GM Digest #70
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
We’re So Back Boys
• Market is as green as Bob Marley when he was singing “Don’t Worray~ About a Thing…” — BTC & ETH up 1.0% and 1.4% respectively
• Altcoins, particularly Arbitrum coins have seen lots of greens in the past 24 hours — $Y2K 57%, $UWU 29%, $MOD 25%, $GRAIL 24% (It’s touching $1k again), $PLS 23%, $CHR 20%, $GMD 19%
Thoughts: The market is further pricing in the Q4 Catalysts (EIP-4844 & Arbitrum STIPs that many projects have made proposals for). The majority of Arbitrum projects are still trading at a way lower valuation than their previous levels with many trading under TGE price — $GRAIL at ~$1k level down from $4k highs, $DMT at $15 from $50 highs, $TND at $0.3 from $6 highs, and many more
Focal points for pumps will be in extremely low cap coins, especially those who may be eligible for some $ARB STIP grants
Metaverse is Real
• In a conversation between @lexfridman & Mark Zuckerberg, the famous computer scientist Lex and Mark engaged in a face-to-face conversation that’s not in person, but on the Metaverse
• This Metaverse isn’t some cartoony, shitty Metaverse. It’s a photorealistic avatars unlike anything we’ve seen
• Suggest you guys check it out here: https://twitter.com/lexfridman/status/1707453830344868204
Thoughts: Not the Metaverse or VR kinda guy but after I saw this interview. I feel that this is so unreal lol. Considering that Metaquest 3 (which is required to access the photo-realistic Metaverse) is quite costly at $500 per headset + more if you includes shipping and all, and as much as I enjoy gaming & immersive experience, motion sickness is one of the largest hurdles for me. Not buying & trying this until they do something with motion sickness. But overall, great to see that Metaverse is looking legit now
The Exorcist X Aptos
• Universal Pictures and @Aptos_Network are collaborating to bring a “Web3 fan experience” for the upcoming horror film — The Exorcist: Believer
• The 'Exorcist' fan experience aims to allow consumers to engage with exclusive digital art, behind-the-scenes footage and AR filters while also getting the chance to win physical prizes
Thoughts: What the f-
Retro Introduces SIPE
• @Retro_finance Synergistic Inter-Protocol Emissions allows for veRETRO holders to receive veTokens from other protocols for voting on gauges
• This is done through the introduction of bveTokens (bribe vote escrow) — bveTokens are essentially a tokenized, max-locked veNFT. Tokenization gives Retro the option of essentially offering veNFTs on their gauges as bribes
• It allows Retro the ability to offer any veNFT on their gauges as bribes — including veNFTs from other protocols
• Currently there are 2 bveTokens being offered on Retro blue chip gauges — bveRETRO and bveZERO. ZERO is a Retro fork that will be deployed on Polygon zkEVM in October (by the same team behind Stabl Labs & Retro) and Polygon has given Stabl Labs a sizable grant to be used as bribe rewards on ZERO
• 2 Additional friendly forks are in discussion with Retro to potentially bring their emissions in the form of bveTokens — One from Arbitrum (Horiza) & another on Mantle (Crust)
• Stabl Labs is creating the first ever, multi-token airdrop that occurs every week and lasts forever while solidifying Retro & Zero positions as a liquidity hub on Polygon & Polygon zkEVM
Thoughts: A pretty cool mechanics that could reduce the emission of the partnered protocols especially during short-medium term. By giving veNFT bribes instead of actual token emissions, similar vibes to oTokenomics (call options) but easier to understand
FXN Live
• @protocol_fx’s $FXN is live and the team has added liquidity on @CurveFinance. Users are now able to swap or LP FXN/ETH on Curve
• At the same time, users can also stake the LP tokens on @ConvexFinance for extra yield
Chainlink Universal Gas Token
• Chainlink has recently teased $LINK as the Universal Gas Token and teased enhanced payment models that support the monetization and long-term economic sustainability of the network
• Users Interacting with Chainlinked Smart Contract / Services, Pay with any currency, and Chainlink will convert those payments into LINK to reward service providers for their work
