GM Digest #300 — Skate x Solana | Introducing Veda & Symbiotic
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Skate x Solana x EVM — Solving Liq Fragmentation
• @skate_chain (EigenLayer AVS) teased “Universal EVM Apps about to drop on @solana”
• With the rise of thousands of L2s, liquidity fragmentation across ecosystem & dapps become the biggest issue. Skate aims to work towards having an efficient global state across all chains
• Efficient Global State means having an infra to enable applications to run across 1000s of chains. dApps do not have to fragment millions of liquidity across different chains. Instead, they can experience a shared global liquidity state across chains
• This is possible via SkateFi/Range onchain asset management product suites — v3 liquidity management (SkateFi/Range is known to be one of the most capital efficient managers due to its PMMs), and Perp Orderbook Liquidity (Also known to be way more efficient than Elixir i.e. Elixir utilizes Uniswap v2-like architecture to provide liquidity. SkateFi/Range utilizes RFQ/PMMs to hedge on CEXes with robust order routing algo)
Introducing Veda
• @veda_labs introduces a native yield layer for DeFi, aiming to democratize native yield by tokenizing complex DeFi interactions
• Blast and Ethena are innovative protocols pioneering "Native Yield," where users automatically earn yield. However, their approaches are limited and proprietary. Protocols face challenges in developing their own native yield solutions due to resource constraints and specialized expertise requirements. This is where Veda comes into play
• The protocol seeks to offer a flexible solution to capture yield across diverse chains and protocols
• Veda's native yield layer offers verifiable capital allocation constraints, modular architecture for easy integration with new protocols, and secure cross-chain operations
• Veda positions itself as a layer below essential DeFi components like money markets, DEXs, CDPs, and even L1s and L2s, bringing native yield and tokenization to them
Allora Points
• The @AlloraNetwork Points Program is live, rewarding users for contributing to the network's collective intelligence
• Points can be earned through activities like creating topics, adding machine learning models, engaging with Allora-powered applications, and participating in community events
• These points recognize valuable contributions and will be expanded in future campaigns to include collaborations with partners, utilizing decentralized compute resources, building models with decentralized data, and deploying models on decentralized AI platforms
• Allora is a decentralized AI network that leverages mechanisms like peer prediction, federated learning, and zkML to create a self-improving system
NFTPerp Pre-Launch Vaults
• @nftperp is introducing Pre-Launch Vaults where you can deposit $WBTC to earn boosted rewards
• After 4 days, your funds automatically convert into AMM positions for new pairs
• LPs earn Blast Gold during the 4-day pre-launch period. Those who deposit and maintain AMM positions post-launch will earn greater rewards
• Deposit before May 20 to be eligible for 40K Blast Gold: 20K Gold during Pre-Launch and an additional 20K Gold post-launch
MarginFi Introduces Solana’s Liquidity Layer
• @marginfi introduces Solana’s first Liquidity Layer with enshrined lending, stablecoin and stableswap
• marginfi will be the first Layer with real native yield, embedded risk systems and off-chain data plug-ins. Devs and users will be able to earn native yield via natural staking yield through $LST, native token yield through mrgnlend and earn native stableasset yield through $YBX. marginfi is also the first Layer preserving atomic composability with the L1 and the first Layer with MEV-optimized settlement
• marginfi is currently live and users who participate in mrgnlend, $LST, $YBX and mrgnswap will be eligible for rewards
Nillion Joins the Interchain
• @nillionnetwork is the internet’s base layer for all private data allowing users to own their data through blind computation
• The team announced that they are building in the interchain, leveraging the IBC’s seamless integration with other chains
• As Nillion approaches its public testnet, users can interact with the network using testnet tokens, testing its capabilities under various conditions. Phase 1 functionalities include wallet creation, token transfers, and governance
Introducing Symbiotic
• Co-founders of Lido & Paradigm are secretly pushing “Symbiotic”, the next EigenLayer. Yes… it’s another restaking ecosystem
• Not much information is out on Symbiotic yet
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*