🤑 Have You Checked Your Stimulus Check?

🗞 Market commentary.

GM Pandorians, hope your wallet still isn’t 404d.

In addition to the swift return of complete on-chain degeneracy to Ethereum, we’re now enjoying (as predicted in the last issue) a Bitcoin bounce. Be wary, though: if this price action isn’t rejected during the next 3-5 days and BTC maintains above 46, we are moving upwards, simple as. 

As the oh-so-feared GBTC selling pressure diminishes, crypto funds welcome back a solid $700 million of inflows. It’s not just us who are relishing the return of the pump, we are surely joined by BTC’s top man, Saylor, who purchased another stack of 850 BTC and also newly re-elected president of El Salvador, Nayib Bukele.

Some are chilling, some are sweating – this week, it’s especially the TradFi whales in China. China’s CSI Index 1000 was down a massive 21% on Monday, just to be somewhat stabilized by President Xi’s order the day after, as he jumped into full damage control debate with regulators. Chinese printer is most likely working overtime right now, as is traditional in boomer markets, if problems occur. Might be good for BRC-20, though, remember the Chinese grandmas going full degen? 

On the other hand, the crypto world sits more on the chill side this week, even though Solana community had to endure a little sweat during a 4% dip caused by a network outage. ETH heads are finally shaking off their inertia as they look forward to March’s EIP-4484 upgrade and also by liquid staking mentions found inside Ark Invest’s new ETH ETF application.

Additionally, we discovered that Metamask is partnering with RobinHood, learned about nearing StarkNet airdrop, Wormhole airdrop, enjoyed a nice Dymension stimulus check, and learned about Abu Dhabi building up a new crypto infrastructure.

All the while USA records unprecedented levels of debt across virtually all financial categories. It’s a weird age we live in, friends, better make the best of it.

🤓 In today’s email.

• Degen corner. It’s 404 Season

• DeFi insights. 26 unmissable insights

• ICYMI. Emergency 404 podcast, new Shitcoin Church and more 

• Tweet of the day. Pentoshi doesn’t miss

• And finally. L2s you don’t want to fade

🔥 Degen corner.

It’s 404 Season

Oh, you thought we were going to be talking about something other than ERC404? Absolutely impossible at this point. 

If you haven’t read the earlier than early blocmates research article, start there. We’re going a level deeper. Most importantly, be careful, everything, including Pandora is ultra-fresh, properly degen stuff. Always use GoPlusSecurity to check contract safety. With that said, how do we hop on this train that seems not to have breaks?

Many participants agree the safest way is simply hopping into Pandora itself. As the first mover, its holders should be receiving perks, offers, whitelists, or airdrops. Then, except blocmates, you simply must follow dragos. This chad (along with us) was first on Friend Tech, then Pandora, and will be on something else again in the future.

As for the projects themselves, they are literally popping up like shrooms after rain. This is where one must be extra careful, but also where the next season of opportunity lies. After debating whether to share a list with you here, I decided it’s simply too dangerous (although, check the link below, as you can find a little help in our Buffet and Buffet chat).

What’s crazy here, though, is that this new meta is starting to be dominated with Chinese market participants, similar to BRC-20. Two accounts to help you catch up on the Chinese side (we all know how much the Asian world loves randomization and boxes):

• https://twitter.com/BTCdayu

• https://twitter.com/followin_io_zh

👀 DeFi insights.

The important bits.

• Cielo (DeFi) - Introduces Cielo web-app - read

• Thales (DeFi) - Expansion to ZkSync - read

• Persistence One (LSTFi) - Announces restaking for Cosmos - read

• Aurelius Finance (Lending) - Incentives are live on Mantle - read

• Pandora (ERC404) - Partners with Vector Reserve - read

• Balancer (DeFi) - Introduces ve8020 locking standard - read

• Magic Eden (NFT Market) - Announces NFT alliance - read

• MODE (L2) - Announces Phase 2 with Intetract - read

• Fjord Foundry (Launchpad) - Teases airdrop - read

• Pryzm (DeFi) - Announces stakedrop for DYM stakers - read

• IPOR (DeFi) - Launches on Arbitrum - read

• Protectorate (NFTFi) - NFT capsule release nearing - read

• Lyra (DeFi) - Launches reward season - read

• Metis (L2) - Announces liquid staking blitz - read

• BRC20 (Ordinals) - Plans to release real yield vaults - read

• Vector Reserve (LPD) - Expands partnership with Peas - read

• Gellato (Rollups) - Announces Layer Zero integration - read

📰 DeFi news.

Even more important bits.

• Ethereum WIF exposed as insider grift - read

• Solana chapter 2 mobiles reached 60,000 presales - read

• Judge ordered Ripple to hand over financial documents - read

• SEC delayed ETH ETF once again - read

• Ramp starts ID-free crypto onboarding to boost adoption - read

• ENS plans to build their own L2 - read

• Fidelity allocated BTC into all-in-one conservative ETF - read

• Maxine Waters: “Stablecoin deal is very close” - read

• South Dakota passes anti-CBDC bill - read

🫠 ICYMI.

Life gets busy so here’s what you’ve missed.

Find all of it on blocmates.com and media network →

🐥 Tweet of the day.

Pentoshi hit the nail on the head with this, as usual anyway.

🦍 And finally…

L2s. EIP-4884 is just behind the corner. What to focus on? Farming MODE might turn out really profitable as it’s an advanced native yield layer 2 (+ you can get instant 10,000 points if you mint a Degenscore beacon). Also, the long-awaited Fraxtal L2 from Frax Finance is out, and it’s a biggie. I highly recommend digging into this thread. Happy point farming!