Estimated Read Time: ~5 minutes
⚡In Today’s Edition
Is BTC right on schedule with previous cycles?
Orderly Network’s Big O Campaign
A new Solana dashboard
Stablecoin market cap all-time highs
📖 Recommended Reads
⚡Sony is building an Ethereum layer 2 chain
Industry titan Sony wades further into Web3, announces testnet partners Chainlink, Circle & Optimisim
⚡Orderly Network receives LayerZero grant, sharing ZRO tokens with community
Orderly launched The Big O Campaign (Aug 22-Sep 5) and is giving away 50,000 ZRO tokens. Learn more about quests to earn tokens here
⚡Kamino Finance 101 Full Report
Learn more about the protocol holding 30% of Solana’s TVL
In-depth bull and bear cases for ETH
Despite price action for the past several months, Bitcoin is doing what it’s done every cycle
⚡Blockworks Creates Complete Solana Dashboard
Critical Solana metrics, all in one place
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🔢On-Chain Analysis
We Are So Back: Total Stablecoin Market Cap Hits All-Time High
Notable stablecoin market cap percentage increases include Ethereum, Solana and Base.
Base Reaches 1 Million Daily Active Addresses
Base also hit a major milestone, and growth is taking off compared to other L2s with more active users and more transactions than competitors.
Two drivers of growth on Base:
Basenames - 200k Basenames created in less than one week
Aave surpasses $100M TVL on Base, indicating heavy usage - the Aave team also unveiled the Endless Summer program rewarding Aave users on Base
🚜Farm of the Week
JitoSOL-SOL on Kamino Finance
Kamino Finance is one of the largest protocols on Solana with over $1B in TVL. There are hundreds are markets available for lending & borrowing your assets, providing liquidity and leveraging tokens.
How it Works
Earn yield on your JitoSOL and earn Meteora Points simultaneously.
For those holding either SOL or JitoSOL (JitoSOL is a liquid staking token that’s already earning nearly 8% APY), you can deposit either of these assets into the JitoSOL-SOL Liquidity pool on Kamino to earn 8% APY and Meteora Points.
The best way to take advantage of this farm is to provide JitoSOL tokens that are already earning ~8% APY, effectively doubling the APY while also farming the upcoming Meteora airdrop. APY comes in the form of Jito JTO tokens, which can be used on Kamino Liquidity to earn 25% APY.
How Kamino’s Liquidity works:
Risks
Impermanent Loss
Onchain and Crypto News This Week:
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🛠️Tool Spotlight
Discover Trending Dapps with DappRadar
DappRadar has a wide selection of dapps, DeFi projects, games NFT collections paired with essential data - usage statistics, volume, top trending contracts and more.
Use DappRadar to find top trending contracts, and head to the Rewards tab to find data on the latest airdrops: the estimated airdrop date, the likelihood of the airdrop, the actions required to qualify, and how many users are participating.
More helpful DeFi Tools: The Dynamo DeFi Crypto Tools List
🗳️Prediction Pulse: Forecast the World Better
Prediction Pulse is a new newsletter launched by the Dynamo DeFi team about prediction markets.
On Tuesdays and Fridays, you get everything you need to know about the upcoming election, trending markets with the biggest moves, and our favorite prediction market picks to capitalize on🤝
Prediction markets are one of the fastest growing crypto verticals. Join thousands of subscribers and get critical updates & picks on crucial markets.
📅Key Events This Week
Macro Events
📊BOJ CPI - August 27th
📊CB Consumer Confidence - August 27th
📊Q2 2024 GDP data - August 28th
📊July Pending Home Sales data - August 28th
📊July PCE inflation data - August 30th
Token Unlocks
🔓TokenUnlocks: Track token unlocks and make better investment decisions. Use my code DDNM5 for 5% off Pro Plans.
🔓YGG (3.79%) - August 27th
🔓AXL (2.68%) - August 27th
🔓DYDX (0.57%) - August 27th
🔓AGIX (1.58%) - August 28th
🔓 PORTAL (0.52%) - August 29th
🔓MAV (1.19%) - August 30th
🔓DINERO (1.88%) - August 31st
🔓OP (2.64%) - August 31st
🔓PRIME (1.68%) - August 31st
🔓SUI (1.71%) - September 1st
🔓CETUS (1.25%) - September 1st
Launches & Updates
Note that these launches are mostly unvetted by the Dynamo DeFi team and this isn’t an endorsement of any of them.
🚀FluxAI beta launch - August 28th (Source)
🚀Alex Labs hardfork - August 28th (Source)
🚀Chainflip fill-or-kill mainnet release - August 29th (Source)
🚀Kaia Mainnet launch - August 29th (Source)
⚡Favorite Resources
If you want to dive deeper, here are some of my favorite resources:
🛠️ The Dynamo DeFi Crypto Tools List: A comprehensive list of 100+ crypto tools to help with portfolio tracking, analytics, airdrops and more.
🚀 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.
For more frequent content, follow me on Twitter and YouTube.
Until next time,
Dynamo DeFi
