GM Digest #294 — Holy Grail of Internet Money
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Market Dip Further
• BTC has dipped to $60k while ETH to $2.9k level — more than $127m in long positions were liquidated
• Market is further down because of the overall macro headwind & harsher regulatory stances from the SEC, impacting investor sentiment
• According to CFTC Chair, with the rise in the price of cryptocurrency and the inflow of new, inexperienced retail investors, there will be another cycle filled with crypto-centered scams and frauds
• “We’re going to probably see in the next 6 to 18 months, or 6 to 24 months, another cycle of enforcement actions because of this cycle of asset appreciation and interest by retail investors,
Ethena: Holy Grail of Internet Money
• @ethena_labs released the 2024 roadmap detailing Unified Money Layer — its own chain powered by ENA and USDe
• Existing backing behind USDe & hedgling flow can enable a liquidity aggregation layer adjacent to our existing CEX partners to support deeper liquidity on their venues and help bootstrap new DEXes on Ethena Network
• Full Read Here
Superform Launch
• @superformxyz is live, offering a user-friendly platform for discovering, accessing, and managing yield across multiple chain, using @Hyperlane_xyz yield routes
• The platform simplifies the process of finding investment opportunities and provides tools for safe navigation
• Superform improves vault composability by minting SuperPositions, allowing cross-chain functionality without bridging liquidity or data
• On their roadmap are things like "SuperPosition Pools" for cheaper yield access on Layer 2 networks, enabling direct swaps without mainnet bridging. And, Multi-vault transactions allowing for deposits and withdrawals across chains in one transaction, saving on gas fees
• Currently they are running the "Superform Safari", a gamified rewards program, to make DeFi fun again, rewarding users for simply depositing and earning yield
Morpho's Public Allocator
• @MorphoLabs introduces the Public Allocator feature, allowing borrowers to access just-in-time liquidity by reallocating liquidity between markets
• Users can move liquidity from eligible markets to the market they wish to borrow from, significantly increasing available liquidity
• This facilitates efficient capital allocation between isolated markets, enhancing Morpho Blue's liquidity profile and scalability
• Users interact with the feature indirectly through integrated front ends, which trigger liquidity reallocation alongside borrow transactions. The feature is restricted by customizable limits set by vault owners or admins, including max flows and fees to prevent negative impacts on market rates and risk profiles
Camelot Fork on Blast
• @PlanarFinance is a Native DEX and Liquidity Infrastructure Protocol on Blast, offering Real-Yield for users and tools for protocols, including a Launchpad, Dynamic Directional Fees, and Hyper Pools. Planar is a complete fork of Camelot
• Users benefit from maximizing capital efficiency through features like Multi-Curve AMM and Liquidity Position NFTs
• They have the familiar Camelot tokenomics with dual tokens $PLANE and $xPLANE, and majority emissions in $xPLANE with vesting
• They are also running the Camelot launch playbook with “Origin Pools” that offer high yield for early adopters, serving as exclusive farms before the official launch of the $PLANE token
• Users can deposit for a chance to earn $xPLANE tokens gradually over 3 months, alongside Blast's native yield, Blast points, Trading Fees, and exclusive Origin Pool rewards. Withdrawals are allowed at any time, with rewards redistributed to remaining participants
1inch Fusion 2.0
• @1inch introduces 1inch Fusion 2.0 with up to 35% cheaper order settlements and 75% faster execution
• Since its launch in December 2022, 1inch Fusion has revolutionized DeFi, enabling MEV-protected swaps without paying gas fees. More than $25bn in swap successfully executed by Fusion
Arrakis HOT
• @ArrakisFinance Introducing HOT: An MEV Aware, Intent-Centric AMM Design
• Toxic flows that stemmed from sophisticated actors exploiting the price discrepancies between CEX & DEX i.e. loss-versus-rebalancing (LVR) & MEV, have invited many onchain liquidity engine like Gamma, Arrakis, to help mitigate the problem
• Arrakis have identified another problem & opportunity, “how do we attract even more non-toxic flow?” Given the rise in Intent-centric protocol, private market makers (PMMs) dominate the good non-toxic flow
• HOT (Hybrid Order Type) is a first of its kind MEV aware AMM design that drives better outcomes for LPs by merging the benefits of PMMs with the permissionless nature of traditional AMMs which in practice will protect LPs against toxic flow and attract more good flow
• Normal AMM swap on one hand. On the other hand there’s “flash swap” that operates through RFQ system that allows permissioned [solvers](https://docs.cow.fi/cow-protocol/tutorials/solvers#:~:text=What is a Solver%3F,best possible overall trading experience.) to receive a guaranteed or deterministic quote to trade against the pool. This will bring more volume, more fees, and more arbitrage protection to the LPs
Algebra Integral’s Liquidity Lock Plugin
• @CryptoAlgebra introduced Liquidity Locking Plugin, developed by @BrokkrFinance
• With Brokkr's Liquidity Locking hook, users will be able to securely lock liquidity in pools & receive rewards in return, either through minted tokens or third-party sources. Safeguard liquidity while earning additional tokens
Introducing Rysk V2
• @ryskfinance introduced v2 offering a CEX-like experience options with decentralized deep liquidity
• Introducing 100x Finance and Rysk Orchestra — @100xfinance is a fast, low latency Central Limit Order Book (CLOB) DEX going live in May 2024 on @Blast_L2 , offering perps, pre-launch perps, and MOVE contracts (soon)
• Rysk Orchestra is a vault network designed to provide deep, unruggable liquidity to the 100x orderbook and beyond. The vision is to become the deepest liquidity layer for derivatives
Misc News
• @wormhole integrates with @Scroll_ZKP, now available on Portal Bridge
• @layer3xyz introducing $L3 token
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*