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💰💧Liquid Staking: From Stuck Tokens to the Cool Kids' Table

GhostFi Media™ Issue #26

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“Crypto investing: For those who enjoy heart palpitations and skyrocketing adrenaline!”

- CryptoBoo (The Ghost)

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Here’s what we’ve scraped the net for you today:

  • Liquid Staking: From Stuck Tokens to the Cool Kids' Table

  • MetaMask and Banxa Introduce 'One-Click' Crypto Purchases via Apple Pay

  • HBAR's bullish forces orchestrate a breakout

  • Wall Street Executive Notes: $XRP, $XLM, and Other Tokens Are Currently Trading at Substantial Discounts

  • AI Apps & Platforms

  • Crypto Rookies’ Corner

Updated Aug 17, 2023

Liquid Staking: From Stuck Tokens to the Cool Kids' Table

Imagine your staked assets as the wallflowers of the crypto party, sitting there, all locked up and not a care in the world. But fear not, dear crypto enthusiast, because liquid staking is here to give those assets a makeover, turning them into the life of the party, all while keeping the staking perks intact!

The best part? Liquid staking isn't just about showing those assets a good time; it's about setting them free. No more sitting in the corner, nodding along to the beat while missing out on all the fun dance moves. Liquid staking says, "Hey, let's dance!" and releases your assets from their staking shackles.

But wait, every dance has its risks, and liquid staking is no different. Enter the dreaded token de-pegging – a situation where your locked-up token and its party-loving derivatives decide to do the tango in opposite directions. It's like one's moonwalking while the other's doing the chicken dance – talk about an awkward duet!

Luckily, there's a way to keep these dancing partners in sync. Just follow the staking process carefully, like a choreographed routine, and you'll be twirling through the crypto floor without missing a step.

But hey, don't take my word for it – this is the ultimate guide to liquid staking, your backstage pass to the crypto party of the century!

Liquid Staking: Unleash the Liquidity!

Liquid staking and Proof-of-Stake (PoS) are like the Batman and Robin of the crypto world. In PoS, validators stake tokens to gain power in the blockchain hierarchy – it's like betting on the horse with the fanciest hat at the racetrack. But guess what? These tokens are missing out on other parties where they could be networking and making friends.

Liquid staking swoops in, capes billowing, and sets those tokens free, so they can attend all the hottest crypto events. It's like transforming your shy, reserved tokens into social butterflies – they get to the party, and you get all the perks!

But remember, every hero has its kryptonite – in this case, it's token de-pegging. It's like having your dance partner suddenly decide to break dance while you're doing the foxtrot. Keep your eyes peeled, follow the steps, and you'll avoid any staking slip-ups.

Liquid Staking Magic: Dancing with Derivatives

So, how does liquid staking work its enchanting magic? Imagine sending your tokens to a world-class dance instructor – that's the liquid staking provider. They do the staking mambo on your behalf, and in return, you get a fancy receipt, kind of like a backstage pass to the crypto carnival.

But this receipt is no ordinary piece of paper – it's a derivative! Think of it as your token's VIP twin that knows all the right moves. You can trade it, use it as collateral, or even throw it into the dance circle of the market.

Why Choose Liquid Staking? Because Crypto Parties Are Wild!

Think of the crypto market as a never-ending dance floor – sometimes it's a salsa, and other times it's a conga line of chaos. Liquid staking is your all-access pass to this electrifying dance party. When the music changes, you can switch dance partners faster than a flash mob, thanks to the instant liquidity that liquid staking provides.

But watch out for those party crashers – the risks of liquid staking. Just like that one friend who insists on doing the worm after a few too many drinks, derivatives might decide to wobble their way to a lower value during a bear market or a liquidity crunch.

And let's not forget about the ultimate party pooper – centralization! If liquidity pools become the dance floor dictators, things could get a bit too choreographed for comfort.

