GM Digest #44

Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril

Velodrome x Optimism

• Velodrome has recently received 1.25 million OP to support the Optimism ecosystem, fulfilling three key objectives — Expanding the Optimistic Vision, Increasing Governance Participation, Enabling Ecosystem Growth

• Expanding the Optimistic Vision → Referrals Incentives (Bridge projects not on OP with Velodrome) & Proposal Incentives (Proposal that result in new projects’ deployment on OP)

• Governance Participation & Enabling Ecosystem Growth → OP Gov NFTs (To veVELO) & Tour de OP incentives program

Lendle Token is Live

• Lendle’s $LEND is live. The public liquidity round was only ~$170k filled out of $500k that Lendle was trying to raise

• $LEND price has fallen below its private sale price of $0.075 (6 months linear vesting) due to the overall market condition and the lack of marketing / hype around @0xMantle

• @Lendlexyz is #1 Money Market and the First Project that launched its token on Mantle

Thoughts: Timing on $LEND launch just wasn’t quite right — Market is red and no other Mantle projects have launched their own tokens yet. Usually, a DEX War would start off first with DEXes fighting for liquidity, launching their own tokens as an incentive to attract liquidity, speculation, and hype. We have not yet seen a DEX War yet but Lendle (Money Market) has already launched their own token. Money Market War usually comes after DEX War has started. This is bad for Lendle since it fails to attract liquidity and hype. Still good to keep this under your radar for later (when Mantle activity picks up)

OTC Scam

• OTC Scams are running rampant lately with gBOT, LINQ, HMX teams, and whales getting impacted by the scams

• The scams utilize social engineering to trick escrow parties into thinking they have received the payment tokens (ETH, Stables). Scammers proceed to market dump tokens, causing huge sell-offs on the chart

• Full Detailed Thread:

https://twitter.com/amirormu/status/1697964579253281236?s=46&t=P2v3CdAaRTuoxkDoNvkAVg

Thoughts: This shows the need for a reliable P2P, OTC platform that facilitates transactions without the need for intermediaries. PintSwap is positioning itself to be that platform, to be the Uniswap of Low Caps, Alt Coins, Meme Coins OTC, skipping over slippage / market impact / taxes. Grab yourself some Tris NFT if you haven’t already → TGE soon.

Stader ETHx Auto-Compounding

• @staderlabs ETHx leverages the power of compound interest through frequent reinvesting (no gas fees needed). Stader also accumulates MEV rewards on top to maximize the compound effect

• Since ETHx launch (a month ago), ETHx has accumulated over 17k ETH ($28m), offering ~4% in Staking Rewards

Thoughts: Current staking rewards are slightly higher than the market leaders in the LST space —Lido and Rocketpool offer 3.7% and 3.4% respectively. ETHx Multi-pool Architecture & DVT design allow single stakers to accrue more rewards (lowering the risks of getting slashed)

UNIBOT Dump

• $UNIBOT tumbled all the way to $80 earlier today before recovering slightly

• There has been news pushed by KOLs of $40 floor price target floating around CT. The dump of $UNIBOT could also be from the competition (@MaestroBots & @BananaGunBot) and Banana is positioned to launch its token “soon”

Thoughts: Not an expert in sniping bots (yet) but I have seen lots of traders around my circle favoring Maestro & Banana instead of Unibot. Maestro for general trading & sniping on existing tokens, Banana to snipe pre-launch CA, ensuring you get a position the moment the tokens launch. Even though Unibot user analytics remained decent in August, the decline in price could be the result of the anticipation of users shifting from Unibot to Banana for their product + Banana Airdrop speculation + general sentiment of KOLs talking about price going to $40

Gearbox Protocol New Leveraged Farms

• @GearboxProtocol will be adding 4 new Curve v2 strategies- Tricrypto, LDO/ETH, CVX/ETH and TriCRV and users can now leverage farm on these pools

• At max leverage, users can earn up to 32% on Tricrypto, 57% on LDO/ETH and 60% on CVX/ETH

Thoughts: Despite the “Composable Leverage” value proposition that Gearbox provides, Gearbox Credit Accounts are slightly more difficult to use relative to typical Leverage Farms. Leverage is currently only enabled for “Ninja” or whitelisted address whose position >$100k. Gearbox TVL continues to decline in spite of the Improvement in UI/UX of Leverage Strategies. Would suggest ExtraFi, Stella, Vaultka instead if you’re looking for leverage farming yields

Vitalik Dumps 500 MKR

• @lookonchain spotted one of Vitalik’s wallets selling 500 $MKR for 353 $ETH yesterday.

• This was after Rune’s announcement of @MakerDAO ‘s Endgame plan to transition to its own chain using the Solana codebase

Top Picks (Medium Caps)

$DMT (SankoCorp)

For those who’ve been following my Twitter, I’ve been a fervent supporter of SankoCorp since their initial launch on Arbitrum (with only 2 games — Milady Tekken & Pinball). The way they’ve created a cult-like community + the way the team continues to build new exciting games (that people actually play) + the way the team fixes things & communicates quickly (they’re so quick on their feet). All of these gave me the confidence to start DCA’ing at $15 - $18 when they launched their v2 token contract. Even though it bled to $5 after that, I continued to hold.

Even though there are a few catalysts coming in September, $DMT price continues to fall — 65% decline from its ATH 2 weeks ago. The upcoming catalysts are

• Sanko TV (Lifestream) for ALL Sanko Games -> Creators economy, sending gifts to lifestreamers using $DMT (similar to Tiktok)

• Potential direct Sanko TV integration with Friend tech, exclusive streaming to keyholders

• Privy integration / mobile optimization -> You can log in Sanko mobile app with Apple ID, it creates your wallet in the background, which you can top up with a credit card and start playing games right away

• TG Gambling Side-Game “Miya”, RuneScape-style game “SankoScape”

I’ve personally taken some profits off at $40-45 level and have started accumulating again at $20 level. If we end up breaking below the current level, next support is $15 level

$MGP (Magpie)

Magpie team changes the way governance aggregators operate by creating SubDAO of new projects under Magpie. When Magpie team spots new fundamentally sound project, they create an entirely new project that independently accrues governance token of that specific project — Penpie for Pendle, Radpie for Radiant, Campie for Camelot.

Magpie team has no team tokens on these SubDAO. Instead, Magpie gets 20% of every new SubDAO token supply — this doesn’t go to the Magpie Team, it goes to the Magpie Treasury where Magpie holders have governance control.

Magpie itself is also a governance aggregator of Wombat Exchange, a Highly Efficient Multi/Cross-Chain StableSwap that could be one of the Top StableSwap soon (Cross-Chain Upgrade coming Sep 6)

Price action of $MGP has been one of the best during the past 1-2 months, gradually increasing from $0.01 to $0.018. Once Radpie and Campie launch, we could see an even more increase in $MGP price considering the IDO WLs allocation to vlMGP stakers along with the increase in Magpie Treasury (from Radpie & Campie tokens). $0.014 - $0.0165 is a good range to start accumulating if you’re not in yet. I’m holding only liquid $MGP and have not vote-locked stake it at all — staying nimble, gonna start taking partial profits (25% of my stack) at $0.02

*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*