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The DeFi Den Weekly Ride #005

ARKM drop, Celo ETH L2, Aave GHO goes live

GM! Today we will be covering ARKM airdrop and listing on Binance. Besides that, Celo's ETH L2 proposal and Aave GHO activates on ETH mainnet.


Arkham announces airdrop and Binance listing


Introduction to Arkham Intelligence
Arkham Intelligence is a platform that enhances blockchain transparency by employing a proprietary AI-powered software named Ultra to analyze and deanonymize blockchain transactions, offering insights into the entities behind crypto market activities. It's a game-changer for individuals and institutions seeking an in-depth understanding of crypto market dynamics.

Arkham Intelligence Platform
The Arkham platform pivots on three key components: Collection, Aggregation, and Attribution. It collects relevant on-chain and off-chain data, amalgamates it into a reliable single-source, and uses this data to assign real-world identities to blockchain addresses. The platform offers features such as the Profiler, Visualizer, Alerts, and a customizable Dashboard to provide a comprehensive view of entities' activities and their relationships.

Arkham Intel Exchange: Buy & Sell User Data
The latest addition to Arkham Intelligence's offerings is the Arkham Intel Exchange, a pioneering on-chain intelligence marketplace. This platform connects those seeking to buy and sell intelligence on crypto wallet addresses, fostering a market for this intelligence and allowing those who generate it to capture value. The Intel Exchange utilizes a bounty mechanism to connect buyers and sellers, thus facilitating the exchange of on-chain intelligence.

ARKM Token: Powering the Arkham Ecosystem
ARKM powers the Arkham Intelligence platform and the Arkham Intel Exchange and forms the core of a robust incentive system driving platform adoption and growth. This includes ARKM Rewards for beneficial actions and ARKM Discounts for using and holding the ARKM token.

Users will be able to convert their points for $ARKM on the Arkham Invite Dashboard on 18th July (Today).

ARKM Binance Launchpad:

What does this mean?
Refer your friends and interact with the platform to earn points that are convertible to $ARKM later today. I don't think the airdrop will be huge since they only raised $10M but it is worth punting given that they are launching on Binance. Good luck! If you need a referral code to enter the platform, let us know!

Celo's Return to Ethereum L2

Celo offers to migrate to a Layer2 Ethereum

The Celo blockchain is considering a significant transition that would see it go from being an independent EVM-compatible Layer 1 blockchain to becoming an Ethereum Layer 2. This move has been under consideration following extensive research by cLabs and initial discussions within the core communities of Celo and Ethereum.

What are the key changes?

  • Leverage the OP Stack to transition to Ethereum L2.

  • Decentralized sequencer run by Celo's existing validator set

  • Off-chain data availability layer powered by EigenLayer and EigenDA, and a design retaining Celo’s 1-block finality. It also introduces danksharding design, enabling Celo to maintain its low fees.

This technical upgrade aims to accelerate the Celo ecosystem's mission of creating conditions of prosperity for all, without impacting it. By aligning more closely with Ethereum and enhancing EVM compatibility, the change can foster a seamless developer experience, offer stronger security than Celo does individually, and provide a trustless bridge to Ethereum, simplifying liquidity sharing. The move will not affect existing dApps, mobile-first features, or the growing regenerative finance stack, and the Celo validator community would continue to play a vital role in operating the network.

Check out the proposal in the forum here:

What does this mean?
The Celo community will most likely approve this and moving forward, they would attract more projects to build on it and liquidity due to the ease of bridging as an ETH L2. CELO tokens can be an interesting play from here. OP and Eigenlayer as well.

Aave Launches GHO Stablecoin on Mainnet

GHO Key Features
Anyone can mint GHO using the assets they supply as collateral into the Aave Protocol V3 Ethereum market. This ensures GHO is overcollateralized by multiple assets. Additionally, the collateral deposited continues to generate yield, thereby reducing the borrowing cost of GHO for users.

Multi-Collateral Support
GHO can be minted against all assets available as collateral on the Aave V3 market on Ethereum. This flexibility ensures that GHO is a multi-collateral stablecoin, enabling users to mint GHO with any mix of assets they supply to the protocol.

Benefits to the Aave DAO Treasury
Since GHO is native to the Aave Protocol, the interest paid on GHO borrows is directed towards the Aave DAO Treasury. Further, users who stake AAVE in the Aave Safety Module, serving as a backstop for the protocol, are eligible to mint GHO at a discounted rate.

Article Link:

What does this mean?
Yet another major DeFi protocol has their own stablecoins now. We believe this trend shall persist as each of them wants full vertical integration of the DeFi stack and owning your own stablecoins allows for interest accrual to their treasury. Besides that, we can expect projects to start integrating GHO, will be interesting to see the new use cases that come out from this.

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