GM Digest #85
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Big Time Going Big Time
• @playbigtime $BIGTIME recently listed on Binance and soared 320% upon listing. Big Time is one of the biggest MMO Hack & Slash game that have been in development for a while
• Users can discover new Adventure Instances, craft and find collectibles, open Mystery Boxes, use new abilities, and much more with the Pre-season launch
• Who can access the game rn → GOLD/SILVER/JADE NFT Pass redeemers prior to pre-season launch and Space Holders NFT before Oct 13 (Team pls gib some invite codes)
Thoughts: This is one of the most awaited GameFi games for a very long time. Have not been monitoring this but will gib some invite codes if I get some
ThorsSWAP Back Live
• @THORSwap is back online and users can now continue swapping over different blockchains
• The team has now implemented a new Terms of Service and partnered with an industry leader to put some extra guardrails in place to help prevent the flow of illicit funds
• The new Terms of Service would exclude any resident or citizen of countries sanctioned by the United States, the United Kingdom, or the European Union from using its front-end platform
Catalyst Integrates with OP Stack
• @CatalystAMM is a cross chain AMM solving the cross chain interoperability problem by creating a permissionless, unified liquidity layer that seamlessly integrates with any chain or rollup
• The team announced their plans to integrate with the OP Stack with plans to bring unified liquidity onto @optimismFND’s Superchain Ecosystem. This deployment empowers Catalyst to facilitate frictionless cross-chain asset swaps between chains built on the OP Stack
• Additionally, this integration enables participating Optimism Superchains to smoothly transfer value and link liquidity with any other Catalyst-enabled chain from the very beginning, streamlining cross-chain transactions and enhancing the flow of liquidity
$BLUR Fee Switch
• @arca has submitted a new proposal on the Blur Governance Forum to activate the $BLUR fee switch
• The proposal introduces two new utilities for the $BLUR token. Firstly, it suggests implementing a 1% base trading fee that will be utilized for token buyback and burning. Secondly, it introduces a tiered system to provide fee discounts depending on how many tokens you hold. The latter is to offset potential volume reduction because of the fee
• @blur_io still retains the majority of the market share, but the $BLUR token price action has been pretty much down only. This is probably because people perceive it solely as a governance token without any real utility
• Blur has teased that they have a few products in development. It is rumored that these products could include NFT Perps, Launchpad, and NFT Index tokens. If that is the case, it might be wise for them to release some or all of these products first before activating the fee switch
Thoughts: Blur has undeniably discovered product-market fit (PMF) and currently dominates the NFT marketplace. However, there has been a lack of value distribution to token holders. This proposal seeks to address that issue, and if implemented, it could lead to a re-evaluation of the $BLUR token in the market
deFarm Testnet Live
• @defarm_ETH is a social investing protocol for asset management that operates on top of other DEXes like @vertex_protocol and @perpprotocol
• On deFarm, traders have the ability to create trading vaults where investors can deposit their funds to earn passive income
• The social aspect of the platform centers around 'Seeds'. Each address has its own unique seed that can be minted, purchased, or sold (Think FriendTech with additional utilities). These seeds provide access to private investment vaults and private chat.
• The bonding curve mechanism of the seeds is not too aggressive to allow for a more sustainable price of the token and lower entry barrier. The way this is set, each trader’s performance and reputation will be directly tied to the price of their seed token
Thoughts: This one offers social farming experience like when you’re using STFX, Perpy, or NestedFi (Mass). This is nothing like Friend Tech or all the FT forks. Challenges with platform like this is it’s very difficult to acquire users & retain TVL on the platform as people who are around in the space are degens, and many degens farm & hunt for yields by themselves or farm for yields at the source (DEX, Money markets, leverage protocols, DN protocols, etc). It’s gonna be interesting how Seeds interplay with all the social farms and whether there’d be enough demand to bootstrap deFarm
EZswap Live on Arbitrum
• @EZ_swap is a multi-chain NFT DEX focused on gaming NFTs that utilizes the AMM model
• They originally launched on Polygon but have since expanded to ZkSync, Mainnet, Manta Pacific, and now Arbitrum
• Team has announced that 10% of $EZ token supply will be airdropped to the community, and they will also be incentivizing trading with $EZ emissions. EZswap's platform fees are distributed 100% to ecosystem stakeholders, which includes pool creators, traders, and stakers
Thoughts: Nothing much here, personally find the platform clunky and not optimized for users. Since we’re in NFT bear, don’t think NFT AMMs activity will pick up anytime soon especially when the main transacted marketplace is Blur & Opensea vis-a-vis NFT AMMs
