GM Digest #461 — Enough Web3 Internet for Today
Good Morning with Valuable Alpha / News
DWF Partner Drugs a Woman Allegation
• DWF has fired a partner for “trying to drug a woman in a restaurant” allegation
• The decision came after the allegation from Hana (a woman new to Crypto trying to get into the industry) that a DWF partner was trying to spike her drink at a restaurant. See full thread here: https://x.com/hananotsorry/status/1851256716626968579
• The DWF Partner turns out to be Eugene Ng. He was fired from his managerial duty & removed from the DWF website. Lingling, a female head of BD is now promoted to become a new partner in place of Eugene (Hmmmmmmmmmm….)
Stacks Nakamoto Upgrade Live
• The Nakamoto upgrade on @Stacks is now live, bringing Bitcoin finality and faster transaction speeds
• This upgrade boosts the average APY for Stacking rewards to over 10%, up from 2%
• The launch of sBTC is expected in 4-6 weeks, offering programmable Bitcoin with support from top industry partners like Blockdaemon and Figment
• Upcoming enhancements include faster block times, new Stacking pools, and improved data tracking
COOK Claims
• Eligible users can now claim their $COOK token rewards from @mETHProtocol, which holds over $1.25B in TVL in Ethereum liquid staking
• $COOK can be used for governance in mETH Protocol’s future, and trading for $COOK has launched on platforms like Bybit, MEXC, and Gate.io
• Supported by the Mantle Treasury, mETH rewards users with sustainable yields and additional incentives
SwapX on Sonic
• @SwapXfi, a DEX powered by @CryptoAlgebra V4, launches on the @0xSonicLabs blockchain, formerly Fantom
• Sonic’s official mainnet launch is set for December 2024, alongside a $200 million airdrop campaign, Sonic Gems rewards, and the Sonic Arcade play-to-earn platform
• Sonic Labs Innovator Fund aims to support development and attract top projects, while the Fee Monetization program allows developers to retain up to 90% of transaction fees
• SwapX’s integration with Sonic offers concentrated liquidity, active liquidity management, and unique incentives for users and devs
Introducing sUSD
• @solayer_labs introduced sUSD a RWA backed synthetic stablecoin on Solana in partnership with @OpenEden_Labs
• The sUSD protocol is a non-custodial Request-For-Quote (RFQ) marketplace meaning that only owners can create or destroy sUSD. Users have to simply deposit USDC and sUSD will be minted out to them
• sUSD natively earns 4.33% US Treasury Bill interest in USDC and is a rebasing token. sUSD was also made as a PoS collateral allowing it to secure off-chain systems such as bridges, oracles, and L2 networks
• Epoch 5 opens for users to deposit on October 30
Swell x Optimism
• @swellnetworkio announced that they will be joining the Superchain as an L2 built on the OP Stack
• Swell L2 will be a restaking yield layer bringing yield and security to the Superchain achieve via its Proof of Restake mechanics
• Swell L2 will be using ETH as the gas token and will be dedicating a portion of their sequencer revenue to the Optimism Collective
Jito Restaking Phase 1
• @jito_sol announces details of Restaking Phase 1
• October 30th at 11AM PST, users will be able to begin boosting their staking rewards with Jito (Re)staking by providing economic security for key Solana infrastructure
• Global caps will be set at $25M in deposits, evenly split between the three VRTs, with higher caps being added in the coming weeks
Misc News
• @blast is now live on @matchaxyz
• @AftermathFi partners with @dinero_xyz to bring ETH LST to Sui