MEXC Global Officially Lists Leader in Web 3․0 Gaming

MEXC Global Officially Lists Leader in Web 3․0 Gaming

PRESS RELEASE. Zug, Switzerland – 2nd May 2022. UniX Gaming is delighted to announce that they are now officially listed on MEXC, a top 20 exchange, following the announcement of their Final Round launchpad. This is the second CEX on which UniX has been listed, with several more planned for later this year.

UniX token holders will be able to deposit their tokens in the MEXC wallet, and trading will begin at 2 p.m. UTC on May 2nd. MEXC users will be able to deposit, withdraw, and trade UniX tokens, providing token holders with a highly liquid exchange.

“This is the second centralised exchange listing we’ve had this year, and we are so excited to announce more over the next several months. It has been a great year for us so far with our ‘Final Round’ launchpad in partnership with DAO Maker and SL2 Capital having just been announced. We are extremely grateful for our community’s support so far, and we’re excited to share more soon,” stated Mirko Basil Doelger, the co-founder and CEO of Unix Gaming.

MEXC is a well-known cryptocurrency exchange that is often regarded as a good starting point for beginner crypto investors. MEXC is one of the top 20 exchanges in the world, allowing the UniX token to be seen by millions of people, enhancing adoption and long-term value.

Sign up to MEXC here for a 10% discount on trading fees.

About MEXC Global

Established in April 2018, MEXC Global is a digital asset trading platform with more than 7 million users, which offers users one-stop services, including spot, margin, leveraged ETFs, derivatives trading and staking services. The core members of the team come from international enterprises and financial companies and have experience in blockchain and financial industries.

About UniX Gaming

As one of the early adopters in the P2E space, UniX launched in June 2021 with a different approach to gaming by combining the fun of gaming to help people in developing countries. Through their use of emerging play-to-earn models, UniX provides scholarships to players from less developed countries, as well as through their upcoming play-to-earn game. UniX’s scholarships have created the biggest gaming community, or guild, worldwide with more than 190,000 members since June 2021.

For more information, visit UniX Gaming: Website | Medium | Discord | Telegram | Twitter

Media Contact:

Dina Mattar

Founder & CEO




This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. Media is the premier source for everything crypto-related.
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A Dot Com Magnitude Crash To Rock The Crypto Market?

A Dot Com Magnitude Crash To Rock The Crypto Market?

The crypto market has been through a rollercoaster of a weekend. It follows on the back of bitcoin listing its footing above the $40,000 level last week, although the digital asset has done a good job holding above the $36,000 support level. However, it seems that the end of this bear trend may not be near given some recent chart action happening in the stock market. If this prediction comes to fruition, then the market may see more value shaved off its market cap soon.

A Dot Com-Like Crash?

Peter Brandt has recently posted a concerning chart that shows eerie similarities to the dot com crash of the early 2000s. Brandt is known for predicting the crypto market crash of 2018 and is a respected chartist in the space. Having proven to know his charts, his predictions have become quite popular among crypto investors.

Related Reading | TA: Bitcoin Consolidates Below $39k: What Could Trigger Another Decline

This is why Brandt posting a chart of the Nasdaq 100 that looks like that of the dot com chart right before the crash has worried investors. Basically, if this turns out to be like what happened in 2001, then the market may see a lot of stocks lose their value very quickly.

BTC recovers above $38,000 | Source: BTCUSD on

Now, it is important to note that the Nasdaq is trading at a significantly higher point than it did in the early 2000s. However, the recent market movements seem to closely mirror the movements recorded before the crash. Brandt has termed this deja vu with arrows pointing out the similar market patterns from both points in time.

How This Affects Crypto

As the crypto market has gotten bigger, the correlation with the stock market has risen drastically over the past few months. This has closely tied the movement of the stock market to that of the crypto market. What this means is that when the stock market goes up, so does the crypto market, and vice versa.

