GM Digest #148 — Arbitrum Outage
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Arbitrum Outage
• @Arbitrum sequencer went down for one and a half hour during 10:29 AM EST and resuming at 11:57 AM EST
• “The team is actively investigating, but we can confirm that a sustained surge of inscriptions triggered the sequencer to stop relaying transactions properly”
Rebase on Arbitrum
• @REBASEgg is a M2E (Move to Earn) app with AR features and geolocation, enabling users to explore, collect, and redeem rewards
• Rebase is integrating with Arbitrum expanding beyond its Solana-based origins for the first time
• Rebase's EchoPath Layer is a key component as it tags digital assets to physical world coordinates, enhancing the interaction between virtual and real-world elements
Thoughts: Combination of Move2Earn app and Pokemon Go. I can see how this could do well when mainstream retail consumers return to the market in large numbers
nftperp Raises $3M
• @nftperp, the NFT perpetual futures DEX, has successfully closed a $3 million Series A funding round led by 1kx, with participation from Maven 11, Mechanism Capital, and notable angel investors
• This comes on top of the $1.7M they raised in their seed round back in Nov of 2022
• This funding will advance nftperp's mission to offer long or short positions on NFT collections and introduce innovative features in its upcoming v2 launch
• nftperp combines Decentralized Limit Order Book and Automated Market Maker in its V2 iteration which is currently in testnet, and has an ongoing paper trading competition
Hubble Launch
• @HubbleExchange is an orderbook perps DEX appchain deployed on an Avalanche subnet
• The platform just launched with ETH-PERP, AVAX-PERP, and SOL-PERP markets
• Access requires a referral code from an existing user or being a V1 user or Hubble Passport owner. Users can earn referral codes based on trading volume, limited to 5 per week. Additionally, if you refer a trader, you will earn 6.25% of their trading fees indefinitely
• Deposits can be made from multiple EVM chains, but there is a deposit cap of $3,000 USDC in place for safety
Introducing Manta New Paradigm
• @MantaNetwork introduces the New Paradigm: the only live Ethereum L2 with native yield for ETH and stablecoins. It is currently like and is invite code only
• Manta Network is a yield bearing L2 where Manta Pacific gives immediate token access on the L2 after depositing ETH or USDC on Ethereum in exchange for yield bearing tokens on Manta Network
• Manta New Paradigm is currently having an Early Access program where users can earn yield and Lucky Boxes
Thetanauts V3
• @ThetanutsFi announced the the launch of Phase I of the V3 Incentivized Alpha
• V3 will enable the protocol to transition form being an Option Vault protocol to an decentralized on0chain options protocol focused on altcoins
• Phase 1 will be focused on Traders, introducing users to basic concepts our v3 architecture – including Long, Short, Close, and Boost while Phase 2 will later introduce concepts for Liquidity Providers, where they can generate up to five sources of yield by providing liquidity
• The team also hinted that qualified users who do so may be rewarded following a successful v3 Mainnet launch
Misc News
• @fraxfinance announces collab with @axelarnetwork to support the issuance of Frax-assets on @osmosiszone, @0xMantle, @LineaBuild, @TeamKujira, @MantaNetwork & @Scroll_ZKP
• @Kamino_Finance JitoSOL-SOL LP boosted with 100k of $JTO incentives per month for 3 months
• @Polytrade_fin opens up pre-registration for their RWA marketplace
• @AstriaOrg introduces the Astria EVM — an EVM rollup powered by the shared sequencer network, set to become @CelestiaOrg's activity hub
• @gasdotzip introduces the Gas LayerZero Refuel Bridge and users can now bridge across 37 different chains in 1 transaction
• @pendle_fi teases their V3 whitepaper introducing an on-chain system for margin interest rate swap markets
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*