Happy Saturday friends! Weekends are for getting after it let’s go!
Stats/alerts/etc at top and tweets/news/links/videos/etc at bottom!
[Note: As always all tweets are hyperlinked so just click on them to pull them up on Twitter!]
Market Update
Crypto (from @CryptoBubbles24):
Gold: $1,960.90
Oil (WTI): $77.07
Stocks (from:@News4Moves):
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Attention good frogs! If you like abject defi gigabrainage then make sure to check out @Spiral_DAO - a whipsmart new protocol we are going to be helping bang the drum about!
Spiral DAO is focused on the liquid wrapper, yield farming, vote incentives markets, and VeTokenomics side of the defi world… and they are rolling out some extremely interesting innovations in those areas!
To quote the team directly:
“Having the first on-chain hedge fund-like operational model, Spiral DAO employs unique treasury rebalancing mechanisms and tokenomics to utilize inefficiencies within the vote incentives markets for the good of the DAO. Thereby, it provides Spiral token holders one of the highest yields in DeFi with a built-in dilution protection and decreased sell pressure across all the protocols whose tokens Spiral DAO aggregates.”
Their latest development is a liquid locker for @mavprotocol - another newer protocol that has been on fire as of late - and the details for this liquid locker are broken down in depth in @Spiral_DAO’s latest Medium article!
Also highly recommend checking out their site and following them on Twitter for more updates!
Biggest TVL Movers + Else
Chains are mixed today. Top 30 chains green on all three timelines (daily, weekly, monthly) include Tron (#2), Optimism (#6), Solana (#11), MultiversX (#20), EOS (#21), and Gnosis (#24).
Protocols are mixed as well. Top 200 protocols up at least 50% on the monthly include Synthetix (#20), Lybra Finance (#27), Marinade Finance (#42), Alpaca Finance (#47), Origin Defi (#63), EigenLayer (#78), PearlFi (#102), Solend (#118), Equilibria (#128), Spark (#131), Solv (#169), PHUX (#170), Jito (#172), and SmartDex (#184).
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 Stablecoins By Market Cap (from @coingecko):
Other Data Points
Bitcoin Fear/Greed Index:
(from @BitcoinFear)
Ethereum Fear And Greed Index
(from @EthereumFear):
Fee Generation (from cryptofees(dot)info):
New Protocols
(note: this includes new defi protocols 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 protocol called @LynexFi. Twitter bio states “The first native liquidity marketplace for tokens & DAOs on @LineaBuild. Follow us to join the $LYNX pack!”
-New protocol called @surfiio. Twitter bio states “The first native DEX Aggregator on #Linea, focusing on Layer2 ecosystem. Trading is Surfing. Enjoy the Crypto Waves.”
-Something new called @NexeraID. Twitter bio states “Solving Adoption, the biggest problem of #Web3. #SSI #Selfcustody #defi #smartwallet #accountabstraction #NexeraIDMovement”.
-Something new called @WakweliChain. Twitter bio states “A layer 1 protocol that issues certificates of authenticity for NFTs & Real World Assets (#RWA). Let's bring trust among the Web3 community 🚀🔥 #WAKU 💰”.
-Something new called @huddle_finance. Twitter bio states “Simplifying DeFi investments with automated and faster solutions 🐧🐧🐧…”
Security Alerts
-@ConicFinance suffered an exploit yesterday:
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama (minimum $1M+ 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)
Other News And Analysis
(key news, twitter threads, articles, videos, etc from last 24 hours)
-US household net worth contracting:
-Sentiments surprisingly positive though:
-NFT volume was down 35% in Q2, h/t @coingecko:
-@MakerDAO generating a lot of discussion - h/t @TheDeFinvestor and @DeFi_Cheetah:
-Razzlekhan and Lichtenstein update, h/t @CoinDesk:
-Justin Sun continues to generate lots of news coverage:
-Multichain update + article, from @eking0x and @DLNewsInfo:
-@DefiSquared dropped some alfa/analysis re: @SpookySwap, @horizenglobal, and a potential airdrop (click for rest of long tweet):
-Interesting thread from @DeFiIgnas:
-Thread from @cryptunez on several of the current crypto narratives/tokens generating discussion:
-@DeFiDave22 released an interesting + impassioned thread about stablecoins with links to a couple good ETHcc speeches on the same topic, sample from thread below:
-Excellent new weekly round-up from @BanklessHQ covering several dozen different stories/topics:
-New @GeorgeGammon interview with macro gigabrain and Bitcoin-evangelist @LynAldenContact:
-New @Ceazor7 video breaking down @LybraFinance:
-Excellent weekly roundup from @blocmatesdotcom featuring @jediblocmates and @danblocmates:
-Parting wisdom from @MikeIppolito_:
Conclusion
Have a great Saturday friends and don’t forget to touch some grass this weekend!
And please RT/subscribe/etc if you found this valuable! :)
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***Note On Material: The ‘Spotlight’ section is the only part of The Daily Degen that is sponsored/promotional. Everything else is chosen 100% organically based on what info/stories/etc seem likely to be the most newsworthy/important/valuable to reader