GM Digest #341 — Ethena Goes Symbiotic
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Ethena x Symbiotic
• @ethena_labs has launched restaking pools for its $ENA and $sUSDe tokens on @symbioticfi. These pools provide economic security for Ethena's cross-chain operations
• Ethena leverages Symbiotic's restaking framework along with LayerZero's Decentralized Verifier Network (DVN) to secure cross-chain transfers of assets like $USDe and $sUSDe. Restaked $ENA ensures the economic security for these transfers
• Ethena maintains control over all aspects of their restaking implementation, including supported assets, ratios, caps, operator selection, rewards, and slashing mechanisms
Hyperlane AVS
• @hyperlane AVS, now live on mainnet, offers a fast and affordable cross-rollup interoperability solution secured by EigenLayer restaked ETH
• This approach addresses the fragmentation issue caused by rollups, providing a universal solution for cross-rollup interoperability anchored to Ethereum
• Hyperlane AVS uses restaked ETH for economic security. Validators validate messages on the origin chain, with fraud evidence being handled by Ethereum’s smart contracts
Sweepr Airdrop
• The @sweepr_fi airdrop is will distribute 5% of the total supply (35,000,000 $SWEEPR tokens) to holders of specific NFT collections in three phases: Free Money, Participation, and Prolonged Participation
• To qualify, users must hold one of the following NFTs on Jul 1: Milady Maker, Pudgy Penguins, Bong Bears and Rebases, Honey Comb, Redacted Remilio Babies, Lil’ Pudgys, Schizoposters or CryptoPunks
• In the "Free Money" phase 7,000,000 $SWEEPR tokens will be allocated to holders of said NFT collections. Users who hold multiple NFTs or NFTs from different collections can claim multiple allocations, with a 1.5x multiplier for holding 5+ NFTs of a single collection
• In the "Participation" phase 10,000,000 $SWEEPR will be distributed to users who claimed Free Money, created an $xSWEEPR position, and voted in the first two Sweepr Acquisition Proposals (SAP)
• In the "Prolonged Participation" phase 18,000,000 $SWEEPR will be given to those who also vote in SAP 3 and 4
• Snapshots will be taken at the conclusion of SAP 2 and SAP 4, and tokens will be airdropped directly to users' wallets without needing to claim them
BLAST TGE
• @Blast_L2 announced that their $BLAST token is live
• The team shared their Blast Vision where they aim to be a full stack chain opening doors to new applications and experiences
• Users now have 1 month to claim their Phase 1 airdrop
Aevo Tokenomics Update
• @aevoxyz announced some changes to their tokenomics
• The team announced that they will be buying back $AEVO as part of their original AGP-1 plan and is committed to buying back at least 1m $AEVO from July to December. The team also announced that they will not be renewing their trading rewards campaign
• Staking rewards will remain the same with 100k $AEVO distributed per week
Misc News
• @STFX_IO, a social trading platform announces Arbitrum LTIPP incentives going live next week
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*