Ouroboros' Narratives Highlights

gonna pause newsflow for a couple of weeks, gotta get some yield strats up and running

Incentives / Farms - Aave and Sky (formerly Maker) introduces Sky Aave Force (Sky announcement, Aave announcement) where the two protocols will collaborate with each other: Aave v3 will integrate USDS and sUSDS with native token rewards and a Spark / Aave market will be created (and incentivized with 3.33m SPK tokens / month) - Summer.fi is boosting all Spark positions with double RAYS rewards for the next 15 days - Ignition's FBTC staking on Bedrock via Mantle offers users 20k MNT, 100k Bedrock Diamonds, 500k Sparks and 2x Diamond Boost from 2 Sep'24 to 13 Sep'24 Rugs / Exploits - WazirX hacker moves $6.5m worth of ETH to Tornado Cash Onchain - The largest BLUR staker deposited 15m BLUR ($2.2m) to Binance Raises - Nectar AI, an AI companion project, raised a $3.9m seed round co-led by Mechanism Capital and Karatage Macro / Regulatory - US SEC commissioner Mark T. Uyeda said the agency needs to create a distinguished S-1 registration form for digital asset securities - Binance executive Tigran Gambaryan denied use of wheelchair and had to enter Nigeria court on crutches Opinions / Analysis - Lydia Analytics on crypto incentives and how best to design programs - AzFlin's tl;dr on Ethervista - TheiaResearch on how Polymarket is still an inefficient market and its information value should not be overestimated

Daily Alpha (3 Sep'24) Presented by Menya Research Go to our highlights channel for easy access to all past Research Daily as well as alpha highlights from Ouroboros' Narratives chat. (Ref)links to farms: Corn, Elixir, Usual, Infinex, mETH, Ethena, Blast, Sanctum, Zircuit, Karak (code: pEZOP) Project Updates - Eggs, an open edition mint by the CryptoKitties, is performing well - Pear Protocol's Intent-based trading engine powered by SYMMIO goes live - Euler v2 is ready for launch - Drift introduces BET at Breakpoint allowing users to bet on the outcome of debates where a committee will determine the winner - PRISM launches its explorer, an AI-assisted data intelligence platform for Solana, offering comprehensive querying and simplifying blockchain analytics Tokenomics - Eigenpie announces Priority Access for its EGP token sale, offering 3.4m tokens at a $3m FDV through the Magpie Launchpad. The allocation is divided among Eigenpie S1 Points Holders (70.59%), vlMGP Holders (20.59%), and MGP/vlMGP Burners (8.82%). Funds will be used for liquidity and market making (50%), development and operations (30%), marketing (10%), and auditing (10%) - Vega proposal to deprecate the chain, suspending markets, redistributing funds to stakers, providing validator incentives for a 2-month controlled shutdown, and ending official support for the VEGA token and chain - GammeSwap's LBP raises 342 ETH Ethena Season 2 ends + Season 3 Details (Link) - Ethena season 2 comes to an end, claim checker opens 9 Sep'24 and claims open 30 Sep'24. Season 2 details: 1) 5% of ENA supply will be distributed as rewards, 2) Season 2 ends on 2 Sep'24, 3) Requirement to lock ENA to vest is removed, 4) USDe balance prior to the token distribution has to be higher than 30d average balance from 1 Sep'24 snapshot or the user will have their token allocation reduced proportionately, 5) Largest 2k wallets will have 50% subject to linear unlocks over 6 months. Separately, - Ethena introduced sENA which is a liquid receipt token which can be used in DeFi and will earn any forgone distributions by other users who fail to achieve eligibility - Ethena season 3 will run for 6 months until 23 Mar'25: 1) USDe on Morpho, Aave, Pendle and Curve LPs will receive 20x rewards, 2) sUSDe on Morpho, Aave and Curve LPs will receive 5x rewards, 3) USDe Pendle pools with 3 month maturity measured from the launch of the pool will receive 25x rewards, and 6 months maturity 30x rewards, 4) New sUSDe Pendle pools with USDe and 3 month maturity will receive 20x rewards, and 6 months maturity 25x rewards, 5) Users who participated in either season 1 or 2 will receive 10% boosted rewards

Ethereum - Vitalik says he hasn't sold any ETH since 2018, apart from supporting projects that he thinks are valuable or for charity - Ethereum Foundation released a list of projects that received $8.5m worth of grants in 2Q24 - Vitalik deposits 1.9k ETH / ~$5m into Aave Onchain - Pumpdotfun crosses $100m in revenue Macro - The SEC warns the FTX estate that it might oppose any attempts to pay creditors back with stablecoins or other digital assets Crypto Companies - Telegram held $400m in crypto in 2023, according to a Financial Times report - Metaplanet partners with SBI Group, offering Bitcoin trading, custody and management services Opinions / Analysis - Alleged Illuvium dev posted a reply to a Youtube video on the state of the project - Kairos Research on EigenDA's potential to revolutionize rollup economics - Brian Armstrong on the first AI to AI crypto transaction - Bankless on the four top projects in the Monad DeFi ecosystem (TayaSwap, Kintsu, Kuru, aPriori) - LongHash Ventures' shikhai says almost every founder he speaks to is planning token launches in 4Q24 (latest 1Q25) - Trissy's deep dive on Ethervista, a pumpdotfun on Ethereum

