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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
Sam Altman: The Days are Long but the Decades are Short (Life Advice)
> Never put your family, friends, or significant other low on your priority list.
> Life is not a dress rehearsal—this is probably it. Make it count.
> Pick the right thing to do, focus, believe in yourself, and work hard.
> Aim to be the best in the world at whatever you do professionally.
> Whether or not money can buy happiness, it can buy freedom, and that’s a big deal
> Talk to people more. Read more long content and less tweets. Watch less TV
> Go out of your way to be around smart, interesting, ambitious people.👇
Source: https://blog.samaltman.com/the-days-are-long-but-the-decades-are-short
Franklin Bi on the Compound Governance Attack
Source: https://x.com/FranklinBi/status/1817977808922288410
TheiaResearch: In Defense of Fundamentals
Splitting the world into two paradigms, we have fundamentals and periodic mania paradigm
> The fundamentals paradigm means you believe in the industry's long-term vision but don't expect tokens to trade above intrinsic value
> The Periodic mania paradigm: Investors believe there is a bubble every 4 years and none of this matters
> “We are due for a paradigm shift towards a fundamental view of the world”
> “We are still at the beginning of one of the largest cash flow opportunities in the history of capitalism”
> “All you need to do to benefit is work hard and focus on fundamentals”
Source: https://x.com/theiaresearch/status/1817903747974017356?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Stacy Murr: Overview of Theoriq
Theoriq provides a foundational protocol for managed agent interoperability and composition.
> It is built on three fundamental concepts: Interoperability, Composability, and Community governance
> Theoriq fosters a community-driven marketplace where developers, users, and agents interact, incentivized by token economics.
> The ecosystem is designed to evolve with AI progress & community needs, ensuring wide adoption
> Theoriq token serves as : incentive alignment mechanism, a security assurance tool, and Governance
> The protocol uses Proof of Contribution & Proof of Collaboration mechanisms to reward participants
Source: https://x.com/stacy_muur/status/1817920655796613159
$GM is Launching on Solana on Aug 14th, 2024
Source: https://x.com/gm_dot_ai/status/1817908702625796186
Decentralised Co: EigenLayer and AI
Today, most AI processes run on the cloud, from hyperscalers like AWS to specialised cloud providers like Lambda and Coreweave
> These services facilitate both training models and inference, which makes EigenLayer as the web3 cloud, a natural fit for web3 AI applications.
> This piece explore the intersection between EigenLayer & AI, and some projects building on this
Source: https://x.com/Decentralisedco/status/1817917365373350336
July 28th~ Rollup
🐚 Research and Ideation 💡
- 100y.eth: Using Solana as a Sequencing Layer –Rome Protocol
- Kairos Research: Does Solana Need Restaking?
- Sonya Kim: Quick Look @ the Historical MEV on Solana vs. Ethereum
- Nothing Research: Technical Comparison: FHE vs ZK vs MPC
- Eda: EigenLayer AVS Ecosystem
🐚 Project Updates 🔔
- Compound’s Proposal to Transfer 499K COMP to a TrustSetup Controlled by Goldenboys Has Passed
- BlonkFi Has Closed its Pre-Seed Fundraising, Led by UOB Venture Mgt & Signum Capital
Nothing Research: Technical Comparison: FHE vs ZK vs MPC
While they are all advanced encryption technologies designed to protect data privacy and security, they differ in application scenarios and technical complexity:
> ZK emphasizes “proof.”, MPC emphasizes “computation.” , and FHE emphasizes “encryption.
> ZK requires deep mathematical & programming skills to design zk proofs protocol
> MPC require high coordination & computational cost to address communication efficiency issues
> FHE due to its complex encryption algorithms, faces high computational complexity and time costs
Source: Nothing_Research/technical-comparison-fhe-vs-zk-vs-mpc-b876c7266c14" rel="nofollow">https://medium.com/@Nothing_Research/technical-comparison-fhe-vs-zk-vs-mpc-b876c7266c14
Sonya Kim: Quick Look @ the Historical MEV on Solana vs. Ethereum
> It's common belief that Solana should have lower MEV than Ethereum due to its shorter block times.
