GM Digest #284 — RIP CRYPTO
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Market Dump / EigenLayer 12k Withdrawals
• Bitcoin & Ethereum retraced to $58k and $2.8K subsequently. The price has declined ahead of the US FOMC meeting which is scheduled for 2pm ET today
• All eyes on the Fed’s announcement on the interest rate decision for 2024, consumers aren’t likely going to see short-term relief any time soon due to stubborn high inflation
• On another front, EigenLayer has seen more than 12,000 withdrawals during the past 3 days, with some of the TVL now shifting towards Karak which gain over $400m in TVL
Thruster Credits
• The @ThrusterFi dashboard is live, offering users multiple ways to earn Credits including adding liquidity, swapping assets, referring others, and participating in social campaigns
• There are 4 different types of credits with Liquidity Credits being weighted the highest
• Liquidity Credits on Thruster are earned by adding liquidity to the top 50 pairs/assets. Distribution depends on pool weight (TVL, volume, and fees) and user weight (liquidity share and tight price range). Notably, the USDB/ETH pools offer high Credits
• Swap Credits are earned by swapping on Thruster. They are based on the volume and pool of the swap, with higher fees in certain pools receiving more Credits. The first swap of each day earns a 2x boost in Swap Credits
• Referral Credits allow you to earn Credits from referrals on Thruster. Share your referral link to earn more Credits. Social Credits are for active ambassadors and participants in social campaigns
• Credits are updated weekly and your ranking relative to others is displayed on the dashboard
MilkyWay Seed Round
• @milky_way_zone secured $5M in seed funding round from investors like @polychain and @BinanceLabs
• MilkyWay is a liquid staking protocol designed for Celestia, a blockchain optimized for Data Availability (DA) in integrated rollups. MilkyWay allows users to stake $TIA tokens while maintaining liquidity
• The protocol has grown significantly over the last year, with 156,000+ milkTIA holders and 2.6 million $TIA tokens staked. It integrates with over ten DeFi protocols and expands into ecosystems like Dymension and Arbitrum via Camelot
• Future plans include collaboration with @InitiaFDN for modular security and launching the governance token $MILK
Blur on Blast
• @blur_io is live on Blast
• Users who deposit ETH will earn Blast Points, while the yield will go for future giveaways
• Additionally, traders will share a fixed supply of 2M Blast Gold
Introducing Moonbirds Universe
• @moonbirds announced that they are building the Moonbirds Universe and will be joining Mythics as a collection with commercial rights
• The team will be transforming the original Moonbirds pixel PFP into 3D avatars built for animation and Othersides. The Moonbirds Universe will be a new digital space for Moonbirds to connect and immerse themselves in the world of Volaria
• Additionally, the team is looking to bring Moonbirds from the digital world into the physical world introducing IRL events and physicals
Animoca x Bitcoin
• @animocabrands announced that they are coming to Bitcoin with @OpalBTC, powered by $BLIF
• $BLIF will be the OPAL Protocol Runes token to power digital life on Bitcoin. Animoca has already onboarded 6 Animoca portcos as genesis members and all future Bitcoin-based projects from Animoca Brands will partner with @OpalBTC moving forward. Other partners include @MagicEden, @XverseApp, @ALEXLabBTC and @HorizenLabs
• OPAL will be using their “Proof of Sustainable Work” model to reward their ecosystem members based on their contributions to ensure a sustainable ecosystem and to enhance the long-term vision of the protocol
Misc News
• CZ sentenced to 4 moths in prison
• @vertex_protocol starts a “buyback and stake” program for the $VRTX token
• @ParticleNtwrk confirmed their $PARTI token
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*