Daily Alpha (2 Sep'24) Presented by Menya Research Go to our highlights channel for easy access to all past Research Daily as well as alpha highlights from Ouroboros' Narratives chat. (Ref)links to farms: Corn, Elixir, Usual, Infinex, mETH, Ethena, Blast, Sanctum, Zircuit, Karak (code: pEZOP) Project Updates - Quilibrium 2.0 is ready for release and is expected to be deployed on 5 Sep'24, 4:00pm UTC - Yuga Labs CEO Greg Solano unveils The Workshop, a new 13-person internal team focused on rapidly developing and launching on-chain products for ApeChain, with a focus on content, tools, and "degen shit" to drive adoption. First products are expected in coming weeks - Cardano's Chang hard fork goes live, introducing decentralized governance, - Metaplex is deploying to Eclipse mainnet - World Liberty Financial, Trump's sons' project, introduces Corey Caplan (founder of Dolomite) as part of its financial advisory team - Wayfinder introduces three new features - Timeswap goes live on Berachain testnet - Sundial Mirage founder announces a Base tool that allows users to one-click KYC - Avalanche Foundation launches its infraBUIDL() Program to support critical infrastructure development for Avalanche L1s - HashKey Group announced its partnership with Kaia, formerly Klaytn Tokenomics - Fjord Foundry announces Redacted, a DeFi privacy solution offering shielded accounts and compliant on-chain data protection for trades, liquidity pools, and NFT transactions. It is simultaneously launching a token sale for RED, which is entitled to 50% of all fees collected - GammaSwap's LBP goes live, raising ~320 ETH so far with 2 hours left to the end of the LBP - SafeDAO proposal to introduce revenue via a fee-sharing model for native swaps in Safe{Wallet}. Forecast to generate $2.5m annually, fees collected would be used to buy SAFE tokens Incentives / Farms - ParagonsDAO introduces Prompt Points, allowing PDT stakers to farm PROMPT. Staking contract goes live on Base next week - Jupiter Perps changes: 1) Reduced borrow rates / hr from 0.01% to 0.008% for SOL, ETH and BTC, 2) reduced trade open / close fees from 0.1% to 0.06%, 3) introduction of dynamic price impact fee based on notional trade size - Elixir partners with EtherFi to launch an Elixir vault built by Veda, allowing users to earn 5x Elixir potions, 3x EtherFi points, and 3x Veda points on USDC, USDT and DAI deposits - Gearbox gives out retroactive GEAR rewards for users: 1) Who used Gearbox on Arbitrum and 2) PURE Margin Trading on mainnet - Ethena Season 2 ends on 2 Sep'24

M&A - Threshold which runs tBTC, proposes to merge with wBTC by minting 15% of Threshold's T token (worth $36.4m at the time of the proposal writing) and granting it to BitGo with an agreed vesting schedule - Alchemy has acquired Bware Labs to expand into Europe. No purchase price has been disclosed Raises - Bridge, a stablecoin-powered money movement platform started by ex-Coinbase and Square employees, raised $58m led by Sequoia, Ribbit, Index and Haun Ventures - Edge Matrix Chain, a multichain infrastructure project, raised $20m led by Polygon Ventures and Amber Group - Quai Network, a L1 network, raised a $5m strategic round from Cogitent Ventures, MH Ventures, TPC Ventures, Giga Chad Ventures and DexCheck Ventures - Peregrine Exploration, which is building the stablecoin protocol Level powered by restaked dollar tokens, raised a $3.6m round led by Polychain and Dragonfly - Time.fun, a project which allows users to tokenize their time, raised a $3m seed round led by Brevan Howard Digital - ParaFi Capital raises $120m from Theta Capital Management and Accolade Partners. Part of its strategy is to acquire GP stakes in other crypto funds and build a portfolio of 30-50 such stakes Macro / Regulatory - The House Financial Services Committee plans to look at DeFi, U.S. enforcement and "pig butchering" in a series of hearings next month - Trump posted a video saying he would unveil a plan to ensure the United States is the “crypto capital of the planet" and tagged World Liberty Financial, a DeFi project his sons have promoted - El Salvador’s Bukele believes the monetary experiment to make Bitcoin legal tender has had mixed results - Elon Musk and Tesla won the dismissal of a lawsuit which accused them of manipulating the price of DOGE Crypto Companies - Crypto.com is partnering with Standard Chartered to expand access to U.S. dollars, euros and United Arab Emirates dirhams Opinions / Analysis - QuilibriumOne on what comes after Quilibrium 2.0 - DefiSquared on Orderly Network and how it is mispriced - Keno's guide to GammaSwap's LBP - Nascent on why Web Proofs will drive crypto adoption - 0xGeeGee on Sanctum's CEX partnerships, BTCFi yield renaissance, Drift's BET catching up with Polymarket

