The Daily Degen - December 20th, 2022

All of today's news/data/alerts...

Happy Tuesday friends! All sorts of insanity going on as always :)

Stats/alerts/etc at top and tweets/news/links/videos/etc at bottom as always!

Market Update

Crypto:

Top Cryptocoins Ticker @TickerTop

1: Bitcoin price is $16814.35 (-0.06% 1h) 2: Ethereum price is $1209.17 (-0.10% 1h) 3: Tether price is $1.00 (-0.00% 1h) 4: USD Coin price is $1.00 (-0.00% 1h) 5: BNB price is $247.54 (-0.23% 1h) 8: Dogecoin price is $0.07 (-0.22% 1h)

СryptoBubblesDaily @cryptobubbles24

The global #crypto market cap today is $0.84T, a 0.49% change in the last 24h. Total trading volume in the last 24h is at $44.6B. #BTC dominance is at 38.29% and #ETH - 17.25%. 20.12.2022 7:38:09 (UTC) #DeFi #NFT #BSC #Tether #AVAX #XRP #TRX #Solana

Gold: $1,796.80

Oil (WTI): $75.01

Stocks:

woodstock.club | SNS型投資アプリ @woodstockclub

🇺🇸Market Recap(変動率)🇺🇸 🈯ETF $VOO (S&P 500): -0.862% 📉 $DIA (Dow Jones): -0.483% 📉 $QQQ (Nasdaq 100): -1.641% 📉 💲GAFAM終値 $GOOGL: -2.016% 📉 $AMZN: -3.346% 📉 $META: -4.145% 📉 $AAPL: -1.591% 📉 $MSFT: -1.733% 📉 🔐暗号資産 $BTC: -0.745% 📉 $ETH: -0.352% 📉

Biggest Price Movers

(From @coingecko top 1000)

Spotlight

Our gigabrain friends at @pendle_fi have integrated Chainlink Automation on ETH Mainnet!

If you aren’t familiar with Pendle, they are an extremely interesting protocol in the yield/derivative space that continues heating up within defi.

Here’s the Medium article re: the Chainlink announcement today: https://medium.com/pendle/pendle-integrates-chainlink-automation-to-power-vependle-pool-voting-4a7388995250

Pendle @pendle_fi

Pendle has integrated #Chainlink Automation on #Ethereum! We'll be leveraging it to power vePENDLE and trigger the finalization of votes for incentive channeling 🎁 🔗medium.com/pendle/pendle-…

Biggest TVL Movers

Chains are mostly red today. Some notables on the weekly include BSC (#3) at -14.28%, Osmosis (#15) at -13.44%, Algorand (#19) at -15.66%, MultiversX (#20) at -13.95%, and Aptos (#30) at +16.09%.

Protocols are mixed today. Top 50 protocols red on all three timelines (daily, weekly, and monthly) include Curve (#4), Synthetix (#27), UniCrypt (#34), VVS Finance (#35), Parallel DeFi Super App (#36). PinkSale (#41), Tectonic (#44), and Osmomis (#47).

Here’s The Top 12 Chains By TVL (from @DefiLlama):

Here’s The Top 12 Protocols By TVL (from @DefiLlama):

Other Data Points

Bitcoin Fear And Greed Index

(from @BitcoinFear):

Bitcoin Fear and Greed Index @BitcoinFear

Bitcoin Fear and Greed Index is 29 - Fear Current price: $16,610

Ethereum Fear And Greed Index

(from @EthereumFear):

Ethereum Fear and Greed Index @EthereumFear

Ethereum Fear and Greed Index is 34 ~ Fear Current price: $1,168 opensea.io/assets/0x7fa81… etherscan.io/token/0x7fa813…

Crypto Volatility Index

(from @CVIdaily)

CVI Daily @CVIdaily

The Crypto Volatility Index is at 75.84 📊 The CVI ranges between 0-200 0-85 ≈ Low volatility 85-105 ≈ Medium volatility 105-200 ≈ High volatility Trade #volatility (CVOL): Platform 👉🏻 cvi.finance Sushiswap 👉🏻 sushi.com/swap?token0=0x… @official_CVI $CVOL $GOVI

New Protocols

(note: this includes new protocols we find through combing Twitter each day, and we also include every (newly launched) protocol added by @defillama and @debank (excluding Tomb forks/reflection tokens/etc) - hence disclaimer: these are not pre-vetted by us so make sure to DYOR!)

