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Decentralized Capital Markets Research & Articles: www.shoal.gg Twitter: https://twitter.com/Shoalresearch TG link: https://t.me/shoalresearch Website: Shoalresearch.xyz
Apps and Chains, Not Issuers: The Next Wave of Stablecoin Economics Belongs to DeFi
> The next wave of stablecoin economics won't be decided by who issues the tokens.
> It will be decided by who controls distribution, and who can coordinate fast enough to capture it.
> Hyperliquid is moving to capture $220M annually with USDH.
> Jupiter is doing the same with JupUSD.
> MegaETH is using stablecoin revenue to run their sequencer at cost.
> Sui partnered with Ethena to deploy ecosystem-aligned stablecoins before path dependency set in.
> Every chain leaking hundreds of millions to Circle and Tether now has a playbook to follow.👇
Source: https://x.com/simononchain/status/1982867134192423388
ETHZilla Announces $40 Million Share Buyback as ETHZ Trades at Significant Discount to NAV
> ETHZilla believes this share buyback is in the best interest of its shareholders because of recent, concentrated short selling believed to have kept the stock under pressure.
Source: https://x.com/ETHZilla_ETHZ/status/1982901255782445420
Blocmates: Crypto’s Privacy Powerhouses
> This piece explore what privacy in crypto means, its aspects, the products being built around it, what to look out for, and thoughts on the future of private crypto.👇
Source: https://x.com/blocmates/status/1982806714245398768
Jito Welcomes Drift as a New BAM Validator
Source: https://x.com/jito_sol/status/1982817080333185297
METAMASK REGISTERS DOMAIN FOR CLAIMING METAMASK TOKENS, SIGNALING AIRDROP MAY BE IMMINENT: METAMASK
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Castle Labs | Crypto, AI, Robotics: The Technological Trinity
> Exploring how Virtuals is merging AI, crypto, and robotics into a unified “Technological Trinity,” enabling autonomous agents & robots to transact, collaborate, and operate digitally and physically.
> This piece dives into the Virtuals stack and what makes them a great contender within these sectors
Source: https://x.com/castle_labs/status/1982813842020168136
October 26th Rollup
🐚Research & Ideation💡
- yashhsm: Narrative Crypto vs Usable Crypto
- dabit3: x402 Explained in 100 Seconds
- Toly: “The Claim That L2s Inherit Eth Security is Erroneous”
🐚News & Markets📰
- ZELLE PLANS TO ENABLE INTERNATIONAL PAYMENTS USING STABLECOINS
🐚 Project Updates 🔔
- Encifher’s Encrypt.trade Now Lets You Buy $ZEC Privately on Solana, Powered by Jupiter
- Padre Says Snapshot of All $PADRE Holders Was Taken On Oct 24th for $PUMP Distribution
Microstrategy Acquires Another 390 Bitcoin at ~$111,053 Per BTC and Now Holds 640,808 BTC
Source: https://x.com/saylor/status/1982779998609293775
Mt. Gox Delays Creditor Repayment Deadline to October 2026
> The Rehabilitation Trustee, with the permission of the court, has changed the deadline for the Repayments from Oct 31, 2025 to Oct 31, 2026
Source: https://www.mtgox.com/img/pdf/20251027_1cc36334-e8b2-4fe4-8135-97d9a149e4f7_announcement_en.pdf
Narrative Crypto vs Usable Crypto
> Narrative crypto: Driven by a good story/vision (your community is king)
> Usable crypto: driven by real utility (your product/users are king)
> This post explains how builders and traders can succeed by knowing which side they play best in👇
Source: https://x.com/yashhsm/status/1982636379650838745
x402 Explained in 100 Seconds
Source: https://x.com/dabit3/status/1982483131979735078
Solana Co-Founder Toly Says “The Claim That L2s Inherit Eth Security is Erroneous”
Source: https://x.com/aeyakovenko/status/1982536727475761552
Encifher’s Encrypt.trade Now Lets You Buy $ZEC Privately on Solana, Powered by Jupiter
> Encifher introduces encrypted SPL tokens like eZEC and a private trading architecture built on Jupiter to enable confidential swaps and DeFi actions on Solana.👇
👉 Try it out: https://app.encifher.io/
> How it works: https://x.com/encifherio/status/1982091257540198648?s=46
Source: https://x.com/encifherio/status/1981346692437016963?s=46
Trump Confident of US-China Trade Deal After Preliminary Consensus at ASEAN Summit
> U.S. Treasury Secretary Scott Bessent said he anticipated the agreement would defer China's expanded export controls on rare earth minerals and magnets and avoid a new 100% U.S. tariff on Chinese goods threatened by Trump.
