Daily Crypto Updateย 2022-06-22 Uniswap acquires Genie , FTX loans BlockFi $250M , South Korean prosecutors have banned Terra employees , Web3 components for frontend devs

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๐Ÿš€ Innovation & Launches

CityDAO’s Mission and Key Metric (3 minute read)

CityDAO has moved from a core team to a decentralized guild structure. Its mission is to build the blockchain-native network city of the future. CityDAO will use a key metric called Citizen Time at CityDAO Property to quantify what it is working towards. Citizen Time is equal to the number of citizens multiplied by the number of days at a CityDAO property. The metric will align the DAO around creating a useful network of CityDAO properties.

Timeless launches on Ethereum Mainnet (1 minute read)

Timeless, a yield market protocol, has launched on the Ethereum Mainnet. The protocol lets users boost, hedge, and trade yield. Yield boosting allows users to boost yields from any supported farm by up to 2x. Yield hedging decreases the volatility of earned yields. Trading allows users to speculate on whether yield rates are going up or down. Timeless is permissionless, immutable, and composable.


Guides & Resources

Can @fraxfinance become the decentralized bank of DeFi? (2 minute read)

This Twitter thread discusses Frax Finance’s recent developments. It covers current governance proposals, integrations, launches, and more.

Web3 for Frontend Developers – Getting Started With Moralis Web3UI Kit Library (8 minute read)

This article discusses Web3UI Kit, a web3 front-end library. It walks through how to build a decentralized app dashboard using Web3UI Kit and Moralis React SDK. The tutorial requires a basic understanding of React and JavaScript, a Moralis account, and a Moralis Cloud Server



South Korean prosecutors have banned Terra employees from leaving the country (2 minute read)

Key employees of Terraform Labs have been restricted from leaving South Korea. The travel ban was imposed to prevent the employees from avoiding investigation. It includes even former employees. Terra founder and CEO Do Kwon is currently in Singapore, so the prosecutor’s office is looking to invalidate his passport. Prosecutors are investigating whether Kwon or other Terra employees can be charged with crimes such as fraud.


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