Return of the Hawk?

We Called It!

• @donnyenglish - Week 72 - “looking to add following a daily close above $10.40”, the stock closed +24% on Tuesday, closing at $11.26 (+8% spot gain)

Macro Markets

The U.S. Federal Reserve is expected to hold rates steady after its next meeting on Wednesday, May 1. However, there may be hints regarding how the Fed expects to react to the uptick in inflation reported in 2024. Fixed-income markets still expect the Fed to cut interest rates later in the year.

As such, the path to the Fed’s 2% inflation goal is less certain, as annual inflation is between 3% and 5% today, depending on the metric used. Even in the best case, 2% inflation could take longer than expected. For now, the Fed is expected to leave rates at high levels for longer in reaction to inflation data, but interest rates will still be cut in 2024.

US Fed Chair Jerome Powell will hold a press conference after the announcement. Investors worldwide will be closely monitoring what the US Federal Reserve says. Powell's talk may hint at the future course of monetary policy.

Payrolls

The U.S. economy is expected to have added roughly 243,000 jobs in April, potentially keeping the unemployment rate steady at 3.8%. However, the market has repeatedly underestimated the labor market’s resilience, so a stronger-than-anticipated NFP survey remains possible. That said, a particularly robust jobs report would likely propel the U.S. dollar upwards, as it could reinforce expectations of a cautious Fed on rate cuts.

Wizard’s Weekly Musings

We have had another volatile week, as expected. The market is under pressure across the board due to bad macro data and the potential risk of a hawkish Fed. Crypto has also seen significant outflows, with altcoins correcting down another 20-30% across the board. We have been derisking with taking profits on our longs from last week's big dip into the pump this week. We sit close to 50% stables and feel comfortable ahead of FOMC and NFP. 

It has been a long time since we have experienced a situation in markets like now. Let’s start with FOMC and rate-cut thoughts. 

Currently, the market sees an 18% chance that interest rates will be held steady for the remainder of 2024 but no chance that rates will increase from their current level of 5.25% to 5.5%. The most likely outcome is expected to be one or two rate cuts in 2024.

The upcoming inflation releases may be more important than the FOMC’s May statement. April’s Consumer Price Index inflation data will be released on May 15, and then May’s CPI figures arrive on June 12. The May CPI release will coincide with the conclusion of the Fed’s June meeting.

If monthly inflation returns to a more moderate increase of around 0.2%, as typically seen in the second half of last year, that may give FOMC officials confidence in cutting rates.

However, if monthly CPI inflation remains in the 0.3% to 0.4% range, as reported recently, the FOMC may have to reconsider 2024 interest rate cuts.

Now for FOMC today. Although investors will be closely monitoring any shifts in the FOMC’s language in the wake of the batch of hotter-than-anticipated inflation statistics for March and the first quarter, the Fed is widely expected to maintain borrowing costs constant in the meantime. Markets are now pricing in just one 25 basis point rate cut this year, a considerable decrease from the three cuts observed just one month ago.

The US Fed faces deflationary recession and stagflation risks due to re-acceleration in inflation rates and GDP drop in Q1. Although investor confidence has been divided during the results season—particularly in tech stocks—any hawkish remarks made by the Fed might have a negative impact on the market.

One thing to look out for is the bond holdings of the Fed. One bit of news the Fed likely will make at the meeting would be an announcement regarding the balance sheet.

The central bank has been allowing up to $95 billion in maturing Treasuries and mortgage-backed securities to roll off each month rather than reinvesting the proceeds. The operation has reduced the Fed’s total holdings by about $1.5 trillion.

As it reduces the holdings, bank reserves parked at the Fed theoretically would decline as institutions put their money elsewhere. However, a dearth of treasury-bill issuance this year has caused the reserves level to rise by about $500 billion since the beginning of the year to $3.3 trillion as banks park their money with the Fed. If the reserves level doesn’t drop, policymakers might be forced to carry out QT for longer.

