Discord Integrates Solana

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Here is the breakdown of today's newsletter:

🔥 Yuga Labs Under SEC Pressure?🔗 Discord integrates Solana

• Sam Bankman-Fried (FTX CEO) is facing up to 115 years in prison if he is convicted of all 8 federal indictments against him and given the maximum sentence.

• Staking rewards have gone live for Apecoin (BAYC) tokens. Here is a recent change log and update about how you can stake your coin. (@HorizenLabs)

• Avalanche finally goes mobile with their Core wallet, offering clean and easy-to-use AI, currently only on androids. (D)

• Action on Polygon NFTs displays impressive onboarding, though volume still suffers, especially compared to 2021 Q4 numbers. (CD)

• Decentral Games teams up with Coingecko to release Gecko character skin in their metaverse, available until the 15th. (@DecentralGames)

• Elixir NFT proposes simple royalty enforcement (SRE). An amendment to Metaplex MIP-1 in order to keep NFTs permissionless by default. (@ElixirNFT)

• Poverty Boys NFT floor price dumps hard following the project deleting its Discord server. (@SyndicateNFT_)

Yuga Under SEC Pressure? 👀

 When it comes to Yuga Labs, the NFT community agrees that when it comes to NFT teams/projects the organization has its stuff together which it has shown time and time again. So much so that when the SEC announced they were coming after Yuga in October, everybody had the utmost faith that Yuga was in the best position to fight with the SEC because of how well they maintain their company and partnerships. However, the latest class action against Yuga is revealing some potentially troubling things.

• Celebrity pumpers… Yuga is allegedly not so different than most of the projects that pay celebs to generate hype about a project.

• MoonPay is compromised… the complaint alleges that MoonPay is fundamentally suspect because it was started by Guy Oseary, a prominent Hollywood talent agent. The idea is that Yuga teamed up with him to push BAYC to celebs and he facilitated payments to the celebs via MoonPay; with the goal of making them anonymous as possible.

• Jimmy Fallon revealing his BAYC… allegedly could’ve been a paid market effort according to the suit.

💡 The DropFor now, the contents of the suit are all allegations and nothing is confirmed. This entire case could be complete hogwash for all we know right now. But if these complaints are true then this could really tear the fabric of trust that the community has weaved BAYC into. Most people are under the impression that their favorite celebs bought BAYC NFTs through their own volition but if this notion is challenged then Yuga will certainly have to explain some things to the community.

Discord Integrates Solana Wallets 🔗

In addition to Linked Roles, Discord has now integrated Solana wallets.

💡 What does this mean?

• Servers with the Solana app installed can prompt users to link and authenticate with their Solana wallet, and assign "Linked Roles" based on the wallet. 

• The Linked Roles feature is aimed at improving trust and safety on Discord by allowing server admins to create roles and gate channels based on metadata from a Solana wallet, such as holdings, the number of transactions, or the age of the wallet.

• These metrics can be used by Discord moderators to enable roles within servers.

“Starting today, we’re excited to share that we’re giving Connections a huge functionality boost for Discord users and developers with Linked Roles: a new type of role that’s created by authenticating your profile with an account outside of Discord,”- the team said via their blog post.

💡 The DropUsers will be able to display all these official connections directly on your profile and even certain details from certain connected accounts, such as follower count and site activity. Moderators and admins can then use these connections to create or grant new Linked Roles that provide access to special channels and added safety within the server.

Sponsored Content: There is no sponsored content in this newsletter.

• Sam Bankman-Fraud Arrested

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• NFT Floor App Is LIVE

• Cryptopunk EDM Group

• Coinbase & Apple At War

Disclaimer: The Drop DOES NOT provide financial advice. All content is for informational purposes only. The Drop is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any crypto-related asset is extremely risky and could result in significant capital losses. 

Follow the team: 

Gannon Breslin, CryptoVonDoom, Naveed Lalani, Alex Reed, Naman Patel, Big Tuna

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