✌️Not one but two rug pulls

Kaisya ho doston! This is your Doodhwala, we’re like that friend who lets you have the last pack of orange Lays while we settle for the red one.

Here are the crypto flavours of the day:

• Not one but two rug pulls

• Nepal’s big crypto bet

• Chach and charts

• Taaza Tweet Of The Day

Not one but two rug pulls in a week

This week we had not one but TWO rug pulls.

And it’s only Thursday.

One in DeFi.

One in Blockchain gaming.

Talking about carpet-bombing the crypto market.

Rug #1: Blur Finance creates a blurrr

Blur Finance is a yield aggregator on the Binance Smart Chain.

They bring together yield farms in one single place and allow you to farm for tokens.

Didn’t get that?

Basically, they make it easy for you to earn interest on crypto with other crypto.

But Blur Finance, didn’t do that exactly.

After collecting over $336,000 (Rs 2.6 crore) in TVL, the protocol poof vanished:

• the website is invalid

• the Discord channel doesn’t exist

• the Twitter account and feed is deleted

They just pulled a Zayed Khan after Main Hoon Na. What happened to Lucky 😢?

The timing of this couldn’t be worse!

Just last week, Blur Finance integrated with Polygon and offered an interest of 4,000%

With APYs like that, as our boy Musk would say, “In retrospect, it was inevitable”

Rug #2: Dragoma gone-ma

At least Blur Finance had a product, a Discord server, and an up-and-running website.

Dragoma had none of this!

This was their playbook:

• Show up

• Use buzz words like - web3, NFTs, tokens

• Launch a coin

• Disappear

I’m serious.

They launched just this week, listed a token $DMA, and scooted!

At it’s peak, the $DMA token was worth $1.78 (Rs 140.7)

Now, it’s worth $0.008 (Rs 0.63).

In total, Dragoma scooted with $3.5 million (Rs 27 crore)

Doodhwala’s take: Rug pulls are bad, but come on.

A. When using protocols — check third-party audits, user reviews, hop in their Discord, and check social media.

B. When buying tokens — check the protocol and look at point A.

Lastly, if it’s too good to be true, it likely is! Just like Virat Kohli lifting an IPL trophy as RCB captain. 🥲

Nepal’s big “crypto” bet

Our best friends in the North are trying to be crypto bros. And no, it's not Russia.

Our relationship with them is still “complicated”.

We're talking about Nepal, the country that everyone confuses for India.

Nepal is now planning to launch its own Central Bank Digital Currency (CBDC).

CBDC is the government’s version of crypto.

It’s like a temple having its own Punjabi rap group to enlighten its youth.

So then…it’s actually NOT crypto.

They are currencies which are created and operated by the government.

Much like the regular currency but it’s just…DIGITAL. 🤦‍♂️

It doesn't have the true features of crypto like transparency and decentralization.

But with all this, CBDCs are seen as a “good step” toward crypto friendliness.

So with Nepal Rastra Bank (It’s not Raasta. Read it again. No Bob Marley vibez) planning to launch the CBDC, it is kind of a good step to more adoption.

They are launching a whole task force to look at the technical side of things and are hoping to consult with the Doodhwala for some epic and hilarious PR (jk).

Nepal will also follow the lead of its frens in Asia and Africa like China, Nigeria and apna India.

India announced plans for a CBDC last year but they have been just messing with our hearts by going back on their OG stance on crypto.

They are like that one crush in high school, who knows you have a crush on them and uses it just to crumble your heart. 🥲

Chaach and charts

We like to slurp down chaachs, but more than that we like to slurp down our chaachs looking at some crazy crypto charts.

And that’s what we got for you today.

Remember ENS?

The domain registering service on Ethereum?

It recorded 3.7 lakh domian name registrations last month! That’s the highest in a single month

Why is this a big deal?

If more people are registering ENS domain names, it means:

• Addresses are growing

• More Wallets are created

• Blockchain activity is growing

You can keep a track of ENS domain registrations here.

For the lulz, we’ve registered this domain:

shriporwarmaraattapattujaisuryanatwarshriramkrishnashivavenkatarajashekharasrinivasnatrichipalliyekeparampirperambdurchinnaswamimuttuswamivenugopaliyer.eth

Y tho?

Because we loved this scene from Dhamaal.

Taaza Tweet Of the Day

That’s all for today janata! Kal milenge!

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.