GM Digest #165 — Happy New Year Pump
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Happy New Year Pump
• The entire market pumped kickstarting a good year for 2024 — BTC & ETH pumped by 6.8% & 4.9% respectively, they’re now trading at $45k & $2.39k
• L1s & L2s coins are performing extremely well, especially the newer L1s such as $SEI (+30%), $SUI (+20%), $TIA (+15%), and hyped ecosystems such as $ARB (+15%), $SOL (+10%), $AVAX (+10%)
• Keep your eyes on BRC20 coins, especially the ones on Ethereum as ERC20 e.g. $MUBI, $BSSB, and $ORDS. All 3 have pumped today with $ORDS pumping the highest at 25%+. Capital rotation to Bitcoin Eco coins might happen very soon leading up to 10 Jan
Arkadiko 2024 Roadmap
• @ArkadikoFinance should have a pretty busy year according to their roadmap, and the upcoming upgrades to the Stacks blockchain
• First the Nakamoto Upgrade for Stacks. Expected in Q1 2024, this upgrade will significantly improve block times and overall throughput
• Next, $sBTC Launch. Native Bitcoin on Stacks, which is expected to bring substantial liquidity into the ecosystem
• When it comes to Arkadiko themsleves, they plan a new mechanism where anyone can exchange USDA for STX from Vaults at the 1 dollar price point (minus redemption fees), providing an arbitrage opportunity and supporting peg stability
• Additionally, they will introduce a robust StableSwap pool with healthy APRs for liquidity providers to ensure a balance between $USDA minting and stablecoin liquidity
• Arkadiko will also support $stSTX, an auto-compounding version of STX, as collateral for Vaults
• They also mention that they will be exploring ways to distribute protocol fees to $DIKO holders to establish a strong value proposition for the token beyond governance
5ire Solar Project
• @5ireChain is partnering with MCB Ventures Holdings Co. Ltd. on a major solar energy project in Kinshasa, Democratic Republic of Congo, with an ambitious goal to address the country's acute power needs
• Aimed at providing reliable power in the DRC, the project focuses on sustainability and economic stimulation for local communities
• 5ire's Layer 1 infrastructure will ensure transparency and decentralization in operations, with real-time performance monitoring through IoT and chipset technology
• The project will utilize 5ire Tokens for decentralized financial management within the MCB DAO, promoting cost reduction and long-term sustainability
Introducing Chymia
• @ChymiaFinance is a new DeFi protocol launched on the Filecoin Virtual Machine (FVM) designed to enhance the utility of liquid staking tokens
• On Chymia users can deposit LSTs as collateral to mint $cUSD, creating a stablecoin that's closely tied to the US dollar
• Users can repay their debt in $cUSD, close their vaults, and redeem their collateral at any time
• There is also a stability pool that acts as a "lender-of-last-resort" for the protocol, ensuring solvency and backing of $cUSD. Stability and Liquidity Providers (SLPs) can enhance their returns by depositing $cUSD and potentially acquiring discounted collateral from liquidated vaults
• This protocol is extremely new so exercise caution and as always DYOR
Introducing Haptic
• @HapticFinance is an permissionless exotic options protocol on the Optimism network. The protocol combines automated liquidity management vaults with always on option markets
• Haptic compounds revenue of Uni V3 liquidity provisioning with the premium earned from market making the exotic options. For LPs, Haptic vaults give exposure to automated strategies for exotic options based on a selection of vaults and strategies. For traders, they will have access to exotic options without trusted intermediaries
• There will be several use cases for the Haptic token including governance, staking incentives, rewards for contributors and to drive adoption
Orbit Chain Exploit
• @Orbit_Chain has suffered an exploit resulting in a total of $81.5m in total losses
• The team is currently in contact with exchanges to freeze stolen assets. They are also in contact with security firms and experts to track finds in real life
Introducing TNX
• @TarotFinance introduces TNX — an ultra-high performance orderbook, fully on-chain on Fantom Sonic
• Building on Fantom Sonic will enable their novel limit order book to exist fully on chain while also being decentralized and EVM comaptible
• Some features that is brought by TNX will be account abstraction, advanced order types, low fees, composability, cross-margin collateral and also omnichain deposits with native yields
Misc News
• @JupiterExchange hinted at stocks, forex and commodities being traded on Jupiter in the future
• @MixMobOrigin’s Public MXM MixBot Sale Begins January 11 — get WL in their Discord
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*