GM Digest #201 — Initia | MetaStreet Ascend | BeraPunks | Euclid Tournaments
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Inter-Minitia Swaps
• @initiaFDN's Inter-Minitia Swaps enable seamless asset transfers between different rollups through InitiaDEX, an L1 native DEX
• Users can move liquidity across rollups without the need for wrapped tokens or liquidity fragmentation
• InitiaDEX offers various pool types like weighted pools and stableswaps through a single UI
• Key is 'Enshrined Liquidity' which ensures deep liquidity for cross L2 swaps while securing the network
• Stakers can directly stake $INIT tokens with validators for rewards, swap fees, and LST yields. Staking rewards are distributed based on the amount of $INIT staked across LP positions and solo $INIT
• Enshrined Liquidity draws inspiration from governance mechanisms like Proof of Liquidity pioneered by projects like Berachain
• Initia enables the development of L2 rollups called "Minitias," which are CosmosSDK app chains that leverage the OP stack. Backed by Binance
MetaStreet Ascend Details
• @metastreetxyz shared more details about the rewards program for participants in the MetaStreet protocol that starts today
• It will run for three months, offering XP rewards through Reserve Actions (80%) and Prestige Actions (20%)
• 'Reserve Actions' include depositing $wstETH into Lending Towers and supplying liquidity to Liquid Credit Token pools on Curve Finance. For each $wstETH you deposit you get 1000 XP, while for each LP deposit you will earn 3,000 XP
• 'Prestige Actions' involve community engagement, social quests, referring users and holding specific NFTs
• Bonus XP will be on offer, including time bonus, TVL bonus, supply LP bonus, and XP combo bonus, all encouraging early participation and longer deposit times
BeraPunks Relaunch
• @Bera_Punks is relaunching on Feb 16th through @KingdomlyApp on Arbitrum
• The price has been reduced by 50%, meaning current holders on ETH mainnet will receive double their holdings, and new minters can get in for half the price
• The team has been sourcing high-quality projects to align with, promising perks for BeraPunks holders, to be announced later
Euclid LRT Tournaments
• @Euclidfi announced LRT tournament — Earn E-Points by depositing LSTs and native ETH into Euclid Finance and receive elETH in return. elETH represents your restaked position on Euclid, and holding 1 elETH per day will grant you 1 E-Point
• Tournaments consist of several rounds of referrals, point boosters from ePENDLE and vlEQB, and Guild War (guild referral leaderboard)
• Euclid is Building Omnichain LRT and launching its own governance token at $2m FDV
Shoebill Finance Token Utilities
• @ShoebillFinance, major money market on Manta has unveiled its $SBL token utilities
➥ APY Boost: Boost APY for Borrowing & Lending
➥ Profit Sharing: Part of the profit will be shared directly with the token holders & 50% of the profit will be used to buyback, staked the token, and redistribute it to holders as rewards
➥ SBL Auction: Allow users to buy gSBL (locked SBL) at a discount with their SBL, the gSBL are mainly sourced from Early Exit Penalties (when gSBL early vest to SBL… max vest is 40 days)
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*