YGG Surges Following Release of Q2 2023 Report and Ambitious GAP Season 4; Arbitrum's Leading DEX GMX Launches V2 Beta

Daily Top Performer — Yield Guild Games (YGG)

The SPX index is down 0.53%, key market events for the upcoming week include Earnings Reports, a 10-year bond auction, CPI, PPI, and UoM Consumer Sentiment. The broader cryptocurrency market is up, with Bitcoin and Ether rising 0.35% and 0.73% respectively, in the past 24 hours. 

Today's outperformer is YGG, which surged 27.52% in the past 24 hours after the release of the Q2 2023 Report and announcing Guild Advancement Program (GAP) Season 4.

Founded in 2020, Yield Guild Games (YGG), a DAO gaming guild, specializes in investing in NFTs for blockchain games. Their goal is to establish the biggest virtual economy, and they share profits from community-owned assets with members. They've integrated with games like Axie Infinity and The Sandbox. In Q2 2023, YGG highlighted major progress, such as the successful end of their Guild Advancement Program's third season, an MOU with Web3 Games Collective, and significant growth in their partnerships and assets. YGG plans to sustain this growth into late 2023 and also announced the start of GAP's Season 4, their most ambitious season, from 3 Aug to 27 Sep, 2023. It will feature 150 quests, two new games, and innovations like group questing and Meta Quests. Additionally, YGG will be converting historical player records into experience points as part of a new leveling system. 

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Talk of the Town

GMX has launched the V2 Beta of its decentralized exchange platform, introducing several new features and improvements. For traders, V2 includes new assets for trading, the ability to use multiple collateral types for positions, faster execution speed, lower slippage, and reduced swap fees between crypto assets. Liquidity providers will benefit from isolated pools, allowing customization of exposure, and increased incentives for balancing long and short positions as well as swap incentives. The beta release continues to use a similar Oracle system to GMX V1, with plans to upgrade to Chainlink's low-latency oracles in the future. The new features aim to enhance trading execution and provide flexibility for liquidity providers, though initial liquidity for V2 markets may be low.