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Down Only Szn
In Partnership with Vector Reserve
EigenLayer mainnet is live and is expected to be a potential $1bn airdrop. The liquid restaking narrative is heating up, and you can get exposure to it today with Vector Reserve. Not only has the project hit $20mm in TVL for its vETH product, but it also offers 45% yields + exposure to EigenLayer and other LRT reward points (Renzo, EtherFi, etc). Vector is one of the cleanest ways to get beta exposure ahead of EigenLayer’s upcoming token launch. The team also just burned $130mm of VEC tokens, sustained by its LPD product success and limited need for emissions.
We just burned ∼$130m worth of VEC tokens 🔥
You read that right - we burned 6M+ VEC tokens worth $130m+ 💰
Why? Because our LPD strategies are so successful that their real yields can support the Vector ecosystem without the need for significant emissions ✌️
More in this 🧵
— Vector Reserve (@vectorreserve)
4:04 PM • Apr 9, 2024
Down Only Szn
Markets are red across the board. But here are the most interesting projects, narratives, news and upcoming launches you should be following:
Icebagz launching a memecoin on base this Friday
RunesBridge - this new launch captured a lot of attention so far, especially with the BTC ecosystem heating up
KAI - LBP ongoing and looking very strong despite market softness
Basenji hits $60mm ATH
EigenLayer mainnet is live
Coins with relative strength
Projects To Watch (With No Token Yet)
A $1bn+ DePin Network Launching this Month
io.net recently partnered with Aptos, the leading L1 blockchain. There are now over 500k+ GPUs on its network, equating to billions of effective GPU assets. The network will launch its token later this month, and is primed to be one of the most exciting DePin launches yet.
I actually did the math here (most of it, @ionet has so many GPUs I didn't want to spend two hours just looking up prices to get the actual valuation).
However, the number I got is over $3.4B in GPU assets.
That puts @ionet above Arbitrum in TVL ranking.$IO is gonna go wild.
— Deranged 🏴☠️ (@schizotweeter94)
1:09 PM • Apr 9, 2024
SMART MONEY CORNER - Presented by chainEDGE
Light and choppy day for inflows. TRUF, DEAI, Boop, BVM, GNUS and RB all notably catching bids in a tough market
On the SOL side of things, DOG lead inflows over the past 24 hours, with smaller buys in others
Hobbes, WIF, boden and POPCAT are smart money favorites on SOL, each with $800k+ of smart holdings (and 4+ smart wallets over $10k)
On the EVM side, BVM has found its home as a “safe space” for smart money, with mostly position trimming across the board. TOSHI has notably made its way into the top 10 and Fren Pet has made it into the top 20.
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Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. The author may also have positions in the tokens mentioned in the content, so please do your own research.