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What’s happening at LandX this week?
🏦 Bank Runs & Exposure
The recent failures of two US banks, Signature and Silicon Valley Bank (SVB), that have been friendly to the crypto industry, and the winding down of operations of Silvergate Capital, a central lender to the crypto industry, have sparked instability in the stablecoin market.
The federal government stepped in to guarantee all deposits for SVB and Signature depositors, which added confidence and sparked a rally in the crypto markets.
However, the instability once again showed the vulnerability of stablecoins, as USDC, the second-most liquid US dollar-pegged stablecoin, lost its peg, dropping below 87 cents at one point on Saturday after its issuer, Circle, admitted to having $3.3bn banked with SVB.
LandX currently utilises USDC (testnet) as it’s stablecoin of choice within the protocol which is used to accept payment from farmers, setup liquidity pools and purchase LandX products.
LandX had no exposure to the US banking crisis or the USDC depeg event however we are looking at options to be less reliant on centralized 3rd parties to ensure our systems remain robust and antifragile.
🎙️ Tide AMA Recap Article
If you missed our “Surfing on Web3” AMA with Tide you can check out the write up here:
https://medium.com/@Tide_web3/surfing-on-web3-landx-ep-1-f7d79216acdb
Some key takeaways are:
The hardest thing is to find the right users and convert airdrop hunters into authentic protocol believers
Always reward users based on the actual value they create for the project
Simple engagement activities are important to grow the community, but complex campaigns will help find out who are the real power users
🧑🌾 Generating real yield in DeFi
Check out this thread by DeFiMinty on real yield in DeFi:
https://twitter.com/DeFiMinty/status/1635310372134719489
Learn more about how LandX can help you diversify your portfolio with inflation hedged assets that offer yield based on real world production
Website & App: https://landx.fi
Twitter: https://twitter.com/landxfinance
Discord: https://discord.gg/landx
Medium: https://medium.com/landx
Telegram: https://t.me/landxfinance
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