Weekly DeFi Update - New Airdrop Announced for Hive Holders, ELK Farming on xDAI and More.
A busy week is behind us. A lot of new updates, projects, and announcements have come about and I'll try to cover the most important ones, as always.
New NFT PVP Game Launching on Hive!
Today I woke up to a great update by @theycallmedan on Twitter. According to the tweet, it seems that all Hive holders will be getting an airdrop for this new game and the snapshot date is the same as for SPK.
The whole concept sounds interesting, especially the part where players essentially burn HDB, but without more info, we can only speculate. Hopefully, more info will be dropping soon.
zkSync Airdrop Preparations
No one really knows when and how zkSync will drop their token but it is now clear that there will be one. There is a detailed explanation about the tokenomics that you can find here. It is known that the token will be used for staking and becoming a validator on this L2 but the airdrop requirements are a secret.
If the past can teach us anything it is that we should all use zkSync on both the testnet and mainnet. If you need help with Rinkeby this video will be helpful. If you want to try it out on mainnet you can use the zk wallet and deposit some ETH through it. ZigZag is the only market maker on zk so far.
Elk Finance Farming Is Live on xDai
If you followed the announcements of Elf Finance on Twitter you would have noticed that the #elkrush has reached xDai. APY is not bad at all right now so those with spare funds on xDai should pay attention during the event.
Elon vs CZ
Not a DeFi update, just something that happened while I was writing this article. Apparently, Binance isn't allowing Doge withdrawals for a few weeks now and Elon Musk decided to call them out. I don't know why but I love some billionaire Twitter drama.
Thai Lopez Launches OHM Fork
If you like to speculate on top signals, now is your chance. The "here in my garage" guy is officially into DeFi and it seems to me forking projects is a bit too easy these days.
Obviously, you shouldn't be putting any money into this shit. Have a good laugh at our old friend and move on with your life.
Avalanche Still Sucks
The recent price rally on Avax got people all excited about the project but the network showed that it can't handle large user numbers. Gas prices went through the roof and started to early resemble the early days of ETH gas fees going bonkers.
I moved all of my liquidity from every single L1 project that doesn't have a decentralized node distribution, including Avax. I just can't see how they will handle scaling and even Matic will have a problem if the token price goes up by a large margin.
Posted Using LeoFinance Beta
