GM Digest #142 — Capital Rotation | MGP Dip
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Capital Rotation
• We have seen capital rotation across Bitcoin & BRC-20 Ecosystem → Solana → Avax
• Major L1s coins have been performing really well with $SOL leading charge, $JTO airdrop has kickstarted the airdrop farming craze again
• Considering capital have flown across L1s, we might see rotation to Arbitrum & Optimism in the next 2 weeks especially when Arbitrum is offering ARB STIP Incentives across major protocols right now
Magpie Dip
• $MGP dipped 20% today after ranging at the psychological 0.1 level, now trading at $0.083
• @magpiexyz_io recently launched its Magpie Launchpad where it’ll be hosting its upcoming future SubDAOs such as Radpie (11 Dec), Campie, and Cakepie. We could potentially see third-party launches in the future as well after the SubDAOs launches
• What we’ll see is more value accrual for MGP on allocations on top of its current 20% value accrual of all SubDAOs governance tokens (For those seeing this for the first time, MGP receives 20% of $PNP, $CKP, $CMP, $RDP in the next 2 years)
Hood NFT Raffle
• @wagmicatgirl $HOOD is a meme token with an interesting launch sequence consisting of three phases. NFT Raffle, Fire Sale and Public Sale
• First is the NFT raffle which will take place on Dec 10. In order to get eligible to mint the raffle NFT you need to play the Hood Runner game, get at least 69 pts, and tweet your score. Also, the more you score the higher your chances to win 690K $HOOD tokens
• Next is the Fire Sale. No matter if you won at the raffle or not, if you own a Hood Raffle NFT you will have an allocation in the Fire Sale. 1 NFT = 2 Lots. The sale will be conducted in 'lots' with each being equivalent to 460K $HOOD. The price per lot will be same for everyone
• Last up is the Public sale where users can buy $HOOD with ETH, with the final price being determined by the total amount of contributions
Increment Peripheral Contracts
• @IncrementHQ, a decentralized perpetual swaps protocol, is developing peripheral contracts for its deployment on the zkSync mainnet. The system is inspired by Aave's design and includes two main mechanisms
• Token Emissions for LPs with early withdrawal penalty: This mechanism rewards with additional tokens besides trading fees
• Safety Module with multiplier and auction: Modeled after Aave's safety module, this feature allows for reward accrual and distribution for staked tokens, and the auctioning of a percentage of staked funds in case of insolvency. Stakers secure the protocol in exchange for a base APR in reward tokens, with a multiplier score that can increase APR depending on deposit amount and duration
•The peripheral contracts are scheduled for a security audit in Q1 2024
Aark Trading Competition
• @Aark_Digital is hosting a Trading Competition with a chance to win up to $2,000 each week. The competition runs from Dec 13 to Jan 10
• Each week rewards will be distributed among the top traders, split into two categories: Top 5 Based on Profit and Loss (PnL) and Top 5 Based on Trading Volume. Winners will receive their rewards in USDC directly on Aark Digital
• Participants also have the opportunity to earn additional $AARK tokens on top through the ongoing Token Mining campaign
Seneca Audit Completed
• @SenecaUSD audit on CDP infrastructure has been completed. The audit will be shared with the community next week and the dApp launch will follow soon after
• The staking APR will be boosted as we get closer to the launch. $SEN price has recently pumped 18% since yesterday but the MC is still low at $2m
Introducing Pudgy World
• @pudgypenguins announced their Pudgy World Alpha powered by @zksync to be released Q1 of 2024
• Pudgy World will be the digital experience catered to the public and will be their touchpoint to NFTs and the blockchain. Pudgy Toy holders can scan the included QR code, make an account, redeem its traits, and customize their Penguin
• The team will also be ramping up their IP licensing marketplace with @OverpassIP
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*