💰 Raise the Stakes: Polymarket to Set Afloat New Token

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Polymarket is looking to amass $50 million in funding and parallelly launch a native token. Investors who inject funds into the funding round would receive “warrants” that would make them eligible to buy the tokens if Polymarket finalizes and decides to roll out its token.

The token’s use case? It’d act as a medium for users to validate the outcome of IRL events. 

Unless you’ve been living under a rock, you’d know that Polymarket uses the UMA Protocol to resolve markets and settle disputes via community voting. There are three possibilities: The new token could either act as a supplement, alternative, or replacement. 

Assumptions w.r.t. the snapshot, and airdrop volume calculations have already started floating around. Since there’s no official confirmation yet, we’ll have to wait and watch. 

As far as funding is concerned, the betting platform has already raised an aggregate of $70 million over two rounds. 

Polymarket ended up breathing life back into the predictions market with its tailor-made PMF earlier this year. Given that they’re gonna launch a token, expect all Polymarket metrics to blow a fuse because farmers usually wait for airdrop confirmations like this to start boosting their activity to get a bigger chunk of the pie.

Plus, the election season is also approaching. The timing couldn’t have been better.  

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STX/USDT Bybit 3D Log Chart

I’m not a spot holder or fundamentals guy here, I just love the $STX chart. Inverse head and shoulders, EMA compression that mirrors the start of the last runup. Awesome Oscillator flipping bull. RSI above 55. There’s a lot to like. The price has already moved a few percent today, but this is the 3D chart, so trade the time frame accordingly if you’re going to get involved. $2.50, $3 and all-time high are the levels to watch. I have a small bag and am looking to buy low timeframe pullbacks to the 4-hour chart 50 EMA - maybe we get one around the $1.80 area.

NFA as usual, please do your own research always.

Come by the Lucky Luke Discord channel for comments, to roast my picks or to pump your own bags. All banter is welcome any time!

Bella Protocol has launched a signal bot to provide AI-based trading signals. It analyzes market data and provides long and short signals for perp token pairs. Stop loss mechanisms are built in already, plus you can easily integrate it on Telegram too. 

The bot is powered by 5 different AI models that help you tamper with trading frequencies, directional momentum, risk tolerance, and exposure settings. 

Bella is just step one. After this, the team is looking to put to sea an LLM Research Bot next month to provide traders with more in-depth market insights, boosting the analysis precision.

The important bits.

• GamaSwap’s liquidity mining program kickstarts today on Arbitrum

• Peapods Finance is gearing up for ‘Leveraged Volatility Farming’ upgrade

• DeFi abstraction layer INFINIT’s early access is now live 

• Play Solana Gen 1 pre-orders open 

• tBTC launches on Aave

Even more important bits.

• Paradigm & a16z Crypto have deployed an aggregate of $1 billion into the industry so far this year

• Celestia Foundation announces $100 million in funding 

• Dutch crypto broker Coin Meester BV gets acquired by Kraken 

• SBF’s doctors say his ADHD and autism resulted in him being misunderstood during the trial

• Hacker siphons ~$250k from DeFi protocol Bankroll

Life gets busy so here’s what you’ve missed.

Bitcoin Ordinals Co-Founder EXCLUSIVE Interview

Podcast/Research/Thought Provoker

Jedi hosts Erin to chat about Ordinals and the NFT space. Together, they also delve into her project — ephemera bot — that inscribes astronomical data onto Bitcoin, creating a decentralized timekeeping system! 

Tune in on Spotify | YouTube 

To save you doom scrolling.

To the moooooon?!

China has announced multiple rate cuts and has lowered banks’ reserve ratio requirements. Capital is gonna become cheap. Folks are gonna divert funds towards assets, the market will get flooded with liquidity. You do know what happens next, right?  

strap up and sit tight homies,

Hix0n 🫡