Happy Sunday good degens!
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: $3.08T
QQQ (Nasdaq 100): $488.83
Gold: $3,347.40
Oil (WTI): $58.29
US 10Y Treasury: 4.308%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
The team at @GammaSwapLabs is one of the most technically-advanced and sophisticated in all of crypto, and we are extremely proud to be helping shine a light on everything they are shipping!
GammaSwap is a relatively new project and is responsible for some of the only true new defi primitives that have come out in the last year…
Their tech allows users to trade perpetual options, hedge impermanent-loss, utilize all sorts of advanced defi yield strategies, and to actually take advantage of and benefit from the complex and often difficult to use concentrated-liquidity AMM’s that have become increasingly ubiquitous across the defi landscape…
Regarding the latter:
“GammaSwap solves [the concentrated-liquidity complexity issue] by packaging CL liquidity into simple, composable, spot-like yield tokens that:
• Abstract away complexity
• Hedge IL automatically
• Eliminate the need for manual rebalancing”
Learn more about their new yield token technology in this thread, and stay tuned as we continue to bring updates on all the insane gigabrainage they are pumping out!
Biggest TVL Movers + Other Interesting Data
Chains are quite red today. Best-performing chains by TVL growth on the weekly with at least $25M TVL are Flare, Unichain, and Etherlink.
Protocols are mixed today. Best-performing protocols by TVL growth on the weekly with at least $25M TVL are uncategorized multichain protocol Tangible, CORE yield aggregator protocol Nawa Protocol, uncategorized Flare protocol SparkDEX, Aptos dex Hyperion, and Flare lending protocol Kinetic.
Here’s The Top 12 Chains By TVL (from @DefiLlama):
Here’s The Top 12 Protocols By TVL (from @DefiLlama):
Here’s The Top 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)
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!)
-13.15% APY on Multipli Upshift USDC - managed by August Digital - with additional 5x Bonus Points - via Upshift (click here)
-27.00% APY on USDC Sylva concentrated liquidity strategy - managed by Sylva(dot)money - with additional 5x Bonus Points - via Upshift (click here)
-10.80% APY on rsETH strategy - managed by Edge UltraYield - with additional 5x Bonus Points - via Upshift (click here)
-27.00% APY on Upshift Avalanche AVAX strategy - managed by MNNC Group - with additional 5x Bonus Points - via Upshift (click here)
-40.80% APY on IUSD on Indigo (Cardano) h/t DefiLlama research
-11.23% APY on GHO on Aave V3 h/t DefiLlama research
-12.19% APY on USDO++ on Usual h/t DefiLlama research
-10.86% APY on SUSDE on Echelon Market (Aptos) 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 connected with @QuaiNetwork called @kippermoney. Twitter bio states “Monetize your X content.” Followed by 4 of our mutuals. h/t @QuaiNetwork and @ChristopherNFGG:
-Something new called @flock_off_sn96. Twitter bio states “FLock Open Federated Framework: a Bittensor subnet #SN96, made by @flock_io , accelerated by @YumaGroup”. Followed by 3 of our mutuals. h/t @AresLabs_xyz:
Important News And Analysis
-Next Fed interest rate decision is this Wednesday, with market currently pricing in a near certainty that the Fed will leave rates unchanged, h/t @KobeissiLetter:
-Next Coinbase earnings call is coming up later this week and some Hyperliquid updates are going live Monday May 5th, h/t @TheDeFinvestor:
-Warren Buffet announced his retirement yesterday, h/t @fejau_inc and @JackFarley96:
-Comments from Buffet on the US Dollar also generated lots of debate, example c/o @iamDCinvestor below (we agree with him on short-term dollar devaluation but think the longer-term picture is still hard to decipher):
-Seeing lots of chatter in macro circles about distress in private credit markets, h/t @JackFarley96 and @sonalibasak:
-@Calderaxyz now generating lots of attention as they gear up for their TGE and activate their Kaito leaderboard, h/t @TimHaldorsson:
-Am seeing a lot of excitement around $TAO/Bittensor Subnet 14 right now on the TL, examples c/o @sobczak_mariusz and @CreativeBuilds:
-The airdrop meta rolls onward, with Kaito being a larger and larger part of it, h/t @DidiTrading:
-Interesting thoughts on stablecoin neobanks and L1’s, from @litocoen:
-Apparently little discussion of memecoins in Dubai last week, h/t more interesting insights from the conference c/o @CryptoSam01:
-Where will the value accrue from stablecoin adoption? h/t @proofofnathan:
-Weekly macro summary from Joseph Wang @FedGuy12:
-New roundtable discussion from the @coinbureau channel:
-New macro video from ‘Dollar Milkshake Theory’ originator Brent Johnson @SantiagoAuFund (aired one hour ago):
-New @DeFi_Dad interview with @kinetiq_xyz co-founder @0xOmnia:
-New livestream from Rob from Digital Assets New (aired fourteen hours ago):
-“The trenches have forgotten how to dream…” - parting thoughts from @MikeIppolito_:
Conclusion
Happy Sunday friends! Rest up for the big week ahead! :)
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 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.