Happy Saturday good degens! 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: $2606.20
Oil (WTI): $68.76
US 10Y Treasury: 3.657%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Important update from our friends at @Infinit_Labs - who just completed a very noteworthy $6M funding round!
As noted in the Medium article linked in the tweet below:
“INFINIT, the first DeFi abstraction layer has successfully raised $6M in funding round by Electric Capital, Mirana Ventures, Hashed, and other investors, including Arthur Hayes’s family office Maelstrom.fund, Faction, Robot Ventures, Nomad Capital, Tangent, Presto Labs, Bankless Ventures, and Selini Capital. The funds will be allocated to advance product development, facilitating a seamless DeFi protocol development experience for builders.
By providing end-to-end DeFi infrastructure support, INFINIT enables anyone to launch and scale DeFi protocols in minutes. Its modular approach to provide customizable building blocks, enable developers to easily plug-and-play different components to build a new protocol or add new functionalities to existing protocol. This allows DeFi protocols to quickly launch and scale in a timely manner and go-to-market faster with fuller functionalities without the need to start development from scratch.”
We have been helping the team behind @Infinit_Labs raise awareness about everything they have been building, so make to check out the announcement below and associated Medium article, and follow Infinit on Twitter for continued updates!
Biggest TVL Movers + Else
Chains are quite green today. Fastest-growing chains on the weekly with at least $50M TVL are Bitlayer, TON, and Core.
Protocols are also very green. Fastest-growing protocols on the weekly with at least $50M TVL are DeSyn Protocol, Cold Protocol, STON(dot)fi, DeDust, and Suilend.
Here’s The Top 12 Chains By TVL (from @DefiLlama):
Here’s The Top 12 Protocols By TVL (from @DefiLlama):
Here’s The Top 12 Entities By 24 Hour Fee Generation (from @DefiLlama):
Here’s The Top 12 Chains By 7 Day Stablecoin Inflow % (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!)
-Something new called @Polaris_App. Twitter bio states “The Token Portal. Get early access 👇”. Followed by 30 of our mutuals. h/t @twindoges:
-Something new called @fortytwonetwork. Twitter bio states “EVM-Compatible AI Protocol Utilizing Mixture-of-Nodes Architecture to Surpass Centralized LLMs.” Followed by 4 of our mutuals. h/t @twindoges:
-New project called @GunDotFun. Twitter bio states “Coming soon.” Followed by 2 of our mutuals. h/t @twindoges:
-New yield aggregator on Blast called @Cybro_io has been added to @DefiLlama. Twitter bio states “CYBRO is an earn marketplace on Blast”. Followed by 1 of our mutuals.
-New yield protocol on Cronos zkEVM called @microswaporg has been added to @DefiLlama. Twitter bio states “The leading Dexes aggregator Let's Swap To Earn!” Followed by 1 of our mutuals.
-Previously-mentioned yield protocol on ETH Mainnet called @Lombard_Finance has been added to @DefiLlama. Twitter bio states “LBTC is a Bitcoin LST, built on top of Babylon, free to be put to work in DeFi. Lombard is currently in Public Beta on Ethereum mainnet.” Followed by 77 of our mutuals.
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama (single-exposure, no-IL, $10M+ TVL 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)
-Big spike in ETF inflows yesterday, h/t @CarpeNoctom:
-Lots of focus on increasingly dire-looking US fiscal situation, h/t excellent thread from @zerohedge:
-Aave has retaken the #2 by TVL spot from EigenLayer, h/t @NPC_68:
-Gold keeps hitting new all-time high’s, h/t @KobeissiLetter:
-@truflation’s real-time inflation gauge hit a new all-time low and is on cusp of falling below 1.00% for the first time:
-Circle is moving its headquarters to New York City, h/t @jerallaire:
-Recent alt outperformers data + thoughts, h/t @Nemi_0x:
-Variety of interesting thoughts from @0xGeeGee:
-Stablecoins currently account for around 50% of blockchain transactions, h/t @peterschroederr and @nic__carter:
-Low oil prices continuing to generate attention, h/t @WarrenPies appearance on @CNBCOvertime (click to watch video):
-Ruminations from @fejau_inc:
-New weekly roll-up from @BanklessHQ going over several dozen of the top stories in crypto:
-New interview with @0xngmi- founder of @DefiLlama- from @Dynamo_Patrick:
-New episode of TAO Talk from @blocmatesdotcom featuring @@563defi, @brodyadreon, and @mikecontango:
-New episode of @0xSteadyLads podcast:
-New video of Peter Thiel at the All-In Summit that’s getting a lot of attention in crypto and AI circles:
-New interview with @realAllenNg on “What the West Misunderstands about Crypto in Asia" from @theempirepod:
-Parting wisdom via @3xliquidated:
Conclusion
Have a great Saturday friends and don’t forget to touch some grass this weekend!
And please RT/subscribe/etc if you found this valuable!
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Note
Very interesting new video just posted by the @vertex_protocol account… very interesting indeed :)
Make sure to check it out below, and make sure to visit the Vertex site as well!
As always, Vertex offers over 50 different perps and spot markets, utilizing a state of the art cross-chain liquidity infrastructure via their Edge system @EdgeLayer! In addition, yield maximalists can also stake VRTX to benefit from both ‘RealYield’ paid in USDC and the official VRTX buyback & burn program!
Get started now at app.vertexprotocol.com and make sure to follow them 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.
