GM Digest #54

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

Why Are We Up & Green Today?

• BTC & ETH have made a 3% move today sending the overall market into greens

• Even though we just had a big red candle a day ago, we’re bouncing back because

⇢ Franklin Templeton, asset manager filed for Spot Bitcoin ETF on Sep 12 signaling an even more bullish institutional sentiment (Institutions think we’re bottoming out)

⇢ Bitcoin on exchanges continues to drop (Traders typically withdraw & self-hold their BTC when they want to hold for a long-term)

⇢ Short Squeeze, over $38m of BTC & $8m of ETH have been liquidated over the past 24 hours, short squeezing, sending the market higher

Thoughts: We’re bouncing back up but don’t be too euphoric sers. CPI & FTX news will be coming today and we might see the charts dumping back down again. If you’re not properly hedged, would suggest you exit some of your alts and hold stables. Would be better to make a move once we get clear signal this week & the next (FOMC meeting). I’m personally just holding my current positions regardless of the price movements

ExtraFi 1-Click Rebalance

• @ExtraFi_io introduces One-click Rebalance Feature for Market-Neutral Strategy Positions

• As the price of the token fluctuates, the exposure of market-neutral strategy also changes. This is where rebalancing comes in handy

• Users can now access this feature by holding 4,000 veEXTRA tokens. There’s a 2-week promotional period where the threshold is 2,000 veEXTRA, afterwards it’ll be 4,000

• Extra Finance is one of the top leverage yield farming protocol based in Optimism and now in Base. Extra has been growing rapidly in the past 2 months, growing its TVL from $1.5m to $24.5m. (Juicy stablecoins LP yields 👀)

Thoughts: One of my most favorite leverage farming protocol. If you wanna hedge against the market but still earning attractive stable yields. Really suggest you to check all the leverage stable pairs out on extrafi.io site

Elektrik AI-Powered LP

• @ElektrikNetwork, the first DEX to be built on @LightLinkChain introduces Dynamic Liquidity Provisioning (DLP) which leverages AI to improve LP capital efficiency

• AI is used to dynamically manage liquidity, predicting possible future price, price likelihood weighing, and strategically allocate its liquidity based on the 2 factors

• LP gets max yields & reduced IL while Traders get reduced slippage and optimal trading environment

• $ELEKTRIK airdrop campaign is also live where users will earn points from doing social tasks, interacting with testnet, etc (Recommend checking out their Airdrop article for more details)

• Lightlink is Layer 2 blockchain secured by Ethereum, purposefully built for Metaverse, NFT and Gaming applications

FOMO Card

• @Fomo_House, one of the top @berachain project announces FOMO Card

• Fomo House was originally planned to be a gambling platform but pivoted due to the market condition, launching Token Reward Program as-a-service instead

• This allows partnered dapps to reward its users who hold a FOMO Card or a FOMO Pass subscription with token back rewards via FOMO Boost emissions

• FOMO Card NFT will be ERC-6551, introducing the concept of Token Bound Account (TBA) where you can equips each NFT with your own dedicated wallet, turning every NFT into a comprehensive wallet maintaining complete records of ownership, transaction, and utility records

• FOMO Card will be launching at the end of Q3 2023 (This month), the team hasn’t shared minting details yet but this will come out in their Part 2 of FOMO Card article on Medium (Suggest reading the article if you’re interested)

Thoughts: Berachain is one of the most meme-able chain, some consider them a fake chain because of all the memes, but many see them as a revolutionary chain that’ll change the L1 landscape. This is my first time seeing FOMO Card, gonna keep a close eyes on this and try to mint one — Will keep close eyes & share more on this once more details come out. Hopefully I can get some WLs and share em with my FT keyholders too lol

oSnap v2

• @UMAprotocol and @SnapshotLabs bring you: oSnap v2, Gassless Snapshot voting. Automatic onchain execution

• v2 offers DAOs a practical governance solution that combines off-chain Shapshot voting with trustless on-chain execution

• The solution makes DAOs more decentralized and autonomous, removing the need for multisig transactions

• UMA is the optimistic oracle that validates any data onchain. UMA also built @AcrossProtocol and oSnap

• SnapshotLabs built snapshot . org where on-chain voting of DAOs & Projects take place

VaporWallet x VISA

• @vaporwallet is a digital wallet designed to hedge inflation, enabling a simple and seamless route to escape from inflation into assets that retain their value better

• VaporWallet is under the VISA Accelerator Program 2023, which runs until October 2023, after which the product will be launch soon with the partnership of VISA

• VaporWallet is a spin-off of @playbuxco which is the largest Web3 gaming / entertainment platform on BNB

Level 2.0

• @Level__Finance v2 will introduce an on-chain orderbook system will support multiple, various assets, not just Crypto but Forex & Stocks on a synthetics basis

• The new design will also allow more user friendly and functional trading features, more akin to features available on traditional CEXs

• “The goal is to provide an experience similar to non-blockchain platforms. We aim to abstract away many blockchain interactions, making them more user-friendly. we’re exploring solutions like trustless bridging and cross-chain settlement”, said Level Finance Team

Thoughts: Level Finance flywheel went through a death spiral due to its high emissions given out to traders. Large volume was traded on platform due to the attractive LVL 0.00%↑incentives from the loyalty program. Since LVL has fallen in price, traders migrated to other attractive perp platform like HMX. An order book model could offer a way to mitigate the death spiral, improving capital efficiency for both traders & liquidity providers, will be interested to see once more details come out. For now, would suggest staying away from LVL token

STFX x CapDotFinance

• @STFX_IO integrates with @CapDotFinance offering perp altcoin pairs & lower fees

• STFX plans to slowly roll out its v4 features in the next two weeks. v4 features include

⇢ Copytrading: copy & subscribe to traders allowing them to open trades whenever they want

⇢ TG Bot: enables you to onboard and invest in trades/vaults with just one click. You will also receive alerts when your favorite trader begins fundraising

⇢ More Assets: Forex, Indices, Metals, altcoins perps and all Uniswap pairs to be available for trading on STFX

• STFX is a SocialFi platform that allows users to invests in perp strategies vaults of fund managers. Fund managers create single-trade vaults, raise funds, and execute their strategies. STFX was recently invested by @fintech_io, early stage VC with over $700m AUM

Thoughts: SocialFi projects have performed relatively well due to the hype of Friend Tech but also died down fast since UI/UX is not optimized and the social effect / the user onboarding funnel is not good enough to bring in meaningful amount of users. FT is able to onboard large amount of users due to its seamless integration with Twitter — 1-click integration, allowing users to buy/sell their own shares without hassle. Platform like STFX or Perpy require fund managers to raise fund, and require users to go through steps before being able to invest in a certain perp strategy. This could likely change / improve upon the gradual roll out of STFX 4.0 where users will be able to copytrade directly from Telegram (on STFX TG Bot)

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