🐧 The ARKM airdrop and Pengiuns in Space?!

Jul 20, 2023 | Newsletter

💬 Market commentary.

Good morning, afternoon or evening from wherever in the world you are from!

Arkham’s been the talk of the town (again) and not for the fact that their “Intel Exchange” went live, which allows users to set bounties for hunters to go do some on-chain sleuthing to provide and find information connected to wallets.

We saw from the BLUR and ARB airdrop that it pays to play. The ARKM airdrop printed over 47,000 early beta testers and referral link shillers claimed 23.7m tokens totalling $15,000,0000. Yup… Fifteen Million United States magical internet monies were printed with these top 5 wallets each collection a cool 6 figures+.

Not bad, that.

Account Abstraction hit the spotlight again at ETHCC as Vitalik took to the stage. He noted that “Paymsters” (account abstraction extensions) will let users pay gas fees in the native token they’re transferring. Which, would make life MUCH easier especially when you’ve run out of ETH.

In an industry that relies on internet wallets, the evolution of these is key for onboarding the next generation of non-tech-savvy investors.

And on a complete tangent to satisfy your crypto Twitter addiction, penguin trader Pentoshi is launching a penguin to space… in the name of animal safety, we hope this is just an NFT collection.

PS… there’s a Quest for LARP code word hidden somewhere below.

🧑‍💻 Join the Discord | 🐥 Follow Twitter | 📊 Sub to YouTube & Spotify

🤓 In today’s email.

  • The degen corner. NFTs are DEAD & so is NFTfi ft/ Protectorate Protocol

  • DeFi insights. 13 need to know updates

  • ICYMI. GM degen podcast, What is Savvy Defi? & Moats and Hoes

  • Top Tweets. Did AI program this?

  • And finally. Did Oct ‘22 mark the bottom & start of a soft landing?

🔥 The degen corner.

😲 NFTs are DEAD & so is NFTFi

Or at least the old formula won’t fool savvy NFT hodlers who’ve stuck by their illiquid jpegs and watched them go to zero. Especially during the recent NFT winter which has seen the Bored Apes getting closer and closer to zero.

The PFP Formula:

Hype + narrative + hopium + mint = devs retiring to the Hamptons.

And once the floor drops, rinse and repeat for a secondary “Generation V2 (insert more buzzwords + hype)” collection that pumps your retirement bags.

Pudgy Penguins CEO, Luca Netz, gave advice to Web3 in a recent interview saying “create real products that transcend NFTs.”

The new model, create a brand that’s transferable to the real world that normies can buy into without even knowing wdf an NFT or NFTfi is.

Ok cool so that takes care of the jpeg side of NFTs ecosystem but what about NFTfi?

After all, we’re in this space to have fun and make money with our friends.

We’ve spoken about Protectorate Protocol, you can read, watch, and listen to find out the nerdy bits of the protocol, as they might just be the next blue chip of NFTfi.

What is it?

The first of its kind and the definitive liquidity layer for NFTs, effectively acting as a liquidity router and yield aggregation platform that aims to provide deep, sustainable liquidity for NFTs and NFTfi.

How it started.

The Protectorate Protocol is the brainchild of Redacted Cartel operatives Magnus and 0xOmnia and was built to help not-so-savvy NFT hodlers and flip the model on its head, take the complexity of commonly used buzzwords and strategies like bribes, gauges or taking the weekend to break down the CRV ecosystem flywheel.

The vision… make NFTfi so simple that even Dan’s Mum can understand by taking out the insane ponzinomics so all levels of investors can park their ETH and stables to earn by using a variety of NFT yield-generating strategies.

Aaaaand make NFTfi as fun as minting your first NFT,  becoming part of a strange unique subculture.


What’s up next?

The ETH capsules have been deployed and Envoys (LPs) can now see their oPRTC (call option emissions) reward accrual. The ETH capsules have seen >200 ETH being deposited since launch.

xPRTC (staking) and NFT capsules are next on the road map.

Staked PRTC (xPRTC), will allow stakers to tap into protocol revenue along with the ability to partake in governance.

NFT Capsules will allow depositors to make use of idle (whitelisted) NFT Inventory to generate a return for them. The capsule will be first in class, where the strategies will keep their NFTs in whole units. No fractionalization or sharding.

