GM Digest #221 — Introducing Airpuff | Blitz | Fungify
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Introducing Airpuff (Exclusive Alpha for Readers)
• @airpuff_io allows users to leverage farm their LRT, experiencing up to 10x leverage on EigenLayer points and 20x leverage on LRTs (depending on the multipliers)
• Airpuff will be the first avenue to allow users to gain EL & LRT exposure while staying hedged with their stablecoins i.e. lenders can lend stablecoin and earn 10% of EL & LRT points from leveragoors
• There are currently 2 places where you can leverage your LRT exposure Pendle & Gearbox. Airpuff is kinda similar to Gearbox but with more swag → 10% points sharing for lenders, 5% points sharing for vePUFF (Yes, veTokenomics, bribes & voting gauges for additional rewards on top)
• I’m currently building Airpuff with Vaultka team and we’ve just rolled out our liquidity bootstrapping program with very juicy rewards. Feel free to leave a comment or ping me on Twitter if you’re interested explore. Minimum size is $50k or 18 ETH, but if you’re GM Digest reader, happy to make some exceptions xD
• Super excited for this because there’ll be different avenues on Airpuff where you can earn EigenLayer & LRT points & Airpuff Points / Incentives whether you’re Lending, Leveraging or staking your PUFF token
Introducing Blitz
• @tradeonblitz, the recent winner of the Big Bang competition, is an on-chain DEX for spot and perpetual trading on Blast L2, offering a unified cross-margin account for optimized capital use
• Blitz runs on synchronous orderbook liquidity powered by Vertex Edge, combining liquidity from Blitz and Vertex on Arbitrum
• The protocol offers features like spot, perpetuals, integrated money market, and zero trading fees for makers and 2 bps for takers
• Additionally, Blitz makes use of the native yield for ETH and stablecoins on Blast L2, enhancing USDC deposit rates across all Vertex Edge instances
• Upcoming developments include integrations with Juice Finance, Range Protocol, and the launch of the Blitz Points Program
Fungify ve404 NFT
• @FungifyNFT Mint introduces ve404 NFTs with protocol-backed utility, allowing participation in governance, revenue sharing, and point mining
• NFTs can be minted and burned by depositing 210,000 $FUNG into the Fungify NFT Minter contract. However, once burned, They are gone forever, reducing the supply
• Initial mint details include 75 NFTs for season 1, with a hard cap of 3500 distributed during future seasons. Minting early grants higher multipliers for liquidity mining, revenue share, and governance
• By merging Curve's token model with ERC-404 concepts, the motivation is to address limitations in existing token models like veCRV by creating incentives for token lockup in NFTs. While NFTs can be sold, the capital commitment required creates a liquidity gap, effectively removing tokens from circulation
• This will all take place at the conclusion of their TGF (The Great Fill) Campaign
Juice Finance Points
• @Juice_Finance will distribute Juice Points to @pudgypenguins and @bywassies holders once the Blast mainnet is launched
• Additionally, Juice points will be airdropped to all users who bridged to Blast
• There may be additional NFT collections that get Juice points allocations in the coming days and the snapshot for pudgies and wassies is not taken yet
Introducing Across V3
• @AcrossProtocol is a interoperability protocol powered by intents secured by @UMAprotocol’s Optimistic Oracle
• Across V3 introduces features such as Across Settlement, Across+ and Across Bridge. Across Settlement is the only production ready, modular settlement layer for cross-chain intents. It seamlessly enables any dapp using this order flow style to offer best-execution fulfillment
• V3 also introduces Across+ which upgrades the UX by abstracting bridging to the background allowing devs to harness cross-chain bridge hooks to bundle bridging and protocol actions within their dapp
• Lastly, Across Bridge is an intent based design that provides superior cross-chain transfer execution. Relayers compete to fill transfer which naturally drives down fees and speeds up execution
FRAX Introducing Rev Share
• @fraxfinance announced that their core team will soon be following Uniswap to distribute a portion of protocol fees to stakers. Sam Kazemian from Frax Finance confirmed that they will be proposing this and it will be up to the community to pass it
• Frax Finance makes around 8 figures in annual revenue which goes into their treasury. The team is now looking to distribute a portion of this revenue back to veFXS holders
Misc News
• @Blast_L2 mainnet on Feb 29
• @redactedcartel crosses $20M in TVL
• @rage_trade trading competition coming this week
• @AvailProject raises $27m in a round led by @foundersfund and @dragonfly_xyz
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*