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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
Biconomy: AI Agents Transforming the Web3 User Experience [July 18th]
AI Agents will help us build an intelligence layer on top of the existing DeFi rails
Caterogies of AI agents
> Gaming AI Agents
> Autonomous Portfolio Managers
> Prompts based AI Agents
Source: https://www.biconomy.io/post/ai-agents-transforming-the-web3-user-experience
Elixir Introduces Decentralized US Dollar (deUSD)
deUSD is a fully collateralized synthetic dollar powered by the Elixir Network
> Collateralized by stETH and sDAI, the Elixir Network utilizes collateral to capture funding via shorting perps, while mitigating funding risks
Source: https://x.com/elixir/status/1818655435395838290
juggernaut: Banana Gun – Holding Ethereum Hostage
“Between its launch in late May 2023 till October 2023, Banana Gun Bot built an economic moat by encouraging a high bribe culture amongst its users, if you wish to snipe on Ethereum, you use Banana”
> This piece discuss how the $Banana team may be Siphoning off millions from its users & Ethereum validators
Source: https://nothinginsignificant.substack.com/p/banana-gun-holding-ethereum-hostage
Catalysis: Shared Security Abstraction
Shared Security Abstraction (SSA) is a concept designed to abstract the complexities of underlying restaking protocols for AVS networks, making shared security more accessible and efficient.
> Networks can rent economic security irrespective of the underlying shared security protocol
Source: https://catalysis.medium.com/shared-security-abstraction-5910fbd5b79c
Arthur Hayes: Airhead
Airheads are unique Bitcoin Ordinals designed to showcase and flex your wealth
> Each Airhead is an inflatable, balloon-like character generated using recursive art to visually represent the size and value of your digital portfolio at the point of mint, with 10,000 Airheads available.
> These characters use sequential ranking and tier differentiation to reflect asset weightings according to the leaderboard, making them a fun and competitive way to display your wealth.
Source: https://cryptohayes.substack.com/p/airhead
Makenowmeme Now Allows Anyone to Launch Memecoins Directly from a Tweet on X
Source: https://x.com/makenowmeme/status/1818564678815302148
OpenAI Releases ChatGPT’s Hyper-Realistic Voice to Some Paying Users
ChatGPT Plus users will get to see first hand how hyper-realistic OpenAI’s Advanced Voice Mode really is.
Source: https://techcrunch.com/2024/07/30/openai-releases-chatgpts-super-realistic-voice-feature/
Eclipse: The Best Of Solana, Ethereum, And Celestia
Eclipse has chosen Celestia for data availability and Ethereum for consensus and settlement.
> These design choices mean Eclipse will have extremely fast and cheap transactions through the SVM, while tapping into Celestia’s DA layer for economical & easily verifiable publishing of transaction data
> Since it runs the SVM, developers who may feel intimidated or crowded out by large protocol teams with significant headstarts on Solana can experiment with Eclipse as a greenfield SVM👇
Source: https://www.placeholder.vc/blog/2024/7/30/eclipse-thesis-combining-the-best-of-solana-ethereum-and-celestia
Reuters: California DMV Puts 42 Million Car Titles on Blockchain to Fight Fraud
Source: https://x.com/reuters/status/1818287973277872267?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Gordon Liao: What Drives Crypto Asset Prices?
This paper investigates the drivers of Bitcoin returns and stablecoin flows using a structural VAR model identified with sign & magnitude restrictions
> Analysis shows that crypto markets are influenced by a blend of traditional financial factors and unique crypto-specific dynamics
> It highlight the importance of these drivers in navigating the volatile landscape of digital assets
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4910537
Source: https://x.com/gordonliao/status/1818333343651688631
Movement Labs Public Testnet is Now Live
Whether you're a dev, creator, or community enthusiast, Movement has a place for you
> USERS can get involved with testnet by helping Build the Parthenon (Movement mainnet), this include participating in Galxe quests - here
> Developers can build on the Movement testnet through the Battle of Olympus
Source: https://blog.movementlabs.xyz/article/movement-testnet-movedrop-parthenon-how-to-use
Dune Dashboard to Track All Ethereum ETF Onchain Flows
tracks onchain deposits & withdrawals of addresses identified as custodians of Eth ETFs.
https://dune.com/hildobby/eth-etfs
Source: https://x.com/hildobby_/status/1818277136131842418
Haseeb on Hype and Community
“Hype is not community. You can build a big brand and still not have a community”
> Community is not what you give to your users, it's what your users give to each other.
Source: https://x.com/hosseeb/status/1817967979122012185
0xngmi: Looks like Humpy and Compound Reached a Truce
> Humpy will cancel proposal and drop the +500k in comp tokens
> Comp will share fees earned with comp holders
Source: https://x.com/0xngmi/status/1818061316713759136?s=52&t=txFAbiSPTdLLDlAYj9X_AA
ASXN: The Game Theory of Bitcoin Adoption Among Nations
> Nations face a strategic game theory dilemma with Bitcoin adoption, balancing high early-mover risks with significant potential rewards.
> A Nation's Bitcoin adoption strategy is best understood with the help of two ideas: First Mover Advantage and the Payoff Matrix
> The payoff matrix indicates adoption as the dominant strategy, driving a bandwagon effect once influential nations act. 👇
Source: https://x.com/asxn_r/status/1818017375159206132
Telegram Browser, Mini App Store, Gifting Stars…
> More than 500 million out of Telegram's 950 million users interact with mini apps every month.
Source: https://telegram.org/blog/w3-browser-mini-app-store
The Rollup: One Rollup or A Million Rollups?
