🎭 Something fishy going on with MASK

Gm, this is the doodhwala, we’re the most reliable crypto newsletter out there. You can call us the Disprin of crypto.

We’re this 🤏 close to the weekend. So, why not get cracking with the web3 meetups.

Here’s what we got for you:

• Polygon just had its BEST WEEK yet

• Okay, let's talk about MASK!

• Download Solana quick + easy way

• Crypto doodh shots: A Goldman Sachs crypto index?

• Milky Meme of the day

Polygon just had its BEST WEEK yet

We’re calling it — this is Polygon’s BEST WEEK EVER.

Yes, even after Polygon has:

• TVL of $1.3 billion

• Daily transactions of 2.6 million

• Native token (MATIC) market cap of $8.2 billion

BUT what Polygon did this week will make all of these numbers seem like 🥜

In just a matter of days, Polygon has gone from the seedha-saadha crypto boy to the high-five big shot! Like Shah Rukh Khan in Rab Ne Bana Di Jodi

1️⃣ JP Morgan enters DeFi through Polygon

JP Morgan, the largest private bank in the world just made its first DeFi trade.

Here’s what they did:

• JPM tokenized $100k in Singapore dollars

• The $100k was then converted to Japanese yen in a forex transaction

• The bank did this through the lending protocol Aave and the DEX Uniswap on Polygon

This was the first foreign exchange transaction done by a private bank using decentralized finance.

And the entire transfer was under something called Project Guardian sounds like the next IPL team right? Patna Guardians.

After foreign exchange, the next DeFi assignment for private banks (hopefully using Polygon) will be trade finance and wealth management.

DeFi ✅

2️⃣ Meta starts NFT minting on Polygon

META the parent of the largest social network (Facebook), communications app (Whats App) and stalking paradise (Instagram) just launched NFT support with Polygon.

They’re starting off with Instagram because NFTs are jpegs after all

Here’s what will happen:

• Instagram will pick a few “creators”

• These creators will have an “end-to-end toolkit” to mint NFTs

• Creators can list their NFTs directly on the app

And all of this will happen on Polygon first before META begins integrating other blockchains (like Ethereum, Flow, and Cardano lol could you imagine)!

META also said it’ll not charge any fees from creator’s sales and will even cover buyer’s gas fees. 😲

Why is META going with Polygon? 🟣

• Cheap fees: META will not charge fees from sales and they’ll even cover buyer’s gas fees initially

• EVM-compatible: Metamask wallet support is likely there (from the pic above) and since META wants to expand to other EVM blockchains, starting with Polygon is a no-brainer

• OpenSea support: Polygon was the second blockchain OpenSea onboarded. And Instagram will pull NFT metadata from OpenSea so that a creator’s collection on can be viewed on both marketplaces.

NFTs ✅

So, is there any doubt this is Polygon’s best week yet?

The ONLY reason to travel to Whitefield

We get there’s no reason to go travel to Whitefield.

Except one 👉 Metamorphosis 2022.

It’s a conclave, conference, exhibition, amusement arcade, and a party, depending on the time and the room you’re in.

But it's all web3 and crypto! Register here 👇

Okay, let's talk about MASK!

In the past 5 days, a token called MASK pumped by 200%.

So, wtf is MASK?

Mask is the native token of the Mask Network, a protocol that enables sending encrypted messaged over social media sites.

It supports:

🗣 Facebook: If you wanna slip into your school crush’s DMs🐦 Twitter: If you wanna slip into Naval Ravikant, Kunal Shah, or Nitin Kamath’s DMs

Mask has been around since 2019, but its price has gone from $16 to less than $2. And then OUTTA THE BLUE the price jumped with a volume of $700 million 🤯

So, why tf did MASK pump?

It starts with Elon Musk.

Last week, Elon became the owner and director of Twitter.

And he’s got a crypto arsenal behind him in the form of Binance and CZ who invested $500 million in the Twitter deal.

"Coincidently," 2 days after the announcement, Binance launched a crypto index called the — 🐦 Binance Bluebird Index 🐦 .

Guess what it comprises of:

• Binance Coin (BNB) okay makes sense, it’s the native coin of Binance

• Dogecoin (DOGE) okay makes sense, it’s the native coin of Elon Musk’s memes

• Mask Network (MASK) wtf?!?

BNB and DOGE were in the top 10 among the biggest cryptos, and MASK was ranked between 200-300.

So, people saw an opportunity — “If Binance who’s a part-Twitter owner is including this encrypted messaging service (for Twitter) in the Bluebird index, it’s gonna pump.”

And MASK is just MUSK after replacing one letter. 😨

But seriously, there’s something 🐟 going on here.

Take a look at the top-16 wallets holding $MASK:

5 outta 16 of those wallets are on Binance. And they hold 24 million MASK tokens worth over $100 million. 🤨

And 4 outta the five wallets are potentially labeled as “Binance hot wallet” i.e. a wallet owned by Binance according to blockchain explorers.

Something smells rotten and not in a good way like making paneer outta rotten milk.

The doodhwala will keep an eye on $MASK.

Crypto doodh shots: A Goldman Sachs crypto index?

🏦 Binance wants to buy a bank to bridge crypto After spending half a billion dollars on the Twitter deal, CZ and Binance are in the market for a bank

🔂 Fidelity Investments opens the waitlist for commission-free BTC and ETH trading The fin-services firm with ~$10 trillion in AUM is open for retail crypto trading

🇨🇳 Move over MicroStrategy, the biggest entity holding BTC is the Chinese government After cracking down on crypto for half a decade, Xi is a holder himself

📈 Goldman Sachs working on a crypto index? The investment bank teams up with MSCI an index provider and CoinMetrics a data firm to help investors make sense of crypto

🪙 Arbitrum’s transaction activity in October was 62% of Ethereum After the Nitro upgrade and the rumor of an airdrop, activity on the L2 has picked up

Download Solana quick + easy way

You’ve been looking around for months, but can’t find anything.

We get it, and we’ve got a solution.

Here’s a simple free public doc that you can use to install Solana on your system.

This doc is made by our OG friend Akhil, who teaches Python, Solidity, Rust, and a bunch of other languages we no understand. Check it 👇

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.