GM Digest #106
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Vaultka GMX v2 Delta-Neutral Strat
• @Vaultkaofficial unveiled Leverage GMX v2 DN Strategy and ETH & ARB Lending Pool to be released on Nov 15
• ETH Pool & ARB Pool will allow ETH & ARB maxis to earn juicy lending yields while maintaining exposure to ETH & ARB
• Vaultka is one of the first (if not the first) protocol to release a Leveraged DN Strategy for GMX v2 GM Pools, allowing users to profit from GMX V2 protocol fees without exposure to price fluctuations. The first pool released for this strategy will be ETH/USDC
Neutra Univ3 Delta-Neutral Strat
• @Neutrafinance announced Delta Neutral Strategy for Uniswap V3 which aims to maximize fee-based earnings, giving liquidity providers the best possible returns
• ETH-USDC → Hedge IL by borrowing ETH on Aave and subsequently deposit it into the Uniswap V3 ETH-USDC pool. Auto-rebalance by utilizing back-tested data on past rewards and fees followed by asset rebalancing within a specific debt ratio
Merkle, Omnichain Perp
• Introducing @merkle_trade, a Gasless Omnichain Perp DEX powered by LayerZero
• Merkle offers a gamified perp trading experience with a heavily optimized UI/UX (both WebApp & Mobile). Users can complete daily & weekly missions, compete in trading competitions, level up & earn loot boxes & pMKL tokens that can be used to unlock future airdrops
• Users can freely deposit their funds from any chain directly to their platform and start trading within seconds
• TGE is slated to be in Q1 2024 — there’ll be some exciting features leading up to the launch e.g. social / copy trading, one-click trade, and maybe… just maybe… something else that’s not Perp 👀
• Disclaimer: I just got onboarded to help advise Merkle, will keep you updated along the way on interesting features & opportunities leading up to the launch next year
Hook Protocol Announces Perps
• @HookProtocol is a NFT options trading platform on Ethereum that will be deploying soon on Arbitrum
• The team will also release Odyssey (Hook V2), which introduces several new feature — traders will be able to buy & sell put options for the first time on Hook, as previously only call options were available.
• V2 also brings orderbook-based NFT Perps, enabling users to trade with leverage of up to 20x. Once Odyssey goes live, Hook Protocol will be the only NFT derivatives exchange that offers both perps and options (puts and calls) under one roof
• Odyssey testnet is coming soon, and it will be incentivized as users who participate will be earning treasure chests as part of Hook's 'Treasure Hunt' campaign
Thoughts: Hook has raised $3 million in funding, although the valuation remains unknown. The treasure chests will almost certainly contain $HOOK tokens. Currently, this airdrop is flying under the radar, meaning it is not diluted. Participating seems to offer a good risk-to-reward ratio. However, whether this turns out to be a profitable airdrop largely depends on how much of the token supply they allocate to the Treasure Hunt campaign
Introducing Ramen Finance
• @ramen_finance is a Berachain-native AMM DEX and liquidity layer with its own launchpad
• The Ramen DEX is powered by a concentrated liquidity market maker (CLMM), and is built on top of Trader Joe's Liquidity Book model. The DEX will be governed by users and will have a vote-escrow token model
• The liquidity bootstraping event will be done through the 'Hungrybera' NFT launch. 7500 beras will be up for grabs, with the funds raised going to team multi-sig to be used for development, audits, and initial liquidity for $RAMEN. NFT holders will be subject to $RAMEN airdrop, boosted allocation on launchpad, and exclusive community roles
• Ramen Finance will have a tri-token system consisting of $RAMEN, $veRAMEN and $xRAMEN. Utility, governance, and launchpad token
Thoughts: A considerable portion of the supply will be airdropped to partner protocol communities and Berachain projects in general, on top of the 24% of $RAMEN supply that is reserved for NFT holders. By owning Honey Comb NFTs, Beras on bikes (Beradrome), or any of the Bera rebases, and minting one Hungrybera upon launch, you could secure a generous allocation of $veBERA. This, in turn, grants you access and a larger allocation on the launchpad, so you can scoop up cheaper coins of projects launching on Berachain in the future
Multi Asset Investment Vehicle
• @MAIV_FINANCE is a fund that invests on your behalf and guarantees you a fixed return of 12% on your investment
• Their focus lies in investing in the real estate and construction sector. Their investments are not limited to owning physical properties alone; they also participate in project development and construction
• Essentially, MAIV eliminates all barriers and allows users to easily invest in the initial funding of projects. This enables them to earn returns through the interest generated on their investment, and potentially additional profits after the project is completed
• Users will need to subscribe using the native $MAIV token, in order to access all MAIV products
Introducing Synapse X
