GM Digest #450 — Uptober Upvember Upcember
Good Morning with Valuable Alpha / News
Superlane
• @VelodromeFi and @hyperlane are launching Superlane in November to enable immediate interoperability between Superchain rollups
• Superlane introduces shared liquidity, interchain governance, and interchain applications, designed to bridge the gap until Optimism's full Superchain implementation
• Velodrome will be the first to implement Superlane, expanding its role as the liquidity hub for the Superchain
INFINIT Stones
• @Infinit_Labs has launched its Rewards System, allowing DeFi users to earn "INFINIT Stones" by participating in various DeFi activities such as lending, borrowing, and providing liquidity across partnered protocols like Pendle, INIT Capital, Silo Finance, and Ethena
• These stones represent users' contributions to the ecosystem. The rewards system runs in 28-day epochs, starting Oct 16
Introducing Morphex
• @MorphexBMX is a decentralized exchange offering spot and perpetual futures trading on Base
• It uses a singular liquidity pool made of blue-chip assets, and liquidity providers receive LP tokens for their contributions
• Morphex ensures low fees, no price impact, and protection from "scam wick" liquidations. The platform uses Chainlink and Pyth for real-time price feeds
• Morphex launched "BMX" on Base in 2023, introducing with it wBLT, an auto-compounding liquidity token. This token can be paired with BMX or other assets and can also serve as collateral
Binance x Lombard
• @BinanceLabs has invested in @Lombard_Finance, the developer of LBTC, a liquid staked Bitcoin token allowing users to earn yield while using Bitcoin in DeFi
• Currently in Phase 2 of its roadmap, Lombard is working to integrate LBTC with Ethereum DeFi and expand to Layer-1 and Layer-2 networks
• The investment will help Lombard broaden LBTC access across more chains
Radiant Exploit Post-Mortem
• On October 16, 2024, Radiant Capital was compromised through a sophisticated malware attack targeting at least three core developers, leading to a loss of approximately $50 million. The attackers manipulated transaction data to execute a transferOwnership function unnoticed during routine multi-signature transactions.
• Radiant DAO has implemented several security enhancements, including reducing the number of signers for multi-signature wallets, introducing transaction verification methods, and planning to redeploy core contracts with enhanced security features. They are also working closely with law enforcement to recover stolen funds and prevent similar future attacks.
Misc News
• @apecoin now integrated the OFT standard from @LayerZero_Core
• @OstiumLabs, the “Trade Everything” Perps is now Live
• @ParallelAIx announces partnership with @ionet
• Worldcoin Rebranded to “World” and launched an Ethereum L2
• Kraken launched kBTC, a wrapped Bitcoin token aiming to compete with WBTC, introducing more liquidity and options for Bitcoin transactions on Ethereum and other networks
• FBI arrested SEC Hacker who announced BTC ETF approved 1 day before the actual official announcement
• Siam Commercial Bank (SCB), the oldest bank in Thailand adopted stablecoins for cross-border payments. Personal note — SCB also has SCB10x Crypto/AI arm, they have a pretty neat Web3/AI co-working space in Bangkok
• Trump reaches 63% on Polymarket after Kamala Harris interview on Fox News — TL;DR, she avoided answering questions & blames Trump