GM Digest #196 — Penpie STIP Rush 2 | Mode Airdrop | Clusters | Wormhole ZK
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Penpie STIP Rush 2
• @Penpiexyz_io STIP Rush 2 is live — Users can now convert $PENDLE to mPENDLE to earn PNP rewards, vePENDLE rewards, and ARB STIP rewards on top (do note that your mPENDLE gets put in stability vault which has 30d cooldown period)
• The Rush is currently offering 300-400% APR with about 38k in ARB rewards left for converters
Mode Airdrop
• @modenetwork Mainnet is live and the 'Mode Sunrise' points campaign is officially underway
• Users can earn rewards by contributing meaningfully to the ecosystem growth through bridging assets to Mode, inviting friends, and using ecosystem apps. Additionally, you get bonus points for past on-chain activity as well
• The rewards include 550 million $MODE tokens split for the points airdrop, TVL milestones, and a lottery for the top 20% campaign participants
• The points system is designed for optimal rewards based on network growth, and the campaign has a phased timeline leading to the launch of Mode DAO and token distribution in April
Introducing Clusters
• @clustersxyz, a project developed by Delegate Labs in collaboration with LayerZero, has closed a $9 million seed round with support from backers like Electric Capital, Arca, Variant, and Arrington Capital
• Clusters is a cross-chain, multi-wallet name service that addresses crypto's fragmentation issues. It's worth noting that it is also the first app to launch on LayerZero V2
• Clusters aims to simplify user interactions across various wallets on different networks, helping users aggregate assets in one place
• Delegate Labs' previous protocol, @delegatedotxyz, focuses on securing on-chain assets by linking cold and hot wallets. Clusters builds on this safety-through-interoperability mechanism, allowing users to create a unified identity for various chains
Fungify Pools
• @FungifyNFT Pools are now live on the mainnet, offering the first lending platform that combines traditional DeFi with the ability to handle NFT assets as collateral and a source of yield
• Unlike other protocols, Fungify Pools enables NFTs to actively generate yield from pooled lending. This means NFTs are no longer dormant capital for lenders and borrowers gain access to NFT borrowing pools for on-demand utility or potential shorting profits
• Additionally, Fungify Pools will have a points-based liquidity mining program that will start before the TGE on Feb 21. Points will be redeemable for $FUNG once the season is completed
Conic V2
• @ConicFinance announced the launch of V2 and has reintroduced Omnipools with protocol improvements
• Currently, Conic v2 supports Omnipools for $ETH, $crvUSD, and $USDC LPs get diversified exposure across @CurveFinance while earning $CRV, $CVX, and $CNC rewards. Additionally, the Liquidity Allocation Modules (LAMs) allocates liquidity from an Omnipool to be added to new protocols such as @PrismaFi and @fraxfinance
• Users can also bond their crvUSD Omnipool LP tokens in exchange for clCNC at a discount. The cncCRVUSD LP tokens received from bonding get staked on Conic to earn $CRV and $CVX. After being staked, LP tokens are gradually streamed as rewards to $vlCNC holders
Introducing Wormhole ZK
• @wormholecrypto introduced Wormhole ZK as part of Wormhole’s ZK Roadmap
• Integrating ZK technology with Wormhole’s bridge allows for stronger trust guarantees, permissionless verification, permissionless integrations, strong composability and protocol flexibility
• Over the coming months, ZK light-clients for blockchains, including @Ethereum, @SuiNetwork, @Aptos_Network, @NEARProtocol and @cosmos will be deployed and integrated with Wormhole, enabling trustless, bi-directional transfers of data leveraging ZK
Misc News
• @wormholecrypto announces integration with @dymension
• @valio_xyz introduces embedded accounts, fiat onramps and gas abstraction
• @puffer_finance announced a pre-mainnet deposit campaign for users who bring their stETH from EigenLayer before February 9
• @zetablockchain announced the launch of ZetaChain Mainnet Beta
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*