Guest: Terry Chung from Eclipse
> This episode discuss Eclipse's vision to build a single, highly performant rollup using the SVM
> The challenges and opportunities that come with shared sequencing, and more
Source: https://open.spotify.com/episode/17e0gUDXvtOknv1duqy165?si=31f4b5f352214c9c&nd=1&dlsi=7ba0101a509d4407
Chain Abstraction: Top 10 Accounts to Follow to Stay Up to Date
Featuring: Arjun, knwang, The Rollup, Jason Maier, and more👇
Source: https://x.com/0xASK/status/1818631912979591519
Jokerace Raises $3 million, Led by Maven11
Jokerace is a no-code project that allow blockchain projects launch competitions, debates and hackathons to incentivize participation
Source: https://x.com/jokerace_io/status/1818660513905360910
July 30th~ Rollup
🐚 Research and Ideation 💡
- Hildobby: Dune Dashboard to Track All Ethereum ETF Onchain Flows
- Flip Research: SOL- The Emperor's New Clothes (Solana Bear Case)
- Gordon Liao: What Drives Crypto Asset Prices?
- Termina: Overview of SVM Use Cases
- Placeholder: Eclipse - The Best Of Solana, Ethereum, And Celestia
- Bagel: GPU Restaking
- Blockworks Research: Restaking on Solana – A Look at Jito
🐚 News 📕
- Reuters: California DMV Puts 42 Million Car Titles on Blockchain to Fight Fraud
🐚 Project Updates 🔔
- Eclipse Mainnet is Now Open for Builders
- Movement Labs Public Testnet is Now Live
- Irys L1: The First Programmable Datachain
- OpenAI Releases ChatGPT’s Hyper-Realistic Voice to Some Paying Users
- Makenowmeme Now Allows Anyone to Launch Memecoins Directly from a Tweet on X
Blockworks: Restaking on Solana – A Look at Jito
Solana's architectural differences lend itself to the creation of new & unique AVSs. Its stake-weighted Quality of Service enables new restaking services
> Jito announced its restaking expansion for Solana recently, becoming 4th restaking product on Solana
> Jito will be competing with the likes of Picasso Network, Solayer, and Cambrian (yet to launch)
> Jito controls the majority of the market share i.e it has userbase that will easily be able to restake their tokens from within the protocol using their JitoSOL
Source: https://x.com/blockworksres/status/1818349490090524850?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Bagel: GPU Restaking
GPU Restaking represents a significant shift in resource distribution. It enhances market liquidity and resource availability.
> This aligns with core principles of p2p systems.
> It facilitates unrestricted compute power trade, democratizing access to high-performance computing
> Bagel has launched a GPU restaking solution in collaboration with Filecoin foundation
Source: https://blog.bagel.net/p/gpu-restaking
Termina: Overview of SVM Use Cases
Solana projects are moving execution off-chain to enhance their core products, these teams are not developing L2s or appchains as a product offering for others but rather to meet their own needs.
> There are 3 main types of off-chain architectures: Appchains & SPEs, Rollups, and Batchers
> This piece delve into projects that are leading this shift including: Grass, Cube, Zeta, Pyth, and more
Source: https://www.termina.technology/post/svm-usecases
The Irys L1 – The First Programmable Datachain
The Irys chain will be optimized for both storage and computation of data.
> Irys will enable scalable onchain and temporary data, all while having a native VM integrated in the base layer — the IrysVM.
Source: https://x.com/connorking_/status/1818316081456349536
Flip Research: SOL- The Emperor's New Clothes (Solana Bear Case)
“I believe that SOL is overvalued from a fundamental perspective, and while existing sentiment + momentum may well drive price increases in the short term, the longer term picture is far more uncertain”
> “I believe that the commonly cited SOL metrics are significantly overstated”
> Vast majority of organic users are losing money onchain to bad actors at a rapid pace.
> Retail inflows are still outpacing outflows to these sophisticated players, allowing for positive optics.
> Once users are fatigued from ongoing losses, many of these metrics will collapse quickly.
Source: https://x.com/flip_research/status/1818216739680710776?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Eclipse Mainnet is Now Open for Builders
Eclipse combines the best pieces of modular stack:
> Solana's speed and execution
> Ethereum's security and $480B in liquidity
> ETH as the gas token
> Lower tx fees than even Solana
> Celestia's scalability
Source: https://x.com/EclipseFND/status/1818285443491991678
July 29th~ Rollup
🐚 Research and Ideation 💡
- Decentralised Co: EigenLayer and AI
- Stacy Murr: Overview of Theoriq
- TheiaResearch: In Defense of Fundamentals
- Franklin Bi on the Compound Governance Attack
- Leviathan Podcast: Compound Hack Overview
- Sam Altman: The Days are Long but the Decades are Short (Life Advice)
- ASXN: The Game Theory of Bitcoin Adoption Among Nations
- 0xngmi: Looks like Humpy and Compound Reached a Truce
- Haseeb Differentiating Hype From Community
🐚 News 📕
- BlackRock (ETHA) Daily ETH Flows: +58.6m: BBG
🐚 Project Updates 🔔
- Moonshot is Now Live on Android
- Substack Introduces Embeds for Prediction Markets from Polymarket
- GM is Launching on Solana on Aug 14th, 2024
- Theoriq: The AI Agent Base Layer (Litepaper)
- Smort: First Lossless Prediction Market on Solana
- Jito Hits $3.2MM in Validator Tips, a New ATH
- Solana Generated $5.5M in Total Fees Yesterday, Highest Over the Last 3 Months
BlackRock (ETHA) Daily ETH Flows: +58.6m: BBG
Source: Tree News
Leviathan Podcast: 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
Solana Generated $5.5M in Total Fees Yesterday, the Highest Amount Over the Last Three Months
58% of the value came from MEV tips and 37% from priority transaction fees
Source: https://x.com/smyyguy/status/1817945513594904986