👯 The Rabbit Hole: “Zucc out, bunnies in” in a new web3 game

👯 The Rabbit Hole: “Zucc out, bunnies in” in a new web3 game 🥱 Arco Protocol, an Aptos-based DEX project fails to take off 💥 Huobi's HUSD stablecoin depegs from the dollar, value plummets to 28 cents

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TradeStrike currently has a competition running where some users can get a 100% buy boost when they use Apple Pay. Don't wait, go get your hands on some $VEMP now!

👯 The Rabbit Hole: “Zucc out, bunnies in” in a new web3 game

🥱 Arco Protocol, an Aptos-based DEX project fails to take off

💥 Huobi's HUSD stablecoin depegs from the dollar, value plummets to 28 cents

The Rabbit Hole: “Zucc out, bunnies in” in a new web3 game

An upcoming web3 game features a character inspired by Mark Zuckerberg, cast as a supervillain. The game, called The Rabbit Hole, will be released later this year or early next year.

Metazuckbot is the antagonist inspired by Zuckerberg, he runs ZuckCorp, an evil empire where bunnies (the protagonists from the My Pet Hooligan NFT collection) were imprisoned and forced to mine a cryptocurrency called Karrot. Now that they're free, they're out for revenge. They are joined by the ZuckBots, former slaves of Metazuckbot who have also been set free.

The game promises to be an action-packed adventure, with the player able to help get rid of Metazuckbot and his cronies once and for all.

Funnily enough, the launch of My Pet Hooligan NFTs came on the same day as Meta's earnings announcement for Q3. AMGI Studios, an indie animation technology company, is behind the game. The 50-member team consists of experienced developers who have worked on Call of Duty and Medal of Honor in the past, as well as artists and animators from Pixar and Disney. Yield Guild Games, Emfarsis, Delphi Digital and Bitkraft Ventures have funded the project. Sounds like a mix of all the people you'd want on your team to make a top-notch game.

The game sounds like it will be perfect for anyone who wants to get revenge on Zucc for his various misdeeds (like collecting all of your data and selling it to the highest bidder.) But whether you hate Zucc or not, this game is bound to be full of interesting references to web3 and crypto space, so it's pretty interesting even just from a cultural standpoint. Hopefully, it'll also be fun to play.

Arco Protocol, an Aptos-based DEX project fails to take off

Arco Protocol, which is a project based on Aptos chain, is giving its community an ultimatum - back the project as it is or let it fail.

Arco planned to offer lending and staking services and intended to raise funds on Oct. 29 in an initial DEX offering (IDO), which is a form of decentralized crowdfunding. However, because of network congestion caused by over 300 people depositing on it simultaneously, there was a delay with the $ARC token claim process.

Apart from that, the team revealed that several partners of the DeFi protocol had ended their partnerships because of these technical issues, meaning that the project had lost a lot of credibility.

These errors led to many people losing faith in the project, and now the team is struggling to keep it afloat. The devs have asked the investors and the community whether they should continue working on the project or just let it go. Most people have voted for the project to give them back their funds, as they do not believe in the project anymore. Arco team also complained on Twitter about community members calling them "scammers" and some media outlets hinting that they might run away with the funds.

The devs have not yet announced what they will do next, but it seems like the project is on its last legs.

Huobi's HUSD stablecoin depegs from the dollar, value plummets to 28 cents

Huobi's HUSD stablecoin isn't feeling so stable these days.

The token, which is (or rather was) pegged to the US dollar, has seen its value plummet in recent days, falling to a low of 28 cents.

Huobi was recently acquired by a Hong Kong-based asset management firm called About Capital, which is rumore to be headed up by Justin Sun. While Justin Sun, the controversial crypto entrepreneur, has denied being in charge of About Capital, it's clear that something fishy is going on behind the scenes.

Huobi has recently mentioned that all HUSD will be converted to Tether (USDT) at a 1-to-1 ratio, which means that HUSD's time as a stablecoin is coming to an end. Interestingly, HUSD was launched in September 2019, with its market capitalization briefly peaking at $1 billion in May 2021. However, the stablecoin has failed to capture significant market share and was down to a measly $80 million market cap last month.

HUSD no longer features on Huobi, but the token continues to trade on decentralized exchanges, with MDEX contributing nearly 90% of the daily trade volume. The future of the token is looking very uncertain. With the recent stablecoin bloodbath, it's only a matter of time before HUSD is completely worthless.

So there you have it, another stablecoin bites the dust. Will HUSD be the last? Probably not. But if you're holding any HUSD, now might be a good time to get rid of it.