So, here's the deal – liquid staking is like giving your staked tokens a VIP pass to the coolest party in town. Just keep an eye out for those dance-offs, be prepared to tango with derivatives, and make sure the liquidity doesn't dry up. And remember, when it comes to smart contracts, trust the ones with a solid reputation – you don't want to end up doing the Macarena in a financial pitfall. So go ahead, put on your dancing shoes, and let the liquid staking party begin! 🎉💃🕺

MetaMask and Banxa Introduce 'One-Click' Crypto Purchases via Apple Pa

Oh, rejoice, fellow crypto enthusiasts! Hold onto your digital wallets because MetaMask has just unveiled an earth-shattering update that will undoubtedly revolutionize the way you buy cryptocurrency. Prepare yourselves for the awe-inspiring magic of... drumroll, please... Apple Pay's "1-click" service! Yes, you heard that right. Now you can part with your hard-earned cash for Ethereum and other cryptos with the effortless grace of a single click. Because, let's face it, who needs all those pesky steps when making financial transactions, am I right?

Banxa, our gallant fintech partner, stands alone in this brave new frontier of simplicity. Among the vast array of on- and off-ramp services dancing around MetaMask, Banxa is the shining star, the chosen one, the exclusive bearer of the coveted "1-click" experience. Take that, other services! Banxa's got the key to the kingdom, and it's a single, solitary click.

Oh, but wait, there's more! Brace yourselves for a deep dive into the musings of MetaMask's very own product lead, Alex Jupiter. EthCC Paris attendees have apparently been having some enlightening discussions about MetaMask's user experience, with Alex Jupiter taking center stage as the shining beacon of... well, not exactly what to do. But fear not, my friends, for change is upon us! MetaMask promises a torrent of updates and optimizations that will undoubtedly propel it to the upper echelons of wallet greatness. Someday. Maybe. We're not entirely sure when, but we're working on it.

Lorenzo Santos, the MetaMask product manager extraordinaire, took a moment to bless us with his wisdom regarding this groundbreaking integration. Hold your applause, dear users, for this innovation is reserved for the returning MetaMask faithful - those intrepid souls who have already navigated the treacherous waters of account creation and KYC verification with Banxa. Yes, you guessed it, it's not waving goodbye to those oh-so-fun steps; it's just making them less... step-y. The second, third, and fourth purchases will now whisk you away to your crypto dreams with minimal hassle. Rejoice!

And let's not forget the pièce de résistance: Banxa's inclusion in the grand MetaMask crypto bazaar. As the curtain rises, you, the discerning customer, will still be presented with a dazzling array of price quotes from various on-ramp services. But fear not, for Banxa's offer now comes with a speedier checkout process! Just when you thought life couldn't get any better, Apple Pay swoops in with its double-click face ID extravaganza, delivering your newfound crypto riches to your wallet a mere minute later. Take that, cumbersome implementations!

Don't let the sarcasm fool you, though. Despite my mocking tone, there's a silver lining here. In an industry that often feels like swimming through a sea of user experience nightmares, this little tweak might actually be a welcome respite. According to Santos, the process of completing your purchase will go from "a few minutes" to "just a minute." So there you have it, folks - the future of crypto transactions, now with 100% more clicks and 0% more hassle.

But wait, there's one final twist in our tale! Banxa, in a bold move that would make even the bravest of knights proud, is aligning itself with the trend towards non-custodial options. Who needs centralized alternatives, right? It's time to let your crypto soar free like a majestic unicorn, guided only by the power of that glorious "1-click" button.

So there you have it, dear readers. MetaMask and Banxa, the dynamic duo of the crypto realm, have bestowed upon us a gift beyond measure: the power of a single click to rule them all. Rejoice, and may your crypto-buying endeavors be forever swift and uncomplicated.

