Research Summary
The report discusses the latest developments in the crypto investment landscape, focusing on Mantle’s new token for mETH yield, GMX’s expansion to Solana, and the yield calculation for Infinex’s lockdrop. It also provides an analysis of the governance token for mETH and the proposal for MantleLSP’s expansion.
Key Takeaways
Mantle’s New Token for mETH Yield
- Mantle’s Governance Token: A proposal on Mantle’s governance forum details the spinout of MantleLSP, introducing a new project token and expanding into liquid restaking. The tokenomics include 30% allocation to Mantle Treasury, 10% to the Core Team, 10% to Private Sales, and 50% to the Treasury.
- Farming mETH: The report anticipates the project to retroactively reward mETH past holders. The additional yield on mETH is expected to be ~7%, which can be boosted with leverage on INIT by up to 5x.
GMX’s Expansion to Solana
- GMX Proposal: A proposal has been put up on GMX’s governance forum asking for GMX DAO to cover audit fees of GMSOL, as well as granting a license for the replication, use, and front-end code. GMSOL operates independently but maintains a close relationship with GMX.
- GMSOL Points: GMSOL points will feature no pre-minting or pre-sale. The GMSOL Treasury will back these points. Rules for GMSOL Points will be disclosed before launch.
Infinex’s Lockdrop
- Lockdrop for Governance NFTs: Infinex is currently holding a lockdrop that rewards users for depositing USDC. The program lasts 30 days and will reward users 377m / 600m GP (Governance Points). The 600m GP can then be used to mint 3% of Patron NFT which gives governing rights.
- Lockdrop Farm: There is currently $86m worth of USDC deposited, of which ~$35m is reserved for a segregated whales pool, which does not earn from the 377m GP pool. This implies only $51m of TVL is farming the lockdrop at an APR of 220%.
Actionable Insights
- Monitor Mantle’s New Token: Investors should keep an eye on the development and performance of Mantle’s new token for mETH yield, as it could potentially offer significant returns.
- Assess GMX’s Expansion: The proposal for GMX’s expansion to Solana could have implications for the platform’s growth and the value of its token. Investors should assess the potential impact of this expansion.
- Consider Infinex’s Lockdrop: Infinex’s lockdrop could provide an opportunity for investors to earn Governance Points and mint Patron NFTs. It’s worth considering the potential returns from participating in this lockdrop.