-New protocol called @PerpyFinance. Twitter bio states “Web3 Copy Trading protocol on Decentralized Perpetual Exchange - Follow, earn and monetize an investment strategy”.

Perpy 🌒 @PerpyFinance

Hello World, here is our first article on Perpy. You should not be sleeping on us, we're coming to write our name into the social finance web3 history... Surf the social finance wave with us or be drown in the sea of regrets.

medium.comPerpy : a DeFi masterpiece to rule them allPerpy allows you to be rewarded by sharing your trading skills. Trade like you always did. Let others copy you. Earn commissions on their…

-New protocol on Arbitrum called @oreoswap. Twitter bio states “Your wonderfilled DeFi protocol for trading, automated liquidity provision, farming and more... on the Arbitrum.”

OreoSwap - Tastiest DEX on #Arbitrum (💙,🧡) @oreoswap

Dear Oreos, Our roadmap is completed and we're ready to go on #Arbitrum chain. Presale on @Panda_Ecosystem coming up next! #Arbitrum #arbitrumairdrop #ArbitrumNFT

-New protocol called @GridexProtocol. Twitter bio states “The first ever, fully on-chain, fully functional order book trading protocol on Ethereum.”

Gridex Protocol @GridexProtocol

The first, fully on-chain order book DEX on @ethereum, @arbitrum, @optimismFND, @0xPolygon Exciting, right? Read this thread to find out more.

-New protocol on Cardano called @MeteraProtocol. Twitter bio states “The decentralized way to create and invest in tokenized portfolios”.

Metera Protocol @MeteraProtocol

We're about to hit you with something revolutionary - Meteraprotocol's new website, roadmap & white paper launch this Wednesday. Get Ready! #Cardano #Investment #Web3 #Crypto #roadmap #Website

-Something new on Cosmos launching in Q1 called @swiftprotocol. Twitter bio states “🕊️ @JunoNetwork de-commerce platform for buyers and sellers worldwide.”

Swift Protocol @swiftprotocol

#SwiftProtocol aims to bring de-commerce to the @cosmos ecosystem; launching Q1 of next year on @JunoNetwork. We're also raising our first round! swiftprotocol.zone/pitch.pdf Learn more 🧵

-Previously-mentioned @AptinLabs has been added to @DefiLlama. Twitter bio states “The decentralized lending protocol on #Aptos. Mainnet has launched!“

Aptin Finance @AptinLabs

We are thrilled to announce the upcoming launch of @Aptos_Network mainnet! Visit aptin.io and start your Aptos journey right away! medium.com/@aptin/the-gen… #Aptos #AptosEcosystem #AptosLaunch

-Previously-mentioned @opxfinance has been added to @DeBankDefi. Again, Twitter bio states “OPX (Decentralized Spot & Perpetual Exchange) - the next DEX generation in Optimizing Investment Efficiency & Leverage Trading”.

OPX @opxfinance

#OPX is please to have our partnership with another big name – and it’s @beefyfinance 🥳 🔥$OLP single-asset vault on #Optimism is now auto compounding on Beefy.com 65% APY🚀 📌 Join now here: app.beefy.finance/vault/opx-olp $OPX @optimismFND

-Previously-mentioned @sKCS_io has been added to @DeBankDefi. Again, Twitter bio states “sKCS for KCS on #KCC…. Stake KCS without lock KCS… Invested by Kucoin Ventures & KCS Foundation.”

sKCS.io @sKCS_io

GM, everyone!☕️ How many KCS have you Staked on #sKCS.io in the past week?👇

Security Updates

-Important reminder from @PeckShieldAlert:

PeckShieldAlert @PeckShieldAlert

#PeckShieldAlert The Ren 1.0 Network will be shutting down On December 20th, 2022. Make sure to remove exposure to renBTC on Curve/Convex/Badger and etc. ASAP to avoid potential loss of funds.

