Happy Thursday friends! Lots of stuff happening!
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):
Total Crypto Market Cap: $3.40T
QQQ (Nasdaq 100): $532.66
Gold: $3,339.70
Oil (WTI): $63.48
US 10Y Treasury: 4.391%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Once again, @QuaiNetwork is one of the most fascinating new projects in all of crypto…
It is an extremely cool new EVM-compatible, GPU-mineable, POW (proof-of-work) blockchain based around the idea of tokenizing computing energy…
“Quai
Quai is a deflationary coin – its supply growth slows over time, making it suitable as a store-of-value (think digital gold).
It operates on an EVM-compatible model, so it can be used with smart contracts and DApps.
Qi
Qi is a coin designed to be stable and linked to the cost of energy. It's designed to be used as a unit-of-account and medium-of-exchange.
Qi is based on a UTXO model (like Bitcoin), which helps with scalability and transaction efficiency.
Together, Quai and Qi aim to cover the three foundational roles of money: store-of-value, medium-of-exchange, and unit-of-account.
…Quai Network’s dual-ledger model is designed for a decentralized future where users and miners have more control. Whether you're looking to hold long-term value or transact frequently, Quai and Qi provide the tools to do both, backed by real economic logic and energy…”
Learn more about their new QUAI/QI Conversion Dashboard in the tweet below, make sure to follow them on Twitter for more updates, and stay tuned as we continue shining a light on everything they are doing!
Biggest TVL Movers + Other Interesting Data
Chains are mixed today. Best-performing top 25 chain on the weekly is Unichain (#15) at +21.44%.
Protocols are also mixed today. Best-performing top 50 protocol on the weekly is Euler DAO (#49) at +13.07%.
Here’s The Top 12 Best-Performing Chains By TVL On The Weekly With At Least $1M TVL: (from @DefiLlama):
Here’s The Top 12 Best-Performing Protocols By TVL On The Weekly With At Least $1M TVL: (from @DefiLlama):
Here’s The Top 10 Entities By 24 Hour Revenue Generation (from @DefiLlama):
Bitcoin Fear/Greed Index:
(from @BitcoinFear)
Top Yield Opportunities
(Note! This section is brought to you by our Official Sponsor @upshift_fi! We will include some of their top yield opportunities below as well some of the top ones from sorting on @DefiLlama (single-exposure, no-IL, $25M+ TVL) - note: the DefiLlama ones are just pulled from the raw data, so make sure to always DYOR!)
-11.49% APY on Avalanche AUSD strategy - managed by MNNC Group - with additional 5x Bonus Points - via Upshift (click here)
-30.00% APY on Injective USDT strategy - managed by MNNC Group - with additional 5x Bonus Points - via Upshift (click here)
-30.00% APY on Sylva concentrated liquidity strategy - managed by Sylva(dot)money - with additional 5x Bonus Points - via Upshift (click here)
-8.30% APY on rsETH strategy - managed by Edge UltraYield - with additional 5x Bonus Points - via Upshift (click here)
-Varied and massive HyperEVM airdrop exposure on Hyperbeat Ultra HYPE vault - managed by Edge UltraYield - with additional 5x Bonus Points - via Upshift (click here)
-16.22% APY on USDS on Yearn h/t DefiLlama research
-12.68% APY on GHO on Aave V3 h/t DefiLlama research
-10.39% APY on USDO++ on Usual h/t DefiLlama research
-9.96% APY on USDC on Stream Finance h/t DefiLlama research
-9.55% APY on USDC on Goldfinch h/t DefiLlama research
Check out the full list of Upshift yield opportunities here or by clicking the banner below!
New Projects
(note: this includes new projects we find through combing Twitter each day and going through newly launched protocols added by @DefiLlama, limited primarily to new projects that have at least some TVL or are followed by at least some of our mutuals… Disclaimer: these are not pre-vetted by us so make sure to DYOR!)
-New project called @mangodotfun. Twitter bio states “Applications for User Designed Algorithms & Automated Trading.” Followed by 8 of our mutuals. h/t @twindoges:
-New project called @tryliquidxyz. Twitter bio states “Get Liquid.” Followed by 48 of our mutuals. h/t @twindoges:
-New project called @ClipStake_X. Twitter bio states “Pay-per-view marketplace connecting content creators with brands on chain. Backed by @AllianceDAO and @SuperteamBLKN”. Followed by 12 of our mutuals. h/t @AresLabs_xyz:
-New project called @Terminal_fi. Twitter bio states “The liquidity hub for trading institutional assets and reward-bearing digital dollars, powered by @convergeonchain.” Followed by 3 of our mutuals. h/t @AresLabs_xyz:
Important News And Analysis
-Circle IPO’d today, oversubscribed and to much attention, h/t @Tyler_Did_It:
-Interesting analysis that if you applied the Circle P/E ratio to Tether (issuer of USDT) its valuation would be $660B, h/t @0xg00gly:
-Are stablecoins “Starlink for money”? h/t @nic__carter:
-Sonic’s upcoming airdrop will apparently be 25% liquid and 75% vested, h/t defi news from @TheDeFinvestor:
-Next Curve/$CRV emissions reduction coming up in August, h/t @CurveCap:
-$TAO/Bittensor now up to more than 110 subnets, good thread on some of the most interesting ones from @0xPrismatic:
-Fastest-growing projects on Twitter/X over the last seven days were experimental Kaito-based project @stayloudio, Monad-affliated NFT(?) project @overnads, and InfoFi Kaito-competitor @wallchain_xyz, h/t @_dexuai:
-Interesting Coinbase analysis both positive and negative from @EffortCapital, that the value of its venture portfolio may be seriously underestimated but that it also seems to be losing its moat to Robinhood and etc:
-The timelines is absolutely filled lately with stories of social engineering attacks and malware and other stuff so remember to be hypervigilant about security hygiene and opsec and etc, h/t @crypthoem:
-New adoption story re: JPMorgan is generating lots of positive attention, h/t @WuBlockchain:
-Seeing a number of smart accounts we follow express bullish thoughts lately on $RAIL/Railgun, h/t @hmalviya9:
-Reminder that the ETH Milan Conference is coming up later this month and @0xAtomist and @francescoweb3 will be speaking at it (check out @eth_milano below for more info on the conference - we have agreed to help shine a light on this to make sure people know about it, though we’re not getting paid to do so we should note, just doing it because its friends of ours and sounds wholesome):
-New interview with @blknoiz06 from @notthreadguy:
-New Q&A video from macro gigabrain @LukeGromen:
-New guide to the HyperEVM ecosystem and potential airdrop(s) from @Grantblocmates:
-There is no resource on earth as valuable as time - parting wisdom from @DidiTrading:
Conclusion
Have a great Thursday and stay alert out there good frogs!
And please RT/subscribe/etc if you found this valuable!
-
-
-
-
***Note On Material: The ‘Spotlight’ and ‘Note’ sections and info on our Official 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.