GM, and welcome to RollCall by Rollfi!
Get caught up from the past week in 10 minutes or less:
- Prices swing 😵💫
- Sudoswap bursts onto the scene 🎇
- Other stories from the week 📰
After positive reports on job growth and inflation data in August, crypto prices and the stock market bounced in a positive direction, with ETH eclipsing $1,900 for the first time in months.
Now, as of this morning, prices are on the decline again. However, this time there is no clear reason why.
With the Merge upcoming, various hacks occurring throughout the ecosystem, and crypto bills being pushed through congress, this is a volatile time for the crypto markets.
Users are unsure whether they should hold or offload their assets and institutions may be de-risking ahead of the next Fed meeting.
The coming months will be a telling time for both the crypto markets and the American economy as the Fed tries to tame inflation and tensions grow abroad in Ukraine and Taiwan.
SUDOSWAP GAINS TRACTION
Over the past month, a new decentralized AMM has gained significant traction as a new way to buy and sell NFTs. Sudoswap represents a shift away from centralized exchanges that have happened as a result of the market downturn over the last several months. Here’s what you need to know:
- Sudoswap is an almost completely decentralized exchange, as opposed to current market participants like OpenSea
- The TVL on Sudoswap has gone from $120k to $3M in the span of one month
- Sudoswap pays no creator royalties, which is a topic of considerable contention among the crypto community
- SudoAMM allows any user to become a liquidity provider by depositing their NFTs along with ETH and set automatic buy and sell target prices
HOT OFF THE PRESS
As you've probably heard by now, famed venture capital firm a16z wrote their largest single check for a startup this past week to Flow, led by none other than WeWork's founder Adam Neumann
One of our favorite markets experts, Ansem, published his first newsletter in several months this week. He discusses narratives in the markets right now, what those narratives could look like in the future, and how the markets could react.
The crypto funds that were donated to Ukraine earlier this year have mostly been spent on military gear, including $11M spent on UAVs.
Alphabet, Samsung among 40 Big Companies Investing in Blockchain, Study Finds - Google’s parent has invested over $1.5B in blockchain based companies and projects.
We're confused too. We're here to help decrypt the crazy world of crypto.
- AMM - stands for Automated Market Maker, a decentralized asset trading pool that enables market participants to buy or sell cryptocurrencies
- TVL - stands for Total Value Locked - the amount of crypto staked or deposited on a specific crypto protocol or exchange “locked” in order to provide liquidity to the system
At Rollfi, we're building the payroll & HR platform for the modern workforce.
Our platform can enable your business to seamlessly pay your teams in both cash & crypto. And your company doesn't need to have any crypto to make it happen.
Want to see the platform in action? Click the link below to book a live demo with our founding team. We're super excited to share what we've built and get feedback on how we can improve the customer experience.