₿adgerDAO 🦡 @BadgerDAO

On December 20th, 2022, the Ren 1.0 Network will be shutting down. As a result, renBTC holders will no longer be able to bridge these assets back to the native Bitcoin network. This event affects ibBTC (deprecated) holders and ibBTC/crvsBTC and renBTC/wBTC vault depositors. 🧵

Top Stablecoin Yields

(note: these are the top Stablecoin Yields, sourced from @DefiLlama (all types, minimum $5M+ TVL) and @stable_fish - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)

Other News And Analysis

(key news, twitter threads, articles, videos, etc from last 24 hours)

-Big news from Japan today:

Holger Zschaepitz @Schuldensuehner

Bank of Japan shocks markets w/unexpected policy tweak. BoJ keeps rates unch at -0.1% BUT announced that Japan’s 10yr yield would now be able to rise to ~0.5%, having been limited to 0.25% prev. Japan's 10y ylds jumped on back of announcement, Nikkei dropped 2.5%, Yen surged 3.4%

Tarric Brooker aka Avid Commentator 🇦🇺 @AvidCommentator

Bank Of Japan - Yield Curve Control Change - A Thread (Simplified) - The BOJ raised the cap on 10 year govt from 0.25% to 0.5% - This means higher borrowing costs for the Japanese govt - But it does more that, it forces bond yields & interest rates globally to be repriced 1/

zerohedge @zerohedge

HUGE *BOJ RAISES UPPER BAND LIMIT ON YIELD TARGET TO ABOUT 0.5%

Arthur Hayes @CryptoHayes

It’s like the BOJ is taking lessons from ⁦@SBF_FTX⁩. When you own over 50% of a market is it even a market anymore? $FTT = $JGB

-Grayscale update:

Wu Blockchain @WuBlockchain

WSJ: Grayscale may give a tender offer for up to 20% of the outstanding shares of the $10.7 billion trust, which would make a direct appeal to shareholders to sell—or tender—their shares at a specific price during a certain time.

wsj.comIf Grayscale’s Bitcoin ETF Dreams Fail, Firm May Try a Tender Offer, CEO SaysCEO Michael Sonnenshein is attempting to assuage the fears of Grayscale Bitcoin Trust investors following the collapse of crypto exchange FTX.

Hal Press @NorthRockLP

The Grayscale later states that they are trying to "return a portion of the capital to shareholders". Hard to read this any other way than selling spot BTC and returning the cash to shareholders through a tender offer.

Hal Press @NorthRockLP

This would likely create ~$2B of BTC sell pressure. Would have to sell ~20% of underlying BTC to raise funds for the tender offer. Would be negative BTC, positive GBTC spread and positive ETHBTC. https://t.co/U90lYUloHr

Ouroboros Capital @OuroborosCap8

Its actually a double whammy cause as GBTC gets a tender offer, hedge funds will put on the long GBTC, short BTC futures trade - further pressuring price.

degentrading @hodlKRYPTONITE

4/n - On 20% tender, that means 128k of BTC will be dumped into the market.

-Binance/Voyager update:

CZ 🔶 Binance @cz_binance

Binance.US wins bid to acquire Voyager assets.

binance.usBinance.US | Buy, Sell, & Trade Crypto & Altcoins In The USBuy, sell, and trade Bitcoin, Ethereum, and over 130 cryptocurrencies with some of the lowest trading fees in the US. Get started within minutes.

-Stonks update:

Fintwit @fintwit_news

The U.S. stock market is down 19% in 2022, its worst year since the 2008 financial crisis.

The Kobeissi Letter @KobeissiLetter

Year-to-Date Performance: 1. $META: -66% 2. $PYPL: -65% 3. $TSLA: -63% 4. $AMD: -57% 5. $NFLX: -52% 6. $AMZN: -50% 7. $NVDA: -46% 8. $DIS: -45% 9. $UBER: -43% 10. $GOOGL: -39% 11. $MSFT: -28% 12. $AAPL: -27% Yet, $SPX is down just 20% despite the biggest names in freefall.

