GM Digest #181 — ALT | Nibiru | Asteroid | Anzen
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
ALT Token Launch
• @alt_layer announced their token launch on @binance ****Launchpool
• Alt Layer takes any rollups from a rollup stack and provides them with a more decentralized and enhanced security using EigenLayer
• The team announced a token generation event on January 25 for their native token $ALT on the Binance Launchpool. Additionally, the team will be giving an airdrop to their community. Those eligible would be AltLayer OG Badge and Oh Ottie! NFT holders, qualified participants of Altitude campaigns, qualified EigenLayer and Celestia restakers. A snapshot of all qualified addresses was taken on January 17
• Still waiting to hear back from the Pendle team whether YT-eETH is eligible for the $ALT airdrop. If so, the attractiveness of YT on LRT markets will be huge knowing you’ll be able to earn restaking points + specific LRT protocol points + AVS partner airdrops — It’ll totally be full on Pendle x Restaking Farming Szn
Introducing Asteroid
• @delphi_labs introduces @asteroidxyz — A new open-source inscriptions protocol for Cosmos Hub from @delphi_labs & @astroport_fi
• Inscriptions can benefit Cosmos by bringing new users and use cases to Cosmos’ largest blockchain, Introducing scalable support for fungible tokens on the Hub, which has no native token support beyond $ATOM by design, Generating a new source of fees for Cosmos validators and $ATOM stakers, and Giving web2 developers a way to build apps on top of the Hub via Asteroids
• Full post here:
https://twitter.com/delphi_labs/status/1747394275745108412
Nibiru Token Sale
• @NibiruChain is an L1 blockchain that introduces parallel optimistic execution for efficient transaction processing
• They have a "Dev Gas" royalty mechanism that enables developers to earn half of the gas expended on their smart contracts, fostering ecosystem growth
• $NIBI is the staking and utility token that powers the Proof-of-Stake consensus and governance, allowing stakers to influence network changes
• Nibiru Token Sale is set for Feb 1, at 18:00 UTC. Tokens will be priced at $0.05 each, with a lockup structure: 10% unlocked approximately on Feb 26, followed by a 12-month linear vesting period
• The Fully Diluted Network Value is $75M. The total token supply is 1,500,000,000 $NIBI, with 4% allocated to the sale
ZooDAO Liqidity Mining
• @ZooDAO has launched a Liquidity Mining program lasting 12 months on Arbitrum, releasing 0.5% of the $ZOO supply monthly, totaling 6%
• Participants need to acquire $ZOO and ETH, providing liquidity on Camelot DEX, and then stake it using ZooDAO's interface
• ZooDAO is a platform that offers gamified yield. Their first game is 'Battles' where yields are fought over using NFTs
Alchemix NFTs
• Alchemistresses, an @AlchemixFi grant project, introduces NFTs, DeFi, and on-chain governance to create a community-owned treasury farming yield within Alchemix on Optimism
• NFTs, themed around dark fantasy, are minted for 0.42E each, with 97.5% deposited into a Moloch Treasury
• Each NFT holds one vote in governance, allowing various actions like burning, selling, or dissolving the treasury
• The project aims to accumulate capital by supporting alAsset liquidity on Velodrome, leveraging Optimism grants and Velodrome’s Tour De OP
Introducing Anzen Protocol
• @AnzenProtocol is an infrastructure protocol optimizing operator payments on @EigenLayer
• Anzen Protocol introduces a new economic security metric for AVS which is the Safety Factor (SF). The SF is based on the Cost of Corruption and Profit from Corruption. An SF <0 would mean that a protocol is vulnerable to economic exploit while an SF >1 means that an AVS is overpaying for economic security
• Anzen Protocol then uses this live on-chain data via their own SF oracle to dynamically adjust payment fees. The AVS Reserves Manager is a contract that integrates with the EigenLayer AVS Payments manager to regulate the flow of AVS operator payments. With the SF now delivered on-chain, the AVS Reserves Manager is capable of increasing or decreasing the rate of operator payments in order to target a desired SF level
Misc News
• @SatoshiVM IDO registration on @theapeterminal and @bounce_finance is ongoing
• @particle_trade announced building on @Blast_L2
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*