Daily Alpha (30 Aug'24) Presented by Menya Research Go to our highlights channel for easy access to all past Research Daily as well as alpha highlights from Ouroboros' Narratives chat. (Ref)links to farms: Corn, Elixir, Usual, Infinex, mETH, Ethena, Blast, Sanctum, Zircuit, Karak (code: pEZOP) Product launches - Sanctum launches SOL LSTs in collaboration with Binance (BNSOL), Bybit (bbSOL) and BitGet (BGSOL) - Jito partners with Fragmetric to launch LRT fragSOL - Movement announces Dinero will be building its ETH LST moveETH - Frax Finance introduces Frax Name Services (FNS), a fork of ENS which burns FXS tokens instead - SingularityNET announced a partnership with BNB Chain to develop and promote decentralized storage solutions - ionet announced a partnership with FLockio to develop a Proof of AI consensus mechanism to validate DePIN nodes in decentralized compute networks Project Updates - Infinex now supports nineteen new assets - Drift's prediction markets product BET did $20m in a 24h volume, of which >95% came from the "Kamala winning popular vote" market - Puffer Finance roadmap update: UniFi AVS launch end of Aug'24, UniFi Rollup testnet in Sep'24, Puffer V2 and ETH withdrawals in early Q4, PUFI token generation event set for early Q4 - Router Chain integrates with Osmosis Zone, bridging Cosmos with Tron for the first time Tokenomics - deBridge Foundation's guide to DBR's upcoming LFG launch: Fixed price of $0.025 per DBR, 200m tokens (2% of supply) available. Participation limited to eligible addresses with $25k individual cap. 50% of tokens unlock at TGE, 50% after 6 months. 3m USDC + 100m DBR allocated for POL on Meteora. 24h participation window Incentives / Farms - Pendle launches a pool for Etherfi's eBTC with 26 Dec'24 expiry - Sturdy Finance now offers leverage on Usual's US0++ against USDC - Derive (formerly Lyra) partners with EtherFi to launch structured products on weETH Onchain - Bitcoin whale who sent $467m worth of BTC to Binance in Jul'24 has withdrawn (presumably bought) $60m of BTC, and now holds $451m of BTC - Hyperliquid whale 2TheMoon has started buying BTC again

Incentives / Farms - MNT Pools go live on Pendle. YT-MNT and LP-MNT will accrue MNT Power (MP) on Mantle Rewards Station, which can be converted to COOK later (mETH Protocol's governance token) - Etherfi's weETHs markets go live on Venus Protocol - Mezo launches a liquid-staked Bitcoin token stBTC, powered by Acre, enabling users to earn returns on their Bitcoin - Sky will boost token rewards for early joiners - AO now accepts DAI deposits. Rewards start on 4 Sep, 3:00pm UTC - Global PYUSD borrow caps have been raised to 20m on Kamino, while Ethena markets PYUSD borrow caps have been raised to 10m - Affine DeFi introduces ultraETHs (an L2 native Symbiotic LRT on Linea), allowing users to earn 7.2x ultraPoints, Symbiotic Points and Linea LXP-L - Renzo's Amore governance proposal to distribute 5% of REZ supply over 4 months, 400m REZ as retroactive rewards to ezPoints recipients and 100m REZ for liquidity incentives for the period of 26 Jul'24 to Nov'24 has passed - Pendle launches sfPEPE markets (Sophon deposited PEPE which earns Sophon Points) with a 26 Sep'24 expiry Raises - Lemniscap raises $70m for its third fund, anchored by Accolade Partners. Primary focus areas including zk infrastructure, consumer apps, Bitcoin ecosystem, security and DePIN Macro - Hong Kong's Markets Authority opened up its tokenization 'Ensemble sandbox'. HSBC and Global Shipping Business Network have already begun testing proof of concepts and HashKey Group plans to join the sandbox Crypto Companies - Brave Software (creator of Brave browser and Brave wallet) lays off 15% of its workforce - Haru Invest (a Korean crypto company) CEO was attacked with a knife while attending trial Opinions / Analysis - AzFlin on the hierarchy of yields - Dovey Wan's thoughts on Solana, how it was initially a toxic ecosystem during SBF's rule, and how it has changed significantly for the better - EigenLayer's Sreeram Kannan on why build consumer crypto apps - Andre Cronje on "why DeFi"

Daily Alpha (29 Aug'24) Presented by Menya Research Go to our highlights channel for easy access to all past Research Daily as well as alpha highlights from Ouroboros' Narratives chat. (Ref)links to farms: Corn, Elixir, Usual, Infinex, mETH, Ethena, Blast, Sanctum, Zircuit, Karak (code: pEZOP) Project Updates - BNB Chain launches official cross-chain bridge with Celer, deBridge and Stargate - Telegram's Pavel Durov was released from custody, but must remain in France and needs to periodically check in with the police - TON Blockchain stopped producing blocks on 28 Aug'24, 7:19pm UTC - Renzo's REZ is now bridgeable to Solana via Wormhole's NTT framework - Stacks' Nakamoto upgrade has begun - Starknet's 0.13.2 upgrade goes live, enabling parallel execution and block packing, and should see confirmation times fall from 10-80s to 2s - Arbitrum shares its 1H24 progress update - Lyra rebrands to Derive Product Launches - Kaia, a L1 blockchain merged from Kakao's Klaytn and LINE's Finschia, launches its mainnet and calls for builders to create mini dApps - Pirate Nation is adding a second chained dubbed Boss Chain, after its first Arbitrum L3 chain Apex reached capacity - Native BTC / swBTC (Swell) swaps will go live on Garden Finance on 30 Aug'24 - Jupiter Spot has integrated Pumpdotfun and Moonshotdotcc (by Dexscreener), allowing users to trade any new token on launch - MACHI (Machi Big Brother's token) will be launched on Blast and powered by Baseline Markets - Magic Eden launches Mint Terminal, which aggregates all NFT minting platforms and shows trending mints in one place. The product is live on Ethereum, Polygon and Base Tokenomics - Hamster Kombat (a telegram game) will airdrop its token on 26 Sep'24. 60% of its token airdrop will be to its players - Merkle Trade (Perp Dex built on Aptos) is launching its LBA on 29 Aug'24, 12:00pm UTC Rugs / Exploits - WazirX asks Singapore court for 6 months to restructure liabilities as CoinSwitch (a competitor with deposited assets) weighs legal action - Kylian Mbappe's X account was hacked to promote the token MBAPPE

