GM Digest #305 — zkSync is Here?
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Magpie Ecosystem Update
• Magpie Ecosystem has now reached the Top 30 protocols spot after reaching $1.3bn in TVL — majority of the TVL is driven by growth in @Eigenpiexyz_io TVL
• @Cakepiexyz_io has brought over $11m CAKE tokens from PancakeSwap, accounting for 42% of veCAKE
• This epoch for Cakepie has $243,000 worth of rewards to be shared by vlCKP voters
deBridge Governance Token
• @deBridgeFinance introduces $DBR, the governance token for its DeFi interoperability protocol
• Community gets 20%: 2 billion $DBR for users, developers, and projects, with 1 billion DBR (10%) unlocked at TGE and the rest vesting over 3 years. Airdrop included although percentage allocated to users is still TBA
• $DBR holders can stake their tokens to participate in DAO governance, voting on key protocol decisions like validator elections and chain integrations. Governance also manages the treasury and ecosystem reserves
• Staked $DBR will serve as collateral for validators to ensure reliability. Locked tokens from strategic partners and core contributors can't be staked until vested
Reya DEX Live
• The @reya_xyz Network's Initial Trading Event is live along with Reya DEX, a platform offering ETH, BTC, and soon SOL trading with $250M liquidity
• It features gas-free, fast trades, and advanced cross-margining and collateralization
• Users can gain trading XP, participate in easter eggs, and earn rewards
• Future updates will expand available markets and collateral options
Canto Cyclone Stack
• The @CantoPublic Cyclone Stack introduces performance upgrades to enhance Canto's blockchain, making it faster and more stable. Key upgrades include
• Callisto: Reduces block time to less than 2 seconds with ABCI 2.0
• Elara: Enables parallel transaction processing for higher throughput
• Kallichore: Eliminates storage bottlenecks for faster performance
• These upgrades lower gas costs, improve user experience, and aim for sub-second block times with up to 5000 TPS. The Callisto upgrade will be released in Q2 2024, followed by Elara and Kallichore in Q3 2024
SPK Season 2 Pre-Farming
• @sparkdotfi announced that Season 2 of $SPK pre-farming launches immediately
• 6.66m $SPK tokens will be allocated monthly with a fixed allocation per block to be distributed to eligible SparkLend users on Ethereum based on the amount of ETH deposited and the DAI borrowed and the duration of the ETH deposits and DAI borrowing positions
• Upon the launch of the SPK token, users' earned allocations from both seasons will be available for claiming based on the total SPK pre-farmed
ZkSync Token Launch Soon
• @TheBlock__ announced that ZkSync is planning on a token generation this week and airdrop in the middle of June
• According to The Block’s sources, the token will have a total supply of 21b tokens and that the tentative airdrop date is June 13
• It was also reported that the ZkSync team is looking to use $ZK as its ticker
Gala Games Exploit
• @GoGalaGames was exploited and the hacker minted 5B $GALA ($214m) • The hacker then quickly dumped 592M $GALA for 5,952 $ETH ($21.8m). Gala Games noticed the exploit and blacklisted the hacker wallet address, preventing further selling
• The President of Blockchain at Gala recently resigned to be an advisor
• @DWFLabs stepped in to help alleviate the sell pressure by buying 25M worth of $GALA in the market. The dip quickly got slurped and $GALA is up over 16% over the past 24 hr
Misc News
• @MaestroBots expands to @MetisL2
• @GammaSwapLabs will be launching on Swell L2
• @BinanceLabs announced investment in @aevoxyz
• Good read on Token Launch x Node Sale by Calvin, Impossible Finance
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*