GM 👋 Welcome to Seedphrase, your guide for the world's most exciting science experiment.

📓 Today’s Agenda:

• 🔥 Hot Headlines

• ↘️ Biden vs Bitcoin

• 💱 Blur Enters the NFT Lending Game

• 📓 This Week in Ethereum

• 🪙 Coins of the Week

🔥  HOT HEADLINES

📈 Market Headlines

• Binance launches Farming for SUI Network, its latest launch pool. You can now state $BNB $TUSD to earn $SUI- Take a Look

• Mastercard partners with Polygon, Avalanche, Solana, and many more to launch a Crypto Credential System - Learn More

• Phantom Multichain is now live to the public, allowing for the use of Solana, Polygon, and Ethereum-based assets within the Phantom wallet - Check it Out

• Venmo announced a new feature allowing crypto transfers to external wallets - Learn More

🖼 NFTs

• Moonbirds has partnered with Monaverse, creating a world where Proof community members can connect, explore art, and experience/host events - Learn More

• Binance launches the Sandbox NFT Staking Program, allowing users to stake their $SAND tokens and earn exclusive #NFT rewards - Check it Out

• Doodles have launched the official Doodlebank Community Council founding members - Learn More

• Memeland has announced Map Raiding, allowing participating Captainz to steal Memeland Maps from each other, similar to Wolf Game - Take a Look

↘️ BIDEN VS BITCOIN

I think we can all agree that Bitcoin is the most bipolar relationship we have ever been in.

What is Happening with Bitcoin? At the time of writing, Bitcoin has dumped roughly 5% over the last 24 hours after getting rejected at the $30K level, now trading below $28K.

This is happening despite Bitcoin breaking its all-time high in daily transactions, which has not been touched since December 2017

Why is Bitcoin Dumping? Biden is dumping on us. Yes, we aren't joking.

Over the years, the US government has seized tens of thousands of Bitcoin, equalling over a billion dollars.

For Example, the 50K Bitcoin that was seized from the Silk Road Hacker in 2021 is currently worth $1.4 Billion 👀

So, after all this time, the government has decided NOW is a perfect time to start dumping on the market, stating they plan on offloading 41K Bitcoin throughout the year in batches.

What better time to dump on the market than during the worst economic period since 2009, amirite, Joe? 💀

What Does This Mean for Our Bags? The government selling isn't the end-all-be-all for crypto, but this does mean the price of Bitcoin will likely be suppressed for the remainder of the year.

Biden has stated that he “plans” on “stabilizing the banking system,” AKA, the $1.14 Billion gained after all the Bitcoin is sold off will go towards bailing out more banks.

God Bless America.

With that said, this will show the world that the traditional banking system is a facade, elevating the ethos of cryptocurrency, specifically Bitcoin, as it has over the last few weeks.

Seedphrase Take: The future is green 📈

💱 BLUR NOW PAY LATER

It’s no secret that Blur has ruffled the feather of many in the NFT space. Despite knowing that, they decided its time to turn up the heat!

Introducing Blend - what Blur is calling their newly launched Peer-to-peer (P2P) perpetual lending protocol. This platform is meant to unlock liquidity for NFTs, enabling 10x the yield opportunities compared to other DeFi and NFTfi platforms.

Check your local Walmart because OpenSea has just fallen to its knees.

How Do Blend Loans Work? Blend allows users to borrow against their non-fungible asset with whatever the lender is willing to offer, using a sophisticated off-chain offer protocol.

Key Note: The off-chain part is important, as it allows for better scaling and gas optimization

Blend loans have fixed rates and never expire, meaning the borrower can repay at any time. However, lenders can exit their positions also at any time by triggering a Dutch auction to find a new lender at a new rate, passing on the loan to the highest bidder.

FYI: If that auction fails, the borrower is liquidated, and the lender takes possession of the collateral.

Are Their Rewards for Using Blend? When you lend ETH, you earn interest and Lending Points. Lending Points are worth as much as Bidding Points and are much easier to maneuver than having to constantly buy and sell with bids.

What Makes Blend Different Than Other Lending Protocols? Unlike pooled lending protocols like BendDAO, Blend is entirely P2P meaning you are interacting directly with other users compared to a pool of liquidity.

