GM Digest #220 — Kresko | Parcl Token | GMX Roadmap
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Introducing Kresko
• @KreskoFi is a protocol for creating and managing synthetic assets (Kresko Assets), that runs on the EVM
• It offers two types of collateralized debt positions to mint these Assets: individual (ICDP) and shared (SCDP). ICDPs allow users to create new assets with control over their risk, while SCDPs pool deposits for zero-slippage swaps
• Kresko Assets are synthetic derivatives tracking the price of other assets or groups of assets. They are minted as ERC-20 tokens. Each asset is evaluated and configured separately, with various types including stocks, ETFs, commodities, synthetic cryptoassets, and indices
• Kresko assets can also be obtained through synth wraps, where an on-chain asset like ETH can be converted into a Kresko Asset (krETH)
• They also have a stable valued Kresko Asset called $KISS, designed for efficient entry of stablecoins like USDC without the need for overcollateralization or liquidations. Works similar to a synth wrap
• Currently they are running a testnet campaign that started on Feb 8. You need to apply for a whitelist and do quests each week to stack points that are based on your profits
Parcl Token Unveiled
• @ParclLimited introduced $PRCL, the network token for its real estate-focused DEX, set to launch in April
• Holders of $PRCL will be able to engage in governance, access enhanced utility in data and trading, and receive incentives within the ecosystem that are not specified as of yet. The Parcl Foundation will oversee critical decisions governed by $PRCL holders
• Initial distribution details include a total token supply of 1 billion, with 7-8% for the initial community supply, and initial float at 10-12%. Detailed tokenomics will be released in March
GMX 2024 Roadmap
• @GMX_IO announced their plans for 2024. The team plans to introduce a bridging protocol that will be implemented with the approval of the GMX DAO. This can be used for bridging tokens for GMX V2 markets, bridging GM tokens to be used as liquidity or vaults in other chains and allowing for cross-chain governance. The protocol would also be open for any project to use
• The team also plans on introducing a PvP AMM which enables the creation of markets without liquidity requirements and earn fees from trading volume
• Lastly, the team announced the idea of GMX Chain, a low fee chain utilizing GMX as gas. This network would provide a web2 interface with social logins and on-chain wallets, onboarding new users to the space with a frictionless experience
Misc News
• @sudoswap launches on @arbitrum
• @FjordFoundry teased $FJO token soooon
• RiskOnBlast, GambleFi on Blast rugged 420+ ETH
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*