Raises - Solayer, a restaking protocol on Solana, raised a $12m round led by Polychain - Solana Optimistic Network (SOON), raised a co-builders round from several individuals including Solana's Lily Liu and Anatoly and has no involvement from VCs - Space and Time, which is building a verifiable compute layer that integrates AI with blockchain technology, raised a $20m Series A round led by Framework Ventures, Lightspeed Faction, Arrington Capital and Hive Mind - Gameplay Galaxy, a web3 game development studio, raised a $11.2m seed extension round led by Blockchain Capital and Merit Circle - Sorella Labs, a project building tools to solve Ethereum’s MEV problem at the application layer, raised a $7.5m seed round led by Paradigm - Xapo Bank and Hilbert Capital, is planning to launch a BTC-denominated hedge fund with an initial capital of $200m in Sep'24. The fund will be available to corporates, businesses and professional investors Macro / Regulatory - Judge orders Martin Shkreli to turn over all copies of unreleased Wu-Tang Clan album - Nasdaq seeks SEC approval to list and trade bitcoin index options - Donald Trump launches new NFT collection called Trump Trading Cards - New Zealand to put OECD crypto tax framework in place; crypto-asset service providers will have to collect information on users' transactions starting 1 Apr'26 Crypto Companies - Bitwise Bitcoin ETF to acquire the assets from Osprey Bitcoin Trust - Celsius has distributed more than $2.53b (out of $2.73b) of crypto and cash to 251k creditors (out of 372k creditors) Opinions / Analysis - Presto Research on the state of the secondary OTC market

Daily Alpha (28 Aug'24) Presented by Menya Research Go to our highlights channel for easy access to all past Research Daily as well as alpha highlights from Ouroboros' Narratives chat. (Ref)links to farms: Corn, Elixir, Usual, Infinex, mETH, Ethena, Blast, Sanctum, Zircuit, Karak (code: pEZOP) Product Launches - MakerDAO rebrands to Sky, with SKY replacing MKR (at a 24,000 SKY:1 MKR ratio) and USDS replacing DAI. While there was debate about Sam MacPherson's (Spark Protocol's CEO) comment about USDS having a freeze function, this was a topic that was previously discussed in an older Rune forum post - Story Protocol public testnet, Illiad, goes live and launches commemorative IP Asset mint - Soneium's Minato testnet goes live and introduces Spark, an incubation program for the chain - KOR Protocol launched a new streaming service called KOR Player, which enables users to remix music using a suite of tools including a “sound library” and authentication service - Legion emerges from stealth and plans to revive ICOs using a merit-based scoring system to determine access to investment opportunities Project Updates - TON Blockchain stopped producing blocks for more than 7 hours, but has since restarted producing blocks - Polynomial integrates sDAI on its chain, allowing users to earn native yield, staking points and fees from Polynomial based apps - Robinhood Wallet added support for Solana, allowing users to self-custody Solana tokens - Ethereum Foundation's Josh Stark shares EF's spending in 2022 and 2023 in response to calls for transparency - WINR Protocol will launch WINR Chain and Protocol v2 on 2 Sep'24, featuring JustBet's debut, a 265k $ARB competition, and new functions like auto-bet and wallet bridging - Centrifuge launches an institutional RWA lending market on Base, partnering with Morpho and using tokenized Treasury bills as collateral. The market allows borrowing against Anemoy's LTF, Midas' mTBILL, and Hashnote's USYC. It's the first permissioned lending market using Coinbase Verifications for KYC Tokenomics / Incentives / Farms - GammaSwap announces expanded GS token airdrop, increasing allocation from 2% to 3% of total supply. Nearly 1200 wallets are eligible from Beta Mainnet usage. Distribution curve flattened to reduce concentration, with 3000 GS floor. Claiming starts 9 Sep'24, distributed over 8 weeks without vesting. Additional 0.2% allocated to pufETH holders. Average airdrop ~213K GS for top 200 wallets, ~42K for overall average - Maple Finance governance proposal MP-010 to launch SYRUP token in Q4 at a conversion ratio of 1 MPL:100 SYRUP, and activate staking. Vote to begin on 2 Sep'24 - Etherfi partners with MEV Capital to launch a Usual Stable Vault where depositors can earn 3x Usual Pills, 3x Etherfi points and 3x Veda points - B² Network announced a strategic partnership with Aptos Foundation and Echo Protocol, offering a 10% APY for BTC bridged from the B² Network to Echo Protocol on Aptos. The 2,000 BTC cap has been reached and higher caps is on the way Onchain / Markets - FTX (cold storage #2) sent over $46m worth of mSOL to Coinbase Prime - Whale on Hyperliquid has a $66m BTC long with uPNL of -$4m - Around $330m of liquidations occurred in the last 24h, of which $105m was for ETH and $100m was for BTC