Therefore, a dot com magnitude crash in the stock market could have some dire implications for the crypto market. If stocks were to lose a significant portion of their value over a short period of time, the crypto market is likely to follow, leading to massive crashes across both large and small cryptocurrencies alike. 

Related Reading | Bitcoin Struggles To Hold $40K While Crypto Track US Stocks

This does not fall far from Brandt’s prediction for the leading digital asset in the crypto market. Bitcoin which continues to face opposition at the $40,000 mark may decline to as low as $28,000 according to Brandt. This would be the completion of a bear channel, he added.

Regardless of whether a dot com-like burst is imminent or not, indicators for the crypto market are currently not favorable. With the market down almost 50% from its all-time high, there may be more downtrend to come as investor sentiment continues to shift into the negative.

Featured image from CNBC, chart from

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Bitcoin Holders Trigger Largest Capitulation, Bearish Horizon For BTC?

Bitcoin Holders Trigger Largest Capitulation, Bearish Horizon For BTC?

Bitcoin follows a rangebound trajectory as the financial world trends to the downside. The first crypto by market cap is moving around critical areas of support as it was rejected from the low $40,000s.

Related Reading | TA: Bitcoin Consolidates Below $39k: What Could Trigger Another Decline

At the time of writing, BTC’s price trades at $38,500 with a 2% profit in the last 24 hours.

BTC moving sideways on the 4-hour chart. Source: BTCUSD Tradingview

The general sentiment in the crypto market trends downside with the price of larger cryptocurrencies. Market participants seem to be expecting Bitcoin to reach the low $20,000s or even lower at the mid area around $10,000.

A recent report from on-chain analytics firm Glassnode supports the bearish thesis but points to Bitcoin’s capacity to stay at its current levels. The macro-outlook is pessimistic. This has been reflected in traditional equities.

The S&P 500 and the Nasdaq 100 have been trending to the downside with many recording corrections as they failed to meet earnings expectations. Despite the trend, Bitcoin remains at $38,000 and in a range.

It is significant that Bitcoin has been able to hold. Especially, as it has been trading in tandem with big tech equities and as Glassnode records an increase in the number of Long-Term Holders selling their BTC.

The on-chain analytics firm claims that the cryptocurrency has experienced the largest capitulation from Long Term Holders in its history. These investors are usually the last to sell their coins in the market, but the macro-outlook seems to be contributing to this trend.

In addition, Glassnode records an increase in the number of BTC exchanging hands over the past months. This has changed lifted the threshold at which BTC investors record losses. Those levels are located between $33,000 and $42,000.

Therefore, it’s no coincidence that BTC’s price has been moving in that range. This is why those levels could operate as a major support zone in case of further downside. In past bear markets, BTC holders in profit were between 45% to 57% before the cryptocurrency saw a bottom.

This metric currently stands at around 70%. If history is to repeat itself, BTC’s price could drop to around $28,000 to $30,000 to reach a key “pain level”, according to Glassnode.

Source: Glassnode

Bitcoin Close To Undervalued Levels

On the other hand, Bitcoin short-term investors could push the price down to that pain level. These market participants record a cost basis of $46,900 per BTC. They are major losses and could panic sell their assets if the bearish trend extends.

Related Reading | Billionaire Ricardo Salinas Fires Back At Warren Buffett’s Bitcoin Slander

Glassnode concluded the following on BTC’s price potential for a re-test of lower levels, and when it could see a bottom:

The current market structure for Bitcoin remains in an extremely delicate equilibrium, with short-term price action and network profitability leaning bearish, whilst long-term trends remain constructive (…). Whether macro forces and correlations with traditional markets drag Bitcoin lower remains to be seen, however numerous fundamental indicators at or approaching noteworthy points of undervaluation.

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Wikipedia Stops Accepting Cryptocurrency Donations Citing Community’s Environmental Concerns – Featured Bitcoin News

Wikipedia Stops Accepting Cryptocurrency Donations Citing Community’s Environmental Concerns – Featured Bitcoin News

Wikipedia has decided to stop accepting cryptocurrency donations after eight years of doing so. The decision is based on the request by the Wikimedia community citing “issues of environmental sustainability” as a key reason.

