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Weekly Update 17-07
  • Markets go up, markets go down!
  • Staking news
  • Index vaults
  • Phase 3 update
  • Come share your ideas!
Markets go up, markets go down!

Welcome to our latest FNDZ update

There was plenty of drama in the markets this week. Bitcoin fell below $19000 at times, only to recover to $20500 later in the week. Ethereum also had a mixed week, falling almost 20% at times to $1000, but has since recovered to around $1200.

The market took a sudden drop mid-week when the FED announced inflation of 9.1%, the highest in 40 years. With inflation so high, the FED will have no choice but to raise interest rates again to further tighten the money supply and eat into people's disposable income, although Fed Governor Christopher Waller has talked down a rumored 1% rate hike, to which the markets reacted positively.

Also this week, Celcius Network filed for bankruptcy. Court documents show that Celsius has $4.3 billion in assets and $5.5 billion in liabilities, meaning it has a $1.3 billion hole in its balance sheet.

The company has paid off large amounts of debt, allowing it to recover nearly $1.4 billion in tokens, primarily Wrapped Bitcoin (wBTC) and Staked Ethereum(stETH). Could this be the next MT GOX? Who knows, we'll just have to wait and see how it all plays out....

Staking news

This week, the number of people staking FNDZ on the platform increased by over 1.1 million FNDZ to a total of 5.2 million FNDZ tokens.

Over 23% of the current circulating supply is now included in the staking pool, this is a 7% increase from last week.

Rewards are added daily and you can claim them at any time. However, keep in mind that there is a gas fee for claiming and re-staking rewards. Therefore, it's best to build up your rewards so they don't get eaten up by fees when you claim and re-stake them.

You asked us why it costs more to claim your rewards than to deposit them into the pool. Quite simply, when you deposit into the pool, it's a single transaction. When you claim them, it's multiple transactions because you're claiming multiple tokens. We hope that clears it up for you!

Index vaults

Our index vaults went live last week, and despite the volatility in the markets this week, all vaults are currently in the green.

Best performing vaults

  1. Most Popular: ETH-Heavy;
  2. Best Performance: ETH Heavy;
  3. Most Depositors: ETH Heavy;
  4. Highest total value locked (TVL): ETH-Heavy index.

Overall the ETH Index funds are outperforming the BTC index funds.

This week we also added a support chat to the platform. Some of you may recognize the cheeky guy on the other end :)

So if you have any questions or problems with the platform, you can use the support chat, which you can find in the purple square at the bottom right of the platform screen.

As always, we are focused on increasing TVL and overall usage of the platform. We are increasing our social media presence and have recently started filming some YouTube shorts to raise our visibility and tap into this popular new version of YouTube.

We are also running some ads on various social media platforms to increase awareness of FNDZ and the index vaults.

Phase 3 update

We will launch phase 3 once we get a few things in order. First, we want to increase the number of index vaults by getting other crypto projects to set them up for their communities. We are currently in talks with a few.

We also want to have more traders on board, as this will give our community more choice and attract more users. To achieve our goals, we have been steadily expanding our business development team.

Come share your ideas!

We’re continuing to approach crypto companies with the option to start their own index for their community. Feel free to reach out to the team if you know of any traders or companies that could benefit from launching their own trading or index vault.

Spread the word and tell your friends about FNDZ, the home of copy trading!

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Copy trading, also known as social trading, is a form of portfolio management where traders can copy and execute the trading strategies of more experienced traders using an algorithm. FNDZ is the first DeFi platform that makes copy trading possible from a truly decentralized angle. Read on to learn more.
Vault owners carry out trades on behalf of their depositors. Follow this guide and learn how to trade as a vault owner.
Crypto wallets are your ticket to engaging with the FNDZ platform. Read on to learn about cryptocurrency wallets and how to choose the right one for your needs.
Thinking of opening a FNDZ vault? If you want to earn rewards by benefiting others, this guide is for you. Do well by doing good.
Copy trading, also known as social trading, is a form of portfolio management where traders can copy and execute the trading strategies of more experienced traders using an algorithm. FNDZ is the first DeFi platform that makes copy trading possible from a truly decentralized angle. Read on to learn more.
Vault owners carry out trades on behalf of their depositors. Follow this guide and learn how to trade as a vault owner.
Crypto wallets are your ticket to engaging with the FNDZ platform. Read on to learn about cryptocurrency wallets and how to choose the right one for your needs.
Thinking of opening a FNDZ vault? If you want to earn rewards by benefiting others, this guide is for you. Do well by doing good.

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Copy Trading!