> This has been the case, with Ethereum averaging 11bps of DEX volumes to Solana's 2-3bps
> In March, Solana's MEV spiked to 15-20bps of DEX volumes, exceeding Ethereum's
> MEV, like transaction fees, will be subject to deflationary pressures.👇
Source: https://x.com/sonyasunkim/status/1817683426910056894?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Compound Finance’s Proposal to Transfer 499K COMP (~$24M) to a Multisig TrustSetup Controlled by Goldenboys Has Passed
compound.finance/governance/proposals/289
Source: https://x.com/asxn_r/status/1817665076247093557?s=52&t=txFAbiSPTdLLDlAYj9X_AA
July 27th~ Rollup
🐚 Research and Ideation 💡
- Helius: Zero-Knowledge Proofs: An Introduction to the Fundamentals
- Umbra Research: A Sandwich-Resistant AMM
- Decentralised Co: Revisiting Aggregation Theory (2023)
- Suhail Kakar: Flash Loans ELI5
- Viktor DeFi: Crypto AI Series: FHE
Suhail Kakar: Flash Loans ELI5
Source: https://x.com/SuhailKakar/status/1817213170601144326
Umbra Research: A Sandwich-Resistant AMM
AMMs expose swappers to sandwich attacks. Sandwich attacks occur when a victim trader places an order on an AMM with a high slippage tolerance (say 99%).
> This piece introduces a sandwich-resistant AMM
> An AMM that prevents atomic sandwich attacks at the application layer.
> The aim is to help protect users who suffer from frontrunning attacks on AMMs
Source: https://www.umbraresearch.xyz/writings/sandwich-resistant-amm
July 26th~ Rollup
🐚 Research and Ideation 💡
- Pavel Paramonov: Solana's Transaction Flow
- KyleSamani: Thoughts on predictions markets (PM)
- 0xelonmoney: All You Need to Know About Goldfinch
- Tom Wan: AAVE New Staking Mechanism, Fee Switch, and Restaking for Safety Module
🐚 Project Updates 🔔
- Drift Set to Launch Prediction Markets on Solana
- EigenLayer Set to Launch AVS Rewards & EIGEN Programmatic Incentives
- Ledger Introduces Ledger Flex
- Dinero Introduces Institutional pxETH (ipxETH)
Leviathan: Compound Hack Overview
Guest: Bryan Colligan of Alpha Growth’s
The saga unfolded over the past few days, culminating in the passage of Proposal 289 - a controversial measure that allocates a staggering 499,000 COMP tokens (worth approximately $24 million and representing 5% of the total supply) to an LSD-style liquid locker controlled by a group known as the "Golden Boys." led by a whale investor called “Humpy”
> This episode explain the ongoing situation, how Humpy was able to get his vote passed, and what the future implications will be for Compound.
Source: https://open.spotify.com/episode/3ICsWq8KXitGDjjv2T7acx?si=QOKovAbKSKqshA5-xYXMYQ&nd=1&dlsi=15a696db60954e3f
Jito Hits $3.2MM in Validator Tips Yesterday
a New All Time High
Source: https://x.com/AustinBarack/status/1817959001663111218
Smort: First Lossless Prediction Market on Solana
Smort manlets can long SOL, earn superior yield for correctly predicting the market, while being principal protected
Source: https://x.com/smort_xyz/status/1817944352842489988?s=46&t=ywALktyM5ZCyt-zigN5Big
Theoriq: The AI Agent Base Layer (Litepaper)
Theoriq is a novel protocol for creating and managing AI agents that addresses a critical gap in the current AI ecosystem.
