SHIB (kinda) Killed ETH🐶
Resource of the Week: Airdrop Hunting 🪂
🌞GM Fam! In edition #007 of our newsletter, we will address a particular pup 🐶 that has gone rouge & has been trouble for an entire community (No, we aren’t cracking jokes on a Sunday morning)
We shall also glance over some FUD (Fear, Uncertainty & Doubt 👀) and what it means for the crypto price from a perspective of dollar value.
The Legends of our Legendary newsletter:
SHIB went Rouge??? 🚨
Can’t Buy Bitcoin HERE 🛑
FW3 Research House 🕵🏻♂️
FW3 Resource Hub ✍🏻
Job Seekers Hub 💼
Web3 Events & Networking 🤝
SHIB (kinda) Killed ETH🐶
Now before all you ETH Maxis draw your sword & come for blood 🩸.
Please just pause the (momentary) violence & talk further after inserting our favourite meme below 👇🏻
Okay! Back to violence now.
So this past week, something HUGE happened in the World of memecoins 🌍
SHIBA INU ( yes, the same dog coin that made degens generational wealth last cycle) chose to step out of the shadows & become more than a meme!!! 🤷🏼♂️
The developers are taking the project seriously and Shiba Inu is NOW also a Layer-2 solution!!! Yes, read that again.
So now users can do multiple decentralized stuff with Shiba Inu apart from being degens (Well, that is still a bonus feature. IYKYK). These include:
🔸Bridge
🔸Validate
🔸Delegate
Leaving all of that aside, the shiny new Layer-2 bridge kinda “RUGGED” the users within a few seconds of the launch.
How? How? How? How? (rhymes with Bow Bow)
Well, during the process of bridging assets from the ETHEREUM network to the SHIBARIUM chain… something strange happened. Yes, stranger than the Upside-Down in Stranger Things.
The assets got stuck during the bridging process. Not a few pennies (like our portfolios), but a crazy $1.7 million worth of Ethereum.
Trigger Warning: Before you Shib maxis draw your swords & come for blood 🩸. Read on further.
The developers were quick to respond and blamed the entire fiasco on the users, saying the Shibarium chain got overwhelmed due to the increased inbound traffic & led to the failure of multiple taxations during the bridging process.
The FW3 Take: This is a very normal scenario in the decentralized world and there is nothing SUS about the whole incident. If you go back in time; Solana- a Layer-1 chain that touts itself (or the community does at least) as the Ethereum killer has had multiple network downtimes in the entirety of its existence. Shibarium is a super-new entrant to the scene & would definitely need some time to scale.
Community excitement for the launch clearly showed here and mishaps like this are common or rather, should be expected. So no rugs happening guys (please do not treat this as Financial Advice though)
“Sorry, Bitcoin is NOT sold here” ☠️
Eminem once said- "The SEC (Security Exchange Commission) won't let me be or let me be me so let me see; They tried to shut me down on MTV"
Seems like he predicted the future of Bitcoin’s feelings!!!
The above GIF is what every crypto investor (even with a portfolio down by 95%) feels like when it comes to regulators.
These guys in suits globally are doing some really batsh*t crazy stuff when it comes to curb the crypto adoption rate.
While the SEC has decided to chill with ETF approval till 2024, the UK 🇬🇧 financial regulator, FCA has brought in some roadblocks of their own to the party.
This has forced PayPal to stop offering users the option to buy Bitcoin through their platform for at least the next 3 months. 😭
Even though users can HODL & SELL their current crypto holdings, the option to purchase will cease in October until the FCA “gains more clarity” on the subject (SUS baby SUS)
PayPal plans to resume crypto sales in the U.K. by early 2024, according to an email it sent to its customers.
The FW3 Take: As we spoke about in our last newsletter, Bitcoin ETFs will be delayed till 2024 & now even the shenanigans in the UK will cool down in early 2024.
