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🚀 Smooth Love Potion Soars 70% in 24 Hours Behind Axie Infinity Update

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GameFi Markets

🚀 Smooth Love Potion Soars 70% in 24 Hours Behind Axie Infinity Update

MOMENTUM Smooth Love Potion, a token earned by playing Axie Infinity, has been a white knuckle ride in recent months. In its latest turn, the token has soared almost 70%,  to $0.034 in mid-morning trading U.K. time. The momentum pushed Smooth Love Potion’s (SLP) market cap to $1.1B. 

CATALYST The token is the highest gainer of the top 300 coins in the past 24-hours as of Feb. 9. The apparent catalyst is a change to Axie’s game mechanics as a part Season 20 update, which was posted to the project’s Substack on Feb. 3. Season 20 makes two major cuts to SLP emissions, which together will reduce daily increases in token supply by 165M, according to the project’s estimations.

CELEBRATED It’s a big moment for Axie. The project is the flagship of the play-to-earn economy and was celebrated for supplementing or replacing people’s income, but even at the $0.03 mark, SLP is down over 92% from the token’s all-time high of $0.40 which came on July 13.



🗳 Gnosis Votes on Whether to Spin Out DeFi Infrastructure Project as Independent DAO 

NEWS In a move that could change the structure of one of the most important pieces of DeFi infrastructure, the community behind Gnosis is voting on whether to spin out Gnosis Safe, its popular multi-signature digital asset management platform.

PROTOCOLS Gnosis Safe supports the Ethereum and Web3 ecosystems. Many leading crypto protocols, including Curve, Aave, and Chainlink, use Safe. The protocol now holds more than $107B worth of Ether and ERC-20 tokens, or roughly 5.1% of the combined cryptocurrency capitalization according to CoinGecko. 

STEWARD “We believe the SafeDAO to be the best vehicle to steward development across the Interface, Infrastructure, and Protocol layers of the Safe project,” tweeted the Gnosis Safe team.


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🔗 Introducing the Nomic Foundation: An Ethereum public goods organization: Medium

Nomic Labs (creator of Hardhat) is becoming the Nomic Foundation, a non-profit organization dedicated to Ethereum’s developer platform, on a mission to empower developers to decentralize the world.

🔗 Nationals, Terra create first-ever sports partnership with decentralized autonomous organization: Medium

The Washington Nationals are proud to announce a groundbreaking partnership with the Terra community.

🔗 McDonald’s and Panera Bread file trademarks for virtual restaurants in the metaverse: The Block

McDonald’s and Panera Bread, two major US-based food chains, have filed trademark registrations to build virtual restaurants and sell other digital assets in the metaverse. 

🔗 Salesforce tells employees it’s working on NFT cloud service: CNBC

Salesforce co-CEOs Marc Benioff and Bret Taylor spoke about the company’s vision for an NFT cloud service, according to people with knowledge of the matter.


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🧑‍💻 ✍️ Stories in The Defiant are written by Brady Dale, Owen Fernau, Samuel Haig, DeFiDad, and yyctrader, and edited by Edward Robinson, yyctrader, and Camila Russo. Videos are produced by Robin Schmidt, Alp Gasimov and Daniel Flynn. Podcast is led by Camila, edited by Alp.

The Defiant is a daily newsletter focusing on decentralized finance, a new financial system that’s being built on top of open blockchains. The space is evolving at breakneck speed and revolutionizing tech and money. Sign up to learn more and keep up on the latest, most interesting developments. Subscribers get full access, while free signups get only part of the content. Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button above ($15/mo, $150/yr)



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