olimpio

🚜 10 hours left to deposit on @stable. $970M so far This will likely be nowhere as good as Plasma's $XPL, but given market conditions, it probably still outperforms current rates. Rules: -Max amount $1M per wallet -KYC needed -Total deposits accepted: $500M -USDC on mainnet -Allocations calculated pro rata -After allocations are determined, the excess of $500M will be refunded -This is the second wave of predeposits. In the first wave, they raised 850m, where alleged insiders feasted -Website: hourglass[.]com/stable -Contract: 0xd9b2CB2FBAD204Fc548787EF56B918c845FCce40 Yesterday's timeline: -They messed up their front end while attempting to prevent direct contract deposits, so they had no way to properly track who deposited on their website and who did it directly -As a consequence, they now accept all deposits, front-end or smart contract Pro rata allocations -Total cap is still 500M, but it will be filled pro-rata -The deposit contract accepts up to 10B USDC. Currently, it has 945M. -People can deposit up to 1M per wallet and get an allocation based on their share of total deposits -Example: a wallet deposits 1M. Total deposits = 1.5b. This wallet gets a $333,335 allocation, and $666,665 is refunded. -1 000 000 / 1 500 000 000 = 0.066667% -0.066667% of 500 000 000 = $333,335 What we are getting out of the predeposit: -It's not public yet whether this will be a direct airdrop or a token sale (like plasma). It's also unclear how much total token supply will be allocated to this. Deposits lock: -First 850m wave: used @ConcreteXYZ to handle deposits. On Dec 13th, users can request a 7-day withdrawal -Second 500m wave: using @hourglasshq to handle deposits, and there's no information yet, but from their discord they've said max 31st of Dec. If you want to monitor the influx of deposits: -https://etherscan[.]io/token/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48?a=0xd9b2cb2fbad204fc548787ef56b918c845fcce40 What are they doing with the money? -Plasma deposited it on Aave, and then it was bridged to Plasma. -Stable, for the first wave, deposited on some Morpho vaults (good looping opps there) -Second wave, unclear. TLDR; there's not much clarity in lots of stuff, but we will still likely see hundreds of millions more in deposits since they'll be promptly refunded after the $500m allocations are calculated. However, as there's a 1m cap per wallet, it's not that straightforward to deposit massive size. Expect problems/delays with website/KYC, it doesn't work. I'm in their discord, but I heard it's not currently possible to join due to a bot bug. This execution has been shady, buggy, and non-transparent. Only in crypto we still see 1b deposits flow within 24 hours in spite of all the incompetence... For disclosure: The worst part is I've already deposited, and will prob allocate more 😂 GL farmers 🫡

Lighter ($LIT) added to Coinbase roadmap @Lighter_xyz 10m ago Linked token contract 0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2

USDe 1.00248 in the first minutes of activity, perhaps worth it to place some stink bids fyi, stargate has direct deposits to hyperliquid. HyENA front end is using Relay, which could have a bit of slippage for USDe

HyENA perps exchange launched a few minutes ago🚜. Invite-only, first mover advantage opportunity. (my code → olimpio) Hyperliquid: - @HyENAtrade is Ethena's new perp protocol. - Built on top of Hyperliquid's stack under HIP-3 - Positions get 4% USDe yield (spot and margin used). Up to 12% Points: - HyEna Points also launch today. 100M weekly distribution - 24 weekly epochs (ends in 6 months) - At the program's end, HyEna points → converted to ENA HLPe: - HLPe vault also launches. Earns yield from funding rates+MM+liquidations+70x sats - HLPe caps = $10M. This will probably fill fast I've been in touch with the team, and they've enabled a custom link for me. Not many are available. Right now it's invite-only: app.hyena.trade/ref/olimpio More details below 👇

🍿 @MegaETH: PURE CINEMA 🍿 They won't be increasing caps to 1B anymore. What happened? 1. Pre-deposit campaign was scheduled for today, 9AM 2. Maximum deposit amount was 250M 3. At 9AM, website crashed and nothing worked for around 1 hour 4. When it started working, 250M caps were filled in 3 minutes 5. The team announced a cap increase to 1B 6. People started complaining, team clarified that first wave depositors would not be affected (i.e. you can infer their yield won't be dilluted) And this is when it gets interesting: 7. In preparation for the 1B cap increase, they queued the setCap transaction in their multi signature 8. But they made a mistake and signed it 4/4, so it was ready to be executed trustlessly by anyone. They should have kept it 3/4 9. So @chud_eth went in and executed the cap increase 34 minutes before it was supposed to be live 10. People started depositing 11. The team queued another tx to cap it at 400M 12. But it was already at +400M, so they had to cancel and build a new transaction to cap at 500M 13. They executed and capped it at 500M 14. Cap reached 15. 1b cap increase tx queued again in the multi sig, but.... 15. Now they just said they won't be a 1b cap increase TBH, insane ride

Meanwhile, polymarket got rekt