🔥 Blur + NFT Lending = BLENDing

Gm, this is the doodhwala, the crypto newsletter that can’t stop thinking about you. 😍

Not in a creepy way. Just wanna give you the best version of us. 😉

Here’s the best version for today:

• 🌀 BLEND your NFTs

• 🔮 Sam Altman's Crypto Project

• 📈 Bye-nance $BTC withdrawals

• 🛠 Systems Thinking for Crypto Success

• 🍼 A CRYPTO-NATION in making

ALL ABOUT YOU!

🌀 BLEND your NFTs

When’s the last time you had a Chocolate Doodh-shake? 🍫

We know- It’s tasty 😋

What if we told you there’s a Doodh-shaker in the NFT space right now? 🧐

Say hello to Blend- the DeFi Milkshaker! 🤝

Wtf is Blend?

Blend is like a DeFi milkshake maker, but instead of blending ice cream and doodh, you blend your NFTs and stablecoins. 🪙

Here’s how it works -

Let’s say you put ALL $1000 of your life saving into buying a weird dog NFT. (like we did 🥲)

You wake up tomorrow morning and want to buy Premium Doodh from Europe, and need $$ for it. 😞

But at the same time, you don’t want to sell your NFT to buy it. ↔️

This is where Blur Blend comes in.

You head out to Blur and provide your NFT as collateral, for which you get $800.

You can now use this money to buy the Doodh! 🥛

But…

There would be a nominal rate of interest to pay to borrow the loan, as well as a said date and time to pay it back. ⏰

If you fail to pay back the borrowed money by then, your NFT would be confiscated from you (Just like they took my calculator away during my math test 😔)

Will this change the NFT space? ✨

Blur took a revolutionary step towards unlocking liquidity for NFTs. 💯

What’s happening with Blur is similar to how the mortgage industry helped make housing accessible to every average buyer. 🏡

With the help of Blur, it’s easier to buy a Bluechip NFT without having to spend millions upfront. 💰

Buy now, pay later, yet another feature with which you buy a CryptoPunk with just 8 $ETH, and borrow for the rest of the cost. 💵

That’s similar to buying a Lambo with just $20 in your pocket. 🏎️

What do the numbers look like? 🔢

Blend isn’t the first to do it.

It’s the latest in the cast of NFT Finance protocols, all of which have cumulatively processed over $1 billion in loans. 🤯

Since it’s launch at the beginning of this May, Blend has processed over 19,249 Ether ($34.6 million) in loans. 🏦

They currently have 3 NFT collections, and are planning to add more soon:

→ Azuki

→ Cryptopunks

→ Milady

It ain’t all sunshine tho 🌄

One of the ways Blend is able to attract such high numbers is by incentivizing borrowing over lending. 🌊

If you want to lend you are likely going to need to offer extremely favourable

(and in turn risky) terms to compete with other lenders. 👎

Secondly, there is always a risk of defaults when it comes to loans, which could have a cascading effect on other products in DeFi. 🎲

Blur is everything good about NFTs, but is just one step away from every problem as well 🚶‍♂️

Tread carefully my doodhs, and blend carefully! 🧋

🔮 Sam Altman's Crypto Project

AI is getting crazier and crazier!

NOW, it’s hard to even tell the difference between humans and bots. 😵‍💫

But Sam Altman, the co-founder of OpenAI, thinks blockchains can help.

👉 Introducing World App 👈

A minimalist wallet designed to help you prove you're human in the age of AI. 🤖

World App is like that doodh delivery guy who not only delivers milk but also verifies you're a human before serving you.

It’s Worldcoin's latest consumer product! 🌟 

In case you didn't know, Worldcoin made headlines last year for their ambitious vision of a universal basic income (UBI) through 👇

A crypto token distributed equally to everyone around the globe. 🌐

But it was not all smooth sailing... ⛵

Worldcoin's retina-scanning metal "orb" raised some eyebrows…

…and they faced accusations of exploitation and deceptive recruiting practices. 😬

It also faced a harsh expose by MIT Technology Review (now that’s something).

Worldcoin is like the doodh that was spilled, but now they've mopped it up and are pouring a fresh glass. 🥛

🔄 (Re)introducing Worldcoin

Back with the World App! 📱

Or we can say a vision focused on "proof of personhood" with World ID protocol. 🆔

World ID?

Don’t worry, it’s not a way for Sam Altman to spam you through mails.

