Sup, nerds!

Here’s what you’re getting in today’s edition:

• 💅 This is cool: The little guy can still be a threat in Web3

• 🔎 This seems important: Bad news sandwich (it’ll make sense when you read it)

• 🤝 Partner: The wine aisle is scary. Bright Cellars isn’t.​

• 🔪 Let's dissect this: Who wants to have to pay every time they pick up an item in-game? No thank you.

Terms used in this edition (click for an explanation, or ​ask Web(GPT)3!​):
Web2/3, DeFi, Blockchain, Layer-2, Gas.

💅 This is cool:

New Projects Can Still Beat Out ‘Big Dog’ Incumbents of Web3 (Here’s Proof)

In one sentence: Sui is less than 12 months old, and just became a top 10 DeFi blockchain, overtaking long established projects like Bitcoin and Cardano.

You know what we love about the Web3 space?

The little guy can still be a threat.

You ain’t gettin’ that in Web2! (Can you imagine a scrappy startup dethroning Apple or Google? Not a chance).

What prompted this proclamation? Sui.

It’s a project that we knew next-to-nothing about until this morning, outside of:

1. Its name (which we constantly get confused with the Sei project).

2. And the fact that it was built by the folks working on Meta’s since-defunct ‘Diem’ token.

Now, get this:

Sui is less than 12 months old, and just became a top 10 DeFi blockchain, overtaking loooong established projects like Bitcoin and Cardano.

Here’s where that’s significant, and also where it’s a little misleading:

Sui became a top 10 DeFi blockchain when the dollar value locked up in the project topped $430M — that’s genuinely impressive for such a young project!

Overtaking Cardano in total value locked? Also impressive!

Overtaking Bitcoin? Surprisingly, not as impressive.

Most of the value ‘locked’ in DeFi projects, like Sui, comes from their staking and lending functionality — two things Bitcoin doesn’t natively support.

(So it’s kind of like saying “Nike makes better running shoes than Toyota.”)

Still, all of these things considered, Sui’s quick escalation goes to show that we’re still so early, and Web3 is still yet to be ‘won.’

Can we get a “hell yeah!” and a running chest bump??

(Guys?).

🥇 Want the news before anyone else?

🔎 This seems important:

Bad News Sandwich: Solana Activity Spikes (👍) The Fed Could Tank Markets (👎) ETH Could Double (👍)

In one sentence: Solana price recovers 20% as network activity spikes, the Fed could tank crypto markets, while Standard Chartered projects ETH will 2x by May.

You know how your parents would always try and soften bad news by sandwiching it between two pieces of good news? E.g:

“You can watch as much TV as you want tonight…because grandpa died.

Also I’m not in the mood to cook, so I’ll get you a Happy Meal.”

(No, just us?).

Ok, well it’s a thing — and honestly, it works a treat. So well that we’re going to try it out here…

Good news: after dipping below $80 last week, Solana has quickly regained the $100 mark, as network activity surged in the lead up to the Solana-based ‘Jupiter‘ token launch.

Bad news: strategists are ringing the alarm bells for ‘risk assets’ (aka every cryptocurrency in existence), pointing to the fact that critical data has yet to show meaningful disinflation.

Disinflation that the Federal Reserve needs to see before it lowers interest rates.

(In turn, lowering the interest we all pay on our loans/lines of credit, and giving us all more money to spend on ‘risky’ things, like crypto).

In fact, just yesterday the Fed announced that they would not be lowering interest rates this month. If disinflation doesn’t start to show, and rates aren’t lowered as expected this year — crypto is going to take a hit.

Good news: British multinational bank Standard Chartered has projected that an Ethereum ETF will be approved in May, and push ETH’s price past $4,000.

(Kinda works, right?)

🤝 Partner:

The Wine Aisle is Scary. Bright Cellars Isn’t.

Take the guesswork out of shopping for wine with Bright Cellars.

Just take a quick and easy seven-question quiz to assess your taste preferences, and they'll deliver wines you're guaranteed to enjoy, directly to your doorstep.

Their promise extends further—with their full-glass guarantee, if you don’t like a bottle, they’ll replace it.

The journey doesn't just stop at the bottle; each wine arrives with education to elevate your wine knowledge.

With over 100 varietals sourced from 80 wine regions, you’re guaranteed to discover new wines you love.

No more trying to navigate the scary wine aisle — take the quiz today and get your first six bottles for just $55 ($150+ value).

🔪 Let's dissect this:

Who Wants To Have To Pay Every Time They Pick up an Item In-Game? No Thank You.

In one sentence: Animoca Brands and the layer-2 blockchain ‘Lightlink’ have teamed up to create gas-free Ethereum games.

Web3 gaming keeps taking small steps forward.

Like, this week Animoca Brands and the layer-2 blockchain ‘LightLink’ teamed up to create gas-free Ethereum games.

Which sounds both confusing and inconsequential.

But here's the deal: 

A gaming world where gas fees (aka crypto transaction fees) are not involved, helps lower a big barrier to entry.

(Cause who wants to have to pay every time they pick up an item in-game? No thank you).

Figuring out a way to sustainably subsidize these fees will open the door for a ton of onboarding to the Web3 space, via gaming.

Whether Animoca and LightLink have figured out a sustainable way to cover gas fees, or are just taking one for the team — is unclear.

(Our guess is the latter).

Regardless, this will make the Web3 gaming world more accessible and user-friendly. 

Which we love.

Two enthusiastic thumbs up, right here!

Gas Fees, Explained.