GM Digest #402 — MARKET GOING AN*L
Good Morning with Valuable Alpha / News
Story Testnet
• @StoryProtocol has launched its first public testnet, Iliad, inviting builders and creators to explore the World's IP Blockchain
• This testnet features the first-ever IP Asset mints
• Story emphasizes genuine community involvement and takes a strong stance against automated activity and sybils
• The platform will soon showcase next-gen creator, AI, and IPFi apps aimed at solving real-world problems
Introducing Legion
• @legiondotcc is launching a platform for early-stage investments in crypto, aiming to revive the community-driven spirit of early ICOs like Ethereum
• Legion looks to connect passionate and skilled contributors with investment opportunities, not based on wealth but on merit, skill, and community involvement
• By doing so, Legion hopes to create engaged communities around projects, giving founders a value-add community of users and evangelists, rather than just passive investors
• More details on how Legion will operate will be revealed soon
Sorella Labs Raise
• @SorellaLabs, a startup aiming to solve Ethereum's MEV issue, raised $7.5M in a seed funding round led by @paradigm, with participation from Uniswap Ventures and others
• Sorella is developing tools like Brontes and Angstrom to address MEV problems
• Brontes, an open-source blockchain analytics tool, is now live and identifies MEV through pattern matching
• Angstrom, set to launch with Uniswap V4, will use auctions to prevent arbitrage
Siren Token Migration
• @sirenprotocol is undergoing a transformation with the introduction of a new $SIREN token, replacing the original $SI token
• The migration to the new token aims to address the economic limitations of the $SI token by introducing a low perpetual inflation model
• $SI holders can exchange their tokens at a 7:1 ratio for the new $SIREN tokens
Opensea Receives Wells Notice
• @dfinzer, CEO of @opensea disclosed that Opensea has received a Wells notice from the SEC threatening to sue the platform as they view NFTs as securities
• Opensea assured users that they are ready to stand up and fight against this and holds firm to the belief that NFTs are fundamentally creative goods: art, collectibles, video game items, domain names, event tickets, and more
• Additionally, Opensea pledged $5m to help cover legal fees for NFT creators and devs that receive a Wells notice
Kaia Mainnet Launch
• @KaiaChain is an EVM chain with backings of major partners such as Kakao and Line. The team announced the launch of their mainnet
• With mainnet, the team also unveiled Kaia Wave, an initiative developed in partnership with LINE NEXT. LINE NEXT is a Web3 builder support program aiming to enhance project support and user experiences by leveraging the new NEXT WEB SDK developed in collaboration with LINE NEXT, which will allow builders to develop Mini Dapps that launch within LINE Messenger
• Through Kaia Wave, the Kaia foundation intends to bridge Asian and global Web3 partners