Onchain - Stablecoin market hits all-time high at $168.1b - PayPal's PYUSD hits $1b in supply, with majority of the supply on Solana Raises - Chainbound, a crypto R&D firm developing Bolt (which is developing sub-second transaction confirmation), raised a $4.6m seed round led by Cyber Fund Macro / Regulatory - Abra settles a Jul'20 SEC case which charged it for the unregistered sale of crypto asset securities in Abra Earn - Investment bank TD Cowen believes there is an increased risk of political gridlock regarding major crypto bills, and their progress could stall next year - Russia is close to starting trials of crypto exchanges and using crypto for payments, according to Bloomberg Markets - Binance will list EURI for spot trading on 28 Aug'24, 10:00am UTC Crypto Companies - Semler Scientific has purchased 83 BTC for $5m, bringing its total holdings to 1,012 BTC Opinions / Analysis - Kairos Research deep dive on Bitcoin LRTs - Zaheer on BTC's seasonality in September - 0xLouisT on why VC hedging is largely a myth - Crypto Linn tl;dr on Ignition's FBTC

Daily Alpha (27 Aug'24) Presented by Menya Research Go to our highlights channel for easy access to all past Research Daily as well as alpha highlights from Ouroboros' Narratives chat. (Ref)links to farms: Corn, Elixir, Usual, Infinex, mETH, Ethena, Blast, Sanctum, Zircuit, Karak (code: pEZOP) Governance Proposals - Aave temp check proposal to build and deploy GHO Stability Module (GSM) to support reserve allocation and management features enabling third party integrations, specifically supporting integration into the BlackRock BUIDL infrastructure. - MakerDAO governance proposal to upgrade its oracle for ETH, wstETH, rETH and weETH markets to Aggor, an oracle aggregator and to deactivate the wBTC / BTC peg kill switch following the decision to stop new borrowings against wBTC in SparkLend - Curve proposal to grant 21m CRV to Swiss Stake AG (Mich's company) goes live for voting - Morpho Association posted a forum post to discuss enabling transferability, and wants the community to offer proposals which will enhance network growth and ownership. MORPHO was first deployed in 15 Jul'22 as a non-transferable token Project Updates - EigenLayer introduces permissionless ERC-20 token support, allowing any ERC-20 token to be used as a restakable asset - Quilibrium's 2.0 upgrade is scheduled to roll out this week - Co-founder of Soneium to speak at an event labeled "Special Announcement" at WebX on 28 Aug'24, 1:35am UTC, right after talks from Japan's Prime Minister and Minister of Economy, Trade and Industry - French prosecutors could detain Telegram's Pavel Durov for up to 96 hours (up to 28 Aug'24) - OP chains can now easily deploy Bridged USDC Standard using the canonical OP Stack bridge. Conduit will be rolling out Bridged USDC as a one-click integration on its marketplace soon - Orderly Network staking and airdrop claims go live Incentives / Farms - Silo Finance added 4x Mellow LRTs (pzETH, amphrETH, re7LRT, rstETH) to its Ethereum market, allowing users to earn 2x Mellow points and 1x Symbiotic points - Kamino raises its PYUSD borrowing caps by 100m and PYUSD borrow is available against SOL collateral. Separately, marginfi announces a 60m / 15m increase in lending / borrowing caps for PYUSD. Weekly incentives for PYUSD are being emitted at these markets - Rumpel introduces its point tokenization product, allowing users to wrap each earned point into a token for trading. The project is launching in mid Sep'24 and is backed by Dragonfly & Variant - Bubbly Finance goes live on mainnet, allowing users to trade EIGEN / Hyperliquid

Macro / Regulatory - Jerome Powell says the "time has come" for Fed cuts - RFK Jr. withdrew from the presidential race and endorsed Donald Trump - A judge ruled that Kraken must face an SEC lawsuit accusing it of operating an unregistered securities exchange Crypto Companies - US trustee challenges FTX reorganization plan, main concerns include: 1) too much legal protection for estate administrators and advisers, 2) unequal treatment of creditors based on claim size and 3) handling of costs related to a data breach by FTX's service provider - Tether has abandoned plans to create its own blockchain - JP Morgan reduces its miners price targets and says the market is worth $74b Opinions / Analysis - 0xGeeGee on: 1) ASTR and Soneium, 2) the wBTC trade, 3) BTC staking and restaking, 4) M^0 launch, and 5) g8keep - Brody's update on the Bittensor ecosystem - The Giver on how altcoins could outperform - 0xsamoyed on RWA growth and challenge - Puff Intern covers Puff's final chapter featuring: 1) new PUFF token distribution system using points-based wallet reputation to determine drop allocations, favoring long-term holders and active participants, 2) unclaimed tokens from previous drops to be burned, 3) new tokenomics include 33% supply lock/burn and potential ACID integration, 4) community members categorized into tiers based on participation, with drop percentages ranging from 2-6%

