Rug Radio Recap - January 15, 2023

gm! A Friday night pump across the crypto markets brought the energy back to the timeline which raises the question...Is the recovery starting or is this just a bull trap?

Here's what we've got in this week's recap...

• Rug Radio Updates: 1 Year anniversary, PFP mint details, and more

• Yuga Labs announces the Dookey Dash

• SBF releases an "FTX Pre-Mortem Overview"

• Major cryptos up double digit percentages for the week

January 13th Town Hall

In case you missed it, we hosted our first Town Hall of 2023 where we introduced our listen-to-earn rewards program, creator tiers system, and prop house proposal.

1 Year Anniversary

On Wednesday, we celebrated our 1 year anniversary with a Tweet breaking everything down by the numbers as well as a Space where we also released our PFP mint details!

PFP Mint Announcement

During our 1 year anniversary space, we also introduced the mint mechanics for our PFP drop where we released the entire mint schedule as well as the details for the first wave. Check out the page on our Wiki for all of the info and reach out in the Discord if you have any questions.

Prop House Proposal

On Thursday, we posted our latest DAO proposal for the establishment of a Prop House, a platform created by Nouns DAO, which would allow the RugDAO to easily deploy capital to creators and builders within the ecosystem. If you're interested in reading through the entire proposal, you can view it here.

Voting closes at 7pm EST on January 20 (12:00am UTC on January 21).

Yuga Labs announces Dookey Dash

After releasing the initial trailer for the Trial of Jimmy the Monkey in December, Yuga labs released a thread and video explainer outlining the mechanics of the experience. You'll want to watch the video to get all of the info, but here's some key points...

• On January 17, the free Sewer Pass claim opens for BAYC/MAYC holders, which acts as the access pass for the mint experience and ends on February 8.

• On January 18, the Dookey Dash begins and gameplay opens with the goal of collecting fragments within the game to get the highest score possible.

• You'll also be able to use Apecoin, to buy power-ups that will give you boosts within the game.

• You'll have 3 weeks to play the game and achieve the highest possible score. After those 3 weeks, scores are validated and the person with the highest score gets the key.

• On February 15, eligible passes can participate in The Summoning with your best score determining what it reveals.

SBF releases a "FTX Pre-Mortem Overview"

As the FTX bankruptcy proceedings continue, SBF released a blog post full of the same lies that he told when he made his media tour on Twitter Spaces. Let's look at a few of the claims SBF made and compare them to the facts...

• Claim: "I didn't steal funds, and I certainly didn't stash billions away."

• Facts: A backdoor in the accounting system, a personal loan to a co-owned company to purchase Robinhood shares, political donations, real estate purchases...I'm sure you can think of more.

• Claim: FTX and Alameda were profitable businesses making billions

• Facts: 2021 tax returns showed a $3.7 billion loss since inception

• Claim: FTX could raise liquidity and make it's customers whole

• Facts: Binance was the only buyout offer they received, but they backed out after seeing the financials...That doesn't sound reassuring.

• Claim: In an attempt to distance himself from Alameda, he placed the blame on that arm and claimed that he hasn't run Alameda for the past few years after stepping down in 2019.

• Facts: SBF owned 90% of Alameda and Caroline states several times that decisions were made "at Bankman-Frieds direction" in the SEC complaint.

• Claim: FTX US remains fully solvent and should be able to return customer funds.

• Facts: New FTX CEO, John Ray, already testified in a congressional hearing that FTX US was in fact not solvent...I'll leave it up to you on who to trust on this one.

Gabriel Leydon announced Limit Break's new smart contract that enables programmable royalties, and more, via a staking mechanism.

Polygon will undergo a hard fork to address gas spikes and chain reorganization on January 17.

Moonpay partners with TIME to provide a seamless way to purchase TIMEPieces NFTs with credit cards.

The official Game of Thrones NFTs sold out in just 7 hours, but the reveal of the art brought us back to Pixelmon almost a year ago.

Prominent Neo-Precisionism artist, Grant Yun, and their piece "MEME FACTORY" were featured on Meme Card #52 by 6529 Collections.

Context

• Late Friday night, crypto rallied aggressively in an apparent short squeeze with ETH and BTC briefly reaching local highs of $1,643 and $21,750, respectively.

• The volatility of crypto resulted in lower volumes and floors across NFT marketplaces and collections as traders adjust for the rise in fiat value.

Shoutout to Eda for this review! We appreciate you🫂