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Full Send Friday: Week In Review

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Full Send Friday: Week In Review

Wild times in DeFi, but more focused on Bitcoin's big gains this week!

Rob Klages
Oct 23, 2020
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Full Send Friday: Week In Review

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Take one step closer to sovereignty every single week, join the DeFi Slate community below:

DeFi Slate Fam:

Happy Friday to all our DeFi Slate degens!

A beautiful week on the markets as we gear up for the conclusion of this election season. Lots to share this week! Aside from the charts, there are plenty of drivers at play across the ecosystem.

PayPal, PTJ, Novogratz, are all pumping the ponzi (lol).

And, of course plenty of action from the DeFi world as well.

Explore our week in review and take a look ahead in this week’s recap!

- Robbie


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Full Send Friday: Week In Review 10/23

This week PayPal rolled out their cryptocurrency offering to all customers including US based residents. This is super exciting news as it enables over 300,000 Paypal accounts to buy, sell, and send coins where they previously did not have access. The rumors have been steady from PayPal around releasing this offering and we expect to see continued rollouts. In the video below, you’ll see PayPal plans to roll out their Pay with Crypto product in 2021 where you can checkout at the register with the coins in your Paypal account. This initial rollout supports BTC, ETH, BCH, and LTC.

Twitter avatar for @PayPal
PayPal @PayPal
Today, we are announcing the launch of a new service that will enable customers to buy, hold and sell #Cryptocurrency directly from their PayPal account. bit.ly/3dPDAwT
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3:00 PM ∙ Oct 21, 2020
14,923Likes6,029Retweets

Alongside this offering comes a series of expected acquisitions from Paypal...including the Crypto custody goliath BitGo.

Twitter avatar for @business
Bloomberg @business
PayPal is exploring acquisitions of cryptocurrency companies including Bitcoin custodian BitGo
trib.alBloomberg - Are you a robot?
9:31 PM ∙ Oct 22, 2020
987Likes362Retweets

Switching to the .eth side of the world -- Ethereum 2.0 Phase 0 is set to launch soon™. The long awaited update to the Ethereum protocol has launched its Testnet so developers can stress test the network before actual $ETH is at stake. Remember, this is just Phase 0 of 2 so we may not see the launch of ETH 2.0 until later this year or even mid 2021.

Twitter avatar for @eliasimos
Elias Simos @eliasimos
2/ First some context - Medalla is the “prova generale” before eth2’s PoS Phase 0 Launch, which is expected to roll-out by year end. It’s a Testnet that emulates Mainnet conditions, only with no real ETH at stake - and an opportunity for operators to stress-test the network.
12:28 PM ∙ Oct 23, 2020

Diving deeper into DeFi, Curve Finance continues to innovate at an impressive pace. The community at Curve is one of the most active in the space with new proposals every and significant voter turnouts at every turn. This week they added support for $mUSD, $tBTC, $RSV.

Twitter avatar for @CurveFinance
Curve @CurveFinance
Metapool for $tBTC (@keep_project) is up. It allows to swap between $tBTC and $WBTC, $renBTC or $sBTC. That is the first #Bitcoin metapool. curve.fi/tbtc
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8:02 PM ∙ Oct 21, 2020
178Likes50Retweets
Twitter avatar for @CurveFinance
Curve @CurveFinance
Wow, liquidity utilization for $MUSD pool is really high. @mstable_ why is it so popular for exchanges?
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9:37 AM ∙ Oct 20, 2020
87Likes21Retweets

The Rari Protocol is making moves at an incredible pace. Rari Capital is releasing its v2 and set to launch its governance token $RGT. With this v2 launch comes a number of impressive updates. A transition to decentralized governance accompanies liquidity mining capabilities, new yield strategies, and a number of partnerships coming out of Rari Capital. These features as well as a series of audits are set to roll out over the next couple weeks.

Twitter avatar for @RariCapital
Rari Capital @RariCapital
We are super excited to share that Rari Capital V2 has officially been unveiled! 🏎️🚀 With the support from @acceleratedefi and everyone in the community, we are stoked to be building in such an amazing ecosystem. Read more about V2 here: medium.com/rari-capital/r…
medium.comRari Capital V2.0 is liveDecentralized governance, liquidity mining, new strategies and much more with support from the Chicago DeFi Alliance We are ecstatic to share the newest form of the Rari Protocol. This new version is…
2:49 PM ∙ Oct 22, 2020
50Likes6Retweets

Price Action

Ahh that time of year again. $BTC at yearly highs and CNBC making sure to jump on the news as we approach $13,000 price point. This comes amidst lots of newsworthy action from Daddy Bitcoin. Companies with large cash reserves, ie. MicroStrategy, CashApp, have started to diversify their cash holdings into the more promising reserve asset $BTC. A trend that seems to be just beginning. This along with the Paypal news has sparked institutional interest from some major legacy investors including Paul Tudor Jones and Mike Novogratz, who got a spotlight on CNBC this week to share their thoughts. For reference, the price of $BTC during the last presidential election season was $700.

