March 16, 2022       /       Unchained Daily       /       Laura Shin

Join My Private Discord By Purchasing an NFT!

I recently launched a private Discord group for my Bulletin subscribers, which gives members access to exclusive content from guests, the ability to interact directly with me, and pitch guests/topics for Unchained!

However, a lot of readers wanted to join the Discord without having to sign up for a Facebook account (#web2), which led me to the grand idea of launching a collection of NFTs that will grant holders access to the private Discord!

Today is the soft launch of the Unchained Private Discord NFT collection, and I am releasing 10 of the 100 planned NFTs today via Unchained Daily!

Here’s how to buy the NFT and join the private Discord:

1. Buy an NFT! Here’s the link. Each NFT is available on OpenSea for .02 ETH (~$50) on Polygon and will give you access to the Discord, as well as the premium content, for one year.

2. Join the public Discord! Here’s the link. As a general member, you will have access to just the welcome page, along with a general chat. To access the private channels, you need to…

3. Authenticate your NFT via CollabLand. Here’s a link on how to do this.

If you have any questions, concerns, or issues with your NFTs, please reach out to hello@unchainedpodcast.com.

Daily Bits ✍️✍️✍️

• Hundred Finance and Agave were exploited on Gnosis Chain yesterday for $11 million.

• Matcha, a DEX aggregator, is geoblocking all trades from Russia.

• A Nansen report says that Ethereum NFT sales are inverselyrelated to the crypto market.

• Cross-chain infrastructure protocol LayerZero plans to launch Stargate, a protocol for swapping tokens across different blockchains, on March 17.

• a16z hired Michele Korver away from FinCEN.

• MetaMask will soon be establishing a DAO and intends to complete a token launch.

• Deus Finance DAO lost $3 million in a flash loan attack.

• Aptos, the team working to resurrect Diem, says Coinbase and Binance, among others, are already contributing code to its devnet.

• FTX and Binance received regulatory approval to operate in Dubai and Bahrain.

• Crypto.com is rolling out its initial US launch.

Today in Crypto Adoption…

• Meta CEO Mark Zuckerberg confirmed Instagram is preparing to support NFTs.

• McLaren is building a marketplace to sell NFTs of its luxury supercars.

• American Express recently filed metaverse-related trademark applications.

The $$$ Corner…

• ConsenSys raised $450 million at a $7 billion valuation.

• Zebec, a Solana payroll protocol, raised $28 million in a token sale.

• Luna Foundation Guard voted to raise another $372 million by burning LUNA in order to mint UST – which will most likely be used to purchase bitcoin.

• Bored Ape Yacht Club creator Yuga Labs is projecting net revenue of $455 million this year, touting plans for metaverse land sales and a token.

What Do You Meme?

What’s Poppin’?

RUNE Is Pumping, Here’s Why.

RUNE, the native token of THORChain, has, as of press time, increased 85% over the past seven days, making it the best-performing of the top 100 crypto assets, all of which have a market capitalization of over $750 million (as of 6 pm ET Tuesday afternoon).

THORChain is a Cosmos-based blockchain that facilitates cross-chain token swaps.

RUNE’s positive price action follows the launch of THORChain Synths.

Synthetic assets are a popular tool in crypto, allowing users to mint tokens of other digital assets based on the amount of collateral they put up. To give an overly simplified example, if an Ethereum user wanted exposure to Bitcoin, they could go to a staking protocol, stake $20 of ETH to the staking protocol, and receive $20 of sBTC (synthetic BTC).

THORChain Synths are a bit more complicated, but the idea is the same: THORChain Synthetics are derivatives of crypto assets that always keep the same price as the selected coin. To do so, all synthetic assets will be backed by THORChain Liquidity Pools, which are made up of 50% of the underlying asset and 50% in RUNE. This leads to a few advantages, as described by THORSwap Finance in a recent blog post:

“Synths have great utility for traders and arbitrageurs, as they can be transacted nearly instantly and at a fraction of the cost compared to native L1 swaps… due to the fact that synths solely live on the highly-scalable THORChain network (so no need to worry about different chains, gas prices, wallets).”

In addition to high-speed, low-cost trading, users can now have access to non-THORChain native assets without having to bridge, wrap, or use atomic swaps to transfer the asset across chains. Data from ThorSwap shows over 20 tokens are now available as synthetics on THORChain, including BTC, ETH, DOGE, USDC, USDT, and AAVE, among others. Synthetic BTC and ETH account for the vast majority of the volume.

The advent of THORChain Synths has led to an 82% increase in total value locked on the network in the past week, making it a top 20 blockchain by TVL, according to data from DeFi Llama.

In addition to synths, THORChain is also building hypesurrounding a network upgrade they are calling “THORFi,” though details are scarce as to what the upgrade will actually do. An upcoming integration with Terra, which will see UST and LUNA available on THORChain, is also in the works.

That being said, THORChain has had issues in the past. For example, the protocol paused operations for multiple weeks after a series of exploits in the summer of 2021 led to millions of dollars in losses.

Recommended Reads

1. Omid Malekan on owning BTC:

2. Gabriel Shapiro on DAOs:

3. Mario Gibney on how a Russian friend is using BTC:

On The Pod…

What Is It Like to Only Work for DAOs? Chase Chapman Tells All

Jack of all metaverse-trades Chase Chapman discusses her experience working for DAOs, how DAO tooling and governance can improve, and drops a hot take about Discord. Chase brings a unique perspective to Unchained as a co-founder and advisor at Decentology, host of On the Other Side podcast, and active DAO contributor at Orca, Index Coop, and Rabbit Hole. Show topics:

• how Chase got into crypto

• new avenues for bringing more women into crypto

• how DAOs change the nature of work

• how Chase gets paid – and why her accountants might start ducking her calls

• why Chase is passionate about DAOs having a core set of values

• why Chase thinks terms like “permissionless” and “decentralized” should not be used to describe DAOs

• what DAOs can learn from corporate structures

• why Chase is coming around to the idea that DAOs might not need a single HR department

• how DAOs are dealing with inactive whale token holders versus DAO contributors (who own smaller amounts of token)

• what suggestions Chase has for some of the recent big DAO controversies involving Ethereum Name Service and SushiSwap

• the role of anonymity in DAOs

• which DAO tools Chase is impressed with and what SnapShot has in common with Wikipedia

• why Discord is not that bad for DAO management

• how Chase envisions DAOs and NFTs intersecting in the future
• what DAO trends Chase is looking forward to in the coming months

Book Update

You can purchase it here: http://bit.ly/cryptopians