-Interesting stat re: GMX/Arbitrum, h/t @0xMerp:

merp @0xMerp

Damn, GMX accounts for almost half of all Arbitrum TVL and has more than the next 7 highest projects combined, what are most interesting up and coming protocols looking to take some of this market share? Shill me anons

-Near/Metamask update, h/t @resdegen:

Res @resdegen

1/ It Is Finally Live! #NEAR is now compatible with @MetaMask 🔥🔒 Thus, NEAR becomes the first non-EVM chain to offer MetaMask compatibility through a smart contract called #NETH, developed by @proximityfi Thread on how NETH works 🧵👇

-ChickenBonds/Curve update:

Chicken Bonds (🥚, 🐔) @ChickenBonds

$CRV reward voting is live! 🦙 🤝 🐔 This week the @CurveFinance community enabled gauge weight voting for $bLUSD. $CRV holders will be able to vote and increase incentives on the $bLUSD pool. Head over here to cast your vote: dao.curve.fi/gaugeweight

-Vitalik Buterin appeared on @BanklessHQ:

-@smol_thots released part two of his article series on $MAGIC and the future of crypto overall:

smolthots.eth @smol_thots

What is $MAGIC and why is it valuable? What is @playbridgeworld and what are Legions? Why have so many revolutionary DeFi projects decided to call @arbitrum home? I get into this and more in my second installment on @Treasure_DAO ✨✨✨

mirror.xyzThe Metaverse is The Magic: TreasureDAO (Pt.2)What is Bridgeworld? Here I explore how TreasureDAO is building an interconnected metaverse with $MAGIC and why Arbitrum has been pivotal to its success.

-@theempirepod released an interesting interview with @voltz_xyz founder @0xSimonJones on interest rates and the relationship between tradfi and defi yields:

-Very thorough (but dry) thread for our macro fans:

TheLastBearStanding @LastBearStandng

1. Something strange is happening - people are starting to borrow from the Fed! This only happens in moments of significant liquidity stress - like 2008 or 2020. But supposedly the market is "awash" with excess liquidity right? So what is going on?👇👇

Tracy Alloway @tracyalloway

Don't look now but someone's been tapping the Fed's discount window. https://t.co/YDnNloCUqF https://t.co/3qMRCuiops

-@laurashin just released a year-in-review and looking-forward interview with @cobie and @cburniske:

-Interesting thread from @The_ReadingApe:

The Reading Ape | Podcasts to Notes @The_ReadingApe

. @arbitrum started out as a class project at @Princeton How did it grow and become what it is today? In this episode of @investinalts, host @benlakoff speaks to @sgoldfed of @OffchainLabs 👇

-Excellent thread from @ercwl:

Eric Wall @ercwl

In the depths of the bear market, it is unavoidable that you will eventually ask yourself: ”Wait. What the fuck does this industry even produce? Did we just move some imaginary numbers around? Yes, yes decentralized currency, DAOs blabla, but what real is there to touch?”

-Parting wisdom from @thedefiedge:

Edgy - The DeFi Edge 🗡️ @thedefiedge

90% of Crypto success is being able to manage your own emotions. This means: • Taking profits when everyone's dreaming about Lambos • Feeling FOMO but sticking to your systems • Not selling at the 1st signs of FUD So many people are incentivized to manipulate your emotions

Conclusion

Have a great Tuesday friends! Stay alert out there!

And please RT/follow/etc if you found this interesting! :)

-

Note

@NestedFi is our official sponsor for the month of December... They are a new Social Trading protocol which lets users create portfolios and copy-trade other portfolios on ETH Mainnet, Arbitrum, Polygon, Avalanche, Optimism, and BSC…

Nested allows for non-KYC fiat-onboarding through their integration with Mt Pelerin, as well as easy automatic dca’ing.

They are having an airdrop for early users, so make sure to check them out and consider creating some portfolios + copying some other traders’ portfolios!

Here’s a thread on them from @alpha_pls:

Aylo @alpha_pls

How to onboard your mum into DeFi in 6 minutes 🧵