GM Digest #114
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
2 Days Left on Backfund STIP
• So far over 59m ARB (92%) has voted “For” on the proposal to backfund over 26 projects who initially passed the quorum but did not pass the 50m ARB threshold in time
• There’s about 2 days left for delegates and ARB holders to vote in the proposal. At this rate, it is highly likely going to pass
• If it passes, $RAM will be the biggest mover due to the Grant/MC ratio. It has already moved from $700k MC from about a week ago to $1.7m MC (still low cap and could still pump hard)
• $RDO, $SVY, $MGP, $DMT, $USH are all other top Grant/MC coins (recommend scooping some if you’re underexposed
Metaquant Closed Down
• @QuantMeta has closed down Metaquant alpha group due to the $MAI MicroAi scam that unfolded and people (partially) blaming him for the losses
• In his latest Twitter long post, he outlined how everything unfolded here:
https://twitter.com/QuantMeta/status/1723291543564439997
• Personally have not been following this closely but Metaquant is one of my favorite Alpha Groups. The quality discussions will be missed
The $CAKE Palooza
• Just as Butter Finance announced they will not be proceeding with their planned launch due to unfavorable $veCAKE design and emissions model, a new player entered the market
• @Skilletcook built by @Equilibriafi team, is an yield-booster and governance aggregator on top of @PancakeSwap
• They have announced their $CAKE Palooza campaign. For users who deposit $CAKE for $sCAKE there will be several advantages. Earn $SKT tokens, which represent 3% of the total supply specifically allocated for this purpose. Receive an airdrop of $NGAD, the DAO that incubated Skillet. Obtain an allocation for the IDO of $SKT, based on the amount of $sCAKE you hold
• After TGE users will have two options, either vest for 6 months or take 40% penaltry and claim right away
Thoughts: An alternative play to Cakepie if you are into farming $CAKE governance aggregator tokens, some juicy yields atm
Geoverse Introduction
• @geoversegame is a top-down resource management RPG built on Solana
• On the recent Solana #Breakpoint2022 they managed to rank #4 in the Games and Entertainment section
• The game is fully on-chain and has features like procedural map generation, map editor and chat functionality, while also having in-game mechanics like skills, crafting, and mining
Thoughts: Solana's scalability and high throughput make it an ideal blockchain for game development
Torus on Base
• @torus_farm is a DEX on Base that offers cashback on trading fees
• Users engaging in swaps on Torus can earn cashback. You can get the entire swap fee refunded, plus a bonus of up to 20 $TORUS in a single transaction. The cashback is earned automatically
• The DEX is a fork of Biswap, one of the oldest DEXs on BSC that also had a cashback system in place
Thoughts: Their yield farms paired with the native $TORUS token currently have some crazy APRs but that is only because of the extremely low liquidity
RocketPool Houston Upgrade
• @Rocket_Pool announced their Houston upgrade to introduce Protocol DAO or pDAO — a fully on-chain DAO to govern the protocol.
• The pDAO will have control over the protocol parameters and also the treasury funds
• Along with the introduction of pDAO, there will also be new features such as allowing users to stake ETH on behalf of node (not just from the node itself) and a new RPL withdrawal address feature that can allow the node operator to supply the ETH for staking and another party to trustlessly provide the RPL for the insurance bond
Smart Pools on Sushi
• @SushiSwap introduced Smart Pools which is integrated directly into Sushi’s UI. Smart Pools are powered by @steerprotocol and is an Automated Liquidity Management (ALM) solution for CLAMMs
• With this partnership, users can now enjoy benefits such as auto-compounding the yields, enjoy better fees, deeper liquidity and permissionless pool creation
Misc News
• @vertex_protocol Liquidity Bootstrapping Auction Starts Nov 13
• $rDPX token contract scheduled to be paused on Ethereum ahead of $rDPX V2 deployment
• @poloniex exchange hacked for $132M
• @SankoGameCorp introduces points campaign (not much details on this yet). Sanko recently burned 182 DMT yesterday
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*