GM Digest #144 — Red Coin Overperformance
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
The Red Coin Overperformance
• @avax rallies 13% with its token now at $42 while BTC & ETH have pulled back and slowed down. The TVL recently hit $1bn marking ~40% TVL gains during the past 7d
• The move comes after waves of institutions partnering with Avalanche to test tokenization of real world assets
• More details on the catalysts of Avalanche here:
https://twitter.com/Defi0xJeff/status/1730270826300371112
Introducing Merchant Moe
• @MerchantMoe_xyz, a franchise of Trader Joe, is a DEX built specifically for the @0xMantle Ecosystem
• It comes with all the well-known features, like the Liquidity Book, but it also features a new gauge voting and bribe system
• The initial acquisition of $MOE tokens, part of the Merchant Moe project, will be exclusively available to $JOE token holders. The distribution will be in two phases: first, 2.5% of $MOE's total supply is distributed, followed by another 5% over one year
• $JOE token holders must transfer their tokens to the Mantle Network and stake them in mJOE on the Merchant Moe platform to participate
• When $MOE is live, by staking it, you'll earn stablecoin yield through $sMOE and gain voting power as $veMOE. This power determines token allocation to liquidity pools
Poolside Incentive Program
• @Poolside_Party is a DEX and liquidity hub for LSTs and yield-bearing assets on Ethereum, Base and Avalanche
• The DEX is built on an innovative AMM, designed for tokens that accumulate value. It uniquely addresses the issue of rebases and value-accruing events (staking rewards) being lost to arbitrage, a problem common in other AMMs
• They are launching an incentivization campaign called 'Poolside Party.' It is an on-chain points program designed to track the early activity of LPs on the platform
Boost on Blast
• Boost is a protocol that enables you to sell, or leverage farm the Blast airdrop
• The protocol caters to two types of users: lenders who are bearish on Blast L2 and can sell future Blast airdrops for ETH, and bidders who are bullish on Blast and seek to farm the airdrop with leverage
• Boost itself incorporates a spinning mechanism for earning $BOOST points, enhancing the appeal of airdrop farming $BLAST through Boost. Users receive a spin for every 1 ETH lent or bid, leading to random $BOOST points
• Early participation yields more points, as average payouts decrease over time. Super Spins, offered at each epoch's start, reward early depositors with multipliers up to 10x
• BOOST's future includes a significant allocation to airdrop points, governance by $BOOST holders over the treasury, and funds dedicated to supporting the Blast ecosystem and liquidity/development
Thoughts: Finally a protocol that enables those bearish on Blast to profit from it. On the flipside, it also allows leverage for those that want to double down. No matter what you bet on, you still earn $BOOST
Introducing INIT Capital
• @InitCapital_ is a liquidity hook money market allowing users to lend, borrow and access yield strategies with Liquidity Hooks
• DApps can build advanced strategies using liquidity on INIT via Liquidity Hooks such as leverage staking, leverage farming, margin trading and pair trading
• Main features of INIT include:
→ Multi-Silo Position: Meaning that each borrowing and lending position is siloed and that each position is independent of risk allowing DApps to have the flexibility to build various types of Liquidity Hooks on INIT, with a better liquidation system
→ Flash Borrow: Users can borrow asset X and return Y as collateral within a single transaction, unlocking a wide range of Liquidity Hook possibilities
→ LP Token as Collateral: Borrowers and DApps on INIT will be able to use LP tokens as collateral
• INIT aims to be the go-to place for users who are looking to earn some extra yield and the protocol aims to launch on January 2024
Ocean X Optimism
• @oceanprotocol announced their collaboration with @optimismFND and has been deployed on Optimism
• This deployment includes the Ocean Market, developer tools, $OCEAN token bridging and other supported components to be available on the Optimism chain
• Developers on Optimism who are integrating Ocean Protocol’s smart contracts will have access to new data sharing and monetization opportunities, publish data services and to sell data tokens or NFTs at a fixed price
Play of the Day
• $GEC Geometric Energy Corporation, a company leading DOGE-1 Elon Musk moon mission (DesCI Narrative)
• Been covering $GEC a lot lately on the weekly GM Opportunities. The current distribution of holders is nicely distributed, 2.8k holders with top holders already holding over a week+
• GEC has partnered with Paal AI & AigentX and was covered by CoinDesk in an article detailing DOGE-1 moon mission happening in Jan 12 next year
• GEC has heavily retraced from its $3.5 highs to $1.5 due to the overall market retracement. Given the upcoming launch in a month and considering the listing on Bitmart, MEXC, Poloniex (just happened), there’s a good chance that $GEC trends upward
• There could be a future utility that ties in space advertisements to $GEC which would this a lot more attractive (purely speculation based on rumors for now)
Misc News
• @lyrafinance releases explorer for Lyra Chain
• @silentdao_ is currently in the process of letting users into their Discord in batches. Turn notifs on if you want to be early
• @chat3one awarded with a grant from Mantle Network
• @hydro_fi teases incentives for $INJ stakers
• @bakery_swap announced their next Launchpad project — @BitcoinCats1Cat
• @blueprintfi_eth ve(3,3) on ETH, bveBLUE private sale is live
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*