GM Digest #357 — And We're Up Again
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Mantis Native Yield
• @mantis is integrating @marginfi’s lending pools to provide native yield for users
• Staked assets on Mantis will be deposited into marginfi lending pools, generating additional yield alongside native staking rewards
• This applies to SOL, LSTs, and stablecoins, allowing users to earn both native staking, restaking and lending yields
• Mantis is an SVM rollup (Solana L2), and is yet to have it's TGE
Rage Tokenomics
• @rage_trade tokenomics outline the distribution and unlock terms for a total supply of 100,000,000 $RAGE tokens, with a private round valuation of $40M FDV
• The Community Treasury receives 30% of the tokens, aimed at supporting long-term sustainability, with a 12-month cliff followed by 24-month linear vesting. The Team is allocated 15% with the same vesting terms, and Private Purchasers, who provided initial funding, get 13.5% of the tokens, which unlock after a 3-month cliff, then vest over 15-21 months
• The Public Sale allocates 20% of the tokens, fully unlocking at the TGE. Hyperliquidity is allocated up to 9% to provide liquidity, permanently committed from TGE
• An Airdrop rewards Rage V1 users with 4%, Rage V2 users with 1.25%, and Hyperliquid OG spot traders with 1.25%, all subject to a 3-month cliff and 3-month linear vesting
• There is a Rage Quit option for private purchasers and airdrop recipients after a 3-month cliff. They can choose Standard Vesting to receive 100% of tokens over the vesting period or opt for Deflationary Unlock (Rage Quit), receiving 40% of tokens immediately with the remaining 60% being burnt
FTW on Solana
• @jungle_xyz is developing its mobile first-person shooter game, For The Win (FTW) on Solana
• The game, which is in early alpha testing in South America and has over 100,000 downloads, will leverage Solana's speed and user experience to reward players based on in-game performance
• The game might also launch on the upcoming Solana smartphone, Chapter 2, set for release in 2025
• Jungle secured $6 million in seed funding from investors including Bitkraft Ventures and Framework Ventures
Introducing Drift Earn
• @DriftProtocol and @cindyleowtt introduces Drift Earn where users can earn yield on their SOL assets
• There are 4 ways to earn yield namely:
⇢ Depositing into Drift’s borrow/lend protocol to earn yield
⇢ Earn leveraged yield with staked SOL LSTs
⇢ Market making vaults managed by @CircuitTrading
⇢ Stake into the insurance fund
• Drift Earn improves the traditional borrow/lend protocol UX by revamping the user deposit journey and supercharging lending yields by enabling a diverse range of sources of yield
• Additionally, the Drift team also launched a Blink for Drift Earn and users can now deposit directly on X
READYgg Token Launch
• @TheReadyGames announced that their token launch is live on @CoinList
• Ready Games is an all-in-one web3 game development Layer 3 offering web3 game developers easy-to-use software development kits, dashboards, a token economy, and marketing strategies to boost game visibility and foster player communities
• The token will be launching at a $160m FDV with 2% of the total supply allocated to the token sale
• Users will be able to purchase from July 10 to July 17. However, it is not available to users from US and Canada
Misc News
• @KelpDAO $rsETH can now be redeemed for native $ETH
• @owlprotocol_xyz is live on @LineaBuild
• @Moca_Network announced that $MOCA is now live and users have 30 days to claim
• @PolyhedraZK teases ZKJ chain
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*