Mozaic Increases Vault Cap
• @Mozaic_Fi offers automatic yield farming using AI and LayerZero technology
• The cap on the Hercules vault has been raised from 100k to 250k. This vault provides an automatic stablecoin yield farming strategy on Stargate Finance's single-sided staking pools currently yielding ~6% APY
• The AI dubbed Archimedes is responsible for rebalancing and allocating to farms that net the highest APY. It does so by taking into account predictive APY metrics, token prices, fees, slippage, volume, and more
Thoughts: Nothing exciting here for now. The one vault that they have is offering 6% APY on their stables and $MOZ token has been tanking since the LBP launch — There’s just no utility from the token rn
StakeWise v3
• @stakewise_io’s V3 introduces the concept of a staking marketplace where users browse offers made up of different node operators, fees, infrastructure, and MEV strategies, or negotiate custom terms with the operators of their liking. In short, stakers are able to reap the benefits of staking while staking on the terms tailored to them
• Furthermore with Stakewise V3, there is a fee structure which would enable fee savings for users through their LST — osETH. The fee structure consists of a staking fee paid to node operators and a osETH fee paid to the Stakewise DAO
• Minting osETH is optional and opting to not mint osETH would enable users to save on fees as they do not need to pay the osETH fee. Now users can choose to mint osETH and pay the additional fees only when they require the LST to participate in DeFi or sell a portion of their staked ETH
OKX Ventures Sep Investments
• @OKX_Ventures invested in @Aark_Digital, @dappOS_com, and @ScopeProtocol in September
• Aark = Peer-to-Pool Perp DEX on Arbitrum (You can leverage LP, juicy yields & pre-mining rewards right now)
• Dapp OS = First intent-centric operating protocol that aims to make dApps as user-friendly as mobile apps
• 0xScope = Data tool that aims to democratize and decentralize access to Web2 and Web3 data (They provide good on-chain data movements & analysis on a daily basis, recommend following their Twitter account)
Wise Lending Exploited
• @peckshield reported that @Wise_Lending on Ethereum got hacked with～$260K loss
• This attack was front run by MEV Bot c0ffeebabe.eth who frontran the exploiting transaction with a 93.4 ETH ($146.9k) bribe and its own income of 75.79 ETH ($118K) was fully returned to @Wise_Token
Hyperdrive
• Introducing @Hyperdrivefi, the first cross-chain native asset bridge with unified liquidity
• Deep Omnichain Unified Liquidity Protocol (DOULP) enhances omnichain market efficiency by facilitating less restrictive cross-chain transfers and enables liquidity providers to benefit from increased capital efficiency
• Hyperdrive is set to launch the Public Testnet in early November
BinaX on Arbitrum
• @BinaX_Protocol is a decentralized binary options exchange on @arbitrum
• BinaX has officially launched its Beta live on Arbitrum and users can now trade fast, cheap and super secure decentralized binary options on Arbitrum's L2 solution
• Upon launch, BinaX also announced that they will be supporting OKX Wallet users through its website and extension
• BinaX has also conducted a comprehensive audit through Beosin prior to the beta launch with no critical issues to be found
Misc News
• @redactedcartel’s Hidden Hand now supports @Liquisfi , a liquid governance wrapper for Bunni by @Timeless_Fi
• @Balancer’s proposal for building a smarter Burn Engine for @MakerDAO with @cronfinance TWAMMs
• @0xngmi’s built an extension that replaces the new tab page with a custom search that prioritizes safe domains
• @SiloFinance $crvUSD depositors can now boost rewards with @pendle_fi and @Penpiexyz_io
• @Contango_xyz joins @Arbitrum Odyssey and teases potential expansion on @optimismFND
• @TimeswapLabs pre-mine starts next week. Since their STIP proposal passed, we could potentially see double rewards in $TIME and $ARB
• @CantoPublic update proposal that enables RWA support to be submitted on Oct 12
• @segment_fi Sonne Fork, first money market on opBNB
General Stuff / General Thoughts
• Extension of Arbitrum STIP seems to be going in a good direction with many supporting the extension, possibly as a new Round 2 or extension to projects who have reached quorum, passed round 1 but couldn’t make it to the 50m deadline
⇢ $RAM, $MGP, $RDO, $WINR among a few others are good picks that could pump if round 2 passes. Especially $RAM where its MCap is extremely low but the grant amount is high
• Tried Delta Prime out yesterday and the experience has been pretty amazing on Arbitrum → earn yields on collateral while under-collateralize borrow up to 5x and LP farm with 100 - 300% APY on top. Excited for more integrations & update, would suggest for you to try it out
• Skydrome is taking off as the #1 DEX on Scroll because of its Solidly fork-style flywheel, they currently offer 900% pre-mining APR on main pools ($SKY rewards). You can bridge directly with Owlto or Rhino directly on Skydrome front-end
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*
Thanks for the info! I thought Ramses lost the only chance to get the grant, didn't know that there is a second round grant coming.