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By Julian Paul • Issue #29 • View online
Last week, tons happened in web3. Here are three highlights:
But without further ado, this week’s dose of web3 is broad ↓

one twitter thread
There are currently 32,267 ETH ($59,048,610) worth of NFTs being used as collateral for loans on BendDAO alone

For the first time ever, a lot of these are at serious peril of liquidation

A thread on the single biggest risk to the NFT market that nobody is talking about
Cracking The Code of The NFT Flywheel
“…At a deep human level, what motives us to understand and more importantly, utilize finance? Entertainment in all of its various forms. What better vehicle in Web3 to commercialize both entertainment and finance? NFT’s. So you’re beginning to see why this convergence is not a matter of if, but a matter of wen. The flywheel in its current form, and for the foreseeable future, looks like: NFT Collection → Bribes → Liquidity → Repeat…”
Read the full article here by @0xOmnia.
Aztec: The Scalable Privacy Layer for Ethereum
“…Aztec Network introduces a privacy layer to this. Founded by Zac WilliamsonJoe Andrews and Thomas Pocock, Aztec Network is a ZK-rollup on Ethereum built with privacy preserving architecture that provide both users and decentralized applications access to privacy through private transactions enabled with zero-knowledge proofs…“
Read the full article here by @_knarb.
undiscovered products³
And that’s that. If you liked this, why not forward a friend? is curated by Julian Paul.
See you around.
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Julian Paul

Bite-sized, weekly web3 recaps for product builders. 1 thread, 2 reads & 3 products. For noobs, degens & legends.

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