GM Digest #384 — wBTC to Justin Sun
Good Morning with Valuable Alpha / News
BitGo Transitioned wBTC Business to Justin Sun
• BitGo has begun a 60-day transition period to diversify its custodial locations to include Hong Kong and Singapore through partnership with BiT Global
• This will be a “strategic partnership between BitGo, Justin Sun, and the Tron ecosystem”
• BitGo founder ensured that Justin Sun won’t have the ability to move funds
• Maker has already planned to offboard wBTC due to the change (primarily because of Justin Sun involvement) See more here
Daylight Raise
• @daylightenergy_ has launched a DePIN distributed energy platform and secured $9 million in Series A funding led by a16z Crypto
• The Daylight Protocol incentivizes the growth of distributed energy resources (DERs) by allowing users to earn rewards for connecting their energy devices
• The platform includes the Daylight Marketplace, which offers standardized energy upgrades, and the Daylight App, a hub for managing energy devices and rewards
• The goal is to decentralize energy production, reduce grid strain, and build a community-owned, on-chain energy economy without relying on government mandates
Introducing Moongate
• @Moongate is a protocol that helps Web2 and Web3 brands engage customers by issuing smart tokens
• These tokens serve as keys to brand ecosystems, offering access to exclusive content, benefits, and community features
• The protocol includes three key modules: Moongate Campaign (for launching tokens and NFTs), MoonPass (a decentralized identity with a reputation score), and Moongate Rewards (a benefits and token launchpad)
• Powered by the $MGT token, Moongate aims to turn passive advertising into active engagement by integrating real-world value and offering personalized, targeted marketing through decentralized identities
GoldLink Funding-Rate Farming
• @goldlinkfinance is a DeFi platform on Arbitrum aimed at improving decentralized lending by enabling undercollateralized loans through a prime brokerage model
• Lenders can choose specific strategies and assess risks using a detailed dashboard, while borrowers can access flexible, secure capital deployment options
• The protocol is launching in phases starting in Q2 2024, with Delta-Neutral Funding-Rate Farming on GMX as the first strategy
Misc News
• Crypto.com, Gemini join Coinbase & Robin Hood in opposing CFTC proposal that could ban prediction markets
• Since the halving in April, Bitcoin Miners have been struggling to adjust since their revenue got drastically slashed