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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
c0xswain: Predatory Tokenomics in LBPs and why $RAGE is Different
These predatory tokenomics usually comes in the form of a fixed unlock for KOLs (usually 10-30% of allocation) followed by a linear vesting schedule.
> Majority of LBPs are unprofitable, and this effect is exacerbated on longer timeframes.
> “$RAGE will be different from past LBPs as the fixed price, fair val, and lack of supply overhang creates PvE conditions”
Source: https://x.com/c0xswain/status/1818618076411404633?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Seth Bloomberg: What is Really Going On at the Intersection of AI x Crypto?
The intersection of AI and crypto is a rapidly evolving space, with debates around centralized vs decentralized AI and the potential for crypto networks to accelerate AI development.
> Open-source AI initiatives, such as Prime Intellect and Bittensor, are leveraging decentralized compute networks and coordination platforms to develop and deploy AI models.
> Meanwhile, AI agents, like Wayfinder and Autonolas, are being built to interact with on-chain protocols, enabling new economic activity and scaling possibilities.
Source: https://x.com/bloomberg_seth/status/1818985829001269426?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Delphi Digital: Ostium - On-chain Perps for RWAs
Ostium is a DEX built on Arbitrum offering synthetic perps for RWAs and crypto.
> With an innovative design, Ostium addresses challenges faced by both perpetual DEXes and RWA protocols.
> Its Shared Liquidity Layer reduces the adversarial relationship and net directional exposure for LPs
Source: https://x.com/Delphi_Digital/status/1819059753865170996
Variant: Investing in Morpho (Again)
Today, Variant has announced their investment in Morpho’s latest round, they also co-led Morpho’s seed round in 2022
> “The scale of activities that can be facilitated by Morpho’s infrastructure is enormous, and the potential for Morpho to benefit users is large”
Source: blog.variant.fund/investing-morpho-again
US Traders Flock to an Election-Betting Site they're Banned From
Site reported wagers on US elections approach $1b
> Users can resort to VPN to evade blockade
Source: https://www.bloomberg.com/news/articles/2024-08-01/polymarket-rides-election-betting-frenzy-that-defies-a-us-ban?embedded-checkout=true
Mason Nystrom: Exchanges Everywhere All At Once (Exchanges and Where to Find Them)
Exchanges are well-positioned to develop in scenarios where:
> New assets emerge onchain
> Apps control distribution and can introduce transactional behavior
> New services emerge that impact valuable onchain state or in a way connected to transactions
> Crypto games control their own asset issuance and have open economies
> Developer platforms can introduce service marketplaces or auction houses for transactions
Source: www.masonnystrom.com/p/exchanges-everywhere-all-at-once?utm_campaign=post
Movement Labs Research: What Is Movement?
Movement network is a set of modular and configurable Move Rollups that provide a platform for deploying interoperable, app-specific chains
> A network of high-throughput, fast-finality Move-based rollups secured by Ethereum
> This piece explain Movement, why Move and the Move Virtual Machine (MoveVM), features of the Move Rollups, and more
Source: https://blog.movementlabs.xyz/article/what-is-movement-move-blockchain
Morpho Labs Secures $50M, led by Ribbit Capital
The funding will support Morpho’s mission to make financial infrastructure a public good
Source: https://x.com/morpholabs/status/1819010855964479751?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Binance Labs Invests in Particle Network to Address User & Liquidity Fragmentation in Web3
Source: https://www.binance.com/en/blog/ecosystem/binance-labs-invests-in-particle-network-to--address-user-and-liquidity-fragmentation-in-web3-2579347885390894943
Gnosis DAO Introduces Gnosis AI
Division of Gnosis Labs working at the intersection of AI and web3
> Gnosis AI is focused on agent-to-agent payments and prediction markets
Source: https://www.gnosis.io/blog/meet-gnosis-ai
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
0xResearch: Bringing ZK Proofs to Developers Everywhere
Guest: Uma Roy, Co-founder of Succinct Labs
This episode covers:
> Succinct’s Prover Network & SP1
> Why zkVMs are needed
> Importance of being open source
> Whether all rollups will become zkRollups
> Succinct’s vision for the future, and more
Source: https://www.youtube.com/watch?v=qHUDNHNEJxw
Messari: Exploring AI x Crypto
This sector has seen explosive growth, with many projects now valued over a billion dollars with $230M invested in July 2024 alone
> AI agents will soon become autonomous, specialized in tasks & utilize crypto for transactions
> Platforms like Wayfinder will enable AI agents to perform secure onchain actions, such as token swaps and staking,
> This further integrates AI more deeply into the blockchain ecosystem
Source: https://x.com/MessariCrypto/status/1819032088869478716
Encifher: FHE is a Game-Changer for Encryption & Blind Data Processing on Blockchains
Fully Homomorphic Encryption (FHE) is a cryptographic primitive by which data can be processed without decryption. It enables encrypted data to be used both in transit and during processing.
