Read Time: ~5 minutes
⚡Snapshot
Research & opportunities on chains breaking all-time highs
250% APY on SUI
Record ETH ETF inflows
New Dynamo Defi website and metrics dashboard (in beta) are live! The dashboard measures total fees of all applications on each chain. It’s like onchain “GDP data”, and the only place to find it is right here.
📖 Recommended Reads
Ethereum’s North Star - does it need one?
⚡How fomo on the timeline works, and how to avoid it
Lessons to learn from the vicious fomo cycle
⚡Virtuals AI Agent ecosystem playbook
Virtuals metrics and AI Agents you should know
⚡Actively hunting for the top is a fool’s errand
Ways to spend your time if you think the top is close
⚡Ethereum sees record weekly ETF inflows
Digital asset investment products saw largest weekly inflows ever ($3.85B in 7 days)
⚡Ripple’s CEO went on 60 Minutes to discuss XRP’s role in crypto adoption
There was some drama between Garlinghouse and a former SEC official
⚡December DeFi Strategy Call: Get Positioned Early
November's presentation commanded 85 hours of watch time from serious DeFi players - we covered AI, DeSci, Base and Sui.
This month, we're covering more opportunities:
- Complete ETF landscape: Ethereum next?
- DeFi chains seeing real growth: deep dives on SOL, SUI, BASE, HYPE, XRP
- Why YC & a16z are requesting specific crypto startups
- AI Agents & next-gen stablecoins
Join the Pro community now to attend live on Wednesday and get the full recording + slides
Pro Members: Your link to RSVP and bring a friend will be hitting your inbox shortly.
Sovereign Members: Submit questions early for custom research on dedicated slides
🔢Onchain Analysis
Chains with brand new TVL ATHs
Something to celebrate alongside BTC hitting $100k: DeFi TVL hit a new record this week, crossing the $200B mark.
Given TVL and volumes went straight up during the month of November, it may feel overwhelming - with growth everywhere, where’s the best place to look for opportunities?
Starting with the top 10 chains by TVL, let’s look at which ones set new TVL ATHs recently.
Now that we’ve identified chains with explosive growth, let’s look at which protocols among these chains are seeing increased volume or are making money.
Ethereum saw a 24% uptick in DEX volume last week, and Sui got a 55% bump. Aptos got an 86% bump, it’s just not visible on this list. Any one of these chains warrants a deeper dive.
I track significant DEX volume increases across multiple time frames to measure sustained growth and identify opportunities to help narrow down research. These are sent out as alerts via Discord. Here’s one that triggered this morning:
Diving deeper into protocols on these growing chains:
Ethena, a synthetic dollar stablecoin protocol on Ethereum, is seeing a major increase in fees, indicating growth & increased usage.
Aries Markets, a lending protocol on Aptos with margin trading, has a USDT deposit pool earning 15% APY (rewarded in APT tokens). Aries is also running a points program.
Cetus on Sui is a leading DEX with massive volume growth in the last few months. Looking at their pools, there are triple-digit yields that are paid out in CETUS or SUI tokens. More on how to earn 250% on SUI tokens below.
🚜Farm of the Week
SUI-USDC on CETUS
CETUS is a DEX & liquidity protocol built on Sui & Aptos. ~$230M in TVL.
CETUS is offering high yields on SUI, USDT & USDC. We’re going to focus on the SUI-USDC pair, currently earning 250% APY.
How it Works
If you haven’t used Sui yet, you can create a Sui wallet using Suiet. Phantom is also integrating Sui into their wallet soon.
With high trading volume comes high fees & APYs for liquidity providers. To begin providing liquidity, connect your wallet to Cetus and select a liquidity provision range. The ‘Active’ range should do just fine. If SUI price rockets upward or collapses, you’ll need to readjust your parameters, but it only takes a few clicks.
Enter how much SUI-USDC you’d like to provide, and confirm - you’ll receive a prompt to confirm in your wallet. Once that is approved, you’re good to go.
Risks
If price moves out of your liquidity range, you won’t earn fees. Keep an eye on prices and adjust if necessary.
Tokenomics 101: Market Cap, FDV & Token Unlocks Explained
⚡I learned crypto the hard way so you don’t have to
In 2021 I learned a painful lesson after losing everything. Here's the system I built to make it all back (and then 10X more)
🛠️Tool Spotlight
Find the Best Yields Using DeFiLlama Yields Dashboards
The DeFiLlama Yields page lets you endlessly customize your search for yield - filter by chain, token, TVL (min & max), specific category, or by protocol.
If you’re looking for a specific type of yield, you can use the navigation window to view different types of yield. Use the Overview page to get a high-level read APY trends.
Each pool has it’s own Chart page - where you can analyze the TVL, rewards, and a Risk Rating, as well as view DeFiLlama’s Outlook yield prediction.
📅Key Events This Week
Macro Events
📊 NY Fed consumer inflation expectations - December 9th
📊 November CPI data - December 11th
📊 US Federal budget balance - December 11th
📊 November PPI data - December 12th
📊 Initial Jobless Claims data - December 12th
Token Unlocks: $574M Unlocking This Week
🔓Tokenomist: Track token unlocks and make better investment decisions. Use my code DDNM5 for 5% off Pro Plans.
🔓EIGEN (0.61%) - December 10th
🔓IO (1.68%) - December 11th
🔓APTOS (2.13%) - December 11th
🔓AXS (0.53%) - December 13th
🔓SEI (1.31%) - December 15th
🔓STRK (3.05%) - December 15th
Launches & Updates
Note that these launches are mostly unvetted by the Dynamo DeFi team and this isn’t an endorsement of any of them.
🚀Linear PerpDEX launch - December 9th (Source)
🚀 Silentswap launch on Secret network - December 9th (Source)
🚀 EigenLayer Rewards V2 testnet - December 12th (Source)
🚀 ZEN final halving - December 12th (Source)
🚀 sBTC launch - December 16th (Source)
🚀 Avalanche Etna upgrade mainnet launch - December 16th (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
