Happy Friday lads and ladettes! 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: $2552.30
Oil (WTI): $75.78
US 10Y Treasury: 3.865%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Greetings good degens!
Defi project @GammaSwapLabs is having its long-anticipated LBP!
“$GS launches today. Are you bullish enough?
The first onchain perpetual options protocol, GammaSwap creates positions by borrowing liquidity from Automated Market Makers (AMMs), offering leverage on any token without the need for an oracle.
What are some of the advantages of GammaSwap?
-No price based liquidations
- Available on any asset (including LRTs and Memecoins)
- Advanced strategies like Straddles for hedging or reducing price risk
- Simple product that resembles a perp but has convexity
More assets and less margin risk is the main reason options have become the derivative of choice for retail. We think it will happen in DeFi as well and GammaSwap would be looking at 10 billion in OI over the next 5-10 years.
The platform has been live for 6 months and already attracted a growing TVL of over 5 million. $GS can be staked to earn 30% of the platform revenue in ETH, esGS rewards and multiplier points.
5% of the $GS supply is up for grabs until September 2, 1PM UTC. To secure an allocation, head to their official website here.”
Note: This Spotlight is part of our partnership with @TailoredWeb3 from our friend @JiraiyaReal!
Biggest TVL Movers + Else
Chains are mostly red today. Only top 30 chains green on the daily are Optimism (#13), Aptos (#17), TON (#22), Starknet (#26), and dYdX (#30).
Protocols are red as well today. Only top 60 projects green on the daily are Binance Staked ETH (#8), JustStables (#18), SUN (#32), Solv Protocol (#33), Tether Gold (#41), Ondo Finance (#43), and Aerodrome (#44).
Here’s The Top 12 Chains By TVL (from @DefiLlama):
Here’s The Top 12 Protocols By TVL (from @DefiLlama):
Here’s The Top 12 Dex’s By 7 Day Volume (from @DefiLlama):
Bitcoin Fear/Greed Index:
(from @BitcoinFear)
Chart Of The Day
(Courtesy of our Official Sponsor @vertex_protocol)
-$ETH sentiment is in the gutter these days, but plenty of true-believers remain bullish… Do you have a strong opinion on it? Go long or short via spot or leverage and access 50+ other markets as well at app.vertexprotocol.com!
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!)
-New project called @JunctionFi. Twitter bio states “Your Multi-Chain DeFi Exchange. Cross-chain swaps across 100+ chains.” Followed by 2 of our mutuals. h/t @Zdeadex:
-Something new called @GenLayer. Twitter bio states “The First Intelligent Blockchain, enabling AI-powered Smart Contracts 🧠” Followed by 34 of our mutuals.
-Something new called @privateAIcom. Twitter bio states “A knowledge-graph ecosystem where all data is monetizable $PGPT: Protect your IP with #FHE Join the movement - DeSci follow #DeSci”. Followed by 23 of our mutuals. h/t @MoonlitBut45fly:
-Something new called @BankUntitled. Twitter bio states “𝐔𝐧𝐥𝐞𝐚𝐬𝐡 your financial potential. Building with @soneium”. Followed by 4 of our mutuals. h/t @AresLabs_xyz:
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama ($10M+ TVL, no-IL, and single-exposure only) - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)
Security Alerts
-No security alerts today.
Important News And Analysis
(key news, twitter threads, articles, videos, etc from last 24 hours)
-Major crypto option expiries today, h/t @LDNCryptoClub:
-New PCE data, h/t @WuBlockchain:
-$BTC reserves on exchanges hits new yearly low, h/t @cryptoquant_com:
-Large increase in relative MEV and fee revenue to Solana validators compared to issuance vs January of this year, h/t @tomwanhh:
-Lots of discussion about pending home sales data and real estate generally in macro circles right now, example c/o @Econ_Parker:
-Token unlocks info c/o @NPC_68:
-Additional headlines, h/t @blocmatesnews:
-Interesting thread on @HyperliquidX from @ReveloIntel:
-Solana ecosystem airdrop thoughts c/o @CC2Ventures:
-Interesting reflections from @DefiIgnas:
-Market thoughts from @0xjaypeg:
-New gem-hunting video from @blocmatesdotcom featuring @Grantblocmates and @jediblocmates:
-New crypto discussion between @TaikiMaeda2 and @Arthur0x:
-New macro interview with Lacy Hunt c/o @menlobear:
-Parting wisdom from @LDNCryptoClub and @alpha_pls:
Conclusion
Happy Friday good anons and stay alert out there!
And please RT/subscribe/etc if you found this valuable!
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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.