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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
Zircuit Launches Initial Mainnet Phase, Rolls Out ZRC Token Airdrop Claims
Source: https://www.theblock.co/post/309443/zircuit-mainnet-zrc-token-airdrop-claims
Eric Balchunas: Bitcoin ETFs Have Traded About $2.5b So Far
“Deep liquidity on bad days is part of what traders and institutions love about ETFs, so you also want to see volume too, good for the long term”
Source: https://x.com/EricBalchunas/status/1820472388372373563
The S&P 500 Erases $2.1 TRILLION of Market Cap at the Open
putting total market cap losses since July 16th at ~$5 TRILLION, i.e $357 billion PER TRADING DAY for the last 14 straight trading days
> The S&P 500 has erased 2 TIMES the value of Nvidia's, $NVDA, market cap in 14 days.
Source: https://x.com/kobeissiletter/status/1820456513908981934?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Arthur Hayes: Seems a TradFi Giant Got Smoked and is Dumping all Crypto
“No idea if this is true, I won't name names”
Source: https://x.com/cryptohayes/status/1820288304384004542?s=52&t=txFAbiSPTdLLDlAYj9X_AA
What is the USD-YEN Carry Trade? Why an Unwind Matter? Why is MUFG Down 21% on Mkt-Open?
A carry trade is when you buy something with margin underpinned by the same asset class.
> Yen's relatively muted volatility & near-negative int rate makes it primary "borrow" candidate to buy USD
> BOJ have hiked interest rates finally (making Yen more expensive to borrow)
> The USD is committing to a rate cut in Sept (has created a bull steepener via 2Y-10Y)
> This compresses the carry trade from both directions and has the impact of unwinding these dollars from US equities
Source: https://x.com/lazyvillager1/status/1820259391163044282
Lazyvillager1: Macro & The Ethereum Trade
This thread intends to capture iterative development around ETH from ~$3200.
A view on market forces & fundamental analysis underpinning flows
Source: https://x.com/lazyvillager1/status/1819865002024837399
Post-TGE Price Performance of Tokens Backed by Paradigm
“Even if a project has a reputable backer, that does not automatically convert into great returns for public market investors”
Source: https://x.com/tokenterminal/status/1819752943933174213
AnyTool: The AI That Can Use Any Tool
By combining a hierarchical API retriever, a self-reflection mechanism, and a revised evaluation protocol, AnyTool paves the way for more reliable, adaptable, and effective LLM agents capable of harnessing the power of vast API ecosystems
https://github.com/dyabel/AnyTool
Source: https://x.com/intuitmachine/status/1819326456066965773?s=46&t=ywALktyM5ZCyt-zigN5Big
Ethresearch: MagicSpend++ Spend Now, Debit Later
The current smart wallet experience forces an average Ethereum user to deal with fragmented asset, forcing them to manage fragments of their assets across 100+ rollups along with complexities
> This research propose MagicSpend++, a framework to allow users to magically spend on any chain instantly, without worrying about which chains their tokens are on.
Source: https://ethresear.ch/t/magicspend-spend-now-debit-later/19678
LLM Critics Help Catch LLM Bugs (June, 2024)
Reinforcement learning from human feedback (RLHF) is fundamentally limited by the capacity of humans to correctly evaluate model output.
> This paper tackles this challenge by proposing a novel solution: using LLMs themselves to critique the outputs of other LLMs.
> The authors advocate for training specialized LLM-based "critics" that can automatically identify and highlight potential issues in code generated by their counterparts.
https://arxiv.org/pdf/2407.00215
Source: https://x.com/intuitmachine/status/1819705846206533853?s=46&t=ywALktyM5ZCyt-zigN5Big
0xPARC: Programmable Cryptography (Part 1) July 30, 2024
Cryptography is undergoing a generational transition, from special-purpose cryptography to programmable cryptography.
Programmable cryptography primitives are far more flexible than first-generation cryptography as they allow us to perform general-purpose computation inside or on top of cryptographic protocols.
Examples include:
> Fully-homomorphic encryption (FHE)
> Multi-party computation (MPC)
> zkSNARKs
> Witness encryption
> Obfuscation
Source: https://0xparc.org/blog/programmable-cryptography-1
SXSW: The Singularity Is Nearer Featuring Ray Kurzweil (March, 2024)
Ray Kurzweil- Computer Scientist, Inventor, Futurist
Ray Kurzweil predicted in 1999 that the singularity, a hypothetical future event wherein artificial intelligence (AI) surpasses human intelligence will occur by 2029. Today, we are on track to reach that
Source: https://www.youtube.com/watch?v=xh2v5oC5Lx4
Solana: How It Works - An Executive Overview of the Solana Protocol
A holistic overview of the core Solana protocol that balances accessibility and depth.
> It provides an overview of all the key moving parts of the core protocol: Gulf Stream, the TPU, Turbine, block verification, consensus and gossip.
https://report.helius.dev
Source: https://x.com/__lostin__/status/1819086627387724022
Solana Builders — Ore: A New International Money
ORE is a Bitcoin-like peer-to-peer electronic currency distributed via proof of work mining, but implemented as a program atop Solana
> This thesis presents Ore as a levered bet on Solana’s success — a Solana-native mineable money has a solid risk versus return profile at 15-20m CMC.
Source: https://www.helius.dev/blog/solana-builders-ore-a-new-international-money
Aori is Now Live on Base
Bringing their latest Swap UI designed to make onchain swapping a more integrated & hassle-free experience
Source: https://x.com/aori_io/status/1820464056202940718?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Binance Labs Unveil Second Batch of Projects For the Season 7 of the Incubation Program
The projects are:
> Aarc
> FluxLayer
> TonTon Games
> The Binance Labs Incubation program is tailored to founders starting early-stage Web3 projects.
