At LimeChain we hope that all is well for you and your close ones in these crazy times. Been a rocky couple of weeks, filled with hysteria, panic and a lot of noise. While you scroll around all of that, we wanted to take a different approach and share a letter of positivity. Every challenge presents an opportunity for growth and this is no different. What’s more, in the blockchain community there is a bunch of positives to be singled out.
It’s a great time to learn and share knowledge
With everybody (hopefully) working from home, there’s never been a better time to research, learn and share knowledge. Over the next month or so, we’ll be hosting a bunch of webinars on topics such as Smart Wallets, dApp Trends and Smart Contract Security in collaboration with other great teams. We are also super excited about the opportunity to learn from all the content being put out at the moment.
Events are not canceled. They’ve just gone digital
We know the most valuable part of the blockchain community is all the brilliant people in it. We love catching up at conferences, sharing knowledge and laughing together. Thankfully, that’s not going to change as a bunch of the events we’ve been waiting for are going digital, like Ethereal New York and Consensus. What’s even more amazing is that there are tons of meetups happening virtually, organized by community catalysts such as DAO Fest, Meta Cartel and BerChain.
Funding is not slowing down, neither is progress
One would think that in times of worry, VC funding would decline. So far, that hasn’t been the case. Our friends at Argent just raised $12M led by Paradigm while Bakkt raised a whopping $300M. The bottom line here is that if the project is good enough, there’s always funding available. In a non-funding related event worth mentioning, Celo just launched their Alliance for Prosperity, with 50 founding members pledging to support financial inclusion, among whom are a16z, Coinbase Ventures, GSMA, Wyre and many others! Another exciting event over the last couple of weeks was the launch of ErasureBay – a decentralized information marketplace which looks and works great!
DeFi has now been stress-tested
The recent volatility in the crypto market resulted in the accumulation of protocol debt for MakerDAO and the DAI stablecoin, essentially the backbone of decentralized finance. Through a decentralized recapitalization process, community members such as Paradigm and Dharma, among many others, are participating in an auction of MKR tokens which will help preserve stability. Maker has further voted on onboarding USDC as a collateral to further reduce risk. The speed at which all of this happened is nothing but remarkable and a testament to the community.
Black Friday for crypto
Prices falling down has its silver linings. You can own your favorite cryptocurrency at a much lower price. This allows you to get cheaper ETH/EOS/AE etc for your dApp transaction fees, or just to HODL them and earn some bucks in the long run.
That’s all for now, hope this letter has brought a positive note. Stay safe and let’s use the opportunity to grow together!