This means that instead of the platform managing risk for groups of lenders, Blend assumes the user is sophisticated enough to manage their own risk and capital

For you DeFi heads out there, you can compare Blend to something like Aave but for PFP NFTs.

How Will Blend Affect the NFT Market?:

There are two main ways that we see this going in the short term:

• Due to low liquidity, uneducated traders may get bored or desperate, leading them to check out this new and shiny toy called Blend. Next thing they know, their JPEG worth their entire net worth is liquidated, leading them to Twitter, where they go rampant, calling Blur and scam and explaining how they are killing the space.

Or

• This will allow for liquidity to flow back into the hand of the holders, which has gotten demolished over the last few months by flippers and Blur farmers.

As of right now, point 2 seems to be the winner, as collections eligible for lending have increased in floor price, despite the criticism 🤔.

Can I Lend Any NFT on Blend?: Currently, only three collections are live on Blur, Azuki, Crypto Punks, and Milady Maker.

Don't worry; even if you don't own an NFT from one of the above collections, You Can Still Use Blend using the Buy Now Pay Later feature

Buy Now Pay Later allows Traders with limited liquidity to acquire blue-chip NFTs for a fraction of the price.

Think about it, why finance a house when you can finance a Punk? For example:

• You put the down payment on the NFT (Ex: 8 ETH for a Punk)

• You then pay off the remaining balance over time with interest, like you would a mortgage.

• Once you pay off the entire outstanding balance, the NFT is then 100% yours.

This will allow NFTs to properly scale, as it always for more ways to make money and move assets other than selling, which does more harm than good to holders.

Hot Take: Why buy cheap NFTs when you can borrow and get the expensive ones? Reply back with your take.

🤝 TOGETHER WITH 360 WALL ST

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📓 THIS WEEK IN ETH

Ethereum is a realm of constant excitement.

Rarely is there a moment without something interesting happening, and even if there is, you can be sure that an amusing, heartrending, or unbelievable occurrence is just waiting to take place.

The following are a few of those occurrences that happened this week on Ethereum:

• $250 → $5 Million in 17 Days

• Someone buys Azuki for 0.04 ETH

➡️A user named dimethyltryptamine.eth just turned $250 into $4.15 Million in 17 days in a single trade.

How? On April 14th, dimethyltryptamine.eth purchased 5.4T $PEPE for 0.125 ETH, roughly $250 at the time.

Fun Fact: This was so early that we can't find a chart that goes back that far 😲

Since his/her purchase, dimethyltryptamine.eth has sold roughly 1.5T $PEPE for 500 ETH, roughly $915K. That is 3,660x in realized gain in just 17 days.

The even crazier part is he/she still holds 3.9T $PEPE worth $4.15M at current prices.

One of the greatest plays of the year thus far, only on Ethereum.

🪙 MEMECOIN SEASON

Are you tired of watching from the sidelines as degens worldwide make generational wealth? You’ve come to the right place!

The following are the hottest meme coins from the last week. If you can't beat em, join em!

➡️$BOB is a newly launched frog-based memecoin, up 54% over the last 24 hours. $BOB’s main purpose is to power the @ExplainThisBob Twitter account.

To interact with @ExplainThisBob, simply tag the account under any tweet, and it will explain the tweet in simple words.

For example:

➡️ $MUSK has not had the best week, currently down 20%, but is still on the radar of many memecoin fanatics.

$MUSK is meant to be the ultimate tribute to the king of memes, Elon Musk, with the primary mission of overthrowing all other memecoins.

As stated on the $MUSK website, “$SHIB and $DOGE would be an ordinary dog without the meme master himself” 👀

Is this the start of Memecoin beef?

➡️$PEPE is dominating the memecoin market and is up 60% over the last 24 hours and up around 450% over the last week.

Fun Fact: $PEPE has done more volume than Shiba and Dogecoin over the previous 24 hours and is currently the third most popular memecoin in terms of social standing.

The majority of this volume is due to the following clip of CZ Binance talking bout a potential $PEPE listing. Although CZ did not confirm a $PEPE listing, he did say that one of the main points of interest for listing a coin is users, for which $PEPE is undoubtedly #1 at this moment.

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.