GM Digest #321 — TON / Linea / BSC Banging
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Defi Pulse Check
• TON continues to skyrocket in TVL, hitting $400m in June — the increase is primarily propelled by liquid staking protocols of TON such as @tonstakers, @bemo_finance
• Linea hits $1bn in TVL after 3 weeks of successful roll out of Linea Surge: Volt 1 — the increase can be attributable to the points-on-points campaigns and the slow decay of Linea points rewards that causes people to FOMO. Linea TVL has been primarily propelled by @zerolendxyz, @RenzoProtocol, @MendiFinance, and @turtleclubhouse which help boosts all Linea projects TVL
• BSC became the dark horse this week with $BNB & its ecosystem outperforming the entire market. The TVL hit $7bn again — the TVL increase can be attributable to @VenusProtocol & @PancakeSwap.
• One interesting thing to note is the rise of @SolvProtocol on BSC, Solv now has $360m on BSC with almost 50% increase during the past 7d, and their total TVL is $1.27bn. This is likely due to the launch of SolvBTC Ethena Vault where users can earn 10 - 15% APR & 6 Solv XP per $1 deposited
⇢ The only place to leverage farm Solv XP if you’re bullish on Solv is on @airpuff_io. Leverage up to 7x on Merlin Chain and allows people to farm up to 47.6 XP per $1 deposited
Spectra is Live
• @spectra_finance, a new DeFi protocol for interest rate derivatives, is now live. It allows anyone to create pools for yield derivatives, like fixed rates and yield trading
• Spectra has previously raised $2.5M to improve security and expand its capabilities across multiple blockchain networks
• The protocol uses the ERC-4626 vault standard, enhancing the utility of interest-bearing tokens. Users can earn extra yield by participating in these pools
• The $APW token is central to the Spectra Protocol, allowing stakeholders to vote on proposals and earn incentives by locking $APW for $veAPW. Users will soon vote on gauges for newly whitelisted pools. Future governance proposals will introduce protocol fees on swaps
• Upcoming updates include a Yield Marketplace, more trading tools, L2 deployments, and integrations with lending markets
Wormhole Staking
• @wormhole's governance staking for $W token holders is now live via the @tallyxyz Governance Portal
• This enables token holders to participate in governance decisions for the Wormhole DAO through MultiGov, a multichain governance system supporting Solana, Ethereum mainnet, and EVM L2s
• Staking $W tokens allows users to delegate their voting power without locking up their tokens, and they can unstake or re-stake at any time
• As part of the rollout, there's a daily limit of 100 million W tokens transferable from Solana to EVM chains. Early stakers can maximize their influence and secure their spot in the governance process
Nostra LBP
• @nostrafinance, a native protocol on Starknet, is launching a Liquidity Bootstrapping Pool (LBP) for its $NSTR token
• Nostra offers services like lending, borrowing, stablecoin minting and staking, and it currently holding $280M in TVL
• The LBP starts on Jun 10 at 14:00 UTC and ends on Jun 13 at 14:00 UTC. A total of 12,000,000 $NSTR tokens, which is 12% of the total supply, will be supplied
• All proceeds from the LBP will go to the Nostra Treasury to be used for protocol-owned DEX liquidity on Ethereum mainnet and Starknet
• The total supply of $NSTR tokens is 100,000,000. 11% of the tokens are allocated for an initial airdrop to community members who have supported Nostra, and 14% is reserved for future airdrops
Misc News
• @nftperp lists @sprotogremlins on their perp DEX
• @tradeparadex announces HODL Szn awarding 5x OI points from Jun 6 until Jul 5
• @binance introduced Ionet launchpool
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*