GMGM,
NEWS just in this morning, Caroline has been spotted in a local coffee shop in SoHo Manhattan. Altcoin Daily showed a map in showing she is a 6-minute walk from an FBI field office
And this meme sums up those current feels as to how the media is portraying Sam as a helpless innocent nerd who was clueless about the inner workings of his empire.
But it’s Monday, it’s almost Christmas and we have a whole host of alpha tweets, 3 project updates, and 3 governance TLDRs to kick-start you week off.
Remember: Nothing in this newsletter is financial advice and is purely for entertainment purposes only. The projects mentioned are just interesting finds.
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But before we jump in, and if you’re new around here, then hit that subscribe button. We’ll keep you ahead of the trend, drop you some alpha and so much more.
The Alpha Ape TLDR
🐥 Top Tweets – The Block Research Director Lars recaps November’s numbers, Smokey hints Berachain IS real?! Caroline gets anime AI’d 😏, hodlKRYPTONITE on GMX fud, Compoud248 reveals what the media actually means and Coinbase Brian is out for blood.
👀 Might be Something – We look at multi-chain suite Onomy Protocol, the latest wallet tracking dashboard from Arkham Intelligence and Arbitrum dungeon game The Beacon.
👨💻 Governance Proposals – Uniswap “Fee Switch”, Fantoms Gas Monetisation and Synthetix Atomic Swap v2 on Curve.
📝 Thread of the Day – WE NEED YOU! for the blocmates Christmas Twitter Awards ideas.
🎧 Podcast of the Day – Grant, Jedi and I chat about Trader Joe moving to Arbitrum and a bullish thesis plus market updates.
🔥 Top Tweets
**BREAKING: Caroline Spotted grabbing a cuppa…the plot thickens
Anime AI is scary AF…all I want for Christmas is…?
A lot happened in November, here are the figures
The FTX and Alameda Research collapse dominated the month and led to an industry wide de-risking and a strong renewed push to towards self-custody.
Total adjusted on-chain volume increased by 9.9% to $260B (BTC: -13.1%, ETH +66.7%):
FTX (Sam) and Alameda (Sam) have been getting a lot of attention…here’s what it actually means
<div class=”tweet” data-attrs=”{“url”:”https://twitter.com/compound248/status/1598446656634191872?s=20&t=7RGjOJh_b_YIdO5qGxz2PA”,”full_text”:”Dear Media,nnDo you want a simple description of HOW @SBF_FTX did what he did?nnWhy does nobody seem capable of pinning Sam down? His SECRET is, when asked pointed questions, he switches to market-plumbing speak, hiding behind lingo.nnLet me help you understand SBF’s moves.n🧵👇”,”username”:”compound248″,”name”:”Compound248: FTX es Grande”,”date”:”Thu Dec 01 22:39:15 +0000 2022″,”photos”:[],”quoted_tweet”:{},”retweet_count”:1583,”like_count”:5612,”expanded_url”:{},”video_url”:null,”belowTheFold”:true}”>
Do you want a simple description of HOW @SBF_FTX did what he did?
Why does nobody seem capable of pinning Sam down? His SECRET is, when asked pointed questions, he switches to market-plumbing speak, hiding behind lingo.
Let me help you understand SBF’s moves.
🧵👇
Brian has a point here
Even the most gullible person should not believe Sam’s claim that this was an accounting error.
Nope. Still a fake chain
Whilst the plot continues to thicken
<div class=”tweet” data-attrs=”{“url”:”https://twitter.com/Bitboy_Crypto/status/1599111097436733440?s=20&t=C4qDelzjE9bVFRg0mqMg1g”,”full_text”:”Skeptics will crucify me for what I’m about to say. I don’t care.nnPLEASE comment, screenshot, meme IT, make fun of me, tag @zachxbt. Tag the Fatman guy. nnThis WILL become public:nnThe #BitSquad and my bill singlehandedly saved crypto and brought down FTX.n1/2″,”username”:”Bitboy_Crypto”,”name”:”Ben Armstrong”,”date”:”Sat Dec 03 18:39:30 +0000 2022″,”photos”:[],”quoted_tweet”:{},”retweet_count”:104,”like_count”:1465,”expanded_url”:{},”video_url”:null,”belowTheFold”:true}”>
PLEASE comment, screenshot, meme IT, make fun of me, tag @zachxbt. Tag the Fatman guy.
This WILL become public:
The #BitSquad and my bill singlehandedly saved crypto and brought down FTX.