Source: https://www.reuters.com/world/china/ustr-greer-says-trade-talks-with-china-moving-toward-agreement-leaders-review-2025-10-26/
Hype, Infra, Adoption: Will x402 Make it?
> x402, a protocol developed by Coinbase for AI agent payments, looks to have entered the hype phase, looking at the surge in x402 related tokens.
> Major companies such as Cloudflare, Google Cloud, and Anthropic are actively adopting it, i.e the infrastructure phase is progressing rapidly.
> This piece argues that x402 is rapidly advancing toward real adoption, however, the bottleneck lies in changing consumer psychology and trust structures as consumers do not trust AI agents.👇
Source: https://x.com/100y_eth/status/1982319145774629237
Unwrapping DeFi: The Evolution of Tokens, Pools, and Vaults
> Discussing the fundamentals of DeFi and the drivers behind the growth of stablecoins & vaults
Source: https://x.com/andrewhong5297/status/1982833872787185815
ETHEREUM DAT ETHZILLA SELLS $40M $ETH FOR STOCK BUYBACKS: PRN
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World Liberty’s USD1 Stablecoin Partners With Enso to Expand DeFi Presence Across Chains
> Live on Dolomite
Source: https://x.com/EnsoBuild/status/1982854749931413929
Citi Partners With Coinbase to Explore Stablecoin Payment Solutions for Institutional Clients
> “Stablecoins will be another enabler in the digital payment ecosystem and it’ll help grow the space, it’ll help grow functionality for our clients,” - Sen (head of payments for Services at Citi.)
Source: https://www.bloomberg.com/news/articles/2025-10-27/citi-taps-coinbase-to-explore-stablecoin-payments-for-clients-coin?embedded-checkout=true
Suhail Kakar: x402 ELI5
Source: https://x.com/SuhailKakar/status/1982787779772768261
Flying Tulip’s Multi-Year Roadmap is Now Live
> It outlines the evolution of its ecosystem👇
Source: https://x.com/flyingtulip_/status/1982794081844486479
MegaETH ICO Reaches Max Cap of 1B FDV After Few Minutes, Already Oversubscribed by 2.9X
Source: https://sale.megaeth.com/
MegaETH $MEGA Public Sale is Now Live
> Remains until Thurs, Oct 30th 1p UTC / 9a EST
👉 https://sale.megaeth.com/
Source: https://x.com/megaeth_labs/status/1982794486108311563
MT. GOX DELAYS CREDITOR REPAYMENT DEADLINE TO OCTOBER 2026: MTGOX
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Padre Announced Snapshot of All $PADRE Token Holders Was Taken On Friday Oct 24th at 13:59 UTC for $PUMP Token Distribution
> These holders can now claim $PUMP tokens based on the value of $PADRE they held at the snapshot. To check eligibility👇
Source: https://x.com/PadreApp/status/1982571060785545554
Major Public Companies Keep Evaluating Opportunities on Stablecoins
> Visa, Citi, Paypal… now Zelle
Source: https://x.com/a16zcrypto/status/1982490360548130873
ZELLE PLANS TO ENABLE INTERNATIONAL PAYMENTS USING STABLECOINS: WSJ
Читать полностью…
October 25th Rollup
🐚Research & Ideation💡
- Jarrod Watts: x402 Explained - Is It All Hype?
- YieldBasis: The Next Chapter of Scaling
- Thiccyth0t: Life Lessons from Trading
- 100y_eth: Hype, Infra, Adoption: Will x402 Make it?
- LH_exe: Arch - The Execution Layer Bitcoin Deserves
- Vitalik: Trusting Validators Beyond Block Validation Breaks Blockchain Security
🐚 Project Updates 🔔
- MEGAETH TO HOLD PUBLIC TOKEN SALE OCT 27–30 VIA ENGLISH AUCTION
- USDT0 Partners with Aori to Power Fast, Frictionless Cross-Chain Stablecoin Transfers
China’s Vice Minister of Commerce Says the US and China Have Reached a Consensus On Key Trade Issues After “Candid & Constructive” Talks
Both sides to begin “internal approval procedures”
Source: https://x.com/KobeissiLetter/status/1982407136379277427
Vitalik Warns: Trusting Validators Beyond Block Validation Breaks Blockchain Security
> He explained blockchains remain secure even under a 51% attack, as invalid blocks can’t be made valid.
> However, if validators are trusted for off-chain tasks, that security guarantee no longer holds.
Source: https://x.com/VitalikButerin/status/1982274694708691212