✍️ Exchanges — Learn from Mr. Punit

Namaste, this is the doodhwala, the only crypto newsletter that hits as good as the sound “EA Sports, it’s in the game.”

You just said it in the voice, didn’t you?

Yesterday was the first day of FILBangalore, a two-day conference by Filecoin and Huddle01.

We went around with our doodhwala stickers, because we can’t afford t-shirts in this bear market and spoke to some v v cool people. 😎

Here’s a quick recap in case ya missed it:

• Using crypto to save lives

• Wanna get a sweet piece of crypto history?! 👀

• 3 steps to be a Dune wizard

• Milky Meme Of the Day

Let’s get into it.

Exchanges learn from Mr. Punit

Meet Punit Agarwal.

He runs a fund. A crypto fund.

But not a crypto fund that invests in shitcoins cough 3 Arrows cough

Or one that steals money from its exchange partner cough Alameda cough

He runs a crypto — RELIEF — fund.

Relief from Covid-19 (not relief from FTX)

Quick backstory:

When the second Covid-19 wave was wrecking India, Sandeep Nailwal, the co-founder of namma Polygon, set up a Covid Relief Fund.

In May 2021, Vitalik Buterin (the white and lanky version of Sandeep) donated 50 trillion Shiba INU.

50 — TRILLION — that’s with a T.

It’s a trilly, not a billy Donald ffs 🤦‍♂️

The SHIB has since been converted to a stablecoin (because even charitable organizations don’t wanna hold volatile shitcoins in this market).

Here’s how this process works:

• Stablecoins are converted into USD

• USD sits in a bank account in the US

• Donations from the account are disbursed in INR

And everything EVERYTHING is transparent.

Even when it doesn’t need to be transparent.

With the blockchain, transparency is forced. Everyone’s wallet transactions, protocol usage, inflows, and outflows are there for everyone to see if you buy Crypto DickButts, we know bruh 😭

But the CRF is taking the transparency of the on-chain world to the off-chain world.

Everything from:

Crypto holdings — they hold $274 million in crypto including coins like BTC and ETH 🤩 to coins like XRP and DOGE 🤡

You can even check their wallet transactions here, here, and here.

INR holdings — they hold $40 million in their fiat bank account.

You can even check their crypto-to-fiat conversions here.

Here’s a complete list of their transactions:

They’ve disbursed close to $58 million in grants to organizations like:

🥼 Doctors For You — an NGO to tackle malnutrition in underprivileged societies

💪 Janhit Vikas Samiti — a non-profit focused on improving the socio-economy of rural India

♻️ SELCO Foundation — a foundation for research and promotion on sustainable energy solutions.

And get this — 15% of all vaccines in India were funded by the Crypto Relief Fund. 👏👏👏

Phew! 😮‍💨

Punit and the Crypto Relief Fund are literally changing the world.

And I’m sitting here writing a newsletter with memes what am I doing with my life?!? 😭 😭 😭

This comes at a mad important time for crypto transparency.

Exchanges are skirting away from revealing their reserves, like me when my relatives ask me how much I got in my math exam.

Instead, exchanges like Coinswitch are giving out aUdITeD sTatEmEntS.

Exchanges get inspired from Punit and the Crypto Relief Funds and “Show me your Wallets”

Taking inspiration from Punit, we’re gonna start a Crypto Relief Fund 2.0.

Not to fight Covid-19, but to fight the poverty of the bear market. 🙃

If the bear has been bad on you, let us know and we’l send you some goodies to make up for the losses in your portfolio. ❤️

 Wanna get a sweet piece of crypto history?! 👀

We were walking around FIL Bangalore and saw this dude and I immediately went.

1. What

And Arvind turned to me and asked.

1. What

H — A — P — P — E — N — D

Because we met a brown SBF. 😂

And instead of wrecking crypto history, he’s printing crypto history.

One t-shirt at a time.

👇

He’s got upcoming collections as well, like:

“I just want to say, DO, jail is not that bad.”

“The doodhwala is the worst newsletter ever”

😭

Check it out here: downonly.com

Let him know that the doodhwala sent ya 👋

3 steps to be a Dune Wizard

What's the best part about crypto?

We, at the doodhwala, thought it was all about memes cuz crypto has the BEST MEMES! 😂

But we found out about another great thing in crypto yesterday, it's something that gets our man Zuckerberg out of his bed every single morning.

Its DATA. 

In Web2, data is siloed and only the big platforms like Google, Amazon, your mom's favourite app, Facebook and companies like this, own the important data.

And they don't share it with the rest of us that easily. 🤦‍♂️

We gotta pay a HUGE fee for a sliver of data.

But Web3 is all about openness. Your data is my data, my data is yours. 

Everybody can access the data on the blockchain.

The problem, however, is that the data is pretty raw. Only a proper engineer can read it, let alone understand it. 😅

Enter Dune. ⚡️

Dune helps anyone take the raw data on the blockchain and make sense of it.

You can take any on-chain data and make it presentable, just like how you did it with your school History projects on Indian Independence with colours and sketch pens. 🥰

Build cool dashboards like this yourself and share them with the community! 

So here's how you quickly get started and run your first query with Dune:

(Thanks to Susmeet from Dune for a fun workshop at FILBangalore!)

1️⃣ Sign Up

Head to dune.com and sign up for the platform.

It LITERALLY takes 30 seconds. Time it, if you want. 🤷‍♂️

2️⃣ First Query

On the top right, you can see a "New Query" option.

Click on it and a Terminal kinda window opens. Don't be scared. 😅

This is where the MAGIC happens. ✨

So for the first query, let's try to get the data from the FIRST 10 transactions to ever happen on the Ethereum chain.

For that, just type in this simple code on the Terminal: 

This is basically going through all the transactions 

And BOOM! 

You can see the first 10 transactions to EVER happen on Ethereum. 🔥

3️⃣ Explore Dashboards

There are literally TONS of dashboards on Dune. 🔥

And it's all created by the community! It's truly open source. 

You can click on the "Discover" option on the top menu and see all the Dashboards.

And you can also take this to the next level by going through their YouTube and Discord channels and becoming a true Dune Wizard! 

Hey, and also get paid for it! 😉

Dune is definitely one for the community! 🥛

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.