GM Digest #118
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Penpie PENDLE RUSH 7
• @Penpiexyz_io announced the 7th Pendle Rush on Arbitrum
• Users can convert $PENDLE tokens into mPENDLE and automatically get access to a 50,000 vlPNP reward pool on top of the usual mPENDLE rewards ($PENDLE & Trading Fees)
• So far over 23k vlPNP has already been farmed in one day, there’s 27k vlPNP left
• The peg of mPENDLE has improved to 0.95 level due to the recent Ethereum Pendle Rush and now the Pendle Rush 7 on Arbitrum. $PNP price also hits its ATH of $3++ during the past week. About 34% of vePENDLE locked is from Penpie (10.5m vePENDLE)
Pendle War Heats Up
• Pendle war heats up as @Equilibriafi also released PENDLE Palooza
• Users convert $PENDLE to ePENDLE and earns xEQB + $NGAD from @NGADfuture (Incubator of Equilibria & Skillet) + $SKT IDO (Skillet IDO Alloc / Gov aggregator of CAKE)
• So far the peg of ePENDLE has also drastically improved to 0.9 level from the Palooza campaign. About 25% of vePENDLE locked from Equilibria(7.7m vePENDLE). $EQB price has been lagging at $0.15
Thoughts: EQB hasn’t been performing well price-wise likely due to the xGRAIL xGND tokenomics where users have to wait from 14 days - 6 months to fully redeem it back to liquid EQB. This in conjunction with the lack of proper peg on ePENDLE/PENDLE and relatively slow value-accrual (vs Penpie eco) has prevented $EQB price from breaking out beyond its upper bound.
Vaultka Real Yields Program
• @Vaultkaofficial is releasing USDC Real Yields Incentive Program in tandem with ETH, ARB, BTC Lending Vaults & Leverage GM Delta Neutral Strats
• Extra USDC will be used to boost USDC, WBTC, ETH, ARB lending pools + Lender receives GMX ARB STIP Rewards Split from the Leveragoors. This will further push the lending vaults to 30%+ APR in real yields (not counting the esVKA rewards)
• Rewards will go live today on Nov 16
Thoughts: More exciting updates coming, plsVKA with Plutus (in discussions), vaults tailored towards institutional capital / whales, and GLP Index of GM Pools sooooon
TG Casino Presale
• @TGCasino_ is a fully licensed casino entity based in Curacao that provides betting and gambling services on Telegram
• They are currently hosting a public sale for their $TGC token, with 83% of the hard cap reached at the time of writing
• 40% of $TGC supply is allocated for the public presale, and all who invest $5000+ get a special NFT that comes with extra perks and bonuses
• The $TGC token will feature a value accrual mechanism. A percentage of the platform fees collected will be allocated to token buyback. This buyback amount will be divided, with 60% going towards stakers and 40% being burned
ProphetBots Godmode Lite
• @ProphetBots is a Telegram trading bot equipped with an advanced signal-giving algorithm known as Godmode
• Their latest launch 'Godmode Lite' allows users access to a channel where 5-10 Godmode signals are posted each day. To get access you need to hold 300 $PROPHET
• Previously, the algorithm successfully identified tokens such as $GROK, $MILK, $TISM, $LEEROY, $KEKEC, and more, all under $25K market cap
Thoughts: If the algorithm proves to be consistently profitable, this could drive the price of $PROPHET significantly higher. However, that would price out a lot of potential users. Even now, the cheapest access you can gain is through 'Godmode Lite' which costs around $1500 with $PROPHET trading at $5. Interesting to see how this plays out
Good Entry Degen Mode
• @goodentrylabs announced Degen Mode which allows users to leverage 1000x with downside limited to funding rate and an unlimited upside
• The team also introduced share-to-earn referral campaign, share referral codes and earn a share of the funding fees
• Degen Mode has wrapped up the audit with Veridise Security and will be available soon to the public
