GM Digest #166 — Dymension Airdrop | Sei Alpha
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Dymension Airdrop
• @dymension is launching its mainnet soon. The distribution of $DYM will begin with the Genesis Rolldrop, part of a series of Rolldrop seasons to incentivize users and builders within the ecosystem
• 70,000,000 $DYM, 7% of the total supply, will be distributed as part of Season 1, ending on Jan 21. Unclaimed balances after this date will be reallocated
• 20,000,000 $DYM is allocated for Celestia users, 10,000,000 $DYM for users of Ethereum L2s (Arbitrum, Optimism, Base, Blast), and 17,500,000 $DYM for the Cosmos ecosystem. A further 10,000,000 $DYM is designated for Solana community members
• Acknowledging the role of culture in crypto, 12,500,000 $DYM is allocated to communities of NFT collections like Pudgy Penguins, Mad Lads, Tensorians, and Bad Kids
• Post-genesis, an incentive program will propose allocating 2,500,000 $DYM to users who bridge tokens to Dymension, enhancing the liquidity layer. Users locking whitelisted tokens in the Dymension network will be rewarded with $DYM
• Additionally, a web app is provided for easy token bridging, and users have the option to deposit $DYM and bridged tokens into incentivized liquidity pools on the Dymension Hub AMM approximately one week after mainnet launch
Clearpool Buyback
• Clearpool announced that the Q4 2023 $CPOOL buyback has been completed, utilizing $84,512.98 generated from protocol revenue
• This revenue comes from permissionless pools and an annualized 1% fee paid by borrowers
• Half of the revenue amounting to $42,256.49 was used to purchase 336,009.19 $CPOOL tokens. From these purchased tokens, 50% were burned to reduce total supply, and the remaining 50% were deposited into Rewards
• This activity marks a 250% increase in protocol revenue from the previous quarter, reflecting the revamped tokenomics and improved utility of the $CPOOL token
Radiant Exploit
• @officer_cia alerted that @RDNTCapital is exploited with 1.9k Eth being drained
• The Radiant DAO Council responded by pausing lending/borrowing markets on Arbitrum temporarily while investigating the issue further
• @peckshield further explained that this exploit was caused by a known rounding issue in current Compound/Aave codebase and the exploiter exploited the codebase within 6 seconds of deployment
MultiBit Dual Sided NFT Bridge
• @Multibit_Bridge introduces their Dual-Sided NFT Bridge allowing users to bridge Bitcoin NFTs to Ethereum
• Users will now be able to trade Bitcoin NFTs on Eth NFT marketplaces like OpenSea and Blur
• The team also has plans to expand NFT support to other chains such as Solana upon community request
SEI Ecosystem Alpha
• $SEI Ecosystem has seen a great inflow of activity during the past week driven by the price appreciation & its unique Defi-focused app-chain L1 narrative
• Majority of the hype is the flywheel that originated from $SEI price action skyrocketing + Memes & NFT Szn on Sei. The TVL has been slowly climbing but remains pretty low ~$5m TVL (albeit higher than Cosmos Hub)
• Top plays at the moment
➥ $SEI — The ecosystem token that’s used as gas & overall proxy for Sei ecosystem success… duh!)
➥ $SEILOR — @Kryptonite_fi Liquid Staking token
➥ $SEIYAN — Memecoin
➥ @seiyansnft Top NFT collection that broke @Pallet_Exchange several times (Pallet is #1 NFT Marketplace on Sei). Better to use @Dagoraxyz as it’s much more stable
➥ @webump_ Another Top NFT collection that provides open-source smart contracts specifically designed for the seamless creation of NFTs on Sei. Owning WeBump will get you WL access to almost (if not all) SEI NFT Collections that are coming out
• I’m currently holding about 7 Seiyan NFTs and some $SEI. Accumulating more if floor price retraces to <400 SEI
• If you’re new to Cosmos ecosystem (like Sei) and have no idea how to bridge your capital there. Here are the steps
→ You can use Metamask Cosmos Snap but I would not recommend it as many of the dApps don’t support Metamask Snap yet and you won’t be able to connect to the dApp. Instead I’d recommend @leap_cosmos, @compass_wallet, @keplrwallet (for Keplr you have to add Sei which is a bit more cumbersome manually)
→ Bridge fund from EVM chains to Sei using the official Sei bridge (Wormhole) or bridge from EVM to Cosmos Hub or Osmosis with @squidrouter (Axelar) and perform IBC Swap to Sei directly inside your wallet
→ @astroport_fi has got 99% of the market share on Sei right now so go there if you wanna explore LP opportunities
• @DefiIgnas has also written a great overview guide on Sei Ecosystem Opportunities. Do check his post here:
https://twitter.com/DefiIgnas/status/1741881672335835241
Misc News
• @UniTerminalExt announces partnership with @EmpyrealSDK
• @MYX_Finance is opening testnet to everyone today
• @0xMantle announces winners for the final round of the holiday raffle
• @PrismaFi is introducing grants to encourage and develop the Prisma ecosystem for individuals and teams
• @CurveFinance crvUSD pools on Arbitrum are live
• @Scallop_io announced Phase 1 of Scallop Points — rewarding loyal community members and early suporters
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*