GM Digest #81
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Market in Red
• BTC & ETH have fallen down 0.6% & 1.4% respectively over the last 24 hours to $27.6k & $1.58k
• The dump (across markets & not just Crypto) comes after the geopolitical uncertainty arises from the Israel-Hamas war
• The burgeoning Middle East conflict added a dose of geopolitical risk to the interest rate and inflation concerns already facing markets
Thoughts: Geopolitical risk tends to not linger far too long in the market. Today is 10.10 (also known as double digits day) when shoppers in E-commerce are fighting for flash deals — cheap shampoo, air fryer, or a discounted new phone. This is what’s happening with our market also, discount doesn’t stay long, Arbitrum run is coming soon and this is a great time to buy — buy when people are fearful, sell when others are euphoric
Fantech Incentivized Participation Week
• @joinfantech is a SocialFi platform on the Mantle ecosystem
• Fantech has collaborated with @0xMantle to launch an incentive program with 50k $MNT to be distributed to Fantech users
• From October 9 to October 16, users will be able to earn $MNT in proportion to the points they earned. The $MNT rewards will be sent directly to the in-app wallet and will be reflected at about 6am UTC everyday
Thoughts: Feels like the incentives come a little too late and may not be enough to re-acquire users hopping from one FT fork to the other. First we had a successful Stars Arena run → 2 Exploits happened → users hopped back to FT → now hopping onto Cipher & enjoying the experience (Arbitrum Foundation Shoutout & KOLs hopping onboard and vibing definitely helped out a lot). Fantech needs big KOLs push & exciting Share Generation Events (SGEs) to move the needle here
Introducing Superposition
• @Superpositionso (SPN) is Defi Native L3 built on Arbitrum. It aims to create a Unified platform for Liquidity & Utility, offering permissionless access to the order book for applications and a marketplace for order flow
• TL;DR → Arbitrum L3 Nitro Stack (Extremely Fast) + Account Abstraction + Centralized/Unified Liquidity & Orderflow (Any Defi dApps can tap into it and build on top of it) + DEX CLOB leveraging Arbitrum’s Stylus + @fluiditymoney’s Fluid Assets Utility Mining + More
• Fluidity Fluid Assets is are 1-to-1 wrapped assets that generate rewards for holders. Rewards are generated by the cumulative yield generated by the underlying asset, which is deposited and lent on money markets
Thoughts: One of the upcoming projects that I’m super excited for mainly because of utility mining fluid assets interaction & CLOB AMM & DEX which could definitely act as a L3 Defi Hub on Arbitrum (especially for new projects looking for liquidity). What’s interesting is that many of the pools or liquidity on Superposition will be in fluid assets form, meaning you’ll earn additional yields from transacting on the exchange (Like a Built-in Trading Loyalty Program) as well as earn extra yields from holding the fluid assets. This will be on top of any trading fees and other traditional fees that you often earn.
Disclaimer: I’m in talks of potentially coming on as Advisor/Ambassador for Superposition. Will drop more alpha here later (if I become one lol)
Cipher Takes Off
• @cipher_cores, SocialFi platform on Arbitrum took off after a shoutout by @Arbitrum — Its TVL has rapidly increased from $100k level to $300k with many content creators joining the platform
• The team recently rolled out new features such as Light Mode (from full Dark Mode), Curated Feed, Boosted Ciphers (Best Content), and algorithm to kill the bots
Thoughts: More curation, more vibing, Twitter-like experience, and interesting point systems from interaction + holding, and sleek UI/UX is what Cipher is offering. I’m on here but not active at all, signed up just to try it out lol. Personally will refrain from any 3,3 activities and will mainly share insights and WLs on FT for now
FRAX v3 Deployment Underway
• The deployment of @fraxfinance’s FRAX v3 is underway and should be complete in the next couple of weeks. Followed by frxETH v2 and Fraxchain
• V3 will bring significant improvements to the system. These include achieving 100% collateralization of $FRAX (currently at 92%) and providing 'immunity to black swan events' utilizing the sovereign USD peg
• Sovereign USD peg → Once the FRAX stablecoin reaches 100% CR, its peg will track to USD using a combination of Chainlink oracles & governance approved reference rates
• However, the highlight of the V3 update is the RWA strategy. Thanks to Frax's collaboration with FinRes, users will now have the opportunity to stake $FRAX for $sFRAX and earn yields that are close to the FED target rate. Rumors are this starts on Wednesday
• Frax Finance offers a whole range of products but their most notable ones are $sfrxETH, an LST with one of the highest yields on the market, and $FRAX the stablecoin
Ostium Announces Raise of $3.5M
• @OstiumLabs is a perpetuals DEX purpose-built for RWAs, coming soon to Arbitrum
• They announced that they have successfully raised $3.5M in a funding round led by @generalcatalyst and @localglobevc with participation from @alliancedao
• Their testnet is supposed to happen in Q4 this year starting with commodities and FX. You can sign up for the waitlist on their website now
Misc News
• XY Finance and Mantle Integration
• @blur_io announces Season 2 ends on Nov 20
• @synthetix_io Perps V3 on the horizon & it is launching on Base
• Pro-crypto RFK Jr. to run for U.S. president as independent
• Chinese state newspaper 'China Daily' to launch NFT platform
• @binance and @okx embrace new UK financial promotions rules
• @IntentX_ shared its 100% rev share tokenomics with multiplier point system & decaying exit fee
• Pfizer-backed DAO Launches Community-Funded Biotech Firm
• @Instadapp teases lending protocol “Fluid”
• $RAFT is @raft_fi’s native token and will be used for staking and governance. It can be staked through providing liquidity by pairing it with $R on the 80:20 @Balancer pool.
• @PrismaFi partners with LayerZero for its Omnichain mkUSD
• FXN/ETH , cvxFXN/FXN and sdFXN/FXN gauges passed on @CurveFinance
Arbitrum Pick of the Day — $RDO Rodeo Finance
• Rodeo Finance is only a breath away from reaching quorum (1m ARB away). Rodeo will receive 250k in ARB incentives in which 30% will be distributed to the lending pool and the rest to Leverage & Yield Strategies
• $RDO price have moved 6.3% up while everything is tanking due to the overall market. But the token price is still trading at almost the lowest lows, -50% from its TGE price
• Even though Vaultka has rapidly taken the #1 spot in Rodeo’s stead since the exploit, there’s still space for Rodeo as Vaultka is only focused on Perp Leverage. Rodeo’s LST leverage products and Univ2 & v3 LP will still be in demand
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*