GM Digest #154 — Restaked Rollups | Gearbox PURE
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Introducing Reya
• @Reya_zyx is launching a new type of exchange, which blends CEX features with decentralized execution and settlement. This hybrid model is enabled by the Reya Network, a trading-optimized EVM network developed using Polygon CDK
• The Reya ecosystem consists of two main components
• Reya Exchange: A centrally managed venue with features typical of a CEX, like high-performance orderbooks, customer service, and a user-friendly experience. It will operate non-custodially and execute trades on the Reya Network
• Reya Network: This is a high-performance EVM rollup tailored for trading. It incorporates financial protocols for derivative trading, passive LPing, and governance by future $REYA token holders
• Another aspect of the Reya Network is its ability to host multiple exchanges, potentially creating a connected ecosystem with deep liquidity
• The launch of Reya is planned for early 2024, starting as a perp trading platform that leverages the Passive LP Pool on the Reya Network. Additional features, including the orderbook and governance mechanisms, will be introduced throughout 2024
INIT x Mantle
• @InitCapital_ has been chosen as part of the Mantle EcoFund portfolio, granting it access to a catalyzed capital pool of $200M
• With the support of Mantle's EcoFund, INIT will serve as the foundational liquidity layer, making it easier for protocols to access liquidity and implement various yield strategies through "Liquidity Hooks”
• INIT aims to simplify DeFi activities for users and dApps by providing a centralized liquidity layer for lending, borrowing, and yield strategies, set to launch in January
Spice Blur Farming
• @spice_finance have announced updates for their vaults as part of the Blur season 3 point farming campaign
• During season 2 you could only use the SP-BLUR vault on Spice to farm Blur Points
• In season 3, Spice implemented several changes, with the main one being that the Prologue Vault and Flagship Vault now route to the SP-BLUR vault. This means that they will earn SP-BLUR points along with ETH lending yield
• In fact the best way to farm Blur points now is through the Prologue Vault as it has the lowest fees and allows for leverage farming. However, accessing the Prologue Vault requires a Prologue NFT, which can currently be purchased for 0.08 ETH
Thoughts: This is a great alternative if you want to farm $BLAST without locking your tokens in the multi-sig. You can even leverage up. Just for reference, SP-BLUR's historical APY for Season 2 was approximately 118%. This time, it is likely to be even juicier
Introducing Restaked Rollups
• @eigenlayer introduced restaked rollups in collaboration with @alt_layer
• Restaked rollups are a new category of AVS and EigenLayer enables restaked rollups to have access to pooled economic security, decentralized operator sets and attributable economic security
• AltLayer aims to offer Restaked Rollups as a single bundle so that rollup users can benefit from a single-point integration while benefiting from several new features
Impossible Finance x Stratum Exchange
• @impossiblefi announced that their Early Adopter Offering (EAO) with @stratumexchange is live
• Stratum Exchange is a liquidity layer and DEX on @0xMantle utilizing the ve(3,3) token model
• Users can currently access the Early Adopter Offering and participate in the token sale on the Impossible Finance Launchpad
Gearbox Pure Live for Alpha Testing
• @GearboxProtocol’s Gearbox PURE utilises real, spot assets to create leverage through Margin Trading
• Leverage takers borrow up to 10x(asset dependent) funds against their collateral from Gearbox’s lending pools, which are supplied by the passive lenders
• These funds are held in a Credit Accounts which ensures utilisation only on safe, allowed DEXes like Uniswap and Curve
• PURE routes your trades through DEXes like Uniswap, Curve etc. Which cumulatively have a TVL($6.6B+) 4x deeper than the liquidity available on all perpetuals combined($1.5B+). In turn, leverage traders on PURE get to settle their trades through the most liquid AMMs
Misc News
• @0xMantle transaction volume ATH reached at 200 TPS on Dec 20
• @HxroNetwork announces collaboration with @MeteoraAG and plans to integrate Meteora Stable LP tokens
• @solendprotocol introduced their new lending protocol on Sui — @suilendprotocol
• @SenecaUSD Seneca dApp will go live on 3 Jan 2024
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*