GM Digest #404 — Market Further Retraces
Good Morning with Valuable Alpha / News
Market Further Retraces
• Bitcoin & ETH keep falling under $60k and $2.5k level ahead of September seasonality (BTC price tend to decline in September for the past years)
• Per Cointegraph — According to a Zacks Research note, this reduced risk appetite was driven by uncertainty surrounding Nvidia's corporate earnings, released after the stock market closed on Aug. 29, and the upcoming July US Personal Consumption Expenditures (PCE) index on Aug. 30. At the time, investors were concerned that a high inflation reading could delay anticipated interest rate cuts by the central bank
Doubler Mainnet
• @doubler_pro is launching on the mainnet on Sept 1 on the Arbitrum One network after a year of testing
• The launch includes a liquidity airdrop incentive and two key reward events: one for the first 500 pool creators meeting specific criteria, and another for participants in the "Last Layer" of qualifying pools
• Doubler Pro is a DeFi tool based on the Martingale strategy, allowing users to pool funds and share profits
Introducing Nebula
• Nebula is a new proof-of-stake appchain built by the team from @vegaprotocol, aiming to scale on-chain trading
• It will initially launch with four markets, including BTC, ETH, and SOL perpetual swaps
• The $NEB token will secure the chain, with 20% allocated for $VEGA holders in a token swap. The swap period ends on Sept 26
• Nebula is set to launch publicly in late September 2024 with an initial seed funding of $500K
AYIN 2.0
• @ayincoin Collective has launched its new Beta Platform 2.0, introducing AYIN Swap Beta and AYIN Analytics Beta
• Key updates include AYIN Connect for wallet connections, a revamped AYIN Swap, enhanced search capabilities, and real-time trade logs and charts
• The platform also introduces AYIN AmpliFi for news and growth, with upcoming tools like a Portfolio Manager, Integrated Bridge, and Staking coming soon
• AYIN is the top DEX on Alephium
Folks Finance LST
• @FolksFinance has launched xALGO as the primary Liquid Staking Token on Algorand, allowing users to stake ALGO and earn yield while keeping their assets liquid
• With the switch to Consensus Rewards, xALGO now represents staked ALGO and its associated rewards
• Users who stake ALGO and receive xALGO before the end of Q3 2024 will earn an xALGO Trailblazer NFT
Introducing Bridge
• @StableCoin introduces Bridge, a new payments platform built with stablecoins
• Bridge will be providing secure and efficient systems for re-building financial services with stablecoin, eliminating the friction and fees of blockchains, wallets and traditional exchanges
• The team will be building stablecoin Orchestration and Issuance as a service. Orchestration provides simple APIs to easily convert between any 2 dollar formats while Issuance gives developers the ability to convert any of these dollars into a stablecoin they can customize and benefit from. These APIs allow any team to offer digital dollar-based services to their end consumers or businesses