⚡ONDO & Blackrock BUIDL Fund Lead RWA Grow
Plus opportunities on TON, a tool to protect from hackers, and more
The Dynamo DeFi newsletter covers trends, on-chain analysis and tools in crypto each week. Be sure to also check out my YouTube for more regular content.
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📈Trends and Narratives
ONDO & Blackrock BUIDL Fund Lead RWA Grow
Real World Assets are one of the most promising narratives in the crypto industry. While the narrative fluctuates in popularity, zoom out and the RWA sector has been on the up.
Total tokenized treasury products have nearly doubled since the start of the year and 10Xed since the start of 2023.
One of the standout applications both in the RWA sector and in crypto as a whole is Ondo Finance, which tokenizes assets like US Treasuries. This year Ondo’s TVL has seen strong and steady growth.
RWAs are a logical destination for institutions to partner with protocols, tokenize assets and take advantage of stablecoin technology for their millions of customers.
Blackrock’s BUIDL fund of on-chain treasuries has led the way in growth this year, surging to over $450M in AUM since launching in March.
While these numbers might seem big by crypto standards, they’re only a drop in the bucket compared the trillions of dollars in real world assets that could be tokenized eventually. The total addressable market eclipses anything in crypto so far.
How to Capitalize
Here’s a great thread going deeper on the RWA sector, Blackrock’s BUIDL fund, and the tokens they hold inside the fund. The protocols listed in this thread are still quite small.
The ultimate RWA protocol winners will attract monstrous amounts of capital. Here is a list of protocols with tokens launched, sorted by market cap.
⚡Monthly Group Call with Dynamo DeFi Pro Subscribers this Wednesday
This Wednesday, I’m holding the monthly Zoom call with premium subscribers. Here, we’ll talk about the trends driving the crypto market for the next month.
The premium version of Dynamo DeFi gives you deeper insights and teaches you how to research yourself.
For $11/month (less than lunch in most countries), premium subscribers get:
⚡Discord to discuss on-chain data and trades. Learn more here.
⚡Community calls & AMAs in Discord. 3X per month I’m holding community calls and AMAs in the Dynamo DeFi Discord.
⚡Exclusive newsletters & on-chain data indicators. Actionable insights about which tokens have strong fundamentals. Plus special in-depth reports.
⚡Pre-recorded videos. These will be longer in-depth videos where I show my research process. View past videos here.
⚡Monthly group calls. Each month, I’ll conduct a group video call to discuss the market, latest crypto trends, and more. Premium subscribers can access calls here.
🔢On-Chain Analysis
TON Ecosystem Attracts New Money
Telegram’s TON (The Open Network) blockchain token recently broke into the top 10 coins by market cap, surpassing Cardano and growing to a $16B market cap. Telegram boasts 900 million monthly active users - about 10x the number of U.S. residents that currently hold crypto, and nearly double the estimated number of total crypto owners worldwide.
TON TVL, excluding liquid staking, is up over 20x since the start of 2024, and is in a strong uptrend - doubling in the month of May alone.
TON’s top 3 dApps have cumulatively added hundreds of millions of $ of TVL in the past month.
Telegram embracing crypto is a huge step for crypto adoption, and TON is poised to play a major role in the Telegram crypto ecosystem.
🚜Farm of the Week
TON/USDT on DeDust
DeDust is a DEX built on TON. The protocol has been around for about a year, but didn’t start to see TVL growth until TON began catching fire in March. TVL is up nearly 70% in the last week, breaking through the $100M mark.
How it Works
Earn 220% APY by providing TON & USDT liquidity on DeDust.
The pool has plenty of liquidity, you’ll just need one of these wallets:
If you’re outside of the United States, you should be able to simply use the Telegram Wallet. That wallet is geo-blocked for users residing in the United States, so I use Tonkeeper wallet instead.
I go through how to set up this wallet and explain how to bridge to the network, as well as discuss more DeFi strategies in this video:
Risks
Impermanent Loss
Here’s the difference between APY and APR. Hint; APY takes compounding into account, and APR does not.
🛠️Tool Spotlight
Protect Against Wallet Drainers with Pocket Universe
One click is all it takes to have your entire wallet drained, and attackers are getting better at pretending to be legitimate. Pocket Universe is a browser extension that analyzes your transactions before you sign, protecting you from potential scam transactions. The extension is compatible with most wallets and does not have any control over your wallet assets.
Pocket Universe also offers insurance on your transactions, for a small fee. The extension has a 4.8 star rating with over 100 reviews.
📅Key Events This Week
Macro Events
📊ADP Nonfarm Employment Data - June 5th
📊May Jobs Report - June 7th
Token Unlocks
🔓 DYDX (0.57%) - June 4th
🔓 LQTY (0.68%) - June 5th
🔓 GAL (1.76%) - June 5th
🔓 IMX (1.39%) - June 6th
🔓 HFT (3.36%) - June 7th
🔓 GMT (1.75%) - June 7th
🔓 ENS (0.94%) - June 8th
🔓 FLR (1.61%) - June 9th
🔓 WOO (0.71%) - June 10th
Launches & Updates
Note that these launches are mostly unvetted by the Dynamo DeFi team and this isn’t an endorsement of any of them.
🚀Solv Protocol Ethena integration - June 3rd (Source)
🚀ETH Belgrade Conference - June 3rd (Source)
🚀Only1 Roadmap Reveal - June 4th (Source)
🚀Mina Protocol Hard Fork - June 4th (Source)
🚀Hedera Testnet Upgrade - June 5th (Source)
🚀 Arweave PermaWeb 1.0 launch - June 6th (Source)
🚀 VoltInu Bullet rain game launch - June 7th (Source)
🚀 CYBER mainnet staking - June 8th (Source)
That’s all for this week. For more frequent content, follow me on Twitter and YouTube.
Until next time,
Dynamo DeFi