Crypto Daily Digest - November 17th

TI Research

Rari Capital Founder Launches Proposal to Merge $RGT and $TRIBE. Tokemak C.o.R.E. 2. Voting closed. Tempus is launching the $TEMP FAIR LAUNCH AUCTION on the Copper platform through a Balancer LBP. TrueFi | Saddle | PoolTogather | Genie | CyberConnect

DeFi

Tokemak C.o.R.E.2. Voting End Today

On November 17, Tokemak C.o.R.E. 2. Voting closed and the five new winning projects were: FOX — Shapeshift, VISR — Visor, SNX — Synthetix, ILV — Illuvium, APW — APWine. Similar to the end of the first C.o.R.E., Tokemak will be contacting the DAOs/teams of the winning Reactors to pursue governance for a DAO 2 DAO swap to collateralize their Reactors and set up their reserves. $TOKE staking/allocating votes to a specific Token Reactor will begin November 23rd. This will give Liquidity Directors the ability to experience the full APR incentive system prior to active liquidity deployment, so use that opportunity to familiarize yourself with how the mechanics work (re: balancing the Reactors). A Medium post with more details on UI updates will be forthcoming. Source

PoolTogether Is Proposing A Partnership with FEI/Ondo LP Service

Lottery and saving protocol Pooltogether is proposing partnership with FEI and Ondo to increase POOL liquidity and start earning TRIBE tokens in the PoolTogether protocol. The liquidity service FEI/Ondo provide will help Pool in the following things:

  • A low cost way to increase POOL liquidity on Uniswap V2
  • An opportunity for the protocol to begin accruing TRIBE and activating otherwise dormant POOL tokens (around ~43% APR distributed in Tribe tokens)
  • A partnership with a leading protocol

This proposal would significantly improve liquidity for the POOL token on Ethereum. Current liquidity is $2.8 million so adding $3 million would more than doubling it. Importantly, it would do so without needing to distribute more POOL rewards to LPs and instead the protocol would actually be increasing the controlled value by starting to earn TRIBE rewards. Source

Saddle Launches Governance token $SDL to Airdrop 15% of Total Supply to Users

automated market maker project Saddle announced the release of governance token $SDL. $SDL has a maximum supply of 1 billion tokens, 51% of which will be released to Saddle community members, of which 15% (150 million) have been allocated to Saddle historical users (tokens released over 2 years ago), and the airdrop is open to historical liquidity providers (10.5%), veCRV holders (3%), interactive addresses that invoked the Saddle contract and traded over $100 before October 1 of this year (0.5%), Multisig signatories (0.5%) and early depositors (0.5%). Currently eligible users can claim $SDL tokens, which are airdrop tokens that cannot be transferred for an initial period of 3 to 6 months, after which transfers can be enabled by governance vote with a two-year unlock period. In addition, Saddle will distribute 22.5% of the tokens to investors, 25.9% to team members and 0.6% to advisors. Previously, in the middle of this month, Saddle announced the closing of a $7.5 million funding round led by Polychain and Electric Capital, with participation from Nascent and Project Galaxy, among others. Source

TrueFi V5

TrueFi is a decentralized uncollateralized lending protocol deployed on Ethereum. The protocol originally supports uncollateralized debt for three stablecoins: USDT, USDC, and TUSD. Now it introduces TrueFi V5 which mainly contains improvements for 3 aspects:

  • Opening TrueFi to 3rd party asset managers who will construct entirely new lending pools, servicing brand new types of borrowers.
  • Automating Loan Rating.
  • Launching $BUSD lending pool. Source

Tempus' Copper Balancer LBP Is Alive

Fixed interest rate protocol Tempus is launching the $TEMP FAIR LAUNCH AUCTION on the Copper platform through a Balancer LBP. Source

Rari Capital Founder Launches Proposal to Merge $RGT and $TRIBE

Rari Capital co-founder Jai Bhavnani has launched a proposal in the community to convert $RGT to $TRIBE in the same amount as it is denominated in USD, in addition to using $FEI to repay victims of previous Rari Capital hacks. After the merger, Fei Protocol will give incentives to Rari's Fuse pool, but the two communities remain separate but work together to build the Tribe community. Source

NFT/GameFi

Introducing Genie: The Metaverse’s Aggregator

NFT marketplace aggregator on Ethereum, Genie Swap goes alive. At the beginning, Genie supports ERC-721s on OpenSea, NFTX, NFT20 and Rarible. Two major features that Genie has brought to users: batch transaction and multi-platform listing. Users will be able to buy or sell NFT / NFT batches in multiple platform in one single transaction. Source

Fundings

CyberConnect Closed $10 Million Seed Round Led by Multicoin Capital and Sky9 Capital

CyberConnect, a crypto startup developing tools for Web3 social media, gaming and metaverse applications, has closed a $10 million seed round led by Multicoin Capital and Sky9 Capital, with participation from Animoca Brands, Draper, Dragon, Hashed and others. In addition, CyberConnect is launching the decentralized social graph protocol, which is a social graph of people's relationships on platforms like Twitter, Facebook and Instagram. The protocol will help Web3 developers more easily build applications such as social media, games and metaverse. Source

Liquid Staking Protocol pSTAKE Closed $10 Million Strategic Financing

pSTAKE, a liquidity pledge protocol, announced the closing of a $10 million strategic funding round led by Three Arrows Capital, Galaxy Digital, Sequoia Capital India and DeFiance Capital, with participation from Coinbase Ventures, Tendermint Ventures, Alameda Research, and others. pSTAKE was developed by the team behind Persistence, an interoperable proof-of-stake (PoS) protocol powered by the Tendermint BFT consensus algorithm. pSTAKE's multi-chain technology stack currently supports Cosmos, Ethereum, and other Tendermint-based blockchains. Source

Ethereum Layer 2 Developer StarkWare Closed $50 Million in Funding

StarkWare, an Ethereum Layer 2 developer using ZK-rollups technology, has raised $50 million in a Series C funding round and is now valued at $2 billion. The round was led by Sequoia Capital, with participation from existing investors, including Paradigm, Three Arrows Capital, Alameda Research, and Founders Fund. StarkWare finished its $75 million Series B funding round in March. Source

Readings

The view from BitMEX founder Arthur Hayes about the macro economy and crypto markets. Source

DeFi

DEX

TI Research

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