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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
Lin Oshitani | Ethresearch: Based Preconfirmations with Multi-round MEV-Boost
“Based rollups are great, but something is lost when we add preconfirmations”
> This post explores a based preconfirmation design that piggybacks the L1 PBS pipeline, avoiding many of the negative externalities of preconfs as a result.
> Then, propose multi-round MEV-Boost, a modification of MEV-Boost that enables based preconfirmations by running multiple rounds of MEV-Boost auctions within a single slot.
Source: https://ethresear.ch/t/based-preconfirmations-with-multi-round-mev-boost/20091
ZachXBT: Interesting Observations About the $230M+ WazirX Hack
“All I can say is the WazirX hack has the potential markings of a Lazarus Group attack (yet again)”
> Zack already identified a KYC exchange deposit made by the WazirX hacker, solving Arkham bounty
> Check out Zach’s breakdown and analysis as he traced the hack.👇
Source: https://x.com/zachxbt/status/1813896375597490177
July 17th~ Rollup
🐚 Research and Ideation 💡
- 0xNairolf: Multi-Layer Chain Abstraction Stack Explained
- Ansem’s Schizocast: “Core 5 Coins I Want to Own Going Into Q4”
- TABASCOweb3: Best Chain Abstraction Resources, H1 2024
- Vitalik: Against Choosing Your Political Allegiances Based On who is “Pro-Crypto"
- Bitwise: Spot ETH ETFS Launch Next Week Will Drive Price Above $5,000
- DeFi^2: The Worldcoin Cash Grab Part 2: Price Control, Misdirection, and Unexpected Victims
- ZachXBT: Shame On All of the VCs and Team Members Complicit In the Worldcoin Scam
- 0xshakib: Dive Into the Layer 3 Enhancing UX
- Four Pillars: Ethereum ETF Approval and Ethena - A Potential Opportunity
- Syndicate: The Economics of L3s
- Zama: Build an End-to-End Encrypted 23andMe-like Genetic Testing Application using Concrete ML
- Archetype: In Conversation With: Mike Pollard
- Suhail Kakar: ENS (Ethereum Name Service) ELI5
🐚 News 📕
- Grayscale Launches New Decentralized AI Fund
🐚 Project Updates 🔔
- 0x v2: 0x's Next-Gen Pricing Engine
- BONKbot Hits $7bn Lifetime Volume, Sends Back ~$60m to Users & BONK Ecosystem
- Coinbase Will Add Support for Ancient8 $A8 On the Ethereum Network
- Trojan Hits 5 BILLION in Lifetime Volume
- Primev Releases Mev-Commit
Archetype: In Conversation With: Mike Pollard
Pollard - CEO and Co-founder of Nina Protocol
> Nina Protocol is a platform & toolkit designed to give artists total freedom & ownership of their work
> Pollard was asked series of questions ranging from his experience starting and running a music label, music journalism and media, tapping into the music community in New York, and more.
Source: https://archetype.mirror.xyz/iN3P1H_waw-D4EA7lT3m76A9EpWcg3F9MqHk-dU_tfE
Syndicate: The Economics of L3s
L3s promise 10,000x lower fees, but face major economic hurdles.
> This analysis reveals the challenges for L3s to reach profitability, current L3 use cases, and the future pathways to valuable L3 networks.
Blog: https://syndicate.io/blog/l3-economics
Source: https://x.com/syndicateio/status/1813573096248602978
Primev Releases Mev-Commit
“A novel network to influence transaction execution on blockchains with greater resolution”
Tested on the Holesky testnet, mainnet soon
> Enhancing PBS Capabilities
> Supports execution Preconfirmations
> New Privacy Primitives, and more
Source: https://x.com/primev_xyz/status/1813264680724668905
0xshakib: Dive Into the Layer 3 Enhancing UX
L3s in blockchain are built on top of Layer 2s (L2s), offering isolated state environments & fee markets
> This post discuss L3s and why we need L3s/ L3 Landscape at the end
Source: https://x.com/0xshakib_eth/status/1813621309005344840
DeFi^2: The Worldcoin Cash Grab Part 2: Price Control, Misdirection, and Unexpected Victims
Worldcoin is projected to commence insider unlocks in 7 days at one of the lowest floats ever recorded in the industry, with just 2.7% of the supply circulating
> This research piece brings to light exactly how the team is controlling the price to still carry a $30 billion fully diluted valuation as insider unlocks begin, while falsely claiming to have no involvement.
