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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
Grayscale Launches New Crypto Investment Trusts for SUI and TAO
Source: https://www.theblock.co/post/309817/grayscale-launches-new-crypto-investment-trusts-for-sui-and-tao
Binance Labs Invests in Solayer to Drive the Solana Restaking Ecosystem Forward
Solayer aims to secure on-chain decentralized applications (dApps) with improved network bandwidth while securing the L1 at the same time
Source: https://x.com/BinanceLabs/status/1821200448281514251
August 6th~ Rollup
🐚 Research and Ideation 💡
- Ceteris: Returns Off Yesterday's Bottom
- Jito: Restaking on Solana - A New Chapter
- Bagel: RAG vs Finetuning
- Flashbots: How to Get Rid of MEV-Boost Relays: TEE-Boost
- Christian Catalini x Jane Wu: The Race to Dominate Stablecoins
- ASXN: The Yen Carry Trade & Its Consequences
- Tarun Chitra: How Much Should You Pay for Restaking Security?
- Flashbots: Catch up Flasbots events at EthCC 2024
- Three Sigmal: Decoding Points Programs -The New Economic Incentives in Crypto
- Arthur Hayes Discuss $JPY strength, How it could destroy the fiat financial system, and more
- Bianco Research: Economy In Peril? Why Unemployment Is Soaring; Fed To Cause More Damage
- Vitalik: Summary of Ethereum Block-Building Research as of 2024-08-07
🐚 News 📕
- Trump’s Son, Eric Trump, Revealed He Has Fallen in Love with Crypto/DeFi
🐚 Project Updates 🔔
- Coinbase Will Add Support for Gravity (G) on the Ethereum Network
- Y2K Rebrands to Fractality: The New Gateway to Superior Yields
- Rollchains Introduces Upgrades As a Service
🐚 Raises 💰
- DAWN Raises $18 Million Led by Dragonfly Capital
Vitalik: Summary of Ethereum Block-Building Research as of 2024-08-07
> Everyone agrees having multiple actors contribute txs that must be included in the block is a good idea
> Open debate on whether avoiding a "last mover" is possible
Source: https://x.com/vitalikbuterin/status/1820993698106368166?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Arthur Hayes: Spirited Away
He discussed how $JPY strength could destroy the fiat financial system, and why Yellen might be instructed to print money
> He revealed the last thing Kamala need on election day is a raging global financial crisis.
> A financial crisis sparked by the unwinding of Japan Inc.'s monster yen carry trade
> Kamala could instruct US Treasury Secretary Yellen to fix it with printed money.
> This yen carry trade unwind could collapse the entire global financial system
> Yellen will likely swing into action no later than the opening of Asian trading next Monday, Aug 12th.
Source: https://cryptohayes.substack.com/p/spirited-away?r=aaog1&utm_medium=ios&triedRedirect=true
Three Sigmal: Decoding Points Programs -The New Economic Incentives in Crypto
The use of points has now expanded from L1 and L2 solutions to wallets, bridges, and more Degen DeFi projects.
> Points have been responsible for the new era of liquidity mining rewards
> This piece provides a deep dive into 70+ DeFi protocols and how they implement their incentive programs
Source: https://x.com/threesigmaxyz/status/1820800644665483283
How Much Should You Pay for Restaking Security?
This research suggest that incentivized restaking protocols can be secure with proper incentive management. The paper suggest:
> LRTs need to allocate intelligently for network-wide security.
> AVSs need to choose a minimum yield/rewards that avoid cascade risk.
https://arxiv.org/pdf/2408.00928
Source: https://x.com/tarunchitra/status/1820836484070687024?s=52&t=txFAbiSPTdLLDlAYj9X_AA
ASXN: The Yen Carry Trade & Its Consequences
The Yen carry trade is where investors borrow Japanese Yen at Japan's low-interest rates and convert it into other currencies to invest in higher-yielding assets abroad. The specifics are:
> 11/06/24 – BoJ buys $36.8bn of Yen on order to push USDJPY down from 161.75 → 157.30
> BoJ also raised its policy rate from 0% - 0.1% toward 0.25% and proposed quantitative tightening
> This piece discuss the Yen Carry Trade & Its consequences on crypto market
Source: https://x.com/asxn_r/status/1820877001445540151
Y2K Rebrands to Fractality: The New Gateway to Superior Yields
Fractality allows users to deposit assets into a lending vault and receive a liquid receipt token (the Ftoken), which will be composable within DeFi.
Source: https://x.com/fractality_fi/status/1820870885114572903
Bagel: RAG vs Finetuning
> Fine-tuning offers high performance and domain-specific optimization but requires significant resources and is limited to specific tasks.
> RAG allows quick deployment and versatility but involves complex integration and generally lower performance.
> Understanding their differences and use cases of RAG and fine-tuning is the key to success 👇
Source: https://x.com/bagel_network/status/1820827076515025330
Jito: Restaking on Solana - A New Chapter
Jito (Re)staking leverages existing network security to support new applications and services, and improving stakers' capital efficiency and returns.
