GM. This is the Milk Road, the crypto newsletter that only brings you the best info.
We’re like Costco - if we don’t have it, you probably don’t need it.
It's Friday, let's boogie:
- A peek into some 8-figure wallets
- dYdx has a new promotion...but you need to dox yourself
- Funding friday
- Meme of the day
A PEEK INTO SOME 8-FIGURE WALLETS
People always ask us - "Where should I invest my money right now?"
One of the best ways to answer that is by looking at where other people are parking their money.
So we went on a mission to find some wallets with big $$ in it and figure out what their portfolio looked like. There was only one requirement - they had to have over $10m in the wallet.
That's right. No little guppies here. Call us PBS cause we're going whale watching!
In total, we looked at 6 wallets. They held a combined $102m in crypto.
- All had at least 55% of their portfolio in Ethereum assets
- All were putting their crypto "to work" in borrowing & lending protocols
- The most common protocols we saw used were Convex, Aura Finance, and Aave
- 2 of the wallets had at least 10% of their portfolio in Arbitrum
Here's a breakdown of 3 of the wallets (they had some cool names too) -
1/ Ethereum ($25.4m in assets)
- $13.9m on Ethereum (55%)
- $5.7m on Avalanche (22%)
- $4.1m on Arbitrum (16%)
- $1m on BSC (4%)
Main protocols used to get yields were Convex and Aura Finance.
This was the most diverse wallet we saw. And ironically it had the least % allocated to Ethereum, even though the name of the wallet is Ethereum.
2/ EverydayWhale ($17.6m in assets)
- $17.6m on Ethereum (100%)
This wallet had ~90% of its money in lending & liquidity pools. All of it is held in 2 protocols: Maker and Uniswap.
3/ PennilessWassie ($22m in assets)
- $19.3m on Ethereum (88%)
- $2.4m on Arbitrum (11%)
- $300k on Optimism (1%)
Main protocols used to get yields were Frax, Convex, and Liquity.
The Milk Road's Take: It's pretty cool being able to see what the big whales are doing right now. And it's no surprise that most of them are in Ethereum with the Merge coming up soon.
We'll keep a close eye on these wallets over the next few months. Reply to this email with "show me the whales" if you're interested in getting some more of this data.
DYDX LAUNCHES A PROMOTION BUT USERS NEED TO DOX THEMSELVES
Check it out, dYdX is a popular decentralized exchange. And they’re running a special...
It’s a $25 promotion for a $500 first-time deposit.
The catch? Users need to do a “liveness check". Aka they need to show their face on camera and do a biometric face scan.
How'd people react? It was a virtual Twitter riot.
Comments ranged from... "Wtf are dydx smoking?" to "dydx just nuked itself. I will never use the platform again".
dYdX ended the promotion last night “due to extremely overwhelming demand.”
The Milk Road's Take: I haven't heard of a worse promotion since the Prince of Nigeria called me up and offered me $10k, but first needed my social security number to confirm it was me.
TODAY'S EMAIL IS BROUGHT TO YOU BY PANINI
Sports cards were my first introduction to collectibles. They were my “first love”.
But there was a problem: I couldn’t stop getting my Cheetoh dust on them.
So I was hyped when I heard Panini was getting into NFTs. And later today they’re gonna release a whole new set of packs…
Introducing the 2022 Panini NFT Prizm Baseball Packs. Each pack contains a mix of different tiered cards.
And to make it all more interesting, Panini has Set Challenges that can win you an additional NFT - like an Aaron Judge or a Mike Trout.
- Base – Aaron Judge – Users that have the full Base set in their accounts 30 days after the program launches will receive the Aaron Judge Prizm Base NFT
- Base Silver Parallel – Shoehei Ohtani – Users that have the full Silver Parallel set in their accounts 30 days after the program launches will receive the Shoehei Ohtani Prizm Base Silver NFT
- Base Purple Parallel – Mike Trout – Users that have the full Purple Parallel set in their accounts 30 days after the program launches will receive the Mike Trout Prizm Base Purple NFT
I don’t know about you, but I got my eyes on that Aaron Judge card.
Interested? Click here to join in on the fun!
Each Friday, we give you a rundown of Web3 companies that got funded.
This week we saw ~$395M get invested into crypto companies. Here’s who got the money:
Limit Break got $200M to build blockchain games. The founders have experience building popular mobile games like Mobile Strike and Game of War.
Luabase got $4.5M to create blockchain analytics tools. And the Milk Road boys invested in this one. More great data coming your way!
Stacked got $12.9M to launch the Twitch of Web3.
Clockwork got $4M to develop an automation network on Solana. It lets you schedule & automate transactions and on-chain workflows. Look Ma, no hands!
If you wanna check out the full database of companies that have raised money in 2022, we got 'em for you right here.
MEME OF THE DAY
That's a wrap for this week, ladies & gents. Stay thirsty & see ya next week!
If you want more, be sure to follow our Twitter (@MilkRoadDaily)
VITALIK PIC OF THE DAY
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
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