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Gecko Ramblings 24-9-2022

by Dillon Yap

Disclaimer: The information presented is not financial advice from CoinGecko. The information shown here may carry risks of smart contract failure and impermanent loss. Always DYOR and only invest what you are willing to lose. Share your feedback on our Gecko Ramblings series!

 

What our analysts are rambling about 🔍


Making Money Overnight

Allowing users to receive daily interest payments, Overnight is a yield-generation platform where users can deposit their USDC to receive USD+, an interest bearing stablecoin. Overnight generates yield through various decentralized strategies including lending and stable-to-stable pools. Overnight currently supports Polygon, Optimis, Avalanche and BSC, with APY going as high as 17.5%.

 

DeFi on Nitro

Remember Redacted Cartel? It seems like Arbitrum has a similar protocol dubbed as Nitro Cartel in the making. Currently, information is sparse and kept intentionally vague to invite speculation and curiosity. Based on its latest Medium article, it aims to follow the footsteps of Redacted Cartel to empower on-chain DeFi liquidity, governance and cash flow, with a suite of products designed to accrue its own liquidity and other reserve assets.

Still in the early days for now but based on its Twitter following, it's amassed some interest within CT.

 

Up or Down?

Waterfall is a new, upcoming protocol described as "a prediction market-esque trading and pricing protocol for NFTs". The founder, @fiveoutofnine, claims that the team has developed a mechanism to provide discovery and instant price querying for listed NFTs, which are aimed at solving the issues of NFT pricing and illiquidity. Users will also be able to take part in a prediction market to predict the valuation of an NFT by a certain date.

More information to be released soon.

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Dillon Yap
Dillon Yap

Dillon is an Operations Associate at CoinGecko with a weakness for 3-digit APYs. As an ex-consultant, he now finds joy in laughing at consulting memes unironically.

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