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- 👀 $1.5 Million Request To NOT Go Bankrupt
👀 $1.5 Million Request To NOT Go Bankrupt
PLUS: Metamask In Cahoots With The Indian Government? 🇮🇳
Gm, this is doodhwala, the only crypto newsletter that makes crypto as easy as taking candy from a baby. 🍬
Your ask today: Find a baby 👶🏽. Snatch the candy 🍫. Replace it with doodh. 🥛
Here are the other tasks for today:
💰 Gimme Money: An Open Request For $1.5 Million
⚠️ Metamask Hacks: Scammers Are Attacking Your Metamask Wallet
📈 Cheese and Charts: MakerDAOs Money Printer
🛠️ Resourcewala: Web 3 Full Stack Development 101
🍼 Doodhshots: Metaverse = Tax Haven?
💰 Give Me My $1.5 Million!!
What would you do if someone randomly came to you and asked for $1.5 Million?
And the best part - If they provided you a good reason to give it away? 🤔
That’s kinda what happened with LIDO Finance. 💀
There was a random doodh who was asking for $1.5 million dollars to the LIDO community.
Y tho?
My man wanted to build a Liquid Staking infrastructure for Solana on the platform. 💧
Who is this dude?
And why is he asking for money straight up? 🤑
1️⃣ WTF is LIDO?
Okay, let’s start with wtf LIDO is.
Lido is the flag bearer for the Liquid Staking market. They are the most used liquid staker and the biggest application across all blockchains with $15 billion in total value locked.
We know, it's been a while, even tho we wrote about it in detail here. 🤭
2️⃣ Who’s asking for money again?
Okay, now back to understanding the doodh who wanted $1.5 million.
He has a name – Yuri Mediakov.
Yuri is a part of team P2P, the company that is building Liquid Staking infrastructures for Solana.
And why do they need the money?
Sustain the project ✅
Grow the project ✅
Not go bankrupt 💀
But to be fair, the P2P team has been building and maintaining a lot of the current infrastructure for Solana Staking on Lido.
Idk, is it a good deal then? 🤷♂️
Yuri presents a swell offer NGL. 🤔
3️⃣ How much is 1% Market Share - Really?
We're unsure what kind of milk Yuri drinks, but we know it has some weird Russian name fo sho.
But we do know that Yuri is promising to capture about 1% of the – Solana Staking market share using the money he would receive from Lido.
Let's do the math:
1% of SOL staking share will generate an annual revenue of 10,191 SOL (~$200,000) at current prices.
So technically, technically, P2P would get $1.5 million, and return under 15%. 🤔
No clue how LIDO will actually react to this. 🤷♂️
Because they might not be left with any other choice.
That's because Yuri also said that if they didn't get the money, they would gradually close the project by next year. 📉
So what are you gonna do now, LIDO?
Either fork out the money to an established Solana competitor and reap the rewards long term, or just wait it out. ⏰
The offer is in your court.
Doodhwala’s Take: Can I get $1.5 million? I can deliver fresh milk. 🥛🐄
🦊 Is Metamask Working With Governments?
MetaMask.
It’s that popular Ethereum wallet that everyone downloads hoping they would look cool.
But what’s happening right now is not cool at all.
So there's a new scam in town that involves MetaMask in a really BIG way.
Some government websites from places like India, Nigeria, and Brazil (plus a few others) have been redirecting people to fake MetaMask sites!
I thought govt websites are shitty but safe. But no, shitty and unsafe.
So, how does this scam work? 🤷♂️
Scammers are using real-looking government websites. 👇
Source: Cointelegraph
The moment you click on these links, it takes you to “MetaMask.io”.
But not the original one, the fake one.
Tho Microsoft Defender jumps in to give you a warning.👇
How to Spot a Fake? 👀
Honestly? It's tough! 🥲
The fake sites and the real ones look almost the same.👇
But here's what MetaMask advises:
If something seems off? Report it!
If your the seed phrase might've been seen? Stop using it. Make a new one on a device you trust.
And a big tip: MetaMask won’t ask for personal info. If someone’s asking, it’s not them!
🥛 Doodh Tip: Bookmark OG crypto websites, so that you don’t get redirected to them from an un-trustworthy site.
What did MetaMask say about all this? 🤔
“We’re working on it! We're trying to find these scams and stop them quickly.”
