GM Digest #215 — Ethereum Outperformance
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Ethereum Outperformance
• The market slightly retraced yesterday when ETH fell below $3k to $2.9k while other major alts retraced 2 - 3%
• $ETH quickly reclaimed its $3k position, showing outperformance with +3.5% gains during the past 24hr while other alt coins remain down
• The outperformance could be attributable to the hype around spot Ether ETF which is expected to come later this year. Several global asset managers like Fidelity and BlackRock have applied during the past months
• The demand for liquid staking has reached an ATH at $46bn with ~$40bn from Ethereum liquid staking alone. Eigen Layer’s Restaking has also reached $7.9bn, doesn’t seem like this is going to slow down any time soon
Looty x Inspect
• @looty_fi & @inspectxyz launch a loyalty platform on Avalanche using loot boxes, allowing users to unlock NFT rewards
• Inspect provides insights into NFT social dynamics, rewarding users based on their activity. Users download Inspect's browser extension, buy or receive loot box keys, and open them for rewards
• The program runs alongside the Hyperspace NFT program which is an Avalanche and Hyperspace incentive program what rewards participants with $AVAX for trading NFTs
Introducing Seismic
• @seismicfinance is developing a money market native to @Blast_L2, offering Blast-native collateral and competitive rates. The aim is to become a foundational block for Blast's ecosystem, providing leverage and liquidity
• The team plans to reward early users with Blast Points, Lootboxes and share of Blast developer airdrop. Additionally they will run their own points campaign where they will distribute Seismic Points to participants
• To be eligible for Seismic Points airdrop, you need to join their Discord channel and be an active member of the community. There will be additional tasks as they approach mainnet
WINR Expansion
• WINR Protocol is expanding to Fantom, with Plus[.]bet as the first white-label user
• Plus[.]bet will offer various Unity-based games and operate a private bankroll using WINR's tech stack. The budget system has already been tested on degens[.]bet and will be implemented on Arbitrum and Solana
• WINR stakeholders will receive 20% of all the profits generated by Plus[.]bet, distributed weekly
• Additionally, WINR VRF will also be deployed on XAI Games for fast random number generation
Fenix a Shared Success Model
• @fenixfinance (previously migrated from ChronosFi), invites ALL Blast Projects to deploy liquidity onto the most advanced AMM on Blast
• Fenix utilizes v4 Hooks from battle-tested Algebra’s Integral codebase.
• Partners can receive liquidity at the lowest cost, earn veFNX through RISE grants program and earn a share of $BLAST airdrop
• See more details on Fenix here in GM Digest #137
VOYA Fair Launch
• @MerlinSwap announced the first BRC-20 fair launch on Merlin Chain for $VOYA to be airdropped to users
• To be eligible for $VOYA, users should have assets staked in Merlin’s SEAL that is equal to or more than 0.01 BTC, having assets on the Merlin Chain that is equal or more than 0.01 BTC or HUHU assets on the Merlin Chain
• Snapshot for the airdrop has been taken and users can start claiming via their official link on February 21
Ape Terminal Hype is Back
• @theapeterminal announced that they just held a record breaking IDO with @BefiLabs, a trading terminal for the BTC ecosystem. The IDO saw over 1.6B+ assets connected, 200,000+ IDO applicants and legendary oversubscription
• Additionally, they have opened registration for @beoble_official — one of the largest SocialFi apps with 750k+ MAU backed by Samsung. They are a wallet messaging app aiming to be the WhatsApp of Web3
LRT Season on Stella
• @stellaxyz_ announced that users can now open up to 10x leveraged LRT positions with eETH LP on Penpie at 0% borrowing costs
• With 10x leverage, users who use the $eETH leveraged LRT strategy through Stella will earn 30x Etherfi points, 10x EigenLayer points and leveraged ETH staking yield
• Additionally, with the Pendle LRT LP Strategy on Arbiturm, users will also be able to earn ARB STIP on Pendle, boosted yields from Penpie’s Pendle stake, up to 10x leverage on Stella and Stella ARB STIP
Misc News
• @tapioca_dao will soon be available on @berachain Artio testnet
• @Optimism unveils Airdrop #4 for creators who deployed NFTs on Ethereum L1, Base, OP Mainnet and Zora before Jan 10 2024
• @ionprotocol integrated EtherFi as the first LRT market to be deployed. Users will be able to borrow and get up to 5x EL & EtherFi points
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*