GM Digest #333 — Solana L2
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Tokenized Time
• @timedotfun is a platform on Base that allows you to tokenize and trade your time
• The concept is that you tokenize your time in minutes, allowing fans to buy, trade, and redeem it for 1-on-1 experiences
• The mechanism creates time experiences on a bonding curve, increasing value with demand
• Fans can redeem time for meetings and messages, with more products coming soon like timeholder gated Telegram groups managed by a bot
• Creators on Time.fun earn up to 2.1% from trades, 95% from redemptions, and 0.5% from referrals. A portion goes to a timeholder fund for creators to reward fans
• There will be a $TIME airdrop and Season 1 has just started
Sonic Series A Raise
• @SonicSVM, a Solana Layer 2 network for gaming, has raised $12M in a Series A funding round led by @BITKRAFTVC. Implied FDV at $100M
• Total funding is $16M, including a previous $4M seed round in 2022
• Built by Mirror World Labs using HyperGrid Framework for horizontal scaling via rollups on Solana
• Provides fast, low-cost on-chain game experiences, allows seamless deployment of dApps from EVM chains to Solana
Hybrid Layer 2
• @BuildOnHybrid shifted from a custom Layer 1 blockchain to an Ethereum-based Layer 2 using Arbitrum Nitro and Caldera's Rollup as a Service with Anytrust for data availability
• The aim is to focus resources on developing AI products like custom AI Agent infrastructure and Atlas, rather than maintaining a Layer 1 blockchain
• They also wanted to avoid the challenge of gaining traction with a Layer 1 by leveraging the Ethereum eco and Arbitrum's rich array of dApps
Introducing cmETH
• @0xMantle introduced a new liquid restaking token, cmETH following the passing of MIP-30 to bring on the next phase of mETH
• cmETH aims to capitalize on the expanding restaking market, offering the highest yield exposure LRT in the industry while being more liquid and composable and with strategies deployed across Mantle’s ecosystem partners to provide further value accrual for users
• The launch of cmETH will be accompanied with a points program for early supporters and will include points conversions into $COOK, varying point accrual rates for mETH across applications and a referral program
• Season 1 will begin on July 1 and will last for 100 days
zkEVM on Ronin
• @Ronin_Network introduces the Ronin zkEVM
• Game devs will soon be able to launch their own L2 on Ronin with the help of Polygon’s Chain Development Kit (CDK). The Ronin zkEVM will allow more types of games to be onboarded onto the Ronin ecosystem while also aligning incentives between Ronin Layer 2 chains and Ronin’s mainnet
• The team currently plans to launch the first zkEVM chains in Q1 2025
Misc News
• FOX Corp. launches enterprise L2 chain On @gelatonetwork, powered by @0xPolygon CDK
• @Scroll_ZKP introduces NURI, Scroll’s Next Gen DEX combining Uniswap V3’s security with innovative governance and incentives
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*