This FOMC, paired with Payrolls on Friday, sets us up for massive volatility. We are basically going to sit at support across the market and tease a dump or wick down and back up into data. Powell has the power to bounce us off support, and so does Payrolls. Post Payrolls, we have a two-week break until CPI, so the market will trend and chop. Regardless, we will once again derisk into CPI. 

I prefer being in stables here unless we break down below and hit new support levels. Of course, if FOMC and Payrolls are bullish, I will look to unstable 20% and deploy them instantly into Eth, Solana, and Pepe to start. I am not looking to add to many altcoins here other than strong majors and large-cap memes that have shown the most strength. 

Look for the Money Glitch channel during FOMC and the Alpha Channel for live views on the market. 

Wizard’s Cauldron

Current Portfolio Allocation

CRYPTO: 10% Primarily Solana, ETH and AVAX

NFTs: 10%  Pudgy Penguins, 0N1 Force, Skyborne Legacy and Overworld Incarna

STOCKS: 10% Gold, Silver

PRIVATE EQUITY: 20% 

STABLECOINS: 50%

Equities

@abullish 

It’s been an interesting market lately. “Sell in May, go away” is starting to pivot to the opposite story on my timeline with buying this chop at the bottom of the range. We still need SPX to hold 5000. $DXY & the US 10-year have still been bullish, so I’ve patiently waited for that to start turning. Big data will be released tomorrow, so there’s not much to look at now. When we see the markets starting to shift, I will write it in the chat. The bearish sentiment still holds on for now. 

@donnyenglish

I’m in the same boat as Abe more broadly this week. 

It's good to see our MSOS print with a +24% gain as the U.S. DoJ has taken key steps to declassify cannabis as a less dangerous drug, which saw the broader index and underlying names (Tilray, Green Thumb, etc.). Macro backdrop following tomorrow’s Fed press conference, it looks like MSOS is poised for a sustained breakout and looks to be clear skies until ~$14. Based on the chart below 

MSOS Weekly Chart:

Another big news snippet is the Senate passing the ban on Russian Uranium Imports, which President Biden will now sign into law. After a sharp sell-off on Tuesday, Uranium stocks have rebounded massively in Asia.

We remain long NXE (which should consolidate here after the A$250 million equity raise on Tuesday, which was upsized and strongly supported), UEC, and DNN.

To play the Uranium enrichment theme stemming from this, I already own Silex System (ASX: SLX). However, for North Americans, ASP Isotopes Inc (NASDAQ: ASPI) is a good way to play this trade. ASPI has traded off over the last six weeks and looks to have room to run until ~$ $4.30 - $5.00.

Technical Analysis

@cryptofox Analysis

USDCAD - DXY 
Altcoin shorts

Last week, we introduced the USDCAD pair to the mix. We plan to pay close attention to this market for a significant amount of time going forward. The main reason for this is that (just like EURUSD or GBPUSD) USDCAD is an excellent benchmark for USD strength. This allows us to accurately trade this specific FX pair and, more importantly, keep a close pulse on the United States Dollar, which can benefit us in all markets.

In the previous newsletter, we said: 

“... we aim to get on board in a short position to ride the ongoing 4H downtrend. Before entering our position, we want to see a move back up to retest a bearish order block […]

1.36934 is the exact level where we plan to enter our short, putting our stop loss at 1.37421 while ultimately targeting the April 2024 open price at 1.35359. However, once the position moves in our favor, we will gradually cover our short position at the 1.36284 and 1.35697 levels (targets one and two).”

After seeing the price retrace back up and into our limit short order, we got a move down to form a recent local low at 1.36320 for a very decent 60+ pip move in our favor before hitting the newsletter's suggested stop loss.

Right now, things seem to have changed significantly, at least on the 4H timeframe, from when we looked at it last week. For May, our bias is that we will see at least a run back to April’s high at 1.38461 at some point. (bullish monthly bias) This means we are no longer interested in short positions on this pair. However, with the price trading at 1.378 at the time of writing, we don’t consider just market buying USDCAD a smart idea. 

