Sponsored by Maple Finance
Get Over 18% APY on USDC (aka Institutional Yield) With 1 Click
Trust is broken in Crypto. Tons of protocols are promising you the world, but giving you nothing.
Maple Finance is different from the rest.
How so? They're combining the rigor of institutional lending with the transparency of DeFi. Maple's becoming THE trusted institutional lender in the space since 2021.
Maple has grown ever stronger – delivering yields 5-10% higher than competitors like Compound and AAVE.
Some Maple Wins:
- $550M in TVL (6x YoY growth 🤯).
- $4.3M in annual revenue (850% YoY growth).
- Overcollateralized loans that are verifiable in real-time.
- The chosen lending partner for leading institutions (funds, OTC desks, exchanges, trading firms, etc.)
And how can YOU benefit from it?
Maple is launching $SYRUP token on November 13th (a 1 to 100 token split from $MPL).
1. Through SYRUP staking, fee revenues generated from Maple's and Syrup's lending operations will be used to buy back the SYRUP token.
2. In the first 90 days, 5,000,000 SYRUP will be distributed to stakers in the first 90 days.
If you want access to the rising institutional demand for onchain credit and rising demand for institutional yield, then check out Maple Finance and Syrup.
Protocol
Kamino Finance: SOL's Leading DeFi Protocol
Everyone thinks Solana is a shitcoin factory because of Pump.fun's success. But Solana's crushing it on the DeFi space too.
What is Kamino Finance? It is a DeFi protocol on Solana where users can do a bunch of cool stuff, including:
- Providing liquidity.
- Borrow and lend tokens.
- Lever up on LST yield with one-click looping.
- Take leverage with directional exposure with a single click.
This cycle, Solana has become the new center of crypto activity. And Kamino Finance has grown massively alongside Solana. The numbers don't lie:
- In total, over $1.01B has been borrowed from Kamino.
- Users have supplied over $2.63B to Kamino in total.
- Kamino only made $419k in fees in January 2024. In contrast, they made $5.36M in October 2024.
- In January 2024, Kamino only had $225M in TVL. This is now at $1.75B, making it the second-largest protocol on Solana.
And now, Kamino's latest power move? Partnering with Jito, the biggest dApp on Solana by TVL, to provide a juicy yield opportunity.
What is Jito? It's a Liquid Staking Service. Deposit $SOL, and in return, you get $JitoSOL — a token that normally earns you a respectable ~8% APY. It controls 43% of the SOL LST market.
But here's where things get spicy: Kamino's new "Multiply Vault" lets you earn ~22.27% APY on $JitoSOL with a single click.
You can click here to access the "Multiply" feature. The reason for high APY is the implementation of a "looping" strategy in the backend.
What is looping? It's a strategy to increase returns by repeatedly supplying and borrowing the same asset. In this case, we're:
- Step 1: Depositing $JitoSOL to borrow $SOL.
- Step 2: The borrowed $SOL is converted to $JitoSOL.
- Step 3: The new $JitoSOL is deposited to borrow $SOL again.
- Step 4: Go back to step two.
- This process can be repeated as many times as needed.
In the case of "Kamino Multiply Vaults," the protocol does the looping as many as 10 times with just a single click. And right now, you are able to gain up to ~22.27% APY.
But don't get too comfy — this golden opportunity relies on the cost of borrowing staying below the $JitoSOL yield.
Right now, borrowing rates are ~6.5%, while $JitoSOL yields ~8%, so the math works in your favor. For now.
On the bright side, no one has ever been liquidated in Kamino LST Multiply yet.
Also, $SOL liquidity for looping is limited. And with yields like these, it'll go fast. So, make use of it while it lasts!
A catalyst that I'm excited about is their upcoming v2 launch. They have promised novel primitives and powerful automations.
(At the time of publishing, the vault has exhausted $SOL liquidity. So, you might have to wait until someone else exits their position or for Kamino to increase the vault cap. Or you can monitor Kamino to find other similar opportunities)
🚀 DeFi Catalysts
Ethena is discussing switching on the fee switch. Wintermute proposed to allocate a portion of the protocol to $sENA. ENA is up 34% on the daily chart.
Arkham Intelligence introduced its own Arkham Perpetual Exchange. This is a new product for them.
Morpho DAO has decided to enable $MORPHO transferability. The took will start trading soon. It should drive more attention to protocol.
Euler Labs introduced Euler Prime. It is a multi-collateral lending market. And they're incentivizing it with rEUL rewards.
F(x) Protocol has published the whitepaper for their v2. It introduces 10x fixed leverage, zero funding costs, no individual liquidation risk, and more.
Skate chain users can now place bets on Polymarket through the Skate Mini-app. It has integrated Ton Network and Polygon.
Pencil Protocol introduced Pencils Auction. It'll use cutting-edge auction formats for token launches.
ParaSwap has released Delta v2. This update should mean more competitive pricing and better results for traders.
Shogun Beta has expanded to Ethereum Mainnet. It is a TG Bot that aims to support trading on most chains. They had already integrated EVM L2s and Solana.
Contango has made all $TANGO sold through Fjord Foundry claimable. You can earn protocol fees by providing liquidity in their balancer pool.
🪂 Airdrop Alpha
Dynamo DeFi has released a spreadsheet with 77 projects that you can farm for airdrops.
Sui Name Service is launching a token. 10% of the token supply will be airdropped to users who have engaged with SuiNS meaningfully.
OpenSea has opened a waitlist for a new version that's coming in December. Many are speculating on an airdrop or points program.
🚀 New Launches
Superform, a place to earn yield, has released Universal Rewards Claiming. It'll give you access to all your earned token rewards on any chain.
Valantis Labs has launched Validly. It claims to be a flexible AMM on top of which new fee mechanisms, liquidity primitives, or tokenomics designs can be built.
🐦⬛ X Hits
- Tools to check all of your Solana airdrops allocations.
- Year-to-date performances of various crypto sectors.
- Tools to check all of your Solana airdrops allocations.
- A wallet tracking strategy to find gems.
- Web3 AI Agent ecosystem map.
😂 Meme
Until next time,
Edgy "thinks we should Make DeFi Great Again"
p.s. time for monk mode
Today's email was written by Edgy and Yayya.
DISCLAIMER: I'm NOT a financial advisor. This content is for education and information purposes only. Crypto and DeFi are risky and speculative. Please do your research before investing.
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