GM Digest #299 — Natix & Shogun Raise | Vector Rebrand to Kernel
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Natix Raise
• @NATIXNetwork secured $4.6 million from DCG, Crypto.com, Velocity Cap
• Natix is the first AI-powered dynamic map supercharged by the DePIN and driver community. NATIX Network utilizes the patent-pending AI technology to utilize any camera (in smartphones, drones, cars, and IP cameras) to create the largest crowd-sourced camera network ever)
• The data can be used to create Decentralized Dynamic Map (DDMap) that serves citizens, businesses, and municipalities with a wide range of real-time data such as crowd size, available parking spots, pothole locations, and more
• Natix is going to launch its public round on Coinlist — You can register here
Shogun Seed Round
• @shogunfi raised $6.9 million in a seed funding round, led by Polychain Capital and DAO5. The round brings Shogun's fully diluted token valuation to $69 million
• Shogun is a protocol focused on maximizing trader extractable value (TEV). It achieves this by routing liquidity through a hybrid model of centralized and decentralized exchanges
• Shogun aims to provide a unified platform for trading all tokens across various blockchains, eliminating the need for multiple wallets
• It plans to deploy trading aggregators like Jupiter across different ecosystems, including Berachain and Cosmos
• Shogun is launching its protocol in phases, beginning with an on-chain routing tool in the second quarter of this year. It will introduce its own token, $GUN
Vector Reserve Rebrand
• @vectorreserve is rebranding as Kernel Protocol, and is shifting focus from EigenLayer to Karak, introducing the first suite of Karak-native Liquid Restaking Tokens (LRTs)
• Karak's model allows restaking of various crypto assets, not just ETH derivatives, and unlike EigenLayer, Karak lacked LRTs for further DeFi activities
• Kernel Protocol aims to unlock liquidity and yield by enabling restaked assets to be utilized in DeFi on Karak
• The initial LRTs include ksETH, krETH, and kUSD for ETH-denominated and USD-denominated assets
• Additionally, users earn rewards and Kernel Points while using these LRTs. Future plans include introducing LRTs for non-ETH or non-USD assets on Karak
• $VEC token will become $KERN, and protocol fees on Kernel Protocol will fund buy-back-and-burn program
Limitless Lootboxes
• @LimitlessFi_ launched on Base mainnet after beta testing and introduced "Use and Loot" campaign to reward early users
• The "Use and Loot" campaign airdrops lootboxes to active users based on their engagement with various protocols on the Base blockchain
• Participants need to unlock boxes by using the Limitless protocol, which hold varying amounts of $NZT tokens. It runs from May 13 to Jun 21 and targets specific addresses, including LPs and active users across different protocols on Base. You can check for eligibility directly on their app
• However, $NZT is only the initial token of Limitless. All $NZT will be released at the end of this phase, with unclaimed tokens being burnt. It's not transferrable during this phase and grants eligibility for acquiring or receiving the native governance token $LIMIT in the future
IntentX Tokenomics
• @IntentX_ announced their tokenomics along with its mechanisms and token utility
• The $INTX token has a maximum supply of 100,000,000 tokens. It will be non-inflationary and will allow holders to earn real yield. Users can stake their $INTX for xINTX to receive a proportionate share of the fees generated by the protocol. These can also be “boosted” up to 2.5x based on the staking duration
• There will also be an early unstaking penalty starting at 25% which decreases over the 16 week period and also a flat redemption fee of 0.5%. The penalised tokens will be distributed to loyal stakers
Spark SubDAO
• @MakerDAO announced that the Spark SubDAO is set to launch, as part of MakerDAO’s Endgame Roadmap
• The Spark Protocol’s main offerings are Sparklend and Cash & Savings. Sparklend allow users to borrow DAI using high-liquidity assets while Spark Cash & Savings allow users to earn the Dai Savings Rate on their DAI, USDT and USDC
• Users can now participate in the $SPK pre-farming program until May 20. Once SparkDAO is launched, $SPX can be farmed via yield farming
Introducing CAKE Rush #4
• @Cakepiexyz_io introduced CAKE Rush where users can convert their $CAKE into mCAKE and receive clCKP as rewards. The Cakepie team has allocated 20k vlCKP for users worth $140k
• Converters will get 1 mCAKE along with extra vlCKP rewards for each $CAKE token they convert. In case the value of mCAKE falls below 95% compared to CAKE, the Smart CAKE Converter will step in to ensure that converters get more than 1 mCAKE for each CAKE converted, maximizing the amount of mCAKE received by users
• The mCAKE stability vault will also be used to reward long-term growth supporters
Misc News
• @Scroll_ZKP deployed dashboard for users to track “marks”. Retroactive points rewarded according to gas fees paid
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