From here, we are looking at two possibilities for taking a long position to target April’s high (and then higher). However, it is important to note that these two options remain relevant as long as the price hasn’t hit April’s high yet. We don't mean to commit to any positions if the price does not give us a retracement into one of our interest levels before running above 1.38461.

Our first level of interest for USDCAD is sitting at 1.373, while our second level of interest for USDCAD comes at 1.37. Ideally, we want to see price retrace and tap below either of those levels. Only after closing a 1H candlestick back above 1.373 or 1.37 after first going below do we intend to go long, primarily targeting April’s high but (as always) managing the position in a sensible way as it would run in our favor (trailing stop loss, gradually reducing position size to lock in gains, …). After taking our entry, we do not want to see any more 4H candles close below 1.37, invalidating our long setup.

With a bullish monthly bias on USDCAD, we also have a bullish monthly bias on the DXY, with a short to mid-term target of 108. Currently, the DXY is trading at 106.36. As long as our bias is bullish on the DXY, we see no reason to over-allocate in altcoins, let alone look for leveraged long trades. Apart from USDCAD, we also touched on ONDO last week, suggesting both a long and a short option. After the publication of this previous newsletter, we first saw our long option meet entry criteria and run up 6.7% to a local high at 0.927 before returning to hit our suggested stop loss and meeting our short criteria later in the week. So far, the short position on ONDO hasn’t been invalidated yet. In fact, with ONDO trading at 0.7268 at the time of writing, we are again looking at another attempt to break below 0.7128 potentially. If we see that, we want to add to our existing swing short position (on 2x leverage) on ONDO in the same way as suggested in last week’s newsletter. 

Apart from ONDO, ATOM and CRO are some tickers we are looking at for good short positions in the future. Due to a high degree of expected volatility, we will update those ideas in the TG alpha chat and the Edge session this week to stay as closely on the ball as needed.

@daniel4 Analysis

ARB

TLDR: This is a trade update. We will continue adding to our long position in the $0.90 - 1.05 range and adjust our stop loss of $0.95 to $0.80 with the same targets of $1.40, $1.75, $2.05, and $2.40. If you cannot add more or lower the stop, keep the same levels as last week.

Looking at ARB on the Daily chart, we can see there is a gap around the $1.40 level. This is where ARB lost a crucial support level, which led to a cascade liquidation event. There is a clear inefficiency on this chart, and we will position ourselves to take advantage of a potential recovery. 

Our stop is loose and is at a level that invalidates a potential bullish scenario. We look to add to our position at the current price and lower in the $0.90 range. The Weekly timeframe is heavily oversold, and we are bidding with confidence and low leverage if not spot. 

SOL

TLDR: We will be layering long into a new SOL position after getting stopped out at $124. We will be longing $125 with a small starter position and placing bids at $112, $105 and $100 with a stop loss of $90 and targets of $160, $176, $195, and $240.

The main level we are watching is $105. This is an unfilled wick from March that seems to be a magnet. There is also an unfilled wick from the blood bath at around $112 two weeks ago. Ultimately, the imbalance at $105 seems to be the level that SOL wants to fill before bouncing sustainably. 

Side note: This has been a rough environment as a bull the past couple of months, but my goal is to guide you all through the shaky times as best I can. Many ideas have stopped out, but we will go again as our strategy has proven itself during the run from October to April. We will continue to bid key levels with confidence, keep leverage low, and look to long liquidations and positions of power.

Looking ahead, we can expect one more potential liquidation event before a true reversal. This will likely mark the short-term bottom and fill the imbalances that I spoke of at $105 and $112. 

W

TLDR: We are still long W with confidence. We will add to our position in the $0.55 - $0.62 range with a stop loss of $0.425 and the same targets of $0.72, $0.80, $0.98, and $1.15. Plan on holding a moonbag for ATH.

