The Dynamo DeFi newsletter covers trends, on-chain analysis and tools in crypto each week. Be sure to also check out my YouTube for more regular content.
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📈Trends and Narratives
Is Telegram’s TON a Super-Catalyst for Crypto Adoption?
Over 10% of Earth’s population uses the Telegram messaging app at least once a month - currently, they have 900 million Monthly Active Users.
Telegram initially raised billions for a blockchain project back in 2018, but it was shut down by the SEC, marked as an offering of unregistered securities.
A few years later, a group of developers and community members restarted the layer 1, and that chain is called The Open Network (TON). TON has grown to be one of the largest chains in crypto, with the TON token breaking into the top 10 largest crypto market caps, and top 20 in terms of TVL.
TON’s TVL has grown 85% in the last 30 days, and nearly 35% in the last week alone.
TON’s potential growth trajectory is massive - the community has built easy tooling for the construction of mini-apps within Telegram, and many projects are building apps for Telegram’s millions of users to manage finances, trade, and participate in DeFi directly from the Telegram app.
Telegram and one of the most popular Telegram Wallets are ranked as the top 2 apps On Google Play, above Instagram and TikTok.
One of TON’s largest mini-apps is called Notcoin, a tap-to-earn game that has amassed 1.7M followers on X, and is ranked #60 on Coingecko with a $1.9B market cap.
Another extremely popular tap-to-earn game on TON is called Hamster Kombat, a game where you run a crypto exchange and level up your hamster. It may sound simple, but the app’s X account has nearly 7M followers, and even claims to have over 100M users.
How to Capitalize
I created a helpful video for DeFi & Airdrop Strategies within the TON ecosystem: start here.
Telegram has an app marketplace, watch for new trending applications & services. If you pay attention, you may just catch the next big thing coming out of the TON ecosystem.
Keep an eye out for my TON Ecosystem Deep Dive article. It’ll be out very soon.
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🔢On-Chain Analysis
Blast Hits TVL All-Time High
The layer 2 hit $2.3B in TVL before pulling back to $2.1B. Stablecoin market cap on Blast is also hovering at previous ATHs made in late-May.
Overall TVL is driven by significant growth in several protocols, including Thruster DEX and Pac Finance Lending.
Blast has a token airdrop coming June 26th.
🚜Farm of the Week
SOL/USDC on Orca
Orca V1 has a SOL/USDC liquidity pool with over $6M in TVL that is currently earning ~100% APY.
How it Works
Supply SOL & USDC to earn 100% APY at current yields.
Simply click Deposit, select ‘Full Range’ for a hands-off experience or set your own trading ranges with Custom, and select the amount of SOL & USDC.
Risks
Impermanent Loss
Here’s the difference between APY and APR. Hint; APY takes compounding into account, and APR does not.
More on Solana
I just posted the best Solana DeFi & Airdrop Strategies for June. Check it out here:
🛠️Tool Spotlight
Never Miss an NFT Mint with Mintify
Mintify is an NFT orderbook with over 130,000 users.
The platform offers deep analytics, trading tournaments, and covers nearly every chain.
Their Upcoming Drops page displays hundreds of upcoming NFT mints including Ordinals, the most popular chains, the most popular mints, and Free Mints only.
You can also filter by category if you’re looking for a specific type of NFT (think art, games, music, utility, etc.)
📅Key Events This Week
Macro Events
📊US CPI - June 12th
📊Feds fund rate - June 12th
📊FOMC economic projections - June 12th
📊FOMC press conference - June 12th
📊US PPI - June 13th
📊Treasury sec. Yellen speaks - June 13th
Token Unlocks
🔓 WOO (1.11%) - June 10th
🔓 DYDX (0.55%) - June 11th
🔓 APT (2.58%) - June 12th
🔓 IMX (1.72%) - June 14th
🔓 PERP (0.90%) - June 14th
🔓 CYBER (3.96%) - June 14th
🔓 STRK (4.92%) - June 15th
🔓 ARB (3.19%) - June 15th
🔓 APE (1.04%) - June 15th
Launches & Updates
Note that these launches are mostly unvetted by the Dynamo DeFi team and this isn’t an endorsement of any of them.
🚀 Polyhedra staking launch - June 10th (Source)
🚀 Metis LST proposal vote - June 10th (Source)
🚀 MATAR token burn - June 10th (Source)
🚀 Final Manta NFT burn - June 11th (Source)
🚀 Tourbillon metahorse game launch - June 12th (Source)
🚀 Galieo RWAs marketplace launch - June 14th (Source)
⚡Favorite Resources
If you want to dive deeper, here are some of my favorite resources:
🚀 RocketX: The 1-stop-shop to get the best rates for on-chain & cross-chain swaps.
🛡️ Ledger: The smartest way to secure your crypto. Buy & sell crypto with full control over your assets.
🔓 TokenUnlocks: Track token unlocks and make better investment decisions. Use my code DDNM5 for 5% off Pro Plans.
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Until next time,
Dynamo DeFi