> By providing quality solutions for interoperability & composability, Theoriq offers a path to unlocking the potential of collective artificial intelligence
> Its flexibility and extensibility coupled with a dynamic marketplace solution sets it apart
Source: https://cdn.prod.website-files.com/6631eac002c5853093efa70c/66a26a64a4d588f0092e6843_Theoriq_Litepaper_2024JUL23r2.pdf
Substack Introduces Embeds for Prediction Markets from Polymarket
This new feature is introduced to coincide with the advent of the 2024 Paris Olympics, on which Polymarket is providing comprehensive coverage
Source: https://on.substack.com/p/dynamic-prediction-market-tables?r=aaog1&utm_medium=ios&triedRedirect=true
Moonshot is Now Live on Android
Source: https://x.com/usemoonshot/status/1817932631163412627
Eda: EigenLayer AVS Ecosystem
Actively Validated Services (AVS) are infrastructure built by EigenLayer, which helps them in redefining bootstrapping for Proof of Stake (PoS) networks.
This piece categorize AVS into:
> RollUp Services
> Decentralized Networks
> Privacy
> Developer & Operator Tools
Source: https://mirror.xyz/edatweets.eth/Pbl2PTxEDzqRTp2TsOZryw7qNrJR1t9V-Y-QvUf_ZVU
BlonkFi Closes its Pre-Seed Fundraising, Led by UOB Venture Management and Signum Capital
BlonkFi is a core liquidity infrastructure protocol aiming to address the issue of illiquidity for volatile long-tail mid-market capitalization assets
> Example is memecoins, BlonkFi addresses this by enabling such assets to be collaterised for liquidity
Source: https://x.com/blonkfi/status/1817759306596720756?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Kairos Research: Does Solana Need Restaking?
A brief analysis on Jito's latest product
> The recently announced Jito restaking platform will have vault program, much like Symbiotic
> One difference is that instead of outsourcing LRT creation and leaking value to exogenous protocols,
> Jito will have an LRT module, allowing others to create and operate LRTs through the Jito protocol itself.
> Jito will also allow the creation of liquid staked AVS tokens that can then be productively used in DeFi.
Source: https://x.com/kairos_res/status/1817632480318685666?s=52&t=txFAbiSPTdLLDlAYj9X_AA
100y.eth: Using Solana as a Sequencing Layer –Rome Protocol
Rome protocol modularized solana, enabling L2 to use Solana as their shared sequencer.
> It offers Rhea-Hercules which enables rollups to use Solana shared sequencer👇
Source: https://x.com/100y_eth/status/1817475584207040612?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Viktor DeFi: Crypto AI Series: FHE
“Imagine a world where sensitive info remains secure throughout processing, whether it's in the cloud, on a blockchain, or in transit”
> FHE is the ability to perform computations on encrypted data without ever decrypting it.
> This piece discuss Fully Homomorphic Encryption (FHE), its benefits, and projects frontrunning it👇
Source: https://viktordefi.com/p/crypto-ai-series-fhe?r=aaog1&utm_medium=ios&triedRedirect=true
Live: Trump Speaking at The Bitcoin Conference
Source: https://www.youtube.com/live/Kk3La9zQOuA
Decentralised Co: Revisiting Aggregation Theory (2023)
Aggregation theory has been all the rage in Web3 for over a year, but products with tokens have been slowly eating into the business model.
This piece covers:
> Moats in web3
> Weaponising tokens
> How products evolve from providing novelty to convenience.
Source: https://www.decentralised.co/p/revisiting-aggregation-theory
Helius: Zero-Knowledge Proofs: An Introduction to the Fundamentals
ZK Proofs can prove facts or knowledge of certain information in a variety of contexts in a way that is privacy-preserving and precise in its correctness.
> Any problem we can reduce to a series of true and false questions can be proved efficiently with zero-knowledge proofs.
> This article explored the underlying theory, mathematics & cryptography that powers zk proofs
Source: https://www.helius.dev/blog/zero-knowledge-proofs-an-introduction-to-the-fundamentals
AAVE New Staking Mechanism, Fee Switch, and Restaking for Safety Module
AAVEnomics Proposal Key Takeaways:
> The current stage is still at temperature check
> Even if the proposal has passed, the fee switch will not be turned on immediately
> AAVE Staking module will be slashing free
> There will still be a lockup period of 20 days
> AAVE staking will no longer cover bad debt
Source: https://x.com/tomwanhh/status/1816790396883628322?s=46&t=ywALktyM5ZCyt-zigN5Big