GM Digest #286 — RoyCo, New Defi Primitive
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Mode Airdrop
• @modenetwork's Airdrop 1 campaign ends on May 5, and the $MODE token is set to launch on May 7
• The top 2,000 wallets will receive tokens split into two tranches, 50% at TGE, and 50% vesting over 90 days. The amount of vesting tokens you get is dependent on continued ecosystem participation during the vesting period
• There'll be minimum points requirement to qualify for the airdrop, and any unclaimed tokens during the claiming window will be reallocated to remaining participants. Additionally, continuing Airdrop 1 participants get a multiplier in Airdrop 2
• $MODE is the governance token for Mode, with a total supply of 10,000,000,000 and an initial circulating supply of 1,300,000,000
• 35% of the supply is reserved for user and developer airdrops, split between Airdrop 1, Airdrop 2, and future airdrops
Introducing Royco
• @roycoprotocol is a Liquidity Coordination Protocol aiming to streamline liquidity negotiation in crypto
• Partner Protocols can plug in and offer incentives in exchange for liquidity with users interested in the offer
• It introduces Liquidity Coordinators, programmable pools defining asset usage, and an Order Book for negotiating liquidity
• Users and projects can create offers and counter offers, and each position is tokenized giving holders the opportunity for an easy exit if needed
• Royco aims to democratize liquidity access, offering opportunities previously limited to whales. If you are interested you can join their waitlist for early access
Introducing Fenix
• @FenixFinance is now live on Blast L2, offering a decentralized spot and perpetuals exchange infrastructure
• Liquidity providers earn Fenix Rings based on their deposited liquidity and generated fees, redeemable for the Fenix airdrop
• The platform simplifies liquidity provision with @ichifoundation’s automated Yield IQ vaults, which means you can deposit only one asset, and there is no need to manually adjust your position to stay in range. Additional automated liquidity manager vaults from @GammaStrategies and @steerprotocol will be implemented down the line
• The roadmap includes risk management features, delta neutral vaults and a perp trading platform, Fenix EON, powered by @symm_io and @IntentX_
Puffer x SSV
• @puffer_finance integrates with @ssv_network, collaborating with @HashKeyCloud & @InfStones. SSV enhances Puffer's performance, diversity, and resilience
• Puffer is a decentralized Liquid Restaking Protocol with permissionless bonded Node Operators
• SSV introduces Distributed Validators (DVs) for decentralization and fault tolerance, maximizing uptime and rewards
• DVs are permissionless, allowing anyone to contribute to Ethereum's decentralization. Puffer is testing SSV on the latest testnet before launching on mainnet
BOB Mainnet Live
• @build_on_bob (BOB) announced that their Mainnet is now live with Phase 1 having 40+ projects launching, $300m in TVL and Season 2 of BOB Fusion
• Phase 1 of BOB integrates as an Ethereum rollup providing easy access to stablecoins and bluechip ERC20s plus fast on/off ramps via major exchanges and ETH L2s
• Season 2 allow users to earn Spice by bridging to BOB and contribute TVL on DApps, using BOB DApps and to engage in quests on Galaxe
• Additionally, Phase 2 and 3 of the roadmap intorduces integrations with Bitcoin’s PoW security and for trasnactions to settle on both Bitcoin and Ethereum leveraging BitVM for better security
Introducing reALT
• @alt_layer introduced reALT in Phase 2 of their staking program
• reALT is an auto-compounding version of the $ALT token which auto-compounds staking yield from $ALT staking
• With reALT, users can participate in different pools to maximize their exposures while benefit from auto-compounding
Liquity v2
• @LiquityProtocol introduced v2 — a superior CDP model with user-set interest rate that personalizes risk management and potentially lead to more competitive borrowing interest
• The choice of interest rates affects the loan position’s redemption order with users opting to pay more borrowing interest rate getting redemption protection vs. users who choose to pay for lower interest rate
• v2 also allows for multiple collateral types, more built-in incentives for liquidity providers, and adaptive redemption mechanism
• Interesting Read Overview | Earning with BOLD (BOLD is the new stablecoin for v2)
Misc News
• @SturdyFinance is launching on Swell L2
• FriendTech token is live
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*