Diva Early Staker Incentives
• @divastaking announced Early Staker Incentives powered by @enzymefinance
• Users can now deposit ETH or stETH into Enzyme vaults to earn DIVA rewards. Once Diva goes Mainnet, ETH or stETH will be converted to divETH (Diva’s LST)
• The earlier you deposit your ETH or stETH, the higher the DIVA rewards you’ll receive. So far ~160 E has been deposited in the vaults
• ETH and stETH can be withdrawn anytime, withdrawing will result in you losing your DIVA rewards
• Diva is a staking solution with a vision for decentralized future through Distributed Validator Technology (DVT) to empower thousands of stakers & operators to participate in staking validation
Juicy Perp on Arbitrum
• @JuicyPerp aims to add the juice back to NFTFi with its NFT Battles, NFT Perps, and Gamified Leaderboards & Competitions
• NFT Battles → Users pick whether a collection is “Moon or Doom”, toss your ETH into a battle pool, watch the market for 24 hours, and claim your share of the pool. Collection vs Collection will be out after the initial battle product
• Juicy plans to employ real liquidity as a counterparty in NFT Perps + Competitions, leaderboards, points system. More details released soon (according to the team)
• Juicy’s mission is to become a full-fledged NFT-fi hub, become the go-to provider for accurate, on-chain NFT data starting with Arbitrum
Thoughts: Unsure how this is better than NFTPerp or Trib3 yet but glad we’re having an Arbitrum-native NFTFi project
Misc News
• @SuiNetwork launched Play Beyond, the gateway to gaming on Sui
• @MixinKernel offers the exploiter a $20m bug bounty in return for the stolen assets
• @coinbase rolling out perpetual futures trading for non-US customers
• IOTA Network to Debut ShimmerEVM’s Smart Contracts and Tokens
• $INJ market live on Levana's @Injective_ deployment. Users can now trade $INJ up to 30x leverage
• @avalabsofficial annoucned Firewood: A Next-Generation Database Built for High-Throughput Blockchains on Avalanche
• @aori_io public beta is live
• Aave Governance v3 Activation Plan
• Snapshot vote to add TriCRV pool to @GearboxProtocol
• Introducing @NibblNFT allowing users to trade onchain assets such as NFTs and @friendtech keys using ETH based perps
• @Protectoratexyz’s Zaar is now open to the public
• QuillDEX rebranded to @skydrome, Liquidity Hub on @Scroll_ZKP
• @BasinOnBase CDP on Base, has unveiled its v2, launching its own Perp DEX
• @SpoolFi partnered with @allianceblock to improve investor options and legal compliance.
• @LithiumFinance partnered with @PEASYlabs to enhance NFT valuation capabilities
• Introducing @FilamentFinance Cosmos Interchain Perp
Arbitrum Low Cap Picks
• Rodeo Finance $RDO — Both are Leverage Farming Protocols, Rodeo was exploited 2 months ago a few weeks after its TGE but has since then remunerated majority of victim’s damage, bumped up its security, and slowly shipping. The $RDO token has barely pumped yet and its MCap is at ~$500k with FDV at $5m
• GMD Protocol $GMD — GMX v2 Vaults with upcoming catalyst + $ARB and xGND rewards for esGMD stakers. MCap at $2.6m & FDV at $3.5m
• Lodestar Finance $LODE & Tender Finance $TND — Arbitrum Native Money Markets, number 1 and number 2 respectively. Each with extremely low caps — $1.3m & $300k MCap
• Overview Threads on Lodestar & Tender
Arbitrum Upcoming Launches
• Radpie $RDP — Governance Aggregator of Radiant Capital. $RDP IDO next month with FDV of $5m and $10m (2 rounds IDO). mdLP converters get the highest allocation + vlMGP stakers also get a good chunk of allocation as well ($MGP staked tokens). Only 30% of the token released at TGE just like what happened with $PNP Penpie, high likelihood this pumps 2-3x after TGE
• Vaultka $VKA — On of the top Leverage Farming Protocol right now that focuses on Perp DEX Liquidity. TGE on Oct 16, launch at $800k MCap. Leverage Farm and provide lending liquidity on the Vaultka platform right now to get WL or just wait and compete for the Public Round (which is majority of the fundraise). Vaultka is the first protocol to do Leverage on GMX v2 GM Pools, its TVL has been rapidly increasing during the past few weeks. TVL is now at ~5m
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*