are 1) DAOs are becoming the “first best customer” for many DeFi projects and 2) structured products have massive growth potential on their impact. And Ribbon has been leading the way on both. 🎀
We were off last week because I was admittedly tapped out after an awesome week at NFT.NYC. But we’re back! I’m intentionally not covering Aave V3 on this week’s update since it requires a longer write-up. Thanks for reading and if you have feedback or a request, we’d love to chat at @0xViabull.
📈 Top 3 Stories from the past week
ENS Airdrop | 🔼 45
Ribbon Treasury for DAOs | 🔼 35
https://ens.mirror.xyz/5cGl-Y37aTxtokdWk21qlULmE1aSM_NuX9fstbOPoWU
Crypto is the financial and property layer of the internet. Property means owning internet media like images (JPEGs!), audio, video, gifs, memes, episodes, web pages, blog posts, social posts, domains, and increasingly virtual land, items, characters, and skins in the Metaverse. Before crypto, all this property could be duplicated infinitely with “right click and save”. But crypto allows true digital property rights, backed up by math, not a government, and that will be the most powerful force on the Internet over the next 20 years. Yes, “right click and save” still exists, but with Twitter, Reddit, and other services enforcing these digital property rights, duplication/plagiarism will fade away with time.
Domains (like mirror.xyz) we the original Internet property. They are a pointer to a particular computer connected to the internet, most likely serving up a web page you are reading. They can’t be “right click and save”-ed but have a whole host of other issues. Enter ENS, which bring cryptographically secure property ownership to domains and is one of the OG projects to come out of the Ethereum Foundation. They were doing NFTs waaayyy before they were cool. ENS has been around for a while and it’s most used as a more human-readable way to send tokens to a particular Ethereum address…although can be used for much more. It’s become a service for decentralized identity, NFT registration and trading, and a universal utility service for the crypto space. So I’m happy they’ve undergone progressive decentralization and will be governed by a DAO of $ENS token holders going forward. They’re a great example of a humble service with real utility transitioning to community ownership and governance. Claim your airdrop and delegate if you haven’t already and congrats to the team on a successful DAO launch! 🚀
Ribbon Treasury Introduction Covered Calls are one of the most popular yield strategies in tradfi - they allow people to generate income on their assets by selling upside volatility. The income ...
When people think of DeFi, they think of speculating on new tokens or yield farming APY on new, crazy food protocols. 🤑 But those were just the initial use cases; DeFi will be the financial system for the internet. DAOs will be the native organizations of the internet and can be described as any group of people online with a shared wallet and economy. Well DAO wallets need financial services, just like any other organization on the planet, and they get those services through DeFi.
Ribbon Finance is one of the most promising DeFi projects in the derivatives/structure product space. In the next few years, more of the TradFi structured product market will move to public, smart contract blockchains because settlement time (t+0) and “code as law” features make these markets 10x more efficient than the legacy marketplaces. Traditional hedge funds have massive back offices to deal with these inefficiencies of the legacy markets, and those will largely be replaced with DeFi infrastructure.
Ribbon’s new Treasury offering is a structured product for DAOs, so they can earn stablecoin income on the large protocol treasuries they’ve amassed. This allows the DAO to get some liquidity and paying for services without selling protocol tokens and impacting the market. The big trends here are 1) DAOs are becoming the “first best customer” for many DeFi projects and 2) structured products have massive growth potential on their impact. And Ribbon has been leading the way on both. 🎀
Paymagic LabsPRD: DustSweeper (🧹,🧹)
SummaryDustSweeper (🧹,🧹) allows users to swap small balance tokens (”dust”) for ETH without expensive gas transactions. Users just have to approve() the tokens they’d like to sell, and “market taker” bots execute the swap.ETHDenver Finals Demo: View on YoutubeFollow on Twitter: @DustSweeperDAOProblemMany Ethereum mainnet users have low-balance tokens (<$500) in their wallets from old trades, airdrops, and trying out apps back when gas was cheap. They’d like to sell these tokens for ETH to c...
Paymagic LabsIntroducing Patch Wallet
Patch Wallets aren't your typical wallet; you don't download an app or install an extension… Every twitter user, email, phone number…any human...or bot 🤖...has a wallet automatically that only they can access. No onboarding or custodian required. You can view your wallet today at app.patchwallet.com and claim your Patch NFT. You’ll want to be early frens… 😉1 Billion web3 wallets 🌎Our mission is to onboard 1 Billion users into Web3. To do that, we’re taking a radically different a...
Paymagic LabsIntroducing DustSweeper v2
🥳 🧹 🥳 🧹 🥳 🧹We’re proud to announce DustSweeper v2 is ready for its mainnet launch! The new version includes massively expanding token support (from 80 to >5k tokens), major gas optimizations, dynamic pricing, token system preparations, and other features that make Dustsweeper awesome and seamless for our users! Head on over to dustsweeper.xyz to start cleaning out your old wallets! 🧹Where we startedDustSweeper allows users to swap small balance tokens (”dust”) for ETH without expensive...
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