World ID is a unique digital identification system developed by Worldcoin that aims to prove your "personhood" - if you’re a human or a bot.

FYI, the World App is built on the Ethereum sidechain Polygon.

So, World App is like a sleeker Coinbase Wallet or MetaMask, but deliberately simpler:

• Fewer features 📉

• Minimalist design 🎨

• Limited number of crypto tokens supported (for now) 💱

With support for wrapped, Polygon-based versions of

• Bitcoin

• Ethereum

• Stablecoins like DAI

Here's the catch tho... 👀

Basically, World App has two sides:

1️⃣ For those without a World ID, it's a sleek crypto wallet.

2️⃣ For verified World ID users, it serves as a digital passport for AI-era apps and services. 🛂🌍

Well, not many applications use Worldcoin's ID protocol yet, but imagine a future where it's integrated into

👉 Voting

👉 Social media authentication 🗳️📲

👉 Financial services

For instance, undercollateralized lending in the DeFi space hasn't taken off yet, mainly due to the lack of a reliable identity verification system. 🚀

And here's a little something for early adopters with a World ID... 🎁

They get to transact on the World App without fees! 🤑

Btw, stats for World App’s Beta version are already in! 📊

• Total joined → 1.5M users 🌍

• Daily transactions → ~60,000 🔄

• Daily World ID checks → ~25,000 🆔

• Monthly active users → 500,000+ 📈

Seems like World App's beta version is already a hit in the crypto community! 🎉

Let’s see how the public version plays out.

Now, drink your milk and have a milky day ahead.🥛

📈 Cheese and Charts: Bye-nance $BTC withdrawals

Bitcoin withdrawals on Binance went woosh yesterday. 🦸

Why, you ask, my doodh?

Well, it’s because Binance halted withdrawals, and dropped the classic “Funds are SAFU” yet again. 💀

Every time Binance or CZ has said funds are SAFU on Twitter, we question the quality of that packed Doodh. (That stuff can be shady 😰)

Why did they halt withdrawals? ✋

Binance says they stopped withdrawals to adjust Gas fees on the network for miners 🔨

This surge in gas fees is due to the rise in adoption of Ordinals (ahh shi… here we go again)

Withdrawals were reset within the next hour of pausing ⏸️

But people called 🧢 on the exchange, and started pulling out $BTC

How bad was it? 😨

Here’s what the numbers look like:

• Over 1,80,000+ $BTC has left Binance ↪️

• Pending transactions started being processed with higher fees than usual 🔺

• Adopt back the Bitcoin Lightning network to avoid such 💩 in the future

🛠 Resourcewala: Systems Thinking for Crypto Success

Tired of decision fatigue in the crypto world? 😫

Feeling like your emotions are torpedoing your profits? 💸

Don't worry, we gotchu! Introducing Systems Thinking for Crypto! 🚀

Say goodbye to the chaos and hello to structured success! 🤑

In today's resource, we'll show you the way to:

• Understand Systems Thinking 💡

• Why it's a game-changer in Crypto 🌟

• Kiss emotional decision-making goodbye 😘

Get ready to level up your crypto game and make decisions like a pro! 🏆

LFG! 🔥🔥🔥

🍼 Doodhshots: A CRYPTO-NATION in making

• 🥊 Ripple Rumble: Ripple's tussle with the SEC sets them back a whopping $200M, says CEO Garlinghouse. XRP-ensive, huh?

• 📉 SUI & PEPE Pain: Market woes hit SUI and PEPE hard, both nosedive with double-digit losses overnight. Ouch, that's gotta hurt!

• 💰Web3 Wallet Boost: Artifact Labs snags $3.25M in funding from Blue Pool Capital, Animoca, and more. Ka-ching for Web3's next big thing?

• 🇱🇮 Crypto Castle: Liechtenstein's Minister proposes government services paid in crypto. Time to fly high, crypto-style!

• ✈️ Fee Frenzy: Bitcoin-based memecoins gain traction, causing block demand and fee spikes. Memes to the moon, huh?

🤣 Milky Meme Of The Day

If you want more doodh then, be sure to follow our Twitter, LinkedIn, and Instagram.

That’s all for today folks! See ya tomorrow!

Today’s edition was brought to you by: Ritik Gupta and Sumanth

Edited by: Arvind Krishna and Aakash Athawasya

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 a 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.