GM Digest #208 — Cosmos Restaking | ParaSwap v6 | Analog | Susa Layer N
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Persistence’s DYDX Liquid Staking & Cosmos Restaking
• @PersistenceOne recently launched liquid staking for $DYDX on Persistence One liquid staking app-chain
• Users can earn 100% of the rewards with 0% fees. stkDYDX/DYDX is giving out ~335% APR right now on @Dexter_zone
• Persistence recently announced Restaking in Cosmos where Persistence will enable the restaking infrastructure on Cosmos (the first appchain to do so)
• Users will be able to restake their liquid staking assets from pStake, Stride, Milky Way, Quick Silver, on Persistence to increase Persistence’s economic security while receiving restaking yield in the form of XPRT rewards (Persistence’s token)
ParaSwap V6
• @paraswap announces the launch of Augustus V6, a major update focused on enhancing trading efficiency, scalability, and safety
• V6 offers improved gas efficiency, faster integration of liquidity sources, and additional safety measures
• V6 is also a bet that the future of blockchain trading involves decentralized intents, since they simplify user transactions by focusing on outcomes rather than specific steps
• Existing intents-based solutions face trust and centralization issues, prompting the development of a decentralized layer for intents, called Portikus
• Portikus aims to decentralize intents-solving, offering benefits like customization for relayers
• Portikus will be phased in five stages, starting with Doric, an intents DEX-like experience, and culminating in Vitruvius, full deployment to mainnet
Analog Funding Round
• @OneAnalog raises $16M in funding to enhance its cross-chain communication tools for developers, with a valuation of $120M
• Backers include @NGC_Ventures, @Wintermute_t, @GSR_io, @NEARProtocol, @OrangeDAOxyz, @Novogratz’s @Samara_AG_ and @Balajis
• Founded in 2021, Analog addresses the need for cross-chain data triggers for smart contract execution
• The team, with experience in projects like Moonbeam and Enjin, is building a developer-focused product allowing querying data from smart contracts across different blockchain networks
• They will offer software development kit for general message passing to enable communication and interoperability across blockchains for various dApps
Sovryn Reducing Emissions
• Sovryn is a non-custodial, permissionless platform for trading, lending, and borrowing bitcoin and select other assets on RSK, a Bitcoin layer 2 EVM smart contract blockchain
• @SovrynBTC announced that they will be reducing the $SOV emissions rate in interest of the long term ecosystem health
• $SOV rewards for the DLLR/BTC AMM pool will be reduced and the current APY is set at 31.47%
Introducing Susa
• @SushiSwap introduced @susa_ex — a perp DEX powered by @LayerN_Official’s L2
• Susa offers more scalability and features, capital efficiency and a fully on-chain order book order settlement all while being permissionless
• By utilizing Layer N’s Statenet and Nord Engine, Susa will be able to provide users with the UX of a CEX by achieving 100k+ tps, sub-50ms latency, and full cross-collateral and cross-margin across all markets
• The platform raised $5 million in seed funding co-led by Founder's Fund and is expected to offer greater capital efficiency and deeper liquidity while leveraging the security of Ethereum.
• Not much to do yet but you can currently sign up for waitlist for the protocol
Misc News
• @nftperp joins Big Bang competition on Blast
• @CamelotDEX reveals Jan 2024 as biggest month so far with $4.2M fees generated & $2.7B volume traded
• @Penpiexyz_io Launches PENDLE STIP RUSH #3 with 50k ARB rewards up for grabs
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*