Alpha issue #83
DMH's spotlight, new concepts and narratives, guides & more!
DMH Newsletter is a vital news hub with crucial updates & narratives and trends
Spotlight Project: HMX
HMX Description:
HMX offers up to 1000x leverage on Crypto, Forex, and Commodities. It accepts various crypto assets as collateral with cross-margin collateral support, enabling flexible position and risk management strategies.
Additionally, HMX provides low fees comparable to CEXs. What sets HMX apart are its additional features like subaccount support, instantaneous execution, one-click trading, on-chart trading, and more, which offer a user experience similar to CEXs while still retaining the benefits of decentralization. The motto, 'Trade Limitless,' truly reflects their dedication to providing a comprehensive trading experience.
Users also have the opportunity to become market makers for traders at HMX by depositing assets into the HLP vault. The liquidity in the HLP vault serves as the market-making liquidity for traders at HMX and the vault is unique because it is built on top of GMX's GM token.
This unique feature allows depositors to earn yields from both GMX and HMX fees, maximizing passive real yields for the same liquidity used in market-making for both platforms.
HMX prioritizes security and has undergone three security audits conducted by Cantina, WatchPug, and Foobar, ensuring the integrity and safety of the codebase.
Since its Open Beta launch in late June, HMX has achieved the following statistics:
🔸 ~$7Bn in total trading volume
🔸 ~$29Mn in TVL
🔸 ~5,000 unique users
🔸 100,000+ trades supported
🔸 9,000+ community members across Discord & TG
🔸 3 audit reports from Foobar, WatchPug, and Cantina
🔸>$3M of revenue distributed to users.
Latest Update: discount on trading fees
Due to the Christmas holidays, HMX released a discount on trading of ~50%
ETH & BTC: 0.02%
Other Crypto (Base Fee): 0.03%
Commodities: 0.03%
To trade on new perp dex on Arbitrum click the link
2/➯ Updates & Upgrades in DeFi
Starknet v0.13.0 is live on testnet:
Hashstack has recently announced the HASH token and an airdrop exclusively to its v1(mainnet) users:
Rainbow unveils 'points' for Ethereum users:
Uniswap is Coming to Bitcoin:
Pendle v3:
Radiant Introduces sDAI Market:
Parcl Points Program:
Introduce SEAM, the governance token of Seamless:
CelestiaOrg will be integrating its DA solution with PolygonLabs’s CDK:
RDP IDO was sold out in 10 minutes:
Starknet Launches the ‘Devonomics’ Pilot Program allocating $3.5M+ in network fees:
Send USDC on Base for FREE:
Immutable zkEVM is gas-free for gamers:
Aave’s first pool on Penpie - the aUSDC pool:
Find yourself a manager who is nailing all the latest narratives and trade right now on Valio:
3/➯ Alpha by Threadors & Good Reads
BRC - 20 Winter is here :
Understanding this will put you ahead of 99% of retail:
Fragmented liquidity and bridges are arguably one of the biggest issues facing blockchain(s) tech.
Polygon's mission is starting to be fully realized and it's good to see this is being meaningfully addressed
SDF:
A Deep Dive into vertex_protocol:
A post on benefits and challenges of enshrined ZK-EVMs at layer 1:
How we should imagine Uniswap v4 to be?
4/➯ VITAL NEWS📰₿
JPMorgan says Ethereum will likely outperform Bitcoin next year:
Coinbase launching non-US spot market:
U.S. CFTC Approves Bitcoin Futures Platform Bitnomial's Derivatives Clearing Application:
Tether froze Ledger hacker's address, said Tether CEO Paolo Ardoino:
Bitwise, an American crypto asset management company, released 2024 predictions:
The recent hack affects all users, not just Ledger users:
S&P says its debut stablecoin reports highlight how investors want to understand Tether’s risks:
First Trust has applied to create the Bitcoin Buffer ETF:
5 /➯⛓️On-Chain Data:
Mega informative Dune Dashboard about Solana:
Ordinals are pumping in all directions:
Central Banks can hold up to 2% of their reserves in crypto starting 1 January 2025:
The Bitcoin mempool is full, and some Bitcoiners are salty about it:
Solana DEX volume has barely dropped from the day of the Jito airdrop. Still sitting at over $700M per day:
The number of Bitcoin addresses with non-zero balances just surpassed 50 million:
On December 11, Avalanche’s top DEX Trader Joe’s fee capture reached $1.23 million and revenue reached $145k, both reaching the second highest during the year:
The Kyber Network team whitehatted 700k KNC from one of the pools:
Arbitrum Has Done The 2nd Most DEX Volume of Any Chain During December So Far:
6/➯ Macro Metrics 📈
"Fed Pause and Fed Hikes are BULLISH for Risk Assets":
Now the markets have SIX rate cuts priced in for 2024 (blue), where the Fed says three (orange):
Is short-term retracement due to profit-taking?
7/➯ Exploits & Bugs
Yearn treasury suffered huge losses:
OKX DEX suffered a Private Key Leakage Attack and exploited for $2.76M:
Ledger library compromised:
That’s it for today frens!
Thank you for staying with us. Your future self will be grateful.
You can follow me on Twitter ➯ DeFi_Made_Here
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