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- #15 The Sixth Sense - 8th June, 2023
Welcome to the 14th issue of The Sixth Sense. Letβs figure out the major events, catalysts, narratives brewing in the on-chain ecosystem
No Worries!
On-chain Metrics, statistics and standings:
TVL declined in the on-chain ecosystem:
All major ecosystems witnessed a decline the cumulative TVL declining by 2.75% to $45.3B in the last 24 hours:
(Source: https://defillama.com/chains)
Money flow in the on-chain ecosystem:
Binance Smart Chain (BSC), Polygon POS, NEAR gained TVL by money flowing into their ecosystem while Ethereum, Bitcoin and Axelar Chain being the major exporters:
(Source: https://cryptoflows.info/)
Upcoming Token Unlocks:
Some big unlocks lined up for HOP protocol, Aptos, Paraswap tokens in the next 10 days:
(Source: https://defillama.com/unlocks)
Ethereum Money Supply:
Etheruem continues itβs deflationary model with 550 ETH being burned (net) in the last 24 hours:
(Source: https://ultrasound.money/)
Moving on to the major events in the on-chain economy:
Koryo on Game-Fi picking up as the new narrative in town:
Saturday alpha from the narrative Dune dashboard (check pinned message):
In the last 10 days, the Game-Fi narrative has outperformed all others, with the steepest uptrend change
Your task: Go figure out why. Then possibly ape if you are convinced there is something real behind
β Crypto Koryo (@CryptoKoryo)
6:55 PM β’ Jun 3, 2023
Weekly Alpha to keep track:
The latest developments in DeFiπ
β The DeFi Investor π (@TheDeFinvestor)
5:35 PM β’ Jun 1, 2023
Some hot Token Narratives:
Token narratives I'm watching right now (June Edition):
ETH/LSDs - $LBR, $PENDLE, $SOMM (Raft, Prysm, f(x) wen live): LSD backed stable-coin meta
Arbitrum - $GMD, $GHA, $PENDLE, $EQB, $VELA, (Penpie wen live) : GMD ecosystem and Pendle Wars
Optimism - $VELO, $SNX: Bedrockβ¦ twitter.com/i/web/status/1β¦
β Prithvir (@Prithvir12)
2:44 PM β’ Jun 7, 2023
Rollup Economics 101:
1/ We witnessed the frenzy of the Optimism and Arbitrum airdrops.
Now it's time to ask the tough questions.
Are L2 tokens just worthless governance tokens? Or can L2s accrue real value?
Let's dive into rollup economics π§΅π
β Sanjay Shah β‘οΈ (@sanjaypshah)
4:03 PM β’ Jun 7, 2023
Major Assets getting delisted from Binance:
Just In: Binance US will remove hundreds of trading pairs including AAVE/USDT AXS/USDT BCH/USDT ATOM/BTX DOT/BTC UNI/BTC and paused OTC Trading Portal.
support.binance.us/hc/en-us/articβ¦twitter.com/i/web/status/1β¦β Wu Blockchain (@WuBlockchain)
4:26 PM β’ Jun 7, 2023
Mantle Ecosystem:
A $3BN treasury backing a modular layer 2 scaling solution for Ethereum
Mantle Network mainnet is rapidly approaching and @0xMantle are confirming that the treasury will be backing the Mantle ecosystem through a @BitDAO_Official merger and rebrand
π§΅π
β slappjakke.eth π¦π (@Slappjakke)
1:59 PM β’ Jun 7, 2023
Level finance live on Arbitrum; other upgrades:
$LVL token is now live on Arbitrumππ§‘
The DAO proposal to bootstrap LVL liquidity for Arbitrum has passed.
$750k of DAO-owned LVL/USDT liquidity has migrated to @traderjoe_xyz on @arbitrum using @LayerZero_Labs. twitter.com/i/web/status/1β¦
β LEVEL Finance #RealYield (@Level__Finance)
4:25 PM β’ May 30, 2023
$GAMMA impact on the WETH-OP LP:
Why are DEX's integrating with Gamma Strategies?
A picture is worth a thousand words, so we'll share two pictures of the WETH-OP liquidity distribution before and after Gamma's active liquidity management.
β Gamma (@GammaStrategies)
5:15 AM β’ Jun 6, 2023
Options Market:
Perp DEXes were amongst the best performers during the bera market, with $GMX kickstarting the real-yield narrative and having some insane revenue stats
Having this in mind, and that Options are HUGE in legacy, its hard not be really bullish on how big Options DEXes can be π§΅π
β WorshipXBT (@WorshipXBT)
3:08 PM β’ Jun 5, 2023
Stader announces ETHx launch:
ETHx is coming to mainnet!
We're thrilled to share our launch and security update with you.
Here's our 3-phase roadmap to further decentralize @ethereum liquid staking,
With an inclusive, accessible & community driven solution.
http
β Stader Ethereum (@staderlabs_eth)
4:31 PM β’ Jun 5, 2023
Sports betting on BetSwirl:
π Exciting News! BetSwirl is thrilled to announce the launch of Sports Betting on @0xPolygonLabs! πβ½οΈπΎπ₯
π Bet on your favorite sports with competitive odds using $USDT
β BetSwirl (@BetSwirl)
9:24 AM β’ Jun 7, 2023
$THE Roadmap:
Revealing the Future β THE Roadmap for Next-Gen DeFi @ThenaFi_ π£οΈ
Part 1 - ALPHA
β Htomi.027 (@htomi_027)
5:30 PM β’ Jun 4, 2023
Aerodrome by Velodrome:
Prior to the Superchain going live, its primary hubs (Base and Mainnet) will need native liquidity solutions.