Source: https://x.com/binancelabs/status/1820474883417280713?s=52&t=txFAbiSPTdLLDlAYj9X_AA
August 4th~ Rollup
🐚 Research and Ideation 💡
- Joe McCann] Unveiling Macro Mysteries: Why the Fed's Policy is a Gamble
- Lazyvillager: What is the USD-YEN Carry Trade? Why an Unwind Matter?
- Arthur Hayes: Seems a TradFi Giant Got Smoked and is Dumping all Crypto
🐚 News 📕
- Japanese Stocks Have Plunged As traders brace for global volatility
Japanese Stocks Have Plunged in a Sell-Off that Echoed Across Asian Markets on Monday
traders brace for global volatility from weak US economic data
Source: https://x.com/FT/status/1820288769095799092
[Joe McCann] Unveiling Macro Mysteries: Why the Fed's Policy is a Gamble
“If the Fed allows “tight monetary policy” to continue (their words), they run the risk of severe employment issues and the hollowing out of small businesses”
“Once that is broken, history says it is tough to reverse. They run the risk of a hard landing”
Source: https://x.com/joemccann/status/1820182372190707858?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Galaxy: Exploring Bitcoin for Data Availability
“Dozens of rollups being “built on bitcoin” but only a small few will launch & survive on bitcoin”
> This report explains why bitcoin doesn’t have enough blockspace for all rollups and why the cost to post data will be too expensive for most of them
www.galaxy.com/insights/research/exploring-bitcoin-for-data-availability/
Source: https://x.com/intangiblecoins/status/1819356123247370448?s=46&t=ywALktyM5ZCyt-zigN5Big
August 3rd~ Rollup
🐚 Research and Ideation 💡
- OpenAI: LLM Critics Help Catch LLM Bugs (June, 2024)
- Joshcrnls.eth: Notes on Consumer Crypto | Aug 3, 2024
- Ethresearch: MagicSpend++ Spend Now, Debit Later
- [Vitalik] Review: Museums of the Future, Dubai and Tokyo
- Token Terminal: Post-TGE Price Performance of Tokens Backed by Paradigm
🐚 Project Updates 🔔
- AnyTool: The AI That Can Use Any Tool
LFG Introduction: dVIN ($VIN) - Tokenizing the $1T Wine Asset Class
dVIN is building the universal protocol for luxury and investment-grade wine on the blockchain.
> $VIN is the universal currency for dePIN & consumer data in the wine industry launching in September
Source: https://www.jupresear.ch/t/lfg-introduction-dvin-vin-tokenizing-the-1t-wine-asset-class/21030
[Vitalik] Review: Museums of the Future, Dubai and Tokyo
“The ideal museum of the future that I would want to see, is one that combines the boldness of the Dubai Museum of the Future's imagination, with the welcoming and inviting spirit that only something like the Miraikan (Tokyo) can bring.”
Source: https://vitalik.eth.limo/general/2024/08/03/museumfuture.html
Joshcrnls.eth: Notes on Consumer Crypto | Aug 3, 2024
The note covers:
> Farcaster marketing: whether Dan and team should be actively marketing the product beyond crypto
> Distribution is all that matters: Tactical things founders did to get distribution into their wedges
> Speculation is the wedge: Consumer crypto products having speculation & financialization at their core
> Make now meme: Launching a memecoin from a single tweet, and more
Source: joshcrnls.eth/aug-3" rel="nofollow">https://paragraph.xyz/@joshcrnls.eth/aug-3
August 2nd~ Rollup
🐚 Research and Ideation 💡
- Ethresearch: Inclusion List Timing Constraints
- ParaFi Capital: Exploring Polymarket’s Recent Activities & Growth
- Helius: Solana Builders — Ore: A New International Money
- kel xyz: A New International Money - $ORE v2
- Helius: Solana: How It Works - An Executive Overview of the Solana Protocol
- Jordan McKinney: EigenLayer Explained - 4th Paradigm in CryptoEconomic Capital Efficiency
- SXSW: The Singularity Is Nearer Featuring Ray Kurzweil (March, 2024)
- 0xPARC: Programmable Cryptography (Part 1) July 30, 2024
🐚 Project Updates 🔔
- Lido Launches “Lido Institutional”
- Skate: Introducing Polymarket on TON
Polymarket on TON –Enabled & Powered by Skate
Users just interact with the TG mini apps, executes an intent and the whole flow gets executed for him
> SKate’s CEO walk us through how seamless the UX will look like, the pilot application, and how the flows happened in the backend👇
Source: https://x.com/skate_chain/status/1819265829244211340
Jordan McKinney: EigenLayer Explained - 4th Paradigm in CryptoEconomic Capital Efficiency
This video explain why EigenLayer could be the fourth major paradigm in cryptoeconomic capital efficiency, with Bitcoin being the first, followed by Ethereum, and Roll-Ups being the third
Source: https://www.youtube.com/watch?v=iMFscq9Sxdk
kel xyz: A New International Money - $ORE v2
Ore innovates at the cryptography level with DrillX, a new mining algorithm allowing anyone the ability to mine forever.
> With mining emissions extending to the 2060s or 2070s, Ore inflation will be steep upon v2 launch
Source: https://x.com/kelxyz_/status/1819423315158561055
ParaFi Capital: Exploring Polymarket’s Recent Growth
With the 2024 U.S. election nearing, Polymarket has seen $688 million in trading volume year to date and weekly active users grow ~14x from around 1,400 to 20,000+
This post explore:
> Factors driving Polymarket’s recent traction
> How much has Polymarket’s growth been influenced by the U.S. election?
Source: https://x.com/paraficapital/status/1819099827554181328