GM Digest #146 — We're Back Up (Again) | LRT Season Incoming
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Markets Back Up
• The Crypto market and several stock indexes have risen after the FOMC meeting on 12-13 Dec — the Fed decided to hold interest rates steady at 5.25% - 5.50% as widely expected
• Further hiking appears to be off the table with Fed signaling 3 rate cuts in 2024 (75 basis points cuts)
• BTC & ETH have increased by 4.5% & 4.0% respectively while BRC-20 coins & alts built around Bitcoin ecosystem experiencing massive pumps 50-100%+
Restake Finance Tokenomics
• @restakefi is a liquid restaking platform built on top of @eigenlayer. Depositors will earn ETH Staking + Re-Staking Yields, while having a liquid receipt token
• The $RSTK token is a governance and utility token with a max supply of 100 million
• The token is used for voting, staking for revenue shares, and enhancing EigenLayer yields. A 10% fee on EigenLayer rewards is split between stakers and the treasury
• The token distribution includes allocations for mining, public sales, strategic partners, airdrops, team vesting, ecosystem incentives, and liquidity reserves
Monad x Wormhole
• @monad_xyz has has made official their partnership with @wormholecrypto, guaranteeing day one cross-chain support for Monad
• Monad is an EVM compatible Layer 1 bringing parallel execution managing 10,000 TPS
Dinero on Mainnet
• @redactedcartel announced that Pirex ETH ($pxETH) has launched on the Ethereum mainnet, introducing a two-token Ethereum liquid staking solution as part of the Dinero protocol, which focuses on creating an overcollateralized stablecoin
• Users can opt for $pxETH for liquidity or $apxETH for increased staking yields. This launch marks the first phase of Dinero's rollout
• Pirex ETH offers a simpler and more flexible liquid staking solution compared to solo staking and other LSTs
Introducing World ID 2.0
• @worldcoin introduced World ID 2.0 enabling individuals to prove that they’re a unique human on the internet while keeping their identities private
• In this upgrade, World ID will have three Levels that enable a wider range of use cases, including Orb+ with face authentication. Lastly, 2.0 will also enable users to return to an Orb to reset their World ID if it gets lost
• World ID introduces Apps allowing integrations to verify online accounts using World ID. Currently new integrations on the Worldcoin App Store include Reddit, Discord, Shopify, Minecraft and Telegram
Thales Token Update
• @thales_io is a protocol which provides an oracle-based automated liquidity solution that is used to create various types of on-chain Positional Markets and have recently had changes to the $THALES token
• Thales Protocol is implementing a direct weekly protocol reward distribution to $THALES stakers in stablecoins
• $THALES token emissions for stakers are also reduced from 105k $THALES a week to only 40k $THALES a week
• $THALES and stablecoin rewards are to be synchronized via a single cross-chain rewards pool across Optimism, Arbitrum, and Base by utilizing @chainlink’s CCIP technology****
• Liquidity Providing into the Thales AMM contracts will no longer be gated by $THALES staking but will be open to the public
• Every profitable weekly round of AMM Liquidity Provisioning will have a 20% performance fee which will complement the 2% SafeBox fee from all executed trades across the Thales Protocol. This fee will go directly to the Protocol Rewards program for THALES stakers
Swarm Open dOTC
• @SwarmMarkets launched Open dOTC — an alternative permissionless platform for trading tokenized real-world assets
• Open dOTC is a protocol that uses a suite of decentralized over the counter smart contracts which remove slippage, instantly settle and reduce credit and counterparty risk by fully collateralizing trades
• At launch, users will be able to trade SwarmX’s tokenized U.S. treasury bond ETFs with tokenized publicly trade stocks to be added later
• Trading fees on Open dOTC is 25bps which are used to buy and burn $SMT via smart contracts
Radiant Introduces sDAI market
• @RDNTCapital introduces the sDAI market onto the Radiant protocol on Ethereum mainnet
• Users can now lend and borrow sDAI on the Radiant Protocol to earn extra yields. Users can now earn 6.11% APR by lending out their sDAI. dLP lockers can earn an additional 4.7% paid in $RDNT tokens by lending and 14% by borrowing
KelpDAO Introduces Early Queue
• @KelpDAO now enables Early Queue for @eigenlayer allowing users to restake stETH, ETHx and mint rsETH now and have their assets automatically restaked once the EigenLayer caps lift on 18th Dec
• Users who restake with KelpDAO will earn EigenLayer Restaked Points and Kelp Miles
Misc News
• @SwaapFinance announces @odosprotocol as launch partner on Arbitrum
• @TimeswapLabs announces a shortlist of tokens for listing and the community can vote on them. The tokens are $VRTX, $PENDLE, $HMX, $NEXT, $STG, $MAGIC and $GRAIL
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*