GM Digest #214 — Ethena Shards | More AI | Starknet Defi Spring (FARMING)
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Ethena Shards
• @ethena_labs just announced their public mainnet, and along with it they will launch the Shard campaign, rewarding users who contribute to the ecosystem
• The campaign is set to run for a brief period and should wrap up within three months at most, possibly even sooner if it reaches $1B US Dollars first
• In the first epoch, users earn shards by providing liquidity to Curve's $USDe pools. They lock their Curve LP tokens to earn 20 shards per day for each $ of locked LP tokens. Once pool caps are met, they can deposit $USDe to earn 10 additional shards per $USDe
• Additionally there are shard rewards for unlocked $USDe and $sUSDe holders as well, at the rate of 5 shards and 1 shard per day
• The epoch ends in two weeks or when caps of $100m LP tokens and $100m locked USDe are reached
AI Narrative — and AI Pick of the Day
• The AI Narrative is still running strong with AI-related coins outperforming the overall market during the past 7d
• PAAL AI coins in particular has risen 77% during the past week with the gains led by $PAAL & $AIT (>100%+ gainz)
• One particular coin that’s relatively on the lower cap side is @MindLanguageAI which we’ve shared since episode #145 (about 2 months ago). Mind is an application layer that’s built on top of Bittensor (TAO) & GPT3 (OpenAI)
• It is a smart tool that turns natural language inputs into computer programs. It follows an approach called graph programming, where tasks are represented by nodes on a graph and the control flow is expressed using directed edges that connects the nodes
• The recent price appreciation can be attributable to MVP announcement which will be released within Q1 (<1 month away)
• $MND already pumped 5x from its low since the start of AI narrative a week ago and is currently trading at $20m FDV. The next big catalyst will be when the team starts rolling out more updates on its MVP and the MVP itself. And yes…. I’ve been holding the majority of my bag for the past 2 months. Please please DYOR / NFA if you’re thinking of aping into it right now.
nftperp Alpha V2
• @nftperp introduces v2 Alpha, an upgrade to their NFT perp trading platform, focusing on improved infrastructure, security, and UX
• The new version is based on Fusion AMM, a combination of decentralized limit orderbook and a CLAMM (Concentrated Liquidity AMM)
• They're also launching the Alpha Incentives Program, rewarding users for participation and referrals
• Access is granted in phases with the initial whitelisted wallets belonging to those who have staked Mafia Nut NFTs, were top 50 in v1, and hold more than 5,000 $VNFTP. The rest will need a referral code to participate
• The rewards will be based on trading volume but will include other factors down the line. Rewards are distributed through token emissions and referral activities on weekly basis
Ekubo DeFi Spring
• @StarknetFndn is distributing $STRK rewards as part of the 'Starknet DeFi Spring' campaign to @EkuboProtocol users based on their liquidity provision in eligible pairs like STRK/USDC, STRK/ETH, ETH/USDC, and USDC/USDT
• Rewards are allocated equally to active liquidity providers, prioritizing volatile pairs, capital efficiency, and duration
• Users don't need to take any special action to participate, but must provide active liquidity in eligible pairs to be eligible
• The rewards can be claimed retroactively through a user interface in the Ekubo Interface starting the week of March 4th, with no deadline for claiming
Nostra DeFi Spring
• @nostrafinance announced that they will be participating in DeFi Spring bringing STRK incentives to Nostra Pools
• Liquidity providers will now be able to earn STRK incentives by providing liquidity to STRK/USDC, STRK/ETH, ETH/USDC and USDC/USDT pools
• The first claim date for the incentives will be on March 7 2024
Introducing Tranchess V3
• @Tranchess announced the launch of Tranchess V3 — their LSTFi Expansion to provide full stETH compatibility
• V3 would give users access to Turbo Yield ETH (turYETH) allowing users to leverage staking rewards of the underlying asset. Additionally, users can use Stable Yield ETH (staYETH) allowing users to enjoy staked ETH returns at a fixed benchmarked rate up to 1 year
• Lastly, users can maximize their yields with their native wstETH-staYETH pools for users to earn trading fees while providing liquidity
Misc News
• @hummusdefi announces partnership with @ENKIProtocol
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*