Freeway Friday Update — 30 September 2022

Sadie Hutton

Published in

Freeway

10 min readSep 30, 2022

Click to hear from Sadie and get all the latest from Freeway world.

In this week’s edition of the Freeway Weekly Update, you get news from Token 2049 in Singapore and winners announced from Freeway’s 100th episode competition

Hey #FreewayFam,

What the crypto world has been waiting for

Last week, we revealed our exciting new product that’s currently in beta launch, called Freeway Earn & Protect (working title).

In a nutshell, users can lend their crypto to Freeway to earn up to 9%* on BTC and ETH and up to 15%* on stables like USDT, USDC & BUSD, while Freeway is legally required to repay the loans plus rewards earned, at any time, with no lock ups and no fees.

But that’s not all, because Freeway also protects 98%* of all loaned assets against risk of trading loss. And Freeway holds 100% of assets in segregated brokerage accounts (which means they cannot be used by the brokerage), with full EU regulatory protections and institutional-grade custody.

It’s been just over a week since our beta launch began, and we’ve seen extremely high demand, which shows huge potential for our public launch of Freeway Earn & Protect within the coming months.

And it’s no surprise that Freeway Earn & Protect looks set to be popular, because a crypto Earn platform that protects its assets properly is exactly what the crypto world has been waiting for.

In Singapore this week, our team has been honing their sales pitch for the upcoming launch of Freeway Earn & Protect at one of the world’s premier crypto events — Token 2049 (see pic below, including our newest four-legged Freeway team member).

And judging from the responses we’ve had in just two days in Singapore, I can assure you, the future for Freeway looks very bright indeed!

If you’re interested in finding out more, please complete this form to apply for early access.

*Rewards may change or cease at any time. Rewards are added to your Earn & Protect account in the same denomination as the crypto loaned. When you lend crypto to Freeway, we become the owners of your assets. Any reference to “protection(s)” refers only to protections of Freeway’s own assets. Protections are not absolute and could result in a loss of Freeway’s assets. Earn & Protect terms and conditions apply. Not yet available to US citizens or residents.

Congrats To Our 100th Episode Winners!

Cast your mind back a few weeks to Freeway’s 100th weekly update. We asked the FreewayFam to give us their best content ideas to help make the next 100 updates even more awesome to read.

We’ve got a stack of great ideas to choose from and I’d definitely like to see one or two featured in the weekly updates soon, so watch this space…

However, in the Freeway spirit of More Rewards, we selected the winners at random and I’m delighted to announce the following members of the FreewayFam have all received $100 in Superchargers into their Freeway accounts.

Jerome Habrant — $100

Gregory Simmon — $100

Andrei Eugen Baboi — $100

Paul Matiko — $100

Gary Bouse — $100

Ewan Harper — $100

Brian Kelly — $100

Well done you lot, legends all!

Freeway’s Latest Growth Stats

It seems that excitement about our new Freeway Earn & Protect launch has driven a boost in sales of Freeway Supercharger simulations too. While that rise will be more noticeable in next week’s corporate growth figures, the stats this week are looking pretty healthy too.

Here are the latest figures in full:

Total Freeway users worldwide = 26,165
Total of Supercharger simulations = $156,819,027
Supercharger buy orders = $2,932,307
Supercharger sell orders = $1,046,659
Freeway Tokens staked/held on Freeway = 6,318,975,969
% of FWT circulating supply on Freeway = 89.73%

Guerrilla of the Week: Crypto Girrl

Telegram: @Cryptogirrl

After being in the Freeway community for a long while now, it’s time we recognise Crypto Girrl from Down Under!

After coming into the ecosystem relatively early on, she has watched Freeway grow and develop along our journey together with the FreewayFam, describing Freeway as a ‘True gem’.

It’s a pleasure having you in the FreewayFam and we think having such positive people around is actually the true gem!

Congratulations Crypto Girrl, you are officially this week’s Freeway Guerrilla Of The Week!

Agent Alpha on: $16 Trillion Wipeout = Enough FED Pain

Agent Alpha’s statements are solely his own opinions and market commentary, are for entertainment, and are neither endorsed by, nor represent the views of Freeway. You should always do your own research and seek independent expert financial advice.

It’s been a week, and a month, of absolute carnage across asset classes.

By some miracle, however, the global proxy risk index (SPX) refuses to close below the June low, and is holding the technical pattern intact, by the skin of its teeth. What is that pattern? Inverted H&S with the neckline back all the way up at c. 4400. Probability feels negative, of course, but it is still in play, and remember IF THIS HAPPENS, 5k is the extrapolated S&P target in the coming months. Nuts? Maybe not as nuts as it currently feels to say.

However, if this fails the H&S pattern extrapolated out over the longer timeframe, with the head all the way back at ATH at the beginning of this year, provides a downside target of 3856 — hence the line as support highlighted, should this inverted pattern succumb.