It’s just too much of a co-incidence that all the dates are converging with the Bitcoin Halving Cycle. Maybe all of it will act as a catalyst for new retail money pouring in at the bull-cycle kick-off or not…(again, This is Not Financial Advice)
FW3: Research House 🔍🏠
Every week we cover the most exciting communities, projects & tools in the web3 realm with research backed by our team. These deep dives try to cover the A-Z of the offering to get our community the right information before they go mainstream. We are not saying it’s Alpha! (But our community believes this is absolute ALPHA 🔥)
Community of the Week: SkyLab
SkyLab is a web3 community that is not only gated but more exclusive than the most famous Michelin Star restaurant in the World.
A community built with the goal of directing Founders, Funders & Creatives. SkyLab takes the entire community game to a whole new level, with engaging discussions, tailored resources & networking opportunities.
Read our deep-dive to learn more about SkyLab
If you are a web3 project founder looking to have an in-depth project research report done by us and featured on our socials & website, please get in touch with us
FW3 Resource Station 📚: AIRDROP 🪂
If you want to be an Airdrop hunter & want to make a few hundred thousand dollars (absolutely possible) by investing anything from $0-$100, then think again.
An Airdrop involves delivering tokens to the wallets of current cryptocurrency traders!
In the past few years, token airdrops from crypto projects have provided insane dollar value to early Testnet users or early-stage platform users.
The reward for being an early supporter sometimes proves to be worth tens of thousands of dollars. 🤑
But there was a recent airdrop in the crypto space that broke all records in terms of $$ value. None other than, the SEI network.
They airdropped a whooping $5 in SEI tokens to users who actively participated and supported the network for weeks.
The community is frustrated at the life-changing sum of money provided by the SEI network.
Some users even completed Facial Scanning & received less than $15 worth of SEI tokens 🤦🏼♂️
Our point is that airdrops can be huge, but investing time as an early contributor JUST to be eligible for an airdrop can prove to be redundant sometimes.
Many projects also catfish users by getting their “potential airdrop” shilled by influencers for ramping up on-chain activity & numbers, later to only disappoint with depositing dust in the connected wallet.
A curated list of Job Opportunities by For Web3 💼
🧑🏻💻Tech roles:
💼 Technical Content Writer: Xalts
🛠️ Proven experience as a Technical Content Writer, preferably in the blockchain industry.
👨💻 Full-time, Bangalore.
💼Front-end Engineer: Xalts
🛠️ Minimum 3 years of software engineering experience, with at least 2 years of React experience.
👨💻 Full-time, Bangalore.
✍🏻Non-Tech roles:
💼Senior Manager, Operational Excellence: MoonPay
🛠️ Deep experience in building operational programs with a focus on operational processes& customer communications.
👨💻 Full-time, Remote.
💼Product Marketing Manager: MoonPay
🛠️ B2B experience within product-led growth as well as B2C Product Marketing expertise.
👨💻 Full-time, Remote.
Join our WhatsApp community here or our Telegram group to access opportunities updated daily 💪🏻
Web3 events for the Networking Game 👾
Location: Online 💻
🔸HackTheUniverse - 25th August | 8PM to 8AM
🔸Blockmeet – Kochi - 26th August | 3:30AM to 5:30AM
Location: Offline 🤝
🔹KrypC presents Blockmeet | Bangalore - 26th August | 4PM to 6PM
🔹Blockmeet | Ranchi- 26th August | 2:30 PM to 5PM
🔹TTD | Decksters | Mumbai - 26th August | 12PM to 3PM
🎟️ Find all these & more upcoming Indian & Global events 🎟️
🌟Godspeed (until Edition #007)
Hey, guess what? We again ALMOST hit our email length with this newsletter. Talk about consistency, huh?
Next week we MIGHT have a name for our newsletter, so keep a watchful eye on that. And if we fail to name our newsletter in edition #008… No worries at all, we will do it with the next one 😁
But what stays consistent is our meeting place: 📨Your inbox. ☕️Every Sunday. 🕰️ 8AM.
Fin.
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