GM Digest #257 — Ethena x IntentX | XION | Parcl Snapshot
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Ethena x IntentX
• @IntentX_ partners with @ethena_labs to introduce $USDe as collateral on Mantle. This collaboration enhances trading efficiency and offers yield-generating opportunities for users on the IntentX platform
• $USDe will be the main collateral type on IntentX's Mantle and will denominate over 260 perpetual trading pairs. The partnership aims to leverage $USDe's high yield of 30% on stablecoin deposits to offset funding rates, ensuring a cost-effective trading environment
• Early adopters depositing funds on IntentX's Mantle deployment will receive bonus "Ethena Sats." Depositors will start earning Ethena Sats at a rate of 20 per USDe per day upon the platform's launch in April
XION Raise
• @burnt_xion raises $25M to simplify crypto usage, aiming to achieve widespread mainstream adoption
• Investors include Animoca Brands, Laser Digital, Multicoin, Arrington Capital, Draper Dragon, Sfermion, and GoldenTree
• XION abstracts away complexities, allowing developers to create user-friendly Web3 experiences. The goal is to overcome adoption challenges and offer engaging consumer applications enabled by blockchain technology
• XION had over 1.3 million Meta Accounts created, 15 million transactions processed, and 150 projects onboarded during its test phase
Parcl Snapshot
• The @Parcl Points Trilogy has concluded, and the initial community allocation snapshot has been taken
• The leaderboard audit is underway, and distribution details will be shared soon. The final Season 3 snapshot will be taken within the next 7 days
• Additionally, Perpetual Points have started accruing, with the first distribution of $PRCL planned for the back half of 2Q 2024.
• The roadmap includes increasing leverage limits, adding FX support for global real estate markets, providing rental price feeds, and introducing "native" assets
Introducing Memenet
• @Memeland announced the launch of Memenet — a blockchain offering a safe, low-cost, degen-friendly way to build on-chain
• Memenet will be incubated inside of @Memeland with plans to decentralize progressively over-time
• The team announced the use of $MEME as its native gas token and hints of issuance of a new token
Clearpool x Avalanche
• @ClearpoolFin announced that they will be expanding to @avax with an exclusive launch of Credit Vaults — a new RWA asset backed product
• Credit Vaults allow borrowers to set their own terms like interest rates, payment frequencies which enables higher lending APYs while maximizing efficiency for lenders. These Credit Vaults will be able to accommodate new on-chain borrower types, including fintech and payment firms, by offering stable rates and sticky liquidity
• The first Credit Vault pool has been launched by @BanxaOfficial, a publicly listed global infrastructure provider enabling embedded crypto in the payments space. There will be a boosted yield campaign where lenders will be able to earn additional $AVAX rewards
KinetixFi IDO
• @Eclipsefi announced that @KinetixFi will have their upcoming IDO on EclipseFi
• KinetixFi is the first perp DEX on @KAVA_CHAIN who invested $1m into the project and will be supporting with liquidity. KinetixFi currently boasts $21m in TVL and offers 50x leverage with deep liquidity and rewards. Additionally, the team confirmed $KFI airdrop for early users and contributors
• The team will reveal more information in the near future
Misc News
• @PancakeSwap to deploy on @monad_xyz
• @CelestiaOrg Blobstream is now live on @Arbitrum
• @arbitrum Proposal to activate Stylus is now on the forum
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*