Five bullet Friday - issue #133

Dear Partners,

   Crypto markets have gained some momentum due to Terra protocol buying large amounts of bitcoin. The world severely needs a stable coin that is not controlled by any centralized entity. Most  stable coins like USDC or USDT are backed by dollars in a centralized entity, which has the ability to censor your transactions. Our auditors are working towards getting the K-1s by April 10th. I request all of you to file for extension, in case K-1s are delayed due to the tax-treatment of protocol migration.

1. One thing our media never talks about is the Federal Reserve's money printing. They would blame inflation on greedy corporations, supply chain problems and now Russia. National average price per gallon has reached an all-time high of $4.33. Oil affects every corner of the market as transportation costs are priced into all commodities. The previous time inflation was this high,  our interest rates used to be 15%.

2. Terra protocol is planning to buy close to $10 billion dollars worth of bitcoin to back their stable coin, UST. So far it was only backed by LUNA. Now their treasury is diversified with bitcoin. Bitcoin serves as a monetary asset similar to gold. I think this is hugely bullish for bitcoin as Terra will become the largest single holder of bitcoin in the world.

3. The SEC has proposed rules, which, if finalized, would require disclosure of climate-related information in registration statements and annual reports on Form 10-K, together with disclosure in Form 10-Q of material changes to such information. This is massively bullish for KLIMA as it allows companies to keep their pledges of offsetting their emissions. This transparency is a great positive step.

4. OHM market price dropped precipitously in the last 2 months. It is still generating a revenue of $10 million dollars per week in bond sales. Hundreds of forks of OlympusDAO emerged and died very quickly. This gave a negative market sentiment to OHM. March 23rd, marks the one-year anniversary since OHM started. OHM has outperformed bitcoin and Ethereum, while having an annual revenue of $1 billion.

5. YGG is steadily acquiring a massive amount of virtual land in Metaverse games. It has recently acquired a massive number of Axies. I am much more at ease holding a guild token, which acts like an index for all Metaverse games. This is a diversified bet on the metaverse. They are expected to announce staking of the tokens in April. I am looking forward to generating income from YGG soon.

Have a wonderful weekend!

Sam Ikkurty