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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
DiogenesCasares: Review of Ethereum's Order Flow Landscape
This piece explore the benefits of auction-based order execution in DeFi, highlighting how it improves user profits and market efficiency by redirecting MEV profits to users.
> It also discusses the potential pitfalls of auction systems, such as the centralization risks, and emphasizes the need for decentralization to prevent collusion.
https://writings.flashbots.net/illuminate-the-order-flow
Source: https://x.com/DiogenesCasares/status/1816600848610603377
BlockFi Estate Plans to Return 100% of Eligible Claims
“Clients can now expect to receive 100% of your eligible claim from the BlockFi Estate”
Source: https://x.com/blockfi/status/1816608998763688300
2077 Research: The State Of Rollup Interoperability Solutions In 2024
> This article is written around ZK rollups and ZK technology.
> This is because optimistic rollups cannot fundamentally have fast objective finality, and such a property is only reachable using ZK.
> Optimistic design is fundamentally restrictive, it will never handle interoperability with other rollups
> The primary technology for making optimistic rollups interoperable with each other is shared sequencing
> We have to embrace ZK and its limitless benefits.
> We have to use them to our advantage to build things that get us closer to making Web3 a place for everyone in the world.
Source: https://research.2077.xyz/blog/some-steps-towards-interoperability/
The Rollup: How Caldera is Becoming The Distribution Channel for Modular Infra
Guest: 0xkatz - CEO of Caldera
They discussed:
> What it actually looks like to provide their services for projects, who their customers are?
> Their non-crypto native marketing strategy
> The technicals behind their recent metalayer announcement
Source: https://x.com/therollupco/status/1816549533611933823
Yh: Chain Abstraction and MPC Protocols
Chain abstraction’s goal is for users to interact with apps without realizing they are using a blockchain or knowing which specific blockchain is being used.
> Multi-Party Computation (MPC) – a cryptographic protocol allowing multiple parties to jointly compute a function while keeping their inputs private
> Among the MPC protocols, Lit Protocol stands out as the most mature & production-ready option
Source: https://medium.com/yonseiblockchainlab/chain-abstraction-and-mpc-protocols-35ac25b23dea
OpenAI is Testing SearchGPT, A Temporary Prototype of New AI Search Features
SearchGPT gives fast and timely answers with clear and relevant sources
Source: https://x.com/openai/status/1816536290822881780?s=46&t=2q9OLMlaobNlHLewOXT4uA
NodeOps: Understanding Actively Validated Services (AVS) & its Impact on Decentralization
AVS, coined by EigenLayer, refers to services or apps built on top of the Ethereum blockchain and used for security and validation mechanisms.
Impact of AVS on Decentralization:
> Unlocking permissionless innovation
> Interoperability and scalability
> Economic incentivization
> Lower barrier to entry
> Distributed validator network
> This blog explores AVSs, their benefits to decentralized networks, and their landscape
Source: https://x.com/NodeOps_App/status/1816432365163454501
Marginfi Introduces ‘The Arena’ – Allowing Users to Long/Short Any Token on Solana with Leverage
Source: https://x.com/solanafloor/status/1816427866361626781?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Jito Announces Jito Restaking, A Next-Gen Infrastructure Platform
Jito Restaking consists of two main components:
> The Vault Program
> The Restaking Program
> These work together to provide a flexible, scalable infrastructure for creating and managing staked assets, LRTs, and AVS
Source: https://x.com/jito_sol/status/1816488798374830164?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Arjun: Quick Notes From the 'The Solver Games' Panel
> What makes a good solver? Passion for execution over impact
> Searchers and solvers are practically the same thing, but this might be a short-term perspective.
> Decoupling solvers from capital promotes competition, commoditizes solvers & creates efficient market
> Solvers tend to bring their own capital and have an edge but if you isolate the solving from the capital, you can take away the edge that big market makers like Wintermute have today.
https://www.youtube.com/live/o4gbaqdqO9Q?t=17084s
Source: https://x.com/arjunnchand/status/1816140464346525903?t=2wSzDZtkRbY-pFCSZp3lPg&s=19
Farcaster Ecosystem Map
Source: https://collidervc.notion.site/2baaaf794a2a4b5c9cdf917f5f5f9c68?v=8b158dcead0b46d4b43b5edabb5e87cb
Cygaar: Beginner’s Guide to Account Abstraction
Account Abstraction is a set of frameworks and standards that turbocharge the capabilities crypto wallets (accounts).
Unlike EOAs on Ethereum where all txs must be paid in the chain's native gas token and must be paid by the initiator, with Account Abtraction:
> Transaction can be fully sponsored by a 3rd party
> Transactions can be paid for in different tokens
> Transactions can be batched together, saving gas costs and allowing for token swaps without separate approval
Source: https://x.com/0xCygaar/status/1816228257181860099?t=N2D3Z8JPJO6_hoteZkbUFg&s=19
Sequoia: The Arc Product-Market Fit Framework
This framework outlines three distinct archetypes of PMF which help you understand your product’s place in the market and determine how your company operates.
> Hair on fire
> Hard fact
> Future vision
www.sequoiacap.com/article/pmf-framework/
Source: https://joapen.com/blog/2024/04/19/the-arc-product-market-fit-framework/
Solend Has Now Rebrand to “Save” –Solana’s Permissionless Savings Account
This rebrand also brings 3 new products: SUSD, saveSOL, and dumpydotfun
Source: https://blog.save.finance/solend-is-now-save-c8a204ce5ea5
Drift Unveils Election Center Swaps on Solana
“Swap your presidential memecoins now”
Source: https://x.com/DriftProtocol/status/1816130656625373580
ON–254: Zoomed-in on Layer3
Layer3 is an omnichain identity and distribution protocol addressing the dual challenges of attention and distribution in web3.
