To the $LUNA: The Delphi Debrief

MAR 20, 2021 • 4 Min Read

Nick Pappageorge

Metus vulputate eu scelerisque felis. Nulla facilisi cras fermentum odio eu. Scelerisque fermentum dui

faucibus in ornare quam viverra orci sagittis. A iaculis at erat pellentesque adipiscing commodo elit. In

fermentum et sollicitudin ac orci. Ultrices sagittis orci a scelerisque purus. Faucibus ornare

suspendisse sed nisi lacus sed viverra tellus in. Mauris cursus mattis molestie a iaculis at erat

pellentesque adipiscing. Volutpat diam ut venenatis tellus in metus vulputate. Eu consequat ac felis

donec et odio pellentesque. Eu mi bibendum neque egestas congue quisque egestas diam. Quam

lacus suspendisse faucibus interdum posuere lorem. Quam id leo in vitae. Ut faucibus pulvinar

elementum integer enim neque. Id ornare arcu odio ut sem nulla pharetra diam sit. Molestie ac feugiat

sed lectus vestibulum mattis. Ipsum nunc aliquet bibendum enim facilisis. Euismod nisi porta lorem

mollis aliquam ut porttitor.

Iaculis nunc sed augue lacus viverra vitae congue eu consequat. Gravida neque convallis a cras.

Nunc scelerisque viverra mauris in aliquam sem. Non odio euismod lacinia at quis risus sed vulputate

odio. Purus faucibus ornare suspendisse sed. Turpis egestas maecenas pharetra convallis posuere

morbi. Nec feugiat nisl pretium fusce id velit ut. Nunc congue nisi vitae suscipit tellus mauris a diam.

Posuere sollicitudin aliquam ultrices sagittis orci. Urna nec tincidunt praesent semper. Turpis nunc

eget lorem dolor sed viverra.

suspendisse sed nisi lacus sed viverra tellus in. Mauris cursus mattis molestie a iaculis at erat

pellentesque adipiscing. Volutpat diam ut venenatis tellus in metus vulputate. Eu consequat ac felis

donec et odio pellentesque. Eu mi bibendum neque egestas congue quisque egestas diam. Quam

lacus suspendisse faucibus interdum posuere lorem. Quam id leo in vitae. Ut faucibus pulvinar

elementum integer enim neque. Id ornare arcu odio ut sem nulla pharetra diam sit. Molestie ac feugiat

sed lectus vestibulum mattis. Ipsum nunc aliquet bibendum enim facilisis. Euismod nisi porta lorem

mollis aliquam ut porttitor.

Iaculis nunc sed augue lacus viverra vitae congue eu consequat. Gravida neque convallis a cras.

Nunc scelerisque viverra mauris in aliquam sem. Non odio euismod lacinia at quis risus sed vulputate

odio. Purus faucibus ornare suspendisse sed. Turpis egestas maecenas pharetra convallis posuere

morbi. Nec feugiat nisl pretium fusce id velit ut. Nunc congue nisi vitae suscipit tellus mauris a diam.

Posuere sollicitudin aliquam ultrices sagittis orci. Urna nec tincidunt praesent semper. Turpis nunc

eget lorem dolor sed viverra.

lacus suspendisse faucibus interdum posuere lorem. Quam id leo in vitae. Ut faucibus pulvinar

elementum integer enim neque. Id ornare arcu odio ut sem nulla pharetra diam sit. Molestie ac feugiat

sed lectus vestibulum mattis. Ipsum nunc aliquet bibendum enim facilisis. Euismod nisi porta lorem

mollis aliquam ut porttitor.

This week marked the launch of Anchor, a savings protocol on the Terra blockchain. Anchor’s main objective is to offer depositors stable interest rates and, ultimately, to become the “reference interest rate across the universe of blockchains.” Adding to the excitement, of course, was the fact 50M Anchor tokens were airdropped to users that staked Luna on Terra Station.

​​​​​​In anticipation, we published a brand-new Daily on how Anchor could impact the value of Luna and the greater Terra ecosystem. (Spoiler: we believe it’s currently misunderstood by the market.) Delphi’s own Yan Liberman wrote a thread summarizing the post, which was seconded by Terra’s founder Do Kwon:

(Disclosure: Delphi Ventures is an investor in $LUNA and $ANC.)

If you need a Terra refresher, we previously made this ​​client-only overview of the ecosystem and Luna’s value prop.

Beyond the Anchor launch, we published several exciting interviews this week. The legendary Mike Novogratz joined us for a well-received Clubhouse interview. ​​​​​And in a strange twist of fate, Guy Lawrence—one half of the electronic music duo Disclosure—appeared on the podcast after Delphi analysts won a $140,000 Disclosure NFT auction. Both episodes are up on your favorite podcast app.

Stay degen,

Nick
@npappag


 

 

 

 


Anchoring The Market To A New Reference Rate by Jonathan Erlich and Jose Maria Macedo



Diem: Crypto Friend or Foe? by Kevin Kelly, CFA

Key Takeaways:

  • Facebook Libra rebranded to Diem. Facebook’s original Libra wallet, Calibra, has been rebranded to Novi. Novi Financial is a regulated financial company and a subsidiary of Facebook, Inc.; it is also a member of the Diem Association.
  • Crucially, Diem is no longer targeting a transition to a permissionless system as regulators expressed concern that its compliance provisions and due diligence requirements could be discontinued or bypassed the project.
  • Delphi Daily subscribers & clients can see the full brief here.


Rari Revs Up by John Jimin Noh


Key Takeaways:

  • Rari Capital has seen impressive growth during this DeFi bull market, with its token, RGT, up ~49x YTD. Speculators are banking on Rari’s ability to quickly develop and ship products.
  • There are also three new important products under development – Fuse, Tanks and Nova – which we discuss in detail.
  • Delphi Daily subscribers & clients can see the full brief here.

 


Why We Spent $140K on The Disclosure Face + The Power of NFTs in Music by Anil Lulla

Key Takeaways:
  • Our team has been an investor and supporter of the NFT market for some time now. Last September, we put together a similar post where we outlined Why We Spent $159K on Digital Battle Pets known as Axies. A few weeks ago we sent a note to clients highlighting the recent growth and cautioning our clients to remain prudent as the hype within the NFT market had (in our view) gotten a bit ahead of itself.
  • This auction represented a lot more than a drawing of a face and lifetime tickets to Disclosure shows for us. It was our first (of many) investments to help showcase our identity in the emerging Metaverse that we are passionate about. At their core, this novel means of expressing identity is what NFTs enable.
  • Most importantly, our money went towards a great cause. Not only did it help raise money for organizations like Justdiggit, which makes dry land green again by inspiring and funding farmers in Africa, it also helped change the life of the artist behind the original “Disclosure Face”.
  • Read the full explanation on why we spent $140,000 for the NFT ​​​​​here.

Jack Spallone: The Colliding Worlds Of Music And Crypto

Mike Novogratz: Scaling Galaxy Into A Behemoth, Justice Reform, and NFT Hype

 

 

As mentioned, we will continue to iterate on the design of our Delphi Debrief based on your feedback—so please let us know which section you enjoy the most and what else you’d like to see!

Create a free account to continue reading

Go Pro at 40% off

Immediately access the entire catalog of research for Delphi, Office Hours & private Discord