Subject: 🦎🚀 Doodles Holders Clapping Along 👏🏼

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Have a wonderful Wednesday, Geckos!

Has the Stock-to-Flow (S2F) model for Bitcoin been wrong all along?

Ethereum’s co-founder Vitalik Buterin criticized the Bitcoin Stock-to-Flow model as being harmful to investors as it is oversimplified and gives a false impression of certainty.

The Bitcoin Stock-to-Flow model created by Plan B has been accurate in tracking the price of BTC for the most part. Up until recently, Bitcoin’s price has decoupled from the trendline on the model.

In today’s news, Pharell Williams joins Doodle NFTs, BlockFi gets a bailout, and Cardano’s Vasil hard-fork gets delayed.

Read on!

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While DeFi continues to chug along, a bumpy road to a truly decentralized governance system lies ahead. Frax continues BUIDLing through the bear market, while the pain points of on-chain governance show themselves. Meanwhile, 'depeg szn' continues.

Read our latest Altchain Update article to learn more!

You can also read our other articles for the week:

We see an ever-increasing rise in blockchain technologies in the space. With that rise comes Polkadot, the Internet of blockchains. Today's video covers what Polkadot is, its ecosystem, and how it aims to revolutionize the space with its parachains!

What is Polkadot?📺 

Here's a preview of our latest Gecko Ramblings! 🦎

The Odyssey Begins

The Arbitrum Odyssey has officially begun! For the next 8 weeks, users can perform tasks within the Arbitrum ecosystem to earn exclusive NFTs.

For Week 1, users will have to bridge ETH into Arbitrum using one or some of the selected bridges here to qualify for the NFT. If you happen to use the bridge that gets the highest volume at the end of the week, you will get a bonus NFT!
Gecko Ramblings delivers the latest alphas, insights & juiciest farms, right to your inbox, exclusively for Premium+ subscribers!

Disclaimer: The information presented is not financial advice from CoinGecko. The information shown here may carry risks of smart contract failure and impermanent loss. Always DYOR and only invest what you are willing to lose.

Doodles NFT Holders Happy

Pharell Williams joins Doodles NFTs as Chief Brand Officer and will lead the project’s direction in music, artworks, consumer products, animation and events. Williams also said that he is a “big fan” of the project.

Williams will also be the executive producer for an album featuring Doodles-inspired music named: “Doodles Records: Volume 1”, released in partnership with Columbia Records. The album will feature “major recording artists” and artwork from Doodles artist Scott “Burnt Toast” Martin.

The Doodles will be available for streaming but only sold as NFTs bundled with additional, to-be-specified NFTs.


FTX bails out BlockFi

FTX comes to the rescue after BlockFi struggles to close a fresh round of venture funding.

BlockFi was one of the firms that liquidated a loan from crypto hedge fund Three Arrows Capital after the fund failed to meet a margin call. Just a few days ago, BlockFi announced a 20% cut of its workforce.

According to BlockFi’s CEO Zac Prince, the $250 million credit facility from FTX ‘bolsters our balance sheet and platform strength’. Prince also hinted that the deal could lead to future cooperation with FTX. FTX CEO Sam Bankman-Fried echoed this sentiment in a tweet as well.


Cardano Devs Admit Upgrade Delay Is Disappointing

Cardano’s long awaited Vasil hard fork is now set to arrive in the last week of July as opposed to the original date on June 29.

IOHK’s head of delivery Nigel Hemsley noted that the team working on the upgrade is very close to finalizing the upgrade. Although they still have seven bugs to work on, none of these are categorized as “severe”.

The Vasil upgrade is the most complex integration on the Cardano blockchain to date. It is touted to provide “massive improvement to Cardano” and its smart contract capabilities, according to Cardano co-founder Charles Hoskinson.


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