The Humble Farmer's Digest 8/29
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What We’re Watching
Berachain Ecosystem
In last week’s newsletter, you may remember that we discussed Berachain and the value proposition of the Bera NFTs. Outside of that, there are some other players in the Berachain ecosystem that also have investment vehicles prior to Mainnet.
We’ll quickly list them here as well as a brief description of each.
1. The Honey Jar
The Honey Jar is a self-proclaimed “call option on the Berachain ecosystem”. They currently have a long list of Berachain-related partners with various perks that are distributed to their NFT holders. There are currently a few different NFT collections, but only the Honey Comb collection is eligible for Berachain ecosystem rewards.
2. Beradrome
Beradrome will be the premier ve(3,3) exchange on Berachain which already has numerous ecosystem partners prior to launch. If you want exposure to their token early, you can purchase their Tour de Bearance NFTs where holders will likely be airdropped tokens on TGE.
3. Hiberanation
Hibernation is a yield-optimizer/auto-compounder, similar to the likes of Beefy Finance. By automating the compounding process, farmers can farm in peace while knowing they're getting the maximum yield on their tokens. While their exact utility is unknown, it’s highly speculated that their NFT collection, Dream Masks, will have some purpose within the protocol.
4. Beradoge
This last one is especially risky, as it aims to be the leading meme coin on Berachain. They’ve built up a strong community within the Berachain ecosystem and could perform well once the chain launches. We don’t have the specifics, but it seems very likely that Beradoge NFT holders will receive a substantial portion of the token supply.
You may notice that many of these Berachain projects have been quiet over the past few weeks/months, but that’s for good reason. The goal of Berachain is to under-promise and over-deliver, and that is what these teams are doing as they build in the background. While there are dozens of other projects coming to Berachain, most are either uninvestable or have not announced their launch yet.
In general, your best bet is most likely the core Berachain NFT collections, but it doesn’t hurt to diversify your exposure across the ecosystem.
Aerodrome
People have been waiting on Aerodrome for weeks now, and it looks like it is finally time for them to launch. Base has been the most successful out of the recent wave of new L1s/L2s, with close to $190M in TVL in roughly a month.
Aerodrome is set to be the premier DEX on Base, and should be a clear winner if they can manage to recreate the success they had with Velodrome. Up until now, it’s been difficult to find a straightforward bet on the growth of Base, but this could be a decent pick. There are a couple of ways to play this…
You could simply buy & hold/lock the AERO token once liquidity is live, but the better play may be to snipe veAERO NFTs for cheap when the airdrop farmers go to dump their rewards.
If you aren’t interested in the AERO token, the farms should be extremely lucrative, at least for the first couple of days/weeks. It is probably worth bridging some funds over to provide liquidity in some of the better-performing pairs.
Some people have also been accumulating tokens that’ll have large amounts of veAERO to bribe their pools with. This is a pretty similar approach to the Solidly playbook back in 2021, although we’re not sure if it’ll end up the same way.
What’s our opinion?
Well, Aerodrome seems to be the best bet on Base’s growth at the moment, and we love high yields. The most lucrative strategy will probably be to do some combination of these three, but we won’t know until Aerodrome actually launches.
Farms of the Week
Upcoming Projects
Dinari (Trade Equities On-Chain with Security Backed Tokens)
Yo (Social Platform Backed by Coinbase)
Elusiv (Private Token Swaps on Solana with Web3’s Universal Encryption Layer)
Shuffle (On-Chain Crypto Betting, Token Coming Soon)
RiscZero (Fully Open Source Type 0 zkEVM)
Ender Protocol (Liquid Staking Power (LSP) & Metaverse Protocol)
Based Markets (Intent-Based P2P Derivatives on Base)
Phoenix (A Fully On-Chain CLOB DEX on Solana)
Astrid (Liquid Restaking Protocol on Ethereum Powered by Eigenlayer)
Good Reads
The DeFi App Phase:
Do On-Chain Games Make Sense?
More on On-Chain Gaming:
Solana Ecosystem Overview:
Kite or Board:
The Yield Farmer’s Almanac:
Project Updates
Balancer Vulnerability:
Aerodrome Launch:
PancakeSwap V3 on Linea:
1inch on Base:
Grass Network’s Role:
Radpie IDO Priority Access:
Optimism x Base Commitment:
Speed Markets on Arbitrum:
Radiant Coming Mainnet:
Altitude LBP:
Beam Instant Payouts:
Cypher IDO Soon:
Pendle RWA Expansion:
Jito Referral Program:
FT Liquidity Incentivation:
Kamino Creator Vaults:
FriendTech Photos:
Dymension Incentivized Testnet:
Farcaster OP Mainnet:
GMBL Presale on Camelot:
Stader Liquid Restaking:
Receipt Sentience ETH:
Gumball V2:
IVX Portfolio Margin:
Mozaic LBP:
PSY Protocol Sunsets:
Balancer Exploit:
Chainlink Staking v0.2
Conclusion
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