GM Digest #291 — Virtuals
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Introducing Virtuals Protocol
• @virtuals_io is a decentralized system for creating and selling AI agents for virtual worlds launching on Base
• It's like a digital character factory benefiting creators, validators, DApp founders, and IP contributors
• $VIRTUAL is the main token for the Virtuals protocol, rewarding contributors and validators, influencing development support for virtual agents, governing the protocol's treasury, and benefiting from a buyback scheme and airdrop rewards
• The Virtuals flywheel should be as follows: Contributors earn $VIRTUAL tokens for developing agents, which are then used in DApps generating revenue. The protocol uses this revenue to buy back $VIRTUAL tokens
• Token holders influence the ecosystem by staking tokens with preferred agents, affecting token emissions and resource allocation
• Recently they launched Audio-to-Animation (A2A) subnet on Bittensor mainchain, for creating dynamic visuals with audio inputs
Botanix Raise
• @BotanixLabs secured $8.5M in funding from Polychain Capital, Placeholder Capital, Valor Equity Partners, and others
• The funds will be used to develop Spiderchain, a Layer 2 solution for Bitcoin that mirrors Ethereum's capabilities, aiming to scale Bitcoin
• Spiderchain utilizes decentralized multi-sig technology to secure funds and allows interoperability between Bitcoin and Ethereum networks without wrapped assets
Isekai Portal
• The $XP Portal Event on @isekaimoney offers users a chance to exchange tokens like $ETH and $AURA for $XP, distributed based on chosen pathways
• Players can obtain Camelot spNFT (Jones Vault) tokens to participate. The total $XP supply is 10,000,000, distributed proportionally among participants
• Tokens can be claimed after the event, with 40% as $XP and 60% as eXP. Claimed tokens can be used for engagement rewards or paired with $ETH for XP-ETH LP Tokens for concentrated yield
Lyra Introduces Tokenized Derivatives
• @lyrafinance announced that they are introducing tokenized derivatives yield on EigenLayer
• Lyra tokenized derivatives maximize the return on each LRT with real yield via Basis Trade (to harvest ETH funding rate yield) and Options Selling (to harvest volatility)
• End users deposit LRTs into Lyra to mint a yield-bearing derivative token which executes a predefined strategy allowing any yield-bearing derivatives trade to be automated and packaged up into a composable ERC-20
Introducing Nekodex
• @perpprotocol introduces Nekodex, a mobile trading app powered by Perp V3
• Nekodex is the first DEX integrating Ethereum Account Abstraction with Passkey and PWA technology. This means that there is no need for wallet apps, gas fees and signatures for every trade
• The team announced that at launch, Nekodex will be using Nekocoin as the only collateral and will be giving it away for free. This allow users to start trading and earn more Nekocoin 100% risk free
Misc News
• @0xhoneyjar honeycomb holders get 50% boost on @ambient_finance points
• @ethena_labs announces that this week $USDe will be embedded in a tier-one CEX
• @modenetwork token -65% in a day. Given the discrepancy with FDV/TVL, this could be a buy the blood play
• @Karak_Network enables 1.5x Karak XP on LST, Stablecoin, and wBTC deposits
• @silentdao_ introduces L1.5 Ghost Layer
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*