📢 BRAND NEW doodhwala

Namaste this is the doodhwala.

Today, we’re gonna tell you how we started this doodhwala thing.

Basically, Arvind and I (Aakash) wanted to bring crypto to the youth in a different way.

We wanted to fun it up by removing — the jargon, promotion, and complexity.

But most importantly, we wanted a cool name that people will remember, and get behind.

So, we came up with the doodhwala, and I guess it’s catching on.

We bought the domain → doodhwala.xyz (because doodhwala.com was taken up by an actual milk-delivering company that shut down! Smh 😭)

My mother still thinks no girl will marry me because they think I deliver milk for a living. 🥲

Arvind quickly whipped up this logo from a very highly significantly sophisticated graphic designing and visual modulating software. It’s called Canva.

But erryone had one question 👉 WHERE TF is the doodhwala?

They said, “we see the glass bottle, but aren’t you the dudes delivering the milk, aren’t you the doodhwala?”

Huh. 🤨

Damn, they were right.

They told us #DoodhYahanHain but #DoodhwalaKahanHain?

And they had a point.

So, we’re revamping just like:

• Grofers → Blinkit

• Indian Airlines → Air India

• Fair & Lovely → Glow & Lovely

• Cred (Credit cards payment) → Cred (Cred points lottery)

• Doodhwala (with doodh) → Doodhwala (WITH A DOODHWALA)

We’re getting new logo + mascot + crypto meter + market updates + funnier memes (YESS it’s possible!!)

So, here’s our desi crypto bro, the doodhwala:

Give him a 👋

We’re also adding a crypto market sentiment index based on how thin (or thick) the doodh meter is, and the current price of the crypto big daddies (BTC and ETH).

You will see that from tomorrow's edition. (More reasons to open the doodhwala's email errday 😏)

Our socials (Twitter, LinkedIn, and Instagram) will have some v v funny memes with our desi crypto doodhwala. So be sure to hit → follow ← to spread the milky energy!!

Now with the best thing in 2022 out the way, get into today’s news.

Crypto’s worst enemy — The Taliban

Politicians around the world think crypto is so bad and terrorists use it all the time to get money to buy guns and bazookas.

Yeah, even Modiji has called out crypto 🤝 terror.

But this is far from it.

I mean, I can’t really convince my chaachu that crypto is not a scam, imagine convincing an Iraqi terrorist. And buying a cup of chai with BTC is a pain, imagine buying a bullet with it. 🤦‍♂️

Don’t really take my chaachu or chai answer.

Take a real-life one from Afghanistan (that country Rashid Khan is from)

Last year when crypto markets were going 🚀 and we could afford Uber premium XL and a cheese burst pizza, something scary was going on in Afghanistan.

The Taliban (a bad terror org) overthrew the govt. Honestly, the whole thing was pretty dark, but at least we got this funny video.

And this picture.

What tf kinda ice cream is that, and do you get it in Corner House? 🍦

The overthrow sent the country’s crypto community (as well as many other things) to 🚽

Before the overthrow, Afghans all over the world would sent crypto back to their hometown.

After all, it’s cheaper ✅ faster ✅ easier ✅

But the Taliban chopped off the country’s crypto community (like they do to people’s heads 🙊) and declared:

Cryptocurrency = Haram

This caused a massive 🛑 to the country’s growing crypto inflows.

Consider this stat:

• On-chain value received by Afghans in Sep 2021: $150 million

• On-chain value received by Afghans between July - Oct 2021: $70 million

• On-chain value received by Afghans between Nov 2021- Sep 2022: $80,000

That’s an actual fall of 99.9% in less than a year.

Bitcoin’s price on the other hand is down 70% in this time.

The last time I looked at such a drop was when I saw the ratings of the Houseful sequels.

From 🚀 to 💩 real quick.

Damn, this is bad! Very bad.

Not only are Afghans subjected to an autocratic and mean Taliban government, but it’s denying them access to a decentralized cryptocurrency.

What’s worse is we don't even know if Afghans know about a cool crypto newsletter called the doodhwala.

We, the doodhwala, hope the country can get back on its feet and we hope crypto helps you in this resurgence. Don’t worry our Afghan frens, we’ll pour out a cold one for you. 🥛

How much money do Web3 infrastructure projects make?

We have all heard that phrase from that one hustler friend of ours “Bhai, crypto mein bohot paisa hai”

That is technically true.

The total valuation of the crypto market had reached close to $1 trillion during peak bull run.

Back when our portfolios didn't make us cry.

But if the crypto market has that kinda valuation then, how much money are the protocols that are building the infrastructure to facilitate this whole market making?

In a recent report by Messari, they analyzed the Q3 2022 revenue of some of the biggest web3 infrastructure protocols.

Here are some of the protocols that were looked at:

• Decentralized Storage: Filecoin, Storj, Arweave

• Data Infrastructure: Pocket, The Graph

• Decentralized Compute: Livepeer, Akash Network

• Wireless Connectivity: Helium

Infrastructure protocols are like the elaichis in your biryani. You dont realize how important they are to the taste until you make it without it. 🥲

In the report, we found that in Q2 all these protocols made a total revenue of $16.2 million.

But in Q3 it dropped to $5.6 million. That’s a 67% decrease.

Oof. That drop is sadder than the Bollywood box office collection scene.

And the majority (91%) of this $5.6 million was just made by Filecoin and Pocket.

So why is there such a huge drop?

The market is down real bad.

And because of this either most web3 projects have become insolvent or have reduced their overall spending.

Infrastructure projects’ tokenomics and revenue models rely on other projects actively using their products.

When the applications using these products see success and grow, the revenue of the underlying infrastructure protocols also grows.

So until the market recovers, this trend of low revenue generation might very well continue.

And we just have to embrace the suck. David Goggins style. 🥲

Chaach and charts: PoS ETH has FANs!

The biggest thing last quarter was Ethereum’s merge (after the new season of Koffee with Karan ofc!!)

And this saw a 🚀 of ETH addresses.

In Q3 (July - September 2022), the number of unique active users of Ethereum was nearly 17 million.

That’s a 37% increase in 3 months from 12.4 million.

This is:

• the highest quarterly increase since 2019

• the first time in over 1 year that ETH addresses increased on a quarterly basis

Ethereum is bringing more and more users, but what are they using? 👀

Milky Meme Of The Day

If you want more doodh then, be sure to follow our Twitter (@DoodhwalaDaily)

That’s all for today bhaiyo aur bheno! Naale Sigona!

Aakash "Dahi Cheeni" Athawasya & Arvind "Doodh Peda" Krishna

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.