GM Digest #124 (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
CZ Stepped Down, Richard Teng as New Binance CEO
• CZ steps down his CEO post and handed the torch to Richard Teng. The move comes after CZ and Binance pleaded guilty to criminal charges in the U.S. and agreed to pay $4.3 billion in fines
• Binance also pled guilty to counts of money laundering, conspiracy to conduct an unlicensed money transmitting business, and sanctions violations
• $BNB price took a tumble today (-11%) after the news came out. The entire altcoin market took a large hit today & TVL across every ecosystem have gone down 5-10%
Bunni V2 DEX
• @Timeless_Fi announced that they are building a DEX on top of Uniswap V4. The DEX will be part of Bunni V2 upgrade
• Bunni V1 was a simple ERC-20 wrapper for LP positions built to incentivize liquidity through modified VE tokenomics that rewarded LPs with option tokens
• Bunni V2 is a fully-fledged DEX that offers new features like, gas-efficient LPing in any shape you like, shifting liquidity that automatically adjusts based on TWAP or Chainlink oracle price, and rehypothecation which means tokens while out of range can earn yield on lending protocols like @aave, or yield aggregators like @yearnfi
• The DEX will launch right after @Uniswap V4 goes live
Radpie 2nd dLP Rush
• @Radpiexyz_io is back with 2nd dLP Rush — 150,000 $RDP tokens (1.5% Supply) is allocated for the 2nd dLP RUSH
• By converting $dLP into $mdLP at a 1:1 ratio through the 2nd dLP RUSH, you will receive $RDP tokens from Radpie and a quota for the upcoming RDP IDO
• $mdLP enjoy a share in Radiant Capital's revenue and RDNT emissions without having to manually lock up 5% of lending capital
Wasabi Perps
• @wasabi_protocol is an NFT options DEX that enables NFT holders to earn yield by underwriting options, and allows traders to speculate on NFT prices
• Wasabi has just announced the launch of a fully collateralized perps in partnership with @flooringproto. These perps will be physically settled and backed by μ-tokens, ensuring no counter-party risk
• This collaboration opens the door for traders to farm both $FLC and Wasabi points by trading on the protocol. If you are interested in Early Access you need to sign-up
Thoughts: Interesting opportunity to farm $FLC and $WASABI. For example, you can purchase an NFT and open a short position on the perps if you don't want to be exposed to price action
Intent X Seed Round
• IntentX has successfully closed a $2.5 million seed funding round. The round was led by @Magnus_Fund, with contributions from several digital asset investors and funds
• The seed round also included strategic partnership initiatives with SYMMIO, and Quantstamp for auditing purposes
• @IntentX_ is an omnichain, intent-based OTC derivatives market deployed on Base. Currently, they are running an Open Beta where traders can earn $xINTX tokens as rewards
Thoughts: IntentX is the leader in the Intent Narrative, leading the charge on Intent-based DEX / RFQ space. In order to start earning $xINT, you can try trading on its platform as part of its Trading Loyalty program. Feel free to use my Link for bonus airdrop points
Gloop GMI Token
• @gloopfinance is a GMX focused yield optimizer on Arbitrum
• Gloop is set to offer two products. The first one is an index token called GMI, which consists of a basket of GMX's GM pool tokens that is algorithmically rebalanced to optimize yield
• The second is a lending/borrowing market that will allow users to take leveraged position on GM tokens, and will involve the minting of a protocol native stablecoin
• There will be a $GLOOP presale soon, and in order to get whitelisted you can either hold a GMX Blueberry Club NFT, or try to complete challenges on Givelab and get it that way
Introducing Parabol
• @parabolfi is a regulatory compliant, permissionless stablecoin protocol which allows users to earn ~5% yields
• Parabol’s stablecoins are backed by Treasury Bills. The yields are generated from the underlying collateral rather than through lending to a third party
• Parabol has just announced its introductory blog, you can mint its inaugural NFT for the lolz or visit its website to sign up for early access
Good Entry Token Launch
• @goodentrylabs announced that they will be conducting their TGE from November 27 to December 4
• The TGE will be on a first come first serve basis and will be launching at a $10m FDV with a $1.5m hardcap. Users can purchase $GOOD tokens with USDC.e and can claim their $GOOD tokens immediately after TGE. Any unsold $GOOD will be burned
