Hola DailyCoin Amigos,What a nonsensical week it has been so far, so much FUD and doom but the markets are awash with green candles!It makes no sense……but hey, that’s crypto!Without further ado, let’s dive into today’s tasty morsels.

• Bitcoin leads the charge with a 6-month high! 

• “When Lambo” just got easier with their NFT Collection.

• Mango Markets Want it All Back.

6-Month high for Bitcoin Leads to Alt-Coin Charge!

Yesterday (Tuesday 02/15/23), Bitcoin closed at a shade over $24,300, the highest daily close since August 13th 2022.Not bad, considering all the FUD and partypoopering from the doomsayers that we’ve been subjected to over the last few weeks.

It wasn’t just Bitcoin that closed heavily in the green, many quality altcoins closed in a field of green too. Cardano ($ADA) regained the $0.40 mark, Ethereum ($ETH) closed above $1,600, and Verasity ($VRA) closed its first daily candle above the hallowed $0.01 level since way back on May 8th, 2022.It wasn’t all rockets taking off though. Whilst Solana did enjoy a 9% pump, it still failed to break any notable previous highs and remains in a macro downtrend.Hence why I said “quality” altcoins.

Why are we in the green though?

On-chain market intelligence firm Santiment credits the recent pump to increased whale wallet buying pressure. Of course, that could be a result of the scrutiny around stablecoins from regulators as people look for a financial safe haven.

For those of us who have been in crypto for a while, we know that when Bitcoin pumps 11%+ in a day it’s usually a good sign!

This Newsletter Is Brought to You by

Who Are Ref Finance?

These days we are beset with news of hacks, exploits, rug pulls, and scams. It’s a minefield!In the crypto market, you are always urged to DYOR (do your own research). So let’s take a little dive into who is behind Ref Finance.Initially created in March 2021 by Near Protocol Co-Founder Illia Polosukhin, Ref Finance was launched the very next month (April 2021).Following the launch, Proximity Labs, a research and development company focused on the NEAR protocol, received a grant from the NEAR Foundation to bootstrap and scale Ref Finance.In June 2021, Proximity Labs set up the Ref Finance DAO. The DAO members were carefully selected based on their value, contribution, and activity across the board.The DAO has two different roles:

• Council: 

  • Council members can create proposals and vote. Only Council members can create proposals. If the majority of the Council confirms or rejects a proposal, that decision will stand

• Community: 

  • Community members can vote on proposals. If the majority of the Community confirms or rejects a proposal, that decision will stand. For most proposals, the Council will defer to the Community's decision, and refrain from voting

Tomorrow we shall dive into the Core Values of the Ref Finance platform.

When Lambo? ‘erm…Feb 19th, That’s When!

Sadly, I’m not talking about actual Lamborghinis being airdropped to everyone (their suspension definitely wouldn’t handle that!), but official Lamborghini NFTs featuring the Huracán STO model by the Italian supercar company.In collaboration with NFT marketplace VeVe, Automobili Lamborghini will list the NFTs on Sunday 19th Feb 2023.As commonly seen with most NFT launches, each Lambo NFT will come with a range of rarity traits. Here's the interesting part though: once purchased, owners will be able to showcase their NFTs in the app’s virtual showrooms and share them on their social feeds. The really exciting feature allows collectors to use augmented reality (AR) to view and “drive” their Lambo on streets in the “real world”.

Nothing has appeared on the VeVe website yet, but keep a weather eye on their upcoming drops page.For real Lambos, we might have to wait a little longer, unless of course you were prepared for yesterday’s big market pumps!Here’s a pic of the Lambo in question, just to whet your appetite!

Mango Markets vs. Exploiter; Who’s in the Right?

Here’s a bit of a moral question for you.You settle a legal argument, then, months later, change your mind and go back to get more.

That’s the conundrum occurring between the Solana-based exchange and “exploiter” Avraham Eisenberg at the moment. 

The facts:

• Oct. 11th, 2022. $114 million drained from Mango Markets DEX.

• Oct. 15th, 2022. Mango DAO voters agree to let Eisenberg keep $47 million, stipulating that Mango Markets wouldn’t pursue legal action.

• Late Oct 2022. Eisenburg returns $67 million.

• Late Jan. 2023. Mango Markets file a $47 million (plus interest) suit against Eisenberg for “damages”.

• Feb. 15th, 2023. Eisenburg’s lawyers file an objection, stating “the matter was settled” following the Mango DAO vote.

The Important Bits:

• This was not a hack; Eisenburg, simply manipulated market conditions to his benefit.

• The exploit was technically legal (although the market manipulation element wasn’t).

• Eisenburg himself allegedly used (the now worthless) Mango tokens gained to vote for the DAO proposal himself.

• Mango Market’s insurance fund was not large enough to cover all liquidations resulting in the platform being wiped out.

• The $67 million payback ensured users recovered their losses.

The Question (or questions).

1. Is Mango Markets right to launch legal action now, three months after the settlement and after agreeing not to pursue legal action?

2. Should the DAO vote be nullified given that Eisenburg himself had a strong hand in the outcome?

3. Is this a crime, given that the platforms used were not hacked?

I’d love to know what you think. Email us at [email protected] and let us know your thoughts.

Also, did you like the format of this last story? 

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What a pleasant Thursday,

Let's see if we end the week on a high tomorrow or if we get dumped back into Satan's playground

For now, there's always more on 

our website

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See you tomorrow!