$ETHFI Airdrop, $NMT Hacked, Blackrock On-Chain!! & More

The Castle Chronicle: Volume 61

AuthorAuthorAuthorAuthorAuthor

unex, gmx intern, DeFi Man, C-L.eth & CJ CJ
March 20, 2024

 👀 What’s to Come in Volume 61

🔑 Key News: Headlines, Exploits, Continued Adoption, DeFi Updates, New Projects & more from CJ

⛓ On-Chain Sleuthing feature from Cl

🔥 Hot Narratives: Berachain anticipation, Aptos Airdrops & parallelized chains from unexployed

📉 HTF Price Action Scenarios: What’s the plan during pullbacks?! from Vlad

👁️ Early opportunities: Bitcoin Ordinals Airdrops from GMX Intern

⚔️ A Call to Arms

Think you have what it takes to enter the Castle and contribute to funding and advising projects across the space?

🔑 Key News

Major Headlines

Project Updates

Interesting Projects

  • Tableland: Decentralized cloud database

  • Drakula: Social Fi on Base backed by Paradigm & Dragonfly

  • CitizenX: Platform to invest in your citizenship

  • Wayfinder: Omni-chain tool providing ways for you to interact with AI onchain

  • BaseMind Labs: AI ecosystem incubator with decentralized LLM and API access on Base

  • Light: EVM UX fragmentation solver

Courtesy of CJ - check out his telegram channel for daily news, projects updates and new releases

⛓ On-Chain Sleuthing

Blackrock’s Digital Liquidity Fund

Something huge was launched on-chain yesterday. Blackrock announced and declared the address of their new BlackRock USD Institutional Digital Liquidity Fund. A fund that is entirely on-chain, on Ethereum mainnet.

It is unclear what Blackrock plans to do with the money, but since Larry Fink has been a huge proponent of tokenized assets, we suspect it will have something to do with tokenized tbills of some sort.

You can follow the movements of the assets in real time:

Already, degens have been sending memecoins to this address.

And one debank user even gifted the address a nice banner.

We hope to find out soon what Blackrock plans to do with this fund. Nonetheless, this is absolutely huge for this space!

CyberPrince is Back

You may remember the Remilio/Yayo whale who became famous in the NFT season last year.

After his enormous success he sold all his ETH and NFTs. Declared them dead and left the space. It seems that he is back on-chain. We found his address and he is back buying NFTs.

Cyberprince New Wallet [only available for free subs]

From his activity, it seems that he is back buying the dip on Remilia NFTs after the recent drain of Charlotte Fang’s wallet. He has been buying a shitload of the ecosystem over the past two weeks.

Coming Catalyst for Gaming on Arbitrum?

An ongoing governance effort on the Arbitrum forum to bootstrap and incentivize gaming on the network.

Find the snapshot here: https://snapshot.org/#/arbitrumfoundation.eth/proposal/0x1a9f2097b0b5a0021628e9edb0e7c9bffae4fdbb104f9996463e40a3129c7718

The allocation of ARB toward this segment would be huge for on-chain gaming projects, especially for some already active on Arbitrum.

One wallet that we suspect to be affiliated with Primitive Ventures has already started to bid on some Arbitrum gaming projects among others $DMT.

Some big players may feel the beginning of a gaming szn on ARB?

Suspected Address [only visible for free subs]

We are not 100% sure that this addy is owned by Primitives, this on-chain statement needs to be taken with caution.

Research and analysis by Cl

$weETH Now Live on IPOR

IPOR is one of the first DeFi protocols to integrate with the top Liquid Restaking platform Ether.fi!

IPOR users are now able to deposit wrapped eETH on IPOR to earn a ton of yield:

  • EtherFi points (Season 2 launched on March 18)

  • EigenLayer points

  • Ethereum native staking yield

  • pwIPOR rewards

The weETH pool launch is just the first step. Next comes an Interest Rate Swap based on the AAVE v3 ETH borrow rate. That will enable leveraged loopers to hedge their ETH borrow costs on IPOR!

For the time being, liquidity providers can zap directly into the IPOR weETH pool with various crypto assets and stablecoins! 

👉 Find the pool here 👈

The IPOR Labs team is also gearing up for a number of major announcements in the coming weeks. More info to follow.

🔥 Hot Narratives

Berachain Launching Soon?!

  • One of the most anticipated L1 chains yet to launch.

  • Ongoing Testnet Galxe Campaign (link) for points since last year. (Will likely disappoint, because majority of tokens go to Berachain NFT holders and the campaign has 6.6mln participants).

  • DigitsDAO has been bidding $BTRFLY (regarded as berachain beta) and Berachain NFT collections.