Daily Alpha (26 Aug'24) Presented by Menya Research Go to our highlights channel for easy access to all past Research Daily as well as alpha highlights from Ouroboros' Narratives chat. (Ref)links to farms: Corn, Elixir, Usual, Infinex, mETH, Ethena, Blast, Sanctum, Zircuit, Karak (code: pEZOP) Debates - The Ethereum Foundation sent 35k ETH / $94m to Kraken, spurring debate (from eric.eth) on how the foundation should be more transparent. Aya Miyaguchi, an executive director at the foundation, replied saying that 1) the send is part of the foundation's treasury management activities, 2) EF's annual budget is ~$100m / year (largely grant and salaries), 3) EF was advised not to do treasury activities and as a result are unable to share their plans, 4) the transaction does not equate to a sale, and 5) there will be planned and gradual sales in the future - Steady Lads podcast featuring Infinex's Kain (also Synthetix founder) discussing how Vitalik is anti-DeFi resulting in Millie questioning why Vitalik would think this way given much of ETH's value is being used as collateral in DeFi. Vitalik responded by saying he wants to see apps that are 1) useful in a sustainable way, and 2) don't sacrifice on the principles (permissionlessness, decentralization, etc). Further debate on if Aave actually provides loans (as defined by a normie) - EigenLayer's Sreeram podcast on Bell Curve discussing the recent airdrop controversy, growing pains at EigenLayer, EigenLayer's relationship with EF including adviserships, the EigenLayer roadmap and broader industry observations Project Updates - Parel Durov, founder and CEO of Telegram, was arrested at the Bourget airport outside Paris on 24 Aug'24 for a lack of moderation on Telegram, resulting in TON declining by close to 20%. In response, TON said the TON community remains strong and fully operational and stands firmly by Pavel - Hermes v2 mainnet goes live, featuring omnichain swapping, cross-chain gauges, an upgraded ve(3,3) model, and the ability to burn, stake, earn and direct emissions - Jupiter introduces Jupiter Lock, a free feature allowing any project to release their tokens over time - Story teases an announcement on 27 Aug'24 - Soneium, the Sony X Startale chain, teases an announcement on 28 Aug'24. Velodrome replied to the post, echoing the same date - 3Base acquires Nautilus Chain - CoW proposal for Wintermute to improve liquidity and support listings on key exchanges passed Tokenomics - Orderly Network announces its TGE on 26 Aug'24, 8:00am UTC, CEX listings at 10:00am UTC and VALOR emissions, trading, and market-making rewards to start at 27 Aug'24 12:00am UTC - Zero1 Labs tokenomics update: new vesting schedule will feature no tokens added beyond 1.2-1.5% over the next 18 months for the original cohort of investors. In 4Q24, there will be an upcoming vote for an ongoing token burn to reduce supply for additionally vested tokens. Updates for ZCP, new launches, and Cypher launch will also be slated for 1Q25 Incentives / Farms - Gearbox introduces Multicollateral Loans, allowing users to borrow against multiple assets and use their collateral for DeFi - Lendle enables FBTC borrowing - Mitosis Expedition Epoch 1 for ezETH starts on 26 Aug'24, 3:00pm UTC with a 3.67k ezETH deposit cap and a 1.7x epoch boost, allowing users to earn 2x ezPoints boost

Incentives / Farms - Babylon opened deposits and reached its 1k BTC ($61m) staking cap in 3+ hours. Results: Solv Protocol (250 BTC), Bedrock (230.3 BTC), Lorenzo Protocol (129.4 BTC), PumpBTC (118.4 BTC), pSTAKE Finance (10 BTC). AzFlin's review of how the launch went - Corn announced its launch on a livestream. Key details include: 1) Launching a points (Kernels) system, users of partner protocols have a headstart # of points and 2) Users can deposit wBTC, weETH, DAI / USDC / sDAI, rsETH and USDe to start earning points - Binance allows users to stake Ethena's USDe in its Simple Yield Ethena pool for 50% Sats points boost and $84k worth of ENA over 7 days - Origami integrates with Usual, allowing users to leverage USD0++ deposits on Morpho 5x, enabling 15x boosted pills and offering users 10x Origami points on top - weETHs (Etherfi's Symbiotic LRT) / wstETH vault goes live on Fluid allowing users to earn 1x Symbiotic points, 3.5x Etherfi points and 3x Veda points (pre-leverage) - Ignition launches Sparkle Campaign for early adopters from 22 Aug'24 to 22 Sep'24. Rewards include a share of 5m Sparks tokens and Early Igniter NFTs. Users need to maintain >=0.001 FBTC daily average to be eligible. Additional tickets earned for using $FBTC on eligible protocols, capped at 10 per address. Early Igniter NFTs may qualify for future rewards. Bonus Sparks to be credited within 30 days after event ends Onchain - Tron DAO reserve removed $750m worth of BTC backing USDD, leaving the stablecoin ($744m supply) being entirely backed by TRX ($1.7b deposited). Justin Sun said that the previous 300%+ collateralization was not very efficient Macro / Regulatory - Donald Trump endorses "The DeFiant Ones", launched by his sons, Donald Trump Jr and Eric Trump - Binance's CZ has been released from prison and is now at a halfway house - The SEC pushes back against Hex founder Richard Heart's efforts to dismiss case - China announced the authorities extradited a suspect who allegedly led a $14b crypto pyramid scheme from Thailand Crypto Companies - Sony Group’s joint blockchain venture with Startale announced the development of an ETH L2, Soneium which will focus on mainstream adoption - Singapore's DBS Bank successfully piloted a blockchain-based solution for streamlining government grant disbursements - Grayscale announced the creation of Grayscale Avalanche Trust, a single-asset crypto investment fund Markets - Binance launches USD-margined perps for POPCAT and SUN and announced support for VIDT (to go live on 23 Aug'24, 930am UTC - Coinbase International adds perps support for RNDR, SAGA, T (Threshold). Trading will go live on 29 Aug'24, 930am UTC Opinions / Analysis - ParaFi's analysis of Ethereum and ETH L2s post EIP-4884. Conclusion: L2 usage has soared but value accrual to ETH is unclear - Vitalik on why the fundamentals of Ethereum are crazy strong right now - PZ on Grass' bull case - K👁Z's deep dive on Swell's swBTC