Wikipedia Discontinues Accepting Bitcoin, Crypto Donations

Wikimedia Foundation has announced its decision to “discontinue direct acceptance of cryptocurrency as a means of donating.” The foundation began accepting bitcoin in July 2014.

“The Wikimedia Foundation is the nonprofit that hosts Wikipedia and our other free knowledge projects,” its website details. Wikipedia is a free online encyclopedia with over 200K volunteer contributors, according to the foundation.

The organization posted an update on its Wikipedia page on May 1, stating:

We began our direct acceptance of cryptocurrency in 2014 based on requests from our volunteers and donor communities. We are making this decision based on recent feedback from those same communities.

“Specifically, we will be closing our Bitpay account, which will remove our ability to directly accept cryptocurrency as a method of donating,” the update continues.

Molly White, a Wikipedia editor, explained Sunday that the decision came out of a three-month-long discussion which she started on Jan. 10. The discussion wrapped up on April 12. “400 users participated in total, though some were single-purpose accounts created just for the discussion (mostly to try to sway the RfC [Request for Comments] against making this request),” she noted.

The Wikimedia community’s request for comments page explains that common arguments in support of stopping accepting crypto donations include “issues of environmental sustainability, that accepting cryptocurrencies constitutes implicit endorsement of the issues surrounding cryptocurrencies, and community issues with the risk to the movement’s reputation for accepting cryptocurrencies.”

On the other hand, common arguments in opposition of stopping accepting crypto donations include ”the existence of less energy-intensive cryptocurrencies (proof-of-stake), that cryptocurrencies provide safer ways to donate and engage in finance for people in oppressive countries, and that fiat currencies also have issues with environmental sustainability.”

According to the results:

Excluding new accounts and unregistered users, the tally is 232 to 94, or 71.17% in support of the proposal … Thus, the Wikimedia community requests that the Wikimedia Foundation stop accepting cryptocurrency donations.

Tags in this story
Bitcoin, Crypto, Cryptocurrency, WikiMedia, Wikimedia Bitcoin donations, Wikimedia Foundation, Wikipedia, Wikipedia Bitcoin donations, wikipedia bitpay, Wikipedia crypto donations, Wikipedia cryptocurrency donation

What do you think about Wikipedia discontinuing accepting crypto donations? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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CRO Coin Falls 19% After Announces Rewards Cut Down To Cardholders

CRO Coin Falls 19% After Announces Rewards Cut Down To Cardholders

On Monday,’s Cronos (CRO) slide followed suit with a sharp drop after the crypto exchange said it was reducing some staking and rewards tied to its popular pre-paid Visa cards. 

According to, the coin dropped by 19% to $.265. On Sunday before the announcement, CRO was trading above $.33 per coin. 

Related Reading | TA: Bitcoin Consolidates Below $39k: What Could Trigger Another Decline announced the changes in a blog post:

To ensure long-term sustainability, we are introducing a number of changes to the CRO Card rewards programme, effective 1 June 2022 00:00 UTC.

CRO Card Rewards Cut Down

Next month, the company will reduce the usage rewards on four of the exchange’s card tiers.  The most premium tier, the Obsidian tier, will see a Cronos card reward reduction from 5% to 2%. In addition, the Icy White / Frosted Rose Gold tier reward will be pulled down from 3% to 1%.

The top tier of the company’s card program, Obsidian carries a $400,000 staking requirement and offers up to 8% cashback at retailers.

CRO price trading at $0.27 after company announcement of rewards cut down | Source: CRO/USD price chart from

According to company policy, there will be a limit on how much a person can earn CRO card rewards for two tiers. For example, the Ruby Steel Card earns are limited to $25 or equivalent in other fiat currencies like Dollars and Euros. While for the Royal Indigo/Jade Green tier, the cap is set at $50.

