GM Digest #288 — Sturdy DevDrop
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Sturdy DevDrop
• @SturdyFinance is giving away its entire Mode DevDrop allocation to the community. This initiative distributes special edition NFTs on the Mode network to reward community support
• Sturdy received a large cache of NFTs, which will convert to $MODE tokens later, providing community members with additional $MODE beyond the point program
• 40% of the NFTs will reward past users based on deposit size and time, 20% will go to the social community, and 40% will incentivize future users
• Sturdy is one of only 16 protocols receiving DevDrop allocations
Introducing MASA
• The Masa Network @getmasafi is a decentralized network focused on AI and LLM (Large Language Models). It allows users to own, share, and earn from their data and computational power, particularly for AI applications
• Masa recently launched on Ethereum, Binance Smart Chain, Base and on the Masa Network, their dedicated Avalanche Subnet
• The $MASA Token fuels the Masa AI Network, offering various utilities like incentivizing data supply, paying for data use, managing personal data, rewarding node operators, and governance
• Additionally, Masa launched a staking program with CoinList, allowing users to stake MASA tokens for 3, 6, or 9 months with APY rates of 15%, 20%, and 25%
Introducing Velodrome Superchain
• @VelodromeFi announced the launch of the Velodrome Superchain with their first deployment on Mode and will slowly expand across the OP Stack L2 chains
• Velodrome as a MetaDEX will enable Optimism’s Superchain vision by serving as a central liquidity and trading hub across all the Superchain L2s. Mode, BOB, and Lisk have already committed to launch incentives campaigns on Velodrome totalling over $2M in voting rewards and customized points programs. They will also acquire veVELO to direct VELO rewards across their ecosystems
• With the Velodrome Superchain Beta, self contained gauges and AMs will be deployed on each Superchain to enable liquidity bootstrapping. Chains and protocols will be able to incentivize LPs directly on their native chains using their native network token. All these will be happening via the Velodrome front end
Introducing NewStable and NewGovToken
• @MakerDAO introduced NewStable (NST) and NewGovToken (NGT). NST is the codename for the upgraded version of DAI and NGT is the codename for a new governance token within their ecosystem
• NST will be designed for broader adoption and enhanced stability features. It will be accessible to both new users and existing Dai holders. Users will be able to convert their Dai to NST whenever they like
• $MKR holders will also have the option to convert their tokens to NGT whenever the choose and back. Each $MKR will be equivalent to 24000 NGT tokens
Misc News
• @bonsai_dao announced that $UMAMI migration to $BONSAI is underway
• @KelpDAO withdrawals for $rsETH are live
• @Neon_EVM announced that Eclipse will be integrating with the Neon Stack
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*