Crypto Daily Digest - December 3rd

TI Research

XY Finance will be launching the initial DEX offering (IDO) on December 9th on the Copper Launch platform. NFT auction protocol on Solana Brunt Finance launched the Spark incentivized testnet on Dec 2nd. Proteus | Burnt | Component | Orion | Platypus | Efficient Frontier

IDO/Airdrop

GalaXY Kats Holders to Share 100,000 XY Token Airdrop

XY Finance will be launching our initial DEX offering (IDO) on December 9th on the Copper Launch platform, a launchpad powered by Balancer Liquidity Bootstrapping Pools (BLBP). To reward early adopters of GameFi & NFT project, GalaXY Kats, XY Finance decided to airdrop 100,000 XY Tokens to GalaXY Kats holders. The airdrop will occur after the IDO, which begins on December 9th, 2021. A total of 100,000 XY Tokens will be airdropped. All GalaXY Kats holders will receive an equal share of the airdrop, besides Blendy, as they have a unique Token Airdrop Boost utility. Source

DeFi

How To Participate in The Olympus Proteus Incentive Program

Proteus is a liquidity incentives program proposed in OIP-45. The goals of this program are to rapidly bootstrap liquidity on new chains and simulate Olympus’ performance on each one. This data will guide the DAO in its long-term cross-chain decisions. Users can make their gOHM holdings available to provide liquidity for the supported chains, which will soon be supported by: Arbitrum, Avalanche, Fantom, Harmony, Moonriver, Optimism, Polygon, Solana, and Terra. If you are staked on ETH, you first need to acquire gOHM. The first Proteus-supported chain is AVAX. It is already rewarding liquidity providers in partnership with Traderjoe. Source

Burnt Finance Launches the Spark Incentivized Testnet

NFT auction protocol on Solana Brunt Finance launched the Spark incentivized testnet on Dec 2nd. With a total $20,000 prize pool the competition will be held for one week, from Nov 30, 2021 at 12:00 PM EST (5:00 PM UTC), to December 7, 2021 at 12:00 PM EST (5:00 PM UTC). Source

Component launches Yield Token Compounding Tool Built on Element Finance

Component, a decentralized financial data company, has now launched a compound interest calculation tool based on yield tokens (YTC), according to an official disclosure from Element Finance. Component is a data-driven decentralized finance company that makes DeFi investment strategies across all protocols, chains, and L2s simpler by using an optimize-first approach. The yield token compounding product is the first of many tools to come and showcases how complex DeFi strategies can be simplified and accessible to all. For more information, please see the following link. Source

Arbitrum RPC Lives on Ankr Protocol

The Ankr Protocol’s public RPC toolbox is now available from Arbitrum developers. They will be able to access an Arbitrum Public RPC, make requests calls, and receive information returns that will mirror the results they would get by running an Arbitrum full node themselves. Source

Katana, The Yield Generation Protocol for Solana, Published Doc Details

The Solana hackathon winning project Katana has revealed its latest Doc. The main announcement is that the protocol provides a set of packaged yield products across risk levels, enabling users to passively access the best risk-adjusted yields in the ecosystem. By packaging complex strategies into a vault, Katana makes it simple for anyone to deposit as many Vaults as they want and start earning their returns. Source

Document Details: Source

Orion Money is Live on Polygon

Orion Money is a cross-chain bank for stablecoins, which provides saving, lending, yielding, and insurance services for stablecoins. It has deployed on Ethereum, BSC, and Terra, and now supports Polygon as well. Source

Funding

Platypus Closed $3.3 Million in a Funding Round Led by 3AC and Defiance Capital

Platypus, the AVAX-native StableSwap, has closed a $3.3 million funding round led by Three Arrows Capital and DeFiance Capital, with participation from 0xVenturesDAO, Avalanche, Avalaunch, and others. Previously, Platypus received a grant from the Avalanche-X program to launch Avalanche's native StableSwap with an open one-sided liquidity pool and to improve its scalability and funding efficiency. In addition, Platypus launched its Alpha mainnet on Avalanche on November 29. Users can swap between USDT, USDC, DAI and MIM with low slippage, and also provide liquidity for the aforementioned stablecoins. Source

Efficient Frontier Closed Multi-Million Dollar Funding Round with Alameda Research and Others

Cryptocurrency market maker Efficient Frontier announced that it has closed multi-million dollar funding round with participation from Alameda Research, Animoca Brands, Kyber Ventures, and others for an undisclosed amount. The funds raised will reportedly be used to expand the R&D team in order to optimize the company's structure and drive its growth. Source

Maven 11 Capital Closed $120M Fund

Blockchain and digital asset investment firm Maven 11 Capital has closed a $120 million fund, its second crypto-focused fund. The fund will back infrastructure protocols, decentralized finance (DeFi) open-source protocols and Web 3 applications. Maven 11 Capital has previously backed layer 1 data firm Celestia, digital asset custody company Qredo, privacy-focused infrastructure firm Nym Technologies and creditworthiness protocol Spectral Finance. Source

Readings

  • Vitalik update on the latest development progress of Ethereum: Source
  • Hased's summary on investing in GuidFi: Source

Podcast (With Video)

Not3Lau Capital: Hunting for Alpha, Finding Your Tribe, and Working Effectively With Founders: Source

Olympus

DeFi

NFT

TI Research

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