Weekly Review
Bear market continues. Confidence is low. Fears of national recession hover. Interest rates are jacked .75%. Bitcoin teeters at $20K. Will Ethereum go into 3 digits? Will the Luna Terra debacle result in a domino effect, wrecking the crypto industry? War in Ukraine continues. Tensions mount between dominant nation-state players on the world stage. Are we in the midst of a Black Swan event?
Maybe we need a new civilization? Hmm…
Here at CommDAO, it is the perfect time to join and begin actively building out our organizational infrastructure. There is much to be done. DAOs are complex entities! We need your help. Despite all the bad signs surrounding the world economy at the moment, there is a lot to do for those who prefer to work rather than fret. During periods of uncertainty and dissolution, there are great opportunities to construct something innovative!
This week we continue to develop another directory of the Ravencoin Ecosystem by focusing on Mining Pools. Based on Humble Miner’s map and available links within Raven Core, I was able to find 17 active pools currently offering the ability to mine RVN. The 18th, BSOD has just announced that it is closing in two days. Our directory will continue to be unique as we will input a variety of copy and info helping newcomers understand the larger context of Ravencoin. This is what “Community” is about, adding that extra human support layer onto technical processes that may seem strange to outsiders who we would like to attract.
On the NFT exchange front, we are sad to say that one of the available NFT exchanges is shutting down. Ravenmint will no longer be functioning after 6/30/22. Here is a clip on that and getting your NFTs off of their site.
Also, as always, our friends at BRIKbc continue to put out stellar podcast content on Ravencoin and Real Estate Tokenization. Here is an excellent twitter space with guest speakers Tron Black, the lead developer of Ravencoin, and LSJ, a leading Raven Angel. You won’t want to miss this one!
Over in the Alterverse, our partners spent time at the Vivatech conference in Paris this week. Partners continue to line up and we are receiving phenomenal glimpses of what owning a shopfront in Sky City will be like.
And a 2nd episode appeared from AVTV! In this clip, Community DAO receives an honorable mention at approximately 1:12-1:25. Danny says, "Along w/ Community DAO, who have created a massive skyscraper in Sky City w/ genius initiative to sell each floor as an NFT. Now, that's the type of creativity we like to see."
This plan to sell floors as NFTs and fractionalized real estate is part of a larger mission. And we are excited that this seems to be the first experiment of its kind in fractional real estate tokenization within the Metaverse.
Perhaps we can broaden our scope of what is possible by going back to that dream of a New World…
Imagine creating a decentralized planetary civilization as a thought experiment. Let’s say the motto for this civilization was basically, “Consensus Over Control.” At the very least, you might need some easy way to ascertain feedback from every participating individual, in order to develop this so-called “consensus” on policies and initiatives. Borders and obsolete models of governance based on the nation-state paradigm would have to be jettisoned for a method that was more universal and indeed, simpler. The foundation group body would be something closer to “The Community” and everyone in the world could be a part of it.
So, then, the next question might be the form of monetary circulation and property exchange. What if we conceived of a token system that could cover approximately the entire population of planet Earth? There would have to be at least 8 billion of these tokens, roughly the current world population, ensuring that everyone could theoretically have a stake. Then the token itself would have to have some properties embedded, like, for instance, a communication channel so that complex interactions involving language could be extended across the world. There should also be a way to store documents of authenticity like contracts, deeds, and titles within these tokens. Even beyond that, the token could also be a representation of various assets that people own. By translating that value into the token, a worldwide economy could evolve. Finally, by enabling holders of the token to vote, we would establish a new planetary form of governance, on the DAO model, where much of a former bureaucratic function can be handled by automated smart contracts. Then universal peace would ensue, and the good guys would have won!
That is what we are driving at with the development of C0MM/CLUB on the Ravencoin blockchain. The RVN protocol and token capacities match exactly the aforementioned categories.
And how could we ensure decentralization? Well, that is a more complex discussion but we could start by making the joining process an anonymous one, while simultaneously maintaining public transparency. No one knows who exactly is in C0MM/CLUB or how many tokens any one holder has accumulated. Proposals are advanced and voted upon through the interaction of RVN addresses.
The primary concern remains how to offset a numerical majority monopoly when other diverse interests or voices are constantly overwhelmed. The answer to that dilemma is to have another governance body composed of the most meritorious contributors, developers, and founders. And then we require the 2 bodies to be in agreement before the action of a proposal can go into full motion or in order to stop that motion. This way the harmony of the system is a prerogative higher than any one objective.
Enjoy the rest of Commlink this week!
