GM Digest #113
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Arthur Exchange on Linea
• @ArthurExchange is a native AMM DEX, and the first launchpad on Linea
• After passing the phase one audit with @SolidProof_io a couple of days ago, Arthur Exchange is now live and officially part of @LineaBuild's DeFi Voyage campaign
• The protocol draws inspiration from Camelot not only lore-wise but also when it comes to tokenomics. The $ART token will have a similar design to $GRAIL, it has locking and vesting mechanism, and when converted to $xART you can allocate it to different 'plugins'. Earn revenue share, boost yield from farm emissions, or access to new token sales on the launchpad
Thoughts: Since the project is endorsed by Linea, it’s likely not gonna be a rug like Merlin (hopefully). Participating in Arthur would be a bet in Linea, liquidity is fragmented across L2 and so far Linea Voyage has failed to attract significant traction from buzzing L2 like Arbitrum where bullish catalysts run amok
BoxBet Launch Recap
• @BoxBetApp is a Sports Betting platform on Telegram powered by @azuroprotocol
• Since the protocol launch three weeks ago, they have managed to generate $100K in revenue, part of which (30%) will be used to buy back and burn the $BXBT token
• The revenue comes from 5% bot fee, 5% trading fees, and Azuro affiliate fees
Thoughts: The number of protocols building on top of Azuro is increasing, and that means interacting with them will earn you Azuro points. If you are into sports betting definitely take advantage of this
Plume Network L2
• @plumenetwork is an L2 built on the OP stack, purpose built for tokenized RWAs
• Their aim is to onboard capital and make it easy for RWA issuers to tokenize assets. What's interesting is that their focus in on a wide variety of asset classes like solar panels, carbon credits, private credit, whiskey, art, and more
• Their thesis is that when institutions come, they won't be interested in tokenized treasuries. Instead, they'll be seeking out things that are unavailable elsewhere
• The chain has built-in primitives that enable KYC, AML, OFAC compliance, AA wallets, and on/offramps
Thoughts: An interesting take on the RWA narrative, and a nice chance to be early on this one considering there is no public Telegram or Discord channel yet
Velocore on Telos
• @velocorexyz is launching on Telos with a corresponding airdrop for users on zkSyncEra & Linea!
• Launch and Airdrop will be on Nov 13. Velocore has received grant support from Telos — $50k will be seeded as liq for TVC-USDC
• ~42% of TVC supply will be airdropped to as $veTVC in proportion to the Passport score of zkSyncEra and Linea users
• $50k will be the initial bribe to kickstart the flywheel for veTVC voters. Users can freely bridge VC (from zkSync) and LVC (from Linea) to Telos with LayerZero bridge and form incentivized LPs there
Parallax CALM
• @parallaxfin CALM Governance Proposal has passed with flying colors
• Parallax will now adopt CALM - Concentrated Active Liquidity Management vaults that deploy advanced CLM strategies, leveraging quant models to mitigate IL & arbitrage inefficiencies within liquidity pools
• Vaults will start with deploying capital on Univ3 and will deploy on other AMMs in the future
Raft Paused its Stablecoin Minting
• @raft_fi paused further minting of its stablecoin R due to “security vulnerability”
• The team is currently investigating the issue and will provide the update as soon as they can. Existing users can repay their positions and get their collateral back
• Raft is a CDP that offers $R stablecoin and fixed 8% from R Savings Rate (Yield from DAI Savings Rate). Users can deposit LSTs and mint R 0.00%↑
Introducing ReformDAO
• @ReformDAO, a market maker DAO with a mission to make the crypto market making more accessible, transparent, and equitable for everyone
• Reform is here to make market making available for projects in all sizes. Reform also integrates a trading dashboard where all activities can be traced
• Reform will activate its trading engine in Q4 23, start building the community, advisors & ambassadors, as well as doing its seed & bonding sales → Private IDO & Public Round will be in Q1 24
Near X Eigen Labs
• @NEARProtocol has partnered with @EigenLayer to create a fast finality layer for Ethereum Rollups
• A fast finality layer is a solution that processes Ethereum rollups’ transactions in seconds instead of hours and days. It will also enable secure, low-latency cross-rollup communication
• Additionally, this will also reduce liquidity fragmentation across L2s and allow them to make independent decisions about their sequencers
CoWSwap Introduces Programmatic Orders
• @CoWSwap launched Programmatic Orders which can execute automatically and in perpetuity in accordance to the conditional parameters set by the users.
• This advances the current limit orders and users can now create more advanced order types such as stop losses and TWAP orders, automate DAO payrolls and create/destroy multiple orders in just one transaction
• The CoWSwap team is also having a grants program for builders to build on top of their Programmatic Orders Framework
Poloniex Hacked
• Poloniex — a CEX by Justin Sun has suffered a hack of over $100m
• This incident was discovered when there were suspicious outflows of money from one of Poloniex’s hot wallet tagged as Poloniex 4 on Etherscan
• Justin Sun stated that Poloniex is conducting an investigation and affirms that Poloniex aims to reimburse those funds. He also offered a 5% whitehat bounty to the attacker for returning those funds and has given the attacker a 7 day deadline to accept the offer
Misc News
• @puffer_finance partners with @InfStones — InfStones will assist in optimizing puffer, ensuring a seamless testnet phase, and contributing to a secure, decentralized future for Ethereum’s ecosystem
• @muxprotocol hit $130K in 24H Protocol Fees
• @rabbitx_io referral program coming this month
• @InceptionLRT Testnet Guide is Live (Potential Airdrop Play, Banking on the Restaking hype)
• @ThenaFi_ partners with @ichifoundation for on-chain market making
• @DeltaPrimeDefi partners with @hexagate_, @chainalysis, @atomica_org to beef up the security
• @ButterBoost announced that Butter will no longer be launching due to contributors finding the proposed veCAKE system and incentives model to be impractical for Butter [WTF IS THIS? LOL]
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*