GM Digest #393 — Azuro LST | Drift's BET | ParaSwap Delta
GM Digest #393 — Azuro LST | Drift's BET | ParaSwap Delta
Good Morning with Valuable Alpha / News
Azuro LST
• @azuroprotocol’s stAZUR, the liquid ERC20 representation of staked AZUR, is now live. It allows users to earn $AZUR staking rewards while using stAZUR across DeFi platforms
• $AZUR holders can now stake their tokens to receive stAZUR via the Azuro dashboard, and then use it to farm Sophon Points, which will later convert to SOPH tokens
• A 14-day unbonding period applies for unstaking
• If you're already farming Sophon Points with $AZUR, your tokens will automatically convert to stAZUR unless you opt out before Aug 22
Introducing INFINIT
• @Infinit_Labs is a DeFi Abstraction Layer that simplifies the development and scaling of DeFi protocols, allowing anyone to launch or enhance applications quickly across multiple blockchain networks without complex coding
• INFINIT supports multiple chains, including Mantle, Monad, Taiko, zkSync, and Injective
• The protocol has already powered 12 DeFi dApps across 3 chains, handling over $630M in TVL
• Notably INFINIT’s $IN token, which is yet to be launched, will capture value across all DeFi ecosystems powered by INFINIT
Introducing BET
• @DriftProtocol introduces BET, the first capital efficient prediction market on Solana
• With BET, users simply bet on the future outcome of events via “YES” or “NO” shares. Users can buy those shares via market orders or limit orders at their desired price. The users’ positions will earn yield before the market resolves by the stated date
• Since BET is built on top of Drift Protocol, users can benefit from its borrow/lend platform, cross-collateral capabilities and derivatives. Users will be able to:
⇢ Earn yield on all their BET trades powered by Drift’s borrow/lend engine
⇢ Hedge on a Unified Platform creating “structured bets” allowing users to have hedged positions such as going “long” on a bet while shorting BTC
⇢ Use over 30+ tokens including yield bearing stables to LSTs
• BET is part of Drift’s rewards program and BET trades will have a 5x FUEL boost for 2 weeks. For every $1 trade placed, users will received 5 FUEL. In addition to trading activity, users can earn 10 FUEL for every $DRIFT staked
Introducing Paraswap Delta
• @paraswap introduces Paraswap Delta, the Paraswap intent based trading protocol
• Paraswap Delta is built on @Portikus_, the platform for decentralized intent protocols and offers an intent-based trading environment where users can trade with no gas costs and enhanced protection against MEV
• Portikus’ modular design will soon enable features like DCA, Automatic Limit Orders, Stop Loss, and even AI Agents
Renegade Mainnet Launch
• @renegade_fi announced that their mainnet launch is set for September 3 where they will make its debut on Arbitrum alongside the launch of Arbitrum Stylus
• Renegade leverages both MPC and zk proofs to maintain order information privacy as well as guarantee the best prices
• Whenever a trade settles in Renegade, the smart contract verifies the equivalent of nearly a dozen zero-knowledge proofs which makes it extremely gas intensive. However with Stylus, Renegade will be cheap and gas costs at mainnet are only expected to be less than $0.50 per trade
Introducing Yeetbonds
• @eatsleepyeet introduces Yeetbonds, working together with @bondprotocol to bring bonds to Berachain while working closely with their Bond Partners: @KodiakFi, @InfraredFinance and @ramen_finance
• A YeetBond is a sale of a token with a discount to the current market price. Users can buy a token at a discount with a small lockup of 2-7 days
• Proof-of-Liquidity aligns incentives and distributes power in the ecosystem to those that provide value and liquidity. Yeetbonds will help compliment and build Protocol Owned Liquidity
Misc News
• @Tether_to brings USDT to @Aptos
• @JonesDAO_io launches a smart LP vault for ETH/TIA pool
• @synonymfinance submits an EOL Candidate proposal on @MitosisOrg
• The proposal to integrate evmOS into @osmosiszone has passed
• @ionet announced that staking is now live