Luna is back baby

Luna's 2x, Puma hits fashion week, and Google honouring the Merge!

Author

Lili (QueenBao)
September 12, 2022

GM Baos.

Today is Monday, which means we're kicking off a wonderful new week. I hope you're killing it out there Baos!

Today we cover:

  • LUNA is flying...? 🥴

  • Puma hits fashion week 🔥

  • Google is honouring the Merge 🙆🏼‍♀️

What's up with Luna?

Holy Bao. Luna has pumped over 200% in just 24 hours! 😳

Yep, the same Luna which crashed the markets back in May and sent my entire bag of UST to 0. It may seem rather surprising since Luna’s price has remained flat at almost zero for months. But, there are a couple catalysts here to unpack.

So... what caused Luna to go parabolic?

  • LUNC governance proposal to implement a 1.2% fee for all on-chain transactions, sent to a dead address to reduce supply

  • Announcement of a Terra Phoenix airdrop for users who didn’t receive a correct amount at Genesis

To remove any confusion, there are currently two Lunas 😅. Luna Classic (LUNC) is the original coin rebranded with a new name. Luna 2.0 (LUNA) is a completely new coin forked from the old Luna.

The 1.2% tax proposal suggests that LUNC would become deflationary, and this got a lot of people excited about the burn mechanism.

I’d be careful Baos. There's a high chance this strategy doesn't work out as it relies on a robust ecosystem of users. Right now, there's low development on the chain, network usage is dropping & fees are high.

The current hype is fuelled by rumours with a heavy dose of fomo – something we're all too familiar with though.

there isn’t any real development on the chain, network usage would likely become obsolete (no users, no interest). the fee is high. not realistic to pay 1.2% on transactions. not competitive… no reason to use it when you can go someone else

Its shocking people are still buying a token that dropped in value by 99999999%. Imagine a big bank in your country fails & loses your entire savings, will you be going back for juicy 10%+ returns? 🤔

I suppose degens will be degens. I applaud you if you hit that 2x on LUNA!

PUMA.eth

What better way to announce you’re entering the Metaverse than at New York Fashion Week! This week PUMA is releasing two NFTS as part of their FUTROGRADE show. Luckily for us, these limited edition NFTs will be redeemable as physical items 🔥

Their NFTs NFRNO and FASTROID are on display in PUMA’s 3D spatial playground Black Station.

I had the chance to check it out and it’s really cool. It feels like you're at an exhibit irl.

“Twenty years ago, Black Station was PUMA’s home for our most innovative designs in fashion,”

“Given the boundaries we are pushing from a product design and digital standpoint, we found it fitting to bring Black Station back as a new portal for digital exploration across fashion, sport performance, our heritage classics, and innovation.” said Adam Petrick, PUMA’s Chief Brand Officer.

Black Station reminds me a lot of Kate Spade New York’s Fall Townhouse. Are Metaverse experiences going to become the norm for brands to showcase new collections?

If yes, I'm all for it.

Google countdown to the merge!

STOP what you’re doing, go to Google and type in “eth merge”.

That’s how much time we have left until the merge 😳 EEEEEEK.

A Google doodle featuring one white bear and one black bear is counting down the days. When the merge is complete, both of the bears will merge to create a panda 🐼

The white bear represents the execution layer (ETH1), while the black bear represents the consensus layer (ETH2).

Did you notice that each day the bears inch closer?

Apparently I’m the only one who didn’t know that pandas are a staple in ETH merge memes 🥲

Nonetheless, this idea was genius. Thank you Sam Padilla and the search team at Google 🫡

Bao-sized news

Made us Kek

Web3 Jobs

Take a look at some new job listings available out in Web3! If you’re a bao holder, you’ll get access to more curated job listings FIRST and coaching during our office hours 😉

Have a sick week. We're always here for y'all if you want to kick back 😎

–Lili