GM Digest #128
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
EmpyrealSDK’s API
• @EmpyrealSDK is a platform that offers a development toolkit specifically designed to onboard traditional developers into the world of Web3
• Next week, they will be opening up the API access for EmpyrealSDK. The v1 release will include the following modules: Telegram Toolkit, Trading Features, Trade Adjustments, Data Streaming, and Wallet Management
• The platform's native token, $EMP, operates on a revenue share model. Currently, the entire token supply is in circulation, but there is a possibility that the supply may increase in the future
Inception OG
• @InceptionLRT is a Layer 2 liquid restaking protocol built on top of Eigen Layer
• There is currently an opportunity for anyone interested to grab the OG role in Inception's Discord. By obtaining this role, you can become a part of the 'Beta Boundless Journey' testnet campaign, where you can earn points and climb the leaderboard
• In order to become an OG, you need to complete couple of quests on @guildxyz
Thoughts: If you believe in the potential of LRTs and want to get involved early, participating in the testnet is a no-brainer IMO. It doesn't cost you anything, and you have the chance to be rewarded for your contribution down the line
Cosmos Inflation Rate Capped
• The Cosmos Hub community has voted to pass the proposal to set the $ATOM inflation rate at 10% from 14% bringing the APR down to 13.4%
• The main reason for this proposal is the argument that Atom’s high inflation rate relative to other L1s is an overpayment for security
• The proposal results came out to be very narrow where 41.1% of voters voted for and 31.9% against, with the remaining votes abstaining or vetoing the proposal. This proposal also had a high turnout rate of 72.6%
New Ponzi in Town on Arbitrum
• @ShekelSwap is a new farm on Arbitrum with some pretty ponzi-degen mechanics designed to curb the emissions of $SHEKEL
• Instead of emitting emissions, the farms emit oSHEKEL which is in the form of options token. The redemption fees will be used to 50% to Treasury, 25% to buyback & burn of $SHEKEL and 25% goes to single staking vaults of $SHEKEL
• The current rewards from single staking $SHEKEL to gSHEKEL is 4.1k% APR — its $SHEKEL token is trading at $60k MC, 70%+ decline from its TGE price
Rodeo 46% APR on USDC
• @Rodeo_Finance is offering 46% APR on its Lending USDC Pool — 23% is Real Yields APR while the rest is Liquidity Mining rewards
• The current utilization rate is over 95% with TVL of $1.2m
TProtocol 4.9% APR T-Bill Yields
• @TProtocol_ allows users to mint rUSTP by depositing USDC on Ethereum Mainnet
• rUSTP will earn 4.9% APR in the form of rebases. Holding rUSTP will also accrue points for $TPS airdrop until its TGE. LPing rUSTP-USDC Univ3 Pool on mainnet will allow you to accrue points much faster
Misc News
• @RocketXexchange’s API releases today. It helps with building multi-chain dapps
• @cosmos proposal #848 passes. The max inflation of $ATOM will be reduced from 20% to 10%
• @osmosiszone chain halts. Devs investigating possible cause
• Indexed DAO, which was hacked for $16 million in 2021, survived two hijacking attempts in recent days by attackers who sought to access the protocol’s remaining treasury
• @PacmanBlur denies Blast Ponzi — explains that ETH yield is generated from Lido & Stables from MakerDAO T-Bill yields
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*