Daily Alpha (23 Aug'24) Presented by Menya Research Go to our highlights channel for easy access to all past Research Daily as well as alpha highlights from Ouroboros' Narratives chat. (Ref)links to farms: Corn, Elixir, Usual, Infinex, mETH, Ethena, Blast, Sanctum, Zircuit, Karak (code: pEZOP) Product Launches - Pumpdotfun introduces Stages, allowing devs to invite other people on stage during live streams - PartyDAO introduces Tokens v2 built on Base, allowing users to launch tokens and crowdfund ETH to LP - Rabby teases gas fee payments with USDC / USDT - UPTOS has launched UPTOS Pump on Aptos, a pumpdotfun competitor - Polynomial launches Trade 2.0, offering leveraged trading on BTC, ETH and SOL. Features include cross margin, gasless trading, and improved limit orders for ETH, BTC, and SOL markets. 1m trading points are distributed to users daily, proportionally based on trading volume, OI rebalancing, or a yet to be announced factor - NEAR Protocol launches Nightshade 2.0, a major upgrade to its sharding design. Key features include stateless validation, improved single-shard performance, and capacity for more shards. NEAR currently has 6 shards, targeting 10 by end of 2024 - Euler Labs introduces ERC-7726, a standardised oracle API for protocols to easily integrate multiple oracle data sources. Euler v2 will integrate ERC-7726 - Conduit announced it is launching a marketplace where rollup teams can buy integrations for their chains Project Updates - Trader Joe outlines plans to evolve its DEX, introducing new protocols including a Central Limit Order Book (Bid Barn), a Bonding Curve AMM / pumpdotfun competitor (Token Mill), and an aggregator, aiming to create a comprehensive one-stop shop trading experience to rival centralized exchanges - Aethir releases its 6-month roadmap focusing on enterprise onboarding, expanded services in cloud gaming and AI, migration to Sophon chain, governance launch, and ecosystem support through Eco-fund and incubator programs - MetaLeX proposes creating a BORG (legally and cryptographically restricted entity) for Lido's Alliance Program which would ensure the DAO complies with international laws and maintaining community control - Colombia’s regulatory agency accused Worldcoin of violating the personal data protection regime - Kresko is shutting down as its founder is facing worsening health challenges. Some members of the team is forking the protocol under a new name Kopio. The protocol asks users to withdraw / migrate assets by 10 Sep'24 Tokenomics - The Magic Eden Foundation announced its token ME, which will be adopted by Magic Eden and enable cross-chain trading. Claim will be via the Magic Eden Wallet and incentives will live in the wallet. No token launch date has been announced - MakerDAO's Endgame introduces NewStable (NST) and NewGovToken (NGT) as upgraded versions of DAI and MKR, while maintaining the existing tokens indefinitely. The optional upgrade allows 1 DAI to convert to 1 NST and 1 MKR to 24,000 NGT, with the ability to revert back anytime Raises - Arch, a crypto-backed lending project, raised a $5m equity seed round co-led by Morgan Creek Digital and Castle Island Ventures. Galaxy has also provided a scalable $70m loan facility - SatLayer, a Bitcoin restaking platform, raised a $8m pre-seed round led by Hack VC and Castle Island Ventures - Stork Network, a web3 oracle provider, raised a $4.7m seed round led by Lightspeed Faction and Lattice - Zellic acquires Paradigm-backed smart contract audit platform Code4rena. Code4rena's CEO said the company will continue to operate independently - Binance Labs invests in Aggregata (a platform for AI data, models and computing), Opinion Labs (a dynamic opinion and continuous prediction markets), Sidekick (a hub for social, games and beyond) and vooi (a cross-chain perp DEX aggregator)