  • They are very meme-centric and last year launched $4.20 mln. We have a suspicion that they may want to launch Mainnet on the 20th of April.

  • Some of Castle think that Berachain has a small chance to disappoint due to extreme hype around the L1, yet it has strong and good ponzinomics.

  • It will probably be another great sophisticated yield farm for ETH and stables (like Blast/Manta were).

Aptos Airdrops & Memes

  • Parallel chain with strong backers and Blackrock-affiliated team.

  • Some guidance for onboarding can be found in Chronicle 58.

  • Memecoins like doodoo, shrimp, and returd have performed decently during the dip and are virtually the only memecoins currently on the chain.

  • Lots of DeFi projects WITHOUT tokens: Liquidswap, Amnis Finance, Aries Markets, and Gator Trade.

  • Highly recommend to use Pontem Wallet as they are building Lumio L2, an EVM x Move Layer 2 solution on Ethereum.

  • Keep in mind that Pontem has NFT collections that will likely receive a large portion of the airdrop for Pontem or Lumio: Pontem Dark Ages & Pontem Space Pirates.

  • This post was written a few days ago and APT has shown significant strength since.

SmartestMoney.eth Pilled on FTM

  • Seen as the “new” GCR and regarded as one of the best trend-based traders of this cycle. His Twitter can be found here.

  • Pulled a bunch of omega-sized trades in public with big profits.

  • Andre Cronje, founder of Fantom, has announced that his chain will transition to an Ethereum L2 with extremely high transaction throughput powered by a parallel EVM.

Courtesy of unexployed

Use our referral system to spread the word about the Chronicle!

📈 HTF Price Action Scenarios

Gm frens!

Last week price seemed to be very overextended and I expected some kind of re-accumulation. On the 4H chart, price has started liquidating lows and dipping fairly deep, which makes me think this is going to be a deeper pullback.

  • Bigger pullback

  • Price underneath MA’s

  • Nothing to do

For now, the plan is the same as always during anticipated re-accumulations - wait. We want to see big money show their hand again before jumping on continuation trades. Right now the sells are in control, so there’s absolutely nothing to do but wait for better context.

Until then - Trade responsibly and I’ll see y’all next time!

Courtesy of Vlad - trend-based trader and MentFX student

👁️ Early Opportunities

The Airdrop Season Nobody Is Talking About

On top of price appreciations of BTC ordinals, holders are enjoying various airdrops. Coinciding with the upcoming Bitcoin halving, the Runes Protocol (great post by Soveryn on Runes) will go live. Proposed by Casey Rodarmor, creator of Bitcoin ordinals, the Runes protocol is a token standard for issuing fungible tokens on Bitcoin, that seeks to give users a more efficient way of creating fungible tokens. So the idea is that the Runes protocol will replace BRC-20 ‘fungible’ tokens (not Ordinals NFTs).

Many projects are preparing to launch fungible tokens using the Rune Protocol. To ensure a healthy distribution of tokens, many Ordinals communities are rewarded with airdrops, giving future allocations of certain Rune token projects. In January this meta was started by the RSIC airdrop (currently 0,07 BTC floor). Last week many more have come:

  • Runestones (0,035 BTC floor)

  • Rune Puppets (0,016 BTC floor)

  • RuneX: Secret Weapon (0,01 BTC floor)

  • Runes as Fuck (0,005 BTC floor)

  • Tiny Vikings (0,007 BTC floor)

Most airdrops are given to major communities in the ordinal space, like NodeMonkes, QuantumCats, Bitcoin Puppets, and more. The criteria can be different for an airdrop, for example for the RuneStone airdrop you needed a minimum of 3 ordinals in your wallet (you can check eligibility here: https://www.okx.com/web3/toolkit/btc-airdrop)

Airdrops will be received in your wallet without the need to perform a manual claim. They can be sold using an exchange like MagicEden. Multiple airdrops have reached prices of 0,01-0,03 BTC, but most also declined after a lot of sell pressure. It will be very interesting and potentially rewarding to keep an eye on the launch of the Runes Protocol and the first fungible tokens. No matter the outcome, it’s a very rewarding period for ordinal communities leading up to the launch!

Courtesy of GMX Intern

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Virtually yours,

The Castle

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In our newsletter, we may discuss projects or tokens in which we hold positions. While we aim to provide informative content, our views are not financial advice. Please conduct your research and consult professionals before making investment decisions. Crypto markets are volatile, and past performance doesn't guarantee future results. Invest responsibly, and be aware of the risks. Your capital is at risk, and we do not accept liability for any losses.

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