Wormhole has outperformed many of our other ideas, tagging a high of $0.69 this last week and remaining relatively flat during dumps from the majors. Once we see some relief bounce across the board, I believe W will continue to outperform and see a serious move to the upside should W clear the $0.72 level. 

WLD

TLDR: This is a trade update on WLD. We will add to our long with bids layered at $4.50, $4.00, and $3.75 with the same stop loss of $3.40 and the same targets of $6.80, $7.50, and $9.40.

WLD has still formed a bullish divergence on the Daily chart. We are looking for a potential double bottom around the $3.50 - $3.75 range on the Daily chart, as there is an unfilled wick from mid-April that we can expect to fill. 

Should the market turn around, we can plan to trim our position at the given levels. Should we get stopped out, we will look to re-enter around the $2.00 - 2.50 range.

@pidgeonn Analysis

BTC

Bitcoin finds itself at a decision point. Currently, it's trading around 60k right as support; however, with the formation of local lower lows and lower highs, the chance that the support holds is lessened. We can draw a very clear line in the sand on Bitcoin, however, in that if it loses 60k, meaning a multitude of high-timeframe closes or a break and retest below, we can expect BTC to trade down to 56k, 52k, and potentially 49k.

Once these lower levels are reached, we can look to bottoming price action to enter bids again, as Bitcoin remains in a macro uptrend. We believe that even if this consolidation period allows a deeper correction, price trades back up over time to new ATHs.

If, instead of breaking 60k, Bitcoin sweeps the liquidity on the lows and gets back inside the range, we'd naturally look for a move back up to the high end of the range. Also, if it sees a strong bounce to above 68k, we'd expect a higher or lower form, which could also be a good place for an entry.

Taking these ideas into account, we are left with a few trades. 

1. A long on the retrace after a new higher high. levels TBD. targets to the high and higher.

2. A short on the break and retest below 60750, targeting 56200 and 52300. Stop at 64269.

3. Set bids at 58600 with a super tight stop at 56590. Targets to 62065, holding for 66550 and higher.

As well as, of course, simply placing spot bids in the 49-52k region.

BTC.D

Bitcoin's dominance continues its strong uptrend. It is now retesting the previous resistance as support, which will likely lead to the continuation of the uptrend. This means that most altcoins will keep underperforming as they have been. This can happen in one of three ways. Either BTC goes down, and the alts go down more, BTC goes up, but alts go up less, or BTC goes sideways, and alts go down.

This idea does have an invalidation, however. Once we see Bitcoin Dominance move below 53%, we'll have the first warning signs of a reversal, and below 51.5%, we likely see the start of alt season. Targets come to 58, then ~60% on strong continuation, perhaps a little higher. We do not expect to see it higher than 68% again.

FET

Fetch has one of the best charts in the AI sector for those interested in AI coins for the long term. It does look to be correcting; however, any pullback to 0.6-0.8 is a solid buy. The invalidation would be below 0.36, with targets back to 2.8 and higher.

Alternatively, if FET manages to hold the ~1.1 region, we could look for some buys on bottoming action with stops below the local lows it forms. The target would be back up to 2.8 once again and 4.69.

Web3 News

@epicrubia

SEC's Secret Consideration of Ethereum Unveiled in Lawsuit Revelations?

In a surprising revelation this week, unredacted sections of a lawsuit filed by Consensys against the U.S. Securities and Exchange Commission (SEC) unveiled a significant development regarding Ethereum (ETH). According to these documents, the SEC has internally regarded ETH as a security since April 2023, shedding light on a long-speculated aspect of the regulatory landscape.

This disclosure contradicts the ambiguity surrounding the SEC's stance on Ethereum, notably observed in Chair Gary Gensler's evasiveness when questioned about the matter. While the SEC declined to comment on this latest development, the unredacted lawsuit provides concrete evidence of the agency's internal deliberations regarding the classification of ETH.

Ethereum's scrutiny appears to have intensified following its transition to a proof of stake consensus mechanism in September 2022. This fundamental shift allowed users to stake ETH with the network and earn rewards, a practice that has raised regulatory eyebrows, particularly within the SEC.