Raises - Story Protocol raised $80m in funding in a Series B round led by a16z - BSX, a liquidity layer for onchain derivatives and capital markets on Base, raised a total of $6.2m ($4m seed, $2.2m pre-seed) led by Blockchain Capital - g8keep, a platform to deploy, discover and trade tokens, raised $1.25m from Robot Ventures, the Base Ecosystem Fund, Echo syndicate groups and angels Macro - Brian Nelson, a policy advisor to Kamala Harris' campaign, said she will back measures to help grow digital assets - Wyoming Governor Mark Gordon says Wyoming stablecoin may launch in 1Q25 Regulatory - CoinDesk reports US-based EigenLayer employees are claiming airdrops despite being restricted via US geofences by airdropping protocols - China classified the use of virtual assets to conceal illicit funds as a method of money laundering Crypto Companies - Binance CEO Richard Teng said in an interview: 1) Binance is not considering an IPO or fundraising given how profitable it is, 2) CZ is no longer part of Binance's day-to-day operations, 3) Binance has no interest in expanding into the US, 4) Binance is hiring 1,000 people this year with many hires earmarked for compliance - A class action lawsuit was filed against Binance and CZ by three crypto investors who allege the exchange failed block their stolen assets from being transferred - Bitcoin miner Bitfarms to acquire Stronghold Digital in $175m equity and debt deal - Tether plans to launch a UAE dirham-pegged stablecoin Opinions / Analysis - Franklin Templeton Digital Assets report on ETH restaking and EigenLayer - Aylo's overview on Kamino - Mr All Green's Grass points valuation

Daily Alpha (22 Aug'24) Presented by Menya Research Go to our highlights channel for easy access to all past Research Daily as well as alpha highlights from Ouroboros' Narratives chat. (Ref)links to farms: Elixir, Usual, Infinex, mETH, Ethena, Blast, Sanctum, Zircuit, Karak (code: pEZOP) Project Updates - WIF is now available on Base via LayerZero's OFT standard - DWF Labs announces that it is partnering with SunPump - Brazil's securities regulator has approved a Solana ETF managed by Hashdex and BTG Pactual - Stepn partners with G-SHOCK to release STEPN GO Genesis Sneakers - Silo Protocol announced it will be launching on Sonic L1, with deployment planned for 4Q24 - Aave v3 is launching on zkSync Era Product Launches - Newly announced SpotPurps (the first application on Hyperliquid EVM) will allow users to long / short any spot asset with up to 1,000x leverage - HypurrScan introduces itself as a HyperLiquid L1 explorer which allows users to track auction prices, TWAPs, transaction history and token-specific data - BNB Chain introduces fourdotmeme, a pumpdotfun on BNB Tokenomics - Shuffle's Noah introduces the first pass of SHFL lottery which will see 15% of Shuffle revenues used to fund the prize pool. Users can participate by staking SHFL. This is on top of the 30% NGR buyback and burn, which Noah said will most likely be increased - Puffer finance introduces its roadmap. Puffer v2, TGE and withdrawals will be in Q4 - SunDog starts its 30 day buyback and burn campaign, where it will use all profit from trading fees to buyback and burn SUNDOG Incentives / Farms - Forgotten Runes launches Donut Points System, offering both passive and active earning methods. Passive earning includes holding FRWC NFTs, minting Wizards, and participating in DAO activities. Active earning involves daily claims, playing Runiverse Game, and completing quests - mETH Protocol's Season 1 mid-season review: TVL up 22% to $1.31b, 28k+ participants. Mantle Rewards locks 123m+ MNT. Protocols grow from 23 to 35, including Bybit and Binance Web3. Top protocols: Karak, Agni Finance, INIT Capital. Upcoming: cmETH liquid restaking token launch - Swell's swBTC goes live on Morpho Rugs / Exploits - McDonald's socials (instagram and X) were compromised to promote GRIMACE, a pumpdotfun memecoin - Crypto whale loses $55m DAI to phishing attack Onchain - Golem's multisig sends 4k ETH ($10.4m) to CEXs. The multisig has $60m of ETH left

Raises - zkMe, a decentralized identity startup which uses zero knowledge tech, raised a $4m seed round led by Multicoin Capital - YeagerAI, the dev team behind GenLayer, an AI powered blockchain which enables smart contracts to use AI, raised a $7.5m seed round led by North Island VC - Sorella Labs, a startup building tools at solving Ethereum's MEV issue, raised a $7.5m seed round led by Paradigm Macro / Regulatory - Hong Kong lawmaker calls for legal framework to regulate DAOs following Mantra's court case - Kamala Harris backs Biden's 44.6% capital gains tax proposal which also includes a 25% tax on unrealized gains for high-net-worth individuals - Mango Markets DAO votes on settlement proposal with SEC which will see the entity pay the SEC treasury $223k in fines, destroy its holdings of MNGO tokens, and seek delisting from trading platforms. This will allow it the entity to avoid litigation without admitting or denying any wrongdoing Crypto Companies - State Street has selected the Swiss fintech firm Taurus to develop its digital asset custody and tokenization services - Sygnum Bank issued the industry's first Syndicated BTC-backed $50M loan to Ledn Opinions / Analysis - Knower on how the transmission of memes have evolved over time - Evan Van Ness' ETH FUD thread. Evanss6's reply on how it is unclear if EF relates to users or cares about price / value accrual and how marketing for Ethereum is weak - Flip Research on the bull and bear cases for ETH - James Seyffart's flowchart on which stage the Solana ETF application failed - Proph3t's review of MetaDAO's proposed release of Futardio (a pumpfun fork)