GM Digest #236 — Bitcoin ETF Inflow | Blast 15% USDB Yields | The Pies Update | AIRDROPS
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Bitcoin ETF Inflow $1bn in a Day
• We have seen $1bn of Bitcoin ETF inflow in one single day on March 12 (Highest Flow). BTC is currently trading at new ATH $73k
• Institutional flow is heavily driving up the price of BTC — Ki Young Ju, founder and CEO of on-chain analytics platform CryptoQuant, predicted a BTC supply constraint “within six months.”
• “Once a sell-side liquidity crisis happens, its next cyclical top may exceed our expectations due to limited sell-side liquidity and thin orderbook,” Source: Cointelegraph
MakerDAO Launch Season
• Launch Season is coming for @MakerDAO with First stage of Launch Season is the Brand Reveal
• The ecosystem will unveil a completely new look and feel, designed for simplicity and user adoption. Bonus yields available to Early birds that sign up for the Launch Airdrop on the new website (non-US only)
• Second stage is Token Launch with NewStable and NewGovTokens (real names TBA) are optional upgrades for Dai and MKR with new features
• Third stage is Lockstake Engine (LSE). LSE allows NewGovToken and MKR holders to earn 30% of Makers surplus as yield (non-US only). In return for this yield, and to promote long term participation, the LSE has a 15% exit fee
• Spark is expanding functionality to include Real World Assets and Perp Funding exposure. SPK token holders will be able to stake SPK to farm NewGovToken (non-US only)
• Full details HERE
Blast 15% Yields for USDB Holders
• @Blast_L2 yield has increased following MakerDAO's recent yield update. USDB holders now earn 15% yield + Blast Points (all automatic)
• The increase in yields came after the announcement made by MakerDAO with changes to Maker Vaults, SparkLend DAI Borrow Rate, the PSM, the Dai Savings Rate (DSR), and the Governance Security Module (GSM) Pause Delay
• MakerDAO Announcement HERE
• Top Money Markets are prime beneficiary of this since you’re able to do more with your USDB that’s generating more return — do check out Orbit Protocol
Cakepie, Campie, Radpie Updates
• @Cakepiexyz_io have distributed over $300k in bribes to vlCKP voters. Cakepie have now accumulated 9 million CAKE which is 46% of the total veCAKE
• @Campiexyz_io have accumulated 1200 $GRAIL. The converted GRAIL will be utilized / allocated towards different plugins
• @Radpiexyz_io introduces the Smart dLP Converter & mdLP Stability Vault — the Smart dLP Converter reviews the exchange rate on PCS. If mdLP's price is under 95% of dLP's price, it will execute a swap at PancakeSwap's rate, ensuring users gain more than 1 mdLP for each dLP converted via Radpie.
Entangle Airdrop
• @Entanglefi plans a 'Launch Airdrop' that will target early supporters of the protocol
• The $NGL token powers Entangle's Oracle Blockchain for secure data provision
• Allocation: 3% of the total $NGL supply is reserved for airdrops, out of which one third (around 10 million tokens) are designated for the 'Launch Airdrop’
• Unlock Conditions: Cliff period of 3 months, followed by vesting over 6 months
• Eligibility Criteria: Testnet Users, based on activity across multiple testnet versions. Validators, based on uptime. Webverse Stakers, based on generated Energy. Airdrop Whitelist for early and active community members
NFTfi Raises $6M
• @NFTfi, an NFT lending protocol, raised $6M in Series A1 funding led by @placeholdervc. Other investors include Maven 11, Launch Labs Inc, and Kahuna Ventures
• This brings the total capital raised to $15M, including previous Series A round in 2021
• NFTfi will utilize the funds to enhance dApp, introduce manual peer-to-peer loans, and broaden SDK features. The Goal is to develop an open settlement layer for NFT finance
• The protocol has facilitated $534M in total loan volume since 2020 launch, with lenders earning over $15M in interest
Tuna LBP
• @TunaChain is the first modular L2 solution on Bitcoin
• It utilizes OP rollups for transaction settlement on the BTC network, with data stored on a dedicated DA network for transparency
• Additionally, it has a native stablecoin called $TORO, backed by BTC collateral that facilitates yield without liquidating spot BTC holdings
• $TUNA is the governance token used for voting on network decisions. Holders also benefit from revenue and savings generated by transactions and dApps, driving demand for blockspace
• The token has a total supply of 210M, and the iniital circulating supply is expected to be 11.6%
• Tuna Chain LBP is live on @FjordFoundry until 1PM UTC on Sunday
Introducing ZK
• @PolyhedraZK announced that the snapshot for their $ZK token has been taken on March 12 8am UTC
• Users who performed zkBridge transactions, hold Pandra King NFTs or have zkBridge loyalty points will be eligible for the airdrop. Additionally, participants in campaigns such as the Binance Web3 wallet airdrop, OKX Cryptopedia Season 11 and BNB Airdrop marathon will be eligible as well
xWhales Airdrop
• @WhalesMarket announced that they will be distributing xWhales to WhalesMarket users
• Users who engaged in trading activities on Whales throughout January and have their wallet linked will receive xWhales directly into their wallet
• The xWhales were converted from 78054 $WHALES and the airdrop rebate is proportional to 25% of the transaction fees incurred
Misc News
• @pacmoon_ $PAC airdrop for Blast depositors live on Mar 13
• @TensorFdn announces $TNSR it’s governance token. Airdrop thoon
• @_WOO_X lists six more fractionalized NFT collections in collaboration with @floorprotocol
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*