In the aftermath of the SEC's alleged formal order on Ethereum, which authorized an investigation into the cryptocurrency, various entities within the crypto industry have faced heightened regulatory pressure. Notably, the Ethereum Foundation and several American crypto companies have been subpoenaed, signaling a broader offensive against entities involved with Ethereum.

In response to these developments, Consensys, a prominent Ethereum-focused company, filed a lawsuit against the SEC. Their argument challenges the regulatory authority's grounds to classify Ethereum as a security, initiating a legal battle that could have significant implications for the crypto ecosystem.

The market reaction to this revelation was palpable, with Ethereum experiencing a slight decline in value following the news. However, the broader implications of the SEC's internal classification of ETH as security remain to be fully understood, leaving many stakeholders within the crypto community on edge as the legal proceedings unfold.

Stripe Makes a Stablecoin Comeback

Payment giant Stripe is dipping its toes back into the cryptocurrency waters. After a short-lived foray into Bitcoin payments in 2014, Stripe is setting its sights on stablecoins, a type of crypto pegged to a stable asset like the US dollar.

This move signals a shift in Stripe's crypto strategy. Unlike Bitcoin, whose price fluctuations can be dramatic, stablecoins offer more predictable value. Stripe sees this stability as a key advantage, believing it will allow merchants to seamlessly accept crypto payments without worrying about wild price swings.

The rollout is expected to begin this summer and will allow businesses to accept USDC, the second-largest stablecoin by market capitalization. Initially, transactions will be supported on three blockchain networks: Ethereum, Solana, and Polygon.

This is not Stripe's first foray into crypto after its initial Bitcoin experiment. In 2022, the company dipped its toes by offering its payment platform to NFT marketplaces and Web3 companies.

While the specifics of future supported networks remain announced, Stripe's re-entry into crypto with a focus on stablecoins suggests growing confidence in this technology's potential for mainstream financial transactions.

Venezuela Eyes Crypto to Bypass Renewed US Oil Sanctions

Venezuela's oil industry is bracing for the return of US sanctions, prompting a renewed focus on cryptocurrency as a potential lifeline. The state-owned oil firm, PDVSA, is reportedly looking to ramp up its use of Tether (USDT), a stablecoin pegged to the US dollar, to facilitate oil sales.

This move came after the US revoked a general license that temporarily relaxed sanctions on Venezuela's oil sector. The license was part of an effort to encourage a fair presidential election in Venezuela, but its withdrawal follows the disqualification of a critical opposition candidate.

While cryptocurrency offers a potential avenue to bypass traditional banking channels and sanctions enforcement, there are potential roadblocks. Tether, for instance, has a history of cooperating with sanctions and freezing assets associated with blacklisted individuals.

Venezuela's past attempt at a cryptocurrency solution also casts a shadow. The nation launched a state-backed oil coin in 2018, but a corruption scandal ultimately derailed the project.

Despite these hurdles, Venezuela appears determined to explore crypto's potential in oil trading. The success of this strategy remains to be seen, but it reflects the nation's desperate need to maintain oil exports, a crucial source of revenue.

NFT’s

@epicrubia

Hoops and Hydration: Rumble Kong League Scores Gatorade Deal

Calling all ballers and mobile gamers! Get ready to hit the court with a refreshing twist as the upcoming mobile basketball game Rumble Kong League announces a partnership with the iconic sports drink brand Gatorade.

This collaboration brings the world of Gatorade to the fingertips of Rumble Kong League players. A virtual "G-Machine" vending machine will be integrated into the game, allowing players to use earned in-game currency to unlock exclusive digital collectibles. These collectibles, featuring Gatorade branding, won't just enhance your player's look—they can also be worn while exploring the open-world environment within the game.

The news comes ahead of Rumble Kong League's anticipated summer launch for iOS and Android devices. The game leverages blockchain technology and has garnered significant attention in basketball. Rumble Kong League boasts endorsements from NBA stars Paul George and Steph Curry, adding another layer of excitement for basketball fans looking to experience a new mobile gameplay.

