📈 Kamala Harris Big Dreams For Crypto

Let's Dive Into It!

Author

Crypto Rand
September 23, 2024

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Happy Monday dear subscribers! In today’s Newsletter, Kamala dreams BIG!

In today's bulletin, we are covering:

 

Canada’s Digital Dollar Ready for Deployment: Concerns About Privacy and Control

The Bank of Canada has announced that it is ready to deploy a digital Canadian dollar if necessary, following years of exploration.

While central bank digital currencies (CBDCs) are promoted as the natural evolution of money, they raise concerns about privacy and potential censorship.

  • The Bank of Canada is prepared to launch a digital Canadian dollar.

  • CBDCs are positioned as the future of money, but concerns over privacy and censorship persist.

  • Canada’s history of freezing protestors' funds during the "Freedom Convoy" raises fears of government overreach.

  • The use of CBDCs could make it easier for the government to control and freeze assets.

The Canadian government’s past actions, such as freezing protestors' funds during the 2022 "Freedom Convoy," add to fears that CBDCs could further undermine financial independence.

Kamala Harris Promotes Innovation: AI and Cryptocurrencies Key to Economic Growth

Kamala Harris, Democratic candidate for the U.S. presidency, has expressed her intention to support innovative technologies such as artificial intelligence (AI) and cryptocurrencies.

Her vision is to build an "economy of opportunity", encouraging investment in these sectors while ensuring the protection of consumers and investors.

  • Kamala Harris aims to encourage innovation in AI and cryptocurrencies as part of her economic strategy.

  • She emphasizes consumer and investor protection while promoting these technologies.

  • Harris seeks to build an "economy of opportunity" by involving small businesses, innovators, and large corporations.

  • Her approach offers a potential shift from Joe Biden's policies towards a more crypto-friendly stance.

This more measured approach contrasts with Donald Trump’s more aggressive crypto policies, as Harris seeks to position herself as an advocate for economic innovation.

SOLAYER 

THE ORIGINS:

Solayer is a restaking protocol built natively on Solana.

Liquid restaking in DeFi allows users to reinvest their Liquid Staking Tokens (LSTs) to support external systems (rollup, oracles, etc), and earn enhanced yield from their staked assets.

The project aims to provide on-chain decentralized applications (dApps) with increased capabilities for securing both endogenous Actively Validated Services AVS (dApps) through stake-weighted quality of service and exogenous AVS via Solana-based POS primitives.

THE OPERATIVE:

This is done with 2 approaches: 

  • Restaking: Leverage the economic security of SOL to secure other systems.

  • Shared Validator Network: Solana-centric networks sharing Solana security and infrastructure.

Slippage is a well known problem, same as conversion delay, both related to liquidity. Looking to improve the liquidity on the Solana network Solayer consolidates all liquidity for Solayer AVS Tokens using the sSOL-SOL pair.

sSOL is a liquid token on Solayer that unlocks a range of DeFi use cases such as liquidity provisioning, collateral, and spot trading.

As we have seen sSOL is the main token of the protocol, it currently has a $135M market cap with 915,4 mil tokens in circulation.

SUMMARY & COMPETITORS

The project recently raised $12M led by Polychain Capital with other participants like Binance Labs among others.

Other projects in the same niche that can be considered Solayer competitors are EigenLayer, Allstake, Symbiotic, Karak, Parasail, Mind Network, Octopus Network or Binlayer among others.

Liquid restaking represents a promising innovation in the DeFi market, offering a blend of traditional staking rewards with the added benefits of liquidity and flexibility particularly in proof-of-stake (PoS) based networks like Solana or Ethereum. This innovation not only expands the potential rewards for validators but also enhances network security by aggregating resources and sharing them across different platforms.

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The Market Gets Ahead

We often hear the phrase that the market looks ahead, almost as if it can predict the future 🔮 But what does this phrase mean, where does it come from, and why is it true? Join me in exploring one of the most fascinating topics!

Fact

The market doesn’t know the future, but it constantly tries to anticipate it. And the phrase in the title of this article is a profound truth with a very simple explanation

 It is much easier and faster to bet on a company, a cryptocurrency, or even a country in the market than in the real economy 

This is due to factors like time, barriers to entry, and capital costs.

Some Examples

  • When a company starts growing its business, it’s quicker and easier to invest by buying its shares than deciding to invest in opening a new branch.

  • When a cryptocurrency has a promising future project, it’s faster and easier to buy it on an exchange than trying to participate in the real economy and benefit from it.

  • And the clearest example is with a country—it’s much easier to bet on one through the market than in the real economy.

For this reason, the market anticipates future outcomes, positioning itself based on future prospects, whether positive or negative. It works both ways

In emerging countries, with unstable economies or crises, this is much more evident. Argentina is the best example of this.

The Thesis

Market bottoms are formed at the worst moments for the country, when all the news are negative and social sentiment is at its lowest. That is the time to strong buy.

On the other hand, market tops occur when the country is doing well and there’s not a single bad piece of news. When the market (stock index of that country) stops making new highs, it’s time to exit ✈️

This is why the market is so important for understanding where a stock or cryptocurrency, or even a country, is in its cycle—and making decisions based on that. Once these cycles are understood, that’s when the difference is made in investments.

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