This Week's Market Brief

Week of 17th June 2022. Here's your intelligence brief on the tokens and markets that are contributing to growth of the Tokenised Earth Economy and relevant to ReFi.

This Week's Market Brief

17 June 2022

Here's your latest intelligence on the tokens and markets relevant to the Tokenised Earth Economy.

Warren Buffett is famous for saying, "Only when the tide goes out do you discover who's been swimming naked." Celsius, a CEX focused on offering clients attractive yields on their crypto by investing customers' money in highly risky DeFi protocols, is basically insolvent and fighting for its life to avoid liquidation. Users have been blocked from withdrawals, and anyone with liquidation risk has to weigh up if they should deposit more money into celsius to avoid liquidation but then potentially lose that collateral if celsius does go belly up. Celsius has around 2 million users and billions under management!

The contagion spread, and the large hedge fund 3 Arrow Capital, which once had over $18 billion under management, is mainly collapsing due to massive use of leverage. Famous for their big wins investing in the likes of Avax, Near, Aave, Starkware, Solana, Polkadot and many more, including Luna. They lost close to $600 million on Luna! 3AC is a massive threat to the markets for further pain. Part of their services to companies they invested in was outsourced treasury management. Protocols are complaining that they have gone radio silent and treasuries are at risk. 3AC holds prominent positions in many tokens due for unlocks soon; expect forced selling. They also hold a tremendous number of NFTs.

The macro-environment is as bad as the crypto markets. Japan is defending the peg of its bond at 0.25% as it keeps printing money while the rest of the world tightens up. The Yen hit a 24-year low against the USD! The FOMC meeting this week added another rate hike of 0.75%, the most significant in 28 years!

Is this capitulation? Are we at the bottom? No one really knows, as we have never had a bear market in crypto at the same time as traditional markets go into recession.

📈Reference Markets over the past week

BTC

The OG of cryptos

-30%

$21000

A bit of hopium as bitcoin hits the extreme basically a fire sale buy zone in the famous rainbow chart - see it here

ETH

The king of Alts

-38.5%

$1090

Eth has taken a significant hit as large liquidations get triggered. Ignore the charts and use this time to learn about L2 transaction finality here!

ATOM

Interoperable Blockchain Chain

-25.8%

$6.52

Read this in-depth breakdown of the key metrics of ATOM - the Cosmos Hub’s native token. 

OSMO

Yield Farming on cosmos

-33.8%

$0.77

On June 20, Osmosis will reduce emissions by a third. Osmosis tokenomics has a thirdening event every year. Will this ease selling pressure?

CRO

Crypto.com 

-33.6%

$0.11

Crypto.com is among those that are busy laying off hundreds of employees during this crypto slump. Many are saying that the crypto winter is happening already.

JUNO

Smart-contracts on IBC

-29%

$2.47

If you are looking for a new home for JUNO delegations, Silk Nodes is coming online with a $JUNO validator

📊Impact Markets over the past week

REGEN

Ecological State Ledger

-23%

$0.23

Catch Up on this Regen Foundation Twitter Space, where they discussed Rights of Nature in governance and decentralised decision-making.

IXO

Internet of Impact

-24%

$0.07

ImpactDAOs are coming to life on Mainnet! Read all about their 4th launchpad candidate, Yoma Africa

EWT

Energy Web Token

-19%

$2.46

Read this update on their ReBeam project, where EV users can take their energy provider on the go.

BCT

Toucan Protocol: Base Carbon Tonnes

-4.2%

$2.02

On-chain weekly carbon stats was a total traded of $2.02M and a total of 210 tonnes retired.

CELO

Seigniorage stablecoins collateralised by crypto and natural assets.

-30.9%

$0.86


On June 23rd, watch their Kuneco community call, including ReFiSummer updates with Climate Collective as well as new project launches and a Paris CeloSalon sneak peak. 

DOVU

Connecting crypto users with inspiring farm projects across the planet. Moving carbon from the sky into the soil.

-33.3%

$0.006

Dovu is a partner of KlimaDAO, helping people calculate and offset their carbon footprint.

📉DAO Shares over the past week

ℹ️ Remember that DAO’s with a rebase mechanism should be valued on their treasuries, and market cap increases are a more important metric than token prices, as high yields try to outpace price fluctuations.

KLIMA DAO

Carbon Credits as its treasury

-9.2%

$3.50

Treasury:

18,230,252 TONNES CO2

wsKLIMA = wrapped staked KLIMA. Wrap your sKLIMA here. Unlike sKLIMA, your wsKLIMA balance will not increase over time – but the rebase rewards are exactly the same (# sKLIMA = wsKLIMA x index). You can always unwrap wsKLIMA for sKLIMA.

Olympus DAO

The largest DAO built on Ethereum

-25%

$13

Treasury:

$236 million

Have you read their action plan yet? It’s a 12-month plan for how they will achieve their goal of becoming web3’s premiere decentralised reserve currency.

Gitcoin DAO

GTC - Platform to find meaningful open-source work

-25.2%

$2.46


Gitcoin has crossed 200k contributors, with only a week into GR14. ReFi Summer is in full swing!

PrimeDAO

DeFi Tools DAO 

-27.3%

$0.26

They are partnering with Symmetric to create a flourishing Launch Program on Celo tailored for ReFi and Celo-native projects. Pre-register here.

Popcorn DAO

-2.4%

$1.03

They have identified more than 1,300 beneficiaries they plan to work with. Be sure to follow them for regular updates. 

Earth State Opportunities

  • Get Whitelisted for EarthFund’s first cause here.
  • Get an Airdrop: Stakers of Osmo, Evmos and Juno can now claim the Diffusion airdrop. Head over to claim.
  • Join PrimeDAO, rate tokens, up your tokenomics game and earn!
  • Stake USDT/USDD on Tron and earn over 40% while the TronDAO defends the peg. They have deep pockets but this is a risky play!
  • Play the popular wordle game on web3 and win $50 in Matic!
  • Lend to off-chain companies in the real world using DeFi using Maple Finance. Earn sustainable yields at around 9% on USDC! This is a huge narrative.
  • Apply for a grant through Toucan, supported by Coinbase Giving, if you’re working on a project that supports carbon supply or utility or makes ReFi accessible to more users.
  • Trade: Hodl an index fund of BTC, ETH, LINK, and 50% stablecoins on GMX Protocol on Arbitrum and earn 18% yield paid in ETH!
  • Give: Gitcoin Round 14 is live; check out some really interesting projects here. Pro tip: many of them are tokenless - airdrop, maybe?
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What are the Impact DAOs and Tokens you want to see included in the Earth State Market tracker? Get in touch to let us know!

🌍 For the Earth!

Earth State change is unstoppable, and so is the evolution of the crypto market!

Join the weekly Earth State Twitter Space every Tuesday at 15:00 UTC, where we discuss what's moving in ReFi and the Tokenised Earth Economy. This week, we'll be talking to John Richardson from Ethelo.


This article is strictly educational and is not investment advice or a solicitation to buy or sell any assets or make any financial decisions. For tax advice, talk to your accountant. DYOR – Do your own research.