GM Digest #449 — Defi Renaissance?
Good Morning with Valuable Alpha / News
Fjord Foundry Upcoming Raises
• @asymmetryfin $ASF, governance token of afUSD, synthetic dollar that aims to generate 15-40% APY utilizing @AmpleforthOrg
• @Contango_xyz $TANGO, top Leverage Looping / futures expirables Defi protocol with strong PMF
LIT -> BUNNI Proposal
• @bunni_xyz v2 proposes several changes to its tokenomics ahead of its late October or early November launch
• The token will migrate from $LIT to $BUNNI at a 1:1 ratio, with a new governance locking mechanism ($veBUNNI)
• There will be airdrops for core community participants, with all rewards locked for a year
• The complex gauge system will be replaced by an epoch-based emission model focused on protocol growth and revenue generation
• Liquidity incentives will be introduced, and the $oBUNNI model will be considered for future activation based on the success of an ETH/BUNNI market
Babylon Cap 2
• @babylonlabs_io's Phase-1, Cap-2 staking saw over 22,891 BTC staked across 12,641 addresses in just 1 hour and 27 minutes
• Staking sizes ranged from 0.005 to 500 BTC, with low transaction fees of just 1.56 BTC paid to miners, significantly lower than Cap-1
• Overflow was minimized to 128.97 BTC, reducing the overflow ratio to 0.56%. Over 0.1% of the total Bitcoin supply was staked, making Cap-2 more efficient than its predecessor
Syrup x Pendle
• @syrupfi has integrated with @pendle_fi, allowing Pendle users to access SyrupUSDC for fixed yields
• Users can hold PT-SyrupUSDC for fixed returns or trade YT-SyrupUSDC to speculate on its yield
• Syrup’s yield comes from overcollateralized loans, combined with Drip rewards (points)
Introducing Towns
• @townsxyz is a decentralized, permissionless group chat app that allows anyone to build digital town squares with end-to-end encryption
• This allows for an onchain messaging experience entirely owned and operated by its members
• Towns also allow for gating opportunities where users can keep their communities gated via NFTs, ERC20 Tokens, ETH and wallet addresses
DEEP and Deepbook V3 Live
• @DeepBookonSui announced that $DEEP, its native token is live on Sui along with Deepbook V3
• Deepbook V3 reduces transaction costs and introduces dynamic fees, flash loans, and shared liquidity across pools. The $DEEP token is core to the flywheel needed to sustain and grow DeepBook with greater trading efficiency, liquidity, and governance. $DEEP will be used to pay trading and pool creation fees, with stakers earning governance rights and market makers receiving rebates for providing liquidity and facilitating trades
• Users can also participate in staking with $DEEP giving them reduced taker fees as well as maker incentives. It also allow stakers to participate in governance
Omniston Live
• @ston_fi is a unified decentralised liquidity protocol which aggregates liquidity from multiple DEXs and resolvers to offer users the best prices. The team announced that the Omniston protocol has launched
• Omniston uses Request for Quote (RFQ) which is an off-chain protocol that creates, collects, and analyzes requests from resolvers and DEXs with price offers for specific trading deals
• With Omniston, users can now get access to efficient swaps while accessing liquidity from other liquidity sources on the blockchain