Source: https://x.com/DefiSquared/status/1813506473915466142
Spot ETH ETFS Launch Next Week Will Drive Price Above $5,000 - Bitwise
Source: https://x.com/bscnheadlines/status/1813498024506675548?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Vitalik: Against Choosing Your Political Allegiances Based On who is “Pro-Crypto"
“Crypto-friendly now does not mean crypto-friendly five years from now”
If a politician is pro-crypto, the key question to ask is:
> Are they in it for the right reasons?
> Do their vision of how tech, politics & the economy should go in the 21st century aligns with yours?
> If they do, then great: you should support them & make clear that that's why you support them
> If not, then either stay out entirely, or find better forces to align with.
Source: https://vitalik.eth.limo/general/2024/07/17/procrypto.html
TABASCOweb3: Best Chain Abstraction Resources, H1 2024
If you're researching chain abstraction, start here!
> Introductions / Overviews: Featuring Shoal Research’s article on Chain Abstraction
> Frameworks / Mental Models
> Podcasts / Panels
> Talks
> Project-Specific Coverage
Source: https://x.com/TABASCOweb3/status/1813103999098184173
Ansem’s Schizocast: “Core 5 Coins I Want to Own Going Into Q4”
> $SOL
> $GLXY / $BRPHF
> $WIF
> $MKR
> $RKLB
TLDR: Derisked from higher, still have exposure but deciding how much out of cash to buy back with, increasing probability lows already in, dont think ATHs in Q3 but in Q4
Source: Ansem’s Schizocast
July 16th~ Rollup
🐚 Research and Ideation 💡
- Pavel Paramonov: Layer 1s Landscape
- Retentionjunkie: New Pump Fun Rug Method
- Christine Kim: What You Need to Know About the Issuance Change Discussions on Ethereum
- Ryan Y Yi: ELI5 - L3s
- Zaddycoin: $GSOL (Grayscale Solana Trust) is Trading at Over a 750% Premium
- Moic Digital: Jupiter is Dominating the Perps Industry
- y77cao: Don't Build an Onchain Game
- Syndica: Deep Dive Into Solana Perps
- Asxn: MakerDAO’s Spark Tokenization Grand Prix
- Tiger Research: CEX Native Blockchain Trends
- Suhail Kakar: Ethereum ELI5
- Toran Bruce: Introducing the Next Generation of AutoGPT
🐚 News 📕
- Mt. Gox Moved 44,527 BTC(2.84B) To An Internal Wallet Ahead of Anticipated Payouts
🐚 Project Updates 🔔
- Li Fi Protocol Exploited
- Sanctum’s $CLOUD Has Been Minted!
- Phala Network’s dAGIHouse Hackathon Winners
Phala Network’s dAGIHouse Hackathon Winners
Winning Teams Who Built Their projects on Phala’s AIAgentContract
Out of a total of 43 hackathon submissions, 10 were submitted to Phala.
> 1st Place: WarpAds - Facebook Ads on Farcaster
> 2nd Place: Devdock - An AI IDE Extension with Crypto Rewards
> Also 2nd place: Jarvis - Collaborative Token-Gated Pragmatic Multi-Agent
> 3rd place: Open Market - A Decentralized & Digital Marketplace for AI enthusiasts
Source: https://x.com/PhalaNetwork/status/1813311504315486285
Asxn: MakerDAO’s Spark Tokenization Grand Prix
A competition designed to onboard up to $1 billion in tokenized short-duration US Treasury Bills.
> Participants were invited to submit proposals, which will be evaluated by Maker Governance for potential onboarding.
> Major RWA crypto projects like Ondo Finance, Paxos, OpenEden, and Mountain Protocol have expressed their intent to participate
Source: https://x.com/asxn_r/status/1812956408255582380
Alex Nezlobin: On CoW AMM Claiming to Have Outperformed Uni v2 in USDC/WETH Pool
> The claim is interesting because the Uni v2 USDC/WETH pool actually has positive markouts.
> The pool currently has ~$100M of liquidity so it's not a huge rate of return, but at least it's positive!
> The analysis from the CoW AMM team doesn't use markouts to measure returns.
Source: https://x.com/0x94305/status/1813690004331438306?s=52&t=txFAbiSPTdLLDlAYj9X_AA
WazirX Hacked for Over $230m USD (2,000 cr INR), their Safe Multisig Compromised & Drained
> The hackers started practicing the hack onchain at least 8 days ago and finally executed it today.