Twitter avatar for @SquawkCNBC
Squawk Box @SquawkCNBC
"I came to the conclusion that #btc was going to be the best of the inflation trades--the defensive trades," says Paul Tudor Jones. "Bitcoin has a lot of characteristics of being an early investor in a tech company...it's like investing with Steve Jobs and Apple."
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1:09 PM ∙ Oct 22, 2020
1,087Likes356Retweets
Twitter avatar for @SquawkCNBC
Squawk Box @SquawkCNBC
"We are going to see over the next 10 yrs a rebuilding of the financial infrastructure of this country," says @novogratz. "It was the COVID virus that really accelerated adoption of crypto--the macro story with #btc, and more maybe important story of digitalization of all cash."
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1:03 PM ∙ Oct 23, 2020
106Likes45Retweets

Although $BTC has taken most of the media spotlight, $ETH has climbed the ladder just as quickly. Now toppling the $400 price point, $ETH is making higher highs and shows impressive resilience in the face of Bitcoin’s monster week. This is an important development in price action as the give and take between the two major drivers of the industry are both pointing positive. For a perfect crypto storm -- it takes two to tango. 

Twitter avatar for @coinpricenow
Bitcoin Price @coinpricenow
1 Bitcoin ( #BTC ) Dollar: 12,967.81$ 1 Bitcoin Cash ( #BCH ) Dollar: 2,70.06$ 1 Ethereum ( #ETH ) Dollar: 416.43$ 1 Ripple ( #XRP ) Dollar: 0.25586$ Date: 23 Oct 2020 14:33 #Bitcoin #Ethereum #cryptocurrency #crypto #altcoin #Blockchain #Ripple
2:33 PM ∙ Oct 23, 2020
Twitter avatar for @glassnode
glassnode @glassnode
ETH supply on centralized exchanges 📉 vs. ETH supply in smart contracts 📈 #Ethereum Chart: studio.glassnode.com/compare?a=ETH&…
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3:33 PM ∙ Sep 18, 2020
424Likes146Retweets

Sponsor Updates

With over $1B in TVL AAVE just grows, grows, and grows some more. Now they’ve added the ability to use the native token $AAVE as collateral on their platform. This has numerous implications that the community is still sorting through but ultimately it keeps the DeFi flywheel moving at a swift pace. Migrate from $LEND → $AAVE if you haven’t already and make your DeFi assets productive!

Twitter avatar for @AaveAave
Aave @AaveAave
$AAVE is now available to be deposited and used as collateral in the Aave Market 👀
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3:13 PM ∙ Oct 20, 2020
418Likes76Retweets

Look Ahead

This upcoming Wednesday (10/28) be on the lookout for a new protocol release. Introducing $GYSR, where the mechanics of token distribution are streamlined and simplified. Geysers are the hotbed of new DeFi launches and handles all the hassles of token distribution keeping transparency and fairness at the forefront. Kickoff Geysers launch with an expedited distribution over 7 days this Wednesday.  

Twitter avatar for @gysr_io
GYSR @gysr_io
💦🚀LAUNCH DATE🚀💦 🔥10/28: GYSR Launch - Kickoff and Community Boilers Launch - Staking begins: WETH, WBTC, USDC, DAI, UNI 💦11/4: Kickoff Geysers Go Live - Unlock 1% of $GYSR over 7 days 💦11/5: Community Geyser Go Live - Stake ETH-GYSR LP - Unlock 88% of $GYSR over 4 years
1:44 PM ∙ Oct 23, 2020
4Likes1Retweet


⚠️ DISCLAIMER: Investing into cryptocurrency and DeFi platforms comes with inherent risk including technical risk, human error, platform failure and more. At certain points throughout this post, we might get commission for promoting certain projects, if this is the case we will always make sure it is clear. We are strictly an educational content platform, nothing we offer is financial advice. We are not professionals or licensed advisors.


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Full Send Friday: Week In Review

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