This partnership between the Rumble Kong League and Gatorade represents a unique convergence of the physical and digital worlds. Players can compete on the virtual court and engage with a brand they know and love in a whole new way.

Supercell Joins the Crypto Craze: Invests in Games for a Living

In a move signaling the growing interest in blockchain gaming, mobile gaming giant Supercell, the company behind hits like Clash of Clans and Clash Royale, has invested $3.2 million in Games for a Living (GFAL).

Founded by gaming industry veteran Trip Hawkins (the founder of Electronic Arts), GFAL is developing games that incorporate NFTs (non-fungible tokens) and crypto tokens. This investment from Supercell, alongside contributions from other industry figures like Mitch Lasky and Heinrich Zetlmayer, will allow GFAL to expand its development team and accelerate game production.

The news comes on the heels of GFAL's soft launch of their title, Elemental Raiders, in select regions. While details remain scarce, the studio reports "steady improvement" in the game's performance since its launch in March 2023.

This investment by Supercell is a significant development for the play-to-earn gaming space. It suggests that established gaming companies are noticing blockchain technology's potential in the gaming industry. With fresh funding and industry veterans at the helm, GFAL is poised to be a major player in the evolving world of crypto gaming.
 

Crypto Gaming Roundup: Notcoin Launch Nears, Big Rewards from Immutable, and more!

Notcoin Nears Launchpad: Remember Notcoin, the viral Telegram-based game with its much-anticipated token launch? Well, mark your calendars! Originally slated for April 20th, the official launch of the NOT token is expected to happen "in the next couple of days," according to the game's co-creator. This brief delay gives the development team extra time to ensure a smooth rollout.

Dive into Immutable's "The Main Quest": Calling all gamers! Immutable is pulling out all the stops to attract players to its new zkEVM network with a massive $50 million rewards program dubbed "The Main Quest." Players can snag juicy token rewards for activities like playing games, interacting with apps, and contributing to the network's liquidity.

Surprise Release from Charles Hoskinson's Studio: In an unexpected turn of events, a gaming studio affiliated with Cardano founder Charles Hoskinson just launched a new sci-fi shooter titled "Voyager: Ascension." However, the game is on GalaChain rather than Cardano's network. While the reasons behind this choice remain unclear, it's an interesting development.

Beyond the Headlines: The crypto gaming space continues to buzz with activity! Here's a quick peek at some other noteworthy news:

• Animoca Brands Joins Forces with Square Enix: A new collaboration between Animoca Brands Japan and video game giant Square Enix is helping to boost the global marketing and adoption of the Symbiogenesis game and its NFTs.

• Puffverse Takes Flight on Ronin: This play-to-earn party game is migrating from BNB Chain to the Ethereum scaling network Ronin and recently secured $3 million in funding led by Animoca Brands.

• InfiniGods Secures Funding: The mobile gaming studio behind the popular King of Destiny game has raised $8 million in Series A funding.

• MetalCore Integrates Play-to-Earn: Fans of the Ethereum mech shooter, MetalCore, rejoice! The game is adding quests that allow players to earn valuable MON tokens.

This is just a glimpse into the dynamic world of crypto gaming. Stay tuned until next week for more updates as the space evolves!

@Vagabondxyz 

ZENTRY

The Gaming Superlayer

Zentry, formerly known as GuildFi, is the Gaming Superlayer, which aims to bring the MMORPG experience to real life, uniting three billion gamers worldwide within a unified Play Economy spanning digital and physical domains. This Superlayer integrates loyalty programs, gamer identities, and cross-platform activities from various games into a singular overlay experience. Within this realm, individuals can craft enduring, dynamic avatar profiles that progress in status, individuality, and tangible wealth through engagement across diverse ecosystems. 

