GM Digest #442 — Alpha Picks
Good Morning with Valuable Alpha / News
Babylon Cap-2 Concluded
• @babylonlabs_io concluded its cap 2 raise with 23,000 bitcoins staked
• @SolvProtocol remains one of the top LST provider, staking over 7,089 BTC staked, with SolvBTC.BBN now 100% staked to Babylon.
Scroll TGE
• @Scroll_ZKP is launching the $SCR token, with the token available via Binance Launchpool and an airdrop starting Oct 22
• $SCR will play a role in decentralizing Scroll's governance. $SCR's primary use includes governance, proving, and sequencing rights
• The total supply of $SCR is 1 billion, with 15% allocated to airdrops, 35% for ecosystem growth, and other portions reserved for the team, investors, and the Scroll Foundation
• 7% of total supply is allocated to the first airdrop. The other 8% will come as additional airdrops over the next year and a half
Layer Seed Round
• @LayerOnEth has raised $6M in seed funding to enhance internet security using blockchain tech
• Layer's core product is the Layer SDK, which allows developers to create decentralized applications that are fast, safe, and resistant to manipulation
• The SDK, leveraging Web Assembly, aims to bring Ethereum-level trust to software applications, even on mobile devices
Introducing Aera
• @aerafinance is a treasury management protocol that helps DAOs manage liquidity through Protocol-Owned Liquidity (POL) and Liquidity Mining strategies
• Aera's system involves vaults where protocols deposit assets, and third-party Guardians, like Gauntlet, optimize allocations based on market conditions
• POL involves deploying a protocol's tokens into liquidity pools, earning fees, and adjusting liquidity based on user needs. Liquidity Mining allows liquidity providers to earn incentives, with spending optimized by Guardians. Both strategies can be combined for joint optimization to drive liquidity growth while managing risks
Inception EIGEN LRT
• @InceptionLRT is the first protocol to offer liquid restaking for EigenLayer’s EIGEN token. Users can now restake EIGEN through InceptionLRT to earn rewards while maintaining liquidity via the inEIGEN token
• EIGEN is important for securing decentralized services like oracles and data layers, addressing intersubjective faults not covered by Ethereum alone
Introducing the Staking Abstraction Layer
• @SolvProtocol introduces the Staking Abstraction Layer (SAL), a framework designed to simplify and standardize Bitcoin staking across chains
• SAL abstracts the complexities of Bitcoin staking making it easy for Bitcoin holders to access yield while maintaining liquidity and security. It solves the issue of cross-chain complexity, liquidity issues and limited programmability with BTC itself
• Solv’s key partners powering SAL are @BNBChain, @CeffuGlobal and @Chainlink. With SAL, Solv will be able to allow BTC holders to secure PoS chains while participating in DeFi
Introducing deBridge Hooks
• @deBridgeFinance introduced deBridge Hooks, enabling real-time trustless data transfers between chains
• deBridge Hooks allow for use cases such as:
⇢ Chain abstraction: Allowing instant onboarding onto apps from any chain, taking away the bridging process
⇢ Asset distribution: Examples are buying an asset on one chain and distributing it in another
⇢ Account abstraction: With hooks, there will no longer be a need for private keys and wallets and users can simply sign an action with their wallet and deBridge solvers execute instantly on their behalf
⇢ Action triggers: Apps can now embed cross-chain orders with logic, triggering conditional on-chain actions
• Additionally, the launch of $DBR (their native token) on @JupiterExchange’s LFG Launchpad will leverage deBridge hooks to allow users to perform instant cross-chain deposits from any assets on any chain into the LFG vault on Solana
Some Picks to Keep an Eye On
• @pear_protocol, paying out 90% APR to $PEAR all from its fees (80% rev paid to PEAR stakers). Possibly the only Defi token to launch in the past few months and find some PMF & pay out real rev to stakers
• @Eigenpiexyz_io $EGP continues to get mispriced with public round participants dumping tokens at loss. Currently traded at $34m FDV (from $56m FDV Public Round). TVL remains $1bn+ (there’s also rumour of Sympie getting combined w/ Eigenpie so this will def gets traded a lot higher imo)
• @zaponchain pumpdotfun on Base is getting listed today on Bybit and will be traded on Aerodrome & Uniswap. Zap getting supported by big cabals (keep your eyes on the launch)
Misc News
• @LayerZero_Core live on @peaqnetwork