GM Digest #292 — Deez $NUTS
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Introducing NUTS
• @ThetanutsFi introduced $NUTS, the governance token for Thetanuts Finance
• $NUTS will be the governance token for the Thetanuts ecosystem and contribute to decentralisation, governance and to incentivise users. $NUTS can be staked for veNUTS and be used for gauge voting within the ecosystem. veNUTS can also be locked to allow users to receive up to 1.5x boosted emissions
• Any fees earned by the protocol will be accrued by the Treasury which will be governed by the DAO once governance is live
Lava Raise
• @lavanetxyz Foundation, the developers of the modular blockchain network Lava, raised $11M in funding ahead of its mainnet launch and token airdrop
• Investors include @animocabrands, @gate_ventures, and Polygon co-founder @sandeepnailwal
• Lava Network is a modular blockchain network that emphasizes data access through remote procedure calls (RPCs). It's similar to Celestia but with a focus on RPCs rather than data availability
• Lava is in the testnet phase, has handled over 20 billion RPC requests, and rewards users with Magma points for switching their RPC connection to Lava
Ghost Layer
• @silentdao_ introduces the Ghost layer, the first L1.5 for Ethereum, aiming to create a modular, secure, and privacy-preserving value transfer ecosystem
• The Ghost layer utilizes the EZEE framework, consisting of an execution layer and encryption layer, to facilitate access channels into different 0dapps while ensuring compliance and privacy
• By leveraging ZK-SNARKs and 0VM, the Ghost layer enables omni-directional movement of assets securely
• Currently users can join the Silent community to become Silencers and claim Silencer NFTs, as part of the onboarding process
Gearbox Friendly Leverage
• @GearboxProtocol's leverage farming experience is improving with the introduction of "fundamental oracles", lower borrow rates and partial liquidations
• Fundamental oracles reduce risks by assessing staked ETH rather than market price. This mitigates the risk of liquidations during market volatility by relying on EigenLayer-locked assets rather than DEX liquidity
• Instead of full liquidations, Gearbox now implements partial liquidations, minimizing losses for users and preventing bad debt accumulation
• Additionally, borrow quota rates for various assets have become more favorable recently making it a good time to potentially stack some points with leverage
Bonsai Leaves
• @bonsai_dao is expanding its team, targeting Asian markets, and developing two new projects with working titles Leaf 1 and Leaf 2
• Leaf 1 aims to unlock significant liquidity by leveraging locked assets, starting with tokens like $veAERO, $veVELO, and $esGMX
• Leaf 2 is a permissionless leverage platform, offering easy access to various DeFi strategies. It aims to simplify leveraging, and support liquidity in Umami GM Vaults
• Bonsai DAO is a new growth-driven metaDAO that will sit atop a network of powerful subDAOs — Umami being the first. $UMAMI was deprecated 1:10 for $BONSAI
• Each Bonsai leaf is a new product. Each leaf is tailored for TVL growth with customized incentives, tokenomics, and marketing strategies
Suilend Introduces Points
• @suilendprotocol is a lending borrowing protocol on Sui. The team introduces Suilend points with 10m points a day
• The 10m points a day will be shared between SUI, USDC and USDT with a 2m, 4m, 4m split. Additionally, there are additional points and bounties reserved for users who contribute to the Suilend protocol
• The team has reduced borrow fees for USDC and USDT to 0.2% as part of their points campaign launch
Misc News
• @friendtech introduces new price curves for clubs. Casual, Standard and Esclusive
• @ZetaMarkets airdrop is announced with 1% of $Z supply going to the community
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*