In Addition, is phasing out CRO staking rewards for cardholders. Cards include Jade Green, Royal Indigo, Frosted Rose Gold, Icy White, and Obsidian. Staking rewards involves coin owners “locking up” or delegating a portion of their crypto holdings to earn more interest on deposits.

While explaining staking rewards, the exchange said;

Cardholders with an active 6-month stake and who staked before 1 May 2022 13:00 UTC will continue to earn CRO Card rewards on spending at the current rate until their 180-day stake expires. Thereafter, the revised rates will apply. Cardholders who stake CRO after their 180-day lock expires will earn card spending rewards as per the schedule.

Cronos Price Performance

Since the start of January 2022, Cronos has been trading lower. The price of CRO was over $0.50 at the beginning of the year, but it has been retreating since then. At one point, CRO was close to sliding below $0.30. Cronos’ price skyrocketed during the NFL Super Bowl. But after that, there hasn’t been any sign of a recovery as the price of CRONOS crashed continuously.

Related Reading | Analysts Predict ApeCoin To Hit $50 By End Of 2025 – And $100 By 2030

In the last 24 hours, CRO started the day in green, but after the company announcement price crashed below $0.30. Since then, the coin has lost 19% of its value and reached $0.26 lowest level. 

                         Featured image from Flickr, chart from Tradingview

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Sequoia Capital Partner Believes Lots of VCs Will Pull Back From Crypto – Bitcoin News

Sequoia Capital Partner Believes Lots of VCs Will Pull Back From Crypto – Bitcoin News

Shaun Maguire, a crypto partner of Sequoia Capital, one of the venture capital firms most active when it comes to investments in the cryptocurrency space, issued its opinion on the future of many VCs investing in crypto. To him, many of the companies that are now experimenting with crypto investments will “pull back” due to market conditions and a misunderstanding of crypto as an investment.

Sequoia Partner Not Optimistic About VCs Entering Crypto

Shaun Maguire, a cryptocurrency partner in Sequoia Capital, one of the most active VC firms in the crypto sector, is not very optimistic about the future of other venture capital companies in the area. Maguire, who specializes in companies in the tech and crypto sectors that are either in seed or early investing stages, stated in a recent podcast that other firms that are now entering the crypto space are going to “pull back” on these investments when the markets get less frothy.

However, he stated that Sequoia will not fall in this category due to the way in which these investments are made in the firm. According to Maguire, the company has “permanent intentions” when it comes to its investments in the sector. Maguire explained:

Sequoia is very deliberate with everything we do and we spend huge amounts of time debating every strategy change, everything, we debate every seed investment to sometimes excruciating detail, but it helps us make really good decisions and make decisions as a team rather than as individuals.

The firm, which has already invested in several companies in the sector like Polygon, launched a $500- $600 million fund in February to invest in “liquid” crypto assets as a complement to its other investments to “participate more actively in protocols” and “better support token-only projects.”

Misunderstanding Crypto

This abandonment of crypto investments will also be caused by other elements. According to Maguire, there is a fundamental misunderstanding of what crypto and Web3 might offer as new technologies, with some investors touting decentralization as a ”silver bullet.” Maguire declared:

Decentralization is not a silver bullet that just solves all problems and is better for everything. You know for the vast majority of compute, you want it to be centralized.

The influx that blockchain-based companies have gotten from venture capital funds has been massive, being fueled by the interest that the market has developed by NFTs, Web3, and metaverse as trends this year. Just in Q1, $30 billion were invested in fintech and crypto startups by VC companies.

What do you think about Sean Maguire’s take on the future of some VC investments in crypto? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Improving Transaction Privacy on the Bitcoin Blockchain | by Coinbase | May, 2022

Improving Transaction Privacy on the Bitcoin Blockchain | by Coinbase | May, 2022

Tl;dr: This report updates on what Josie, a Bitcoin CoreDev, and Coinbase Crypto Community Fund grant recipient, has been working on over the first part of their year-long Crypto development grant. This specifically covers their work on bitcoin transaction privacy.

