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#DeFi Daily 11/03/22

#Bitcoin pulled back on Thursday, falling by 8.54%. It found support below the key $39.5k level. Price retested the downward channel which it broke out of on Wednesday during US trading hours.

Read more: ๐Ÿงต๐Ÿ‘‡ BTCUSD Graph
#Ethereumโ€™s $ETH has hit through the trailing stop loss at $2577 yesterday afternoon. We suggest observing retest of the $2350-2550 base area + trendline since Feb 2021 on a daily chart which also serves the lower bound of the wedge.

#DeFiTVL sits at 200.6b today as it has remained relatively flat throughout the week. Overnight, there were more rotations out of the #Fantom ecosystem, driven by outflows from #Solidex and #Solidly.

Read 7 tweets
Yesterday, users flooded to #Fantom for the launch of @AndreCronjeTech's @solidlyexchange.

After months of skirmishes, the #veSolidWars were officially kicking off and the excitement was palpable.


My attempt at a recap. ๐Ÿ‘‡๐Ÿงต
Quick Background

When @AndreCronjeTech announced his new AMM Solidly, he distributed ownership to the top #Fantom protocols as ranked by TVL.

This ignited a battle for control that eventually coalesced into a struggle for control between two teams: @SolidexFantom + @0xDAO_fi
As the day began, we heard from the holdouts...
๐Ÿ‘‰ @SpookySwap would remain neutral
๐Ÿ‘‰ @SynapseProtocol would delay / go solo for now
๐Ÿ‘‰ In the final minutes, @fraxfinance joined #0xDAO

That increased @0xDAO_fi's lead at 40% to @SolidexFantom's 33.7%.

Victory? Not quite. Image
Read 12 tweets
Sick of reading about real wars? You're in luck!

The war for control of @solidlyexchange (#veSolidWars) has continued to rage and I've got some big updates.

TL;DR: The next 48 hours will be huge and there are rumors of a second front soon opening. ๐Ÿ”

Why the next 48 hours?
๐Ÿ‘‰ @solidlyexchange emissions start tomorrow
๐Ÿ‘‰ Same deadline for veNFT deposits on #Solidex
๐Ÿ‘‰ @SolidexFantom is expected to launch
๐Ÿ‘‰ Clarity on @0xDAO_fi's launch plans coming soon

Then the battle for control of #Solidly truly begins!
So what's new?
๐Ÿ‘‰ @RadialFinance confirmed solo
๐Ÿ‘‰ @SushiSwap looks to be solo
๐Ÿ‘‰ @SynapseProtocol has a proposal to join #0xDAO
๐Ÿ‘‰ @Spirit_Swap + @fraxfinance still TBD

And all 8 veNFTs of #Solidly's early partners have just been deposited / locked, cementing the alliance.
Read 16 tweets

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