💰 Institutions Love This Crypto

Gm, this is doodhwala. We’re your favourite waiter in the Crypto Restaurant.

We know you’re go-to order, your favourite drink and we make sure to give you extras. 🤤

Here’s what we got for you today:

• 😮 DAIs Big News: DAI’s savings rate up to 8%. Here's why it's big!

• 💪 Not Giving Up!: XRPs win 16 weeks ago is attracting institutions

• 📈 Cheese and Charts: The Developers Move!

• 🛠️ Resourcewala: Bitcoin’s Network Effect

• 🍼 Doodhshots: SBF Needs Medication In Jail

🤑 DAI Savings Rate Increase is Big.
Here’s Why.

The MakerDAO ecosystem’s love child DAI is getting some additional gear.⚙️

No, we’re not talking about motor parts. 🚘

We’re talking about the increased savings rate of DAI this week. 📈

DAI just dropped a change that can add massive crypto interest to all folk.

What is this savings rate change? 🤔

And how can it make or break the markets soon?

Time to dive DAI-ve into probably the next biggest boom in crypto.🪂

1️⃣ DAI Savings Rate = 8%.

DAI just gave a big SCREW YOU to all the banks of the USA. 🪛

How?

DAI just increased the DAI savings rate from 3.19% → 8%! 🤯

This means that anyone who holds DAI will be earning an interest rate of 8% in a year.

This move just helped DAI get > $270 million in new deposits overnight! 💰

Just to give you a comparison, here are the interest rates that traditional banks have to offer for every dollar deposited into savings:

👉 American Express = 4.15%.

👉 Discover Bank = 4.30%.

👉 Barclays = 4.35%.

👉 Paypal Savings = 4.30%.

👉 Marcus (Goldman Sachs) = 4.15%

Now with DAI savings rate at 8%— What are the bank bros gonna do? 😏

2️⃣ MakerDAO will lose out on profits. For a while.

MakerDAO seems to be a huge fan of Thanos, coz they’re literally living by his quote:

“A small price to pay for salvation.” 🤞

That’s right, this move by MakerDAO will have a BIG dent in the profits from the business. 💸

Why so?

Simple → Increased Demand = Increased Revenue.

But also → Increased Payouts.

However, considering that there will be a lot of money moving to DAI for that juicy yield — This loss could be short-lived. 😌

Just have a look at that profit estimate drop tho! 👇

3️⃣ Why are they doing this?

This is a gamble from MakerDAO’s end. 🎲

There are a bunch of problems that have led them to take up this move probably.

Just to list a few:

👉 Decreased Stablecoin Adoption.

👉 MakerDao wants to increase its customer base.

👉 They’re losing out to big players like USDC and USDT.

👉 They want to include Raw Cow Milk drinkers to enjoy savings. 🐄🥛

Whatever the reason - They are winning right now coz their Revenue hit a 2-year high of $165 million. 🤑

4️⃣ The Liquidity Shift.

DAI just pulled a Bruh moment on all banks and savings institutions. 🥴

One of the biggest advantages of this move = Attraction. ✨

Considering the 8% interest rate now available to holders. This is just one more move further into getting Traditional investors to explore and understand the benefits of On-chain investing. 💸

Of course, there will always be the stablecoin haters.

The ones who don’t believe they should exist.

Keep talking haters, we’ll keep enjoying our profits till then. 🤫

Doodhwala’s Opinion: The only thing to wait and see is → If there is DAI adoption soon:

• How much will it be?

• How fast will it be?

• Will there be raw cow milk involved?

Answer these 3 hard-hitting questions, then we’ll figure out what next.🥛

❤️ XRP's Getting All The Love

XRP.

The 5th largest crypto by market cap.

It’s getting loved by some really big institutions. 🥰

While Bitcoin has been the only love, XRP is also now racing to get some of it (maybe it’s trying to become a half-girlfriend).

The institutions (the ones who move a lot of money around) have been investing in XRP for → 16 weeks straight!

16 WEEKS! Yes, you heard that right.

This spicy detail came from a report on Monday. 🌶️

Here's a little more to make your jaw drop:

You gotta have a jaw tho. Unlike this guy👇

• Assets under XRP? A 127% increase since the beginning of the year. 🚀

• And if we talk numbers (oh, we love numbers! 🤓), a cool $11.25 million has been invested in XRP since 2023 started.

