GM Digest #285 — AAVE 2030
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Aave 2030
• @aave with it's plan for 2030 and beyond, seeks to enhance the protocol through tech advancements like ZK networks and Superchains
• As part of 2030 agenda Aave is gearing up for its next iteration, Aave V4. It aims for enhanced modularity, reduced governance overhead, optimized capital efficiency, and seamless integration Aave-native stablecoin $GHO
• Additionally, with advancements like CCIP, superchains, and V4's Unified Liquidity Layer, Aave plans to become a fully cross-chain liquidity protocol. Borrowers can access instant liquidity across networks, potentially turning Portals into a lucrative revenue source
• Aave also plans to integrate RWAs into its ecosystem using $GHO. After Aave V4, Aave Labs, along with other contributors, will focus on innovating RWA-based products around $GHO
• Aave Labs proposes the Aave Network as a central hub for Aave and $GHO. Ethereum will remain the base for Aave DAO, but the network can expand Aave and $GHO into new markets
• Key features of Aave Network include using $GHO for fees, integrating Aave V4, and $AAVE as the main staking asset
Redstone Mainnet
• @redstonexyz mainnet is now live after a month-long "Race to Mainnet" and nearly a year of development. It's designed to address scalability issues for applications using MUD engine on traditional L2 solutions
• Redstone is a Plasma-inspired alt-DA protocol on the OP Stack offering a cost-effective chain for onchain games and ambitious applications. It functions like an optimistic rollup but posts data commitment hashes instead of input states to L1
• The protocol supports highly moddable apps built with MUD, allowing users to create plugins, game modes, and third-party clients
• On mainnet Redstone launches with additional features like Redstone Market for NFTs, relay . link for fast bridging, Redswap DEX, and support for various networks and wallets
• Redstone utilizes Plasma Mode, developed with the help of Optimism, as its data availability protocol, reducing costs and data footprint on Ethereum mainnet
• Additionally, Redstone kicks off the “Redstone Worlds Expo”, showcasing new games daily from May 1st-15th. The Redstone Origin NFT is available for minting only until May 2 at 16:00 UTC
Introducing USD3
• @USD_3 aims to become the "Web 3 Dollar" by offering market-leading rates, transparent asset backing, and safe yield at 10% APY
• It's backed by reputable protocols like Aave, Compound, and PayPal USD, with overcollateralization and a treasury sharing system
• It incorporates lessons from the @HighYieldUSD pilot project and uses a blend of assets to generate yield. It benefits from market-tested overcollateralization and utilizes the same mechanism as eUSD during stress tests
• 85% of revenue will go to $USD3 holders, 12% to $RSR Stakers, and 3% to USD3 Treasury
• USD3 acts as a blue-chip stablecoin index with dynamic basket managed by $RSR stakers
Introducing Ebisu
• @ebisu_finance is an overcollateralized, decentralized stablecoin
• Users are able to borrow ebUSD against their LRTs allowing them to also generate yield via @EigenLayer AVS and Eth staking yield. The protocol comes with a Stability Pool that holds deposited ebUSD that is burned to cover outstanding debt from liquidated loans. This facilitates efficient liquidations of bad debt ensuring overcollateralization of ebUSD
• ebUSD will always be redeemable at face value for $1 of LRT. This allows arbitrage opportunities when ebUSD loses peg
• Upon launch, Ebisu will support weETH, ezETH, rswETH, rsETH, pufETH and reETH
Sanctum Wonderland Live
• @sanctumso introduces infinity pools, multi-LST LPs on Solana
• The team announced that Sanctum Wonderland is live and users can now collect Pets and earn EXPs while earning yield on their SOL. Users who collect at least 0.1 SOL worth of Sanctum Liquid Staking Token will be able to collect its corresponding pet. Additionally, holding LSTs in the wallet allow the Pets to earn EXP
Misc News
• @nim_network announced that the Nim Mainnet is now live
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*