Let’s Move On…

Will you lay yourself down and dig your grave? Or will you rail against the dying day?  ~ The Lumineers

First of all, let’s just not talk about the current events in the industry. A lot has been said about the current saga in the past couple of days. The contagion has already started spreading across the space starting from venture firms losing parts of their treasuries, AAX, and Liquid Global halting withdrawals, mounting losses on the Solana ecosystem, BlockFi going under, etc.

But as I mentioned before, this is all we read/heard on Twitter, media portals, podcasts, and newsletters in the past few days. So, let’s stop it here and rather focus on fixing problems and making sure such things never happen.

In essence, let’s just make a promise to ourselves to learn to self-custody our funds. Let’s not fall for the same trap again and again. Go learn how to withdraw your funds from CEX, learn to read block explorers, try different wallets, and write this on a stone – “not your keys, not your coins”

Last, but not least, be empathetic to those who lost in this fraud.

This week in web3 Wednesday:

  • Nike launches the “Dot Swoosh” program for NFTs & web3 projects
  • Binance Proposes ‘Industry Recovery Fund’
  • DEX trading volume on the rise
  • Oil giant Shell makes move into the Bitcoin mining industry

Nike launches the “Dot Swoosh” program for NFTs & web3 projects

Nike just announced “Dot Swoosh,” a new Web3 platform and ecosystem that lives on the domain Swoosh.Nike.

The project was designed by Nike Virtual Studios led by VP Ron Faris, the former head of Nike’s Snkrs app. It officially launches Friday, November 18th, and people can register through an access code that will be given away at live events around the U.S.

With this announcement, the Polygon ecosystem has yet another brand building on its network. Besides Nike, Polygon has already added Adidas, Starbucks, Reddit, Meta, Robinhood, eBay, Disney, and Stripe.

Binance Proposes ‘Industry Recovery Fund’

Binance CEO Changpeng Zhao (CZ) proposed to create an “industry recovery fund” that would invest in companies struggling to stay afloat in the wake of FTX’s collapse.

“Given the events that transpired in the last week or so, there will be quite a number of good projects — they basically really didn’t do much wrong, they were building their products, they may have their funds on an exchange that went down,” Zhao said on a live Twitter Space.

DEX trading volume on the rise

Traders are flocking to decentralized exchanges (DEXs) in the wake of FTX’s sudden, catastrophic implosion. One DEX, in particular, has risen overnight to become the world’s second-largest venue for trading Ethereum – Uniswap.

In the last 24 hours, Uniswap became the second-largest exchange after Binance for Ethereum trading. Not just Uniswap, in the last 24 hours, seven days, and even one-month period scale, there’s a rise in DEX trading volume across the chains and ecosystems.

Seems like people learned their lesson and moving in the right direction. Upwards we go! 🚀

Oil giant Shell makes move into the Bitcoin mining industry

One of the largest oil and gas companies in the world, Shell, aims to offer its lubricant and cooling solutions to Bitcoin miners.

Darin Gonzalez, US immersion cooling lead at Shell Lubricants, said that this company aims to provide carbon reduction alternatives to its customers, adding that “one of the most important benefits of immersion cooling fluid is sustainability and renewable energy.”

The company will also sponsor the 2023 and 2024 Bitcoin Conferences, as it signed a two-year partnership with Bitcoin Magazine, the event's organizer.