When will there be relief?

What is StarryNift?

StarryNift is an application that focuses on three core substances: gaming, marketplace, and the metaverse. StarryNift provides an immersive storyline and endless customization that supply their players with a social experience they have never seen before.

In Starryverse (their 3D metaverse), players complete tasks and earn rewards such as dance moves, customizable clothing, and other prizes that help boost the user experience. There are frequent airdrops and giveaways to entice new users on board. 

In May, StarryNift raised $10 million from numerous investment groups for further development of the platform. The application was founded by the current CEO, Martha Zhang, who has spent several years in the DeFi and cryptocurrency industry. CoinDesk

StarryNift’s goals is to create an all-inclusive metaverse that attracts all kinds of players creating a great social experience and to have a great time. Coming soon, they intend to release their own token. Once some relief is seen in the market, be sure to look out for these tokens!

For more information on StarryNift, be sure to check out their Linktree.

Have we hit the bottom?

The long weekend continues to bring volatility for the cryptocurrency markets. Bitcoin fell below its 2017 peak, dropping below $18,000 on Saturday. The markets have bounced back since, bringing Bitcoin back above the $20,000 level.

Stability Issues

USDD, a stablecoin  that is a part of the Tron blockchain, has lost its peg to the dollar. The "stablecoin" fell over the past week hitting nearly $.90. The fears of a massive collapse is in question as the Terra Luna collapse started in a similar way.

The Tron DAO has already deployed several billion dollars in order to defend the peg during these volatile times. Earlier this month, USDD lost its peg briefly falling to $.98 but soon recovered. The native blockchain Tron sits at a $5.6 billion market cap with USDD only $700 million.CoinMarketCap

While a collapse of USDD wouldn't be as catastrophic as Terra Luna, Tron still ranks as one of the largest blockchains and would be another major blow to the cryptocurrency landscape.

Solend Controversy 

Solend is a lending platform on the Solana blockchain that has over $1 billion in assets. On  Sunday the DAO voted to take control of a particular account that belonged to a whale with over 5.7 million SOL deposited. In fear of cascading liquidations the team thought it was necessary to take such measures. 

According to CoinDesk 

"Solend governance token-holders who participated voted yea with 97.5% of the vote. The proposal barely cleared a 1% quorum in the affirmative with 1.13% share.

A single yea voter made all the difference: their account was the only reason the proposal cleared the 1% mark."

Plenty of users on social media chimed in questioning the decentralized nature of the platform since such a small number of votes can control so many tokens.