Original | Odaily Planet Daily ( @OdailyChina )
Author｜Nan Zhi ( @Assassin_Malvo )
At 18:00 and 20:00 tonight, Binance announced two phases of Binance Alpha tokens in succession. The first phase of tokens are well-known and most of them are memes, so this article will focus on the second phase of tokens and take a quick look at its token data and the business of the project behind it.
Cakepie
Token Status
The historical highest market value is approximately US$130 million, the highest market value today is approximately US$120 million, and the current market value is US$96 million.
Business Introduction
Magpie has established multiple SubDAOs for various LSTs and LRTs (such as EigenLayer on Ethereum) to release token liquidity. Cakepie is a SubDAO created by Magpie for PancakeSwaps veCAKE. Its goal is also to enable users to enjoy the benefits of veCAKE without long-term staking and to leave the market at any time.
CKP is Cakepies governance token, which can be locked into vlCKP to obtain voting rights and earn real income opportunities. According to official data , as of early December, Cakepie has accumulated more than 13 million veCAKE. After the voting market was launched in early January 2024, vlCKP holders received more than $6.5 million in voting rewards.
Gearbox Protocol
Token Status
The historical highest market value is approximately US$340 million, the highest market value today is approximately US$110 million, and the current market value is US$106 million.
Business Introduction
Gearbox Protocol is a lending protocol with unlimited liquidity providers (lenders), and borrowers include traders, mining users and even other protocols.
Its core parts are the credit account and credit manager. The credit account is like an isolated smart contract that holds user and borrowed funds, has liquidation thresholds and a list of allowed tokens and protocols to avoid malicious attacks.
In addition, it has a modular architecture, the core layer supports operations of both parties to the agreement , can connect customized funding pools and credit account managers, and can serve different user groups, including mining, trading, NFT protocols, and RWA leverage operations .
Stader
Token Status
The historical highest market value is approximately US$77 million, the highest market value today is approximately US$67 million, and the current market value is US$66.8 million.
Business Introduction
Stader is an LSD protocol similar to Cakepie that aims to solve the liquidity problem of native ETH staking.
Syrup
Token Status
The historical highest market value is approximately US$132 million, the highest market value today is approximately US$117 million, and the current market value is US$114 million.
Business Introduction
SYRUP was formerly known as Maples MPL token. Maple Finance is a comprehensive lending platform founded in 2019. Due to problems with its partners, it was once in financial difficulties. Later, Maple Finance gradually turned to a mortgage lending model based on real assets (RWA). The platform launched a new cash management pool, allowing non-US qualified investors and entities to invest in US Treasuries through USDC. According to RWA.xyz data, Maple Finance ranks second in the RWA private credit sector. The private credit sector accounts for more than 50% of the total market value of RWA.
In August 24, MPL split 1:100 to obtain SYRUP, which will be used for the lending protocol Syrup.fi launched by Maple . Part of the agreement revenue between Maple and Syrup.fi will be used to repurchase SYRUP.
In terms of lending protocols, Syrup.fi is special in that its borrowers include institutions and other special OTC borrowers , who are required to undergo special KYC and asset reviews, while ensuring security while providing lenders with higher-than-market yields.
(Note: For more information, please see Institutions predict that RWA will continue to explode in 2025, and take stock of four projects suitable for ambush
Fartcoin
Token Status
The historical highest market value is approximately US$920 million, and the current market value is US$870 million.
Business Introduction
A meme coin for the solana chain.
(Note: Fartcoin is actually a token mentioned in the Truth Terminal document. It has no business or project itself and is a pure Meme. Please refer to Spelling Errors Raise Questions, What Is the AI Meme Game? and Inventory of the Hottest Meme Concepts: AI, Artists, Zoos and Minecraft and other articles.)
