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Produced by Daniel Aharonoff & Mogul Media AI

PYUSD Loans and Tokenized Assets: A New Era in DeFi

Unleashing Potential: PYUSD Loans and Tokenized Real World Assets In a groundbreaking development within the decentralized finance (DeFi) sector, a Swiss-based platform, Backed, has emerged as a pivotal player by powering PYUSD loans through tokenized Treasury Bill ETFs. This innovative approach not only enhances the utility of PYUSD but also provides new avenues for users to earn yield on their deposits, thus reshaping the landscape of stablecoins and lending markets. The Mechanics of PYUSD Loans Depository Functionality : Users can deposit PYUSD, a regulated USD stablecoin issued by Paxos for PayPal, into a Morpho Blue vault. This vault supports two types of collateral: Backed's tokenized Treasury Bill ETFs Lido’s wstETH Yield Generation : Depositors of PYUSD earn yield by lending to borrowers who take out loans. This dual engine mechanism—an innovative blend of real-world yields and crypto rewards—optimizes returns across varying market conditions. Tokenized Rea
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Produced by Daniel Aharonoff & Mogul Media AI

Unveiling the Solana Saga: From Microwaves to NFTs

The recent stunt involving a Solana Saga smartphone being microwaved by influencer Bangerz has sparked both controversy and intrigue within the crypto community. Here's a breakdown of the events and the aftermath:

The Saga of the Solana Saga Smartphone Microwaving Incident

  • Bangerz, a self-proclaimed "washed-up influencer" and CEO of NFT launchpad 3land, posted a video of herself microwaving one of the limited 20,000 Solana Saga smartphones.
  • The video depicted the smartphone emitting crackling sounds, steaming, and eventually dripping a mysterious liquid as the screen bubbled off the hardware.
  • Following the microwave stunt, Bangerz minted 3,333 commemorative Solana NFTs inspired by the video, all free to mint via 3land.
  • Solana co-founder Anatoly Yakovenko and other Solana users reacted to the NFT release, with the message "Saga phones are now deflationary" gaining attention.
  • The Saga Microwave NFTs were quickly minted and started trading on secondary marketplaces, initially selling for about $25 worth of Solana but subsequently dropping to around 0.045 SOL (just over $4) on Tensor.
  • Despite the initial hype, the NFTs have generated approximately $33,000 worth of trading so far.

3land's History of Meme-Inspired NFT Drops

  • 3land is recognized for its meme-inspired NFT drops on the Solana network, with previous releases including the "Saga Bust of the Year" collectible based on negative feedback from popular tech reviewer Marques "MKBHD" Brownlee.
  • The project also introduced NFTs inspired by the Solana meme coin "A Gently Used 2001 Honda" as part of its creative offerings.

The controversial microwave stunt and subsequent NFT release by Bangerz have stirred the Solana community, raising questions about the intersection of technology, art, and provocation in the crypto space. As the trading of Saga Microwave NFTs continues and their value fluctuates, it remains to be seen how this event will impact the broader narrative surrounding Solana and NFTs.

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