💣 Degen Heaven and the DEX Powerhouse

A weekly recap of the largest crypto events and narratives, with an extra dose of insight.

Here’s what we have for you:

• Kyberswap hack

• PYTH outperformance

• RWAs not so sexy, but good

• PowerTrade launches PowerDEX

• Standard protocol’s membership

• APX Finance, degen heaven

GM Raiders. For those who celebrate, happy thanksgiving. Hope you’re stuffing yourself full with turkey. This year’s thanksgiving conversations seem to be a little easier than last year. Last year, we were grappling with FTX’s fallout, while this year, we have seen prices been up only for the past few weeks. 

A notable outperformer has been $PYTH, which is currently trading at $0.51 from its launch price of $0.30. $BLUR has also rallied over the past few days following the announcement of BLAST, the L2 being developed by Blur’s founder, Pacman.

KyberSwap, one of the OG DeFi protocols got drained for $46M. In an absolute chad move, the hacker sent KyberSwap a message saying “Dear Kyberswap Developrs, Employees, DAO members and LPs, Negotiations will start in a few hours when I am fully rested. Thank you.” Yea, it really doesn’t get more based than that. F in the chat for those who lost funds though. Here’s an in-depth read into the exploit if you want some super technical insight.

-RektRadar

RWAs, not as sexy but here to stay

I know that RWAs are definitely not as sexy as other sectors, such as AI, telegram trading bots, DEXs, liquid staking, GambleFi, or GameFi. But one thing I can assure you is that RWAs are here to stay. RWAs span from mortgages, stocks, bonds, a piece of music, credit funds, anything that exists offchain really.

The value in blockchain for RWAs is clear, and trillions (I’m not exaggerating here) will be onboarded over the coming decades. Picks and shovel plays for RWAs will likely be the clear winners, followed by RWA issuers who have a business model like Lido where they take a cut on interest paid out.

In terms of picks and shovels, some outstanding picks are Centrifuge, a decentralised asset financing protocol, and Goldfinch. On the asset issuance side, you have protocols such as MakerDAO, Frax, and Ondo who are all issuing tokenised assets.

PowerTrade launches PowerDEX

• Want a DEX that has all the capabilities of an advanced CEX? Wait no more. PowerDEX, a decentralised trading platform that offers crypto derivatives such as perps and options is here.

• SPAN portfolio margin, multi-collateral support, and USDC settled products are a small taste of what the DEX offers. If you’ve ever wanted to trade derivatives on a large range of alts (such as wanting to buy calls on something that is going to rip in the incoming bull market), PowerDEX is the place for you. It truly is the best of both worlds.

Standard Protocol’s Membership Program

• Imagine trading, paying fees, then getting 40% of fees from all pairs back. That isn’t a dream, it’s the reality with Standard. Even if your order doesn’t match, the revenue comes back to you so that traders can always get a piece of the pie.

• They’ve just released a membership program that utilises a Trader Impact (TI) score to track one’s overall contribution to the protocol. The greater your impact, the larger your benefits such as reduced trading fees and unlocking access to enhanced liquidity.

APX Finance catering to the degens

• What is better than 1,000x, that’s right, 1,001x. That’s the amount of leverage you can get on APX Finance, a derivatives DEX backed by Binance Labs, currently live on Arbitrum and BNB Chain.
  

• Perp trading not for you? They’ve also released a dumb mode on BNB Chain, where the only thing you have to do is guess whether the price go up or down. That’s all we do anyway right. Using this price prediction product, traders can go long/short depending on where they think price is going in 60 seconds, 5 min, and 10 min expirations.

1. Deposit some money into Blast L2 if you believe in Paradigm

2. Watch out for AVAX as it often trades as a catchup trade to SOL. Remember SoLunAvax

3. Lean into the -20 trend, such as BRC-20s, ASC-20s, and now SPL-20s

4. Apecoin wants to launch ApeChain, watch the Ape token carefully

5. Try out Bunni V2, an advanced perp DEX built on Uni V4

Asymetrix V2 is live, a look into a non-custodial protocol for asymmetric yields

KTX.Finance’s trade and earn season is live

Avantis’ public testnet, perps on Base

Sudoswap’s gradual dutch auctions are a cool mechanism

What are the AI potential top performers?

What’s the best way to play FrenPet?

Thread of threads for the hottest narratives and winners

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