Daily Notes 21-08-2023
Developments
Today, @0xRacerAlt overtook @cobie for the number one spot on friendtech, with a share price of 3.05 ETH and a total earnings of 53.65 ETH.
The top trader by PNL on friendtech is a sniping bot, which has generated a cumulative 260 ETH in profits since launch.
0xCC218Bbd21E14944FcC121D161c9b9Ae71B9Cc85 was able to exploit a quirk in Base's sequencer that allowed them to get same block inclusion on new shares listed.
Airdrop Valuation
friendtech recently announced that they will be distributing 100M points over the 6 month beta period. The points will have a special purpose after the end of the beta period.
Based off a simple sensitivity table, we can seen that, if 30% of total supply is airdropped at an FDV of $200M, each point would be worth $0.60. Details regarding the special purpose of the points have not yet been announced.
BNB Venus Partial Liquidation
The $200mil BNB position on Venus protocol from the BNB bridge hack was partially liquidated by BNB chain today. This comes after $30mil of the $200mil was liquidated on Friday.
Today, another $32mil in BNB was liquidated.
You can track:
the BNB liquidator here: 0x56306851238d7aee9fac8cdd6877e92f83d5924c
the BNB position on Venus here: 0x489a8756c18c0b8b24ec2a2b9ff3d4d447f79bec
BAYC Liquidations
With the floor price of BAYC reaching a historical low of 23 ETH, over 108 BAYC NFTs are facing liquidation. On BendDAO, 32 BAYCs have a health factor equal to or below 1.1 of which 8 are below or equal to 1.05.
BendDAO uses a time weighted average to calculate their floor prices, putting BAYC at a price of 25.02 ETH. In contrast the floor price on other marketplaces such as Blur and Opensea, lie at 23.1 and 23.49 ETH, respectively.
On ParaSpace, another 76 BAYC's face liquidation with 18 possessing a health factor below 1.05. The remaining 58 have a health score below 1.1. 6 BAYCs are also in currently in auction.
Mantle Invest 40,000 ETH into Lido’s Staked ETH
Mantle has deposited 40,000 ETH into Lido. Through this agreement, Mantle aims to bootstrap a vibrant and sustainable Liquid staking token ecosystem and attract DeFi integrations to the Mantle network.
In addition, Mantle will also receive a percentage of revenue earned by Lido’s 5% share of staking rewards through Lido’s Tiered Rewards Share Program.
With Mantle staking 40,000 ETH, the program dictates that they will receive 30% of the 5% share that Lido would otherwise take from an individuals staking rewards. It is of note that the 30% was stated to have been negotiable in the original proposal and so may have increased.
Coinbase Acquire Minority Stake In Circle
Coinbase is purchasing a minority ownership in Circle Internet Financial, leading to the dissolution of their joint Centre Consortium that managed the USDC stablecoin. Circle will now solely oversee USDC, which will also expand its integration to 15 blockchains by adding six new ones.
Worldcoin Investigated In Kenya
The Kenyan parliament has formed a committee to investigate Worldcoin after it’s suspension earlier this month due to security and privacy concerns.
The committee is being chaired by MP Gabriel Tongoyo who noted that “the government is concerned by Worldcoin’s activities involved in the registration of citizens through the collection of eyeball/iris data”.
The committee has 42 days to investigate before reporting there findings back to the House.
Trending Assets
Top 300 MC, Performers
RLB, up 17.74%, AKT, up 12.40%, and UNIBOT, up 8.08%, were top performers today.
Top 300 MC, Losers
BITCOIN, down 8.74%, RUNE, down 8.21%, under performed over the past day.
Above $100M MC by performance, on chain
Above $1B MC by performance, on chain
Optimism performed well today, and is up 3.51%.
TVL
TVL Above $10M
Over the past day:
SushiSwap V3, multichain DEX, TVL grew by 33.26%
Angle, multichain stablecoin and CDP protocol, TVL grew by 21.85%.
crvUSD, stablecoin on Ethereum, TVL grew by 10.01%.
Fees
friend.tech is the third highest fees earner over the past day, behind Ethereum and Lido.
Convex Finance fees earned are up 238.74% over the past day, and PancakeSwap fees earned are up 96.83% over the past day.
Governance Proposals`
TIP-29: MAGIC Reconciliation Mint and TIP-25 Token Schedule Assignment
Proposal for TreasuraDAO to mint 8,068,497 MAGIC, and allocate it to their ecosystem fund with a vesting schedule. These tokens are accounted for in the original tokenomics plan, but were unminted.
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