Weekly Alpha #25 - Actionable DeFi strategies 👩🌾
Weekly Alpha #25 - Actionable DeFi strategies 👩🌾
Latest DeFi Alphas Delivered in a Concise Newsletter.
Welcome to the latest edition of Weekly Alpha.
Every Friday, I deliver insights on the cryptocurrency market, emerging projects, macroeconomic trends, and DeFi directly to your inbox.
In this edition of The Weekly Alpha:
🗞️ Weekly DeFi News Digest
👩🌾 Actionable DeFi strategies
📈 Market overview
Your Weekly DeFi News Digest 🗞️
In this section, I highlight the week's most impactful DeFi news. This way, you can bypass the chatter on Twitter and concentrate on the essential updates.
Trade Volume For Rocket Pool’s rETH Outpaces stETH By 430%
Smoothly Launches Gitcoin Campaign To Bolster Rewards For Solo Stakers
THORchain Volumes Surge On Success Of ‘Streaming Swaps’
Ethereum Validators Are Now Queuing To Exit The Network
Pyth Network Token Goes Live With $75M Airdrop For DeFi Users
Upstart Layer 2 Blast Draws In $100M With Airdrop Scheme
Circle Launches Bridged USDC Contract For EVM Chains
Actionable DeFi strategies 👩🌾
In this section, I'm sharing some intriguing DeFi strategies that you may find actionable. Please note that this is not financial advice, and it's crucial to conduct thorough due diligence before making any investments.
SNX-USDCe vLP V2 Vault 🐮
The vault available on Beefy Finance is offering an attractive annual percentage yield (APY) of 63%, enhanced by Optimism (OP) rewards.
The strategy is quite simple, the vault deposits the user's SNX-USDCe vLP V2 in a Velodrome farm, earning the platform's governance token. Earned token is swapped for SNX and opUSDCe in order to acquire more of the same LP token. The main reason I think this strategy is powerful is the fact the on top of the velodrome yield, you are earning OP token.
Risks
High expected IL
Engaging with Multiple Smart Contracts
Medium market-capitalization, average volatility asset
GMX Farming
GMX, a leading protocol on Arbitrum, currently offers an incentive program to enhance protocol adoption. They are boosting GMX pools with ARB rewards.
These pools provide attractive incentives, with boosts ranging from 9% to 40% APR.
According to their documentation, all GMX pools are eligible.
These two strategies are straightforward and suitable for users ranging from beginners to advanced DeFi enthusiasts.
Drop a comment with your current favorite protocols. I'd love to hear your preferences!
Weekly DeFi Market Update 📈
This week has been another rollercoaster, particularly due to the KyberSwap hack, which resulted in a loss of $48 million in assets.
As the chart below illustrates, a significant portion of the protocol's Total Value Locked was drained.
Bitcoin Dominance
Bitcoin dominance is one of my favorite metrics to track during a bear market. Generally, it peaks at the market's bottom and begins to gradually decrease as investors seek more aggressive plays with their gains when entering a bull market.
Currently, it sits at around 52%, with a weekly peak of approximately 53%. If the uptrend continues, I expect Bitcoin dominance to drop significantly; in 2021, it hovered around 40%.
Overall, I believe the end of the year will be quite interesting for the crypto market, potentially marked by the resurgence of NFTs and low-cap altcoins.
Wrapping up for this week. For daily DeFi updates, follow me on Twitter
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