> Key benefits of FHE include: Privacy, Security, and Versatility
> Encifher aims to enable much needed privacy and encryption within the Bitcoin landscape.
Source: https://x.com/encifherio/status/1819003885802885134?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Discussion on Intent Bridging and Messaging
> knwang: “Both systems require solver/relayer availability at either the transport or economic layers”
> “Incentivized agents are more likely to be available. The difference lies in how to achieve simpler agents”
> PrimordialAA: “Messaging is guaranteed to fill, intents are not”
> intents are a limit order hoping someone offchain is willing to take.
> Messages are a one-directional packet in a nonce enforced system that is guaranteed to be processed.
Source: https://x.com/knwang/status/1817976690192109652?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Paladin: Solving Bad MEV for Good
Paladin’s mission is to get rid of predatory MEV without introducing any centralization
> Fully decentralized, open-source +permissionless
> Paladin makes it more profitable for Solana validators NOT to frontrun
Source: uri_61495/introducing-paladin-9ec10ac49a31" rel="nofollow">https://medium.com/@uri_61495/introducing-paladin-9ec10ac49a31
Variant: Things We’re Excited About in Crypto
Predictions for this year and next:
> ETFs begin staking
> Mobile becomes the default.
> Institutions start staking.
> NFTs have another surprising evolution.
> Telegram leans into mini-apps/wallet/payments.
> DePIN onboards people to earning their first crypto.
> Block / CashApp launches a stablecoin.
> Shared sequencers finally launch, and more👇
Source: https://blog.variant.fund/things-excited-about-crypto
Grayscale: AI Is Coming - Crypto Can Help Make it Right [July 17, 2024]
Al is on the horizon and poised to have a profound impact, both positive and negative.
> By leveraging the attributes of blockchain technology, it is believed crypto can ultimately help mitigate some of the dangers posed by Al.
Source: www.grayscale.com/research/reports/ai-is-coming-crypto-can-help-make-it-right
July 31st~ Rollup
🐚 Research and Ideation 💡
- Arthur Hayes: Airhead
- Catalysis: Shared Security Abstraction
- Austin King: Chain Abstraction - Top 10 Accounts to Follow to Stay Up to Date
- juggernaut: Banana Gun – Holding Ethereum Hostage
- The Rollup: One Rollup or A Million Rollups?
- Telegram Browser, Mini App Store, Gifting Stars, and more
- Biconomy: AI Agents Transforming the Web3 User Experience [July 18th]
- Michael Egorov: Did You know Curve Revenues Are Comparable to Aave Revenues?
🐚 Project Updates 🔔
- Flywheel v1.0 Litepaper, Part 2
- Elixir Introduces Decentralized US Dollar (deUSD)
- Gnosis DAO Introduces Gnosis AI
- Binance Labs Invests in Particle Network to Address User & Liquidity Fragmentation in Web3
🐚 Raises 💰
- Jokerace Raises $3 million, Led by Maven11
Michael Egorov: Did You know Curve Revenues Are Comparable to Aave Revenues?
This DefiLlama chart shows system revenues for Curve and for Aave are pretty similar.
Source: Post on X | ✈️/channel/michael_curve/6
Spindl: Flywheel v1.0 Litepaper, Part 2
What if we wired crypto-native publishers onto the existing incentivized mechanisms like quests and referrals, and built it with all the onchain measurement and targeting?
> This is what Spindl/Flywheel provides at scale.
> It aim to create a permissionless, onchain advertising protocol that leverages blockchain data for targeting & measurement, ensuring user privacy
Source: https://blog.spindl.xyz/p/flywheel-v10-litepaper-part-2?r=aaog1&utm_medium=ios&triedRedirect=true
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