GM Digest #127
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Bankless Wanna Go Bankfull
• @banklessDAO requests 1.82M ARB for a 12-month campaign empowering worldwide access to @arbitrum
• The proposal is facing a lot of backlash from everybody for obvious reasons:
https://twitter.com/banklessDAO/status/1728042309978132738
Fungify TGF
• @FungifyNFT is an NFT lending and borrowing market with it's native NFT Index token backed by a collection of the biggest and most liquid NFTs
• They just announced that the date for 'The Great Fill' (TGF) will be Jan 24. On the same day the protocol will go live on Mainnet and users will be able to provide liquidity in exchange for $FUNG tokens
• The event will be FCFS for the public, and only select community members will have guaranteed allocation. The hard cap is at 500 ETH, 50% of which will be used to bootstrap lending markets and the other 50% to seed liquidity on Uniswap
• The exact price of the token is not known at the moment, but it will be very close to seed round valuation
Thoughts: Fungify successfully raised $6 million in the seed round, with an estimated valuation of $40 million. This implies that the token price was set at $0.04, considering its maximum supply of 1 billion tokens. Assuming a 10% to 20% increase, the public sale price of the token would range from $0.044 to $0.048
Hyperspace Avax Rewards
• @HyperspaceAvax is an NFT marketplace on Avalanche that is currently running a campaign to reward platform users with $AVAX incentives
• The campaign will be divided into multiple seasons, each lasting 2-4 weeks. Season one recently concluded on Nov 24, and season 2 begins immediately after
• You can earn rewards by bidding, listing, and minting new AVAX NFTs. Furthermore, referring other users will also earn you points
Thoughts: Think Blur farming, but instead of $BLUR you're earning $AVAX tokens. If you had an edge in farming $BLUR, it might be worth giving this a try too. Since there's a fixed amount of $AVAX for each season, starting early is key to maximizing your rewards before it becomes diluted
EthBet Poker Launch
• @ethbetpoker is a decentralized online poker platform with a focus on community incentives. It uses a white-label poker solution by @EvenbetGaming
• The platform is scheduled to go live on November 29th, followed by the presale of the native $EBC token two weeks later. During the presale, 40% of the token supply will be available for purchase
• The $EBC token offers holders a range of bonuses, including a 33% rakeback. Additionally, it can be staked to receive token emissions
Thoughts: This project is incredibly new and carries a high level of risk. Proceed with caution and DYOR before participating
Syncus IDO
• @Syncus_Fi the 3,3 project that hates French people has unveiled its IDO details
• The IDO will run for 5 mins on Nov 25, 2pm EST — 10 E max per wallet | 15% Supply allocated for IDO | No Hardcap
• Still have no idea what the product is but if you hate French people, then this IDO is for you (I’m joking ofc, ape with caution please)
Thoughts: Personally will be aping only a small amount to speculate — 3,3 model doesn’t work with its current design. Having a 2 way bonding mechanism won’t change much. It’ll be a pump & dump unless new mechanics that can incentivize holding is introduced
JOE tokens fully emitted
• @TraderJoe_xyz announced that the $JOE token has been fully emitted with a total supply of 500m tokens
• Programs such as the Liquidity Book Rewards program and other such initiatives will continue to be incentivized via the Trader Joe treasury
Delta Prime integrates GMX v2
• @DeltaPrimeDefi GM Pools integration will go live next Monday (Nov 28)
• Users will be able to create Long, Short, and Delta Neutral leverage strategy however they want on Delta Prime
• Given that GM Pools underlying assets don’t change with each swap but change according to the asset composition, Delta Prime debt-swap feature allows you to change your debt composition, to exactly match it to the composition you have in the pool within one transaction, offering flexible delta control
• Delta Prime is a defi prime brokerage — think Gearbox with exciting strategies and modern integrations on Avalanche & Arbitrum
Thoughts: Will test this out and share some interesting strategies. Given the current ARB STIP incentives, this will be very juicy
Misc News
• @muxprotocol’s MUXLP pool crosses $60M in TVL
• @tracedotfan claim window open until Sunday for the Abu Dhabi GP
• @fwb_network_ tips to go live on Nov 27
• @PlenaFinance integration with @Spartadex_io to bring account abstraction and one-click trading
• @FusionX_Finance x @OndoFinance bringing $USDY on FusionX
• @parallaxfin Governance Proposal for Launch of PLX 6-Month Staking Vault offering 50% APY
• @STFX_IO Secret Vault is live — manager can simply fundraise using the secret vault feature without specifying the asset and direction of their trade
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*