Happy Friday good frogs! Lots of stuff going on!
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: $2364.00
Oil (WTI): $77.99
US 10Y Treasury: 4.562%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
More yield opportunities from our friends at @InitCapital_, who just released their new $USDe Looping Hook!
This new leveraged yield opportunity utilizes the popular @ethena_labs stablecoin to provide a superior apr for all connoisseurs of high on-chain yields :)
And… it will also allow users to earn 100x Sats, 5x Blast Gold, and 7.5x INIT Points!
Once again, Init is a new project on Blast and Mantle we are helping raise awareness about who are doing much gigabrain shipping… If you are a hardcore defi enthusiast and haven’t heard of them we highly encourage you to check out this thread to learn more and follow them on Twitter for continued updates!
Biggest TVL Movers + Else
Chains are mixed today. Top 50 chains up at least 20% on the weekly include Linea (#14), Mantle (#18), and Scroll (#36).
Protocols are mostly green today. Protocols with at least $100M TVL up at least 40% on the weekly include basis trading protocol Manta CeDeFi, Blast lending protocol Orbit Protocol, and cross-chain protocol Synapse.
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):
Here’s The Top 12 Dex’s By 7 Day Volume (from @DefiLlama):
Bitcoin Fear/Greed Index:
(from @BitcoinFear)
New Projects
(note: this includes new projects we find through combing Twitter each day, and we also include or re-include every newly launched protocol added by @DefiLlama that has at least some TVL or is followed by at least some of our mutuals - hence disclaimer: these are not pre-vetted by us so make sure to DYOR!)
-Something new called @Formachain. Twitter bio states “The sovereign network for onchain creations built on @AstriaOrg with @CelestiaOrg underneath ✨” Followed by 27 of our mutuals.
-Something new on Avax called @avantprotocol. Twitter bio states “Accelerating DeFi in the @avax 🔺Ecosystem”. Followed by 8 of our mutuals. h/t @AresLabs_xyz:
-New project called @GluexProtocol. Twitter bio states “GlueX is an intent-, originator-, liquidity- and blockchain-agnostic solving ecosystem. Meeting point for dApps, originators, solvers and liquidity providers.” Followed by 4 of our mutuals. h/t @AresLabs_xyz:
-Something new called @OneBalance_io. Twitter bio states “OneBalance is a new framework for credible accounts - combining chain abstraction, gas abstraction and permission management to solve the fragmented Web3 user experience.” Followed by 21 of our mutuals.
-Something new called @mantis. Twitter bio states “Unleash the power of solana’s first restaked L2. Native yield meets chain-abstracted orderflow. Built by @ComposableFin | Powered by @picasso_network”. Followed by 12 of our mutuals. h/t @AresLabs_xyz:
-Something new called @zerodotnetwork. Twitter bio states “It all started with @zerion, now we’re building a network. Coming soon. Powered by ██████”. Followed by 6 of our mutuals.
Security Alerts
-No security alerts today.
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama (all types, $1M+ TVL 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 update c/o @fejau_inc:
-Singapore’s DBS Bank apparently owns $650M in $ETH, h/t @CoinDesk:
-Headlines c/o @TheDeFinvestor:
-Breakdown of upcoming June token unlocks, h/t @WuBlockchain:
-The ‘ZK Saga’ continues:
-Increasing speculation re: the possibility of Fed rate cuts, h/t @qthomp and @fejau_inc:
-(Related) interesting comment from member of Federal Reserve:
-Interesting thoughts from @cburniske:
-Good info from @LouRound_ on @0xMantle’s new token $COOK:
-Good thread from @bloomberg_seth on @aoTheComputer, which has been generating a lot of attention on the TL the last few days:
-Bullish thoughts from @ZachLight16:
-New episode of NFA Live:
-New interview with @jessepollak from Base via @tokenterminal:
-New video on everything Cosmos-related from @Cryptocito:
-New video on Sui from @coinbureau:
-Parting crypto-adjacent wisdom from @TheRealEstateG6:
Conclusion
Have a great Friday and stay hypervigilant out there!
And please RT/subscribe/etc if you found this valuable!
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Note
Take heed good friends… @vertex_protocol has had its Arbitrum STIP-Bridge proposal approved by the @arbitrum DAO!
This means they will now have 1.5M $ARB to be distributed as ecosystem incentives! If you would like to learn more about this then make sure to check out their (now approved) proposal and make sure to stay tuned for additional updates!
Once again, Vertex is a gigabrained perps dex and OG Arbitrum protocol… now with $100M TVL and surging volumes…
They also now provide robust cross-chain liquidity via their custom @EdgeLayer system, and are revolutionizing the perps space with this and other innovations!
If you are an active trader then make sure to get started with Vertex now, and get access to 40+ perps & spot markets + exquisite yield opportunities on their site at http://app.vertexprotocol.com - and follow them on Twitter for continued updates!
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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.