1/2
Steady mates, Trader Joe is expanding
<div class=”tweet” data-attrs=”{“url”:”https://twitter.com/AvaxGems/status/1598836195684859906?s=20&t=36YbXmkrsFr_a82ZZ3rx5w”,”full_text”:”Hey Arbi friends! The no.1 DEX and one of the strongest team on #AVAX @traderjoe_xyz is expanding to #Arbitrum! In this thread 🧵:nn1️⃣ Why Joe’s Liquidity Book will capture market share on Arbin2️⃣ What does the #Arbitrum expansion mean to $JOE & #RealYieldnnLFJ! /11 “,”username”:”AvaxGems”,”name”:”rektGEMS🔺”,”date”:”Sat Dec 03 00:27:08 +0000 2022″,”photos”:[{“img_url”:”https://pbs.substack.com/media/FjA1C67VUAAhd2K.jpg”,”link_url”:”https://t.co/H5qTtPFnki”,”alt_text”:null}],”quoted_tweet”:{“full_text”:”Trader Joe goes multi-chain ⛓️nnThe #Avalanche born innovation of Liquidity Book will be deploying to @arbitrum (💙,🧡)nn🔺 is Trader Joe’s home…But now it’s time to go global.nnhttps://t.co/MHbuBMkQuN”,”username”:”traderjoe_xyz”,”name”:”Trader Joe🔺 | New AMM 🌊📘”},”retweet_count”:18,”like_count”:55,”expanded_url”:{},”video_url”:null,”belowTheFold”:true}”>
1️⃣ Why Joe’s Liquidity Book will capture market share on Arbi
2️⃣ What does the #Arbitrum expansion mean to $JOE & #RealYield
LFJ! /11
Trader Joe goes multi-chain ⛓️
The #Avalanche born innovation of Liquidity Book will be deploying to @arbitrum (💙,🧡)
🔺 is Trader Joe’s home…But now it’s time to go global.
https://t.co/MHbuBMkQuN
Serrrr you are here
Is bitcoin really on the road to zero?
Punks and Penguins > Apes
<div class=”tweet” data-attrs=”{“url”:”https://twitter.com/0xPrismatic/status/1598497225541296129?s=20&t=WsKcdX0d4FrAUUHABstAow”,”full_text”:”/2 In ~1 day since it’s launch, Uniswap’s NFT marketplace has:nn🔸 $365,000 in sales volumen🔸 672 buyersn🔸 Top collections are CryptoPunks & @pudgypenguinsn🔸 No BAYC or MAYCs have been traded.nn(h/t @marcov_91) “,”username”:”0xPrismatic”,”name”:”Teng ⛩”,”date”:”Fri Dec 02 02:00:11 +0000 2022″,”photos”:[{“img_url”:”https://pbs.substack.com/media/Fi8Av1PXEAAhV7r.png”,”link_url”:”https://t.co/ur8T5FFs0q”,”alt_text”:null}],”quoted_tweet”:{},”retweet_count”:0,”like_count”:6,”expanded_url”:{},”video_url”:null,”belowTheFold”:true}”>
🔸 $365,000 in sales volume
🔸 672 buyers
🔸 Top collections are CryptoPunks & @pudgypenguins
🔸 No BAYC or MAYCs have been traded.
(h/t @marcov_91)
The low down on whats occurring on Arbitrum
<div class=”tweet” data-attrs=”{“url”:”https://twitter.com/TheDeFinvestor/status/1598289357886001152″,”full_text”:”What’s happening on #Arbitrum?nnA mega-thread on the latest developments in the Arbitrum Ecosystem 🧵”,”username”:”TheDeFinvestor”,”name”:”The DeFi Investor🦇🔊”,”date”:”Thu Dec 01 12:14:12 +0000 2022″,”photos”:[],”quoted_tweet”:{},”retweet_count”:133,”like_count”:512,”expanded_url”:{},”video_url”:null,”belowTheFold”:true}”>
A mega-thread on the latest developments in the Arbitrum Ecosystem 🧵
GMX fuddoooor
<div class=”tweet” data-attrs=”{“url”:”https://twitter.com/hodlKRYPTONITE/status/1597158471312760834?s=20&t=ueGcvIgf8uhfSK_ehwOIow”,”full_text”:”1/n – Why @GMX_IO will fail”,”username”:”hodlKRYPTONITE”,”name”:”degentrading”,”date”:”Mon Nov 28 09:20:27 +0000 2022″,”photos”:[],”quoted_tweet”:{},”retweet_count”:297,”like_count”:1263,”expanded_url”:{},”video_url”:null,”belowTheFold”:true}”>
GMX fuddling debunked? You decide
1) Zero Slippage –> currently a non-issue for BTC and ETH given GMX’s liquidity/OI caps vs CEXs
With Synthetics, zero slippage is being phased out and GMX’s oracles will apply spreads from aggregators and orderbook depth of top exchanges.
