GM Digest #135
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Powell Comment Pumped The Market
• BTC hits $39.4k while ETH hits $2.16k per Fed Chair Jerome Powell’s cautious, yet slightly bullish comment — “It would be premature to conclude with confidence that we have achieved a sufficiently restrictive stance, or to speculate on when policy might ease.”
• The next FOMC will be in 13 Dec, recent market expectations expect a pause in hikes with 98% probability
Arbitrum Backfund STIP Passed
• Arbitrum DAO has approved a $23.54 million one-time “backfund” to support 26 projects that missed out on its initial round of grant funding (Tally onchain voting)
• Top 5 with the highest Grant/MC are $RAM, $SVY, $USH, $RDO, $MGP with $MGP pumping 18% during the last 24 hr
Rage v2 Public Beta
• Rage V2 public beta is live and anyone interested can get invite codes by joining their discord channel
• V2 currently integrates @GMX_IO v1/v2 and @synthetix_io, with @HyperliquidX, @aevoxyz, @dYdX & more coming soon
• @rage_trade is a cross-chain perp DEX aggregator with account abstraction features
Thoughts: Rage Trade does not have a token yet, although the speculation about it has been going on for quite some time now. I think there are high chances that the token will be launched sooner rather than later. Perhaps when the protocol exits beta
HiYield Launch
• @hiyield_xyz is an U.S.-regulated entity that will offer competitive rates on-chain for T-Bills and a lending market that you can use to leverage up
• Their aim is to later expand the offering with Government Bonds, Corporate Bonds, Asset-Backed Securities and Private Credit Deals
• HiYield will launch on Dec 6 on Avalanche
Sei v2
• @SeiNetwork introduces Sei v2 — an upgrade allowing Sei Network to become the first parallelized EVM allowing for an optimized execution layer that benefits from the tooling and mindshare around the EVM
• This upgrade will allow Sei to be compatible with EVM smart contracts, use familiar apps and tools such as Metamask
• $SEI continues to increase in price, making +150% moves during the last 30 days
Yearn V3 Live on Polygon
• Yearn v3 is now live on @0xPolygon
• V3 introduces Tokenized Strategies, allowing for stand-alone, permissionless, single strategy vaults which allows users to build their own vaults and for those vaults to be composable with the vaults being ERC-4626 compatible
Wildcat Protocol Live
• @WildcatFi is a protocol allowing for undercollateralized, highly customizable and adaptable credit facilities for arbitrary ERC-20 assets. The team announced that the Wildcat Protocol is live on Ethereum mainnet
• The borrowers will be able to select the asset, the maximum capacity, initial APR, collateralisation ratios, penalty rates and also how long before they pay their penalties all before picking their lenders
• The protocol also offers a rebasing debt tokens for depositors, freely adjustable APR and capacity and also a ragequit function
Introducing Last
• @L2_Last is an Ethereum Layer 2 built on the OP Stack while also using @CelestiaOrg as the data availability layer
• Last utilises Celestia’s new fallback feature via their integration with the OP Stack enabling the chain to seamlessly posts roll-up data back to Ethereum during outages, ensuring uninterrupted bridge operations
Misc News
• @IntentX_ reaches $100M in total trade volume
• @astroport_fi launches deepest liquidity pool for the $DYDX token
• @TheTNetwork proposal for $tBTC mint and redemption fees to be reduced to 0% for 60 days
Personal Note
• Today marks the first day of GM Digest solely being on Substack. Given the recent decline in engagement throughout Twitter, I figured diversifying my focus to grow Substack readers could be a better choice
• Note that there’ll also be GM Opportunities #2 out today where I’ll highlight interesting Farming & Degening Opportunities of the week
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*