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- Mojo Report #4
Mojo Report #4
Your weekly DeFi update. The good stuff, but not financial advice!
Rumors about a OTC trade between Blackrock and the US gov are floating around.
If this is true, the US would sell their BTC worth $1.8B to Blackrock. This could cover the initial demand for the ETF.
BUT it’s just rumors for now.
Overview
✅ CEX outflows BTC as well as ETH
✅ Active addresses are in a light uptrend again
❓ Stablecoin Mcap looks like it’s bottoming
❗️ Overall TVL is the lowest in this bear
A lot of FUD around the FTX sell orgy. The plan is to liquidate $200m per week.
However, a large portion of token is vested and therefore isn’t liquid. Only $9.2m SOL are unlocked per month.
Messari did a good job on the graphic, where you can see the sell pressure to vol ratios of each token.
FTX LIQUIDATIONS UPDATE
FTX liquidators hold approximately $1.3 billion of liquid crypto assets (excluding stablecoins) which have been dragged down by fear of FTX liquidations potentially beginning Wednesday.
Largest holdings: $SOL, $BTC, $ETH, $APT, $DOGE, $TRX, $MATIC… twitter.com/i/web/status/1…
— Messari (@MessariCrypto)
4:29 PM • Sep 11, 2023
DeFi Updates
Tangible expands to the US.
Currently they only own 173 properties in the UK.
After months of hard work, we’re thrilled to announce that the first tokenized 🇺🇸 US properties 🇺🇸 have been added to the #RealUSD treasury on @0xPolygonDeFi.
These new units are a major step forward in the diversification of the $USDR real estate backing.
— Tangible 🏠💙 (@tangibleDAO)
6:20 PM • Sep 4, 2023
$CVR a liquid wrapper for $PEARL is doing very well. Currently you get a nice three digit yield on it. ~170% in $USDR and $CVR rebase.
If Pearl can keep up those high numbers, it could become a real successful ve(3/3) DEX.
They also made a new ATH in TVL with $89m
CAVIAR yield continues to lead all DeFi opportunities over $1MM TVL.
Current return: 236% APR
Supply is up ~16% on the week with other KPIs steady or improving.
Elevate your earnings to luxury status with $CVR twitter.com/i/web/status/1…
— Tangible 🏠💙 (@tangibleDAO)
8:48 AM • Sep 8, 2023
Proposal passed!
That means there’ll come a huge liquidity injection to Mantle and protocols building there.
I’m talking about Mantle for quite some time now, because it was clear stuff like that is going to happen.
That’s why I’m farming project token since the beginning.
[PASSED] MIP-26: [EC Proposal] Treasury Assets in Support of Applications
A proposal authored by the Mantle Economics Committee has passed with 149M MNT/BIT voting Yes and 3.2K MNT/BIT voting No
snapshot.org/#/bitdao.eth/p…
— Mantle (@0xMantle)
7:56 AM • Sep 12, 2023
Treasury yield on Mantle. It seems there’s a high demand for secure yield. Even better when it’s in the form of a yield bearing stablecoin.
It's Official: Ondo Finance’s USD Yield ($USDY) is coming to Mantle 🤝
🥳 We're thrilled to announce @OndoFinance as a Showcase Partner for RWAs. For the first time, users will be able to access U.S. Treasury yield directly from their wallet on Mantle.
mantle.xyz/blog/ecosystem…
— Mantle (@0xMantle)
10:02 AM • Sep 12, 2023
ThorChain is building almost in silence. If you compare what ThorChain has been in the last bull and what it is now… what a difference.
I expect $RUNE is going to perform excellent!
It’s the first project with a solution for native swaps. Others are also on the rise, but ThorChain has the advantage of a pretty strong community.
Memoless transactions are coming to @THORChain ⚡️
It's pretty incredible and makes trading using THORChain's rails completely wallet agnostic
Swap directly from Bitcoin Core
Add to Savers from Electrum
Take out a loan from your Trezor
Any action, any wallet👀Let's dive in👇
— FamiliarCow (@familiarcow)
8:13 PM • Sep 11, 2023
stERN the yield bearing stable of Ethos Reserve. It’s basically the USD stablecoin version of wstETH.
Ethos currently holds 10% of the wBTC supply on Optimism.
V2 will allow LSTs as collateral and a RWA Ethos version will come as well.
Let's take a look at the new @EthosReserve staked ERN (stERN) product. $stERN
(This thread is for information purposes only, and yes, I am an OATH ecosystem contributor.)— yuvi (@crypto_yuvi)
1:19 AM • Sep 4, 2023
Investing
A little portfolio update. Yes, I hold way too many coins!
But I feel comfortable with it, I can keep up with the news and the majority of my holdings is in ETH.
It probably would be smarter to have a bigger BTC allocation since it leads the way. But I’d rather buy more ETH and I think BTC won’t outperform ETH for long.
I also trade some of them on a regular basis and I’m not just holding them until the bull arrives.
The plan is to DCA mostly into ETH for the next few months and rotate into other alts when the bull started.
Macro
I’m always preaching to look at liquidity and I also gave you the metrics to look at in the last Report.
As long as liquidity will stay on this level, we get dumps and pumps on a constant basis with boring periods in between.
Let's talk Global Liquidity.
For the past two cycles, Global Liquidity was an early indicator the bull market was starting.
However, its decline lagged substantially behind the end of the crypto bull market.
— Stephen | DeFi Dojo (@thecalcguy)
8:02 PM • Sep 11, 2023
Stay Sexy!
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