GM Digest #117
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Camelot ARB Incentives LIVE
• @CamelotDEX has started distributing the 3m ARB STIP incentives to 60+ pools over the course of the next 3 months
• Juicy 2-3 digits rewards on a lot of pools e.g. ARB-USDC (250%), SOL-USDC (700%), KUJI-USDC (574%)
Introducing X1
• @okx introduces @X1_Network — a ZK powered L2 network built using @PolygonLabs’s CDK
• X1 will be powered by the OKX platform and OKX’s $OKB token will be used to pay for gas fees on the X1 network
• the $OKB token is currently trading at $58.15 and is up 8% the past 7 days
Thoughts: $OKB peaked at $64.90 the past 24 hours leading up to the announcement and retraced to around $58-59. This was probably a sell the news event considering the rumors of OKX’s own chain launching was widespread across CT as covered in GM Digest #115
Ankr Launches Rollup as a Service
• @ankr introduced Ankr’s Rollup as a Service (RaaS) for OP Chains
• With Ankr’s RaaS, users can now create OP Stack-based L2s exclusively for that specific app or project
• Ankr will be providing services such as end to end engineering with customizations to meet specific needs, rollup infrastructure, development tools and auditing
Arcton's First IPO is Live
• @Arctonhq is a platform that offers users the ability to invest in Swiss and EU IDOs, and trade tokenized shares
• The first IDO just went live, allowing investors to participate and acquire $MNY, a tokenized share of a real-world Edtech company called Money Masters
• The launch valuation is set at $4.8 million, with $MNY shares starting at $0.32. Once $222K is invested, the price of $MNY will rise to $0.36. Furthermore, when the investment surpasses $444K, the price of $MNY will increase to $0.40
•Additionally, for every $550 invested participants get 5 $ARC shares
Thoughts: While the tokenized shares in this IDO may not be particularly exciting, I will be keeping a close eye on Arcton for future deals
RainFi Lending Aggregator
• @RainFi_ is a protocol on Solana that offers NFT lending, borrowing, and BNPL (Buy Now Pay Later) services
• The most recent upgrade to the RainFi platform is the sourcing of loans from other Solana NFT lending platforms like @SharkyFi and Citrus
• If you own Solana NFTs, it may be worth considering borrowing against them. The protocol is tokenless, which means that engaging with it in the early stages could potentially bring rewards in the future
Thoughts: If the Solana ecosystem is going to thrive as many predict, Solana NFTs will undoubtedly gain traction. To capture the potential upside without directly investing in NFTs, get some exposure to native NFTfi protocols like RainFi. The best way to do that right now would be to use the protocol, as that could make you eligible for an airdrop when they do release the token
Upshot Machine Intelligence Network
• @UpshotHQ is a platform designed to create efficient financial markets using advanced machine learning and AI
• They do this through a network of ML models that work together. The network is composed of multiple subnetworks, each with its own objective function. This can range from predicting asset prices to constructing portfolios for optimal risk/return
• On Upshot, there are three key roles. Data providers who contribute datasets that aid in model creation. Alpha miners who validate data (alpha). Developers who build on top of Upshot
• Their 'Proof of Alpha' consensus mechanism aggregates individual contributions and rewards participants based on the usefulness of their insights
• The potential applications of what Upshot is building range from yield-generating strategies to risk management and predictive financial tools
Thoughts: The AI narrative remains strong, and it seems that this trend will continue. This is good news for Upshot, as it suggests that when they eventually release a token, it will likely do well
xNova TGE on Nov 20
• @xNovaToken is building a gasless & perpetual trading telegram bot, powered by @StarkWareLtd
• The Public Sale will begin on Nov 20 and it will be rolled out in phases
• Limited WL sale. To be eligible you need to trade using the bot, and your position will be determined by your trading volume
• FCFS round. Anyone can participate, but you might want to be fast if you want to secure a bag in this phase
Thoughts: More details about the TGE will be revealed closer to the launch. If you’re interested keep notifications on in the next few days
Timeswap STIP Rewards
• @TimeswapLabs’s STIP rewards are live as of yesterday and lenders and borrowers can now earn yields in $ARB and $TIME
• As of now, only the ARB/USDC.e pool have boosted $ARB rewards from the STIP. Lenders and borrowers can now earn 39% and 60% APR respectively
• The rewards decay linearly over 35 days which means that those interested in farming the rewards on Timeswap will benefit from starting early. There will also be more rewards allocated to $ARB and ETH partner pools in the coming weeks
Synonym Finance Testnet Live
• @synonymfinance is a universal cross-chain money market built on @wormholecrypto, @arbitrum and @circle
• Synonym Finance announced that their testnet is live and users can now test their cross-chain money market and complete quests
• There are different quests for users to complete:
→ Social Quest: Complete tasks on @Galxe
→ On Chain Testing Quest: Complete on chain tasks on Arbitrum Goerli testnet
→ Feedback Quest: Provide feedback using the Galxe link
HMX Introduces Customized Index Market (CIM)
• @HMXorg becomes the first Perp to offer CIM, Index Futures trading which is extremely popular in TradFi — it allows users to trade on a basket of related assets, betting on an overall trend while minimizing idiosyncratic risk
• The first CIM is the US Dollar Index Market (DIX) which is made up of 6 major currencies. It seeks to track how the USD performs against a basket of major currencies
• DIX will be comprised of EUR (56%), JPY, GBP, CAD, SEK, CHF — Trading fees is 0.01% of position size and users can earn weekly rewards pool of over $150,000 USD by simply trading DIX or other markets on HMX
Introducing Succinct
• @SuccinctLabs introduces the Succinct Protocol which is an open infrastructure layer allowing ZK development to be more modular and coordinated
• Succinct Protocol is now in its Alpha release and devs can now discover what ZK applications are being built and learn more about the latest advances and use-cases of ZK technology
Misc News
• @SenecaUSD first Nitro Pool on @CamelotDEX the SEN/ETH pair will earn $SEN incentives soon
• @vela_exchange Pirate’s Loot campaign that will distribute 90,000 $ARB in a trading competition is live
• China’s largest game and board company to purchase $90 million worth of BTC & ETH
• @LayerZero_Labs is now live on @MantaNetwork
• @safe introduces new self custody solution — Safe{Wallet} with @Google on @gnosischain
• @ParallelTCG approved for Epic Games Store
• @Equalizer0x Base poised to reduce emissions by 30% this EPOCH
• @OKX_Ventures invested in @KakarotZkEvm a Type 2.5 ZkEVM written in Cairo, a Turing-complete programming language
• @IntentX_ Open Beta Today at 4pm UTC (Nov 15). Trade with IntentX to be a part of Trade & Earn program, netting you $INTX rewards
• @nftperp V2 Paper-Trading Competition goes live today at 7pm UTC (Nov 15)
• High Demand for @GMDprotocol Pseudo DN GMX v2 GM Pools Vaults. Currently offering 10-18% on ETH & USDC
• @opyn_ founders stepping down due to regulatory action taken against opyn by CFTC back in September
• @LayerZero_Labs now introduces ColorTrace allowing fungible tokens to be marked
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*