GM Digest #239 — EtherFi Liquid | PCS V4 | Hercules Launch
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
BTC Retracements
• On 15 March, BTC made a sharp decline in price, tanking 7.5%+ in a few hours from $72k to $66k. BTC has since then bounced back to $69k level
• The decline came after the PPI data that suggested that the Fed will keep the interest rates higher for an extended period
EtherFi Liquid
• @ether_fi announced launching the next product “Liquid” on March 18th
• Liquid is a managed DeFi strategy vault that deploys users’ ETH, eETH or weETH into DeFi to earn the highest quality rewards with managed risk
• Over the next 12 months EtherFi will be deploying ”Cash” — a real-life spending account that will allow users to spend and borrow against their ether.fi balance in the real world. This will include a mobile app MPC wallet that connects to users’ ether.fi account, and a credit card that users can load with their ether.fi balance. • EtherFi has solidified its #1 positioning in the LRT narrative, accumulating over 823k ETH ($3bn in TVL)
Radpie STIP dLP RUSH
• @Radpiexyz_io offers incentives to convert dLP into mdLP on Arbitrum, with rewards in $ARB tokens, all part of the STIP dLP RUSH #3
• Users convert dLP to mdLP on Radpie within a 5-day window to earn ARB rewards. Processing: All converted dLP is processed via the Smart dLP Converter, with bonuses if the peg falls below 95%
• mdLP Stability Vault: Converted dLP is added to the vault to reward long-term supporters and stabilize the peg
• Reward Structure: ARB rewards are based on the amount of dLP converted, with higher rewards for larger conversions
• Participants receive their mdLP tokens and ARB rewards right away upon conversion, directly in their wallet
• Additional Incentives: New mdLP converters are eligible for an ARB airdrop from Radiant Capital
Alchemix on Arbitrum
• @AlchemixFi has launched on the Arbitrum network as part of its multi-chain expansion. Arbitrum was chosen due to its robust DeFi ecosystem and substantial TVL (~$2.65b)
• Similar parameters to the Mainnet deployment, including a 50% LTV for borrowing alUSD
• Deposit caps set for launch: $100k for USDC and 200 ETH for stETH, with plans to increase gradually
• Incentives for providing liquidity on RAMSES DEX, with the Alchemix DAO providing rewards
• Cross-chain functionality involves bridging alAssets between networks, maintaining liquidity to facilitate transfers
• Governance remains on Ethereum Mainnet, with potential for multi-chain governance in the future.
Safe on Blast
• Blast Safe, powered by @Safe, is deployed on Blast, improving security and yield generation
• Safe offers robust security features like multisignature access for secure asset storage
• Allows users to earn yield on their assets directly within the Blast Mainnet ecosystem. Invites SafeApps integration to enhance security and yield experience for users
PancakeSwap V4
• @PancakeSwap announced PancakeSwap V4 and have released their v4 whitepaper
• V4 features hooks and custom pool types. Hooks can be integrated into the AMM to potentially enable dynamic fees, order types, custom oracles and active liquidity management modules. V4 will also support multiple pool types including CLAMM and liquidity book
• V4 will also feature Flash Accounting which optimizes the accounting process by computing net balances for a batch of transactions and settling them collectively, reducing gas consumption compared to previous models
• V4 is scheduled to launch in Q3 this year on Eth and BNB. There will also be a developer program worth $500000 coming from $CAKE emissions
Exploits
• There were 2 major exploits that happened in the past 24 hours
• Mozaic: @Mozaic_Fi suffered an exploit in their Mozaic vaults which were drained by a rogue Mozaic dev. He was able to obtain the private keys of a security module by compromising the data of a core team member and drain $2m from the vaults. At the same time, an institutional investor with a large $MOZ position decided to exit causing a sharp decline in price. The team managed to freeze the funds on @MEXC_Official and are working on recovering the stolen funds
• NetMind: @NetmindAi announced that a Miner was compromised and the exploiter was able to obtain $2.85 million worth of $NMT from the Miner causing the price to dump all the way to $2. The team assured that the chain was not compromised and is safu. Moving forward, the team will be putting in place safeguards to prevent sizable one-off miner sales and redesigning tokenomics to adjust the emissions schedule
Hercules on March 18
• @TheHerculesDEX will launch on @MetisL2 on March 18
• Hercules is a friendly fork of Camelot DEX that’s actually supported by the Camelot team. It shares all the unique characteristics of Camelot DEX (Dynamic fees, spNFT, Grailnomics, Burn mechanics, and more)
• Hercules has received $1m of grants from MetisEDF (Ecosystem Development Fund) and has introduced xMETIS with the same xTORCH (or xGRAIL mechanics). This is designed to generate traction on platform without diluting the token price
• Similar to when Camelot initially launched, there’ll be Genesis Pools opportunity for users to seed the liquidity for juicy incentives. Details should be announced soon
Misc News
• @Karak_Network announces partnership with @Hyperlane_xyz
• @SmileeFinance is live on @arbitrum Mainnet!
• @monad_xyz announced that devnet is live
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*