Since late last year, I have been working with a group of researchers on a project centered around Bitcoin transactions with two or fewer outputs. While the research is still on-going, we identified an opportunity for improvement with respect to Bitcoin transaction privacy. This post details the motivation for the change and work completed thus far.

Privacy in Bitcoin transactions

When thinking about privacy in Bitcoin, I find the following definition helpful:

“Privacy is the power to selectively reveal oneself to the world” — Eric Hughes (1993)

This definition motivates the following statement, “Software should never reveal more information than necessary about a user’s activity.” Applied to Bitcoin transactions, this means we should attempt to keep the payment address and amount private between the payer and payee. One way to break this privacy today is through the “Payment to a different script type” heuristic.

In short, this heuristic works by inferring which of the outputs in a transaction is the change output by examining script types. If a transaction is funded with bech32 (native segwit) inputs and has two outputs, one P2SH and the other bech32, it is reasonable to infer the bech32 output is a change address generated by the payee’s wallet. This allows an outside observer to infer the payment value and change value with reasonable accuracy.

How big of a problem is this?

But how often does this happen? Is this worth improving at all or is it a rare edge case? Let’s look at some data!

Payments to different script types over time

In analyzing transactions from 2010 — present, we found this type of transaction first appearing after the 2012 activation of P2SH addresses, and growing significantly after the 2017 segwit activation. From 2018 onward, these types of transactions account for ~30% of all transactions on the Bitcoin blockchain. This is expected to continue to increase over time as we see increased taproot adoption, which introduces the new bech32m address encoding. This means that we have an opportunity to improve privacy for up to 30% of all Bitcoin transactions today if every wallet had a solution for this.

How can we improve this?

The first step to solve this problem is to match the payment address type when generating a change output. From our earlier example, this means our wallet should instead generate a P2SH address so that the transaction is now bech32 inputs to two P2SH outputs, effectively hiding which of the outputs is the payment and which is the change.

This was logic was merged into Bitcoin core in #23789 — meaning that our wallet will now have a mix of output types depending on our payment patterns. What happens when we spend these UTXOs? Is our privacy from the original transaction still preserved?

Mixing output types when funding a transaction

As it turns out, we might still leak information about our first transaction (txid: a) when spending the change output in a subsequent transaction. Consider the following scenario:

mixing input types in subsequent transactions

  • Alice has a wallet with bech32 type UTXOs and pays Bob, who gives them a P2SH address
  • Alice’s wallet generates a P2SH change output, preserving their privacy in txid: a
  • Alice then pays Carol, who gives them a bech32 address
  • Alice’s wallet combines the P2SH UTXO with a bech32 UTXO and txid: b has two bech32 outputs

From an outsider observer’s perspective, it is reasonable to infer that the P2SH Output in txid: b was the change from txid: a. To avoid leaking information about txid: a, Alice’s wallet should avoid mixing the P2SH output with other output types and either fund the transaction with only P2SH outputs or with only bech32 outputs. As a bonus, if txid: b can be funded with the P2SH output, the change from txid: b will be bech32, effectively cleaning the P2SH output out of the wallet by converting it to a payment and bech32 change.

Avoid mixing different output types during coin selection

I have been implementing this logic in Github with ongoing work and review..

If this topic is interesting to you, or if you are looking for ways to get involved with Bitcoin Core development, you can participate in the upcoming Bitcoin PR Review Club for #24584 (or read the logs from the meeting).

Ongoing work

If this logic is merged into Bitcoin Core, my hope is that other wallets will also implement both change address matching and avoid mixing output types during coin selection, improving privacy for all Bitcoin users.

This work has inspired a number of ideas for improving privacy in the Bitcoin Core wallet, as well as improving how we test and evaluate changes to coin selection. Many thanks to Coinbase for supporting my work — I hope to find other opportunities for improvement motivated by analysis as our research continues.