• @SynapseProtocol announced Synapse X which allows for modular bridging. Synapse X routes transactions through external pools allowing wider stablecoin support and the most efficient routes and is currently live with @CurveFinance, @VelodromeFi, @Uniswap and @GMX_IO modules
• This means that stablecoins supported by external pools can be bridged and that new tokens can be added to the Synapse bridge without having to incentivize a new pool. Users will also be able to obtain better bridge quotes
Orderly Live on Mainnet
• @OrderlyNetwork is now live cross-chain on Mainnet powered by LayerZero
• Orderly offers instant plug-and-play liquidity utilizing its powerful off-chain matching engine where all orders are matched, while maintaining self-custody with on-chain transparency
• Traders experience unified liquidity, Builders can fast track their ideas with Orderly SDKs offering pre-built components and interfaces that simplify the development journey
• Orderly Network is an omnichain CLOB infrastructure that unifies liquidity across blockchains. Users can start trading on Orderly-powered DEXs on @_WOOFi, @finance_ref, and @JumpDeFi
Render on Solana
• The @rendernetwork foundation announced that Render Network has successfully upgraded its core infrastructure from Ethereum to Solana
• RNDR token holders can now migrate tokens from the Ethereum blockchain to the Solana blockchain using the Upgrade Assistant (which utilizes the Wormhole cross chain messaging protocol)
• The Foundation has also allocated up to 1.14 million RNDR in grants to subsidize user transfer fees on Ethereum associated with the upgrade and will be in effect for 3 months
• The Foundation believes that this migration will help extend Render Network into new applications, such as machine learning and inference training, and unlock new utility with Solana’s tech stack
• Render Network is a peer-to-peer GPU marketplace that lets users contribute computational power to 3D rendering projects and earn crypto in return
Free Sanko TV
• @SankoGameCorp announced free streaming for all streamers this weekend. The most gifted streamers will win golden glizzies (golden hotdog)
• $DMT has seen a significant token pump since the launch of Sanko TV (at the end of Oct) from $9.3 - $23.4 in price
• The increase in price is due to the purchase of Sanko TV gifts for streamers that are denominated in $DMT
ARB STIP Rewards on Rysk
• @ryskfinance announced that they will begin distributing the ARB STIP rewards starting 3 November and lasting 14 weeks
• The team will be distributing 17.8k ARB weekly to LPs and 17.8k to traders
• LP — anyone with a deposit in the DHV when the weekly epoch is executed will be eligible
• Traders — every contract traded is eligible to earn a share of the weekly grants pool at the end of every epoch (Selling contracts get 80% of the distribution while buying contracts get 20%)
• Rysk finance is a feature-rich options protocol with an advanced user experience for traders that generates uncorrelated and competitive yield in all market conditions for liquidity providers
ARB STIP Rewards on Stella
• @stellaxyz_ is starting the distribution of the 186k ARB incentives that it received from the STIP program
• 120k ARB distributed to lending pool → 7-12% APR for USDC.e & ETH (Hyper) pools and 66k ARB incentives deployed as a 20% additional reward for profitable positions
• The distribution schedule is divided into epochs, where each epoch will last 2 weeks. After each epoch ends, there will be an independent 30 days linear vesting schedule where users can claim their ARB rewards until they receive their full amount at the end of the vesting period
• Stella is a leverage farming protocol that’s known for its Univ3 Concentrated Liquidity Pools & Pendle LP Hypernova strategies
Misc News
• @valoremxyz V1 UI is out of early access, meaning now anyone can trade options on Valorem
• @EspressoTG announces integration with @LayerZero_Labs enabling anyone to deploy OFTs natively on any chain
• @LidoFinance approves proposal to enable Obol decentralized staking module
• @SturdyFinance v2: Isolated lending with pooled liquidity. Create a liquid money market for any asset (in hours), powered by Yearn V3 and zkML.
• @Possum_Labs x @HMXorg, offering upfront yields for HLP pool
Arbitrum Alpha
• Backfund STIP in process where over 25m ARB will be voted to be distributed to projects who have been voted “For” and reached “Quorum” during the recent STIP but did not make the cut before the 50m ARB cut-off
• The Backfund STIP is currently floating as a temp check with the community and likely goes live during the next Tuesday
• The overall sentiment is positive. If it passes then RAM SVY USH MGP GNS and the other tokens are likely gonna get a well-needed incentives for their platform + the tokens will pump. RAM has started seeing positive price action with ~40% increase in price during the last 24 hrs. RAM is the best project with Grant/MC ratio and is one of the most efficient DEX on Arbitrum
• The entire Arb altcoins eco have seen huge pump during the last 24 hours and they won’t stop soon… suggests scooping up some picks before it takes off further (Ofc NFA)
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*