With risk/reward the way it is right now, you have to be long right?

Some positives to focus on

In the immediacy, I draw attention to a political tail risk worth being aware of…..

There is growing chatter that Putin could make a move today for a ceasefire as the Luhansk Oblast looks increasingly likely to fall. While it may be outlandish, keep an eye out for some geopolitical market moving headlines there — because this is a tiny BUT very real positive tail risk, in my view.

Another political tail risk is abating fast, as the UK has dominated headlines and market risk this week, because this ship is steadying up. Positive for global risk in other words. The OBR (Office of Budget Responsibility) will imminently release a report on the fiscal situation, providing some semblance of order to things re: credibility. The point being it’s time to ‘move on’ as it is already old news re: market risk.

As October looms, this is far more interesting, that being the European Central Bank’s ESRB warning (European Systemic Risk Board) overnight on the growing threat of market meltdown in the Euro Area. Keep an eye on that as SubFin CDS credit stress rockets higher.

Whilst in the micro world (aka companies), the warnings are now rolling in thick and fast. The bears out there would say we still have to bake in earnings P/E downgrades to the markets, and that this is the next shoe to drop for markets per se, which will further pull risk lower. But a counter point surely must be that these catastrophic warnings in corporate land are arguably already there for everyone to see.

The headline grabbing micro latest being……

Carmax (KMX US) — US second hand car retailer collapsed yesterday > 25% as earnings came in HALF expectations. The FED has killed the consumer already folks. Manhiem used car index (big contributor to US inflation stats) now -13% from peak.
Nike -10% after market today on a MASSIVE inventory build and huge discount necessity strategy that now must be unleashed = CONSUMER alert.
Whilst in tech — Micron (MU US) in semi’s warns on huge DRAM demand collapse

So, let’s look at how much has now already been lost. How much the FED has already cost the world as the FED governors still refuse to back down on their hiking / smash everything in their pathway policy…

$16 trillion in market cap in both equities and high grade bonds — that’s how much YTD the world has now ‘lost’; which as you can see from a handy breakdown of charts below shows how this ‘loss’ basically dwarfs anything we’ve seen in history in an absolute sense. Bigger losses than covid, the Great Financial Crash and the tech crash of the early noughties.

Need some context of what $16 Trillion actually is? Well, it is more than the entire GDP of CHINA…

So what is my message?

Well, as September ends (what a cracking song that is btw, but I digress), stress across the world is at unprecedented levels with losses on a scale we have never seen (see sovereign CDS breakdown below). Why? Well largely because the FED is so hell bent on this hiking path, which has crucified liquidity and basic orderly functioning of markets, no matter their delusions that they have not (Treasury Secretary Yellen’s comments this week are a case in point).

This is what I think October brings: the ‘bottom’ (if we’re not already there).

Perhaps this clinging on pattern that the S&P is currently trying to hammer out, will prove the actual bottom is being put in place right now. And why do I think that?

Because inflation is now set for the big rolls….. we’re coming into the period whereby the hard data will surprise to the downside, and historically speaking (as a recent Blackrock study shows), the S&P typically rallies c. +11.5% the year following peak inflation. Well, we’ve peaked on inflation and if Carmax and Nike et al are to be paid attention to, then not only have we peaked BUT such is the mess, we could (and will) soon be on the cusp of significant downside inflation dynamics that will completely bamboozle the maxed-out consensus now.

My conclusion

By some miracle this absolutely shocking month for risk has held on (just about). The asset destruction YTD is unprecedented and warnings from bodies who have never warned before, like the ESRB, coupled with credit market stresses NOT only on the micro but on the sovereigns too, across ALL major economies and second tiers, screams that if we get much more of this, then something calamitous is coming we may not be able to walk back from this time around.

The micro is pointing quite clearly to peaks in inflation — way behind us already as revised data I am convinced will prove — and calamitous real-time economic dynamics that for some reason the current dogma at the FED refuses to see, also points this way.

October is the month that the bottom will be seen, if not already, because a confluence of above says to me the pain colliding with the hard data will provide enough excuses to start backing down (calming down) and is now in plain sight.

And I am 100% certain this is not lost on you Alpha readers, but look how well BITCOIN has held up…

Until next time,

Alpha

Tuesday’s AMA on Telegram

Once a week on a Tuesday at 6pm UTC, Freeway holds a live AMA in the Freeway Telegram channel that gives the community a chance to ask direct questions to Freeway’s co-CEO Graham Doggart.

If you didn’t make it this week, you can read our full transcript.

Click below to join the official Freeway Telegram group.

If you’d like to participate in the next AMA on Tuesday at 6pm UTC, where you can ask Graham anything, join the Freeway Official Telegram group here.

As always, we love hearing from you, so please join us on Telegram, follow us on socials, and if you want to hear from us and you want to hear it first, sign up for the newsletter.

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Until next week,

Sadie Hutton

Co-Founder and CEO

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