But, wait a minute…why this sudden love for XRP? ❤️

🗓️ Rewind to 2020: Ripple, the company behind XRP, was hit with a $1.3 billion lawsuit by the U.S. SEC in 2020.

They were accused of playing with investors and selling them something...well, not so legal.

🗓️ Fast forward to 2023: A federal district judge said, ‘Nah, selling XRP to regular people isn't a security.’

But there's a catch: some big sales worth $728 million? Yep, those are securities. 🎢

I know it’s confusing af and that’s why we wrote about it here in detail. You're welcome.🥛

What was the result? 🌈

Most saw this as a win for Ripple and XRP. 🥳

Retail investors, institutions, and Ripple Labs were pretty happy. 🍾

Since then? XRP's price? To. The. Sky. 🚀

To add more fire to it…

Stu Alderoty, the General Counsel at Ripple, hinted that U.S. banks might start using Ripple’s fancy On-Demand Liquidity Service again.

How much more do you want to fall in love with XRP? ❤️

But hey, Bitcoin’s still the big boss.

Institutions invested a huge → $27 million into some well-known funds.

We're talking big names: Grayscale, 3iQ, and 21 Shares. 💼

Doodhwala’s Take:

Keep those wallets thick and those spirits high!

📈 Cheese and Charts: Devs, Devs, Devs!

You know what they say, "Follow the money"?

Well, in crypto, it's more like "Follow the devs!" 🧐

And FYI, they’ve been really busy this summer deploying the s**t out of smart contracts! ☀️

Just like we’ve been busy drinking a lot of doodh this summer.🥛

So, July's contract deployments were like a crystal signal for August. 🔮

• Arbitrum: 12.9K

• Optimism: 2.8K

• Base: 37.2K

These numbers? They're like a movie trailer for what's coming next.

And here’s the deal👇

Base generated even more revenue than Arbitrum and Optimism for the month of August.

• Arbitrum: $1.05M

• Optimism: $1.1M

wait for it…

• Base: $2.4M

Why does it matter, though? 🧠

More deployments = more devs betting on that blockchain.

Well, more contract deployments mean more devs are building on a particular blockchain.

So, who's winning? We think it’s – Base.

It’s leading the pack with a whopping 37.2K deployments! 🥇

The message is clear: devs are flocking to these platforms, and where the devs go, the money follows! 💸

What do you think is driving this dev migration?

(REPLY and let us know 👇)

🛠️ Resourcewala: Getting Into The Network Groove Of Bitcoin?

You know how every party starts slow, and then there’s THAT person who walks in, and BAM!

The floor is LIT? That's how Bitcoin network effects work but for the crypto world! 🎉

With everyone from your next-door Joe to that celeb on TV talking about Bitcoin, it's no secret that its growth isn’t just linear, it’s exponential! 💥

And it ain't just hype – it's network effects, baby.

Today's dope resource gets into:

• What even are Bitcoin network effects? 🔄

• The magic of more users joining the Bitcoin bash. 🎊

• Real-world implications of this network. 🌍

LFG! 🔥

🍼 Doodhshots: SBF needs medication

• 🇪🇺 ETF Approved! : Jacobi Asset Management, a fund house from Amsterdam has launched Europe’s first Bitcoin ETF. Europe - 1. USA - 0.

• 🛡️ Protection Protocols: Binance is seeking a protective order to help with the SEC allegedly conducting a ‘fishing expedition’ in their US entity. We must protect them at all costs!

• 💊 SBF’s Medication: Sam Bankman Fried’s lawyers have informed he will be needing ADHD and depression medication in jail. Not the drugs we expected but okay.

• 😬 Risk Reward: The Federal Deposit Insurance Corporation (FDIC) has highlighted ‘novel and complex’ risks of investing in digital assets for the first time ever. Dog coin go brr.

• 🥷 Another Exploit: Rocketswap faced an $865k exploit after a hacker bridged ETH from BASE to Ethereum. New chain, same old exploit story eh?

🤣 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.

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

Edited by: Arvind Krishna and Aakash Athawasya