> Protocols such as Uniswap and Polygon have leveraged Layer3 to reach more than 4M unique users across 120 countries and 30 blockchains via highly targeted and efficient token distributions.
Source: https://www.ournetwork.xyz/p/on-254-zoomed-in-on-layer3
Berachain: First Liquid EVM, Powered by PoL
For the first time, a chain's block rewards and distribution of incentives are fundamentally tied to the liquidity flowing across the network, aligning liquidity and security at the protocol level.
Source: https://x.com/smokeythebera/status/1816166758962627039?s=46&t=2q9OLMlaobNlHLewOXT4uA
aPriori Announces $10M Total Fundraise Led by Pantera
aPriori is building the MEV-powered liquid staking platform for Monad
Source: https://x.com/aprMEV/status/1816487728285979074
Flashbots: Report on Privacy Tech for Building a Dark Pool in DeFi
Exploring the tradeoffs of using different privacy-enabled technologies (TEE, ZKP, FHE, and MPC) in designs for dark pools. This write-up covered:
> Different types of trading systems that can be put into a dark pool
> The characteristics of the dark pool we care about
> An example of the architecture of a dark pool
> The tradeoffs of using different privacy tech for implementations.
Source: https://collective.flashbots.net/t/dark-pool-researchathon-privacy-tech-for-building-a-dark-pool-in-defi/3705
LI.FI is Live on Solana!
LI.Fi REST API offers seamless integration with the Solana blockchain through Allbridge, Mayan and Jupiter.
> Bridging via Allbridge
> Bridging via Mayan
> USDC bridging via Circle CCTP
> Swaps via Jupiter
https://docs.li.fi/li.fi-api/solana
Source: https://x.com/arjunnchand/status/1816438556513989028?t=ojqAMGa2Bjc7Jz7cpG18gQ&s=19
0xNairolf: Zama Explained in Simplr Terms
FHE allows user data to be processed without decryption, enhancing privacy and security.
> Zama is developing several open-source FHE solutions, including the fhEVM, which enables developers to build confidential on-chain applications in Solidity.
Source: https://x.com/0xnairolf/status/1816440569637282086?s=46&t=2q9OLMlaobNlHLewOXT4uA
Decentralised Co: The Power of Aggregation
This piece dives into one of the fastest-growing consumer applications within Web3 –Layer3
> Layer3 has crossed the chasm from needing to retain users to one that has developed habits among its user base
> Many new users sees it as Google-for-crypto
> This research explore how Layer3 is taking crypto to the masses
Source: https://www.decentralised.co/p/the-power-of-aggregation
Lagrange: ZK Coprocessor 101 - The Basics
Lagrange’s Coprocessor pre-processes blockchain data into an optimized, offchain ZK-friendly format
> By lifting heavy computations offchain & verifying their integrity onchain, the ZK Coprocessor makes computing large data sets efficient and verifiable
Source: https://x.com/lagrangedev/status/1816148867366412324?t=RFA0U4hSCMKbhPNZE7wgEA&s=19
Track ETF Flows on Nansen
Source: https://app.nansen.ai/eth-etfs
July 24th~ Rollup
🐚 Research and Ideation 💡
- ELI5: Fully Homomorphic Encryption
- Sequoia: The Arc Product-Market Fit Framework
- Proton Wallet User Experience & Security Model
- Cygaar: Beginner’s Guide to Account Abstraction
- Coinlist: How Sybils Harm Token Launches
- Farcaster Ecosystem Map
🐚 News 📕
- Kamala Harris will not be speaking at the Bitcoin Conference
🐚 Project Updates 🔔
- OpenEden Crosses $75 Million in Tokenized US Treasury Bills
- Drift Unveils Election Center Swaps on Solana
- Coinbase Will Add Support for BLOCKLORDS $LRDS on the Ethereum Network
- Solend Rebrands to “Save”
- Avail DA Mainnet & Token Are Now Live
Coinlist: How Sybils Harm Token Launches
Nothing destroys the credibility of a token launch faster than sybil attacks, where a single malicious actor creates multiple fake identities to try to gain disproportionate influence and token allocation in a network
> This piece explore how sybils harm token launches by looking at data from two recent airdrops: zkSync and LayerZero.
Source: https://blog.coinlist.co/sybils-token-launches-case-study-examples-2024/
Proton Wallet User Experience & Security Model
Proton Wallet is a digital asset wallet that currently supports self-custody on-chain Bitcoin.
> It uses end-to-end encryption(new window) on the keys that control your Bitcoin and your wallet metadata before they’re stored.
> This piece review the key features and security architecture that make Proton Wallet a private and secure wallet
Source: https://proton.me/blog/proton-wallet-security-model
Avail DA Mainnet & the AVAIL Token Are Now Live
Avail DA is the first modular data availability layer using validity proofs + data availability sampling.
> The AVAIL token powers the network—pay fees, stake to secure, and more.
Source: https://x.com/AvailProject/status/1815660846367826188
Coinbase Will Add Support for BLOCKLORDS $LRDS on the Ethereum Network
Source: https://x.com/CoinbaseAssets/status/1816138974512996702
ELI5: Fully Homomorphic Encryption
A form of encryption that enables computations to be executed on encrypted data, producing an encrypted result.
> When this result is decrypted, it corresponds precisely to the outcome of operations as if they had been performed directly on the plaintext👇
Source: https://eli5.inco.org/