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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
June 16th Rollup
🐚 Research and Ideation 💡
- Amber Group: Yield-Bearing Stablecoins - The Convergence of TradFi and DeFi
- Messari: $HYPE vs Boomer Coins Over the Past 3 Months
- 100y_eth: DTCC Eyeing Stablecoin Issuance Could Bring Quadrillion On-Chain
- proofofnathan: Current Payment Stack vs Web3 Payment Stack
- Flashbots: MEV and the Limits of Scaling
- f_s_y_y: Big (Tron) Energy
🐚 News 📕
- Microstrategy Acquires Another 10,100 BTC at ~$104,080 Per BTC and Now Holds 592,100 BTC
- Al Jazeera Journalist Denies WSJ Report on Iran Ceasefire Signals
- JP MORGAN FILES ‘JPMD’ TRADEMARK HINTING AT STABLECOIN
🐚 Project Updates 🔔
- Aevo Lists Pumpfun $PUMP on Pre-Market
- Tron Plans to Go Pubic
- Pumpfun Suspended on X
- Polyhedra Co-Founder Tiancheng Xie Stated that the Team Plans More Buybacks
Presto Research: How To Lose $85MM - James Wynn’s $1.27B BTC Long
> A look at how James Wynn built a $1.27B BTC long on Hyperliquid with 40x leverage, peaking at $40M in unrealized gains before crashing from $90M to $5M - a 94% drawdown in just 8 days👇
Source: https://www.prestolabs.io/research/how-to-lose-85mm-james-wynns-1-27b-btc-long
Pye launches Docs V2 with User Guide, Protocol Design and Audit
> Pye is an on-chain, non-custodial bond marketplace for staked SOL.
> When you stake through Pye, you mint a time-locked bond that splits your deposit into two parts: PSOL (principal) and YSOL (yield).
> Stakers can choose between 1,400+ validators and find the best terms for their preferred lockup
https://docs.pye.fi/
Source: https://x.com/pyefinance/status/1934624760677409078?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Stablecoins and the Collapse of the Legacy Payment Model
> A world where payments exist onchain, natively utilizing stablecoins (a book transfer), is coming , and it’s not just going to connect the current payment model, it’s going to collapse it.
> This is why we will see the first trillion dollar fintech built on stablecoin rails, because the value chain no longer needs to bifurcate.👇
Source: https://x.com/hadickm/status/1934680037795705133?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Arthur Hayes New Article “Assume The Position”
A discussion on the stablecoin mania brewing in public stock markets
> He argues that the booming stablecoin sector is wildly overhyped, noting Tether’s unbeatable distribution moat and Circle’s overvalued IPO.
> He warns that the next wave of listings will be Circle copycats and will be even more overvalued on a Price/AUC ratio than Circle.
> However, he stated the distribution channels for new entrants are closed.
Source: https://cryptohayes.substack.com/p/assume-the-position
Polyhedra Co-Founder Tiancheng Xie Stated that the Team Plans More Buybacks
Stated they are currently assessing the situation and take steps to prevent future financial attacks
Source: https://x.com/Tiancheng_Xie/status/1934704989953511652
Big (Tron) Energy
Why Tron’s stablecoin transfers appear expensive ($7) and why no one pays those full fees:
> Most people transact through CEXs (who stake users' TRX and sponsor energy)
> Most people rent/buy energy through marketplaces
> Most people stake themselves and get free energy
Source: https://x.com/f_s_y_y/status/1905679765886959826
Flashbots: MEV and the Limits of Scaling
“Spectacularly wasteful onchain searching is starting to consume most of the capacity of most high throughput blockchains”.
> MEV has become the dominant limit to scaling blockchains. On Solana, MEV bots consume 40% of blockspace but only pay 7% of fees,. This is also visible across the Ethereum L2 ecosystem
> This article unpack this market failure, show data demonstrating its impact, and argue for a new MEV auction designed to solve it.👇
x.com/bertcmiller/status/1934657926272307332
Source: https://writings.flashbots.net/mev-and-the-limits-of-scaling
Al Jazeera Journalist Denies WSJ Report on Iran Ceasefire Signals
Asserts no messages were transmitted
Source: https://x.com/DeItaone/status/1934647885322211610
$HYPE vs Boomer Coins Over the Past 3 Months
Source: https://x.com/0xCryptoSam/status/1934609546351137067
Iran Signals It Wants to De-Escalate Hostilities With Israel and Negotiate: WSJ
Source: https://x.com/DeItaone/status/1934610994476552530
June 15th Rollup
🐚 Research and Ideation 💡
- 0x_Abdul: Thoughts on Bybit Going Onchain via Byreal
- ahboyash: CEXes Coming On-Chain: Coinbase, Binance & Bybit Compared
- chuk_xyz: Stripe Acquires Privy: Building the Onchain Banking Stack
- yeak_: Noice: Making Cents of InfoFi
- omarsar0: Summary of Anthropic’s Claude Multi-Agent Research System
- officer_cia: OpSec Tools & Tips for Personal and Digital Safety
🐚 News 📕
- Saudi Crown Prince MBS Says Israel is Trying to Drag U.S. Into War With Iran
🐚 Project Updates 🔔
- Byreal: A New Onchain Liquidity Network, Backed by Bybit and Powered by Solana
Pumpfun $PUMP Pre-Market Live on Aevo
Source: app.aevo.xyz/perpetual/pump
Saudi Crown Prince MBS Says Israel is Trying to Drag U.S. Into War With Iran
Source: https://x.com/BRICSinfo/status/1934139095158063369
Summary of Anthropic’s Claude Multi-Agent Research System
> Anthropic uses the “orchestrator-worker architecture”, where a lead Claude agent spawns and coordinates subagents to explore complex queries in parallel (a multi-agent system).
