GM Digest #317 — Cod3x | Ordiswap v3
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Introducing Cod3x
• @Cod3xOrg is an AI-driven DeFi platform that launched on May 27. It aims to simplify DeFi with a user-friendly interface, cloud-based hardware wallets, and AI agents to handle complex transactions
• Cod3x' use of lightweight AI agents to interpret user commands, build transactions, and manage queries is for its "Agentic Interface", which is a tool that performs complex operations using expressions of intent
• The $CDX token, the platform's native governance token, will be distributed through airdrops and auctions to incentivize users and fund development
• The Airdrops will primarily go to users of Cod3x Chapter protocols (@IroncladFinance, @GlyphFinance, @AureliusFi, @EthosReserve) and other partners
• The $CDX token will launch on Ethereum with staking rewards and governance powered by the time-weighted staking system, Reliquary
Ordiswap V3
• @OrdiswapLabs V3 is now live on the Bitcoin Mainnet for testing by whitelisted users. This new version is the first native Automated Market Maker (AMM) on Bitcoin
• In a nutshell it offers swaps, liquidity provision, and pool creation with reduced gas costs and high speed
• Transaction batching and Bitcoin locks reduce gas fees by 50%. During the initial testing phase, Ordiswap will cover full transaction fees to ensure priority in block confirmation
• V3 introduces high throughput with just one block confirmation needed for liquidity provision and two blocks for swaps
• The current closed-testing phase gathers user feedback, with public access coming soon
Introducing Paradex
• @tradeparadex is a derivatives exchange built on Starknet's first Appchain. Currently live on mainnet as a public beta
• It is self-custodial, with an on-chain risk engine for capital-efficient derivative transactions. Currently offering perpetual futures trading, with plans to add more assets soon
• They are also running a points program, that started Feb 1 and distributes 1,000,000 points weekly to users
• Points are given for trading volume (70%) and providing liquidity (30%). Users can also earn points based on their account's Open Interest and TVL
Velocore Post Mortem
• @velocorexyz shared their post mortem on the exploit that happened yesterday ($10m was drained)
• The team confirmed that only volatile pools (CPMM) on zkSync and Linea were affected despite undergoing multiple audits
• The team is currently trying on-chain negotiations for the hacker to accept the bounty. The team is also in communication with various protocols, centralised exchanges and security partners. A snapshot of the state prior to the exploit has been taken and the team for the compensation plan
June Token Unlocks
• @TheBlock__ published major token unlocks for this month
⇢ $APT: $100m unlocked on June 12
⇢ $IMX: $55m unlocked on June 14
⇢ $STRK: $75m unlocked on June 15
⇢ $ARB: $103m unlocked on June 16
⇢ $ID: $56m unlocked on June 22
⇢ $OP: $77m unlocked on June 30
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*