The Daily Degen- January 17th, 2024

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

Jan 17, 2024

Happy Wednesday friends!

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: $2030.40

Oil (WTI): $71.07

US 10Y Treasury: 4.071%

Stocks ($SPY as proxy): -0.37%

Biggest Price Movers

(From @coingecko top 1000, by 24 hour change)

Spotlight

We at the Daily Degen believe that 2024 will be the year of the 'Airdrop Meta', and have been utilizing lots of projects that are presumed to be doing an airdrop!

Here's a running list of all the projects we've been trying out for this purpose along with referral links when applicable if you'd like to support our work! (note: as always please DYOR though!)

@phantom wallet - rumored airdrop

@rainbowdotme wallet - earn 'points' for presumed airdrop, start new wallet or migrate old MM wallets over to it - our reflink: https://rainbow.me/points?ref=SZUR3U

@MetaMask - long rumored to be doing an airdrop - do swaps and bridging using the in-app options in case they use that as main criteria for potential airdrop

@DeBankDeFi and the DeBank L2 - rumors of possible airdrop, also same folks behind @Rabby_io wallet

@Parcl - a Solana RWA project where you can long/short various real estate markets or provide liquidity - earn boosted points for (presumed) airdrop with our code: thedailydegen

@BungeeExchange - NOTE: BUNGEE SUFFERED AN EXPLOIT YESTERDAY DO NOT USE UNTIL THEY FIGURE EVERYTHING OUT… (see Security Alerts section below)… Also please remember to revoke approvals and unless you are an absolute wizard with the on-chain stuff please consider spreading your funds across a wide number of wallets to minimize risk… the entire premise of airdrops is that you are basically getting incentivized to stress-test the frontiers of on-chain experimentation, so its crucial you are extremely purposeful with your opsec in that regard…

@JumperExchange - bridge to potentially qualify for LayerZero and other potential airdrops

@Hyperliquidx - note: this is a very cool new perps dex we’re a big fan of - is an appchain model so you just deposit $USDC directly onto it from Arbitrum, then trade and/or deposit TVL to earn points for their (presumed) airdrop... https://app.hyperliquid.xyz/join/REKTDIOMEDES

@aevoxyz - another cool appchain perps dex presumed to be doing an airdrop... https://app.aevo.xyz/r/Nervous-Grand-Schiff

@azuroprotocol - GambleFi project with (presumed) airdrop, deposit TVL such as USDT via Polygon

@JupiterExchange - Solana protocol with rumored large airdrop coming

@MeteoraAG - liquidity/yield protocol on Solana

@DriftProtocol - perps dex on Solana

@LineaBuild - ETH L2 presumed airdrop

@MantaNetwork - another L2 now ongoing airdrop

@KelpDAO - EigenLayer restaking protocol - lets you earn towards presumed EigenLayer airdrop and also earns you 'Kelp Points'

@RenzoProtocol - another EigenLayer restaking protocol - reflink: https://app.renzoprotocol.com/?ref=0x39058c94a6c6504917dd8baddbbda27c8d6a5794

@EtherFi - another EigenLayer restaking option

Note: And here's some other projects/services/etc we are huge fans of as well!

-Revelo Intel (institutional grade defi research + great free newsletter!) https://revelointel.com?aff=242 and discount code DEGEN10

-GMX: https://gmx.io/?ref=thedailydegen

-Gains Network - https://gains.trade/referred?by=thedailydegen

-Mux Protocol - https://app.mux.network/#/ref/THEDAILYDEGEN

-HMX - https://hmx.org/arbitrum/referral?ref=THEDAILYDEGEN

-RabbitX - https://app.rabbitx.io/?ref=REKTDIOMEDES

Biggest TVL Movers + Else

Chains are mixed today. Top 50 chains up at least 30% on the weekly include Sui (#13), PulseChain (#15), ICP (#31), and Injective (#46).

Protocols are also mixed today. Protocols with at least $10M TVL up at least 200% on the weekly include Injective dex Dojoswap, Injective dex Sonic, ETH/EigenLayer restaking protocol Renzo, and FSC dex RosSwap.

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!)

-New project called @inscribe_app. Twitter bio states “Inscribe is your key to the world of inscriptions. The first cross-chain marketplace (BRC20 + every chain). Automated WebApp + Bot. Multichain Indexer API.” Followed by 31 of our mutuals.

-Something new called @Euclidfi. Twitter bio states “Building Omnichain Liquid Restake Assets, the simplest way to restake your ETH and liquid ETH to @eigenlayer”. Followed by 14 of our mutuals.

-Something new called @allo_xyz. Twitter bio states “Real world asset DeFi Backed by @chainfundcap”. Followed by 3 of our mutuals. h/t @thealphadigest:

-New EVM project called @TrenFinance. Twitter bio states “Unlocking liquidity for over 100+ assets with trenUSD”. Followed by 3 of our mutuals. h/t @thealphadigest:

-Something new called @pry_finance. Twitter bio states “Pioneering privacy-centric services on Ethereum, we redefine service ecosystems with a transformative focus on privacy. Launching in January 2024!” Followed by 2 of our mutuals. h/t @thealphadigest:

-Something new called @azurance_fi. Twitter bio states “Decentralized Insurance. 🥇 Winner of the DeFi and Payment at Constellation a @chainlink hackathon”. Followed by 2 of our mutuals. h/t @twindoges:

-Something new called @BitLayerLabs. Twitter bio states “The First Bitcoin security - equivalent Layer2 based on BitVM”. Followed by 3 of our mutuals. h/t @twindoges:

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!

-There was an exploit of bridge infra from @SocketDotTech/@BungeeExchange yesterday, h/t @spreekaway and @peckshield:

Top Stablecoin Yields

(note: these are the top Stablecoin Yields, sourced from @DefiLlama (all types, $10M+ TVL) 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)

-Cantor CEO Howard Lutnick's comments vouching for Tether’s $USDT being backed generated much attention yesterday, h/t @nic__carter:

-Some of the best analysis we’ve seen so far on the effects of the ETF’s on markets/flows/etc, from @DeFiMann:

-More good ETF info (click to rest rest of thread) from @TardFiWhale, who has been covering the ETF stats/volumes/etc closely on his Twitter page since they launched last week:

-And more ETF stats/volumes, from @EricBalchnuas:

-Unibot and trading bots in general seem to be getting renewed attention on the TL, h/t interesting stat below from @mhonkasalo:

-Thoughts on macro/fiscal dominance from @FedGuy12 and @concodanomics:

-ETH tech update from @sassal0x:

-$USDT market cap at record highs, h/t @LeonWaidmann:

-Good zkSync airdrop guide from @zerototom:

-Wise sentiments c/o @danblocmates:

-New video on Celestia from @TaikiMaeda2:

-New macro interview with Michael Howell from @Blockworks_:

-New interview with @Fiskantes from @DefiantNews:

-New interview from macro gigabrain @LukeGromen from Palisades Gold Radio:

-Good new crypto video from @ThorHartvigsen:

-Parting wisdom c/o @Pentosh1:

Conclusion

Have a great Wednesday friends and stay alert out there!

And please RT/subscribe/etc if you found this valuable!

***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.