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- Web3 Weekly Recap 10/9 ~ 10/15
Web3 Weekly Recap 10/9 ~ 10/15
Jonathan Chen
October 17, 2023
🚀 Welcome to our weekly DeFi Protocol Spotlight 🚀
A dramatic ending to a week.
We will dive in on what is happening on BTC ETF and some new blockchain opportunities that we should pay attention to.
Let’s start
CoinTelegraph announced that SEC approved the bitcoin ETF, turned out to be a fake news
Cointelegraph, with 1.9 million followers on twitter, tweeted the breaking news that SEC has officially approved the request of BTC ETF.
The price of Bitcoin pumped from $28,000 to almost $30,000 within minutes.
It turned out to be a fake news, and the tweet was deleted after.
Price then suddenly fell back to the original level.
Another day, another airdrop opportunity!
Tea protocol, an open source software platform just announced that they are launching their Incentivized Testnet in the early 2024!
The goal of Tea Protocol is to reward the developers that are building, contributing, or maintaining the open sources online.
With more than $16m raised, it is definitly worth paying attention to what they are building and earn some $TEA if we can.
WHAT DO WE DO NOW?
Go to http://tea.xyz/#get-started and sign up to be in the waitlist!
Whether you are a developer or not, signing up to a protocol does nothing bad to you!
Arbitrum round 1 grant just finished, $40m going out
With more than 100 dapps applied for the grant, it is fair to say that there are definitely opportunities coming. Here is why
First of all, what is this Arbitrum grants?
Basically, the Arbitrum DAO and team support the teams that are building on the Arbitrum ecosystem by giving them financial grants - money.
Think of it like a marketing budget or running ads on a store, the purpose of Arbitrum is to expand and make sure the platforms/dapps on the blockchain is doing well.
So, why might the users benefit?
Think of what happens when a project gets money from sponsors.
2 ways to spend the money:
- Share it with the workers in the team
- Share it with the users on the project
In Web3, reputation is everything when it comes to a project.
Taking grants and just share it with your team is def not the best way to build reputations.
So, we can expect a lot of events, competition, or even airdrops from the teams that received grants.
For example, we might see some "boost" in APY for liquidity providing, or some fees deductions when trading on the platforms.
How do we find these projects?
@OuroResearch did a wonderful job in organizing the information about the projects and grants distribution.
44% of the grants will go to perp, including
15% will go to DEX, including
GMX is receiving the most token. And interestingly,
did not get approved and is missing out on this grant. There are total of 29 projects that received grants, and opportunities are just within them!
Thank you for reading this week’s protocols recap!
See you next week.
Pingyu