Morpheus
While most yield and airdrop farmers on ETH mainnet have been heavily indexed on EigenLayer-related opportunities (to their recent detriment - see Will’s thread on the ezETH shenangians), there have been other pockets of opportunities for farmers on ETH L1.
Morpheus is the first of its kind in that it is a fair launch AI project with the bulk of Crypto<>AI projects being heavily-VC backed. Relying solely on token emissions and community collaboration, Morpheus aims to build a protocol to support Smart Agents; general purpose AIs that can execute Smart Contracts on behalf of users.
As a fair launch project, Morpheus is funding its protocol owned liquidity using the stETH yield of stETH depositors into the protocol. This farming program began on February 8th with the native token MOR emitted each day using the following distribution: 24% to the community, 24% to capital, 24% to compute, 24% to coders, and 4% for protection funds. stETH depositors will unlock their MOR emissions on May 8th which will likely be when the MOR TGE takes place via the POL LP pool launch.
The stETH deposit contract has been a hit with farmers with over ~121k stETH or $377m in the contract pre-farming MOR.
The yield these farmers are able to realise will ultimately depend on the valuation which MOR launches at, with a very low float at TGE we might see some crazy numbers if there is pent up demand to buy the first fair launch AI project!
Check out @Ren_gmi’s dashboard here: https://parsec.fi/layout/BT/poj5c0_v
-kezfourtwez
A quick note on NFT’s as kez is currently enduring a very painful infected wisdom tooth.
Ethereum NFT’s are seeing some action at the moment, it looks like we marked the schmico-pico bottom with this tweet.
Degods may have also had their part to play in putting the bottom in once again as they recently announced they are ONCE AGAIN bridging chains (I think this is the 4th time?). This time from Ethereum back to Solana.
Apes are 60% off the bottom in the last 11 days and back up to a floor of 17e.
There’s been a number of high profile sales of late. Three of the highest punk sales ever happened in the last two months, with the latest being today for $12m. A number of early and low edition XCOPY’s have also sold for between 50-400e in the last few weeks.
Overall Blend lending volume and general NFT volume are still flat and down, but most price charts are looking semi-decent and curling upwards as an (at least local) bottom looks to have been found. For the sake of 2021 bag holders and some of my own largely deceased jpegs I hope these big sales and curling charts are a leading indicator of what’s yet to come.
As always we appreciate your readership, if you enjoyed this article please leave a like and share it around. Have a good weekend and we’ll see you next week!
For your infected wisdom teeth take (2) probiotic 15-35 rating, pills a day and within a day the pain will subside, it works well for infected teeth....
Great Read!