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#20 The Sixth Sense - 22nd June, 2023

#20 The Sixth Sense - 22nd June, 2023

Your daily dose of on-chain alpha.

The Sixth Sense
June 22, 2023

Welcome to the 20th issue of The Sixth Sense. Let’s figure out the major events, catalysts, narratives brewing in the on-chain ecosystem.

On-chain Metrics, statistics and standings

TVL (in the on-chain ecosystems):

^(Source:^{https://defillama.com/chains}⁾

Ethereum withdrawals post Shanghai Upgrade:

^(Source:^{https://token.unlocks.app/ethereum-shanghai}⁾

Ethereum Money Supply has increased by ~295 ETH in the last 24 hours because of low demand for blockspace:

^(Source:^{https://ultrasound.money/}⁾

Revenue Generation Trajectory for Protocols:

Gas Guzzlers - protocols that have used the maximum blockspace:

Moving on to the major events in the on-chain economy:

NFT Creation Platform Zora Launches Creator-Focused Layer 2:

coindesk.com/web3/2023/06/2…
— defiprime (@defiprime)
9:05 PM • Jun 21, 2023

DeFi infrastructure startup Maverick Protocol bags $9 million raise:

ICYMI: DeFi infrastructure startup Maverick Protocol bags $9 million raise
theblock.co/post/234187/de…
— The Block (@TheBlock__)
8:01 PM • Jun 21, 2023

Offchain Labs unveils tool to build Layer 3 'Orbit' chains on Arbitrum:

Offchain Labs unveils tool to build Layer 3 'Orbit' chains on Arbitrum theblock.co/post/235980/of…
— The Block (@TheBlock__)
1:08 PM • Jun 22, 2023

ARPA network mainnet is now on Ethereum:

Major milestone achieved in Q2! 🎉 ARPA Network's MainNet is now live on Ethereum! 🚀
We would like to extend a heartfelt thank you to our amazing community for your unwavering support. Together, we're innovating cryptographic systems to make blockchains more versatile,… twitter.com/i/web/status/1…
— ARPA Official (@arpaofficial)
2:04 PM • Jun 21, 2023

Shiba Inu Introduces ‘Shibacals’ to Link NFTs to Real-World Items; SHIB Jumps:

.@Shibtoken developers are working on a service that can be used to authenticate real-world assets as part of their Shibarium ecosystem rollout. By @shauryamalwa
— CoinDesk (@CoinDesk)
8:38 AM • Jun 22, 2023

OffChain Labs releases tooling allowing users to build their own Arbitrum Orbit Chain:

Today, we're releasing tooling that will make building your own Arbitrum Orbit chain easier than ever.
To start, we're providing a quickstart guide & tools to help you with building your Orbit DevNet chain!
🔗 start building via docs: http
— Offchain Labs (@OffchainLabs)
5:15 PM • Jun 21, 2023

CamelotDEX v3 AMM is live:

We’re excited to announce that our v3 AMM is live ⚔️
By leveraging @CryptoAlgebra’s v1.9, we’re able to relaunch our concentrated liquidity on a more battle-tested foundation.
In addition, @paraswap is also now live as the first supported aggregator.
app.camelot.exchange
— Camelot (@CamelotDEX)
12:28 PM • Jun 20, 2023

Animoca Brands' Anichess Secures $1.5M for Decentralized Chess Game:

Exclusive: @AnichessGame, a forthcoming decentralized chess game from @animocabrands in partnership with @chesscom, has raised $1.5 million in funding.
@BrandyBetz reports:
— CoinDesk (@CoinDesk)
12:02 PM • Jun 22, 2023

OSMO 2.0:

Welcome to an upgraded Osmosis. 🧪
Paving the way towards a sustainable liquidity hub for the Cosmos.
osmosis.zone/blog/unveiling…
— Osmosis 🧪 (@osmosiszone)
1:00 PM • Jun 21, 2023

Catalyst Demo on Testnet:

1/ Today is a proud moment for the team as we announce the launch of the Catalyst demo on testnet.
It's the first step towards our vision, allowing everyone to experience the power of permissionless cross-chain liquidity firsthand.
Check it out at demo.catalyst.exchange 🫡
— Catalyst (@CatalystAMM)
4:42 PM • Jun 21, 2023

Testudo launch:

Very excited to share that our latest result is finally out: Testudo!
A SNARK proof system designed to be prover-cheap to support large scale circuits.
Here a short story of previous attempts 🧵
— nicola 💾 (@iamnotnicola)
12:09 AM • Jun 21, 2023

f(x) upgrade:

Thanks to positive and constructive feedback on our initial whitepaper and testnet, we're excited to announce an upgrade to f(x)!
The big question from users? → Why not accept ETH LSDs in the reserve?
We went back to the drawing board, and f(x) is much better for it
(1/5)
— f(x) (@protocol_fx)
5:33 PM • Jun 21, 2023

DefiLLama users can now track new users (first tx):

btw now we track "new users" on chain pages
these are addresses that sent their first tx
— 0xngmi (@0xngmi)
3:24 AM • Jun 20, 2023

Ledger Recover White Paper:

📰Today, we are publishing the Ledger Recover White Paper, a key step in allowing anyone to audit the cryptographic protocols.
This builds on the over 150 apps and other open-source enablement Ledger has already implemented.
Don’t trust, verify.🧵
— Charles Guillemet (@P3b7_)
12:04 PM • Jun 21, 2023

Camelot’s V3 AMM is live:

We’re excited to announce that our v3 AMM is live ⚔️
By leveraging @CryptoAlgebra’s v1.9, we’re able to relaunch our concentrated liquidity on a more battle-tested foundation.
In addition, @paraswap is also now live as the first supported aggregator.
app.camelot.exchange
— Camelot (@CamelotDEX)
12:28 PM • Jun 20, 2023

Pike Finance intro:

1/🎉 Introducing Pike Finance, a Universal Liquidity Protocol.
Pike is designed for a secure, unified, cross-chain lending market.💪
Powered by @wormholecrypto and @circle.
Launching on @BuildOnBase.
— Pike (@PikeFinance)
2:26 PM • Jun 21, 2023

$crvUSD - $wstETH - $tBTC pool pursues gauge vote:

June 21, 2023: TricryptoLLAMA 🦙🔼
New $crvUSD - $wstETH - $tBTC pool pursues gauge vote
🧵1/8👇
— curvecap.lens 🛡️ (@CurveCap)
5:27 PM • Jun 21, 2023

Struct Finance rolls out new vaults:

🔥The wait is over!
We're super thrilled to reveal the long-awaited details of our new offerings. But first, a quick shout-out to our last two products currently performing at an astounding variable APR of 147% and 145%, thanks to the market tailwinds. Buckle up, because this… twitter.com/i/web/status/1…
— Struct Finance 🔺 (@StructFinance)
2:52 AM • Jun 21, 2023

Project X is now Mito:

Project X is now Mito: A groundbreaking protocol that revolutionizes automated trading and yield generation.
Early access launches this week. Prepare to witness a new world of on-chain finance 💥
— Mito (@MitoFinance)
2:53 PM • Jun 20, 2023

Optimism will distribute 30 million OP to RetroPGF Round 3 participants this fall:

Announcing RetroPGF Round 3! 🌱✨
This fall, 30M OP will be distributed to builders, creators, and educators who have provided positive impact to the Optimism Collective.
— Optimism (✨🔴_🔴✨) (@optimismFND)
4:29 PM • Jun 21, 2023

Vendor Finance adds support for LP tokens starting with Curve's MIM and Sushiswap LPs:

Big news! We've whitelisted our first batch of LP tokens from @CurveFinance and @SushiSwap, opening up many possibilities for both borrowers and lending! 🥳
— Vendor Finance (@VendorFi)
12:04 AM • Jun 22, 2023

Elixir Protocol partners with injective's Open Liquidity Program:

Elixir is excited to share more details re: the protocol’s upcoming native integration with @Injective_
Here’s a look into how Elixir will power widespread access to Injective’s Open Liquidity Program rewards:
— Elixir (@ElixirProtocol)
5:14 PM • Jun 21, 2023

Learning guide, philosophical thoughts and airdrop sheets:

A thread of curated twitter lists to maximise your alpha:

Twitter continues to be a valuable source of alpha, but only if you are organized.
To unlock the full power of alpha, consider utilizing lists.
Here are my curated lists that you should follow 🧵👇
— defizard (@belizardd)
3:58 PM • Jun 22, 2023

And that’s 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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