3 Alpha Apps - The Bitcoin L2 I'm bullish on just launched + more pre-token apps
Edition 5
Welcome to the alpha please newsletter.
We’re back. You know the drill: each week, I bring you 3 early, interesting, high-upside apps/protocols.
All are pre-token, and all have points programs or real earning opportunities.
This newsletter is made possible by Bungee 🙏
How cool is this? You can now swap from any token on any EVM chain into stocks and ETFs on Solana.
Here’s an example of purchasing SPY using USDC on Ethereum.
We can now DCA into the ETF that tracks the S&P 500—all onchain.
Bungee continues to deliver on its vision: a platform where you can purchase any asset with any asset.
1. HyperSwap
Every new chain needs a leading DEX.
Ethereum has Uniswap.
Solana has Raydium.
Base has Aerodrome.
Now, on HyperEVM, HyperSwap is the top contender.
HyperSwap is the first native AMM DEX and liquidity hub on HyperEVM. It’s deeply integrated with top protocols, tokens, and liquidity providers in the ecosystem.
Since launch, the protocol has shown some great traction, and we can expect more to come as the HyperEVM ecosystem continues its growth trajectory.
HyperSwap is currently running a points program:
25,000,000 points total = 25% of total supply, fully unlocked on Day 1.
Beta (10M points) and Ecosystem (2.8M points) phases are done.
The final phase began June 1st, with 800,000 points distributed weekly for 2 months.
So, if you’re interested, you’ve got one month left to stack.
Here’s a simple strategy:
Use HyperSwap to swap and LP to earn yield + points.
Example: wrap your stHYPE, then LP on pairs like HYPE/stHYPE.
Prefer market-neutral? Use stables like feUSD from Felix with USDT0 or USDHL.
One last tip: to maximize your points, head to the “Explore” section and click on “Multiplier Pools” to see where you can get the biggest boost.
I think a lot of people will get tired of farming on HyperEVM, but in my view, there’s real edge in showing up and doing the work consistently. Time to keep going.
Here is a ref link for you.
2. Botanix
Botanix is a new Layer 2 built on Bitcoin via the Spiderchain, offering full EVM compatibility.
It’s designed to make Bitcoin usable for onchain apps. Botanix supports Solidity and EVM tooling, meaning you can take Ethereum smart contracts and run them directly on Bitcoin. It transforms BTC from a passive store of value into an active, programmable asset, while preserving the decentralization of Proof-of-Work.
The debate on Bitcoin L2s is still ongoing - was BTC meant for use or just storage? But the idea of making it more “alive” resonates.
Indeed, we are witnessing the first cycle where BTCFi is emerging as a promising narrative, with a wave of new projects building on top of Bitcoin. In retrospect, this narrative makes a lot of sense:
Bitcoin has the strongest story.
With BTC over $100K, it is a $2T asset.
BTC dominance has been trending upward non-stop since the beginning of this cycle and is currently around 63%.
BTC ETFs are live with over $44B in AUM.
A U.S. Bitcoin strategic reserve is most likely underway.
The market is clearly aligning around Bitcoin, and building on it makes more sense than ever.
Botanix is one of the most serious Bitcoin L2 attempts I’ve seen. Most are vapor. This is real infra, staying true to decentralization and self-custody.
Botanix mainnet went live yesterday (July 1st). This marks a big step forward for the protocol.
You can now:
Earn real yield: 50% of network gas fees go to stBTC holders
Use BTC in DeFi with apps like GMX and Dolomite for lending, trading, borrowing, and more
Still early. Still no token. That’s alpha.
I am personally going to bridge some BTC there, and I’m really excited about where they are heading. You can check out this very interesting thesis on Botanix from the founder here:
Now, another interesting thing to note is that, as part of the mainnet launch, Botanix is also introducing “Bitcoin 2100”.
This is an immersive game where you have the opportunity to collect free bitcoin, denominated in sats, by playing in a stylized world set in the year 2100, where Bitcoin has become the rails of a new financial system.
As part of this experience, Botanix will be airdropping $100k in BTC.
Here are some access codes to mint an NFT for the game:
Oq8bpmvb4B2U2rgNB+vu4hwRF7c=
qgNP0xsbW7r1a7N6/HnJlVHw3C8=
tE6emBqDcHBr3drxmwGUYLhTCC4=
LObvIKyMf6N3SA+6/0it36boB24=
/L/kh8fv1b1oOZon1iPAPxbJbIE=
Qm7cTrGtQRamfYIOPjryo98W6zw=
p2t4we8mMaq36o7i8eM30H62AjM=
+pCCC+IJZOQGn3PrYv8m8X7NMWo=
gJd9Mong5kzyVe+sfg3p1eHg4vU=
kUYAE+qP/JwA+V+OPUwenmQ6xVI=
Disclaimer: I am a proud angel investor in Botanix (so I’m biased), but this is a really solid team that’s been building quietly for over two years without getting caught in all the market noise. Plus, seeing big infra partners like Chainlink and Fireblocks supporting mainnet launch is another strong signal imo.
3. Backpack
Few teams in crypto have a backstory like Backpack.
Founded in 2022 by Armani Ferrante, they raised $20M led by FTX, just before FTX collapsed. That wiped out 88% of their funds.
But they kept building.
Their comeback move? Launching MadLads, a top NFT collection that quickly topped the charts and reignited Solana during its darkest hour.
According to Toly, the MadLads moment helped save Solana and spark its renaissance.
Today, Backpack has grown into a successful all-in-one crypto wallet and recently launched their exchange, offering spot and perps, on and off-ramp services.
Competition for perp market share is heating up. While I still see Hyperliquid as the clear leader (and frankly, there’s no close second right now), I have to say: Backpack is onto something. What I like about the project is that its story resonates with people, the team is top-notch and embodies the very definition of building through adversity. On top of that, their wallet is already highly successful, and the exchange has shown strong traction since launch.
Backpack is also constantly shipping. Just recently, they added scaled orders, TWAP orders, the ability to use SOL/BTC/ETH/SUI/USDT as collateral to trade, and more. Further, the team is also following a pro-regulation approach, which could be a real edge in the long run.
I have a deep respect for the team and I think they have a lot of potential ahead. They have a clear TAM and real revenue potential - something that is rare in crypto, but that matters more than ever.
Season 2 of their points program starts tomorrow. This also coincides with the launch of backpack in Europe. If you haven’t tried the exchange already, this could be a good time to do so.
Backpack is also pre-token, which makes the opportunity to accumulate points even more compelling. Plus, given the success of the Hyperliquid airdrop, I wouldn’t be surprised if they tries to go big as well.
Here is a low risk strategy you can do if you want to accumulate Backpack points:
Here’s my ref link to try it out.
And that’s your alpha.
Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Crypto currencies are very risky assets and you can lose all of your money. Do your own research.