DeFi Digest: Weekly Alpha Edition #7
Latest DeFi Alphas in a Short, Packed Newsletter.
GM fam,
Every Friday, I curate and deliver the most impactful DeFi news and the hottest yield opportunities straight to your inbox.
DeFi Flash news 🗞️
The Worldcoin project is now live.
Alphapo hot wallets hacked for over $31 million
LayerZero is live on Linea Mainnet
EthCC will take place in Brussels in 2024!
Conic Finance got double-rekt on Friday, losing a total of $4.2M from their ETH and crvUSD omnipools.
Public Good Network is officially live on mainnet and open for building!
MakerDAO Considers Boosting DAI Savings Rate To 8%
Conic Finance Users Flee After Hackers Steal $4M
EthStorage has successfully raised $7M in a seed round with a $100M valuation.
Gravita Protocol is now fully deployed on Arbitrum
Optimism will unlock 24.16m OP token this sunday
EraLend, the largest lending protocol on Ethereum scaling blockchain zkSync, has been hit by a $3.4 million read-only reentrancy attack
Yield opportunities 🧐
Pendle Finance (Mainnet) - The swETH earn strategy offers a 9.42% APY without Boost, and can provide up to 20% APY with Boost.
SpartaDEX (Arbitrum) - Earn SPARTA upcoming token by locking liquidity to the protocol.
Camelot DEX (Arbitrum) - 11% - 33% on the LUSD-USDC pool (stable)
Convex Finance (Arbitrum) - 10% vAPR on the WBTC-tBTC pool (Stable)
Speculative Degen Gamble 🦄
Each week we talk about a DeFi protocol that is changing the game and adding great value to the ecosystem.
This week I want to write about SpartanDEX.
Category: DEX
Ticker: $SPARTA (No tokens yet)
TVL: $9,544,604.08 in the lockdrop contract
Network: Arbitrum One
This is neither financial advice nor a paid partnership.
So, What is SpartanDEX?
SpartaDEX is a new kind of platform that mixes together two things: a real-time strategy game set in old Greece and a DEX.
This unique combination, often referred to as a 'gamified DEX,' aims to keep users engaged and loyal, which helps ensure a steady liquidity over time.
Tokenomics
$SPARTA is a native SpartaDEX token, built on the Arbitrum blockchain, which in the future is going to be a multichain asset. It is the key element of achieving benefits from the operation of the exchange. Staking $SPARTA provides rewards, which come not only from commissions earned by the exchange, but also from income generated by game-related microtransactions - purchasing Gems in the Market.
All of the distribution follows a linear vesting schedule, which could help stabilize the price, provided there is sufficient demand.
However, bear in mind that this is a highly inflation-prone token. Personally, I wouldn't feel comfortable purchasing it. Instead, I believe it could be a smart move to farm it by locking a small amount of money into the platform for approximately 16 weeks. I've adopted this strategy myself, having locked about $480 worth of LP into it.
When you lock your LP tokens in Spartan, they become inaccessible for withdrawal after 4 days but it is subject to change so do your own research, for the duration that you've chosen to lock them.
In my case, a lot can happen within 16 weeks. For example, the smart contract could be exploited, or the team could decide to rug pull, which would certainly result in the loss of all my funds.
While I don't advocate for locking your funds, should you choose to do so, I suggest only utilizing an amount that you wouldn't mind potentially losing.
Dune Dashboard of the week 🧙♀️
Every week, I enjoy sharing a Dune dashboard, which I use extensively for analytical research.
Since the inception of LayerZero, cross-chain messaging protocols have truly amazed me with their endless potential.
They offer the possibility of building solutions such as cross-chain lending protocols (like Radiant Capital, for example).
This week's featured Dune dashboard is about CCIP, an innovative alternative to LayerZero, built by the team at Chainlink.
That's it for this week. I hope you enjoy this new format. I will continue to share alphas and news each week, so don't hesitate to subscribe to the newsletter.
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None of the information in this newsletter constitutes financial advice. While I personally use most of the protocols that I discuss, it's important to understand that they involve substantial risk. Don’t invest what you can’t afford to lose