A little bit of more explanation would’ve been really good, MetaMask. 🤨
Like how’d it happen? Why’d it happen? But looks like you’ve literally put a mask on your mouth.
Doodhwala’s Take:
Stop connecting your wallets everywhere just for the sake of it.
No one’s gonna give you any crypto or NFT for free.
It’s just us who give you free doodh and don’t even ask you to connect your wallets.
📈 Cheese and Charts: MakerDAO Makin’ a Lot of 💰
MakerDAO.
Yeah, it’s MAKING a lot of money.
They’re set to make over $150M in annual revenue (even in this kinda dry market).
Mind. Blown. 🤯
But not from what you might think.
MKR tokens? No.
Stablecoins? No.
Doodh? No. (That’s us)🥛
It’s RWAs.
Wtf are RWAs?
RWAs stand for Real-World Assets - things like property, commodities, and even artworks that exist out there in physical form and can get tokenized on the blockchain.
So, majority of this sweet cash, like 70-80%, comes from stability fees against RWAs. 💰
And for MakerDAO, RWAs include:
Bonds
Short-term bills
Business loans, and a few more.
You see, RWAs or Real-World Assets are pretty much the backbone of MakerDAO's success story here.
And that’s why the main question is - Does MakerDAO’s fate rely on the success of RWAs?
Whatcha think? (REPLY and spill your thoughts) 🍵
Source: Delphi Digital
🛠 Resourcewala: Be A Full Stack dApp Dev
Dapp devs. 😎
If you've been hearing this term being thrown around more often but still scratching your head, worry not! 🤔➡️🤯
From Ethereum to Flow, the dApp universe is ever-expanding, and the opportunities? Endless.
But mastering it? Well, it ain't child's play.
Hop on as we delve into:
Wtf is a full stack dApp development? 🧙🏻♂️
Why it's THE skill to acquire right now 📈
The tools of the trade for dApp devs 🔧
Plus: Challenges? How to tackle 'em head-on! 🦸♂️
LFG! 🔥🔥🔥
🍼 Doodhshots: Metaverse = Tax Haven?
↔️ Visa’s Expansion: Payment network VISA is expanding its stablecoin settlement options to Solana after Ethereum. TradFi entering crypto is kinda scary NGL.
📱 Mobile Nodes: Vitalik just said that future upgrades on Ethereum could allow you to host nodes from your mobile. Brb, on my way to host a node from my bathroom.
⌚ Virtual G-SHOCKs: G-SHOCK by Casio is launching a series of virtual watches for collectors on the Polygon Blockchain. Awesome, look bad both IRL and virtually!
🏖️ New Tax Haven: Harvard experts are saying that the metaverse could become a new tax haven if they aren’t taxed soon. Bro graduated from the Harvard School of Stupidity.
💟 Favorite Altcoin: After registering more than $26 million inflows YTD, Solana is now the ‘most loved altcoin’ among investors. Tanmay Bhat wants to know your location.
📍Web3 Events Nearby
Another weekend coming up, another meetup to attend. 😎
Check out ➡️ meetupswala.xyz for upcoming Web3 events in your city, whether you're looking for:
meetups
hackathons
conferences
or just wanna hang
Meetupswala will have something that's right for you.
Here are the top Web 3 events for this week:
1️⃣ CryptoMondays Bangalore Kickoff - NFTs in the Real World at Zo House
🗓️ Next Monday 📍 Bangalore
⭐️ Register here → https://www.meetupswala.xyz/events/1069
2️⃣ Billion Reasons to Build ~ Vanakkam Kochi
🗓️ This Saturday 📍 Kochi
⭐️ Register here → https://www.meetupswala.xyz/events/1068
3️⃣ BlockTalks
🗓️ This Saturday 📍Delhi
⭐️ Register here → https://www.meetupswala.xyz/events/1067
🤣 Milky Meme Of The Day
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That’s all for today folks! See ya tomorrow!
Yo! Our legal and financial advisors (aka our good ol’ conscience) have asked us to add this boring disclaimer. None of what you read here is financial advice. We aren’t here to get you to buy or sell crypto. We’re only here to tell you what’s up in crypto today and make you laugh. So, if you screwed up on a trade, that’s on you G. Stay safe in the markets.