GM Digest #263 — Karak
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Karak $46M Raise
• @Karak_Network announced a $46M raise at a 1b+ valuation with participation of Pantera, Coinbase and Digital Currency Group
• Karak is a universal restaking layer that simplifies providing cryptoeconomic security for any asset, facilitating secure infrastructure creation for developers
• The protocol allows users to reuse their staked assets to enhance the security of Ethereum and other networks for different applications. Through a Distributed Secure Service (DSS), stakers grant additional enforcement rights, ensuring integrity and security
• It operates as a marketplace where developers incentivize validators to secure their services, reducing the need for inflationary token incentives and trust networks
• Karak offers multiasset restaking, allowing users to restake assets like Ethereum and stablecoins to earn rewards. Additionally, it provides turnkey development, enabling protocols to access secure trust networks without the need for their own validator sets
• Karak's ecosystem comprises Restakers, contributing assets for rewards; Distributed Secure Services (DSS), enhancing security; Chains or rollups utilizing DSS; and Operators ensuring validation and security
• Additionally, they are running the Karak XP Program that lets users earn XP by restaking assets and referring others. XP is earned based on the duration of asset restaking and referrals. Additional ways to earn XP include participating in Discord and creating content
Vector on Metis
• @vectorreserve is launching $vMETIS, the first Liquid Staking LPD on Metis. Similar to its $vETH counterpart on Ethereum, $vMETIS aims to optimize yields for $METIS and METIS LST holders while enhancing liquidity in the Metis liquid staking market
• Holders of $vMETIS need to stake to $svMETIS to access their share of yields, with expected APRs similar to $svETH, ranging from ∼40% — 60%
• $vMETIS holders can boost their yields by joining Vector Reserve's Genesis pool on Hercules. By LPing/staking into the $vMETIS/METIS pool, they can earn Hercules' $TORCH and $xTORCH tokens, with additional farming emissions soon to be available
• The LPD also utilizes Vector's treasury to generate extra yields for $VEC stakers
Hyperlock's Pendle Fork
• @hyperlockfi introduces Fixed Yields and Leveraged Points via Hyperlock Yield on Blast. Hyperlock Yield is a Pendle fork
• Users can split assets into Principal Tokens (PTs) and Yield Tokens (YTs). YT holders get staking yields and leveraged points, while PTs can be acquired at a discount and redeemed 1:1 for the underlying on maturity
• Liquidity providers on Hyperlock Yield earn trading fees, Blast Gold + Points, and Hyper points, with a Gold reward of 50k over 7 days. Initial markets are ETH and USDB, with more to come soon
Unwinding plsARB
• @PlutusDAO_io is unwinding $plsARB due to challenges in realizing its vision. Despite efforts, they couldn't activate native staking yield for $plsARB, leading to disappointment
• To honor their commitment, they're offering a 1:1 redemption of $plsARB tokens for $ARB
• They aim to involve the community more in decision-making and despite the setback, Plutus remains committed to its journey and has exciting plans for 2024
ESE Public Sale
• @eesee_io announced that the public sale for their native token $ESE goes live on April 9
• Users will have to participate via an Initial Raffle Offering (IRO). The IRO is the eesee Launchpad’s gamified way to launch a token. Users are required to buy a ticket granting them an allocation size of 50% to 1000% of the ticket price to participate in the token sale
• Additionally, users will need to KYC to be allowed to participate
Introducing Tradable
• @jointradable is an omnichain shared liquidity and distributed compute protocol. Tradable introduces a Shared Liquidity Vault (SLV) and Omnichain IDs built with @LayerZero_Labs to solve the liquidity fragmentation issue
• The SLV aggregates liquidity on different chains into a general ledger while its economic security allows apps and chains to back risk from complex networks of apps. Additionally, Omnichain IDs also enable users access their liquidity on different apps from within other apps on any chain
• Tradable is now live on 20+ chains and users can stake assets such as ETH and stables to earn yield and points. Devs are also now able top deploy apps omnichain
Misc News
• @truflation $TRUF launch, and listing on @kucoincom scheduled for today
• @QuantAMMDeFi raises $1.85M in a pre-seed round
• @puffer_finance announces a collaboration with @redstone_defi
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*