Over and out,
Dow Dao
Stats
Twitter Followers: 1,141
Discord Members: 420
Alina’s Alignment
5 Benefits of Using NFTs in Your Business
Non-fungible tokens (NFTs) are a new type of blockchain token that is unique and can’t be duplicated or substituted. These digital assets have many potential use cases, from gaming to supply chain management. NFTs have been gaining popularity recently. In this post, we’ll explore why NFTs are becoming so popular and the top benefits of using NFTs in your company.
Why are NFTs becoming popular?
Each NFT represents something unique that doesn’t exist anywhere else in the world. One NFT might represent ownership of a piece of artwork, while another might be a token that grants the recipient access to a music festival.
NFTs are becoming more popular in business due to their versatility. They can be used to solve a variety of problems, from raising funds for a cause to creating a new way for consumers to shop or stay connected with their favorite brands.
For example, NFTs give companies the ability to raise money from investors who want to support their projects. This eliminates the need for centralized institutions like banks or venture capitalists, which can make it difficult for small companies or startups to get funding.
Authenticity
A major benefit of NFTs is that they are tamper-proof. Since the blockchain records all transactions, it is impossible for anyone to change or alter data about an NFT once it has been recorded on the blockchain. This means that any NFT you receive can be verified as authentic by checking its history on the blockchain.
NFTs can be used as unique identifiers for customers, employees, or even pets. This can help make sure that no one else can claim ownership of something that belongs to you.
Authenticity is an important factor when you're selling or buying collectibles online. Buyers want to know that what they are purchasing is genuine. If you can see that an item has been verified by a third party, then you know it's not a fake.
Access
NFTs can be used as an access token for membership in a club or event. They can also be used as keys to unlock content or even as tickets for travel or entertainment events. For example, if you attend a concert with an NFT ticket and lose it, the venue could issue you another one at no additional cost.
Digital scarcity
One of the biggest problems with digital goods is that there's no limit on how many people can have them. If you sell an ebook, anyone can buy it and download it onto their computer. This makes it hard to charge more than one person for the same item, because sharing it is easy and saves money.
However, if you give each ebook a unique ID number, then you can ensure that only one person owns each copy of the book. The ebook will be impossible to duplicate, and people won't be able to pirate or share copies freely.
Tracking
NFTs are tracked using blockchain technology and can be traced easily. This provides accountability for businesses and allows them to track what products customers are buying in real-time. It also means that if a product is stolen or counterfeit, it can be tracked down quickly by scanning its unique code using a smartphone app.
NFTs eliminate the need for traditional systems like Excel spreadsheets or inventory software, making inventory management more efficient and accurate.
NFTs can help build trust between customers and companies by providing greater transparency about how products are made and distributed throughout the supply chain.
Licensing
NFTs can be used to manage licensing and intellectual property rights, where a single token can represent a person’s right to reproduce and use a given item. For example, if you own the rights to a song, you would create an NFT for each copy that gets sold and then register those tokens in an on-chain database that tracks all sales activity for your music. This way, everyone knows exactly how many copies are out there and who owns them at any given moment.
Conclusion
NFTs are a unique, exciting way to manage digital goods and assets. They can be used as a token of access, as a way to verify authenticity, or to manage supply chains in a more secure manner. There are many advantages to using NFTs in your business, but they can be difficult to implement. Make sure your business is prepared to use NFTs and that you choose the best strategy and platform for your business’s needs.
Danoskie’s Developments
Alterverse and Sky City Metaverse
The emergence of Alterverse and Sky City Metaverse has been the news of the day as they appeared on the top 14 selections of the Binance incubation program.
For Sky City, it will be the central hub of the AlterVerse where users would be able to buy land, build, shop, socialize, gather resources, craft NFTs, buy, sell, and trade, and Play To Earn in many ways best known to them. It does not stop there. Companies and organizations would be permitted to make use of available event centers for many varieties of programs which could range from one-on-one meetings to large conferences as there are many companies and organizations like The Community DAO which are ready to make halls and rooms available to contain such events at all times.
On the other hand, Enjin.io explained Alterverse as an open, interconnected, and decentralized metaverse experience, with collaborations and partnerships across NFT games, blockchains, crypto platforms, retail and eCommerce brands, DAOs, NFT artists, and more.
In process of helping to increase mainstream crypto adoption globally, Alterverse was featured in Binance Labs Incubation Program season 4 which showcased the most promising blockchain projects worldwide. It is a great sign of better days to come and a brighter future for all Alterverse prospective users.
According to Enjin publications, the AlterVerse team has quickly expanded to 20+ members and is proudly incubated by Altcoin Buzz Labs.