• The TGE tokens will be 15% of the total supply with another 5% for community allocation to be claimable by users after the token sale
SEC v Kraken
• @krakenfx reported that the SEC has filed a complaints against Kraken
• The complaint alleges that Kraken operates as an unregistered national securities exchange, broker, and clearing house. Kraken has assured that they will fight to defend themselves and that this complaint will have no impact on their products and their services to users
Kinto as an Arbitrum L2
• @KintoXYZ is an Ethereum L2 rollup designed to accelerate the transition to an on-chain financial system. It features permissionless KYC/AML and native account abstraction to solve the two biggest blockers to mainstream adoption: compliance and user experience
• Kinto announced that they will be launching as an Arbitrum L2. The reasoning behind this is due to Arbitrum having the most market share (over 50%) and Arbitrum having interactive proofs. Other reasons are due to higher TPS and potential savings in tx costs
• Kinto also plans to leverage Arbitrum’s robust DeFi ecosystem to position themselves as part of a broader open ecosystem that is mature and ready for institutional adoption
Sommelier Turbo eETH
• @sommfinance in collaboration with @sevenseas_c and @DefineLogicLabs creates Turbo eETH
• Turbo eETH will primarily provide DEX liquidity on Uniswap V3 & Balancer to eETH-ETH pairs. The vault will also do a small amount of ETH lending on Aave and Morpho as an alternate strategy to diversify its yield sources
• Turbo eETH showcases Sommelier as the source for finding the best risk-adjusted yields on ETH, liquid staked ETH, and now restaked ETH
• Sommelier is an asset management protocol whose mission is to make DeFi more accessible, profitable, and efficient for everyone
Vaultka War
• Vaultka Voting Gaguges start today (Nov 22) — the gauge empowers $VKA and $esVKA stakers with governance control over $esVKA emissions for each gauge
• VKA & esVAK stakers can now earn more rewards from the protocol bribes in each strategy, The bribery reward for the first epoch will be a $5,000 bonus in $GMX and $USDC
• Vaultka price has remained stable within 0.15 - 0.2 range while its TVL has skyrocketed from $10-13m to $17m during the past week
SteakHut Liquidity v2
• @steakhut_fi v2 introduces automated liquidity strategies, permissionless vault creation, composable liquidity distribution, increased capital efficiency, and earn performance fees (for managers)
• Steakhut recently closed its strategic round from Varys Capital, Blizzard Fund, Avalaunch, Hansen — BenQi, SirIronBoots — Camelot, and Coinflippanda — GMX
Introducing AstroMint
• @astromintxyz is an overcollateralized stablecoin protocol built on the @cosmos ecosystem
• Aside from allowing users to mint AstroUSD, AstroMint will enable users to earn rewards via supplying assets to the protocol
• Users will receive a synthetic asset called a Reserve Token which absorbs the volatility of the assets backing AstroUSD while allowing the holders to earn rewards.
• The AstroMint protocol will be taking advantage of IBC bridging allowing users to bridge assets between different chains
Upshot zkML Price Predictor
• @ModulusLabs introduces the largest AI dApp ever built on Ethereum:@UpshotHQ's ZKML price feed
• Upshot is — the — market-leader in the NFT appraisal space. At the product level, this means near real-time prices for over 100 million NFTs (PFPs, RWAs, and more soon), with which enterprising services have used to build marketplaces, indices, lending vaults, and more
• That’s where Upshot’s novel solution comes in: use wildly powerful AI models that ingest complex market data to “appraise” the value of every single NFT, every hour (even the long-tail assets)
• Suggests reading the full piece here:
https://twitter.com/ModulusLabs/status/1727020374322565458
Misc News
• @aevoxyz hits a high of 2k daily active users
• @insrtapp community select shard vaults to be liquidated and proceeds distributed to Dawn of Insrt NFT holders
• @dopex_io sets up temporary swap router for $rDPX
• @tapioca_dao TGE delayed for Feb 24 2024 due to extended auditing
• @CurveFinance hints that crvUSD will be on @aave soon
@SideProtocol x @NibiruChain, extending Side Protocol exchange layer to Nibiru, enhancing liquidity within the interchain DeFi
• @capapult governance proposal to enable dual incentives for the SOLID-axlUSDC and CAPA-SOLID pools
• @DysonFinance $DYSN goes live today on Polygon zkEVM (Tokenomics is also out)
• @SenecaUSD wETH Claims are Live
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*