1/n – Why @GMX_IO will fail
Yeahhh but are you going to admit it?
<div class=”tweet” data-attrs=”{“url”:”https://twitter.com/cmsintern/status/1598098729953005568?s=20&t=36YbXmkrsFr_a82ZZ3rx5w”,”full_text”:”Intern notes from SBF’s interview @dealbook Summit on:nn- Alameda commingling funds 💰🤝n- SBF’s political donations 👨⚖️n- FTX houses & drugs 🏖️💊nnAnd frankly too much more nn@andrewrsorkin <> @SBF_FTX “,”username”:”cmsintern”,”name”:”CMS intern”,”date”:”Wed Nov 30 23:36:43 +0000 2022″,”photos”:[{“img_url”:”https://pbs.substack.com/media/Fi2WUtuWIAEXXZ-.jpg”,”link_url”:”https://t.co/nmAMTHt5AK”,”alt_text”:null},{“img_url”:”https://pbs.substack.com/media/Fi2WUtqWIAMgcux.jpg”,”link_url”:”https://t.co/nmAMTHt5AK”,”alt_text”:null},{“img_url”:”https://pbs.substack.com/media/Fi2WUttXwAYyLWq.jpg”,”link_url”:”https://t.co/nmAMTHt5AK”,”alt_text”:null},{“img_url”:”https://pbs.substack.com/media/Fi2WUtsXgAEa148.jpg”,”link_url”:”https://t.co/nmAMTHt5AK”,”alt_text”:null}],”quoted_tweet”:{},”retweet_count”:159,”like_count”:695,”expanded_url”:{},”video_url”:null,”belowTheFold”:true}”>
– Alameda commingling funds 💰🤝
– SBF’s political donations 👨⚖️
– FTX houses & drugs 🏖️💊
And frankly too much more
@andrewrsorkin <> @SBF_FTX
FTX/Alameda (Sam) = Scam, 3AC = Goofballs?
👀 Might be Something
…but then again could be nothing. This is just a collection of projects that might be worth keeping an eye on.
1) Onomy Protocol
Resources: Website – Medium – Discord – Twitter
An interoperable layer one ecosystem that is providing the rails for the forex market to plug itself into the wonderful world of defi. You’ll be able to easily mint, trade, and lend stablecoins cross-chain.
The 4 Pillars of Onomy
Onomy Network (ONET) – app-specific layer one built using Cosmos SDK that can bridge to the likes of Near, Aurora, Ethereum, Polygon etc using the Arc Bridge Hub.
Onomy Exchange (ONEX) – their DEX that combines AMM Liquidity Pools with an Orderbook UI to feel like CEX but acts like DEFI.
Onomy Access – the non-custodial multi-chain mobile wallet app to keep all your assets that are spread across various chains in one place
Onomy Reserve (ORES) – the stablecoin issuance protocol that allows for the mining of Denoms using NOM as collateral.
TLDR; app-specific layer one blockchain that’s building a multi-chain suite of products that has a large scope of cross-chain interoperability whilst bringing FX to defi.
2) Arkham Intelligence
Resources: Website – Discord – Twitter – Waitlist – YouTube Demo
AKA The Dark Knight of Crypto Intelligence. This is an all-in-one dashboard that allows you to track wallets, filter them into categories and visually see all of the in and outflows of that wallet address. It also shows your balance since creation including all transactions and a full in-depth portfolio analysis with profit and loss.
The visualiser feature, along with its filter settings, is going to be a crypto detective’s best friend for hunting through scammers, hackers and exchange wallets as it adds a slick UI to it. They are currently going through beta testing but you can apply to join the waitlist above.
TLDR; Imagine putting Debank and Zerion into the hyperbolic time chamber after doing the fusion dance that Goku and Vegeta did…that’s what Arkham feels like. Highly recommend watching the Youtube Demo.
Arkham’s product is a platform allowing traders unprecedented access to blockchain data.
What kind of insights does Arkham show you, and how can you use it to gain edge?
Read to the end for the video 👇
3) The Beacon
Resources: Website – Discord – Twitter
It’s safe to say that since its launch The Beacon has brought a lot of life and interest back into crypto gaming as it is one of the most polished experiences I’ve personally ever played. What the team has accomplished since they launched on November 25th is nothing short of remarkable as they have brought in over 11,000 new people into the Treasure Dao ecosystem over on Arbitrum.
It’s a simple dungeon-based game with daily rewards, including a quiz, to power up your founding character NFT and make your little wooden goblin shack look like a palace.
