Happy Tuesday friends! Lots of stuff going on!
Let’s dive in!
As always… stats/alerts/etc at top and tweets/news/links/videos/etc at bottom… and all tweets are hyperlinked so just click on them to pull them up on Twitter!
Market Update
Crypto (from @CryptoBubbles):
Gold: $2509.70
Oil (WTI): $79.88
US 10Y Treasury: 3.879%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
One of the greatest strengths of @vertex_protocol is its robust cross-chain liquidity based on the @EdgeLayer system…
Basically, @EdgeLayer or ‘Edge’ is a liquidity architecture or ‘Synchronous Orderbook Technology’ that the Vertex team created…
It is currently powering @vertex_protocol, @tradeonblitz, and will be powering several similar additional iterations soon (on new chains!)…
The success of this system is leading to new ATH’s in perps volume - and $VRTX-stakers are benefiting, as this means more ‘RealYield’ paid out in $USDC!
Vertex is our Official Sponsor so make sure to access their 50+ perps and spot-markets + the above-noted yield opportunities now at app.vertexprotocol.com!
Biggest TVL Movers + Else
Chains are mixed today. Top 25 chains up at least 10% on the weekly include Base (#6), Sui (#13), and Aptos (#20).
Protocols are also mixed today. Top 150 protocols up at least 20% on the weekly include NAVI Protocol (#74), Amnis Finance (#120), Colend Protocol (#128), Superstate (#131), Scallop Lend (#135), and Cetus (#148).
Here’s The Top 12 Fastest-Growing Chains By TVL On The Weekly With At Least $1M TVL (from @DefiLlama):
Here’s The Top 12 Fastest-Growing Protocols By TVL On The Weekly With At Least $1M TVL (from @DefiLlama):
Here’s The Top 12 Entities By 24 Hour Revenue Generation (from @DefiLlama):
Bitcoin Fear/Greed Index:
(from @BitcoinFear)
New Projects
(note: this includes new projects we find through combing Twitter each day, and we also include or re-include every newly launched protocol added by @DefiLlama that has at least some TVL or is followed by at least some of our mutuals - hence disclaimer: these are not pre-vetted by us so make sure to DYOR!)
-New project called @rebalancefin. Twitter bio states “AI-powered protocol for higher yields in the $10T DeFi and RWA market. Maximize returns with minimal risk through automated fund distribution. Audited by Hacken”. Followed by 1 of our mutuals.
-New lending protocol on Scroll called @LoreFinance. Twitter bio states “• Decentralized Lending Market on @Scroll_ZKP • An official @Cod3xOrg Chapter”. Followed by 1 of our mutuals. h/t @0xBebis_:
-Something new called @twilightlayer. Twitter bio states “DePIN privacy layer for the Internet”. Followed by 2 of our mutuals. h/t @AresLabs_xyz:
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama ($1M+ TVL only, single-exposure, no-IL only) - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)
Security Alerts
-No security alerts today.
Important News And Analysis
(key news, twitter threads, articles, videos, etc from last 24 hours)
-Inflation data coming out the next two days and bond market still pricing in expectation of at least a 25 bps interest rate cut in September, h/t @DaanCrypto:
-@CurveFinance celebrated its fourth birthday today, with resulting reduction in emissions, h/t @sidmvenkat:
-Consumer inflation expectations have been dropping significantly:
-Uniswap frontend revenues have now exceeded $50M (you’ll remember Uniswap started charging an extra fee for those using it via its normal url frontend but do not charge this fee for those only using it purely on-chain such as through aggregators):
-App alfa + interesting additions in comment section, h/t @alpha_pls:
-Additional headlines c/o @0xSalazar:
-Additional headlines c/o @blocmatesnews:
-$SUI seeing significant stablecoin inflows and still the recipient of much discussion on the TL:
-Good evenhanded thread on Sui, from @0xMughal:
-Interesting macro chart re: the European common currency union:
-New article from @CryptoHayes:
-Wise words from @Fiskantes:
-New @TaikiMaeda2 video featuring @hedgedhog7:
-New macro video featuring discussion between @1MarkMoss and @LukeGromen:
-New crypto news overview from @coinbureau:
-Parting wisdom c/o @mrjasonchoi:
Conclusion
Happy Tuesday friends! Let’s get after it!
And please RT/subscribe/etc if you found this valuable!
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Note
The team at @silentdao_ is continuing to develop their revolutionary new on-chain privacy architecture… which is essentially meant to be a middleware privacy/encryption layer that will facilitate composable privacy solutions within the EVM itself...
To quote their most recent article below:
“Silent Protocol is building the ghost layer, a modular layer 1.5 providing compliant privacy built on the EZEE framework to become that structured playground for institutions and retail users that can provide compliant, secure and privacy preserving access to ethereum native and cross chain liquidity along with enabling access to applications.”
Our editor @rektdiomedes is helping bang the drum on everything @silentdao_ is working on, so make sure to check out the below article, and follow Silent on Twitter for more updates!
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***Note On Material: The ‘Spotlight’ and ‘Note’ sections and info on our Official Monthly Sponsor are the only parts of The Daily Degen that are sponsored/promotional. Everything else is chosen 100% organically based on what info/stories/etc seem likely to be the most newsworthy/important/valuable to readers.