• Remember to mark your date for Nov 27 - Dec 3 for Good Entry TGE — FCFS with $1.5m Hard Cap at $10m FDV (MC should be around $1.5 - $2m). This is gonna be super hyped and be gone within minutes (NFA DYOR before participating though)
Thoughts: One of the top projects blending in options with perp-like experience for traders to leverage the power of options. Good Entry has one of the most vibrant community of fervent supporters today, high chance this pumps
Introducing Redstone
• @latticexyz introduces Redstone — a Plasma-inspired Alt-Data Availability (DA) chain, built on the OP Stack. Redstone aims to be a cost efficient chain for on-chain games and apps
• Unlike traditional Optimistic Rollups, Redstone posts the data commitment hash instead of posting the input state to L1. Instead, the input state is stored off chain by a DA provider
• There is a permissionless challenge system whereby any users can challenge any commitments and enforce the DA of the chain. Users can do this by submitting a challenge of a data commitment to the DA Challenge contract on L1
MUX Protocol Fee Rebate Program Live
• @muxprotocol announced that their perps aggregator fee rebate is live with 6m $ARB tokens to be distributed
• Traders who open and close positions with the MUX Aggregator will be able to earn fee rebates from MUX, GMX V1, GMX V2 and Gains positions on Arbitrum
• The fee rebates will be distributed to users weekly in $ARB tokens
Introducing Fjord V2
• @FjordFoundry announces their V2 which will be rolled out with an enhanced interface and also new features and with additional features released in stages over time
• Fjord V2 will release on November 24 and introduce 3 new features
→ Token vesting: Automate the distribution of tokens with customizable vesting schedules
→ Buy only LBPs: A new type of price discovery method rather than the traditional buy/sell LBP design
→ Zero Collateral LBPs: Allowing projects to launch tokens with LBPs that require no initial collateral allowing market to determine price dynamically as participation begins
Nocturne V1 Live
• @nocturne_xyz announced that their V1 is live on mainnet and their private vault UI is now accessible on their dApp
• The private UI vault allows users to manage their private assets can currently supports deposits into the private account, transfers to fresh addresses and private swaps/staking
Misc News
• DWF x Kava, DWF Labs will offer strategic insights covering risk management, liquidations, fee structures, traded products, and market maker programs for DEXs built on the Kava Chain
• @ArkhamIntel bug bounty program is live in collaboration with @immunefi
• @mavprotocol supports USDV (Omnichain Stables / Verified USD)
• @binance Japan to list 13 new tokens ($HBAR, $NEAR, $OP, $IMX, $AB, $GRT, $RNDR, $MANA, $EOS, $GALA, $APE, $KLAY, $LSK)
• @zachxbt warns users that the Lendora Protocol team on Scroll will most likely rug users. @libevm later reported that borrowing is paused and users can no longer get funds out
• @SeiNetwork announces @circle_ventures in the Sei L1
• @1inch will stick to its no-swap-fee policy
• @PancakeSwap announced their new Gaming Marketplace aimed to be a hub for gamers, devs and the community to interact and build
Market Pulse / Picks
• $SOL & $AVAX double digits gainz during the past few days SOL is now $67 and AVAX $23 (Validator Demand & Sub-net Launching). Both Eco have seen huge inflow of TVL during the last 30 days
• Arbitrum STIP Frenzy continues with SILO seeing the largest growth of 330%+ TVL gainz during the past 30d. Camelot already 2x’ed its TVL, propelled by the 2m ARB incentives that it received. Pendle, Lodestar, Magpie Ecosystem, GMX, and other ecosystem leaders have also seen continuous increase in TVL
• $CONE continues to be a good levered beta play on $GRAIL given it’s earning fees from managing Camelot ARB incentivized vaults
• Backfund STIP Picks have yet to move in its price, still a good opportunity to get more exposure e.g. $RAM, $USH, MGP 0.00%↑
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*