LUNA Back?
Good morning. Today in the CT5 we have a major golf company joining LinksDAO, an Ethereum scaling solution with a huge funding round, and LUNA making a comeback?? All that and more!
Market Update (as of 8:30am ET):
My asks from you:
- Forward to your friends, family, and anyone that would be interested (check the Top Sharers leaderboard at the bottom of this email to see where you stand!)
- If you're new, hit that pink subscribe button just below this section
- Send any and all feedback to jmaxxyoungii@gmail.com
- Add us to your Contact List so this newsletter doesn't end up in your spam folder
Top 5:
1. In wake of stablecoin UST’s implosion, new LUNA launch imminent. A week-long voting process saw 65% of LUNA holders vote to create a new Terra chain in what is being called the "rebirth proposal". The new chain will not be attached to the UST stablecoin that imploded earlier this month but will take over the Terra moniker and LUNA token while the old chain will be renamed Luna Classic. The new LUNA token will launch on May 27th and be airdropped to existing stakers, Luna holders, UST holders, and Terra developers.
1/ Terra 2.0 is coming.
— Terra 🌍 Powered by LUNA 🌕 (@terra_money) May 25, 2022
With overwhelming support, the Terra ecosystem has voted to pass Proposal 1623, calling for the genesis of a new blockchain and the preservation of our community.
2. Callaway joins LinksDAO as equity investor, ‘strategic partner’. LinksDAO, the DAO trying to buy one of the world's top golf courses, has brought on golf equipment manufacturer Callaway as an investor and strategic partner. Callaway brings not only cash, but clout to the DAO and will also serve as the official equipment provider for the DAO with discounts offered to LinksDAO members.
thrilled to announce we have closed a major strategic partnership with @CallawayGolf that brings big member benefits across their portfolio of companies! join us tonight to learn more https://t.co/Qm4bRAopGQ
— LinksDAO (@LinksDAO) May 25, 2022
3. Hotels using NFTs to create a StubHub for lodging reservations. Resorts in the Caribbean, Hawaii, and Mexico are using NFTs to avoid last minute cancellations and ensure they get paid for their rooms. Startup Pinktada allows guests to reserve nonrefundable rooms at participating hotels for a discount by purchasing NFTs through the platform. If the guests decide not to go, they can sell or trade their NFT on the Pinktada marketplace without impacting the hotel's revenue.
4. Fidelity's bitcoin index fund surpasses $125 million in investments. According to its latest SEC filing, the fund has now raised a total of $126.5 million as of May 23. The Wise Origin Bitcoin Index Fund, which went public in August 2020, raised $102 million in the first 9 months of operations, so the latest filing indicates a slowdown of inflows to the fund. While the fund's rate of growth has slowed, the number of investors has increased dramatically, from 83 to 689.
5. Ethereum layer-2 developer StarkWare valued at $8B. The layer-2 scaling solution developer raised $100 million in a Series D round of funding, quadrupling its previous valuations from $2 billion to $8 billion. The protocol aims to reduce the amount of information sent to the Ethereum blockchain to alleviate congestion using their STARKs technology. The company's scaling engine, StarkEx, compresses transactions through STARKs before adding them to the Ethereum blockchain network. Reportedly, around $500 billion has been traded on StarkEx thus far.
Updates and other stories:
- Portuguese Congress rejects two bills seeking to tax crypto...Read More
- Congress mulling stablecoin regulation after Terra crash...Read More
- Gaming DAO Merit Circle and YGG caught in DAO governance strife...Read More
Top Sharers of the Crypto Top 5:
1. Donna Y. - Nashville, TN
2. Jake Y. - Greenville, SC
3. Forrest H. - Evansville, IN
External Resources:
1. Cryptopedia from Gemini - if you see a word, acronym, or phrase in this newsletter that you don't understand, there's a good chance you can find an explanation here
2. Crypto Explainer+ - intro level courses on Bitcoin, Ethereum, decentralized finance, NFTs, and more
3. Crypto Jobs! - looking for a new job? Check out this page from Anthony Pompliano with hundreds, if not thousands of listings
Disclaimer: The information contained in this newsletter shall not be understood or construed as financial advice. I am not an attorney, accountant, or financial advisor, nor am I holding myself out to be, and the information provided is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation.