Happy Wednesday and Happy Fed Day friends! If all goes as expected today will see the first interest rate cuts in almost half a decade!
Let’s get after it!
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: $2603.70
Oil (WTI): $70.28
US 10Y Treasury: 3.662%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Huge and much-anticipated announcement from @vertex_protocol good anons! They are launching on Base!!!
As they have been hinting, the Coinbase L2 is the newest chain they are deploying on, making it even easier for users to access their state-of-the-art trading platform!
Vertex offers over 50 on-chain spot + perpetuals + and money markets, orderbook liquidity spanning 5 chains, lightning-fast trading, cross-margined accounts, and low trading fees!
In addition, users can also stake VRTX to receive real yield paid in USDC while also benefiting from the official VRTX buyback & burn program!
Learn more about the Base deployment in the thread below! And get started now at app.vertexprotocol.com and make sure to follow them on Twitter for more updates!
Biggest TVL Movers + Else
Chains are mostly green today. Top 50 chains up at least 15% on the weekly include Core (#21), and Bitlayer (#23).
Protocols are mostly green today as well. Top 100 protocols up at least 10% on the weekly include Aerodrome (#34), NAVI Protocol (#66), PulseX (#80), DeSyn Protocol (#83), Tonstakers (#87), and Colend Protocol (#90).
Here’s The Top 12 Fastest-Growing Chains By TVL On The Weekly With At Least $20M TVL (from @DefiLlama):
Here’s The Top 12 Fastest-Growing Protocols By TVL On The Weekly With At Least $20M 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!)
-Something new called @EtheismProtocol. Twitter bio states “E embodies an experimental approach to blending art + blockchain technology, leveraging unique methods to offer both aesthetic + collectible value. \ (•Ξ•) /”. Followed by 19 of our mutuals. h/t @DeFiMinty:
-Something new called @ProtocolCAT. Twitter bio states “Miner validated tokens on Bitcoin using OP_CAT”. Followed by 7 of our mutuals. h/t @DeFiMinty:
-Something new called @atomic_notes. No Twitter bio. Followed by 1 of our mutuals. h/t @DeFiMinty:
-Something new called @boundless_xyz. Twitter bio states “The Verifiable Compute Layer supercharging all blockchains with unlimited execution and global composability.” Followed by 8 of our mutuals. h/t @AresLabs_xyz:
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama (single-exposure, no-IL, $20M+ 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)
-FOMC Meeting is at 2 pm EST today with Powell press conference at 230 pm EST. Sentiment still split on whether they will cut by 25 or 50 bps:
-Circle officially launching $USDC on Sui:
-Guarded sentiments from @0xBags:
-Bullish sentiments from @redhairshanks86:
-Some alt observations from @DeFiMinty:
-Interesting update re: @phantom wallet, h/t @DegenerateNews:
-New potential defi primitives from @AndreCronjeTech generating discussion, h/t @0xGeeGee:
-Bullish $TAO-thoughts from @CoinGurruu:
-Interesting Singapore observations from @NyxNoLimits:
-Additional headlines c/o @0xSalazar:
-Additional headlines c/o @blocmatesnews:
-New video on $AAVE from the @coinbureau channel:
-New interview with @macbrennan_cc, co-founder of @marginfi, from @lightspeedpodhq:
-New Joe Lubin interview from @DefiantNews:
-Parting thoughts from @ThinkingUSD:
Conclusion
Have a great Wednesday friends and enjoy the historic festivities! :)
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:
“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 about 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.