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HBAR's bullish forces orchestrate a breakout

Hold onto your hats because we've got a real shocker here! Brace yourselves for the riveting saga of Hedera's HBAR cryptocurrency, which apparently decided it's time to play in the big leagues. I mean, who needs subtlety when you can have "substantial recent growth," right? That's right, we're talking about a surge so monumental that it's got us all scratching our heads and wondering if someone accidentally spilled rocket fuel on the trading charts. 🚀

And what could possibly have lit this fire under HBAR's digital behind, you ask? It turns out that the oh-so-prestigious U.S. Federal Reserve has decided to hop on the crypto bandwagon. Yes, you heard that right – the Fed, the same folks responsible for printing all those green pieces of paper, are now eyeing Dropp, a micropayment solution built on the Hedera blockchain. Because when you think cutting-edge tech, obviously you think Federal Reserve.

This isn't just about being trendy – oh no, it's part of the U.S. government's grand plan to digitize the dollar. Because who needs those old-fashioned paper bills when you can have your money floating around in the digital void, because, who wouldn't trust their hard-earned cash to be managed by lines of code and the Government?

Here comes the pièce de résistance: Hedera's bold move to join the FedNow program and its newfound BFF status with Dropp. Social volume and sentiment are through the roof – I mean, who can resist the siren song of a good old blockchain rendezvous?

So, lo and behold, the stars aligned, the crypto gods smiled, and we witnessed the most astounding rally in the history of rallies. HBAR's market cap didn't just grow, oh no – it morphed into a market cap beast, going from $1.84 billion to a jaw-dropping over $2.4 billion in just three days. If that's not a sign of renewed confidence, I don't know what is. I can already see the suits in Washington nodding approvingly, patting themselves on the back for making HBAR great again. 📈

Hedera network is set to become the belle of the ball, thanks to this oh-so-organic demand. Because when the U.S. government wants something, it's definitely because it's trendy, not because they see a way to exert more control. 🚔 there you have it, Crypto Peeps – a tale of growth, intrigue, and blockchain romance that's sure to leave you chuckling all the way to the digital bank.

Wall Street Executive Notes: $XRP, $XLM, and Other Tokens Are Currently Trading at Substantial Discounts

Buckle your seatbelts, because the great oracle of Wall Street, Linda P. Jones, has swooped in with her crystal ball to share the ultimate financial wisdom: apparently, altcoins like $XRP, $ALGO, and $XLM are currently on a "special discount" rack. Can you believe that? At the irresistible price of $0.6 for $XRP, don't forget the unbeatable deals on $ALGO and $XLM, both at a measly $0.10. Oh, and let's not overlook the bargain bin find of the century, $XDC, available now for a jaw-dropping $0.06.

In an act of sheer altruism, Jones graced her 40,000 followers on X (because we don’t call it Twitter anymore 😠) with her groundbreaking insights. She brilliantly suggested that even though these prices could nosedive further, it's all okay because the risks are... well, sort of less risky now. Apparently, the stars are aligning, and within the next two years, we're in for a price surge of epic proportions. Move over Nostradamus, Crypto Linda's in town!

And hold your applause for now, because the noble champions of the crypto investment world have been flocking to the banner of $XRP. Their assets under management have skyrocketed 127% this year, with a cool half a million dollars pumped in recently. All thanks to the groundbreaking court ruling that deciphered the cryptic code that $XRP isn't really a security after all. Cue the confetti! 🎉

One sec though, the plot thickens. Just when we thought the tale couldn't get any juicier, the SEC jumps in with their own cliffhanger – an "interlocutory appeal." Because nothing screams financial rollercoaster like a good old legal tug-of-war.

And speaking of thrilling numbers, the XRP Ledger has apparently been flexing its transaction muscles, churning out a whopping 1.2 million transactions per day in August. Move over Ethereum, because XRP's got its dance moves on point, outshining those meager 1.09 million daily transactions.

So there you have it, ladies and gentlemen – a tale of altcoin discounts, legal battles, and transaction showdowns that's sure to keep you entertained while your wallet hides in the corner. Bravo, Linda P. Jones, for enlightening us all with your financial prowess!

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💰 Crypto Rookies’ Corner 📈

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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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