GM Digest #434 — ̶U̶p̶t̶o̶b̶e̶r̶ Downtober
Good Morning with Valuable Alpha / News
Introducing Ducat
• @Ducatstable introduces the first Bitcoin L1-native stablecoin, UNIT, on Runes
• Using Ordinals Inscriptions, Runes tokens, and Bitcoin’s Taproot upgrade, BTC addresses can act as self-custodied stablecoin vaults
• UNIT will be 150% BTC-collateralized and issued as a Runes token, compatible with major BTC wallets
• The protocol aims to unlock Bitcoin’s liquidity, especially as Bitcoin DeFi grows rapidly
Nostra Buyback Proposal
• The proposal suggests implementing a buyback and burn program for $NSTR using 100% of @nostrafinance's Q3 revenue of $466,426.49 to buy $NSTR tokens and permanently burn them
• A burn tracker will ensure transparency, and buybacks will be made gradually over Q4 to avoid market impact
• The plan also emphasizes the potential for scaling the program as Nostra expands. Community feedback will refine the proposal before it's submitted for a governance vote
Swing Points
• @swing_xyz is launching "Swing Points" as part of its decentralization efforts
• Users can earn Swing Points by using the Swing protocol on Galaxy Exchange through activities like swaps, bridge transfers, quests, and referrals
• Points accumulate based on transaction volume and engagement. The goal is to shift governance power to the community. There are bonuses for daily and weekly activity as well
Resolv x Hyperliquid
• @ResolvLabs has integrated with @HyperliquidX, making $USR the first delta-neutral stablecoin available on both centralized and decentralized exchanges
• This partnership boosts Resolv’s ability to optimize returns while maintaining a delta-neutral strategy to manage risks
Eigen Restaking Tokens
• @RenzoProtocol and @ether_fi introduced $EIGEN restaking tokens on their respective protocols
• Renzo introduced ezEIGEN which will help optimize the restaking process. ezEIGEN will allow users to:
⇢ Claim any rewards automatically
⇢ Auto-compound the rewards
⇢ Minimise gas fees
• On the other hand, Etherfi’s eEIGEN allow users to earn restaking yield and additional restaking rewards, paid out in LRT^2. They will also be able to earn Etherfi and @veda_labs points
ME Update
• @MeFndn announced updates for its $ME token launch
• $ME will be launched via its mobile token claim inside the Magic Eden Wallet. Users will be able to link all of their existing browser, mobile, and hardware wallets across chains without using their seed phrases
• The team is also preparing a test token to be launched in October so that everyone will be comfortable with the claim process
Misc News
• @ether_fi introduces $eEIGEN. Holders earn restaking yield and ether.fi and @veda_labs points