GM Digest #449 — AI Renaissance
Good Morning with Valuable Alpha / News
Massive Hype from $GOAT & $LUNA
• Agentic AI Future appears to be here as autonomous AI agents like @truth_terminal can freely persuade people through memes, launch memecoins, and create their own cults through something like $GOAT
• Terminal of Truth, created by @AndyAyrey started gaining popularity after it has created $GOAT, Goatse Maximus cult thingy (Marc Andreessen from a16z donated it $50k in BTC and it created the memecoin out of that)
• Yesterday, @virtuals_io launched $LUNA, the first tokenized AI agent token. Luna is an AI IDOL that live streams on Tiktok with 550k followers. More details here: https://x.com/Defi0xJeff/status/1846600507961524378
Radiant Capital Exploit
• @RDNTCapital is exploited for $58m on Arbitrum & BSC. Do revoke access at revoke.cash immediately if you’ve used Radiant in the past
• According to @quillaudits_ai — The attacker gained control of 3 out of 11 signers; just enough to carry out the hack
• The attacker used the multisig to transfer ownership to their contract, upgrading the implementation, and then proceeded to drain funds
Celestia Shwap
• @CelestiaOrg has upgraded its data availability (DA) network with Shwap, making DA sampling 12 times faster and reducing storage needs by 16.5 times
• This allows for bigger blocks while keeping light nodes small and efficient, allowing for scalable blockchain applications
• Shwap replaces the old hash-based protocol with a new data square storage system and a composable networking framework, improving data retrieval speed and reducing sync time for full nodes and light nodes
• It is expected to reach Celestia Mainnet Beta in November
Fuel Mainnet Live
• @fuel_network has launched Fuel Ignition, an Ethereum layer 2 solution built on the Fuel Virtual Machine (FuelVM)
• Ignition addresses blockchain centralization by offering a scalable, decentralized architecture that can run on consumer-grade hardware
• It supports fast, low-cost transactions and parallel execution with over 21,000 transactions per second (TPS) per core
• Ignition is compatible with major Ethereum and Solana wallets and ensures security through Ethereum's DA
Cadence -> Symphony
• @CadenceProtocol is rebranding into Symphony Network, and is launching a platform that aims to unify DeFi infrastructure, enabling cross-chain operations
• Building on the success of Cadence, Symphony introduces six components, including a user state management protocol, AI-driven intent engine, cross-chain execution network, and an omni-chain wallet
• Symphony's native token, $SMY, will launch with a 1:4 conversion for $CAD holders. The token is set for release by Q1 2025 after a governance vote and liquidity preparations
Quai Golden Age Testnet
• @QuaiNetwork's Golden Age Testnet has launched, introducing the Proof-of-Entropy-Minima (PoEM) consensus, an evolution of Proof of Work, with a dual-token system: $QUAI for scalable transactions and $QI for everyday use
• Participants in the gamified Testnet structure can earn rewards from a pool of 10 million Mainnet Quai tokens based on their Testnet holdings
• The Testnet phases include node setup, public mining, and transaction activity, allowing users to mine, develop, trade, and engage in challenges to earn tokens
SingularityDAO, Cogito and SelfKey Merge
• @SingularityDAO announced that SingularityDAO, Cogito FInance and SelfKey have a proposal of a merger to launch Singularity Finance, an EVM Layer-2 for tokenising the AI economy’s Real World Assets (RWA)
• Singularity Finance would bring RWAs onchain using Cogito’s tokenization framework to create decentralised markets where users can easily participate with the support of SelfKey’s compliant identity solution
• 3 existing tokens namely $SDAO, $CGV and $KEY will be merged into $SFI serving as the unified token for Singularity Finance. The conversion rate will be as follows:
⇢ SDAO migration to SFI at a ratio of 1:80.353 (1 SDAO = 80.353 SFI)
⇢ CGV migration to SFI at a ratio of 1:10.890 (1 CGV = 10.890 SFI)
⇢ KEY migration to SFI at a ratio of 1:1 (1 KEY = 1 SFI)
The pricing will be based on the 200 days moving average up to August 20
Misc News
• @GEODNET_ token, $GEOD is now natively multichain, powered by @wormhole
• @HiddenHandFi now supports @ThrusterFi and @hyperlockfi on @blast
• @IBXtrade L.overflow for their $ARTIC token is live