GM Digest #136 — BTC Hits $40k
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
BTC Hits $40k & ETH Hits $2.2k
• Price of BTC hits $40k for the first time since April 2022 — The breakout is still driven by the excitement around BTC ETF
• The alts have followed suit with 5-20% moves across the board — $TIA +12%, $SEI +11%, $PENDLE +10%
Thoughts: Weekend breakouts that’s happening during large tailwinds / BTC ETF catalyst / BTC up-only-mode. Make sure to remember what it feels like in the bull and take healthy profits during euphoria. If this rally sustains, we could see an elongated period of gainz especially on the shitcoins & memecoins on ETH. Good time to be more active again if you have been sidelined
Possum Portals
• @Possum_Labs is a new DeFi primitive with a focus on developing positive sum financial products, hence the name pos+sum
• Their first product are The "Possum Portals". A system that enables users to deposit assets into a Portal, which invests in high-yield strategies on Abitrum, offering upfront yield
• The key component of the Portals system is the Portal-specific Liquidity Pool that contains PSM tokens and a unique asset called Portal Energy (PE)
• Portal Energy represents the total time value accrued by depositors in a Portal. Depositors earn PE based on their stake and can sell PE for PSM tokens
• The upfront yield is paid in PSM but accrued in PE. For example, depositing 100 USDC earns 100 PE, which can be sold for PSM if the APY is 20%, resulting in a $20 payout in PSM
• The Portals are self-sustainable using an internal PE/PSM liquidity pool, not requiring continuous external funding. Sustainability is achieved through initial PSM funding and arbitrage opportunities
• The first portal is live and the initial funding is open for participation
Thoughts: An interesting upfront yield primitive that’s built by core contributors of Flash Stake protocol. In a similar fashion to Flash Stake, Possum uses jargons that make it hard for people seeing this for the first time to grasp the concept right away. Product itself is useful though, especially when they start onboarding more assets on its platform, for now HLP from HMX is the first asset. $PSM is now trading at $1.6m MC, available on both Ethereum & Arbitrum
PSM ETH CA: 0xcb69b067d9d8d6dd1209fe4557c43586e54f9045
PSM ARB CA: 0x17a8541b82bf67e10b0874284b4ae66858cb1fd5
Pear Protocol Beta
• @pear_protocol closed beta has been running for six weeks
• Recent updates to the beta include new features such as managing collateral, detailed trade information, transferring NFTs and trade positions, asset swapping within the app, and an updated UI with chart saving, and customization options
• Next updates include Cross Margin and Intent-Based perps (in collaboration with SYMMIO)
Thoughts: Pear protocol allows users to open Long & Short positions at the same time with just one click. So far, personally not liking the product because when you open DN positions or positions with different exposure, you need surgical precision in being able to change the parameters on a position, partial close, partial TP, etc. Having 1-click trading experience for normies are nice but the target group of people who open multiple positions and adjust their exposures are sophisticated traders and they do this by themselves and Perp DEXes or CEXes
Introducing Chain Mail
• @chainmailerc is a project incubated by @Stoic_DAO and it is a secure and decentralized email service enabling Web 3 communication. Users can send and receive emails directly between their Metamask wallets ensuring privacy and security
• $MAIL — its own native token has been fair launched with 5% buy/sell tax with 1% of those taxes going directly to $ZETA holders. Users will need to hold $MAIL tokens in order to use its email services
• $MAIL is currently trading at $1.2m MCap while $ZETA is trading at $4.4m MCap
High Yields on crvUSD
• @SiloFinance’s crvUSD pool on @pendle_fi received an APY boost on its recent epoch courtesy of Curve Finance's bribe — ~30% starting APY
• @Penpiexyz_io offers 1.9x boost rewards on the crvUSD pool and the current APY is 43%
• The crvUSD yields on Silo Finance comes from the borrowing demand from its crvUSD lending market, $CRV incentives to crvUSD and also the crvUSD utilization and TVL. Due to the max bribes on crvUSD this epoch, the crvUSD pool’s APY has surged
Play of The Day
• $OTSEA has been overperforming so hard in the P2P OTC arena (for some reasons), currently trading at $22.8 MC — I personally exited OTSEA early and bet on $PINT but it did not take off
• Now we have a new interesting play that could be interesting, it’s trading at only ~$2m MC, retracing from recent ATH of $4m a day ago
• Introducing Stealth Deals $DEAL — P2P/OTC that enables private trades and private deals. It’s a platform that offers privacy dex aggregator Railgun, 0x0, Sideshift, Fixedfloat, and Changenow, aggregating liquidity through private swaps
• Private OTC enables users to create and join OTC deals with custom links and QR codes, allowing them to trade tokens across different blockchains without intermediaries or fees
• Stealth Deals offer 3 products
⇢ OTC Counter, generate custom links or QR codes to transact the OTC privately
⇢ Privacy DEX Aggregator, aggregate the best prices and clusters, which are impossible to track
⇢ Public OTC DApp and TG bot, TG bot can be installed in communities similar to the way they have Bobby, and it will have a direct "DEAL" button. If you are signed up on the bot, you can quickly grab good deals. Token holders receive notifications 10 seconds earlier in DMs for the best opportunities
$DEAL CA: 0x7a771a90b8f2a10afd9a75b8e49d646d1139bb98
Misc News
• @dopex_io addresses key community concerns regarding $rDPX V2
• @RocketXexchange update introduces support for tax tokens
• @EmpyrealSDK V1 is live with the following modules: Telegram Toolkit, Trading Features, Data Streaming and Wallet Management
• @goodentrylabs TGE Today (Monday) 12pm UTC
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*