GM Digest #327 — Symbiotic & Mellow | Lombard... Restaking Mayhem

Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril

Mellow Protocol Modular LRTs Creation

• @mellowprotocol introduces Modular LRTs

• The current problem with forces users into a single risk profile for opting into many shared security networks/AVSes. This overexposes users to multiple risks. The goal should be to create different risk-adjusted baskets.

• Mellow is working on creating a modular infrastructure for LRT creation and curation. By allowing permissionless LRT curation, Mellow enables users more choice regarding their desired level of exposure to risk, while still benefiting from the liquidity of staked assets

• This is achieved by dynamically adjusting strategies within each vault in a modular way

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Lombard Private Beta

• @Lombard_Finance is introducing Bitcoin into DeFi with a three-phase rollout. Currently in Phase 1, Lombard is in Private Beta on Ethereum, allowing selected participants to stake BTC and mint LBTC

• Phase 2, starting soon, will make LBTC publicly available with deposit caps and a waitlist to manage demand and reward early users

• In Phase 3, LBTC will be fully accessible without deposit caps, offering yield-bearing opportunities across multiple chains and ecosystems

• $LBTC is a liquid version of Bitcoin, designed to be yield-bearing, cross-chain compatible, and fully backed 1:1 by BTC. $LBTC earns native yield from Babylon Staking and Lombard Points

• In collaboration with @babylon_chain and EigenLayer, Lombard plans to unlock new utilities for Bitcoin though $LBTC soon

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Hook's Odyssey

• @HookProtocol is launching Season 1 of the Odyssey Treasure Hunt, starting today and ending on Oct 11

• Participants can earn Treasure Chests by depositing to Odyssey’s Liquidity Pools, which place market and limit orders and distribute Treasure Chests daily based on deposit amounts

• Additional ways to earn include referring traders, which grants 10% of the Treasure Chests they receive, and members of aligned communities such as Milady, $MOG and Remilio holders can also claim free Treasure Chests

• Early adopters of the legacy Hook options protocol and high-volume traders receive special rewards and multipliers

• Hook's Odyssey is a derivatives DEX for NFTs, Points and Memecoins built as a L3 appchain using Arbitrum Orbit

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BlasterSwap V3

• @BlasterSwap V3, the first Blast-native V3 spot exchange, is now live. V3 supports USDB and ETH (wETH) native yield, increasing returns for LPs

• They are currently running the "Great Migration" event where users can migrate liquidity from other exchanges on Blast to Blaster in one click, and earn some juicy rewards for doing so

• Rewards include 100,000 GOLD, double Blaster Pre-Tokens, and native reward multipliers. Boosted rewards are available for various token pairs, including USDB/WETH, wrsETH/WETH, weETH/WETH, and ezETH/WETH

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Introducing Symbiotic

• @symbioticfi introduced Symbiotic, a protocol allowing for permissionless and flexible restaking

• Symbiotic is capital efficient and has a modular design which is flexible and allows for any mix of tokens to be restaked as collateral. Slashing and reward logic is also fully configurable. Its multi-asset, and network-agnostic design also enables scalable sourcing of economic security

• The team also announced their $5.8m seed round co-led by @paradigm and @cyberFund_. They have also partnered with notable projects such as Ethena and Layer Zero

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Eigen Labs Acquires Rio Network

• @eigen_labs announced that they will be acquiring the @RioRestaking team to create an open, verifiable cloud

• Eigen Labs will not be building a liquid restaking token but will be purchasing the code and IP from Rio Network and will be open sourced as a reference implementation in the Eigen Layer ecosystem to better support new and developing LRTs

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Taiko Trailblazers

• @taikoxyz announced Trailblazers where there is 12m $TAIKO allocated to the prize pool in the first season

• 10m $TAIKO will be allocated to on-chain users of which one million will be allocated to the top 2 levels, while 2m $TAIKO will be allocated to dApps building on Taiko

• At the end of each season, all eligible users will be able to claim their rewards. The claiming period will last for 30 days

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Misc News

• @CamelotDEX to deploy on @WINRProtocol's Layer 3

• @sofamon_xyz is expanding to @Blast_L2

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*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*