GM Digest #318 — More Liquidity Consolidation
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Introducing Everclear
• Connext introduces @EverclearOrg as the first clearing layer to coordinate global liquidity settlement between modular blockchains, addressing liquidity fragmentation and improving UX
• The clearing layer is a decentralized network to coordinate netting and settlement of capital flows
• Everclear aims to reduce costs and complexity for solvers, market makers, and centralized exchanges by up to 10x, similar to how Visa processes transactions
• Additionally, Everclear allows programmable settlement to connect different protocols and mechanisms, and supports permissionless liquidity for new chains from the start
• Everclear is built as an Arbitrum Orbit rollup with EigenDA. Users deposit funds into Gateway contracts on each supported chain, and Everclear processes these in batches. Deposits generate invoices, which are settled through a Dutch Auction, where the price decreases over time until arbitrageurs buy them
• Currently testnet is live, while Connext brand is being rebranded to Everclear, and $NEXT will be the native token governed by the Everclear DAO. Alpha mainnet launch in early Q3
Aark Tokenomics
• @Aark_Digital has finalized the tokenomics for $AARK, its governance and utility token, with a total supply of 1,000,000,000 tokens launching on the Arbitrum network
• At launch, 4.4% will be liquid. $AARK is divided among various allocations: Genesis Incentives (7.2%), Community Rewards (29.4%), Early Investors (22.1%), Team (20%), Ecosystem (16%), Core Contributors (3.4%), and Advisors (1.9%)
• $AARK serves several roles. 1. Governance: $AARK holders manage protocols, oversee the ecosystem, and steward finances. 2. Staking: $AARK earns rewards and $esAARK emissions, which can be further staked or vested. 3. Fee Discounts: Traders receive fee discounts based on their $AARK holdings, requiring staking post-TGE
• Vesting Rules: $esAARK can be converted to $AARK over a year, with staking able to speed up this process
Nillion Testnet Live
• @nillionnetwork announced the launch of the Coordination Layer Testnet beginning with Phase 1, the Genesis incentivized sprint
• Phase 1’s Coordination Layer functionality includes Keplr wallet creation, transfer of testnet tokens, stake tokens and test on-chain community governance and download the Nillion SDK and turn Telemetry
• Phase 1 will be the precursor to prepare the network for more complex operations in Phase 2 aiming at increasing decentralization by bringing external nodes online and thoroughly testing applications built in Phase 1
Introducing NSTR
• @nostrafinance is a Superapp built on Starknet allowing users to lend, borrow, swap and bridge. The team announced that they will be launching their $NSTR token
• $NSTR will have a total supply of 100,000,000 tokens with 100% unlocked at launch and 11% airdropped to the community upon TGE
• There will be a public sale via LBP from June 10 to June 13 with proceeds going towards DEX liquidity. TGE + airdrop will be on June 17
Linea Update on Velocore
• @LineaBuild gave an update on the Velocore incident confirming that they deliberately halted the chain to contain the exploit
• When the team was alerted about the ongoing exploit of the Velocore protocol, the team could not get hold of the Velocore team and halted the sequencer from block 5081800 and 5081801 to prevent additional funds bridging out
• Linea is still in its "training wheels" phase of existence like other L2s giving them safeguards such as the ability to halt the chain. However, this will no longer be possible once their network is decentralised
Misc News
• @SolvProtocol is integrating SolvBTC with @Coredao_Org Chain
• @Rabby_io hints of another snapshot
• @RariChain is going to use to @CelestiaOrg for DA
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*