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- 🤖 Will trading bots kill perps dexes?
🤖 Will trading bots kill perps dexes?
and will Aug 2nd be the end of the bear market?!
🗞 Market commentary.
Good morning trading bot experts,
Yes, the narrative in crypto is still heavily geared towards trading bots as they continue to gain traction and adoptions across the block. It’s a narrative that’s been around for some time with early pioneers keeping their tools secret in order to get a back door entry into the latest launches.
Now, with the likes of Maestro, Unibot and more recently YoloNolo we’re seeing innovation and adoption happening arming traders with a new set of weapons.
Yesterday Fed Chair J Powell raised rates another 25 basis points in line with market expectations bringing interest rates to a new 22-year all-time high. During the FOMC conference, he hinted at another potential hike in September.
Bitcoin wicked through liquidations zones before shrugging it off along with the broader markets. A positive sign to coincide with the House Financial Services Committee voting in favour of Blockchain Bills marking the first time a crypto bill has been passed on its own merits… take that, Gensler!
As for Worldcoin, according to Sam Altman, someone is getting their eyeball scanned every 8 seconds. Maybe the dream of it giving early ICP vibes would have come true during the parabolic mania of a bull run where you could sling doughnuts at candy canes and it turns to gold.
We’ll just leave this tweet here as it speaks a thousand words because if only they had combined forces in the name of decentralisation…
🤓 In today’s email.
Degen corner. Perps ‘n’ Bots, Discord ‘n’ Dexes
DeFi insights. 12 need-to-know insights
ICYMI. GM Degen Podcast, Bumper Finance and To Bot or Not to Bot?
Top Tweets. Jim Cramer just NUKED Microsoft
And finally. The bear market ends on August 2, 2023
🔥 Degen corner.
Perps ‘n’ Bots, Discord ‘n’ Dexes
For those blessed to lurk in the darkness of crypto trenches will know that snipers, frontrunners and copy-trading bots are not a new creation.
Trading on-chain and in the arena of microcaps, being first, being fast and being frisky are 3 qualities every trader needs. Snipers allow you to target contracts early, frontrunners get you ahead of your favourite influencers and copytraders mimic buys and sells of smart money.
Maestro took a degenerate idea, added some simple tech to it and essentially made it cool. The hype around UniBot and its only up token price caught the attention of Twitter. Combined, these two money printing tools have created a new meta, szn and tech that’ll evolve into the next bull run.
We will be armed and profit-hungry when that comes around.
But what happens to dexes?
What about perpetual futures (perps)?
The majority of us aren’t plugged into the sh*tcoin casino as it’s time-consuming and finding smart money wallets takes a lot of time.
If you’re reading this, chances are you’ve punted $10 on a 100x leverage trade and I assume you’ve heard of Bitcoin, Ethereum and unfortunately Cardano.
Perps print as hard as they break dreams and during times of high volume decentralised perps dex protocols print fees and revenue. But they can’t with a major disadvantage, they aren’t mobile friendly.
A new wave.
A new battle.
And a new movement of perp trading is coming.
And it’s one that might just give dexes a run for their money or at least spur on a mobile-optimised trading environment.
YoloNolo, powdered by the HXRO network, is a first mover in the discord perps trading bot category (and of course, a telegram functionality is in the works) with its latest iteration of its product launching over the coming days.
The Robinhood Effect
Robinhood (HOOD) made options trading easy. They made it sexy. And they made it fun with a little bit of help from Wall Street’s bets and meme stonks GME & AMC.
Mobile optimisation integrated into the most popular social trading apps, Discord & Telegram, might just spur on the Robinhood effect for perp bots.
This might just be speculation but what we might see is the battle of the perp dexes evolve into Perps ‘n’ Bots, Discord ‘n’ Dexes as each platform aims to capture fees, revenue and of course our liquidation zones. Adding in a social element is likely to be a recipe for success as we saw with Robinhood & Wall Street Bets.
If Maestro and Unibot can stand their ground against the perp dexes fee & revenue generation then going directly head to head with perps, such as YoloNolo is creating, could spark a completely new wave of trading that is scalable to the less tech-savvy among us (and of course the normies!)
With this in mind can YoloNolo, with its first move advantage, be one of the next bull run’s perps dex killers?
Trading bots, imo, is a narrative and utility that is here to stay and one that can give you an advantage over the rest of the market.
For a list of bots check out BarryBluee’s comprehensive Twitter list or StPaddyPirate’s in-depth Google sheet analysis of each product.
👀 DeFi insights.
The important bits.
Arbitrum - The legendary Odyssey quests return, first quest live on Tide - Read
Binance - Listing FDUSD a 1:1 USD-backed stablecoin issued by First Digital Labs, July 27th - Read
Bumper Finance - Begins codebase audit for an August launch - Read
Fuji Finance - Integrate with Aave - Read
Lybra Finance - V2 testnet is underway featuring a series of quests - Read
OPNX - Gameplan, a new sports metaverse venture is the second project to launch the OPNX launchpad from MMA GOAT Khabib Nurmagomedov - Read
Ribbon Finance - Proposal passed to merge with options protocol AEVO - Read
Savvy Defi - GMD integration goes live - Read
Unibot - Early access to Unibot X is open - Read
Y2K - Introduce repeg vaults - Read
Yearn Finance - LSD token launching soon, 3 days left to deposit & vote on launch composition - Read
YoloNolo - A comparison against Unibot - Read
📰 DeFi news.
Even more important bits.
EthStorage hits $100m valuation and aims to “achieve Petabytes of storage capacity with storage costs reduced by a factor of 1/1000” - Read
The Fed hikes rates another 25 basis points whilst Bitcoin barely flinches - Read
Italian Innovation. The Bank of Italy joined forces with Polygon Labs and custodian Fireblocks to work on the “Institutional DeFi for Security Token ecosystem” to help trad-fi dabble in DeFi and tokenized assets - Read
Ripple, voted as one of the best workplaces for millennials, according to Fortune Magazine - Read
Zucks remains committed to the Metaverse whilst continuing to invest heavily into AI - Read
🫠 ICYMI.
Life gets busy so here’s what you’ve missed.
GM degen podcast
Listen & Watch.
Grant & Alex are about over the hills and off of vacay next week but not before another episode of GM degen covering the latest happenings in the market.
Bumpered Crypto Assets: A New Dawn For Risk Management.
Research.
Over two years ago, Bumper set out to revolutionise risk management for cryptocurrency users and introduce an innovative DeFi hedging solution.
To Bot or Not to Bot? Will Trading Bots Kill Perp Dexes?
Thought Provoker.
It’s no secret that trading bots are all the rage at present. The convenient nature of trading directly from your favourite Telegram or Discord server is hard to match, especially when compared to connecting to a cumbersome DEX only to be hit with extravagant fees and often sub-par user interfaces and generally poor UX/UI.
🐥 Top tweets.
To save you doom scrolling.
Pythianism, the date is marked…
CJCJCJCJ_, comparing the most popular bots.
JimCramer, nukes Microsoft… as the saying goes INVERSE!
🦍 And finally…
If the bear market officially ends next week, August 2nd, it’s probably time to touch grass for one last weekend before the end-of-year seasonality kicks in again as traders return back from the Hamptons and resume desk-bound ape mode only.
Like we saw with AI, after a parabolic move come a correction and a correction that will favour the strongest. There isn’t space or liquidity for the underperformers and they’ll slowly fade. We’ll be searching and monitoring the strongest teams as we look toward the Ethereum Cancun update coming later this year.
🤝 A final word.
A quick word from our super awesome sponsors who help us make this all possible...
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