Happy Wednesday good degens! Lots of stuff going on!
Let’s dive in!
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: $2334.40
Oil (WTI): $83.18
US 10Y Treasury: 4.65%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Take note friends… the @hashflow team is doing a cross-chain Galxe quest with @wormhole!
The first 690 players who complete all the tasks will be able to mint the Hashflow x Wormhole Limited-Edition Badge NFT!
As background, Hashflow is a native cross-chain dex aggregator we’ve been helping spread the word about, that helps traders source the best prices + liquidity available and seamlessly transact across Ethereum, Arbitrum, Avalanche, BSC, Optimism, Polygon, and Solana (without the risk and hassle of bridging or using synthetic assets!).
Make sure to check out the Galxe quest via the tweet below and also follow them on Twitter for more updates!
Biggest TVL Movers + Else
Chains are mixed today. Top 50 chains up at least 25% on the weekly include Merlin (#9), Mode (#20), Hedera (#37), zkLink (#42), and Telos (#50).
Protocols are mostly green today. Protocols with at least $100M TVL up at least 50% on the weekly include iZUMI Finance, Tranchess, Sanctum, SubseaProtocol, and Avalon Finance.
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):
Bitcoin Fear/Greed Index:
(from @BitcoinFear)
Ethereum Fear And Greed Index
(from @EthereumFear):
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 @doginhood_io. Twitter bio states “The first Robin Hood game-based meme coin | Incubated by @Gameswift_io”. Followed by 23 of our mutuals.
-New dex on X Layer Chain called @PotatoSwap_Fi. Twitter bio states “Discover Liquidity. Or Potatoes. Or a DEX + Launchpad natively built for the @XLayerOfficial ecosystem.” Followed by 5 of our mutuals.
-New dex on X Layer Chain called @Revoswap_ has been added to @DefiLlama. Twitter bio states “AMM Dex on @XLayerOfficial . Join the revo-lution.” Not followed by any of our mutuals but has $1.1M TVL.
-New lending protocol on Base called @snail_finance has been added to @DefiLlama. Twitter bio states “🐌Snail Finance: Your go-to lending protocol on Base ⚡️Deposit, Borrow& More”. Followed by 1 of our mutuals.
-New dex on BSquared chain called @glow_swap has been added to @DefiLlama. Twitter bio states “A pioneer decentralized exchange built on B² network”. Followed by 3 of our mutuals.
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama ($10M+ TVL, single-exposure, no-IL only) and @stable_fish - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)
Security Alerts
-Daily Reminder: Twitter (and other social media) is being absolutely inundated with scams and links to fake versions of popular defi protocols - please make sure to be EXTREMELY hyper-vigilant and triple-check before interacting with anything!
-No security alerts today.
Important News And Analysis
(key news, twitter threads, articles, videos, etc from last 24 hours)
-@RenzoProtocol saga and resulting depeg has been dominant topic of the day, h/t @Picolas_Caged for the short summary below:
-Good thread analyzing the Renzo situation from @0xtommy_eth:
-@fantasty_top_ TVL surging as SocialFi meta heats up, h/t @Tyler_Did_It:
-Interesting news item re: acquisition of @UltimateApp by @JupiterExchange, h/t @DegenerateNews:
-$ETH ETF situation ongoing with opinions on potential May approval still mixed:
-On-chain derivatives market share keeps growing, h/t @TheDeFinvestor:
-Interesting thread on the cross-section of NFT’s and airdrops from @Beacon_Early:
-Portfolio composition update from @blknoiz06:
-Wise thoughts from @redphonecrypto:
-Airdrop alfa from @Faycytw:
-New article from Arthur Hayes:
-Airdrop strategy video from @ThorHartvigsen:
-Daily update on all things airdrop-related from @KryptoCove:
-Parting wisdom from @Route2Fi via @QuotableCrypto:
Conclusion
Have a good Wednesday friends and stay alert out there!
And please RT/subscribe/etc if you found this valuable!
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Note
Attention yield enjoyoors… @vertex_protocol just made their most recent rewards distribution of $USDC to $VRTX-stakers!
Staking Rewards Calculation (Prev. 7 Days) 🧮
Total Fees: 363,893 USDC
Maker Rebates: 108,747 USDC
Gas Cost: 6,445 USDC
Net Revenue: 248,701 USDC
Staking Distribution: 124,350 USDC
Once again, Vertex is a cross-margin spot, perps, and money market protocol where users can trade, earn, and borrow all in one place, and is the Official Sponsor of The Daily Degen!
Make sure to follow them on Twitter for more updates and visit their site now to get started trading and/or yield-maximizing!
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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.
