GM Digest #111
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
GMX STIP Rewards are Live
• @GMX_IO STIP rewards are live since November 8 yesterday. Over the course of 12 weeks, 12 million $ARB tokens will be distributed as liquidity incentives, trading incentives and grant incentives
• The liquidity incentives will be applicable for the GM Pools in GMX V2 to encourage current GLP LPs to migrate to V2
• Additionally, the trading incentives will be used to give traders a fee rebate. This rebate may add up to the total cost of GMX’s base trading fees but never more. Lastly, a portion (2m $ARB) will be reserved for grant incentives to devs and projects building on GMX V2
Thoughts: Good play for GM Pools LP & Trading in general. Don’t suggest buying into the $GMX tokens. While the rev share is there, the pump won’t be as high as the other coins (I’ve shared my Top 10 list of Arb tokens in my recent thread, do check it out if you haven’t already)
Vaultka, Leverage GMX to the Tits
• @Vaultkaofficial offers up to 350% on GMX v2 GM Pools — The ARB incentives have already been distributed on GMX and Vaultka is very well-positioned to leverage on it (literally, and pun intended)
• Users can currently 10x leverage on both ETH-USDC & ARB-USDC GM Pools or also opt to lend USDC to earn 90% APR (rewards highly incentivized by esVKA tokens)
• Soon users will be able to lend ETH, ARB, and BTC. Maintaining exposure to the assets while earning 10-20% real yields (not including esVKA rewards)
• $VKA token itself has seen pretty good price action +20% in the last 24 hours. The token can be used to earn rev share and boost the rewards on leverage (could potentially run higher due to the flywheel)
Thoughts: Vaultka is one of the best leverage farm to leverage on GMX v2 GM Pools — more GMX v2 strategy incoming and more benefits to lenders on the lending side. Will share more alfa on this soon as some things are confirmed internally
Pendle STIP Rewards are Live
• @pendle_fi announced that the $ARB STIP rewards will be starting today where users can earn additional ARB rewards for being an LP in the Arbitrum pools. The $ARB distribution and incentives boost for the pools are determined by vePENDLE holders
• Additionally, there will be a 75% fee rebate given to all Pendle trades including buy/sell of PT & YT, zap in/out of LP, on Arbitrum (paid in $ARB). This will be limited and the amount will be distributed on a first come first serve basis
• The Pendle team will be setting up a dashboard for users to track their ARB rewards and will be able to claim the rewards directly from the dashboard. The distributions will take place every Thursday at 00:00 UTC
Thoughts: $PENDLE best coin. Pendle LP across different markets are looking extremely juicy, especially mPENDLE — definitely a good source of yields to diversify into.
Berachain Testnet
• @SmokeyTheBera one of Berachain's co-founders confirmed today that testnet invites will be rolling out soon
• Invitations will be sent out to protocols that have confirmed their deployment on @berachain from day one
• The Berachain public testnet and mainnet are scheduled to launch sometime in 2024
Thoughts: The hype surrounding Berachain has subsided since its peak in 2022, but it is starting to pick up again recently. The testnet has been confirmed, and the mainnet is scheduled to launch in 2024. This could be a good opportunity to consider getting some exposure, either through bera NFTs or by exploring projects that are deploying on the chain
Fluidity $ARB Grant
• @fluiditylabs announced that they are recipients of $ARB tokens through @Arbitrum’s Foundation grant program
• The tokens will be distributed to the community through utility mining, mainly incentivizing actions like LPing or simply buying a token with fluid assets. These actions will earn you rewards in both $fUSDC and $ARB
• They are also launching a Galxe campaign as part of Arbitrum Odyssey
• Fluidity allows users to access Fluid Assets wrapped in a 1-to-1 ratio. These unique assets offer random rewards when you use them. That includes actions like swapping, sending, purchasing NFT, and so on..
Thoughts: The L3 liquidity chain that Fluidity team is developing, Superposition will make use of the Fluidity wrappers for many of the assets on its platform. Not sure wen…. hope it’s soon (will check for you guys after this lol, I’ll highly likely be helping them on the ambassador side)
Timeswap Dual Rewards
• @TimeswapLabs will use $ARB tokens to boost borrowing and lending activity. Users who deposit will not only receive $TIME rewards from the pre-mining campaign but also earn additional $ARB tokens
• In total 200k $ARB from the STIP will be distributed to Timeswap depositors
• The latest pool to be included in the Timeswap airdrop campaign is the $ARB pool expiring on Dec 22
• Timeswap is a protocol that offers isolated oracle-less pools with fixed-term lending and fixed borrowing cost
Thoughts: Even though the protocol has seen an increase in TVL since the $TIME pre-mine was announced, going from $1M to over $5M in about 3 weeks, the boost from $ARB incentives could see Timeswap TVL grow significantly further
Tenet Protocol x unshETH
• @tenet_org is an L1 EVM blockchain built on Cosmos. It features a unique PoS system that enables staking of different LSDs + native $TENET to secure the chain
• Additionally, there is the native stablecoin called $LSDC, which follows the Liquity model and is also backed by LSDs
• Tenet team just announced a strategic partnership with @unsheth_xyz, which means the integration of $unshETH as one of the LSDs used in the ecosystem
Thoughts: $TENET is one of the tokens that should outperform when the LSDfi narrative gains traction again (which is right about now)
Polygon Labs X Near Foundation
• @0xPolygonLabs is teaming up with @NEARProtocol to develop a zero-knowledge (ZK) prover for Wasm blockchains
• A zkWasm prover will add additional customizability for developers building with Polygon CDK and to give projects additional flexibility to select from a number of provers when building with Polygon CDK, whether that’s launching or migrating an EVM chain, or building a Wasm chain for closer Ethereum alignment and access to liquidity
Near Data Availability Layer
• @NEARProtocol announced their DA layer offering secure, cost-effective DA for ETH Rollups and Ethereum developers
• Near DA is set to launch with their first set of users which includes Madara by StarkNet, Caldera, Fluent, Vistara, Dymension RollApps**,** and Movement Labs
• Devs and projects can now use Near’s Open Web Stack to build on Ethereum while leveraging Near’s modular blockchain development framework
Misc News
• @PrismaFi first epoch voting on emissions is over
• @PlenaFinance is working on integration of @trondao $TRX
• @0xPolygonLabs and @NEARFoundation are working together on a #zkWasm prover
• @FactorDAO announces new refinancing feature
• @SenecaUSD fair launch has ended with 150ETH raised and SEN/ETH liquidity has been added to @CamelotDEX
• $DYDX bridging and staking is now live
• @LidoFinance is now on @BuildOnBase
• @SushiSwap is live on @Filecoin
• @KyberSwap integrates @dappOS_com V2 to offer intent-centric trading UX
• @lulo_finance launches their newest product, Flexlend on Solana
• @SenecaUSD TGE is live for trading on @CamelotDEX
Random Alpha
• All eyes on Nov 9 - 17 as the last period this year for the SEC to improve the 12 Bitcoin ETFs. More huge pumps incoming these were to be approved
• Major projects on Arb have started deploying STIP, many still hasn’t. STIP will be live for the next 3 months, the Arb bull run is just starting. We’re 5 days away from Backfund STIP to wrap up — keep your eyes on RAM as it’s the best Grant/MC project. The token has pumped 2.5x but the MC is still $1m, more pumps to come
• LST hype restarting with $LBR moving from $1 to $1.4 from the past few days — $SEN Seneca, CDP backed by LST is another good low cap LST to bet on
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*