GM Digest #109
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Gensler Getting Paid $1?
• The Financial Services and General Government (FSGG) bill proposes to drastically cut funding to the SEC and other government agencies
• A US lawmaker has suggested that Gary Gensler’s salary be cut from $300k per year to $1 to help limit SEC regulatory “intrusiveness” while forcing the regulator to return focus to its core mission
Severe Eye Burn at ApeFest
• People who showed up to Yuga Labs‘ recent three-day event celebrating a collection of Bored Ape Yacht Club NFTs have reported eye burn, extreme pain and impaired vision from UV light used at the event
• One attender posted, “Woke up in the middle of the night after Apefest with so much pain in my eyes that I had to go to the hospital … Doctor told me it was due to the UV from stage lights. I go to festivals often but have never experienced this.”
• @BoredApeYC has released a tweet saying they’re “aware of the issue”, reached out to the victims, and that these victims represent 1% of the event-goers. They did not even apologize
MetaStreet Vault Cap Increase
• @metastreetxyz is an NFT lending and borrowing marketplace on Ethereum
• Their latest product is $punk_mstETH, a Liquid Credit Token backed by CryptoPunks. Users who deposit $stETH into one of the two CryptoPunks vaults will receive an LCT, which represents their loan position and includes a claim on the yield from the loans
• Currently, the APR for these loans ranges from 7-13%, depending on the vault you choose to deposit into. It's important to note that this APR is in addition to the regular $stETH yield you will be earning
• By depositing you also get a referral code that you can share and earn 5x bonus on interest generated through referred punkstETH
Thoughts: MetaStreet raised $24M in total at an unknown valuation. The protocol is tokenless and has around $9M TVL. IMO this is one of the most slept on airdrops in crypto right now
Kinza Finance Airdrop
• @kinzafinance is a money market on @BNBCHAIN backed by @BinanceLabs
• They recently announced their Airdrop Campaign, in which 5% of the total $KZA supply will be distributed to users who provide liquidity on the Kinza markets. The airdrop operates on a points system, where each day you earn a certain amount of points based on your TVL
• Kinza utilizes veTokenomics allowing stakers to direct emissions, and collect fees and bribes
Thoughts: Kinza currently has $10M TVL so it's getting pretty crowded, however there is possibility for looping your capital to increase points, so might be worth it to park some ETH. Also possible listing on Binance in the future
Citadel Pre-Launch Campaign
• @citadelswap is an AMM DEX and launchpad on Base
• On Nov 6 they announced a raffle campaign on @taskonxyz, where they will be giving away 100 whitelist spots for the upcoming private sale and $1,500 worth of $FORT
• 20% of total $FORT supply will be allocated for the token sale. Upon completion participants will receive 75% FORT + 25% esFORT
• CitadelSwap will have a dual token model inspired by GMX with $FORT and $esFORT both of which can earn fees
Thoughts: A DEX will GMX token model could be an interesting farm-and-dump play, as there won't be too much selling pressure right away, giving you enough time to get out
Wiskers Contract Triggers
• @wiskerstrade is a platform that allows users to execute trades on-chain using alerts set up on TradingView
• Their latest feature called 'Contract Triggers', allows users to set up trades based on specific contract events. For example, you can initiate a trade whenever a specified holder performs a token or contract approval, or when someone makes a transfer of a specific token, and so on
• The next step on the roadmap involves implementing a series of actions. These actions will enable the creation of limit orders, stop losses, and take profits. Further down the line, there are plans to integrate perp DEXes. This integration will allow you to engage in short/long trading using TradingView strategies, as well as copy trading
• Additionally, Nov 2 marked the end of the vesting period for all participants in the public and private sale of the $WSKR token. Currently, the project sits at a market cap of $1.1 million
Thoughts: An interesting tool for trading. I am particularly intrigued by the 'Contract Triggers' feature, as it helps those who do the research to potentially profit by tracking the right wallets and setting up proper triggers
Vaultka x Timeswap
• @Vaultkaofficial have successfully integrated into @TimeswapLabs — allowing users to lend & borrow $VKA by using USDC.e as collateral
• Users will be able to pre-mine $TIME with this $VKA pool soon. Note that when it comes to Timeswap, there’s no oracle risk because this is fixed-term lending (with fixed borrowing cost & loan tenor)
Lybra War has Started
• @LybraFinance is starting the Phase 1 of the Lybra War with Lido offering additional incentives to Lybra protocol users, rewarding those minting peUSD using wstETH
• In addition to the regular esLBR rewards, those who mint peUSD using wstETH will receive further rewards from Lido in the form of stETH
• Phase 2 of the Lybra Wars will offer LST projects the opportunity to bribe Lybra governance token holders to vote to direct more esLBR emissions towards their LST Vault
Ava Labs Lays Off 12% of Staff
• Ava Labs, developer of @avax has announced that 12% of its workforce is being laid off
• The cut down would allow the firm “to reallocate resources to double down on the growth of our firm and the Avalanche ecosystem.” said the CEO of Ava Labs
Rage Trade V2 Aggregator
• @rage_trade introduced Rage V2, the perp aggregator allowing users to trade across multiple perps on multiple chains such as @GMX_IO, @synthetix_io, @HyperliquidX, @aevoxyz and @dYdX. Easy cross-chain trading is enabled through account abstraction by @biconomy
• Rage V2 simplifies and enhances user experience with new features such as gas tank where users only need to deposit ETH or stables to transact on any chain, customized trading route, smart bridging, single sign transactions and aggregated referrals
Notional V3 Live on Arbitrum
• @NotionalFinance announced that their V3 is live on @arbitrum
• V3 now enables fixed rate lending and borrowing, variable rate lending and borrowing and leveraged yield strategies with lending and borrowing available for 12 currencies such as ETH, LSTs, BTC and stables
• The team also teased of more features coming soon such as new Aura leveraged vault strategies, LINK, UNI and LDO collateral onboarding, capacity increase for listed tokens and for Notional V3 to be live on Mainnet soon
Misc News
• @cakepiexyz_io Cake Rush soon…
• @TigrisTrades migrates liquidity to @CamelotDEX
• @cove_fi joins @erc4626 Alliance made up of protocols supporting the development of ERC-4626 standard
• @ObolNetwork announced that the @LidoFinance Simple DVT Module Proposal has officially passed
• @derivio_xyz Mainnet Beta live on @zksync | My thread on Derivio here:
https://twitter.com/Defi0xJeff/status/1721523360180408800
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*