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😲 Microstrategy Could Have Pocketed $1.3B if Saylor Had Bought ETH

Hello Defiers! Here’s what we’re covering today:


DeFi Explainers
Trending in The Defiant

The open economy is taking over the old one. Subscribe to keep up with this revolution. Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button below ($15/mo, $150/yr).

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Aave Grants is a community-led grants program, focused on growing a thriving ecosystem of contributors within Aave by funding ideas, projects and events that benefit the protocol or surrounding ecosystem. 

Lumerin is revolutionizing Bitcoin mining with a decentralized marketplace for buying and selling hashpower. Help us test the network in beta and earn real BTC hashpower to sell, trade, or mine. Find out more!

DeFi should be better – and it’s about to get radically better with Radix. Get your free ticket to join RadFi2022 on December 8 and learn what the future holds for decentralized finance. Find out how


DeFi What Ifs

😲 Microstrategy Could Have Pocketed $1.3B if Saylor Had Bought ETH

Defiant Data Crunch Shows Ether Would Have Paid Off Nicely for Software Maker

By Samuel Haig

$4B BET What if Michael Saylor had bought Ethereum instead of Bitcoin? During the bull market of 2020-21, Saylor, the Bitcoin-loving CEO of Microstrategy, made one of the most famous crypto bets ever — he directed the business intelligence software maker to invest $4B in the No. 1 cryptocurrency, according to data from Bitcoin Treasuries.

LOSS Now, with crypto tumbling in a punishing bear market, Saylor’s decision has left Microstrategy with a paper loss of $1.3B. If only he’d bought Ether. 


DeFi + TradFi

🏦 JPMorgan Dives into DeFi After CEO Trashed Crypto as ‘Ponzi’

Lender’s Onyx Unit Executes Live Trades of Tokenized Currencies in Pilot Project

By yyctrader

ESTABLISHMENT JPMorgan Chase & Co., the No. 1 U.S. bank and a charter member of Wall Street’s financial establishment, has gone DeFi. Or at least, one of its blockchain-focused units has. 


Sponsored Post

Become a Goldfinch Member for enhanced yields 

Goldfinch is a decentralized credit protocol with a mission to connect the world’s capital to the world’s growth, with yields generated by real-world lending to growing off-chain businesses, and loans fully collateralized by real-world assets. The protocol has been noted as having one of DeFi’s highest yields for USDC lending, with Investors earning a 7.8%—18.5% USDC APY, and up to 23% est. APY including GFI rewards. 

Now, the protocol has announced Goldfinch Membership: empowering Goldfinch’s Investors and aligning the protocol’s participants with the network’s long-term success. 

Investors on Goldfinch will be able to join a Membership Vault to:

  • Receive yield enhancements via Member Rewards
  • Support Goldfinch’s growth and expansion
  • Access exclusive communication channels and other benefits

Goldfinch’s global network of Investors have already loaned over $100M USDC, reaching over 1M people and businesses via the protocol’s Borrowers across 20+ countries, to earn yields uncorrelated to DeFi’s volatility. Goldfinch Membership is a new opportunity to further align Goldfinch’s Investors with the protocol’s long-term growth. 

Upgrade your participation for enhanced yields from Member Rewards, and own the new global credit paradigm. Sign up for the waitlist today

NFT Deals

🤝 Polygon Scores Deal with Instagram to Support NFT Creators

Distributing Meta’s NFT Toolkit Latest Win for Layer 2 Blockchain Network

By Samuel Haig

NEWS Meta may be cratering in the stock market but that won’t Polygon’s eye-opening deal with the social media giant any less sweeter. Instagram users will soon be able to create and sell NFTs on Polygon, the Layer 2 blockchain with a total value locked of $1.3B, Meta said Nov. 2.


Bridging Protocols

Multichain Says User Funds Safe in Response to Questions

Bridging Protocol Provides Details on Fund Management Practices After L2BEAT Raised Concerns

By Aleksandar Gilbert

QUESTIONS One week after The Defiant reported on questions about the management of user funds in Multichain, the bridging platform pointed toward a blog post published on Sept. 29. Its main message: user funds are safe.


The Tube

📺 Daily Defiant: DeFi 2.0 makes a comeback with “Chicken Bonds”

Podcast Video

📺🎙 100% of DeFi Could Become Illegal

DeFi Explainers

🤔 What Is DeFi Lending?

A Step-by-Step Guide to One of the Most Popular Practices in Crypto

By Rahul Nambiampurath

BANK Decentralized finance (DeFi) is essentially borrowing on a peer-to-peer system without a bank. But how is it possible to have P2P lending without the bank securing the collateral and liquidating it if the loan fails to be paid?



🔗 Are NFT Royalties the Way? How to Build a Sustainable Creator Economy: Unchained

Sterling Crispin, artist and software developer and Holly Herndon, host of the Interdependence podcast, talk about the problems that creators face, some potential solutions, and the debate over creator royalties.

🔗 Web Summit Lisbon, Nov. 2: Latest updates from Cointelegraph’s team on the ground

Web Summit, one of the premier world tech conferences, is back live in Lisbon, Portugal.

Trending in The Defiant

🧑‍💻 ✍️ Stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, and yyctrader, and edited by Edward Robinson, yyctrader and Camila Russo. Videos were produced by Alp Gasimov. Podcast was led by Camila, edited by Alp.

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