Voyager Files for Bankruptcy, Axie Infinity Land Staking, State of the NFT Market

Chart of The Day: Voyager Digital Files For Bankruptcy

• Crypto lender and broker Voyager Digital has filed for Chapter 11 bankruptcy, estimating that it has more than 100k creditors. The single largest creditor is Alameda Research with unsecured loans of $75 million.
• Alameda’s history with Voyager dates back to Oct-2021, when the company raised $75 million in strategic investment. The company raised a further $60 million in May-2022 during a private placement led by Alameda. Currently, Alameda owns approximately 9.49% of Voyager’s equity, after surrendering approximately 2.29% of the equity for no compensation.
• Voyager Digital is a publicly-traded company listed on the Toronto Stock Exchange as VOYG. The company has also issued the VGX token, allowing users to earn boosted rewards, higher referral bonuses, and better pricing for trades.
• On 22nd June, the company announced that its exposure to Three Arrows Capital (3AC) consists of 15,250 BTC and $350 million USDC. Since then, the VGX token has traded at a higher market cap than the company’s VOYG equity shares.
• On the same day, the company also announced that it had agreed to a $500 million credit facility from Alameda Research to cover the exposure. Despite this measure, the company restricted customer withdrawals from $25k to $10k and issued a notice of default to 3AC within the next 7 days.
• On 2nd July, Singapore-based 3AC filed for Chapter 15 bankruptcy, which allows the company to shield US assets and block creditors like Voyager Digital from filing lawsuits.

Airdrops, ETH Farms, Optimism Liquidity & Virtual Land Staking

[Excerpt from a Delphi Insights Report]

• Axie Infinity is a game universe filled with fascinating creatures (“Axies”) that players can collect as pets. Players aim to battle, breed, collect, raise and build kingdoms for their Axies. The universe has a true player-owned economy where users can buy, own, sell and trade the resources they earn through skilled gameplay and contributions to the ecosystem. Learn more about it here.
• Yield calculations can be found here. To access Ronin, you’ll need to download and set up a Ronin Wallet here.
• Bridge: You can deposit and withdraw assets onto Ronin using the Ronin Chain Bridge – Transfer your assets between Ethereum/MetaMask and Ronin.
• Tokenomics: Total Supply of 270M AXS, with 29% (78.3M AXS) of the total supply reserved for Staking Rewards which is currently vesting monthly.

• Notable Unlocks:
  • 20% (54M AXS) of the total supply reserved for Play and Earn is currently vesting since Q1/Q2 2021
  • 8% (21.6M AXS) of the total supply reserved for the Ecosystem Fund is currently vesting
  • 21% (56.7M AXS) of the total supply reserved for Sky Mavis is currently vesting
  • 7% (18.9M AXS) of the total supply reserved for Advisors is currently vesting
  • 4% (10.8M AXS) of the total supply reserved for Private Investors is currently vesting
• Land Staking:
  • Once any type of gameplay for Land is released that can support token rewards, these Land Staking rewards will transition to be rewarded through active gameplay
  • Rewards are 11,194.62 AXS daily and differ based on the rarity-level of the staked land

• Resource Gathering and Crafting:
  • Resources will spawn in nodes across Lunacia and be used to upgrade both land and Axies
  • Landholders will have first rights to any resources that spawn on their land
• Real-Time PvE Battles:
  • Monsters called Chimera are terrorizing Lunacia. Players will be able to take on Chimera in real-time battles, either alone or in groups
  • Chimera will drop an assortment of resources, items and blueprints used to upgrade land and individual Axies
• The world:
  • Lunacia consists of 90,601 plots of Land
  • Land gameplay is still being actively developed and will be released in phases
• Phase 1 – will focus more upon simulation and land management (production, resource gathering, building and trading)
• Phase 2 – will build in additional management gameplay elements (such as skill trees, jobs, and social/cooperative activities)
• Phase 3 – will focus more on group strategic gameplay (defend, battle, conquer)
• For more information, Delphi members can see the full Delphi Insights Report here.

The State of the NFT Market w/ Andy Chorlian

[Excerpt from a Delphi Podcast]

• In this 2-hour special, we sit down with Andy Chorlian, Co-founder and CEO of Fractional, a decentralized protocol that enables collective ownership and governance of one or more NFTs. We discuss all things NFT including Bored Ape Yacht Club’s (BAYC) airdrop strategy, governance with fractionalized NFTs, Nouns and CC0 NFTs, and much more.
• Resources: 
  • Andy’s Twitter
  • Fractional Twitter
  • Fractional Discord
  • Fractional Website
• More
  • 📺 Watch Video Interviews
  • 💬 Follow Delphi Podcast on Twitter
  • ✅ Follow Delphi Digital on Twitter
  • 🧠 Access Delphi’s Research
• For more, you can see our latest Delphi Podcast releases here.

Notable Tweets

$3 million loan against 147 CryptoPunks

Two NFT whales borrowed $3.16M across their 147 CryptoPunks (21.5k DAI loan each) on @NFTfi today. 🤔

Also looks like @metastreetxyz was the sole lender for all of these loans.

https://dune.com/rchen8/NFTfi

— Richard Chen (@richardchen39) July 4, 2022

Solana-focused MEV Dashboard

The team at Jito Labs is excited to announce the first Solana-focused MEV dashboard!

Check out our article for a link to the live dashboard, insights from the data, and some details on our upcoming products!

— Jito Labs (@jito_labs) July 6, 2022

Optimism governance proposal to use Celestia

gm, kicking off an @optimismPBC governance proposal for using @CelestiaOrg for data availability and ethereum for settlement

we’re planning to deploy a Celestium Testnet leveraging a fork of Optimism and the Quantum Gravity Bridge:

https://t.co/6L2ouuxfi9

— aditi 🧱 (@adeets_22) July 5, 2022