GM Digest #319 — BNB Szn
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
BNB Szn Back?
• BNB has reached new ATH, pumping over 12% to $700 over the past 24 hours — BNB ecosystem coins have also gained traction with $CAKE pumping 16% to $3
• All eyes are now pivoting to BNB beta plays and $CKP could very well be one of a good one whose fundamentals have been performing quite well
• In May, Cakepie has achieved
→ $461,000 distributed via Cakepie’s Voting Market → CAKE RUSH #4 concluded: +1M CAKE accumulated → Surpassed 11M veCAKE. Cakepie now have 43.5% veCAKE voting power → CIP #4 went live → Deployed the mwBETH Pool
• $CKP price has moved up 13% as well in the last 24 hour (Currently $18m MC). This is still far below its ATH of $12.7
Vaultka LTIPP Boost
• @Vaultkaofficial has received 1 million $ARB from the Arbitrum LTIPP to boost user and lender earnings with additional $ARB yields
• Vaultka will use the grant to increase lending capacity and alleviate high utilization rates by boosting lending pools
• They will also boost PerpDEX LP tokens via incentivizing usage of leverage and strategic vaults
• This mean bonus $ARB incentives for leveraged trading fees, double rewards for lenders, and higher revenue shares for $veVKA holders
• The $ARB incentives will be distributed over 12 weeks, with bi-weekly claimable rewards
Avail Series A Round
• @AvailProject has raised $75M, with $43M from its Series A round, to build a unification layer for Web3. The funding comes from major investors including @foundersfund, @dragonfly_xyz, and @cyberfund_
• They are developing a Data Availability (DA) solution to help rollups scale, inspired by Ethereum’s Danksharding roadmap
• Avail DA, their main product, will launch soon and has already processed over 118 million transactions in testing
• Avail’s unification layer includes three core modules: Avail DA, Avail Nexus (a cross-chain coordination hub), and Avail Fusion (a shared security layer using multiple crypto-assets)
• Avail was initially part of Polygon Labs and is now an independent entity led by former Polygon executives. The next step is launching Avail DA on the mainnet.
IntentX Tokenomics Update
• @IntentX_ has made a significant update to its $xINTX tokenomics and value mechanism. All protocol revenue will now be used to buy back $INTX from on-chain markets instead of distributing stablecoins
• Specifically, 75% of the revenue will go towards buying back $INTX, which will be added to the backing pool as rewards for stakers, while 25% will be used to build long-term POL (Protocol Owned Liquidity)
• Stakers will receive rewards in the form of INTX Backing Rewards, sourced from the $INTX buybacks and the $xINTX exit penalty
• This change aims to enhance market adaptability, providing flexibility to adjust to varying market conditions, which will be periodically re-evaluated. Additionally, it will increase liquidity and buy-side pressure
• In the near future, a governance voting structure will be established, allowing $xINTX stakers to decide their preferred revenue split: stablecoin, buyback, or a mix of both
Borpa Airdrop for Entangle Eco
• @BorpaTokencom is launching a public sale today, and there will be an airdrop of 60 million $BORPA tokens for @Entanglefi ecosystem members
• To be eligible for the airdrop, you must stake NGL tokens or Webverse NFTs. For NGL stakers, a minimum of 4000 $NGL is required, with additional rewards for staking more. For Webverse stakers, the longer your NFT is staked, the higher the rewards based on its energy level. Snapshot on Jun 11 at 11:59pm UTC
• The airdrop allocates 10% of Borpa’s total supply, with 2% for NGL stakers and 4% for Webverse stakers. At the Token Generation Event (TGE), 33% will be released initially, with the remaining 67% vested daily over 21 days
Introducing Fantasy Burn
• @fantasy_top_ introduces Fantasy Burn where users can burn 2 cards for a new one of the same or higher rarity
• When users burn 2 cards, they have a 0.5% chance of getting a card with a higher rarity and will mint a different hero from the ones they burned. Cards burnt are also according to the inflation rate shown on the Hero profile. The least popular heroes will have a higher chance to be minted
• Users who participated in early access with the 3-for-1 setup will receive a free card for each burn completed before the update
Penpie Karak eETH Pool Live
• @Penpiexyz_io has launched Karak eETH Pool. Users can earn boosted $PENDLE rewards + 1.5x Karak XP + 2x EtherFi points
Misc News
• @CamelotDEX xGRAIL holders will also earn $DMT rewards next epoch thanks to fees generated on @SankoGameCorp's Orbit chain
• @lagrangedev ZK Prover Network launched on EigenLayer powered by 20+ top operators e.g. Coinbase, OKX, Staked US, Alt Layer, P2P, and more
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*