GM Digest #150 — BRC-20 Watchlist
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Sharp Market Retracements
• BTC & ETH fell to $41k & $2.17k respectively, while altcoins are taking further retracements today, experiencing 5-40% drawdown
• Trending narrative coins sustain their ground — BRC-20, Solana, Avalanche, Injective, etc
• We have about 23 days left until 10 Jan when US regulators must finally decide whether to greenlight BTC ETF (ARK Investment and 21Shares)
Restake Finance LBP Live
• @restakefi LBP is live on @FjordFoundry until Dec 20
• The $RSTK token, capped at 100 million, will be used for governance and utility within the ecosystem
• The tokenomics integrate $RSTK into various aspects, including revenue systems, aiming to balance accruing value to users and supporting the protocol
• The revenue model includes a flat 10% fee on EigenLayer rewards, with 5% going to stakers and 5% to the treasury
Thoughts: This could be a good play if you are bullish on the LRT narrative, just time your buys in the LBP wisely. You have 72hrs to do so
Ordiswap Roadmap
• @OrdiswapLabs is an Automated Market Maker (AMM) developed for Bitcoin's ecosystem, using Bitcoin’s Taproot upgrade for advanced scripting
• Its unique AMM model involves off-chain balance states, reducing on-chain transactions, lowering gas fees, and increasing speed
• Ordiswap plans to bridge Ethereum and Bitcoin, allowing asset transfer across chains and introducing the Bitcoin Standard Dollar (BTSD), an overcollateralized stablecoin
• The roadmap includes scaling solutions, stablecoin integration, and supporting CBRC-20 and SRC-20 tokens alongside BRC-20
• TGE coming out this week (18 Dec - 22 Dec)
Introducing Tonka Finance
• @tonkafinance is a platform that aims to improve the functionality and liquidity of BRC20s and Ordinals, offering a lending and borrowing solution specifically tailored to Bitcoin inscriptions
• The platform offers competitive interest rates and staking rewards to attract lenders. It supports a wide range of cryptocurrencies and inscriptions as collateral
Thoughts: If Ordiswap is the 'Uniswap of BRC20', we now have a candidate in Tonka for 'AAVE of BRC20'. If you are bullish on Bitcoin Defi, this is one of the projects you need to keep an eye on
Liquidium Pre-Seed Round
• @LiquidiumFi, another BRC20 lending protocol, has raised $1.25 million in pre-seed funding
• Some of the more notable investors include @ACTAIVentures, @sora_ventures, @BitcoinMagazine, @BTCFrontierFund, @sidedoor_vc and @SpicyCapitalVC
• This funding will help Liquidium develop an on-chain, peer-to-peer lending market for Bitcoin and Bitcoin-native assets
Multibit NFT Bridge
• @Multibit_Bridge announced that their NFT bridge between Bitcoin and Ethereum will be ready in the next 7 days
• Users will now be able to access Bitcoin NFTs with Opensea or Blur allowing Ethereum users to access Bitcoin ecosystem NFTs
• $MUBI has been showing overperformance for a while now doing more than 100x since the start of Dec. The current retracement marks a 31% retracement from its ATH which can be an opportunity for new buyers to get in
Wrapped Protocol
• @WRAPPEDprotocol allows users to trade coins that aren’t on Ethereum by introducing wrapped version of it
• The first product that’ll come out is wrapped TIA (WTIA) which will go live on 20 Dec
• Once the bridge (first product) goes live, revenue share will be introduced where Wrapped Protocol will take 1% fee on deposit & 2% on withdrawal and share utilizes 10% to buyback & burn $WRAP and 20% goes directly to $WRAP stakers
Misc News
• @symm_io just crossed $1B in volume via @ThenaFi_, @IntentX_ and @basedmarkets
• @JuicyPerp Beta Batch #2 just went live with a new reset leaderboard
• @Eclipsefi IDO contribution starting today on Eclipse & SpartaDEX
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*