GM Digest #298 — Polymarket / Zeta Raises
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Polymarket Raises $45M
• @Polymarket, a prediction market platform, raised $45M in a series B funding round, led by Peter Thiel's Founders Fund and backed by @VitalikButerin and others. This brings its total funding to over $70M
• The platform allows users to bet on real-world events, such as SEC approval of an ETF for Ethereum
• Despite being locked out of the U.S., it has seen significant activity, with over $202 million in wagers this year
Asteroid Expansion
• @asteroidxyz, known for its inscriptions protocol on Cosmos Hub, plans to expand to the Bitcoin ecosystem
• Despite this expansion, it will continue to focus on Cosmos Hub developments. The goal is to make token and artwork deployment easy on both platforms
• They will also launch a new token and offer Ragepass inscriptions to active users, with details on airdrops for $ROIDS tokenholders coming later
Zeta Markets Raise
• @ZetaMarkets completes a $5M strategic round led by Electric Capital, with participation from other investors, bringing total funding to $13.5M
• Zeta Markets is developing Solana's first DeFi Layer 2, aiming for centralized exchange performance while maintaining decentralization
• The L2 will support Central Limit Orderbooks (CLOB) and direct bridging from Solana
Ripple's EVM Sidechain
• @ripple and @Peersyst will use @EvmosOrg to enhance the XRP Ledger (XRPL) by building its EVM sidechain, providing EVM compatibility and full customizability on top of the Cosmos SDK
• This enables XRPL to join the interchain, connecting its community to over 90 blockchain networks. With evmOS Outposts, interoperability is further enhanced, allowing seamless asset transfer between different blockchains
FJO Staking
• @FjordFoundry announced $FJO staking allowing $FJO holders to grow protocol ownership overtime
• Staked $FJO will be locked for 6 weeks and rewards will be distributed weekly. Stakers can collect rewards anytime but it will trigger a 21 day vesting period. Stakers can skip vesting and claim 50% of their rewards instantly while forgoing the rest
• There is also a buyback and burn mechanism where Fjord uses at least 90% of profits to buy back $FJO from the open market. A portion of the repurchased tokens will be burned, deflating the supply overtime
Introducing Lens Network
• @LensProtocol introduced Lens Network aiming to create an open and fair social network for everyone
• The Lens Network will be a ZK Rollup leveraging @zksync’s stack. It will be launching in a 3-phased rollput plan starting as an EVM-compatible Validium chain on Ethereum and converting into a Volition network built with the ZK Stack
• Lens Network will become the main hub for Lens Protocol’s existing users. Separate instances of Lens Protocol can also be deployed on other EVM and non-EVM networks
Misc News
• @vertex_protocol announces expansion to Bitcoin, utilizing @BotanixLabs’ Spiderchain EVM L2
• @initiaFDN testnet is live → Guide by Ahboyash
• @Equalizer0x front-end got hacked
• Liquity v2 whitepaper is out → BOLD, Dynamic fees market, etc. Suggest reading it Here
• @SonneFinance has been exploited for $20m with known donation attack to Compound v2 forks
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*