GM Digest #123 (Jeff is on Holiday)
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Market Pumps After Binance $4bn Fine
• BTC & ETH pumped 2%+ before cooling off and retracing to 0.3%+ while BNB pumped 7%+ due to the news of Binance $4bn Fine
• Bloomberg reported that the United States Department of Justice is contemplating a $4 billion settlement with Binance to resolve its investigation into the company
• CZ 4 → FUD | $4bn Fine | $4bn MC Pump…. Is this a coincidence?
Campie CMP Tokenomics
• @Campiexyz_io introduces $CMP tokenomics, governance token of Campie, the Convex of @CamelotDEX
• The mechanics of CMP is similar to any other pie projects where CMP can be converted to vlCMP and goes through 15 days unlock period to vest to CMP. Users can force unlock by paying penalties to vest faster (starting from 80% and linearly going down across the 15 days period)
• Good thing about CMP launch is that xGRAIL Launchpad plug-in will receive 30% of the IDO allocations. Similar to any other pies, majority of it goes to the converters, in this case mGRAIL
• And yes….. Campie Rush is very very likely coming soon…..
Blast L2
• @Blast_L2 is an L2 optimistic rollup with native yield on ETH and stablecoins. Backed by @Paradigm and @StandardCrypto
• By simply holding ETH or stablecoins in your wallet on Blast, you can earn yield. Blast natively engages in ETH staking to generate yield on ETH holdings. As for stablecoins, when you bridge $USDC, $USDT, and $DAI, they are deposited into protocols like Maker DAO, allowing them to earn yield from T-bills
• Currently, there is an ongoing airdrop points campaign that allows you to earn Blast points by depositing ETH or stablecoins and referring other users. It's important to note that the deposits are currently non-reversible, meaning you won't be able to withdraw until the mainnet launch of Blast on February 24th
• Blast is built by Blur founder @pacmanblur and they have managed to raise $20M in funding so far
Blur Season 2 Ends
• @blur_io Season Two is over and all $BLUR tokens are available to be claimed for the next 45 days
• At the same time Season Three starts, but this time all the rewards will be coming in the form of the $BLAST token (The L2 mentioned above)
• What's also new this time is that 50% or all rewards will go to $BLUR holders in the form of holder points This can create high buy pressure from airdrop farmers for the $BLUR token
• The other 50% will go to Blur NFT platform users. Just as before actions like bidding, listing and lending will be required to accumulate points
Thoughts: For the first time ever $BLUR holders will be able to deposit the token and earn yield paid in $BLAST. This can create significant buy pressure from airdrop farmers for the $BLUR token
Panoptic Raises $7M
• @Panoptic_xyz is an oracle free, perpetual options platform on Ethereum
• Today it was announced that they managed to raise $7M in funding from investors such as Greenfield Capital and HashKey. This brings the total funding up to $11.5M as they previously raised $4.5M from Uniswap Labs Ventures, Coinbase Ventures, Jane Street, and others
• They are currently conducting a closed Beta in phases, allowing only whitelisted users to access the platform. Epoch 2 of the beta has just concluded, making it an opportune moment to sign up on their website if you wish to participate in Epoch 3
Seneca Staking is Live
• @SenecaUSD enabled Staking — Stake $SEN for $sSEN to access revenue share
• Deposits are subject to a 24-hour lockup, users are now able to claim wETH yields daily (for now the yields come taxes accrued from buying / selling activity on $SEN)
Galileo Liquidity Mining
• @galileoprotocol is a luxury asset tokenization platform that mirrors the lifecycle of physical assets in physical Non-Fungible Tokens (pNFTs)
• Galileo partners with AllianceBlock Defi Terminal to bring Liquidity Mining program on $LEOX via providing Univ2 liquidity LEOX/USDT. The program will run for about 1 month starting today
Vega Protocol Perps Live
• @vegaprotocol is a L1 using the Tendermint proof-of-stake consensus mechanism and was designed for crypto derivates trading. The low latency and high scalability of the L1 allows a decentralised limit order book on its blockchain
• Vega Protocol has rolled out its perpetual futures markets on the network. Vega Protocol aims to take this further by introducing permissionless markets via on-chain governance and also allow the community to approve any ERC-20 token for settlements via its governance mechanism
Introducing Gondi V2
• @gondixyz is an NFT lending protocol and has unveiled their V2 introducing a suite of new features
• These features including a Buy Now Play Later (BNPL) scheme where buyers can purchase NFTs using Gondi loans across 150 marketplaces. Additionally, borrowers can also accept buy offers made at other marketplaces or natively at Gondi, to repay the owed amount of a loan and keep the difference
• Other features will include refinancing lock-ups, allowing borrowers to have a flexible principal and loan extensions, allowing for the creation of vaults to bundle multiple ERC-721s and ERC-20s and then borrowing against it, to use Delegate.cash and to perform flash actions
Misc News
• @krakenfx sued by the SEC
• @phantom wallet to allow cross-chain swaps between Ethereum and Solana
• @LybraFinance unveiled 4-point plan in its latest medium article (suggests reading it in full)
• @KelpDAO has released its latest litepaper on Restaking (suggests anyone to read this, especially people who are new to restaking)
Jeff on holiday so things might be a bit slow this week. Have a great one guys
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*