GM Digest #193 — Befy LBP | THJ x YEET | Infrared Seed | Vector x Peapods
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Befy LBP is Live
• @Befy_Protocol LBP is now live on @FjordFoundry — The current market cap is trading at $1.3m at $6.5m FDV
• Befy offers the first decentralized bridge between Bitcoin ecosystem & EVM/Solana chains. $BEFY token holders will be able to stake their token to get protocol revenues (bridge & trading fees)
LayerZero V2 Live
• @LayerZero_Labs introduces V2, an interoperability solution aiming to connect all chains (EVM, non-EVM) with a focus on core principles: immutability, permissionlessness, and censorship resistance
• V2 offers improved developer experience with unordered delivery and horizontal composability, making cross-chain development as easy as on a single chain
• The protocol allows flexibility in choosing security sets, supporting various entities like bridges, oracles, and zk-provers
THJ x YEET
• @0xhoneyjar announced that @eatsleepyeet is now a Platinum partner which is the highest tier for THJ partner protocols. That also means juicier rewards/perks for honey comb holders
• YEET is an on-chain game launching on Berachain, that allows users to yeet $BERA into prize pools in an effort to potentially win the whole prize pool, while earning $YEET in the process
• Out of this deal Honeycomb holders will get 4.2% of $YEET supply airdropped evenly to them, and whitelist for [REDACTED]. Most likely an upcoming Yeet NFT collection mint. Additionally, 20% of revenue share will go to @BeraInfinity, which is a project incubated by THJ
• On the other hand THJ's @ApiologyDAO will diamond-hand airdropped $YEET tokens, direct token emissions to YEET LPs on DEXes and whitelist [REDACTED], for @miberamaker333 NFT mint
Infrared Seed Round
• @InfraredFinance has successfully raised $2.5 million in a seed round led by @Synergiscap, featuring participation from various other investors
• The funds will be utilized to enhance the development of infrastructure related to liquid staking in the context of Proof-of-Liquidity (PoL), including validators, PoL vaults, and the inaugural native Liquid Staking Token (LST) called $iBGT
• Infrared Finance is the flagship application of the PoL consensus mechanism pioneered by Berachain. The team plans to share more details about Infrared's mechanics and launch a testnet in the near future
Orbiter Introduces Orbiter Rollup
• @Orbiter_Finance announced that they will be launching Orbiter Rollup — a zk powered instant omni meta-layer bringing unlimited scalability and unified liquidity onto Ethereum
• The Orbiter Rollup will be operating as a zkEVM while it replicates Ethereum’s environment enabling full compatibility with the Ethereum ecosystem. Additionally, the Rollup is ‘intent’ centric meaning that the Orbiter Rollup functions as the intent layer, primarily used for the decentralized aggregation of messages related to cross-chain intents of Orbiter users
• The Rollup introduces features such as a ZK-SPV to facilitate private transactions, Omni/Orbiter Account Abstraction Protocol — which is an account abstraction protocol, advancing from the ERC4337 Account Abstraction and a consensus layer for the Orbiter Omni-Chain allowing the Orbiter protocol to synchronize messages from the Orbiter omni-chain protocol, allowing DApps to seamlessly access all cross-chain data within the ecosystem
Introducing stDYDX
• @stride_zone announced that they will be launching stDYDX, a liquid staking token for DYDX. Users can now continue to use their staked DYDX tokens to participate in DeFi while earning staking rewards
• The team announced that stDYDX/DYDX concentrated liquidity pool will be available on @OsmosisZone with $STRD incentives. stDYDX will also be supported as collateral on @demexchange, @Mars_Protocol and @ux_xyz. Additionally, stDYDX will be available to trade on @Neutron_org’s @Astroport_fi deployment, and possibly other Cosmos DEXes
• The rewards earned by stDYDX are automatically IBC’d to Osmosis and swapped for DYDX which will then be compounded
Vector x Peapods
• @vectorreserve partners with @PeapodsFinance to allow sVEC holder to boost their yields by volatility farming
• Vector has created a psVEC pod. Holders of sVEC can wrap it into psVEC on the Peapods platform to gain a share of the volatility farming yield. Vector Reserve treasury will get premium yields from the LP it provides, driving additional protocol revenue
Misc News
• @ElixirProtocol announces native support for @Blast_L2 exchanges
• @Starknet collaboration with @CelestiaOrg
• @dymension redistribution of unclaimed $DYM tokens is complete
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*