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Protocol of the Week
Axie Infinity.
Axie Infinity is a Pokémon-inspired gaming universe. In Axie Infinity, any player can earn crypto tokens through skilled gameplay and contributions to the ecosystem. While gameplay is the main focus, Axie also functions as a social network and jobs platform due to the strong community and play to earn opportunities. Axie is governed through their native token – AXS.
DeFi Strategy of the Week
Making money by playing Axie Infinity.
The primary difference between Axie and a traditional video game, is its Blockchain-economic design used to reward players for their contributions. This new model of gaming, is referred to as “play to earn.”
Axie Inifinity players can earn rewards by:
- Competing in PVP battles to win leaderboard prizes.
- Breeding Axies and selling them on the marketplace.
- Collecting and speculating on rare Axies.
- Farming for the love potions needed to breed Axies. These can also be sold on exchanges such as Uniswap or Binance.
- Playing the game to earn AXS, the governance token.
Click here to read an in-depth breakdown of earning rewards via Axie Infinity.
Yield Farm of the Week
Farming yield through ArenaSwap.
ArenaSwap is a decentralized exchange (DEX) platform build on the Binance Smart Chain (BSC). The exchange was made to promote DeFi and yield farming through gamification and storytelling that creates an ecosystem that supports the value of their NFTs and native token – ARENA.
ArenaSwap rewards users for their participation in gaming, gambling, or NFT creation in the network with either NFTs or DeFi tokens. The platform manages its ecosystem through a robust combination of deflationary and burning mechanics. These mechanics work to keep their native token growing in price and limiting its supply.
Similarly, through these mechanics, ArenaSwap helps improve the rewards you receive from yield farming. ArenaSwap yield farmers will benefit from this network because the number of tokens will only continually rise in value.
Learn more about using ArenaSwap to farm ARENA tokens here.
News & Industry Updates
1.) Crypto ATM Installations Have Increased Over 70% this Year
According to ATM Radar, 10,037 machines have been installed in 2021 so far. This number already exceeds the 7,620 machines installed throughout 2020.
2.) Maker Takes Final Steps to Become Fully Decentralized
Maker Foundation’s CEO stepped down this week, leaving a DAO to run the protocol in his place.
3.) Vermont is 4th State to Target BlockFi’s Bitcoin Savings Account
Vermont joins New Jersey, Alabama, and Texas in pushing against BlockFi’s interest account.
4.) DeFi, by Definition, Cannot be Fully Regulated
Siam Commercial Bank president, Arak Sutivong, believes DeFi requires a framework for long-term and sustainable interactions with traditional finance.
5.) Deflation is About to Whack DeFi Tokens – is that Actually a Good Thing?
A deflationary token is one where the total number of tokens on the market will decrease over time. This permanent decrease in supply creates the potential for tokens to store value, even through a bear market.
