GM Digest #56
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Why Are We Green for the Third Day?
• BTC is up 1.7% while ETH is up 1.2% during the past 24 hours
• Besides bullish CPI report, great institutional sentiment, and short squeeze, PPI report actually came in hotter (more inflation) than expected
• Nonetheless, the market rejected the idea that U.S. macro policy might stay more restrictive for longer in order to tame inflation, the odds of a “rate hike pause” stays at 97% probability
Thoughts: Brace for more volatility next week with the FOMC meeting (Sep 19-20). If there’s no rate hike, we can see further experience positive market developments across Traditional & Crypto markets
Majors Pump But Altcoins Still Down
• While the top 100 coins pumped during the last 24 hours, there’s a mix of sentiment in altcoins where only altcoins in narrative pump
• $UNIBOT & $BANANA have performed extremely well with 24% & 83% increase in the last 24 hours
• Other bots like $NEWS $DMT $LBR $METAL $LOOT have not been performing well — retracing 5-10% during the last 24 hours
Thoughts: Still a heightened PvP Market for Shitcoin & Altcoin Market. Liquidity flows to Friend Tech, farming for FT points. TVL on major ecosystems have only slightly recovered 1%+ for major Defi Eco (Arbitrum, Optimism, Base, etc). Not the best environment to actively trade alts & shits unless it’s a coin that’s in-narrative with proper product / unique value proposition. We’re gonna have Red / Fearful Days again. Gonna be waiting for those before I buy any alts or shits again
Banana Successful Relaunch
• @BananaGunBot relaunched its v2 at 20:00pm UTC yesterday at the price of $6.2 ($62m FDV) with 650 E in liquidity
• $BANANA went parabolic and is now trading at $10.8 ($108m FDV)
• The sharp increase in price is attributable to the trust that the Banana team has continued to strengthen — the team spent a lot of efforts in coming up with the solutions to make everyone happy and they succeeded at that
Thoughts: God, I missed this. Current valuation is too overvalued, going to wait for 25-30% dip before I start buying
BaseX Farms
• @BaseSwap_Fi introduces BaseX Univ3 Farms powered by Merkly by @AngleProtocol
• Univ3 Farms will provide adaptable rewards depending the chosen liquidity range — the tighter the range, the better the potential BSX & xBSX rewards
• BaseSwap also implemented smart order routing and optimized fee structure — offering 0.008%, 0.045%, 0.25%, and 1% resulting in an average of approximately 20% lower fees for stablecoins and blue-chip assets compared to any other DEX
Lybra x Pendle
• @LybraFinance partners with @pendle_fi, onboarding eUSD to Pendle’s LSD lineup
• Users can now long/short, hedge eUSD yields or earn more compounded rewards by providing liquidity to the Pendle eUSD pool
• Users can earn up to 69% Boosted APY on eUSD pool right now 👀
ATOM Liquid Staking
• @cosmos hub upgrade introduces a liquid staking module, eliminating a 21-day locking period applied for unstaked ATOM tokens
• With the new module, staked ATOM can be used in the Cosmos Defi ecosystem while earning Cosmos staking yields
Thoughts: Lots of Cosmos developments during the past 3 days — 2024 Roadmap Announcement, Metamask integration with Squid Router (Surf any Cosmos chain w/ MM), Atom Liquid Staking. Feels like something could be coming for Cosmos Ecosystem since the initial hurdle of user acquisition is now mitigated from direct integration with MM.
Aark Digital Tokenomics
• @Aark_Digital is the first-of-its-kind Leverage Everything Perpetual DEX, offering Leveraged LP and leverage trading of Super Long Tail Assets
• Aark has announced its $AARK Tokenomics, Airdrop for Testnet Users, and Genesis Incentives
• $AARK Supply at TGE will only be 2%, there’ll not be any Public Sale. The only way to earn $AARK is through Genesis Incentives
• Genesis Incentives are rewarded to Early Bird ALP & Point Mining and Events before TGE. Points can be mined from Trading, LP, and referral activity on the platform. Users can earn 33% APR on ALP right now (you can also leverage your ALP to earn more)
• Aark Digital was invested in a Seed Round led by Delphi Capital along with OKX, Big Brain VC, and Key Rock Trading
Thoughts: Aark introduced the first delta-neutral LPs in a peer-to-pool derivatives DEX. LPers experience delta-neutral exposure while earning trading & funding fees as yields. Long & Short traders pay funding fees to balance OI to be 50:50 between Long & Short. LPers absorb OI imbalances (When long traders or short traders win big profit, USDC value of LP reduces). The interesting thing is you’re able to leverage your LP up to 5x to take more of the traders’ PnL exposure. I’m currently trying this out with 2x Leverage while earning Points that can be used to convert to $AARK tokens — Suggest to try it out
DigitsDAO & Friend Tech
• @DigitsDao focuses their focus on Friend Tech. $DIGITS Friend Tech flywheel is introduced where
⇢ Digits has 115 E of Treasury in FT and More will be added
⇢ 100% of the Digits FT airdrop will go to $DIGITS holders for holders with at least 100,000 $DIGITS
⇢ All $DIGITS trading tax (5% Buy/Sell) will go to buy more keys
⇢ All Digits FT trading fees will go to buying back and holding the DigitsDAO key
• $DIGITS have pumped 20% after the announcement
Thoughts: More KOLs and well-recognized DAOs are focusing their efforts into FT to farm the airdrops. With the current market downturn, the ROI of FT farming exceeds buying/selling random shitcoins & altcoins. I’m personally gonna try to be a bit more active, sharing more curated alpha, insights, WLs, and private rounds allocation or anything that I find interesting there.
Adscendo IDO is Live for Public
• $ADO Price is $0.06 with $540k MCap ($6m FDV). There’s currently 15 E out of 32 E (50% filled)
• $ADO will be released at TGE in 70:30 (ADO:esADO) (7-days vesting for esADO)
• @Adscendo_fi is the Next-generation Stablecoin and Leverage with aUSD, Leverage stETH yield rebasing Stable and lstETH, Leveraged stETH derivative
Thoughts: Not much hype around Adscendo IDO at the moment even though the product is pretty unique. The MCap of Adscendo is lower than Mori Finance’s IDO MCap of ~$800k but the market timing is kinda tricky right now. There’s a good likelihood to pump post-TGE due to the 30% lockup in the form of esADO. Would recommend checking the sale out
Degen Section
• MetaKeys NFTs declined 25%+ yesterday as it got delisted from OS. I ended up bidding for more than expected. Bidding another one today at around 0.4 E
• No other degen activity atm
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*