Shiny Digest no.26 05.15.2022

Hey fren 👋 Welcome to the 26th edition of the SHINY digest, a weekly newsletter where we share updates on the Shiny DAO, highlights and meaningful discussions from the Shiny discord and recaps from the live-events.

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  • Merch has landed, we repeat, merch has landed! Orders will start going out this week. We can't wait to see photos of your Shiny swag from around the world.
  • We're building a talent marketplace so you can connect with and hire other Shiny members. If you want to be among the first 50 people listed on the platform (and earn some $SHINY) head to this announcement for the link apply.
  • Shiny Magpies & Shiny Feather collections on OpenSea are officially verified. Shout out to @JonathaNFA for making it happen!
  • On May 7th, $UST, an algorithmic stablecoin began to depeg from the dollar causing a sell-off of BTC to buy UST. Over the next several days, LUNA, a token tied to UST, began to slide from $76 to $63 to $30 and now sits at $0.0001885. @Terra_money tweeted on May 12th that the Terra blockchain had been halted to prevent governance attacks. Do Kwon, the founder of LUNA, tweeted yesterday, "The Terra chain as it currently exists should be forked into a new chain without algorithmic stablecoins called “Terra” (token Luna - $LUNA), and the old chain be called “Terra Classic” (token Luna Classic - $LUNC). Both chains will coexist." Sound familiar?
  • On May 9th, Zaga tweeted a Mirror post, which shared Azuki is built on learnings from past projects like Phunks, Zunks, and Tendies. The post caught fire as many realized Azuki's success is on the back of three projects considered to be rugs.The following day, Andrew Wang hosted Zaga on Twitter Spaces to discuss the post and the following backlash. The space was ill-received, however, Zaga followed up with an apology and outlined next steps to turn over full control of the contracts of past projects to the communities and redistribute funds that were taken upon Zaga's departure from these projects.
  • The Zaga saga has impacted many in the Shiny community who hold Azuki NFTs and love the Azuki community. Over the past week, there has been a lot of sorting out what happened and what is next for Azuki. No one, despite being Azuki holders, has been able to rationalize what Zaga has done or how he has handled it. Some view the project's sum as more than its founder and are hopeful the community and the team can rise above bad actors and even worse actions by one bad bean. On the other hand, there are some in the community who believe the Azuki name is tarnished and even more so as long as Zaga sticks around.
  • @jean-baptiste asked @JonathaNFA if he has thoughts on Nassim Taleb's Bitcoin black paper. Jonathan shared, "Bitcoin doesn't have any utility other than a perceived store of value" and is dependent on others entering the system to retain its value resulting in him betting on Ethereum long term. @cf responded with the opinion that Bitcoin will either work or fail, there is no in-between. You can read more of the conversation here.
  • CPG Pop, a collection of 2,777 generative ERC-721A NFTs with a full spectrum of rarity and 1/1 tokens minted this past week. Everything from the art, the contract, the metadata, the audits, the debotting, the incentive design, the utility, the value props to the brand was created by CPG Genesis Members. This collection is intended to scale the utility of the CPG Genesis community while providing unique benefits to Pop holders. Learn more here.
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