Web3 Wednesday: Lido DAO Overtakes MakerDAO as the largest DeFi Platform

Will 2023 be the year of Web3 social media?

Lido DAO has overtaken MakerDAO in total value locked. MakerDAO has been the leading DeFi protocol for years. In the last week, Lido DAO’s token, LDO, has pumped 19 percent. Will Lido DAO maintain the lead, or is this a temporary setback for MakerDAO?

Solana soared 20 percent after Shiba Inu-themed token airdrop. The jury is still out whether Solana will be a long-term player. So far, despite the FTX setback, it’s looking pretty good, at least for the mid-term. The true test will be what happens during the next bull cycle. In other news, Solana had a pornographic moment that also included an appearance by Big Bang Theory.

Will 2023 be the year of Web3 social media? An excellent read, but its primary focus is on upstart Nostr, backed by Jack Dorsey, Elon Musk’s Twitter charade, Mastodon, and Meta’s FTC battles. One thing it does point out, which is a positive, is the need for a real decentralized social graph.

4 Web3 developments to watch for in 2023. Spoiler alert: One is decentralized social media, but, again, the focus is Mastodon. One thing I like is the mention that Mastodon’s recent surge due to Musk’s takeover of Twitter could lead to the popularity and adoption of other Web3 social platforms. Let’s hope so. Still, no mention of the segment’s leader, Hive.

Goobers NFT founder DNP3 admits to gambling away user funds. At least he tweeted, “I’m sorry.” That should fix it.

The Federal Election Commission has issued a thumbs up on nonmonetary thank you NFTs for political campaign contributors and volunteer political campaign workers. This news went out over the holidays and I somehow missed it, but it’s an interesting news item. What it signifies is an establishment acceptance of the validity of NFTs. It may even lead to the use of NFTs as monetary political contributions down the road.

Donald Trump NFTs plummeted faster than his political career, dropping 80 percent in two weeks. To quote the Trumptser, “Sad!”

Why there is so much hype in NFT marketplace development. HINT: It’s all about the money.

Crypto co-working space EmpireDAO has shut down. So soon?

Phishing is still a major threat with Web3. As long as Web3 continues acting like Web2, phishing will remain a major threat.

Meta wants you to find the flaws in its metaverse. Aren’t they self-evident?

11 ways NFTs can be used for digital marketing. 11 ways is misleading. No. 11 is “multiple reasons” and includes tips from several contributors, including me. They used 6 of my ideas in that one category. A good and long read. Along the same vein, here are 3 ways NFTs can be used to “supercharge” corporate events.

Disney’s next 100 years hinges on the metaverse. A fluff piece to celebrate Mickey Mouse’s 100th anniversary and Disney’s upcoming 100th birthday, in October.

Will every brand eventually have an NFT strategy? Probably, but many of them of won’t know why they have one.

10 tips for a booming Web3 career.

Metaverse Group acquires CocoNFT.

Calvaria raises $2.63 million.

What are the benefits of using a DAO-enabled NFT platform?

Can Social Bees cure the centralized finance problem? The only thing that can cure the FTX problem is true decentralization. If that lesson wasn’t learned in 2022, it likely won’t be learned in 2023.

Despite not being ready for the metaverse in 2023, WIRED says this is the year to be metaverse-ready. 3 metaverse trends that will dominate this year. Yeah, right. I don’t see the metaverse becoming a corporate paradise in 2023. Here’s what happened when Eric Ravenscraft threw a holiday party in Horizon Worlds. Why the metaverse is important for entrepreneurs. Here’s how sexual assault in the metaverse could lead to real life trauma.

A brief history of Web3. It’s very brief. You’ll get a fuller treatment in my book Cryptosocial: How Cryptocurrencies Are Changing Social Media, and a somewhat different take in my upcoming book Web3 Social: How Creators Are Changing the World Wide Web (And You Can Too!).

The benefits and risks of decentralized finance.

Aureal has partnered with Unstoppable Domains (Submitted by Defluenced). Unstoppable Domains has been entering a lot of partnership agreements. What this means for Aureal users is they will soon be able to mint podcast NFT domains and offer soulbound tokens to users, which will allow them to listen to private podcasts broadcast just for them. Aureal users also be able to receive payments through their unique domain names. Aureal is a part of the Hive ecosystem. The partnership also includes a way for Hive users to sign into Unstoppable Domains using Hive Keychain and Hivesigner.

Hear more about the Aureal agreement and Defluenced radio on this week’s episode of Defluenced. @UnkleBonehead is back with a new microphone! We riffed hard.

Do NFTs have a bright future? The Cougar says they harm the environment. How to add an NFT to your Twitter profile. The future’s so bright I’ve got to wear shades.

Insights from Hive

What is Nostr and will it kill Hive? Just like everyone wants to kill Facebook, Web3 social media platforms and protocols aim for Hive. Why? Because it’s the most successful and most advanced of the decentralized social media platforms/protocols. So far, no one has beat it, and I don’t suspect NOSTR will either.

Witness monthly earnings report. It’s interesting to see which witnesses on the Hive blockchain are earning the most. Even more interesting is that the highest-earning witness last month wasn’t highest-ranking one. The top 20 witnesses earned the lion’s share of Hive Power.

HiveBuzz has introduced a new content creator badge. Posted on Peakd.

What’s Happening on Publish0x

Will the 118th Congress be friendly toward crypto? An interesting perspective, but we’ll wait and see.

A funny look at STEPN and its fall from grace.

DiamondApp, gFam, and Read.Cash

LucieDesignsta says New York City is pretty. It’s a concrete jungle. Is that pretty?

Jessica Ossom was selected as a spotlight artist. Congratulations!

Reflections on the Read Cash Rain event. A pretty good read.

Snark and commentary are in italics. Inclusion of an item doesn’t mean I agree or endorse the ideas presented. Of course, it also doesn’t mean I don’t.

Cryptocracy is a decentralized newsletter published several times a week. I curate the latest news and crypto analysis from some of the brightest minds in crypto, and sometimes offer a little insightful and snarky commentary. Always fresh, always interesting, and always crypto. Original articles on Fridays.

First published at Cryptocracy. Not to be construed as financial advice. Do your own research.