Zentry facilitates connections and rewards among diverse communities, including gamers, investors, and NFT collectors, each with a distinct role, such as connecting, playing, and accruing rewards that resonate with their unique lifestyles. Zentry stands as a gaming universe surpassing conventional DAO structures, characterized by a narrative-rich and evolving product ecosystem, aiming to enrich lives through the Gaming Superlayer.

The Ecosystem comprises the following integrated core verticals:

1. The underlying blockchain infrastructure bridges Web2 and Web3 data encompassing identity, asset, and activity.

2. A suite of targeted consumer apps designed to onboard various player segments.

3. A multiversal IP world that deepens engagement through compelling narratives and collaborative IP partnerships.

4. A robust treasury exceeding $100 million is earmarked for strategic expansion and fueling ecosystem incentives.

GUILDFI

GuildFi is the interconnected Web3 ecosystem of games, NFTs, and communities, intending to maximize players’ benefits and enable interoperability across the metaverse. We solve the discovery and access problems for players while enhancing their performance and maximizing their rewards. Players’ engagement and achievement are no longer discarded and limited to specific guilds or games; they contribute towards their ranks and elevate their lifetime benefits.

Here’s what the GuildFi (now Zentry) platform consists of:

• GuildFi ID: GuildFi ID is your Metaverse ID embedded with a leveling system that tracks players’ achievements and footprint across the Metaverse. Players receive engagement points and ranking, translating into the rewards they deserve.

• Game Discovery: GuildFi helps players discover curated games, and game creators discover the right player base for their game launch.

• Proof-of-Play Rewards: GuildFi enables play-to-earn on any game by analyzing your lifetime activities and giving you the right benefits, whether it’s an allocation to an NFT campaign or a bonus yield from our tokens.

• Metadrop Launchpad: GuildFi offers a special NFT & token deal from our partners where players’ ranks determine an allocation. The first time that you can put the right resources to the right people

• GameFi Tools: GuildFi enhances players’ performance by providing gaming tools. For instance, our Axie Infinity toolkit’s features include scholarship management, daily SLP shares, PvP simulation, team status, and card explorer.

• Scholarship Portal: The GuildFi platform offers a built-in scholarship program aggregated from our treasury, partners’ guilds, and connected NFT funds. This reduces the barrier to entry for play-to-earn games and unlocks opportunities for players worldwide.

TOKENOMICS

On April 25th, 2024, the $GF (GuildFi) token started migrating to the new $ZENT (Zentry) Token with a split ratio of 1:10. Users/Token Holders have until August 25th, 2024, to complete the token migration, which is vital to powering the multiple pillars within the Zentry ecosystem.

GUILDFI Tokenomics

• Market Cap - $209,628,856

• Fully Diluted Valuation - $407,297,000

• Circulating Supply - 514,683,035

• Total Supply - 1,000,000,000

THOUGHTS

Web3 Gaming has been under development for almost 7+ years, and it looks like the necessary infrastructure is ready to let the games go mainstream - for Web2 gamers. The gaming ecosystem has seen a huge surge in development, and TVL has been off lately. It is prone to increase with more professionals shifting from web2 game development to web3 gaming. In this regard, Zentry could be one of the projects that could change the dynamics of user experience with its suite of products/experiences.

AI

@epicrubia

Microsoft Unveils Phi-3: Powerful AI Models for Everyone

Microsoft is making waves in AI by releasing Phi-3, a new family of small language models (SLMs). These models offer an exciting alternative to traditional large language models (LLMs) by prioritizing efficiency and affordability for specific tasks.

Unlike LLMs designed for broad applications, Phi-3 focuses on targeted tasks, making them more cost-effective. The show's star is Phi-3 Mini, a lightweight model with only 3.8 billion parameters. Despite its compact size, the Phi-3 Mini packs a punch, running smoothly on smartphones and outperforming some of its larger competitors.

This efficiency makes Phi-3 ideal for a variety of users. Startups can leverage Phi-3 Mini for chatbots or data analysis, while individuals can utilize it for tasks like information extraction or basic reasoning.

