DISCLOSURE: DELPHI VENTURES HAS INVESTED IN ETH, RUNE, AND DYDX. MEMBERS OF OUR TEAM ARE ALSO PARTICIPATING IN THE FARMS STATED. THESE STATEMENTS ARE INTENDED TO DISCLOSE ANY CONFLICT OF INTEREST AND SHOULD NOT BE MISCONSTRUED AS A RECOMMENDATION TO PURCHASE ANY TOKEN. THIS CONTENT IS FOR INFORMATIONAL PURPOSES ONLY AND YOU SHOULD NOT MAKE DECISIONS BASED SOLELY ON IT. THIS IS NOT INVESTMENT ADVICE.
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Chart of The Day: 10M ETH now Staking for ETH2
- Over 10M of ETH has been staked in the ETH2 deposit contract, representing 8.56% of the total ETH supply.
- With ETH2 merge slated for end-Q2, yields for staking ETH with validators are expected to increase as transaction fees previously earned by miners will now be earned by validators. Coinbase previously informed their users that they expect yields to be around 9-12% post-merge.
- Furthermore, the merge will turn ETH into a deflationary asset, with a simulated yearly net deflation of -2.2% based on historical burns that happened since EIP-1559.
- Yesterday, the merge happened on the Kiln Merge Testnet, successfully transitioning it from Proof-of-Work to Proof-of-Stake. This is likely the final merge testnet before transitioning public testnets are upgraded. This is a positive indicator that the eventual merge on the Ethereum mainnet will likely happen on time and successfully.
- For more on ETH and the impending merge, Delphi members can revisit our EIP-1559 report here.
Boosted Stablecoin Farms, Token/NFT Airdrops & Yield Aggregators
[Excerpt from our Mar. 15 Yield Insights]
Airdrops & Rumours
- LimeWire will give the top 10,000 inviters who refer friends to their platform an exclusive airdrop.
- Crypto.com exchange has announced an airdrop of 5500 “The Moment of Truth” NFTs to randomly selected viewers of its Super Bowl commercial. Those who found and scanned a hidden QR code within the ad are in the draw.
- Brahma Finance is launching their Moonshot DegenVault strategy, made accessible to experienced DeFi users with high KARMA scores.
- Argent wallet allows users to access dApps on zk-Sync such as staking ETH on Lido, accessing Yearn vaults and trading on ZigZag exchange.
- Yuga Labs has acquired the CryptoPunks and Meebits collections from LarvaLabs which has sparked rumours of a serum-esque airdrop for punk holders.
Starstream is a suite of products for providing yield aggregation and yield generation on the Metis L2 rollup. The protocol is maintained by various developers and is governed by STARS holders. Starstream has Vaults – automatically generate yield based on opportunities present in the market, and Launcher – suits of tools that allow anyone to create and launch tokens without any coding or smart contract knowledge. Learn more about it here.
Yield calculations are provided by Starstream. To access Starstream, you’ll need to configure your MetaMask to run Metis Andromeda’s Mainnet using this guide.
Bridge: You can deposit and withdraw assets onto the Metis network here. You can also withdraw assets faster using Celer.
Emissions: The STARS token has a maximum supply of 1 billion. Incentives will be used primarily to improve vault farming APYs and reward liquidity providers. The majority of the farming rewards will be controlled by token holders, with part of it being used to provide the initial liquidity. Farming rewards are able to be directed by veSTARS token holders with voting.
- For more, Delphi members can see our latest Yield Insights here.
When It Rains, It Pours [February 2022]
[Excerpt from our February Charbook]
-
First, there were the Curve Wars, then the Solidly Wars, and now we have the Platypus Wars. Platypus Finance is a single-side AMM designed for stable swaps. Similar to Curve, they have a vePTP token that can direct emissions and boost yields on the protocol. This led to another Convex-like situation where Echidna and Vector start to accumulate and own PTP to boost yields for users of their protocol.
-
Platypus Finance has since crossed $1B in TVL, as farmers enter to take advantage of the boosted yields.
- For more, Delphi members can read the latest Monthly Chartbook here.
Notable Tweets
THORSwap Roadmap
THORSwap vision and roadmap revealed 🧵👇
Cross-chain aggregator, V2 redesign, and vTHOR are coming soon
THORSwap’s vision is “Become the One-stop Defi Exchange in crypto” by leveraging the cross-chain DEX aggregation protocol.
$THOR
1/x— @THORSwap (🔱 ,🔱) (@THORSwap) March 16, 2022
dYdX Innovates on Legal DAO Structuring
1/ After reviewing the great paper by
@David_M_Kerr
and
@milesjennings
at
@a16z
on DAO structuring around unincorporated nonprofit associations, it was necessary to find a less US-centric solution. Today,
@dydxfoundation
published an additional option:https://t.co/OX6lxBTjPV
— dYdX Foundation 🦔 (@dydxfoundation) March 15, 2022
ConsenSys Raises $450M at $7B Val
Today, ConsenSys announced the close of a $450 million USD financing round, bringing its valuation to $7 billion USD.
https://t.co/e2huMcEyIZ
— ConsenSys (@ConsenSys) March 15, 2022
