denze's digest (15 May 2022)
A better internet with web3, Terra drama, DeFi yields
Hi 👋🏻 denze’s digest is weekly-ish series I’m experimenting with. In it, I curate and share the most interesting and useful crypto content I’ve consumed recently
A new essay from Li Jin, one of my favourite writers & thinkers
Web3 Is Our Chance to Make a Better Internet by Li Jin and Katie Parrott. A thought provoking read on the principles we need to agree on, that’ll enable us to build and design an internet that is fair and equitable.
An explanation of the latest crypto drama
Terra: To the Moon and Back, a guest post by Jon Wu on Not Boring. This is the big news of the week - Terra’s blockchain runs on the $LUNA token and has a stablecoin called TerraUSD ($UST). The stablecoin is meant to hold the same value as the USD, but right now, 1 $UST will get you $0.20 USD. Meanwhile, over the past week, the $LUNA token has crashed from ~$70 USD to less than $0.001 USD. And yes, no typos there. Less than $0.001 USD. Jon explains what’s going on. It’s a lot to process though, and I’m still trying to make sense of it myself.
A peek into the world of decentralised finance (DeFi)
150% APR? How Are DeFi Yields So High? by Nat Eliason. So far, I haven’t had much exposure to DeFi, but I’m starting to take a peek. I thought this was a great read on the different types of DeFi yields - or more simply, the different ways people make money / earn rewards through DeFi.
Crypto Rabbit Holes is a space for me to slow down and pay closer attention to what’s happening and what I’m learning in the crazy, fast-moving world of crypto. If you aren’t subscribed, you can do so here: