GM Digest #372 — BTC Retracement (Again)
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
BTC Down Bad
• The United States government has transferred $2 billion worth of Bitcoin two days after former President Donald Trump promised that the US would never sell any of its Bitcoin during a speech at the Bitcoin 2024 conference in Nashville
• According to data from blockchain analysis platform Arkham Intelligence, the government wallet — which stored the Bitcoin seized from the shuttered dark web marketplace Silk Road in 2022 — transferred 29,800 Bitcoin to an unknown wallet address on July 29
• BTC price is now down from $69,000 to $66,000, 3.5% down during the past 24 hours
!https://cointelegraph.com/assets/img/tickers/tickers_down.svg
• Source: Cointelegraph
Fluidity Season 3
• @fluiditylabs Airdrop Season 3 has ended, distributing 12.3M $FLY tokens across 10,000+ eligible wallets based on activity with Lootbottles, fUSDC, liquidity provision, NFTs, or $FLY staking
• The snapshot was at Arbitrum Block 229416782. Only the top 1% of wallets have a 3-month vesting period
• Users can stake, claim, or convert tokens to SPN points for Superposition Layer-3 exposure
• Fluidity 2.0 will introduce the Fluidity DAO, Utility Gauges, and upgrade $fUSDC, decentralizing $FLY incentives and allowing protocols to steer order flow via Utility Gauges
Superposition Testnet
• The @Superpositionso Testnet has processed 10 million transactions from over 800,000 wallets, with over 1600 contracts created and 30,000 .meow domains owned
• The team has maintained 99.7% uptime and launched the world's first AMM with Arbitrum Stylus on an Orbit Chain
• The first Intract Campaign is ending, with new campaigns and partnerships to follow. More Dapps and activities will be released soon
• Staking $FLY tokens accrues Superposition points, but unstaking will result in losing points
RateX Raise
• @RateX_Dex, a leveraged synthetic yield exchange on Solana, completed its seed funding round with support from investors including GSR and Animoca Ventures
• This follows their win at the Solana 2024 Renaissance MCM
• RateX allows users to trade synthetic Yield Tokens with leverage and offers features like Earn and Synthetic Assets
Introducing ipxETH
• @dinero_xyz introduced institutional pxETH (ipxETH) in collaboration with @galaxyhq and @LaserDigital_
• ipxETH is a liquid staking solution under a permissioned ecosystem built using pxETH and Dinero infrastructure
• ipxETH allow accredited users to have compliant Ethereum staking yields without having to go through the risks and complexities that comes with DeFi and ETH staking
Misc News
• @RenzoProtocol announced that their Season 2 snapshot was successfully taken on 26th of July
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*