That is why we're excited to announce that we're partnering to build @aerodromefi on @BuildOnBase.
And veVELO lockers will be airdropped 40% of its initial supply.
β Velodrome (@VelodromeFi)
5:42 PM β’ Jun 7, 2023
Looped stETH, crvUSD:
/1 Looks like we have the first looping happening with $crvUSD using wrapped $stETH collateral.
This addy started off with 21.8 $wstETH as collateral, and grew the position to 761k crvUSD and 381 wstETH.
β DefiMoon π¦π (@DefiMoon)
4:18 AM β’ Jun 8, 2023
RabbitX increasing trade volumes:
RabbitX surpassed MUX in volume at $8.5M and did $7.63M the day prior. grinding.
next up: synthetix and gains network. dydx is the final boss
I wouldn't bet against this team. here's hoping every single one of these DEXs crushes it though. we all need to win for DeFi to win π€
β π±ππππ’ πΆπππππππ (vietnam farmer) πͺ· (@BackTheBunny)
6:14 AM β’ Jun 5, 2023
ZigZag launch on zkSync Era:
Can't wait for ZigZag's launch on @zksync Era?
Well, hopefully soon!
While Era's development is still in progress, it will soon support the full functionality of ZigZag as an order book DEX.
Keep in mind that it is still early phases for this disruptive ZK-Rollup.
β ZigZag Exchange (@ZigZagExchange)
12:34 PM β’ Jun 7, 2023
NewOrder DAO monthly update:
Monthly Recap: May 2023
Key updates around the New Order Ecosystem below (1/15) : twitter.com/i/web/status/1β¦
β New Order (@neworderDAO)
4:49 PM β’ Jun 7, 2023
Gearbox DAO Monthly update:
In our endeavour to ensure transparency and to keep the DAO updated of the developments, here's the May issue of our DAO Update. Featuring V2.1, key governance updates, Leverage Trading dApp and more. βοΈπ§°
Read here:
β Gearbox Protocol βοΈπ§° (@GearboxProtocol)
2:51 PM β’ Jun 3, 2023
Promising VC funded projects:
There are so many projects in the crypto space.
Itβs hard to find the 100x ones early.
Here are 9 promising projects in which VCs have invested.
A threadπ§΅
β MooMs (@Moomsxxx)
5:23 PM β’ Jun 7, 2023
$PENDLE and Ecosystem plays:
Money is flowing back into $ARB.
Maybe you've seen $PENDLE pumping and want to get in?
The real play here is backing Pendle ecosystem projects that can offer much bigger returns.
For example, may I suggest a read of these π§΅'s on the #LSDfi potential of $EQB @Equilibriafiπ
β cr.zilla (ββΏβ) (@cr_zilla)
11:57 AM β’ Jun 7, 2023
Quality Alpha shared by Andrew:
If you want to make money in the current market you should pay attention to new Arbi and LSDfi launches (low caps only + strong catalysts)π
Here is what I am personally playing atm β¬οΈ
β Crypto Andrew βοΈπ§ (@Crypt0_Andrew)
5:00 PM β’ Jun 7, 2023
Moving to cover updates from other ecosystems:
Fantom Foundation and their achievements in the past 2 weeks:
The past 2 weeks on #Fantom! π
πΉ Gas Monetization is LIVE β 14 projects are now earning passive income from their dApp! β½
πΉ Over $300k in prize value, enter the #FantomHackathon π
πΉ 10,000,000 $FTM have been burned for good π₯
More inside: fantom.foundation/blog/fantom-geβ¦
β Fantom Foundation (@FantomFDN)
2:16 PM β’ Jun 5, 2023
Akash Network community updates:
This week in the Akash community, don't miss progress updates on $AKT 2.0 from the Economics group β as well as meetings of the Blockchain, Support, and Analytics groups.
Here's the full schedule for this week:
sig-chain
π Tuesday, June 6th, 4-5PM UTC
Link to join:β¦ twitter.com/i/web/status/1β¦β Akash Network (@akashnet_)
2:38 PM β’ Jun 5, 2023
Shardeumβs roadmap to Mainnet:
Roadmap to mainnet β‘οΈ
Tune in to get the latest quarterly updates from Shardeum committers & take a sneak peek into the feature-driven roadmap to mainnet launch. #Bui#BuildWeb3tweet & register ‡οΈ
https://β Shardeum (@shardeum)
10:45 AM β’ Jun 6, 2023
Kujira Ecosystem:
What opportunities are currently present in the $KUJI Ecosystem?
Let's have a look at some:
1) Juicy APR on $USK Lending - 24% At time of writing.
(Note: these are dynamic rates and fluctuate)
2) Time to get some ORCA Bids in?
There's multiple markets at risk forβ¦ twitter.com/i/web/status/1β¦
β Altcoin Gold (@Altcoin_Gold)
8:12 AM β’ Jun 8, 2023
Some updates on the zkEVM (Polygon):
Top 8 Projects by TVL on Polygon zkEVM
Polygon zkEVM is a new zk-rollup that provides Ethereum Virtual Machine (EVM) equivalence for a transparent user experience. Explore the leading protocols on Polygon zkEVM by Total Value Locked (TVL). twitter.com/i/web/status/1β¦
β CryptoRank Platform (@CryptoRank_io)
4:12 PM β’ Jun 7, 2023
And thatβs a wrap for the today. The Sixth Sense is a reader supported project. Consider subscribing to our newsletter to receive our daily dose of alpha in your inbox.
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