The game continues to get bigger day by day and more companies have already planned on being among the beta testers of the Alterverse program.
Finally, AlterVerse will be among the best free-to-play, play-to-earn (P2E) metaverse gaming experiences for all who join its train.
Winding down to the most anticipated program of the year 2022, the beautiful Sky City Metaverse, where The Community DAO's CommTower would be located in the main plaza, is in a great position to meet the goals and aim of the project.
Sky City is believed to offer many attractions, such as:
An EpiCenter central hub, filled with shops, skyscrapers, event halls, and more
Modern homes, luxury apartments, and high-rise condos
A Club Sky City, where you can dance the night away
Stadium for live battles, sports, concerts, and other events
The Marina and Yacht Club
The Renowned NFT Art Gallery
The Arnold’s Diner (50’s style restaurant) to grab a bite to eat
Jet-powered Sky Cars for flying from HaloSphere to HaloSphere
Speedy hover vehicles, hop in and drive around the track
Challenges, quests, and mini-games galore
The game is currently in closed access, preparing for token launch and public beta launch in the second phase of 2022.
Consisting of 17 massive HaloSpheres, Sky City has grown into a sprawling metropolis.
According to Sky City, the ecosystem would be a free, virtual city, similar to Decentraland or the Sandbox, but with a lot of game play and live building incorporated. Players will spend countless hours playing and shopping in this exciting, bustling city environment. Sky City will feature full Day/Night cycles and weather transitions. These will be fully customizable and include the male and female avatars and built-in voice chat.
Official Coin of Sky City
The Sky City Official Coin will bear the face of MrNiceGuy. MrNiceGuy was one of the earliest pioneers in the AlterVerse and helped fund the development and building of the first Sky City on Aureus.
MrNiceGuy will be remembered throughout time for the great contributions he made to help make Sky City the shining example of what mankind can accomplish when they work together. The Sky City Coin was the first coin made for localized commerce between the great Disrupter ships and Sky City.
What should happen in Sky City?
Sky City is going to be the home of games and adventures, challenges and rewards. Yes, gamers would be rewarded for spending their quality time in the Ecosystem and would have access to merchandise of different organizations and companies, such as The Community DAO, which offers its floor for events through the use of its own NFTs.
The gamer’s stakes are real in Sky City, making the competitions more meaningful.
Experience the exhilaration of racing the sleek Violators on the track inside Sky City. Fly a ‘Copter high above the cloud-shrouded planet. Time will fly, and so will you! So get ready for the greatest event on earth.
Stay alive the longest and earn a place on the leaderboards in the central Demolition Pit. Really cool for the getters.
In Sky City, the central hub features nearly 40 retail shops and apartments that will go up for sale soon.
At the north end of the plaza, a well-appointed City Hall has been built already, that is where the soon-to-be-elected City Council will hold meetings to promote tourism and plan the use of land. On the opposite side of the round plaza, you will find Club Sky City, a members only hot spot for dancing and music. I hope to see you there.
The large 3-story NFT Art Gallery is on the east side and an NFT game skins shop is on the west.
There are other things you can do in Sky City. They include:
building your own home or purchasing a shop
mixing and mingling or dancing the night away in the exclusive Club Sky City
exploring the many shops and purchasing real-world items
shopping for or displaying your NFTs in the huge NFT Art Gallery
meeting new people or inviting your friends to join you
We are The Community DAO and we will have our CommTower located at the Sky City main plaza, a place to sell our merchandise and pleasurable apartments for your events and meetings.
Our CommTower would have many floors ever ready to accommodate as many Alterverse users available.
We are here for the best and nothing else.
Non-Fungible Fungi 🍄🍄🍄
How to Do Your Own Research (DYOR) on a Web3 project
DYOR: Do Your Own Research is a common term thrown around in the web3 space. Everyone tells you to DYOR but how? How do you DYOR? In this article, we’ll be giving you the basic points for you to build upon to begin Doing Your Research on Web3 projects.
First and foremost, the team.
Everyone talks about big gains in this space but can the team pull it off? Do they have the expertise to build what's on the roadmap? These are important questions to ask yourself before ‘apeing’ into any project.
Now some founders are first-time founders and it’ll be unfair to judge solely based on their previous companies because they don’t have one. A great indicator is can the team build the idea without outside help. If they can, then that’s a good signal.
If it’s just a bunch of influencers running the project without any real background knowledge in the space then that’s a red flag.
Read through the Tokenomics
You don’t need to be a finance major to understand this part. All you need to know is ‘how does the project benefit from the token?’ If you take the token away, does the project still work fine?
These are good points to know when there is a token just for token sake. If the token has no inherent value, then we could see the token’s price plummet.
