GM Digest #242 — Picasso LBP | Canto Cylone | Manta Restaking
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Picasso LBP
• @Picasso_Network is launching IBC on Ethereum and launching LBP for their token $PICA
• The LBP starts today on March 19. $PICA has been live for a while already on Cosmos. They’re doing LBP to raise liquidity for $PICA LP on Ethereum (this is the first time I’ve seen a project does this)
• $PICA is currently trading at $0.00875 with $39m MC and $87m FDV
• Picasso offers IBC Anywhere, bringing Cosmos assets to Ethereum & Solana, and vice-versa. There’s also Mantis Game on Solana which is Solana Restaking, powered by Picasso
Canto's Cyclone Stack
• @CantoPublic introduces the Cyclone Stack, enhancing performance and scalability through three upgrades
• Callisto Upgrade: Leveraging Cosmos SDK v0.50 and ABCI 2.0 for parallel execution without modifying CometBFT, speeding up block processing
• Elara Upgrade: Introducing Cyclone EVM for optimistic parallel execution, significantly increasing transaction throughput
• Kallichore Upgrade: Implementing mem-IAVL to reduce data access bottlenecks, improving blockchain stability and performance
• These upgrades maintain EVM compatibility, ensuring existing apps work without changes. Research started in December 2023, with upgrades expected in Q2 and H2 2024
The Arena Airdrop
• @TheArenaApp (formerly Stars Arena) airdrop has been officially announced. $ARENA will be a new ERC-20 token on Avalanche C-Chain, serving as governance units for The Arena platform
• Each Arena user receives 69 $ARENA per earned airdrop point. However, only 10% of total $ARENA you have earned will be initially distributed to you, with the rest coming on monthly basis over a year
• $ARENA can be freely transferred and will be used for governance votes via snapshot. The first vote will decide whether The Arena moves to its own subnet
• Additionally, the team is launching the ‘March Madness Incentive Program‘, distributing up to 10 million bonus points before the $ARENA release
• The program encourages buying volume, portfolio value, and referrals to boost liquidity, and attract new users
Bloom LP Program
• The @BloomOnBlast Early Liquidity Provider Program offers rewards for those who provide liquidity
• Rewards include boosted Blast Gold and Bloom points, based on tiers determined by locked $USDB amounts
• Participants must sign up, deposit and lock USDB for 30 days to qualify. Unlocking funds early forfeits incentives
• The program opens to the wider public on Mar 21
• Bloom is a simplified perpetuals trading platform on Blast, and one of the winners of the Big Bang competition
Manta Restaking Program
• @MantaNetwork’s Manta Renew Paradigm continues with LRTs via Restaking Paradigm where users can earn more rewards while restaking
• This Restaking Paradigm is launched with @Ether_Fi offering LRTs on Manta Pacific. Users can earn 2x Etherfi points between now until the end of May when depositing assets through Restaking Paradigm
Kodiak x Stryke
• @KodiakFi announced their partnership with Stryke (formally Dopex) to introduce decentralized options trading on @berachain
• Kodiak’s concentrated AMM will be powering Stryke’s CLAMM product on Berachain allowing users to provide Kodiak’s single-tick liquidity or range positions for options liquidity on Stryke. This allows users to continue earning potential trading fees on Kodiak’s concentrated AMM even when unutilized on Stryke’s platform
• Additionally, when users’ liquidity is engaged by Stryke, they enjoy even more lucrative rewards provided by options traders while impermanent loss risk is passed on to the options purchaser
Misc News
• @Juice_Finance raises an additional $1M in funding bringing the total to $7M
• @Entanglefi announces strategic investment from @Consensys
• @PolyhedraZK announced that their $ZK airdrop page is up
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*