It’s the 63rd edition of the Gems Corner, and today, we’ll be looking at the recent Sui craze, EigenLayer opportunities, and other alphas.
Sponsored by
In the past couple of months in 2024, several blockchains have been in the limelight and slowly normalized. We’ve seen this trend on Solana, Near, Ton, Tron, and Sui Network.
Sui recently entered the top 10 blockchain list, flipping Avalanche, Polygon, Scroll, and many others, also topping all chains on net inflows. Additionally, they recently crossed $1B in Total Value Locked, a milestone, less than two years after Mainnet Launch.
Interestingly, the explosion of interest has been overflowing into its native dApps, as a couple of them are already hitting ATHs in daily volume, positive price actions, and fees.
Sui is a layer-1 blockchain that leverages a novel object-centric data model and the secure Move programming language to address inefficiencies prevalent in existing blockchain architectures.
In crypto, you strike while it’s hot. Take advantage of the attention on Sui and explore the chain for opportunities you can leverage. There is airdrop farming, degen-ing opportunities, and much more to explore. You can check their top dApps on DeFiLlama for tokenless protocols and use Hop for swaps.
Every chain has its day, and its Sui-tober is evidently upon us. Move with the flow.
Sponsored by DIA
DIA announces ‘Lumina’, a brand-new oracle network, reimagined from scratch.
Lumina is a trustless oracle network that delivers data feeds for any token, LST, RWA, random numbers, and more to any blockchain.
DIA Lumina is composed of state-of-the-art modular components such as Zero-Knowledge technology, a cross-chain messaging protocol, ETH scaling solutions and more.
The network is permissionless, enabling nodes and stakers to participate in distributed data sourcing, secured by crypto-economic and cryptographic mechanisms.
DIA Lumina’s native Ethereum L2 rollup, ‘Lasernet’, executes all critical oracle operations, ensuring trustless computation and full verifiability.
EigenLayer Launch and Opportunities
EigenLayer recently announced the unlocking of the long-awaited $EIGEN token, a massive milestone for its ecosystem. You should check your eligibility if you’ve been farming EigenLayer directly or through any of its restaking partners.
Here’s the list of the claim websites for your convenience:
I surveyed how users played their $EIGEN airdrop and got the following results.
The urge to always sell off airdrop tokens is logical, as the previously airdropped tokens in 2024 have primarily performed poorly after launch. But EigenLayer might just be different, despite some recent controversy on their tokenomics and disclosures.
EigenLayer will likely adopt $TIA’s airdrop playbook, which stakers got an avalanche of airdrops from their direct and indirect partners. Many projects are building on Eigen’s AVS, most of which will likely airdrop to $EIGEN stakers. I think it’ll be worth staking.
Alternatively, if you're a sucker for yields and points, you could optimize for capital efficiency on Renzo Protocol and Etherfi, which both launched liquid staking EIGEN derivatives, eEIGEN and ezEIGEN, respectively. This strategy will give you the native protocols and Veda Labs' points.
Alpha Bites and Tweets
That’s a wrap.
Thanks for reading!
Viktor DeFi.
PS: I’d love to hear your feedback and comments.