How does the project make money?
A simple question is, “what is the business model or at least the planned business model?” This way one can know the sustainability of the project.
If the project doesn't have a business model or even a planned business model, that's definitely a red flag. For example, Opensea makes money by charging a 2.5% fee on every transaction. That is a business model.
Marketing
The type of marketing done by the project can suggest how good of a project it is. Most projects that promise crazy APYs in their marketing end up being a scam.
Most NFT projects that rely on influencer marketing end up being a scam.
These are all little clues you can use to evaluate a project. Most projects that use the Refer a friend for a WL spot end up being a rug pull.
None of these marketing tactics guarantee that the project is a rug pull but they are signs.
A good project has a solid founding team that can build the product. They have a tested planned business model and a path to getting there. A good project makes realistic promises during its marketing campaign and doesn’t try to promise outsized returns.
Ambassador Report
The deal is still on. The ambassadors are still working on promoting The Community DAO from all angles. We won't stop the good job, even after the launch of our CommTower where all Alterverse lovers would meet at last. Below is our leaderboard of evergreen ambassadors.
Leaderboard/Ranking
Rank Twitter username
Banacubana
Dani_BeeHive
Alochinonye
Yhuddee111
Mkay_vic
Kirton Call
[From “Is Ethereum Dying? The Truth About the Merge” by Isaiah McCall - Medium.com 6/11/22 - The Yard Couch]
The Death of Ethereum.
Is it even possible?
With the recent events at least, many are wavering like a scared dog during a thunderstorm. That’s why I’m here to give you the truth about this situation, and it might not be what you want to hear.
The Merge is no longer getting people excited. It worries them - and with good reason…
Misconceptions about The Merge:
The Merge will not:
Reduce gas fees (i.e. transaction costs)
Allow you to withdraw your staked ETH
Be delivered on time
The Merge will, however:
Reduce the issuance rates of Ethereum tokens
Have zero emissions for 9 months after the Merge, thus reducing sell pressure
(after that then POS finally unlocks)
Have a triple halvening, which is another way of saying that the Merge will have the same effect as 3 Bitcoin halving events. In other words, all of the reduction in Ethereum’s supply upon a successful Merge will be like 4 years in Bitcoin time.
Ok, that’s the good news. Here’s the bad:
Staked ETH is depegging
A potential Terra Luna shitshow is stirring in the Ethereum ecosystem.
Lido Staked Ether (stETH), a token from the Lido protocol that is supposed to be 100% pegged by Ethereum is losing its peg. Currently, Lido staked Ethereum is off its peg by 4% meaning that sell pressure is growing.
The message is crystal clear: Some whales and institutions have lost faith in the Merge and they’re derisking themselves.
Thankfully, and unlike the Terra Luna situation, staked Ethereum is guaranteed by smart contracts, meaning every stETH is redeemable 1:1 by ETH that is currently locked. This means that the Lido problem is not a backing issue, as in Terra Luna situation, but a liquidity issue.
Where this situation could get ugly is that a lot of whales, including the Celsius Network, got into leveraged positions to take advantage of stETH yields. This means that stETH being worth less than ETH can cause a short-term crisis where whales are forced to sell which further messes up the peg, creating a downward spiral
In normal plain English: Crypto lending platform Celsius is leveraged up to their eyeballs and that amount of risk may mess with the price of Ethereum and the solvency of their own company.
If customers start withdrawing from Celsius, they will have to sell their stETH,” Bitcoin investor and independent analyst Brad Mills explained. “Celsius has liabilities of 1 million ETH…could cause a run.”
Celsius might go insolvent.
Celsius has a massive staked Ethereum position worth $1.5 billion.
To remain solvent they’ve already started borrowing stablecoins against their position. If the price of Ethereum continues to fall and Celsius is forced to sell, it could trigger a domino effect that could severely tank the crypto markets.
What makes all of this more interesting is that Celsius put a target on their back when they led the charge to sell Terra Luna/UST and collapse their project. Now, this could be payback against the Celsius network.
Keep in mind all of this could be internet conspiracy FUD (Fear Uncertainty and Doubt), but one thing is for certain, Celsius is in a very precarious position.
And let me reiterate: 1 staked ETH is BY NATURE OF SMART CONTRACT redeemable for 1 ETH, so the peg will most certainly be regained in the future; but that doesn’t mean there can not still be enormous sell pressure on ETH in the short term.
The potential for an Ethereum price collapse is more likely than Bitcoin.
According to price analyst Nik Bhatia, “Ethereum is showing a pattern that is mirroring the death of other altcoins.