While Phi-3 isn't open source like its predecessor, Phi-2 remains accessible through platforms like Azure AI Studio and Hugging Face. Microsoft plans to expand the Phi-3 family with upcoming Phi-3 Small and Phi-3 Medium releases, catering to users with more complex needs.

Overall, Phi-3 represents a significant step towards democratizing AI. By offering powerful yet efficient models, Microsoft is opening the door for wider innovation and accessibility in the field.

US Forms AI Safety Board with Tech Titans

The US Department of Homeland Security (DHS) is taking a major step towards ensuring the safe development and implementation of artificial intelligence (AI). This week, they announced the formation of the Artificial Intelligence Safety and Security Board, a high-powered group of leading figures from the tech industry and academia.

The board boasts representatives from some of the biggest names in AI, including OpenAI, Microsoft, Google, NVIDIA, and Anthropic. These industry leaders will collaborate with DHS officials to establish best practices for deploying AI in critical infrastructure sectors. Their focus will be twofold: maximizing the potential benefits of AI while mitigating potential risks.

This initiative comes amid a growing global conversation about the responsible development of AI. The rapid advancement of this technology has spurred concerns that it could be misused or pose unforeseen threats. The DHS aims to avoid these concerns by fostering collaboration between the public and private sectors.

The board's first meeting is scheduled for early May, where they will begin developing recommendations for DHS on safe AI adoption in essential services. This includes creating a forum for open communication between DHS, industry leaders, and critical infrastructure stakeholders on AI security risks.

The US government's focus on AI safety echoes similar efforts on the international stage. The World Economic Forum recently identified AI as a major global risk, highlighting the need for responsible development.

This new board represents a significant step towards ensuring AI is harnessed for good. The US proactively safeguards critical infrastructure and fosters responsible AI development by bringing together some of the brightest minds in technology with government officials.

AI Shrinks: Apple Unveils OpenELM, Joining the Race for Compact Power

The world of AI is experiencing a shift in focus. Gone are the days of simply building the biggest models. The race is on to create the smallest, most capable AI tools.

Apple recently entered the ring with OpenELM, a collection of eight compact AI models designed for devices like smartphones. Like Microsoft's Phi-3 family announced earlier this month, OpenELM prioritizes efficiency and on-device processing.

OpenELM offers a range of model sizes, some small enough to run offline – a potential game-changer for mobile AI applications. Apple is taking a transparent approach by making OpenELM open-source. This allows users to understand how the models were built and customize them for specific tasks.

This emphasis on smaller, more efficient models reflects a broader trend in AI development. Apple and Microsoft see the potential for on-device intelligence and smarter assistants powered by this technology.

While Apple hasn't revealed specific applications for OpenELM yet, the models could be used to create intelligent assistants capable of parsing emails and texts or offering suggestions based on user data. This aligns with Google's approach of deploying its Gemini AI model on Pixel smartphones.

The competition between Apple and Microsoft heats the AI landscape, offering exciting possibilities for the future of on-device intelligence and user privacy. With both companies focusing on efficiency and user control, consumers can expect more powerful and versatile AI features on their everyday devices.

Cognitive Corner

@DrKavner

The "Everything They Touch Turns to Gold" Illusion

Ever met someone who’s just so charming that you think they can do no wrong? Welcome to the Halo Effect. In the trading world, it’s like seeing a company nail one product launch and thinking every project they touch will be a blockbuster hit. It's like assuming because your favorite actor was amazing in one movie, all their movies must be great!

Here’s a pro tip: Companies, like movie stars, can have hits and misses. Just because a company shines in one area doesn't mean everything it does will turn to gold. To avoid getting dazzled by the halo, take a step back. Look at each investment on its own merits, not just its reputation or a recent success.

By breaking down the stats, checking the facts, following the Weekly Wizdom newsletter’s guidance, and not letting a shiny halo blind you, you can make wiser, more grounded investment decisions. Remember, even the brightest stars can fizzle, so invest with your head, not just your eyes! 🌟💼📉📈

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