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8 Degen Opportunities in August

Investment plays that are a little riskier than usual.
Bankless Bankless Aug 24, 20232 min read
8 Degen Opportunities in August

Dear Bankless Nation,

As we did last month, we're opening our DMs and sharing the degen opportunities that the Bankless analyst team is watching. These could pay off big or could be a regret-in-the-making. Ape responsibly!

Below, we're again surfacing 8 new degen-only investment plays that we're eyeing – available in full exclusively to our paying subscribers. Become one today!

- Bankless team

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8 August Degen Opps

Bankless Writer: Jack Inabinet & William Peaster | disclosures

Often, the best plays in crypto appear a little degenerate.

Just like we did last month, we’re covering eight opportunities designed to intrigue your inner degen! Each project listed below has its own opportunities – but all are likely to send risk-averse investors and users running for the hills…

Most of this month's degen action has been tied to, and we've got a few related plays you might want to check out.

Take note: this guide is for DEGENS ONLY 🦍

⚫ Aevo

Website | Twitter
Opportunity Type: Use the Protocol
Activity: Long or Short the FRIEND Index

What is it?
Aevo is a new decentralized derivatives exchange that specializes in options and perps trading. Built on its own bespoke optimistic-style Aevo Rollup and secured by Ethereum, the Aevo protocol represents the next wave of “appchain” DeFi apps. The exchange combines an offchain orderbook system with onchain settlements, allowing for the efficient matching of orders while ensuring that trades are executed and settled securely through smart contracts. The idea? Offer traders the best of both worlds: the speed and flexibility of offchain operations, coupled with the transparency and security of onchain execution.

Why it’s a degen play:
Aevo just listed FRIEND-PERP, which allows you to long or short FRIEND, an index that tracks the current market cap of social tokens on It remains to be seen whether will continue to boom in popularity for the foreseeable future, or if it’s going to pan out as a fad, but it’s got huge attention right now and it could swing either way, so the surf’s certainly tradable here and perps offer a way to leverage up on the action in either direction. Derivatives and new L2s aren’t for the faint of heart though, so approach cautiously if you want to try this!


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Action steps

⏰ You still have time! Get your tickets to Permissionless! 💜

Written by Bankless

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