Andre's Effect on Fantom, Active DAO Votes, & All About Celestia
MAR 08, 2022 • 4 Min Read
DISCLOSURE: DELPHI VENTURES HAS INVESTED IN CELESTIA, LUNA (TERRA), AND COWSWAP. DELPHI HAS DONE CONSULTING WORK FOR AAVE IN THE PAST. MEMBERS OF OUR TEAM HOLD AAVE, FTM, FXS, SOLID, AND SEX. THESE STATEMENTS ARE INTENDED TO DISCLOSE ANY CONFLICT OF INTEREST AND SHOULD NOT BE MISCONSTRUED AS A RECOMMENDATION TO PURCHASE ANY TOKEN. THIS CONTENT IS FOR INFORMATIONAL PURPOSES ONLY AND YOU SHOULD NOT MAKE DECISIONS BASED SOLELY ON IT. THIS IS NOT INVESTMENT ADVICE.
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Chart of The Day: Fantom Falls on Andre and Anton’s Departure
- On March 6th, the news of Andre Cronje and Anton Nell leaving the crypto space took Twitter by surprise. The pair announced they will be terminating over ~25 applications and services they managed. However, there’s no need for panic as projects like DeFiLlama will be forking Chainlist and Solidex is making arrangements to maintain Solidly’s UI.
- Andre and Anton-related projects quickly took a beating. The TVL and price of Fantom have dropped by -22% since the announcement, as both were rather key players in the ecosystem. Solidly and Solidex were even more affected, with TVL for both falling by around 45% since the news broke. Of course, the departure likely doesn’t spell the end for Fantom, as there were many other builders in the ecosystem before Andre’s entrance.
- For more on Solidex and Solidly, Delphi members can see our recent Yield Insights post here.
Keeper DAO Planning Proposal, CowDAO Goes Live
[Excerpt from our Mar. 7 DAO Insights]
- Aavegotchi has two proposals currently running.
- The Great Filter: This first proposal will add filters to the Gotchi marketplace, allowing users to filter Gotchi’s by certain traits. Certainly a UX improvement, and surprising that it doesn’t already exist.
- VRF: This proposal changes a key mechanic in the Gotchis ground parcels. The amount of Alchemica a parcel owner receives is currently randomly determined along a specific variance. This creates a situation where some could potentially lose significant funds from bad rolls on their parcel. This proposal recommends changing the randomness to remove the chances of a significant downside.
- CowDAO is currently voting on two proposals.
- CIP-1: This proposal presents a Participation Agreement that codifies the relationship and responsibility of Cow DAO stakeholders. This includes outlining their governance process moving forward, and importantly, it also outlines Gnosis DAOs contributions and limitations.
- CIP-2: If this proposal is accepted, 500 ETH and 7m COW tokens will be sent to their protocol development team. Funds will be used to incentivize and support solvers. Solvers compete for orders, which are then executed on-chain. The development team will use funds to compensate the gas cost of solvers and award-winning solvers with 100 COW for each on-chain settlement.
- Frax Finance is continuing the trend by also voting on two proposals.
- Acumulatoooor: This post proposes accumulating BTC for the Frax Finance treasury. This would divert 20% of AMO profits from veFXS to purchase BTC when the price is below 50k.
- Perp <> Frax: This proposes a partnership between Perpetual Protocol and Frax Finance. To cement the partnership they propose the following:
- 10M FRAX loan to the Perp Foundation team to be utilized for market making activities on Perp V2.
- Tenure of 6 months.
- 5% interest to be paid in PERP.
- Enable FRAX as multi collateral.
- For more, Delphi members can read the full DAO Insights analysis here.
Celestia: The World’s First Modular Blockchain Network
[Excerpt from Delphi Podcast]
- In this episode, we sit down with John Adler, Co-founder of Celestia, the first modular consensus and data network to power scalable and secure Web3 applications. We discuss the rise of blockchain modularity, how Celestia solves the data availability problem, plans to bootstrap the Celestia ecosystem, and much more!
- To learn more, Delphi Pro members can read the full report on Celestia here.
Resources:
- John’s Twitter
- Celestia Twitter
- Celestia Website
- Our Research Paper on Celestia
- Delphi Podcast Summaries
More
- 📺 Watch Video Interviews
- 💬 Follow Delphi Podcast on Twitter
- ✅ Follow Delphi Digital on Twitter
- 🧠 Access Delphi’s Research
Notable Tweets
How Leverage Yield Farming Works on Mars Protocol
Andre and I have decided that we are closing the chapter of contibuting to the defi/crypto space.
There are around ~25 apps and services that we are terminating on 03 April 2022.
1/3— Mars Protocol (@mars_protocol) March 7, 2022
Biden to Sign Executive Order for Crypto Strategy
President Joe Biden is set to sign an executive order this week that will outline the U.S. government’s strategy for cryptocurrencies
— Bloomberg Crypto (@crypto) March 8, 2022
UST on Aave Soon!
1) We are excited to support the onboarding of UST to @AaveAave 👻 🌕
https://t.co/S87rk7q2bi
— Anjan Vinod (@anjan_vinod) March 8, 2022
