Dec 29, 2022
[December Week 5] PEN TALK
Today’s Topic
📌 POCO Christmas Event Has Ended Successfully
📌 Solana’s NFTs DeGods Has Moved to Eth and y00ts Moved to Polygon
📌 Mango Market Exploiter Eisenberg Arrested!
POCO Christmas Event Has Ended Successfully
We announced our official partnership with KuSwap last week and held a POCO Christmas Event to commemorate the partnership! Our Santa POCOs were sold out as soon as they were listed on KuSwap! We were able to feel everyone’s interest and admiration of POCO! Thank you for your interest and participation!
Through the Santa Sale Event, POCO is now ranked 11th out of 15 in the KuSwap NFT Marketplace! Please look forward to the places POCO will go :)
To kick off the Santa Sale Event, we’re also currently holding a “Show Your POCO” event. Anyone who holds a POCO can participate in this event! All you have to do is capture a picture of your POCO and tweet something witty about your POCO! It’s recommended to add various hashtags on the tweet such as #Protocon, #PENFT, #POCO, #KuSwap, etc. More information about the event can be found here.
Solana’s NFTs DeGods Has Moved to ETH and y00ts Moved to Polygon
Over Christmas, one of the main representatives of the Solana ecosystem, DeGods, have announced that they are migrating to Ethereum.
On the same day, y00ts also announced that they would be migrating to Polygon in 2023 as well.
It was quite interesting to see different reactions from Solana’s NFT community about the decision to migrate. Some were against the move, fearing that the decision would halt or have a negative effect on Solana’s ecosystem while others were ecstatic that DeGods were migrating. Many people on Twitter and Discord stated that they supported the decision in addition to some people describing the decision as “leveling up.”
Rohun Vora, the creator of DeGods and y00ts, also known as Frank, said there was an argument about “DeGods finishing Solana” in a Twitter space. Rohun stated that it was hard to admit that they have been having difficulty growing at the pace they want. Rohun believes that if Ethereum is where they need to be to grow, that’s what they’ll do.
The migration of Solana-based NFTs is highly related to the bankruptcy of FTX. FTX and Solana are known to have close relations as FTX has provided much support to Solana during the early stages. The bankruptcy of FTX caused SOL to fall more than 80%. Therefore, many Solana-based NFT projects are moving to Ethereum as Ethereum is quite less volatile.
Polygon is also focusing on expanding their ecosystem to seize the opportunity at hand. Earlier this year, Polygon announced multiple partnerships with brands and companies such as Starbucks and Disney. In addition, fashion icons such as Prada and Adidas also joined the Polygon ecosystem to start their own NFT projects. According to CoinDesk US, y00ts have been paid for the migration to Polygon as well.
One should keep an eye out on how this will affect each ecosystem.
Mango Markets Exploiter Eisenberg Charged With Fraud
Avraham Eisenberg has been charged with fraud and market manipulation by US prosecutors from the Southern District of New York.
His “highly profitable trading strategy” has drained DeFi trading platform Mango Markets of crypto up to $110 million a while back.
Eseinberg was arrested on Monday night in Puerto Rico as he originally exploited the contracts on Mango Market illegally. According to BloombergLaw, he used two Mango Markets accounts to manipulate the price of Mango perpetual swaps.
Aside from this arrest, the NFT space has been seeing a pump on multiple chains and some are saying that the “bull market” is here. However, one should be aware and stay on the lookout as nothing is for certain yet.
As NFTs have been “pumping”, there is an increased number of NFT projects that are draining wallets and scamming many NFT participants.