> This lifted Anthropic’s internal research task success rate by ~90 % over single-agent setups.
> The system scales reasoning capacity efficiently but costs ~15× more tokens and is reserved for high-value questions.
> It improved agent performance via tailored prompts and Claude-driven self-optimization, cutting task times by 40%.
> It uses LLM-as-judge, scoring with rubrics for factuality + human testing to catch failures👇
https://www.anthropic.com/engineering/built-multi-agent-research-system
Source: https://twitter.com/omarsar0/status/1933941545675206936
Knower: Unpacking Decentralized Training
A comprehensive report on decentralized training and why it’s a massive unlock for both AI and crypto.
Source: https://theknower.substack.com/p/unpacking-decentralized-training
Four Pillars: Inevitable Expansion of the Bitcoin Ecosystem
> Bitcoin's ecosystem is growing fast with Stacks' upgrade, BitVM, and Babylon's BTC staking, but issues like centralized bridges and ambiguous TVL calculation methods still remain.
> Soon, zkVMs are expected to overcome current limitations, and BTCFi integration from chains like Sui and Cardano will further grow the ecosystem👇
Source: https://4pillars.io/en/articles/inevitable-expansion-of-the-bitcoin-ecosystem
Crypto Doesn’t Need More Apps. It Desperately Needs Developers
> Crypto doesn’t need a new feed, not another swap UI, not a nft marketplace.
> It needs builders that actually builds meaningful things, onchain, that people actually wants.
> Killer apps only emerge from ecosystems that know how to nurture developers.
> The next era won’t be unlocked by another bull market. it’ll be unlocked by devs who write docs and not just code, obsess over usability, build opinionated stacks, and more👇
Source: https://twitter.com/suhailkakar/status/1934613020686369204?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Dexari: The Mobile Gateway to Hyperliquid
> Dexari is a bet on the continued growth of Perps + Hyperliquid + Mobile
> It is offering an all-in-one native iOS/Android crypto wallet app with a CEX-like perps and spot trading experience enabled by Hyperliquid.
> Dexari wraps both HyperCore and HyperEVM functions in a consumer-grade native mobile app
Source: https://twitter.com/lemniscap/status/1934612125374173367?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Senate Will Hold its Final Passage Vote on the GENIUS Stablecoin Bill Tomorrow at 4:30PM
> This marks the last vote before the legislation moves to the House.
Source: https://x.com/Cointelegraph/status/1934770675178221576
Pumpfun Suspended on X
Source: https://x.com/DegenerateNews/status/1934696408965165213
JPMorgan Files a Trademark for What Appears to be a Stablecoin Called ‘JPMD’
Source: https://x.com/tier10k/status/1934684065875284187
Current Payment Stack vs Web3 Payment Stack
Source: https://x.com/proofofnathan/status/1934601192195207279
DTCC Eyeing Stablecoin Issuance Could Bring Quadrillion On-Chain
> DTCC handles clearing, settlement, and custody for U.S. securities markets, and it is reportedly considering stablecoin issuance
> It processed $3 quadrillion in 2023 and $3.7 quadrillion in 2024. If DTCC issues a stablecoin and integrates it into settlement flows, the impact on blockchain adoption could be transformational👇
Source: https://x.com/100y_eth/status/1934534711327838678?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Iran Asks Qatar, Saudi Arabia and Oman to Press Trump for Israel Ceasefire - RTRS
> In return, Iran will offer flexibility in nuclear negotiations with the US, per Reuters.
Source: https://x.com/KobeissiLetter/status/1934619259419910505
Amber Group: Yield-Bearing Stablecoins - The Convergence of TradFi and DeFi
> Yield-bearing stablecoins represent a significant evolution in digital finance, combining the stability of traditional assets + efficiency of DeFi protocols
> It has grew 13x in under 2 years, offering native on-chain yield and redefining digital cash.
This report covers:
> Key growth drivers & models (RWA, derivatives)
> Risks, regulation & parallels with MMFs
> Innovation frontier — Plasma and Unitas Labs👇
Source: https://ambergroup.medium.com/yield-bearing-stablecoins-the-convergence-of-tradfi-and-defi-9f37d0cab327
Tron Plans to Go Pubic
Source: https://x.com/tier10k/status/1934590387609321507
Microstrategy Acquires Another 10,100 BTC at ~$104,080 Per BTC and Now Holds 592,100 BTC
Source: https://x.com/saylor/status/1934582626448236794
OpSec Tools & Tips for Personal and Digital Safety
> Turning Apple Watch Into a Personal Safety Trigger
> How to build a “deadman’s switch” for your wallet
> Opsec tips when using Airbnb
> Identifying if you are being spied on
> Security tips & devices for digital nomads
> DeFi, Blockchain and crypto-related OpSec, and more👇
Source: https://twitter.com/officer_cia/status/1798013562109222986?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Noice: Making Cents of InfoFi
> Noice is a Farcaster-native microtransactions app. It allows users to passively give and receive tips for every like, recast, quote, comment, or follow (Noice = Degen + Tipn + Amps + Timedotfun)
> Noice has completed over 870K tips worth ~$50K to over 24K unique recipients.
> Solana support, Monad support, and a potential X integration are upcoming growth catalysts.👇
Source: https://twitter.com/yeak__/status/1932871119951806556