0/ Jerome Powell鈥檚 hawkish comments sent markets for a spin. In today鈥檚 Delphi Daily, we explore the results of Fed Chairman Jerome Powell鈥檚 comments, $LUNA ATH, monthly $ETH emissions, and Ethereum DEX trading volume. For a deeper dive 馃У馃憞

Dec 2, 2021 路 1:21 AM UTC

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1/ US equity markets opened higher today, recovering from yesterday鈥檚 dip incited by Chairman Powell鈥檚 comments. This doesn鈥檛 mean the Fed will stop expanding its balance sheet, but rather implies an acceleration of the rate at which they plan to decrease their monthly purchases
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2/ $LUNA hit a fresh all-time high yesterday. LUNA鈥檚 circulating supply saw a sharp spike on Nov. 11, caused by an increase in the amount of LUNA to be burned from the community pool over the next two weeks. Approximately 88.675M LUNA will be burned over this period.
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3/ Monthly $ETH emissions have also started to decline. Net ETH emissions for Nov. 2021 were the lowest seen since EIP-1559 was implemented. Other than ETH transfers, @Uniswap and @OpenSea remain the top contributors toward the ETH burn.
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4/ As markets bounced back from the correction earlier this year, trading volume on Ethereum DEXes have consistently increased, although still below peak levels set in May. The emergence of alternative L1s with liquid DeFi ecosystems is part of the reason for this.
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5/ Tweets of the day! A teach-in on LayerZero.
I know asking you to watch a 10 minute video is an act of aggression, but if you are interested in cross-chain / interop take the time for this one. First time we demo @LayerZero_Labs in the wild youtube.com/watch?v=JFnF1dgb鈥
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6/ A thread on Bancor 3: the latest iteration of the Bancor DEX.
1. Last night we saw Bancor 3's unboxing video with guests @DeFi_Dad, @ChainLinkGod, @Arthur_0x and the @Bancor crew. It's the biggest thing in DeFi since #UniswapV3 and will change everything. A Thread ICYMI:
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7/ Macro analyst Lyn Alden鈥檚 discusses what she finds wrong with Proof of Stake blockchains.
My latest public article discusses some of the centralization problems of blockchains related to proof-of-stake and custodial stablecoins. lynalden.com/proof-of-stake/
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