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Bitcoin Price Continues Struggle, But Miners Refuse To Sell

Bitcoin Price Continues Struggle, But Miners Refuse To Sell

On-chain data shows while the price of Bitcoin has continued to struggle recently, miners have shown diamond hands.

Bitcoin Miner Reserve Holds Still Amid The Recent Price Consolidation

As pointed out by an analyst in a CrypoQuant post, BTC miners have been accumulating for some time now, and the dwindling price hasn’t scared them.

The “Bitcoin miner reserve” is an indicator that measures the total amount of coins present in wallets of all miners.

When the value of this indicator observes a decrease, it means the supply held by miners is going down. Such a trend may be a sign that miners are dumping right now as they usually withdraw coins from their reserve for selling them on an exchange. And therefore, this can be bearish for the price of the coin.

On the other hand, an uptrend in the indicator, when prolonged, can prove to be bullish for the value of Bitcoin as it may show miners are accumulating at the moment.

Related Reading | Quant Explains Similarities Between Current And Summer 2020 Bitcoin Markets

Now, here is a chart that shows the trend in the Bitcoin miner reserve over the past couple of years:

Looks like the value of the metric has been trending sideways in recent months | Source: CryptoQuant

As you can see in the above graph, the Bitcoin miner reserve was at a very high value before the start of the 2021 bull run, but as soon as it kicked off a lot of miners harvested profits.

Following the crash in May of the same year, miners held on for a while, but it wasn’t too long until they the metric saw a plunge as they dumped.

Related Reading | Bitcoin Perfectly Follows Market Cycle Comparison, What Comes Next For Crypto?

Active miners have running costs like electricity so in times of low profitability, they have to sell their coins to pay off these bills.

These holders started accumulating again in July as a new rally kicked off. This time, however, they didn’t sell off when the ATH was hit and a crash occurred.

Though, miners have also not been adding further to their Bitcoin reserves in recent months either. But nonetheless, they have held strong through the seemingly endless sideways movement the price of the crypto has shown lately.

BTC Price

At the time of writing, Bitcoin’s price floats around $38.4k, down 1% in the past week. Over the last month, the crypto has lost 17% in value.

The below chart shows the trend in the price of the coin over the last five days.

Bitcoin Price Chart

The value of the crypto seems to have slid down over the last few days | Source: BTCUSD on TradingView
Featured image from, charts from,

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Why Terra’s Anchor Protocol Changed Earn Rate To 18% APY

Why Terra’s Anchor Protocol Changed Earn Rate To 18% APY

Anchor Protocol, one of the most popular platforms in the Terra ecosystem, rolled out a change in its Earn Rate. The latter will begin to operate in a semi-dynamic fashion rather than the previously fixed 20% annual percentage yield (APY).

Related Reading | Terra Price Continues Moving North; How Soon Will It Cross $100? 

With a massive shift in the protocol’s reward mechanism, the new models aim at making Anchor “more sustainable”. As a result, users started earning an 18% APY as of yesterday, May 1. The earn rate will be modified each month for the foreseeable future.

The team behind this Terra project said the following via their official Twitter account:

The Anchor Earn rate adjusts dynamically by up to 1.5% each month based on if the yield reserve appreciated or depreciated. The floor is 15% APY & the ceiling is 20% APY.

The changes in Anchor’s earn rate are triggered by the protocol’s yield reserve. A .25% modification in this element will be followed by an adjustment in the Earn Rate.

This shift in the Terra protocol was approved, via Proposition 20, on March 24 this year. At the time, Anchor Protocol said:

The addition of a semi-dynamic Earn rate will contribute to the long-term sustainability of Anchor & will benefit users of the protocol by enabling yield reserve growth while continuing to provide an attractive yield on UST.

As seen below, the total borrowed versus total deposits on Anchor shows significant divergence. This is why the yield reserves on the protocol trend to the downside, especially in times of bearish price action on larger cryptocurrencies.