> The attackers upgraded the multisig to a malicious version that allowed them to drain the multisig👇
Source: https://x.com/mudit__gupta/status/1813881385800913327?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Suhail Kakar: ENS (Ethereum Name Service) ELI5
Source: https://x.com/SuhailKakar/status/1813854225967030781?t=QV1zMEkB1039nqaGDpWKIg&s=19
Zama: Build an End-to-End Encrypted 23andMe-like Genetic Testing Application using Concrete ML
One challenge of the Zama Bounty Program Season 5 was to create an encrypted version of 23andMe (or other DNA testing platform) using Fully Homomorphic Encryption (FHE)
> Github users Alephzerox and Soptq successfully completed this bounty
> This blog post is based on their contributions.
Source: https://www.zama.ai/post/build-an-end-to-end-encrypted-23andme-genetic-testing-application-using-concrete-ml-fully-homomorphic-encryption
Four Pillars: Ethereum ETF Approval and Ethena - A Potential Opportunity
The SEC is expected to approve spot Ethereum, potentially bringing up to $5 billion in inflows within the initial six months.
> The approval of the Eth Etf could boost yields for Ethena's synthetic dollar, sUSDe, much like the yields observed following the Bitcoin ETF approval
Source: https://4pillars.io/en/articles/ethereum-etf-ethena/public
Trojan TG Bot Hits 5 BILLION in Lifetime Volume
Source: https://x.com/TrojanOnSolana/status/1813255280576327803
ZachXBT: Shame On All of the VCs and Team Members Who are Complicit In this
“Shame on all of the VCs and team members who are complicit in the biggest scam token of the bull run and did nothing to prevent it”
Source: https://x.com/zachxbt/status/1813521571274985870
Coinbase Will Add Support for Ancient8 $A8 On the Ethereum Network
Source: https://x.com/CoinbaseAssets/status/1813602150452179171
BONKbot Hits $7bn Lifetime Volume, Decides to Send Back ~$60m in Current Value Back to Users & BONK Ecosystem
Source: https://x.com/bonkbot_io/status/1813618414524719340
0x v2: 0x's Next-Gen Pricing Engine
“Serious liquidity. Serious routing. Serious security”
0x v2 offers:
> Seamless swap experience at the best all-in price
> Optimal trade execution
> Powerful new monetization controls
> Enhanced security baked in at the ground level
Source: Twitter post | https://0x.org/post/introducing-0x-v2-pricing-engine?utm_source=social&utm_medium=tw&utm_campaign=v2
Grayscale Launches New Decentralized AI Fund
Source: https://www.globenewswire.com/news-release/2024/07/17/2914647/0/en/Grayscale-Investments-Launches-New-Decentralized-AI-Fund.html
0xNairolf: Multi-Layer Chain Abstraction Stack Explained
Application-level enables devs to build cross-chain apps easily, account-level reduces user complexity with wallets and bridging, while blockchain-level boosts collaboration through shared infra features
> All with the same goal: chain abstraction.
Source: https://x.com/0xNairolf/status/1813188428101558596?t=3JMAyYCf6K3EmUgE2OIt-A&s=19
Suhail Kakar: Ethereum ELI5
Source: https://x.com/SuhailKakar/status/1813501711803134386?t=e2VeiZSAWkUHCgmSykWuZw&s=19
Tiger Research: CEX Native Blockchain Trends
> Purpose of Native Chains: Binance and Coinbase use their platforms to strengthen their ecosystems and diversify their revenue models
> Types of Native Chains: Token-centric & tech-centric native chains
> Challenges of Native Chains: Carries substantial regulatory risks
Source: https://reports.tiger-research.com/p/native-blockchain-eng?r=aaog1&utm_medium=ios&triedRedirect=true
Syndica: Deep Dive Into Solana Perps with On-Chain Data from Jupiter, Drift, Zeta & Flashtrade
> Q2 Solana perps trading volume surpassed the previous two quarters combined.
> Following TGE, Drift Protocol has seen an impressive uptick in volume post-TGE.
> Jupiter Liquidity Provider (JLP) TVL on Drift has increased 9x in just 2 weeks.
> FlashTrade's volume spiked in June, jumping 15x in just six months.
Source: Twitter Post | Full Report: https://blog.syndica.io/deep-dive-solana-defi-june-2024/