August Outlook: Basechain, SHIB Layer2, GNS and Frax New Moves

Author: Yuzhong Kuangshui, Deep Tide TechFlow

August outlook is here.

A lot will happen in August, but to keep it concise, I will only discuss the events and analyses that I rate as S in my mind, along with the corresponding opportunities.

This content will mention:

• Basechain

• SHIB Layer2

• GNS

• Frax v3, RWA, frxETH v2

• SEI & CYBER, LTC, GMX, EVMOS, SSV, SPARTA, LOOT, APE

Basechain

The launch of Basechain was unexpected. However, due to the conclusion I reached from the previous Pauly incident— the risks of meme coins are becoming increasingly significant— I did not actively participate in meme coins on Basechain, although I envied the wealthy meme coin players. In the end, I did not get involved.

My expectations for Basechain are still $OP and $VELO, and I have bought some and made a few trades. I conducted a detailed analysis before making related trades, and after the $VELO trading ends, I will do a detailed review.

Additionally, it is worth paying attention to whether there are any opportunities in the early Basechain ecosystem, but so far, no sufficiently good protocols have emerged; we will have to wait and see.

SHIB

The opportunity for Shib is concentrated on the launch of Layer2 (the summit will be announced soon, and developers have mentioned that it will be launched shortly). The reaction is certainly late now, as $BONE has already risen significantly, but $LEASH seems to still have potential space; its price is about the same as my initial buying price. Currently, there is not much to deeply explore with SHIB Layer2. As the Layer2 War has progressed, Shib Layer2 does not possess a clear competitive edge. Often, it is time to retreat before the good news lands.

GNS

I am closely monitoring the upgrade of $GNS empowering the native token. Previously, the GNS team would receive 16% of the protocol revenue, but now, to promote the growth of $GNS, an additional 1 million $GNS will be minted (supply +3.3%) and given to the team. Within a year, the team can only stake $GNS (the team previously held 1.27M $GNS). Additionally, to adjust and compensate for the income from GNS NFT BOT, the team will also issue an additional 3.36M $GNS (supply +11%) to incentivize them (6-month linear vesting, immediate redemption incurs a 25% fee). The rewards for $GNS stakers will also be adjusted from 33% to 61%. This will happen in September. I will continue to track this matter and analyze it from a data perspective (there will be a new article).

https://medium.com/gains-network/gns-tokenomics-plan-q3-2023-260c64ddd560#96bb

Frax Finance

Previously, the founder of Frax mentioned that Frax v3 would be launched within 30 days, meaning the product will be launched in August. However, I think v3 may not be able to solve the current revenue issues of Frax. It will depend on the performance of the v3 product after its launch. If the data performance is mediocre, $FXS may still follow a path of good news landing. In the future, Frax will also implement frxETH v2 and Fraxchain products, but the most important thing is to see if the market will respond positively. Following trends and capturing narratives is what the Frax team excels at, and the upcoming RWA strategy that Frax is about to announce is also a key focus for me.

https://twitter.com/OuroborosCap8/status/1684890389906698241

BN Launchpool------SEI & CYBER

LTC------The halving event will occur on August 4.

GMX------v2 may be launched in August.

EVMOS------2.0 will go live on August 2, changing the tokenomics; we will need to wait for further detailed explanations from the official sources.

SSV------The mainnet launch time may be revealed today.

SpartaDEX------$SPARTA will be launched on August 3; friends who have seen my alpha call should know this. To aim for airdrops, I bought NFTs, which also yielded profits (50%-100%); selling early was also a good trade. However, I chose to aim for the airdrop, which may yield more.

Lootbot------A dedicated TG BOT for airdrop hunting is about to launch a paid version and features like $LOOT income dividends.

10KTF------There may be a new NFT collection released in August, and I will closely monitor this matter. The reason for not releasing NFTs as expected previously, I suspect, may be related to the high opening and low closing of the new Azuki collection. The release of NFTs may consume some $APE, and in light of Yuga's latest actions, I will keep $APE on my watchlist.

Finally, regular viewers will know that I have been adjusting the style of the "Monthly Outlook" series; I am also making adjustments in this piece, hoping to present content with higher density and substance. In this piece, I have basically provided a rough description of events and simple analyses, and I will conduct detailed analyses of related events in subsequent content (new articles)— this is a more efficient approach.