3 Things to look for in a new Chain
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3 Things to look for in a new Chain
Example & Update on everything about ZKsyn
3 Things to look for in a new ecosystem
Been getting dms asking am i bullish on every chain i write.
i look into all "hot" chain because...
A thread on what i look for in new chains using zksync as example
New Chains typically has 3 key opportunities
1️⃣ Early Farming
2️⃣ Good Risk & Reward Early Token bets
3️⃣ Ecosystem Incentives
Bonus~! update n overview of all
1️⃣ Early Farming
There are a few types of early farming, emission reward base or real trading yield
n of course if you are early, the pool size is small as well.
🔹Emission reward
Dex fight to dominate liquidity hence boosting reward
🔹Real yield
Bridges are limited in early ecosystem, likely only hv eth for bridging. Users typically end up using swap to to convert eth -> usdc/usdt/dai
Also u farm the trading volume from people that wash trade for airdrop lol
farm the airdrop farmer kek
REAL TRADING VOLUME!
using @mute_io as example
Trading volume > TVL is always sign of a good farm.
Whether is from reason above or market volatility, it will be good!
2️⃣ Good Risk & Reward Early Token bets
Every ecosystem needs dex, lending, aggregator, perp
There is always a chance to bet on the "first", the "go-to" protocol.
I see these as leverage bet on the ecosystem.
Dapp tokens are likely to outperform the $OP or $ARB "chain token" if the ecosystem does take off.
However u still need to consider its valuation n tokenomics
Example
e.g. if @syncswap is doing an ido raise with under 20-30m fdv is worth considerating as the "go-to" dex with the highest tvl on @zksync
( i just made up 20m valuation randomly for example, they haven't anno anything yet)
But how can u find these protocols?
follow someone call @2lambro i heard he is pretty good
Use his twitter list to check updates of zksyn project
https://twitter.com/i/lists/1640163264226299904
heres two threads on 50 projects on zksyn
( unfilter list, some rugged n disappeared lol )
But all jokes aside i haven't found a go-to source for zksyn material right now i am just closely monitoring trading volume, new pairs and all the launchpads on zksyn right now.
3️⃣ Ecosystem Incentives
Right now there aren't incentives like @optimismFND but only potential airdrop.
But often the the best farms are good protocols that got incentives from chains. They are typically vetted by the chain + incentives are back with thick liquidity.
🔥 Update n overview of all @zksync
TVL growing
Trading vol is growing but mainly for eth
No innovation mainly forks
Not a lot of shit tokens yet, but less rugs now
Things to do
small capacity farming opportunity
incentive trading/ farming
airdrop hunting
Breaking into more detail
👩🏻🌾Yield
@syncswap
eth/usdc 22.6% apy TVL 48m
BUSD/USDC 6.4% TVL 3.2m
@mute_io
eth/usdc 22%-53% apy TVL 13m
(their yield boost is are carry over all pairs, so it might be a more effectly farming if u are doing mulitple pairs)
@velocorexyz
eth/usdc 17.44% apr
(solidly yield, but brible aren't that gud atm)
@spacefi_io
eth/usdc 38% apr if u lock 7 days, 26% of it is in xspace
(xspace unbond in 30days or -50% of instant unlock)
@veSyncL2
eth/usdc apr 28% apr
(solidly yield, but brible aren't gud atm)
@mavprotocol
its basically uniswap v3 kinda, not sharing apy.
if u have views on the price of eth can check it out!
@overnight_fi
u can mint usd+ with usdc, they then put ur usdc into work for yield for u.
but the yield on zksyn right now is all usdc/usd+ LP on different swap a bit of circle jerk really
@izumi_Finance
farming for uniswap v3 position mainl for shitcoin pairs (degen farm)
📍Lending markets
@Era_Lend
3.2m tvl supply or borrow rate aren't high
u can only borrow/lend eth & usdc
@fringefinance
soon on zksyn still waiting
📍Perp
@OnchainTrade
synthetic perp + swap
i don't fully understand yet. but seems like its a mixing different pools together to share perp + swap fee yield.
i have raised some questions in their discord.
I don't fully understand it yet wont comment it
Some projects i have an eye on
@derivio_xyz
@zkaliburDEX
@MESprotocol
@mesonfi
@DerpDEXcom
@derivio_xyz
one of the more legit looking projects, still on testnet tho.
u should be able to trade perp & option. looks like a gmx model for the perp part with some lock staking feature on glp, they call it bond not sure can u trade “interest rate” of their glp yield
@zkaliburDEX
camelot on zksyn basically. As a fan of camelot i will be keeping an eye on it. IDO coming soon
@MESprotocol
WOW a lot of progress from last time i checked when they didnt even have a gitbook.
They now have a working order book dapp + gitbook.
ngl tho i don’t really know what can i do there n haven’t had the urge to trade there n im not sure about where they liqudity comes from. need a deeper dive to search for potential opportunty.
if the mes team see this feel free to dm me!
@DerpDEXcom
Dex with v2,v3
WHY M I LOOKING AT IT?
I fucking love memes
look at this derp shit, come on.
i'd paid a extra bps in trading fee just to support them lol
@mesonfi
cross chain swap, quite interesting go-to-market strategy
they are leveraging OKX wallet intergration n “missions” for rewards there to get users.
But u have to register somehow to provide LP and docs seem no sign of issuing token any soon. not much to invest for me
Now thats a wrap.
hope u enjoyed it.
feel free to follow me on debank or donate to me
0x3Af0e0Cb6E87D67C2708debb77AE3F8ACD7493b5
if u do donate please dm me after!
i need to hit 10k before end of June
As part of my bet with my friend, because i said i can reach 10k followers without airdrop in 6 month starting from jan
i sell alpha & research for followers & attention.
get on all my social pls
