The Humble Farmer's Digest 12/27

Your weekly dose of Crypto, DeFi, and more...

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Dec 27, 2023

Hello Humble Farmers, thanks for reading!

This substack aims to share everything we’re paying attention to, including new launches, good farms, tokens, and much more. If any of that sounds interesting to you, please subscribe!

What We’re Watching

Picasso Network

For those who aren’t familiar with Picasso, they are an interoperability/restaking protocol powering IBC transfers across Polkadot, Kusama, Cosmos, and soon Ethereum and Solana. The PICA token powers Picasso’s Kusama para-chain as well as their Cosmos app-chain, and fits well into the current narrative around interopibility, Cosmos, and Solana. On top of this, Picasso is working on their very own restaking protocol for various SOL-based LSTs as well as Orca LP tokens.

Restaking is set to be a massive narrative as Eigenlayer approaches mainnet, and it’s very likely that Picasso will benefit as the “Eigenlayer of Solana”. There are some potential red flags to keep in mind though…

While it was over a year ago, the founder of Picasso/Composable (0xBrainJar), had an expose thread written about him by ZachXBT. Both of his projects have experienced large hacks in the past, and he has been sued by the SEC for fraud (this case was settled for $25,000). Brain Jar has since responded, and while Picasso is definitely an interesting project that will likely do well going forward, always DYOR.

Tonka Finance

Tonka Finance is a project that we’ve been closely monitoring, as they aim to be the leading lending and borrowing market for Ordinals, BRC-20s, and a wide range of ERC-20s. The Bitcoin inscriptions ecosystem is likely in its very early stages, and Tonka could be a solid bet on the growth of that sector as a whole.

Tonka’s will be running a Fair Launch-style token sale starting on 12/28, meaning that everyone who contributes will be purchasing at the same price. 50% of the supply will be up for grabs, and as always, DYOR.

Farms of the Week

Upcoming Projects

Pog Finance (Proof-of-███: growing the web's decentralized knowledge network)
Zeus Network (First Permissionless Communication Layer on Solana and Bitcoin)
Ethos (Bringing ETH Security to Cosmos)
Lumio (Move-based L2 on Ethereum)
DIMO (DIMO helps drivers get the most from their cars, download the app to connect, earn rewards, & help build the future of mobility.)
Snotra (The revolutionary platform merging NFTs, Gaming Assets, and DeFi)