December 16th, you’ll be able to mint and egg BUT you’ll need to wait until mid-Jan for it to hatch with alpha game reason coming in 2023.
TLDR; Dungeon based game that has brought the Treasure Dao and Arbitrum gaming ecosystem to life. To play, mint a founding character and complete the daily dungeon and tavern quiz to earn raffle tickets to get onto the pet egg allow list.
<div class=”tweet” data-attrs=”{“url”:”https://twitter.com/BrainsyEth/status/1598815536049053697?s=20″,”full_text”:”86% of The Beacon players are new to $MAGIC ✨👀nn@The_Beacon_GG “,”username”:”BrainsyEth”,”name”:”Brainsy (💙,🧡)”,”date”:”Fri Dec 02 23:05:03 +0000 2022″,”photos”:[{“img_url”:”https://pbs.substack.com/media/FjAh5gnXkAUU4QW.png”,”link_url”:”https://t.co/1ImWFCNbXE”,”alt_text”:null}],”quoted_tweet”:{},”retweet_count”:20,”like_count”:113,”expanded_url”:{},”video_url”:null,”belowTheFold”:true}”>
@The_Beacon_GG
👨💻 Governance Proposals
UniSwap 🦄 Fee Switch
→ Proposal 19514 ←
Originally proposed in July ‘22 the long-debated “fee switch” pilot program is up for discussion again with an on-chain vote set to go live in the next 14 days.
TLDR; This pilot is designed to test the “fee switch” which will take 1/10th of fees generated from LP’s and will be sent to the Uni treasury to be used in future proposals that are for “public good purposes for the community and to grow the Uniswap protocol.” Fees will not go back to holders due to regulatory concerns.
<div class=”tweet” data-attrs=”{“url”:”https://twitter.com/DefiMoon/status/1598829464993124352?s=20&t=C4qDelzjE9bVFRg0mqMg1g”,”full_text”:”@mhonkasalo From the discussions on the Uniswap forum, it seems clear that LPs in the major ETH pools do not want the $UNI fee switch to be turned on even at 10% capacity (lowest possible setting) for fear of bigger IL and lost earnings. n”,”username”:”DefiMoon”,”name”:”DefiMoon 🦇🔊”,”date”:”Sat Dec 03 00:00:23 +0000 2022″,”photos”:[],”quoted_tweet”:{},”retweet_count”:0,”like_count”:2,”expanded_url”:{“url”:”https://gov.uniswap.org/t/fee-switch-design-space-next-steps/17132/3″,”image”:”https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/fa6ca57f-2df0-445d-9f42-bc84f38174d2_97x97.png”,”title”:”“Fee Switch” Design Space & Next Steps”,”description”:”Large-scale LPs are conspicuously absent from a lot of the discussion on this forum and it would be really beneficial to hear from them in this discussion. If you are a LP, especially on the USDC / ETH and UDSC / USDT pools, consider this an invitation to make an account if you haven’t got one and c…”,”domain”:”gov.uniswap.org”},”video_url”:null,”belowTheFold”:true}”>
Fantom 👻 dApp Gas Monetization Program
→ Proposal ←
Builders be building and this proposal is designed to reward those building on the Fantom network by effectively slashing the burn rate by 75% to fund the dApp incentives program through gas monetisation.
TLDR; Slash the burn rate from 20% down to 5% to “attract and retain high-grade talent continuously” in the Web3 space.” dApps are eligible if they have recorded 1m+ transactions or spent 3+ months on the Fantom Opera Network.
<div class=”tweet” data-attrs=”{“url”:”https://twitter.com/fantom_daily/status/1598380941944115200?s=20&t=QCHuLFjuNCZtNmH4MgBASQ”,”full_text”:”📢 @FantomFDN New Governance Proposal: dApp Gas Monetization ProgramnnThis program will seek to incentivize high-quality dApps & talented builders on #Fantom ecosystem 🎉nnIf passed, $FTM burn-rate will reduce 20% to 5% and redirect this 15% reduction towards gas monetization 🔥 “,”username”:”fantom_daily”,”name”:”Fantom Daily”,”date”:”Thu Dec 01 18:18:07 +0000 2022″,”photos”:[{“img_url”:”https://pbs.substack.com/media/Fi6W8sVUoAAT7HK.jpg”,”link_url”:”https://t.co/AvNqaLicco”,”alt_text”:null}],”quoted_tweet”:{},”retweet_count”:22,”like_count”:106,”expanded_url”:{},”video_url”:null,”belowTheFold”:true}”>
This program will seek to incentivize high-quality dApps & talented builders on #Fantom ecosystem 🎉
If passed, $FTM burn-rate will reduce 20% to 5% and redirect this 15% reduction towards gas monetization 🔥
Synthetix Atomic Swap v2 🤝 Curve
→ Curve Parameter 52 ←
→ Curve Parameter 53 ←
Nice and simple this one, Synthetix is proposing to get A = 256 and decrease the fees of the sUSD and sETH pools.
