GM Digest #471 — ETH $3.2k | Solana Defi is Up Bigly

Good Morning with Valuable Alpha / News

Defi Coins Continue to Outperform

• Solana Defi coins continue to outperform the market with $DRIFT +271%, $RAY +67%, $ORCA +75%, $KMNO 93%+, and many more experiencing 30-70% gainz for the past 7d

• $ETH reaches $2.3k and $SOL is now at $207

• Despite the surge in price action, Google search activity remains way below 2021 and March 2024 highs, suggesting that we may be far from retail market euphoria. Profit-taking data on Glassnode also suggests that the activity is also tiny compared to all-time highs

Algebra x Photon

• @CryptoAlgebra has partnered with @Photon_Labs to bring its Modular AMM, Integral, to the Photon network, aiming to unlock DeFi opportunities for Bitcoin

• This collaboration addresses Bitcoin’s limited DeFi utility by introducing Algebra’s concentrated liquidity and dynamic fees to the ecosystem

• Photon’s PBTC token will allow Bitcoin holders to engage in DeFi activities like lending and yield farming without leaving the Bitcoin network

• Algebra community members have access to an exclusive Solar Nation NFT Mint whitelist as part of this initiative

Bungee SuperSpin

• @BungeeExchange's new SuperSpin rewards users for swapping tokens across chains, specifically bridging to Optimism and Base

• For each transaction to these chains, users earn $OP rewards covering 80% of onboarding fees, with a total of 30,000 $OP available until depleted

• From Nov 8 until the 20th, leaderboard rankings will be determined by total swap volume, with the top 20 eligible for prizes worth $8.5K. The rewards are capped at 10 $OP per transaction, and users can claim their $OP after the campaign ends in November

Cirus Decentralization

• @CirusFoundation will transition to a decentralized, non-custodial wallet on Nov 25, giving users full control over their private keys and digital assets

• Users will need to transfer unsupported tokens (XRP, DOGE, USDC, BTC, SOL) to compatible wallets before the shift. Tokens valued over $3 will be moved to users' new wallets; balances under $3 will convert to Data Earnings

• Logging in will require the same email for continuity. Cirus also plans a referral program to enhance user rewards as part of its move towards decentralization

Introducing Fragments

• @fantasy_top_ introduced Fragments, a new way to earn card rewards

• The new rewards structure reduces inflation by 19% overall and rewards distribution are also skewed towards higher leagues with the elite tier receiving 28%