I have a few theories as to why Ethereum is doing worse than Bitcoin:
NFTs are in an “as long as I don’t sell I haven’t lost any money r-right?” phase
DeFi and CeFi rewards are free-falling and full of scams
Ethereum developers are forming factions, including one who called “Ethereum is too complex for its own good.”
And the merge likely won’t come in August (when it was promised), and when it does, it won’t address gas fees.
–
…When we get the Merge, Ethereum will be deflationary, as well as have a more sustainable consensus mechanism a la proof of stake. If things work out, Ethereum can even beat the narrative of Bitcoin being the best store of value.
The Bear market has taught me a few valuable lessons:
Don’t keep your money on centralized exchanges as they act like they are the FDIC secured when they are not, and they are the most sketchy during bear markets
Unrealistic returns like 20%+ fail during bear markets and therefore should be avoided almost entirely
And finally, there is no perfect inflation hedge. During a recession, everything bleeds
So, whatever you do, be careful out there. This market is very young and anything can happen.
Ethereum is still my favorit long-term investment, but there’s no doubt it’s in a heap of shit as it stands.
[Isaiah McCall - Medium - Yard Couch - 6/11/22]
—
From “Bitcoin Falls 15% as Crypto Selloff Deepens” -By Elaine Yu, Joe Wallace and Paul Vigna
Wall Street Journal, Tuesday, June 14, 2022
Bitcoin’s selloff, sparked by a reversal of the buying mania that drove it higher, has now become the fourth-deepest in the cryptocurrency’s 13 year history.
On Monday, bitcoin fell 15% to $23,250 according to Dow Jones Market Data. That is down 20% from Friday, and 66% from its November high of $67,802.30.
Bitcoin’s slide since November has contributed to a roughly $2 trillion wipeout in the broader market. Crypto’s total market capitalization which peaked in November at nearly $3 trillion, stood at around $975 billion Monday evening, according to data provider CoinMarketCap.
There are some clear reasons why bitcoin is selling off now. For one thing, its moves have been generally more aligned with other risk assets, like tech stocks, as professional traders have joined the crypto market in bigger numbers. Speculative assets like crypto have been falling with inflation and the efforts of central banks to combat that through higher interest rates, a dynamic that makes risk stocks less attractive than safer assets. On Friday, the U.S. inflation index hit 8.6%, dragging down the stock market.
As turbulence rippled through the crypto market over the weekend, a widely used cryptocurrency froze customer withdrawals, swaps between accounts “due to extreme market conditions.” As of May, the lender managed $11 billion in user assets, according to its website…
The cryptocurrency surged to record highs in November last year. Since then, it has slumped 65% against the dollar, belying predictions of proponents who said the cryptocurrency could replace gold as a hedge against both inflation and turbulence in broader markets…
Incidents like Celsius halting withdrawals, and the earlier collapse of the stablecoin terra USD, tend to stoke fear and create a lack of confidence in the market, said Leah Wald, the co-founder and chief executive at asset manager Valkyrie Investments…
None of this should be surprising, she said. Crypto is following the exact same path that other mania-driven assets have taken, like tech stocks in the dot-com era or silver in the days of the Hunt brothers. “All assets at the end of the day follow the same trend,” she said. “As much as we think crypto is a new asset class, it’s not.”
Ravencoin
Ravencoin Mining Pools
From Raven Core, ground zero site/lens to the RVN blockchain: https://ravencoin.org/pools/
Ravenwiki on mining: https://raven.wiki/w/Mining
Article on mining Ravencoin: https://coinjournal.net/ravencoin/mine/
Blocksmith - https://rvn.bsmith.io/
Flypool - Bitfly - https://ravencoin.flypool.org/
2 miners - https://rvn.2miners.com/
Crypticwizardry - https://raven.crypticwizardry.com/
Raven Miner - https://www.ravenminer.com/
Crypto Rush - https://www.cryptoru.sh/ravencoin/getting-started
Wooly Pooly - https://woolypooly.com/
Ravenclause - https://pool.wallstreetv2.com/stats/ravencoin
Ravenpool Ninja - https://ravenpool.ninja/
Mining Pool Hub - https://miningpoolhub.com/
Hero Miners - https://ravencoin.herominers.com/
Kaww - https://kaww.io/
Nanopool - https://rvn.nanopool.org/
Cruxpool - https://cruxpool.com/
Binary-Longevity - https://binarylongevity.com/ravencoin-mining-pool/
Mole Pool - https://rvn.mole-pool.net/
Suprnova - https://rvn.suprnova.cc/index.php
BSOD - https://bsod.pw/
Thank you for your informative content I will definitely come back for more.