March 30, 2023: No News == Good News ๐๏ธโ
Updates on $CRV, $CVX, $RSR, $GEAR, $CNC, $BTRFLY, $SILO, $ARCH, $UZD, $COIL
Join us this evening for a live Llama Party, featuring the inestimable Sc๊ฎ๊ฎpy Trooples of Alchemix and eGirl Capital! Starting in Discord at 4:00 PM PT, our first ever evening party (to accommodate time zone differences).
Discord: https://discord.gg/xqGqBMj9?event=1089849912109318164
YouTube: https://youtube.com/live/g3Dj4Hz5sGc
The last two days have been blessedly free of too much โnewsโ from DC โ given the news lately has been a nonstop full-frontal assault. Sadly, this torrential downpour of regulatory overreach overshadowed so many great updates from the broader flywheel.
Hereโs a few of the notable developments, (please drop anything we missed in the comments!)
veCRV
All $CRV eventually finds its way into being locked, though the trend has been going in the wrong direction for some time. Bear market effect, or permanent death spiral?
Convex
Convex launched Arbitrum with impeccable timing. Contrary to fears that Arbitrum airdrop users would farm and flee, the chain has continued surging.
Convex is proving a beneficiary of Arbitrumโs success.
There are only three Curve pools on Arbitrum currently earning rewards, but potentially the most interesting one is the newish FraxBP earning 25% boosted rewards. This boost can be more easily realized thanks to the launch of Convex, so we imagine these rewards will come down rather quickly.
Meanwhile, Convex will collect a juicy 901K $ARB for their efforts. Not too shabbyโฆ
Reserve
If you want to gamble based on geopolitical trends, you could do far worse than sniffing around the Reserve ecosystem. Cryptocurrency adoption in Latin America is meaningful, and Reserveโs platform has been focused on building for the region.
Reserve is a protocol allowing anybody to build their own circular economies. One stablecoin, $eUSD, recently launched on their platform to a strong start. Their pool has recently yield an unbelievable 53% boosted tAPR at the moment.
Impossible? Donโt forget here that Reserve has been heavily accumulating cheap $CVX to prepare for exactly this scenario. What youโre seeing is a project playing the game to perfection.
The growth potential of Reserve is notable, as they are continuing to expand their footprint through the region.
For a bit more, check these recent Twitter spaces and threads.
Gearbox
Have you been enjoying the massive farming incentives for the $GEAR pool?
If so then you might want to place some of that $GEAR to use by voting it continues:
Some notes on how it fared during the depeg.
Conic Finance
Conic Financeโs smooth launch continues, as they continue voting the future of the protocol. Worth highlighting, 1 $vlCNC is controlling almost $80 worth of liquidity!
The $USDT omnipool wrapped up a tight race.
The full recap:
$BTRFLY
As the top tier of stablecoins face cruel and unusual backlash, a whole new generation of stablecoins is rising from the ground up. In the midst of these launches, here are some details forget about $DINERO from Redacted Cartelโฆ
The team is also quick to launch onto zkSync.
Silo Finance
Silo Finance started with just a handful of risk-siloed protocols, and is continuing to grow their offering. Recently they launched $ARB and $PREMIA silos.
The teamโs $XAI stablecoin is providing strong yields for those in pure stables.
Archimedes
The Archimedes leverage rounds continue apace, and they are continuing to generate solid returns atop $OUSD.
Zunami
Weโve yet to review Zunami Protocol in full, but the poolโs stellar launch is definitely on our radar. Their gauge vote was recently passed by the DAO:
And in turn huge rewards for stablecoin farmers, available at many locations:
Spiral
Another protocol we have yet to dive into, having first started making noise this month. But they are making moves and worth keeping on your radar:
Disclaimers! Author has exposure to projects mentioned including positions in Curve, Convex, Stake DAO, Conic, and Siloโs $XAI.