Happy Monday good degens! Start of another big week!
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 @CryptoBubbles24):
Gold: $2057.10
Oil (WTI): $71.52
US 10Y Treasury: 3.94%
Stocks ($SPY as proxy): N/A
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Update on our friends over at @HMXorg who we’ve been helping shine a light on! Their derivative and perpetual DEX has started 2024 strong with $10B in cumulative volume, and more than 5,000 unique users have traded and provided liquidity on their platform!
To recap, HMX utilizes 7 main mechanisms to ensure user security and LP protection:
🟢 Max Utilization Limit, Preventing traders from opening new trades when reached
🟢 Auto Deleverage (ADL)
🟢 Profit Reserve Buffer, deleveraging position after a certain % threshold
🟢 Open Interest Limits
🟢 Funding Rates being charged to traders
🟢 Adaptive Pricing
🟢 Adaptive Trading Fees
Thanks to these mechanisms HLP's rewards have stayed consistently around 40-50% and usage has continued to surge! Make sure to check it out for yourself on their website by clicking here and check out their recent thread on how they ensure LP protection below:
Biggest TVL Movers + Else
Chains are mostly red today. Notables include Sui jumping up to #12 at +6.40% on the daily, and Metis (#33) at +34.23% on the weekly.
Protocols are also mostly green today. Some notables include stUSDT (#10) at -5.57% on the daily, and EigenLayer (#15) at +583% on the monthly.
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 Revenue Generation (from @DefiLlama):
Top Trending Tokens (from @dexscreener, 24 hour timeframe):
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 every (newly launched) protocol added by @DefiLlama - hence disclaimer: these are not pre-vetted by us so make sure to DYOR!)
-Something new called @OpSecCloud. Twitter bio states “OpSec, Cloud security with decentralized servers, private networks, RDPs, GPUs, One-Click Setup Nodes, DePIN hardware – shaping security-oriented future.” Followed by 12 of our mutuals. h/t @dontbuytops:
-New project called @nakamotofi. Twitter bio states “Nakamoto Finance – A Complete DeFi Ecosystem on Bitcoin”. Followed by 5 of our mutuals. h/t @Beacon_Early:
-New project on @Blast_L2 called @monoswapio. Twitter bio states “The @Blast_L2 native v3 liquidity hub with native yield.” Followed by 4 of our mutuals. h/t @Beacon_Early:
-New Solana liquid-staking project called @convergent_so. Twitter bio states “Converge your $SOL | 0% interest loan with LSD backed stablecoin | Powered by @jito_sol”. Followed by 7 of our mutuals. h/t @Beacon_Early:
-Something new called @echolink_oracle. Twitter bio states “Echolink, a DePIN-oriented IoT oracle deployed on Solana, tailored for the burgeoning world of DePIN IoT devices”. Followed by 3 of our mutuals. h/t @Beacon_Early:
-Something called @Inu_ZKFair on Zkfair chain has been added to @DefiLlama. Twitter bio states “InuFair Finance galaxy—where DeFi and DEX collide in the most epic ZK Fair adventure! (0.25% Trading Fees) 👾”. Not followed by any of our mutuals.
-New/newish dex on Mantle called @tropical_swap has been added to @DefiLlama. Twitter bio states “Let your crypto adventure take an exotic twist in this fresh DEX on @0xMantle. Enjoy juicy yields in $PAPPLE (SOON). Turn on the 🔔”. Not followed by any of our mutuals.
-New project on Telos chain called @hexaswap has been added to @DefiLlama. Twitter bio states “Hexaswap is a protocol for decentralized exchange and automated liquidity provision on #TelosEVM...” Not followed by any of our mutuals.
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!
-Reminder /co @blknoiz06 re: fake videos:
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama ($10M+ TVL, single-exposure, no-IL only) and @stable_fish - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)
Important News And Analysis
(key news, twitter threads, articles, videos, etc from last 24 hours)
-Macro schedule for the week ahead, h/t @KobeissiLetter:
-Ticker alpha from @TheDeFinvestor:
-Thoughts from @donnelly_brent on Bitcoin/ETF’s/price action:
-THORChain volumes continue surging higher, h/t @Dynamo_Patrick:
-NFT market update from @Tyler_Did_It:
-Thoughts on the airdrop meta from @Slappjakke:
-Coinbase app rank of 497 suggests we are still far from the euphoria stage of the cycle, h/t @crypto_condom:
-$mETH getting a lot of attention on the TL the last couple days, h/t @tomwanhh below:
-Update on Japanese bonds c/o @zerohedge:
-”Uranium Squeeze” getting a lot of attention in macro circles:
-Important thoughts from @JackNiewold:
-Interesting thread from @qthomp of short-term bearish thesis on Bitcoin mining stocks:
-Good thread on EigenLayer and the restaking narrative from @eli5_defi:
-New video from @coinbureau going over a bunch of current topics of relevance:
-New @Blockworks_ interview with macro commentator Kevin Muir:
-Parting wisdom c/o @LynAldenContact:
Conclusion
Happy Monday lads! Let’s get after it!
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.