GM Digest #156 — Solana Mooning
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Solana Making Another High
• $SOL has risen 53% for the past 7d with 16%+ increase during the past 24hr alone
• The increase in price can be attributable to waves of institutional partnerships, memecoin run propelled by $BONK, the launch of Solana Saga mobile device, and the AI integration
Introducing Overlay
• @OverlayProtocol is launching as an Exotic Perps DEX on Arbitrum, allowing trading on the future value of virtually any data stream without needing traditional liquidity providers or market makers
• Traditionally, exchanges need liquidity to start markets, and traders need liquid markets to trade. Overlay addresses this by allowing trading against the entire protocol or all $OV holders, not just peer-to-peer
• The $OV Token serves as the settlement currency. The protocol mints or burns $OV when trades are unwound
• You lock $OV to open a position and based on your profit or loss, $OV is minted or burned accordingly
• Beyond traditional and crypto markets, Overlay enables trading on any scalar data stream, meaning anything with a reliable price feed can potentially be a market - from environmental indexes to social media metrics
• After a year in testnet, Overlay is planning to launch its mainnet soon
Reax Hyper-liquidity
• @ReaxFinance V1 introduces hyper-liquidity as an attempt to address the critical issue of fragmented liquidity
• V1 allows for frictionless trading utilizing synthetic assets, meaning users can trade any token, from cryptocurrencies to real-world assets like stocks and gold, with no slippage
• Reax also opens the door for developers to create new products by integrating its synthetic liquidity into dApps. This includes creating perpetual swaps, synthetic lending and borrowing platforms, bespoke option contracts, and structured assets like indices and leveraged tokens
mETH Yield Strategies
• @lendlexyz has added mETH as the latest asset — user can now lend mETH, borrow, and perform recursive borrowing (looping) strategies on Lendle
• Two main strategies that you can employ right now to get 100%+ APR (i) Delta-Neutral mETH (ii) mETH Long
(i) Delta-Neutral mETH: Supply mETH, Borrow wsETH, Convert to mETH → This is DN due to the price nature of mETH & wsETH
(ii) mETH Long: Supply mETH, Borrow stablecoin, Convert to mETH → Since stablecoin is used to buy more mETH, the exposure is Long mETH & Short that stablecoin
Introducing Sturdy Surge
• @SturdyFinance is a borrowing/lending protocol allowing anyone to create a money market for any token permissionlessly
• The team introduced Sturdy Surge to kick off the launch of their V2 which will be launching on January 16 with $800,000+ in incentives and 750,000 STRDY tokens to be airdropped to early aggregator depositors
Misc News
• @AstriaOrg Introduces the Astria Rollup-as-a-Service
• @VaultCraft_io x @fraxfinance Smart Vault with $ARB rewards are live
• @SenecaUSD integrates stEUR from @AngleProtocol
Personal Note
Thank you so much for continuing to read GM Digest on a daily basis. Wish you guys the best — best portfolio, best Christmas, best life!
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*