Word on the street the NFT capsule might feature Miladys and Remilios first.

👀 DeFi insights.

The important bits.

  • Axelar Network – Introduce and launch Interchain Token Service – Read

  • ChainLink – Officially launches CCIP on AVAX, ETH, OP, and Polygon – Read

  • Gravita Protocol – Redemptions went live yesterday – Read

  • Llama Quest NFT – Partnership announced with TheLlamaMarket, the first project to build in the Llama Quest ecosystem – Read

  • Neon EVM – Launches mainnet on Solana – Read

  • Pendle Finance – Introducing Pendle Earn – Read

  • PepperDEX – Launching on HXRO Network, RandomTask555 deep dives the docs, tokenomics and more – Read

  • Pika Protocol – V4 has released 10 new trading pairs including ARB, PEPE and DOGE – Read

  • Ribbon Finance – Snapshot to merge with options protocol AEVO has gone live, ending on July 25th – Read

  • Savvy DeFi – Introduces MMC Zapper making minting much easier as it automates exchanging your collateral for 50% svToken, 50% collateral token. – Read

  • Spool – Release and discuss a teaser trailer on a new element of Spool V2, “Multi-asset Smart Vaults” – Read

  • Swell Network – It’s over 9000! 9000+ pearl hunters in Swell’s Voyage campaign are staking 39,300+ ETH and releasing a deep dive including Gravita Integration – Read

  • Synthetix – Set to launch Perps V3 & Infinex in Q4 plus now uses Chainlinks CCIPRead

Quest for LARP code

📰 DeFi news.

  • Ethena Labs gains $6.5m investment to create the first “Internet Bond” led by Dragonfly Capital and features Crypto Twitters favourite Arthur Hayes. – Read

  • Hector Network pass a vote to liquidate after the MultiChain fiasco and redeem the HEC token against the funds in the treasury – Read

  • Lybra Finance launches on Arbitrum Testnet allowing users to test out peUSD which is more compatible with DeFi protocols giving users greater flexibility – Read

  • Reddit tokens MOON, including r/CryptoCurrency’s native MOON token and r/Fortnite’s BRICK after an update in T&Cs which “now explicitly allows for trading Reddit’s tokenized Community Points” – Read

  • Ubisoft, the developers of Assassins Creed are now validating the Cronos network to advance blockchain gaming – Read


Life gets busy so here’s what you’ve missed.

GM degen podcast

Listen & Watch.

Will we see 8bn people on chain in the next 10 years or is it still a pipe dream? We’re also talking about the trading bot surge, how @brian_armstrong is cleaning up at the minute, the dormant wallet sending a huge ETH amount to @krakenfx, and more…

Tune in on Twitter | Spotify | YouTube

What is Savvy DeFi? A Complete Guide.


What do you do when you find something incredibly interesting? Tell everyone? Keep it to yourself but with a silent scream inside? Or explore it to the depth to be sure that it really is as interesting as you think it is, and it’s not just your mind playing tricks on you…

Read more →

Moats and Hoes: Why Protocols are Building on Hxro Network.

Thought Provoker.

Projects that succeed are those that have their own ecosystem built around them and don’t isolate themselves from the compostable world of DeFi. That is the most beautiful thing about this ridiculous space…

Read more →

🐥 Top tweets.

To save you doom scrolling.

@KobeissiLetter, did AI program this?

@rektdiomedes, at the end of the day… we all love a good ponzi.

@jchervinsky, rinse and repeat.

🦍 And finally…

Did October ‘22 mark the bottom? Have we all along been in a “soft landing” as inflation continues to cool off and markets continue to rally?

Are we currently in a bull trap or deep into a secular bull market disguised by the media’s relentless recession fears and collapse of the global superpowers?

With liquidity still thin in crypto, playing narratives and formulating your Bitcoin halving thesis is probably the smartest thing to do whilst protecting your magical internet beans at ALL costs.

On that note, let’s get hunting!

much love,

blocmates team 🫡

🤝 A final word.

A quick word from our super awesome sponsors who help us make this all possible…

Discover how your skills could power the next generation of web3 and blockchain technology. Your next career move could be one you never imagined. Start your search today at Web3nomads.jobs.

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