⚡Crucial Crypto Metric Hits All-Time High
Plus Sony's Layer 2 Chain, ETH Bull & Bear Theses, and more
Estimated Read Time: ~5 minutes
⚡In Today’s Edition
Is BTC right on schedule with previous cycles?
Orderly Network’s Big O Campaign
A new Solana dashboard
Stablecoin market cap all-time highs
📖 Recommended Reads
⚡Sony is building an Ethereum layer 2 chain
Industry titan Sony wades further into Web3, announces testnet partners Chainlink, Circle & Optimisim
⚡Orderly Network receives LayerZero grant, sharing ZRO tokens with community
Orderly launched The Big O Campaign (Aug 22-Sep 5) and is giving away 50,000 ZRO tokens. Learn more about quests to earn tokens here
⚡Kamino Finance 101 Full Report
Learn more about the protocol holding 30% of Solana’s TVL
In-depth bull and bear cases for ETH
Despite price action for the past several months, Bitcoin is doing what it’s done every cycle
⚡Blockworks Creates Complete Solana Dashboard
Critical Solana metrics, all in one place
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🔢On-Chain Analysis
We Are So Back: Total Stablecoin Market Cap Hits All-Time High
Notable stablecoin market cap percentage increases include Ethereum, Solana and Base.
Base Reaches 1 Million Daily Active Addresses
Base also hit a major milestone, and growth is taking off compared to other L2s with more active users and more transactions than competitors.
Two drivers of growth on Base:
Basenames - 200k Basenames created in less than one week
Aave surpasses $100M TVL on Base, indicating heavy usage - the Aave team also unveiled the Endless Summer program rewarding Aave users on Base
🚜Farm of the Week
JitoSOL-SOL on Kamino Finance
Kamino Finance is one of the largest protocols on Solana with over $1B in TVL. There are hundreds are markets available for lending & borrowing your assets, providing liquidity and leveraging tokens.
How it Works
Earn yield on your JitoSOL and earn Meteora Points simultaneously.
For those holding either SOL or JitoSOL (JitoSOL is a liquid staking token that’s already earning nearly 8% APY), you can deposit either of these assets into the JitoSOL-SOL Liquidity pool on Kamino to earn 8% APY and Meteora Points.
The best way to take advantage of this farm is to provide JitoSOL tokens that are already earning ~8% APY, effectively doubling the APY while also farming the upcoming Meteora airdrop. APY comes in the form of Jito JTO tokens, which can be used on Kamino Liquidity to earn 25% APY.
How Kamino’s Liquidity works:
Risks
Impermanent Loss
Onchain and Crypto News This Week:
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🛠️Tool Spotlight
Discover Trending Dapps with DappRadar
DappRadar has a wide selection of dapps, DeFi projects, games NFT collections paired with essential data - usage statistics, volume, top trending contracts and more.
Use DappRadar to find top trending contracts, and head to the Rewards tab to find data on the latest airdrops: the estimated airdrop date, the likelihood of the airdrop, the actions required to qualify, and how many users are participating.
More helpful DeFi Tools: The Dynamo DeFi Crypto Tools List
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📅Key Events This Week
Macro Events
📊BOJ CPI - August 27th
📊CB Consumer Confidence - August 27th
📊Q2 2024 GDP data - August 28th
📊July Pending Home Sales data - August 28th
📊July PCE inflation data - August 30th
Token Unlocks
🔓TokenUnlocks: Track token unlocks and make better investment decisions. Use my code DDNM5 for 5% off Pro Plans.
🔓YGG (3.79%) - August 27th
🔓AXL (2.68%) - August 27th
🔓DYDX (0.57%) - August 27th
🔓AGIX (1.58%) - August 28th
🔓 PORTAL (0.52%) - August 29th
🔓MAV (1.19%) - August 30th
🔓DINERO (1.88%) - August 31st
🔓OP (2.64%) - August 31st
🔓PRIME (1.68%) - August 31st
🔓SUI (1.71%) - September 1st
🔓CETUS (1.25%) - September 1st
Launches & Updates
Note that these launches are mostly unvetted by the Dynamo DeFi team and this isn’t an endorsement of any of them.
🚀FluxAI beta launch - August 28th (Source)
🚀Alex Labs hardfork - August 28th (Source)
🚀Chainflip fill-or-kill mainnet release - August 29th (Source)
🚀Kaia Mainnet launch - August 29th (Source)
⚡Favorite Resources
If you want to dive deeper, here are some of my favorite resources:
🛠️ The Dynamo DeFi Crypto Tools List: A comprehensive list of 100+ crypto tools to help with portfolio tracking, analytics, airdrops and more.
🚀 RocketX: The 1-stop-shop to get the best rates for on-chain & cross-chain swaps.
🛡️ Ledger: The smartest way to secure your crypto. Buy & sell crypto with full control over your assets.
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Until next time,
Dynamo DeFi