GM Digest #436 — EIGEN IS THE NEW TIA
Good Morning with Valuable Alpha / News
Eigen x LayerZero
• @Eigen_Labs and @LayerZero_Core Labs have partnered to create a CryptoEconomic Decentralized Verifier Network (DVN) Framework, enabling anyone to launch a DVN with staking assets like EIGEN, ZRO, ETH, and more
• This framework enhances the security of omnichain messaging by allowing verifiers to restake assets to secure various services, incentivizing honest behavior with the risk of slashing
• LayerZero’s protocol is transitioning its DVN to this new mode. This marks the beginning of a broader partnership focused on omnichain infrastructure
Kinto’s Musubi
• Musubi is a chain abstraction layer within @KintoXYZ, an L2 rollup thats focused on user-owned KYC, AML, and native account abstraction
• Musubi allows users to swap assets from any chain (like Arbitrum or Mainnet) without knowing or needing to understand the mechanics
• Through Musubi, Kinto enables chain-abstracted swaps across all blockchain wallets. Users initiate swaps by signing two transactions: first, withdrawing assets to a contract on the target chain, then performing the swap and bridging assets back to their Kinto wallet
Hyperlane x Starknet
• @hyperlane is expanding to @Starknet and its CairoVM, enabling token bridging and interchain applications across 60+ Hyperlane-connected chains
• Pragma and Nethermind led the implementation, which has passed audits and is live on testnet
• Hyperlane’s open-source framework allows for external devs to expand to new chains, making it adaptable to many virtual machines (VMs). Mainnet launch details for Starknet are coming soon, with plans for further expansion to other CairoVM chains
BOB Stake
• @build_on_bob introduces BOB Stake, a platform offering 1-click Bitcoin liquid staking, simplifying the process for users to stake BTC and receive Liquid Staking Tokens (LSTs)
• BOB Stake integrates with liquid staking providers and DeFi platforms, leveraging BOB Gateway to streamline staking into a single Bitcoin transaction
• The launch coincides with the final season of BOB Fusion, an airdrop points campaign for early users
Ocelex Airdrop
• @OcelexFi is a DEX on @ZircuitL2 and have announced an airdrop for the community
• The team will be allocating 50% of the initial token supply to airdrops and the breakdown will be as follows:
⇢ 45% will go to Lynex’s veLYNX holders. Criteria for this will be users who have a minimum 1 year lock on veLYNX and the airdrop will be based on the voting power
⇢ 5% to community members from @ThenaFi_, @FenixFinance, @VelodromeFi & @AerodromeFi
• The team will also be reserving additional allocations for new launch protocols and ecosystem grants. There is also a 2.5% allocation to Zircuit’s Launchpool to onboard Zircuit’s user base
• Airdrops will have a 30 day claim window and will be max locked veOCX tokens. veOCX holders will benefit from weekly rewards from trading fees, voting power to influence emissions allocations and also participation in the protocol
Bungee Protocol
• @BungeeExchange introduced Bungee Protocol, a global liquidity marketplace built on @SocketProtocol bringing deep liquidity to any asset
• Users indicate the actions they want to take on-chain by signing on user requests allowing users to use DeFi protocols or mint NFTs. Bungee Protocol treats chains as liquidity avenues with off-chain agents splitting the trade between all the chains to optimize the swap. This could extend to CEXes off-chain as well
• These user requests are fulfilled by off-chain actors who compete with each other. The off-chain actors are:
⇢ Solvers: In charge of mapping the routes across various liquidity pools across networks
⇢ Provers: In charge of creating onchain verifiable proofs
⇢ Fillers: Entities that operate with inventory and have active capital across networks
Misc News
• @LogX_trade v2 now live on @build_on_bob
• @hyperlockfi to launch it’s token $HYPER via an LBP on Fjord on Oct 7
• Binance Labs has invested in Sophon, an ecosystem for entertainment applications in gaming, social, AI, prediction markets and beyond.