Source: Anchor Protocol

Some of the users believe that this trend could trigger a deppeging event for UST which could jeopardize the entire Terra ecosystem. The introduction of a semi-dynamic rate is the first step to avoiding this possibility.

Terra Is Not The Most Attractive Venue For Stablecoin Yield?

Some users believe that the new earn rate might not be enough and have been suggesting the implementation of investment strategies that can contribute to the yield reserves. Another part of the community seems focused on increasing the borrowing rate at Anchor.

However, as the chart above shows, deposits on the Terra protocol have been trending to the upside at a fast pace. In the meantime, the number of borrows has been moving sideways with a slight uptick in recent months.

Over the same period, other network launched their own stablecoins with alternatives to Anchor. NEAR and TRON stand out because of the hype and the APY that they are offering to their users.

TRON seems to have the largest incentives as it provides depositors with a 30% APY. Like Terra users with Anchor, many wonder if those rewards will be sustainable.

Related Reading | Terra Users Heads Up, Why NEAR May Launch Native Stablecoin With A 20% APR

At the time of writing, Terra (LUNA) trades at $83 with a 6% profit in 24-hours.

LUNA is on an upward trend on the daily chart. Source: LUNAUSDT Tradingview

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Rarestone Capital’s Jared Polites on the State of Blockchain Marketing in 2022

Rarestone Capital’s Jared Polites on the State of Blockchain Marketing in 2022

Jared Polites is a partner at Rarestone Capital, an active Web3 fund with a marketing arm (Rarestone Labs). Since 2020, Rarestone has been at the forefront of investing in and marketing DeFi protocols, NFT drops, and Web3 infrastructure plays. As the industry is ever-changing, we wanted to catch up with Jared to see what has changed since the last cycle and how projects can best position themselves for success when thinking about marketing.

What are some tips you can offer to projects building out a marketing plan?

Polites: Similar to traditional tech user acquisition, projects need to build an effective communications strategy that discusses what value they are providing and how it directly impacts their users and communities. First, the key is to be consistent. Going “stealth” is a wild card strategy that can be used early on to gain momentum, but should not be the focus as a roadmap progresses. Over-communicate vs. under-communicate is my advice. Especially since attention spans are decreasing and community members will take their interest elsewhere if they don’t know exactly what is happening and when.

Second, make sure to have at least one marketer on your team. It sounds simple, but we find numerous dev-heavy teams that neglect marketing until the very last minute. In these situations, it is completely fine to outsource to agencies, but you need to have a point of contact internally to help coordinate and review each activity. Even someone junior is fine. A common misconception is that a good enough product will market itself, but the industry is becoming more crowded and moves at warp speed – you have to stand out from the crowd.

What has changed since 2017 in how projects should market themselves?

Polites: Communities, users, and even speculators are more sophisticated and to an extent, unforgiving. Short-term focused tactics that were often seen in the last cycle are now quickly exposed if detrimental to a project. For example, there is a recent trend that is questioning the long-term impact of staking. Often seen as a necessary early-stage strategy that helps reward engaged long-term users (and makes for a strong community announcement), industry players are now questioning the sustainability of staking. Is staking just a ploy to maintain a positive price trajectory and reduce sell pressure, or is it really about the community?

These are the questions and dilemmas that projects need to question when building a well-rounded marketing strategy.

What are some common pitfalls you see with how companies market themselves?

Polites: Many are not long-term focused. Make sure your marketing strategy aligns with your long-term vision and roadmap. For example, I see founders get caught up with flashy marketing campaigns that are detrimental to a project’s long-term token health. With generous emissions, interest spikes early on and then wanes as community members move on to the next shiny object. During this process, you need to evaluate what risk a marketing campaign must hold and why. Without this knowledge, all it would take is one bad market downturn to eliminate all momentum and possibly create a situation that is impossible to recover from.


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