GM Digest #464 — Virtuals on Steroids
Good Morning with Valuable Alpha / News
Virtuals Fun
• @virtuals_io has released AI Pump.fun with milestone / level up style progression of your AI agent
• Your agent gets into forum chat when MC reach $4.2k, 420k arrives on Twitter, 6.9m TG chat, 69m Sentient Terminal, 126m MC gets an onchain wallet
• $VIRTUAL pumped by 28% while 244+ tokens have been created and 134,000 VIRTUAL was spent. Massive surge in metrics
TON Memelandia
• TON Memelandia is a $1.25M memecoin competition with two events, Cabal Arena and Memecoin Mountain, to boost memecoin activity and liquidity on @ton_blockchain
• Cabal Arena lets teams of memecoin producers and traders compete for up to $750,000 in rewards by launching and trading memecoins on TON
• Memecoin Mountain, with a prize pool of up to $500,000, challenges TON memecoin communities to achieve top performance in trading volume, market cap, and community engagement
• Prizes include airdrops, liquidity injections, and promotional boosts, with the competition spanning four weeks
Another $25M Nillion Raise
• @nillionnetwork raised $25 million, led by @hack_vc with participation from angel investors and partners like Arbitrum and Worldcoin
• The privacy-focused project specializes in "blind computing," allowing data processing without exposing content
Plutus New Mechanics
• @PlutusDAO_io introduces plsSYK mechanisms to maintain a stable swap ratio between plsSYK and SYK, targeting 0.8:1 to 1:1. Plutus buys back plsSYK below 0.8:1 and mints above 1:1, using fees and treasury assets to support buybacks
• The upcoming Jones Smart LP strategy will automate reward distribution, liquidity control, and minting, optimizing for the 1:1 swap ratio
• Dynamic reward allocation shifts incentives between Single Staking (SS) and Liquidity Providers (LP) to manage token flow, aiming to stabilize liquidity and maintain peg stability
Base Fault Proofs
• @base has activated fault proofs on its mainnet, advancing on its goal of decentralization
• Fault proofs allow anyone to verify or challenge the state of Base, securing transactions without reliance on a central authority
• This system supports decentralized permissionless proposals and challenges, giving the community the ability to secure the network through incentives
• The next milestone is forming a decentralized security council for smart contract upgrades to complete Stage 1 decentralization. Looking forward, Base aims to develop multiple fault-proof implementations, moving toward full decentralization by 2025
Ritual Updates
• @ritualnet has announced a few updates over the past week on new products and partnerships
• The team rolled out 3 new products namely:
⇢ Infernet Cloud: A self hostable UI for running Infernet in the cloud
⇢ Infernet Explorer: The Infernet Explorer allow users to monitor Nodes and resource usage in the Ritual ecosystem
⇢ Infernet CLI: Allow easy deployment of Nodes
• The team also announced 2 partnerships with the first being Starkware. Ritual will be a coprocessor on Starknet and apps on Starknet can submit AI requests by passing messages to Ritual Chain allowing users, developers and researchers to access AI on-chain via Ritual
• The second partnership is with Arbitrum. Similarly, Ritual will be a co-processor for Arbitrum One and other L2s/L3s under the Orbit framework. This will allow builders in the Arbitrum ecosystem to natively access AI models
Time.fun Moves to Solana
• @timedotfun announced that they will be moving to Solana
• Whilst the team is working on the migration, users can still use the dApp on Base. However, users will have to sign up again post-migration
• The team has taken a snapshot of current balances and trades and will be refunding all users who end up with a negative P/L once they’ve sold their minutes. However, this only applies to users who are still holding minutes and not those who have performed and closed trades. It is also not applicable to users who purchase minutes after the migration announcement
• The points program is also temporarily paused and the last points drop will occur for the week of October 25-31