Alpha issue #85
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.
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 was the only top DEX that applied for an $ARB grant from STIP but didn't receive support.
However, HMX remains resilient and maintains a top position in trading volume despite not getting gas support.
It will be interesting to see how HMX performs after the completion of Arbitrum STIP and the leveling of the playing field.
Since its Open Beta launch in late June, HMX has achieved the following statistics:
🔸 4th among perp DEXes on Arbitrum
🔸 6th among all perp DEXes across all chains
🔸 ~$8Bn in total trading volume
🔸 ~$26.8Mn in TVL
🔸 ~5,000 unique users
🔸 100,000+ trades supported
🔸 3 audit reports from Foobar, WatchPug, and Cantina
🔸>$3M of revenue distributed to users.
Latest Update: Weekly Yield Report
HLP: 54.39% APY
HMX: 74.25% APY
Earn now: link
2/➯ Updates & Upgrades in DeFi
Fuse Network to Launch ZK-Powered Layer-2 Solution Using Polygon CDK:
MilkyWay announced Celestia liquid staking protocol on Osmosis:
Arbitrum Orbit with Celestia Underneath:
ZKFair Mainnet is now live:
EURC on Solana is now available with Circle:
Frame initial airdrop available to early adopters:
Ledger users lost $600k due to a recent exploit:
KyberSwap Treasury Grant Program for KyberSwap Users Affected by KyberSwap Elastic Exploit:
Friendtech is pledging a v2 next year:
Dmail confirms airdrop:
Manta Pacific's adoption of Celestia DA:
Jones Labs introduced automated v3 liquidity strategies:
EclipseFi TGE:
Eigenlayer released Restaked Rollups proposed by AltLayer:
3/➯ Alpha by Threadors & Good Reads
Parallel transactions on Neon EVM:
TLDR how EigenLayer hit $1B in TVL in just ~24h of the cap raise:
Arbitrum Orbit takes steps toward a luminous future of thousands of scalable modular blockchains:
Deep explanation about Inscriptions:
The Next Evolution of Liquid (Re)Staking Markets:
4/➯ VITAL NEWS📰₿
BlackRock, Nasdaq, SEC Met Regarding Bitcoin ETF:
Ripple, Coinbase, and a16z invest $78M in pro-crypto PAC ahead of US elections:
Revolut to Suspend UK Crypto Services, Citing FCA's New Ad Rules:
Bitfinex Securities announces first tokenized bond on Liquid Network:
Ethereum Targets January for First Testnet Deployment of Next Big Upgrade, 'Dencun':
SEC could make crypto history in the new year with first spot bitcoin ETF approval:
5 /➯⛓️On-Chain Data:
Solana's 4.5x returns this year highlight the allure of long-term potential:
Around $200m in value has been extracted from Ethereum DEX price discrepancies using atomic arbitrage this past year:
MUX's Milestone Week: 3 All-Time Highs Surpassed!
5 Fastest Growing Protocols Flying Under the Radar:
Ondo Finance extended their USDY and OUSG to Solana and currently Over 98,510 USDY has been minted:
All the benefits of zk-proving for L2s, with a 99% cost reduction vs. L1 DA with Manta Network and Celestia:
The amount of Tip sent to Validators via jito_sol on Solana is another good metric to gauge the opportunities and usage on Solana:
7D Bridged Value Between Ethereum And L2s:
DePIN narrative hasn't taken off yet but price leads to the narrative so buckle up:
Optimism network currently counts over 5.9 million addresses with a balance, up 391% from 1.2 million in January:
6/➯ Macro Metrics 📈
US WEEKLY JOBLESS CLAIMS AT 205,000 LAST WEEK; EST. 215,000:
Longer-term US inflation expectations have fallen dramatically over the past two months, to close to the Fed's 2% target:
Investors haven't been this bullish on bonds in 15 years:
GM from Germany where wind power output hits a record as a storm covering northern Europe boosts generation from turbines:
Between 2:00 and 4:00 PM ET today, the S&P 500 erased ~$600 billion of market cap:
7/➯ Exploits & Bugs
Solana Game 'Aurory' Suffers $830K Exploit, Disables Arbitrum Bridge:
That’s it for today, my friends!
Thank you all for staying with us. Your future self will undoubtedly be grateful for the knowledge and insights gained here.
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I'll continue sharing valuable information about the latest insights and my thoughts in this fast-paced field.
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