GM Digest #98

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

Oct 27, 2023

Vertex Token Launch

• Vertex Protocol have announced the launch of $VRTX is scheduled to take place on Nov 13 → Nov 20 via an LBA (Liquidity Bootstrapping Auction) mechanism

• The LBA will have 3 phases designed to seed the initial $VRTX market liquidity, promoting fairness, and reducing volatility & botting

⇢ Stage 1: The 7-Day Auction — Supply $VRTX and/or $USDC which will be used to seed the initial VRTX-USDC.e pool on Vertex (1% supply as LP incentives)

⇢ Stage 2: VRTX Token Launch & Liquid Claiming — Users can claim trading fees from the LP as well as the LP incentives, $VRTX token launch

⇢ Stage 3: Post-LBA Vesting — The locked LBA’s LP started vesting for the next 120 days

• @vertex_protocol is a hybrid Orderbook-AMM perps DEX on Arbitrum

Shuriken Hints at an Airdrop

• @ShurikenTrade is a trading platform that can be accessed through either a Telegram Bot or a WebApp interface

• Built by the team behind @sensei_dot_win Shuriken offers advanced order types, an automated sniper tool, and customizable trading layouts. The protocol went live 7 days ago and has reached $3M in volume with around 200+ daily active users

• In one of their recent tweets, the team hinted that all actions are being monitored and early users will be rewarded. This basically confirms that an airdrop is to be expected in the not-too-distant future

Sybil Samurai Airdrop Farming

• @SybilSamurai is a project that offers Airdrop Farming as a service

• They bootstrapped the treasury back in May by minting out the Samurai NFT collection, raising $1M in the process. There are 3 tiers of NFTs each providing you with a different amount of shares. Tier 1 = 50 shares, Tier 2 = 350 shares and Tier 3 = 2100 shares

• While the specific airdrops they are farming remain unknown, they have consistently stated their focus is on prominent projects such as $ZKS, $ZRO, and $STARK. Once any of these projects distribute an airdrop, NFT holders will have the opportunity to claim their share. The distribution split is 70% for holders and 30% for the team

Thoughts: I'm bullish on the samurais for one reason: when the next big airdrop gets announced, there will be a significant amount of hype generated, and those who missed out will experience FOMO. Other airdrop farming service projects usually offer bots and other multi-wallet sybil strategies, but you can't deploy those retroactively. Grabbing a samurai NFT will be the only way of obtaining a piece of that airdrop

Ether.fi Native Staking on Polygon zkEVM

• @ether_fi together with the @0xPolygonDeFi team have brought native staking on Polygon zkEVM

• Minting weETH on Polygon zkEVM will not be directly integrated into the ether.fi dApp allowing users to stake without needing to bridge, removing frictions such as cost of fees and bridging wait time

Introducing PRISMA Token

• @PrismaFi introduces $PRISMA — the governance token to govern the Prisma protocol. $PRISMA is set to be distributed on 2 November

• Starting next week, 62% of the 300m total supply of $PRISMA will be emitted with the emissions being directed by the Prisma DAO itself. These emissions will be used to incentivize the Prisma protocol as well as to incentivize LPs

• Additionally, 10% of the total supply will be allocated to Early Supporters who assisted in bootstrapping costs associated with the initial development of the Prisma Protocol. This mean that early depositors and mkUSD minters could be rewarded. These tokens will unlock linearly for 12 months

Solana Launches Startup Incubator

• @solanalabs launched the Solana Incubator offering projects assistance with hands-on blockchain development, design & go-to-market planning, fundraising support and intros to top VCs, connections to Labs’ network, amplification via the Solana Labs marketing channels

• The incubator aims to bring more projects and founders into the Solana ecosystem

Parallax CALM

• @parallaxfin introduces Concentrated Active Liquidity Management (CALM), a solution for automated and active management of concentrated liquidity

• CALM is designed to complement Parallax’s existing product suite which includes Passive Liquidity Management (PLM) Strategies and Concentrated Active Liquidity Management (CALM) Strategies; which would allow the protocol to empower users by providing safe and optimal yield opportunities, create a dynamic flywheel driven by yield and tokens within the ecosystem, adapt to changing narratives and market dynamics

• The CALM system works by firstly depositing assets from all deposited NFTs into the specific Uniswap v3 pool, and then defining the optimal price range for the position. The price range will continuously adjust for users to accrue fees

• CALM is basically a Liquidity Manager Module that Parallax has created while PLM are the passive strategies that Parallax previously referred to as Orbital, Supernova, and Andromeda

• This vote will begin on 30 October 1pm UTC and Parallax holders will be able to vote for or against the CALM and new PLM integrations

DeltaPrime Farming Strats Updates

• About 2 weeks after farming on @DeltaPrimeDefi, both of the ETH - USDC.e & ARB - ETH pools have drastically increased its Max APR by almost 3x. This is likely due to the increased activity propelled by BTC pumps

• I’ve removed my ETH - USDC.e strategy and doubled down on ARB - ETH due to the beta of ARB to ETH. The entire portfolio is earning about 234% APY (not including impermanent loss) from

⇢ 2x Leverage on ARB - ETH LP Strategy on TraderJoe

⇢ Single-sided Staking of USDT (Collateral) on Yield Yak

• The collateral value has increased from $894.7 to $946.8 in 12 days, making this a 459.33% APR (annualized). Obviously, this is attributable to the recent pumps but if the market ranges, the yield offered on this strategy is still very attractive

• Delta Prime recently launched Level Finance 3 Debt Tranches LP with APR up to 1,300% on Junior Pool. Recommends you checking Delta Prime out if you haven’t already

Misc News

• @useteller partners with @wasabi_protocol to provide liquidity for BNPL for NFTs

• @Aptos_Network announces winners of ‘Aptos World Tour’ Hack Singapore

• @Root_Genesis $ROOT TGE brought forward to Oct 27 (from Oct 28)

• @dYdX v4 officially launches on @cosmos as a standalone chain

• @LayerZero_Labs is live on @XPLA_Official — an open-source, proof-of-stake, EVM-compatible blockchain based on Tendermint

• @hackenclub shared in Hacken Q3 Report that 85% of the projects that rugged did not have audit report. Some rugged but have audit report with low score (which nobody bothers to look at the report themselves out of FOMO)

• @Nimbora_ x @LiquityProtocol, allowing users to borrow $LUSD at 0% interest directly from Starknet

• @ZetaMarkets is a perp DEX on Solana offering perpetual swaps for BTC, ETH, SOL, ARB & APT and is backed by @ElectricCapital, @jump_ and @wintermute_t. Zeta announced Z-Score, a point system based on your trading activity on Zeta (for future tokens)

FOMO Card NFT WLs

• Sharing 5 WLs of FOMO Card WLs here for Substack readers. Please DM me on Twitter & Join FOMO House if you want the WL — Details on FOMO House & FOMO Card is mentioned in yesterday’s GM Digest episode

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

0xJeff’s Substack

Discussion about this post