BitDAO Accumulates, CowSwap Soars, & Azuki's Recent Rise

FEB 03, 2022 • 4 Min Read

Joo Kian

DISCLOSURE: DELPHI VENTURES HAS INVESTED IN COWSWAP AND IMMUTABLE. MEMBERS OF OUR TEAM ALSO OWN CRYPTOPUNKS, BAYC AND MAYC. 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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BitDAO’s Fat Treasury

  • BitDAO is an investment DAO that supports builders in the decentralized ecosystem through partnerships and funding. BitDAO benefits from its successful investments that will contribute back to the BitDAO treasury.
  • Since its inception, ByBit has pledged to contribute 2.5bps of its futures trading volume towards the BitDAO treasury. The contributions from ByBit have exceeded $500M in value since it started on July 21st and are continuing to grow at $1-2M daily contributions.
  • BitDAO’s treasury currently sits at $2.1B, making it one of the largest DAO treasuries.
  • Recently, BitDAO has passed two notable initiatives. The first was a $200M commitment to zkDAO, which aims to promote the development and adoption of zkSync. In addition, it approved a $400M commitment to Game7, a blockchain gaming acceleration DAO.
CowSwap Hits $2B in January Volume

  • CowSwap has achieved another record-breaking month, crossing $2B in swap volumes on Jan 2022. CowSwap’s simple and gasless UI makes it easy for users to trade even without holding ETH to pay for gas. Their unique design allows for Coincidence of Wants (CoWs), which matches P2P trades that reduce swap fees, transaction batching that optimizes gas usage and MEV protection that prevents sandwich attacks for their users.
  • Airdrop Alert! If you have traded >$1k in volume on CowSwap, you should be eligible for the airdrop. Check your address to see if you will be receiving any $COW.
  • GnosisDAO will also be rewarding GNO holders with $COW if they lock their GNO for one year and are GBC Validators or are mGNO holders. For more details, please look at this post. The deadline is February 15th.
  • To learn more about CowSwap, see our previous Delphi Pro report.
SandBox Heating Up

  • SandBox land transfers have become much more active over the past week, peaking at 10k daily transfers a few days back. However, the volume is still well below November’s “Meta” season, when Facebook announced its major initiative.
  • SandBox recently partnered with Warner Music Group, giving fans hope for a potential metaverse concert by their favorite artists.
  • In addition, they announced their $50M Metaverse Accelerator program alongside Brinc and Animoca Brands to support the metaverse development.
Azuki Enters The Big Boy Club

  • In less than 20 days since mint, Azuki has cracked the top 10 list of collections by all-time trading volume. Its floor price has more than doubled in the past 7 days, breaking 10 ETH and hitting a high of almost 15 ETH. There were several large 150 ETH sales, including this fire-hair to Arthur0x. There is a growing consensus that the anime art in the collection is top-notch.
  • The parabolic rise in Azuki price has led to a price surge for PFP collections inspired by Asian comic book styles, as speculators try to catch the “next Azuki.” This includes Zipcy’s SuperNormal (Korean Manhwa-style), Lives of Asuna & Killer GF (Japanese Anime-style). This trend will likely continue so long as Azuki remains a popular collection.
  • To keep up to date on the latest NFT trends, Delphi members can read weekly NFT Insights research.
Notable Tweets

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Immutable Partners with GameStop

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