GM Digest #174 — BTC ETF Approved | Infrared Berachain | Eigen Hype Continues
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
BTC ETF Approved
• 11 BTC ETFs have been official approved by the SEC — The ETF allows US investors to get direct exposure to Bitcoin price without having to self-custody or buy it themselves
• BTC & ETH pumped by 2% and 10% respectively with altcoins following suit. ETH, L2s, and ETH Levered Beta Plays show outperformance e.g. $ARB (+21%), $MNT (+25%), $RSTK (+66%)
Introducing Infrared
• @InfraredFinance is a new intent-centric protocol designed to simplify interaction with the Berachain ecosystem, particularly its Proof-Of-Liquidity (PoL) consensus engine
• Infrared provides a framework for BGT stakers and liquidity providers, offering enhanced rewards through a simple interface
• The goal is to become a leading network of validators in the PoL system
• The protocol will have a native fee-earning token called $IRED, and there will be no deposit or withdrawal fees, just minimal performance fees
• Infrared is supported by the @berachain Foundation and developed under the Build-a-Bera program
• The platform is undergoing security audits and will launch alongside the Berachain mainnet. More details about its governance token $IRED will be shared soon
Chromatic Mainnet
• @chromatic_perp is a perp DEX on Arbitrum offering unique features like partitioned LPs and guaranteed pay out
• They are currently in the testnnet pahse which launched in November, and are about to deploy on mainnet in February
• On launch there will be a 'Trade Reward Program' encouraging active trading, a 'Referral Program' incentivizing user expansion, and an 'LP Reward Program' aiming to boost liquidity
• $CHRMA tokens will be distributed as rewards in all these programs
EigenLayer New LSTs
• @eigenlayer is expanding its ecosystem by introducing three new LSTs: Frax Ether $sfrxETH, Mantle Staked Ether $mETH, and Liquid Staked Ether $LsETH
• Restaking activities are resuming with a cap of 200k ETH for each new LST, starting from January 29th
• These tokens bring unique features: $sfrxETH offers a two-token system benefiting from validator income, $mETH provides a high APY through Mantle's staked ETH, and $LsETH incorporates staked ETH with rewards and high security
Thetanauts x Coinlist
• @ThetanutsFi announced that they will partner with CoinList to bring the v3 Incentivized Alpha to CoinList users
• V3 will focus on trading and liquidity provisioning and users will be eligible for $NUTS rewards based on their trading volume and TVL contribution
• Thetanuts is a decentralized on-chain options protocol focused on altcoin options. Thetanuts has previously raised $35m from Top Crypto VCs in Seed & Series A rounds
• ALPHA: Thetanuts is the 2nd largest on-chain option platform — details on Airdrop has yet to be announced but the earlier you’re in interacting w/ the platform, the more rewards you’ll get (whether if you’re trading or providing liquidity)
ARB Incentives on WOOFi
• @_WOOFi, a top cross-chain DEX announced that they are set to receive 1m in $ARB STIP allocations
• The ARB tokens will be allocated to vault depositers, $WOO stakers and users who perform cross chain swaps
• WOOFi will also be using the ARB tokens to reward random wallets that deposit onto WOOFi Pro via Arbitrum and trade $250 volume in the same week. Additionally, 25 users who cross-chain swap any asset from any chain into $10 or more of the featured project’s token of the week will be picked to each win 230 ARB. There is also an allocation for Arbitrum-specific quests in partnership with Layer3 and for builders who integrate the WOOFi widget
Hypr Network Going Modular
• @hypr_network announced that they are going modular with @CelestiaOrg
• This integration allows game developers and players on the Hypr Network to have cheaper transaction fees, allows devs to experiment and build on chain games more quickly and allow the network to scale for activity growth
• Hypr Network is an L2 that helps game developers improve game building by offering easy to use SDK's that implement zero knowledge technologies
Y2K Finance Introduces Turbo Option Vaults
• @y2kfinance introduced their Turbo Option Vaults to be launched later this month
• Turbo Options are call/put like options that uses the same deposit asset as the speculation asset or hedging
• Turbo Option Vaults are less expensive than perps, give a higher payoff potential than leveraged positions and offer cheaper hedged risk
Misc News
• @PopsicleFinance announced that WAGMI is live on @metisDAO
• @synthetix_io’s $SNX can now be bridged to @base
• @BananaGunBot has removed taxes for the $BANANA token
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*