GM Digest #378 — Another Doomsday
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Another Doomsday
• Every market is pricing in recession — Bitcoin fell to $60k level, stocks falling across the board, bonds are rising in anticipation of the rate cuts
• Bullish bitcoin thesis remains as several technical analyses point towards a relief rally / reverse in price action — Bollinger’s Band support, reverse head-and-shoulder forming on the weekly chart, 50-week / 200-week Simple Moving Averages, etc
Tapioca v1.1 + Airdrop
• Despite @tapioca_dao’s initial success, a flaw in the twAML (Time Weighted Average Magnitude Lock) incentive model caused issues, prompting Pearl Labs and EnigmaDarkLabs to improve it, now renamed twL
• To address these issues, the first step is to validate twL with relevant contracts and run final simulations. Parameters for using $ZRO as collateral will be set, the twL math theory will be validated and the UI will be updated to accommodate new contracts and logic
• A testnet will be launched, accompanied by an airdrop of aoTAP. After these steps, the finalized system will be deployed to the mainnet
• The airdrop eligibility is based on interaction with the testnet and providing feedback. Distribution is determined by average $TAP holdings over several snapshots
Ritual Altar
• Ritual Altar is a campaign launched by @ritualnet to support teams building applications on their blockchain, offering end-to-end support from ideation to mainnet launch
• Ritual Altar focuses on product development, design, engineering, operations, go-to-market strategies
• Devs will be able to operate in Ritual Chain’s EVM-compatible environment and will have access to AI/ML models to create intelligent on-chain applications
Introducing BeraMarket
• @BeraMarketNFT is launching an NFT marketplace and creator platform on Berachain, with features like full trading, indexing, and liquid-backed NFTs
• It offers familiar marketplace functions (buy, list, sell, bid) and bridges NFTs from EVMs to Berachain
• Creators can easily launch NFT collections, whether backed or unbacked, and leverage lending features to free up liquidity
• The platform supports hybrid collections and collaborates with key partners in the Berachain ecosystem
Aevo Buybacks
• @aevoxyz announced that they have started buybacks for the $AEVO token and have purchased 1m $AEVO tokens for an average price of $0.446 in the month of July
• Currently, the buyback process involves withdrawing funds from the Aevo Insurance Fund, buying $AEVO from Binance and withdrawing the $AEVO to their on-chain DAO address
• The team also commits to purchase 1m worth of $AEVO every month until December
Astroport Post Mortem
• @astroport_fi published a post mortem regarding the exploit of the Terra chain
• On July 30, the Terra chain was exploited and the exploiter managed to mint $ASTRO tokens and subsequently dumped them. The Terra chain was halted and the vulnerability was patched. The attacker’s address was also blacklisted and was unable to perform any transactions
• Currently, the attacker no longer controls any $ASTRO tokens minted by them. However, there is still a mismatch between the amount of ASTRO sent out from Neutron and the amount of ASTRO existing according to the Terra blockchain
• The team is still working to recover the funds
Misc News
• @SturdyFinance launches a @dinero_xyz's $apxETH lending pool
• @0xSonicLabs announced their rebrand from Fantom
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*