TLDR; Proposing to reduce the fees on the sUSD and sETH pools on Curve.
PS. An “Atomic Swap is an exchange allowing traders to atomically exchange assets by pricing synths via a combination of Chainlink and dex oracles”
EG ETH → sETH → sUSD → USDC
<div class=”tweet” data-attrs=”{“url”:”https://twitter.com/synthetix_io/status/1598724336117956608?s=20&t=skrJAJKs8v9Sb-Ae4qijcw”,”full_text”:”Synthetix Atomic Swaps V2 is LIVE! ⚔️nnThe first two protocols to integrate with SNX Atomic Swaps are @1inch and @CurveFinance, helping to deliver the best fills to DEX traders thanks to SNX’s deep liquidity and low fees.nnExplore how Atomic Swaps work in action, a 🧵 👇”,”username”:”synthetix_io”,”name”:”Synthetix ⚔️”,”date”:”Fri Dec 02 17:02:39 +0000 2022″,”photos”:[],”quoted_tweet”:{},”retweet_count”:72,”like_count”:270,”expanded_url”:{},”video_url”:null,”belowTheFold”:true}”>
The first two protocols to integrate with SNX Atomic Swaps are @1inch and @CurveFinance, helping to deliver the best fills to DEX traders thanks to SNX’s deep liquidity and low fees.
Explore how Atomic Swaps work in action, a 🧵 👇
<div class=”tweet” data-attrs=”{“url”:”https://twitter.com/CurveFinance/status/1599037462038614018?s=20&t=uh5UHoOv5nT6sWPT9hQVnA”,”full_text”:”With @synthetix_io moving forward with their plan to improve atomic swaps, they submitted a proposal to get A=256 and decrease fee of SUSD and SETH poolsnndao.curve.fi/vote/parameter…nvote.convexfinance.com/#/proposal/0xe…nndao.curve.fi/vote/parameter…n”,”username”:”CurveFinance”,”name”:”Curve Finance”,”date”:”Sat Dec 03 13:46:54 +0000 2022″,”photos”:[],”quoted_tweet”:{},”retweet_count”:39,”like_count”:158,”expanded_url”:{“url”:”https://vote.convexfinance.com/#/proposal/0x1cacb3845d25d1d45caddbd6013481a6fc06a7b33d3274ae361440f2d4e88f63″,”title”:”Snapshot”,”description”:null,”domain”:”vote.convexfinance.com”},”video_url”:null,”belowTheFold”:true}”>
dao.curve.fi/vote/parameter…
vote.convexfinance.com/#/proposal/0xe…
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🦧 Updates from the bloc
The latest thread
Ben came up with a fantastic idea for an official blocmates.com Christmas Twitter Awards Show. We are compiling a list of the top 10 awards to give out to the community. Tweet us and send in your ideas
<div class=”tweet” data-attrs=”{“url”:”https://twitter.com/byChadManDan/status/1598933937073848320?s=20&t=yE4tQqK_ffEFeDTRfJnvnQ”,”full_text”:”This is happening….get your ideas in for the 2022 @blocmatesdotcom Christmas Twitter Awards ShownnPs. All bearish boomer ideas go to @jediblocmates 🤣🐻 “,”username”:”byChadManDan”,”name”:”Chadmandan”,”date”:”Sat Dec 03 06:55:32 +0000 2022″,”photos”:[],”quoted_tweet”:{“full_text”:”Here’s an amazing idea. @blocmates end of year crypto Twitter awards show.n@jediblocmates @byChadManDan”,”username”:”ubenjammin2″,”name”:”A Capy Named Ben”},”retweet_count”:0,”like_count”:2,”expanded_url”:{},”video_url”:null,”belowTheFold”:true}”>
Ps. All bearish boomer ideas go to @jediblocmates 🤣🐻
Here’s an amazing idea. @blocmates end of year crypto Twitter awards show.
@jediblocmates @byChadManDan
The latest podcast
Steady lads…skips to 10:15 as Grant air drops into the show to share the alpha on Trader Joe’s up-and-coming move to Arbitrum whilst Jedi and I go on a bullish rant ending up with a discussion about how Apple is blocking Coinbase.
Tune in on YouTube or Spotify.
✍️ Feedback
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