> This piece covers the history of the restaking landscape & introduces Jito (Re)staking platform
Source: Tweet | www.jito.network/blog/restaking-on-solana-the-new-chapter/
August 5th~ Rollup
🐚 Research and Ideation 💡
- Eric Balchunas: Bitcoin ETFs Have Traded About $2.5b So Far
- Ryan Watkins: Dark Periods are the Best Time to Lock In for Fundamentally Driven Investor
- Conor Ryder: How USDe Handled the Last 24Hrs
- Hashed Emergent: Evolution of Perpetual DEXs: Niche Trading Venues to On-Chain Adoption Drivers
- Coin98 Analytics: Performance of Tokens Listed on Binance YTD
🐚 News 📕
- The S&P 500 Erases $2.1 TRILLION of Market Cap at the Open
🐚 Project Updates 🔔
- Binance Labs Unveil Second Batch of Projects For the Season 7 of the Incubation Program
- Aori is Now Live on Base
- Zircuit Launches Initial Mainnet Phase, Rolls Out ZRC Token Airdrop Claims
- Eigen Core Team Twitter Hacked
🐚 Raises 💰
- Zoth Extends Raise to $4M to Bring $100M $ZTLN Onchain
VC 101: Everything you wanted to know about VC
Source: https://docs.google.com/presentation/d/1OFnZnddfhfjjLSWco8u8dkuQ2AsHJbglSa4mApX7BxQ/mobilepresent?slide=id.p
Hashed Emergent: The Evolution of Perpetual DEXs: Niche Trading Venues to On-Chain Adoption Drivers
Perpetuals have found a PMF within the crypto ecosystem for speculation & hedging, with vol on DEXs rising from $1Bn in Jul'21 to $120Bn in Jul'24
> By providing platforms for building iOS-like integrated experiences, perpetual DEXs have the potential to usher in the next era of crypto adoption
Source: https://hashedem.substack.com/p/the-evolution-of-perpetual-dexs-niche
🚨Warning: Eigen Core Team Twitter Hacked
⚠️ DONT CLICK LINKS
Michael Saylor Says He Personally Owns More Than $1B in Bitcoin: BBG
Source: https://velodata.app/news
Ethena USDe is Now Live on Solana
This allows Solana users to transact in USDe, as well as accrue Ethena's native rewards with sUSDe
> SOL onboarded as a backing asset for USDe, subject to governance’s implementation next week
Source: https://x.com/ethena_labs/status/1821185511563956569?s=52&t=txFAbiSPTdLLDlAYj9X_AA
DePIN Protocol, DAWN, Raises $18 Million Led by Dragonfly Capital
DAWN - a new project being developed by Andrena
Decentralized Autonomous Wireless Networks (DAWN) aims to transform the Internet from a provider-owned model to consumer-owned model
Source: https://x.com/dawninternet/status/1821155421006307342?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Economy In Peril? Why Unemployment Is Soaring; Fed To Cause More Damage
With Jim Bianco - President of Bianco Research
> He discussed the health of the labor market
> What's really driving the unemployment rate up to a 3-year high of 4.3%
> The Fed's next moves, the outlook for stocks and bond yields, and Bitcoin.
Source: https://www.youtube.com/watch?v=lzT0Wl_TZiI
Trump’s Son (Eric Trump) Revealed He Has Fallen in Love with Crypto/DeFi
“Stay tuned for a big announcement”
Source: https://x.com/erictrump/status/1820906993802211751?s=46&t=txFAbiSPTdLLDlAYj9X_AA
Flashbots at EthCC 2024
Catch up on all the Flashbots stuff from ETHcc, including TEEs, and more
Source: https://collective.flashbots.net/t/flashbots-at-ethcc-2024/3647
Rollchains Introduces Upgrades As a Service
Upgrades as a Service by Rollchains is designed to remove a blocker from your roadmap, take the pain out of upgrading your Interchain stack, and speed up your dev velocity – all at a fraction of the time and cost it would take teams internally.
Source: https://x.com/rollchains/status/1820859530340643014
The Race to Dominate Stablecoins - by Christian Catalini and Jane Wu
Stablecoins have the potential to rewire the global financial system and expose banking and finance to new digital competition.
> Now, there is intensifying competition among stablecoin issuers, prominent digital wallet providers, and traditional banks, each racing to establish their platform as the dominant
Source: https://hbr.org/2024/08/the-race-to-dominate-stablecoins
How to Get Rid of MEV-Boost Relays: TEE-Boost
TEE-Boost is a change to MEV-Boost that lets proposers disintermediate the relay and fetch blocks directly from builders running in Trusted Execution Environments (TEEs).
> A plan to reduce, and eventually remove, the role of the relay in MEV-Boost.
https://collective.flashbots.net/t/tee-boost/3741
Source: https://x.com/SheaKetsdever/status/1820830305260880278
Coinbase Will Add Support for Gravity (G) on the Ethereum Network
Galxe(GAL) Has Migrated their Token to Gravity (G)
Source: https://x.com/coinbaseassets/status/1820859634179010989?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Returns Off Yesterday's Bottom
Source: https://x.com/ceterispar1bus/status/1820837865875497188
Performance of Tokens Listed on Binance YTD
Since the beginning of 2024, 30 tokens has been listed on Binance
Source: https://x.com/Coin98Analytics/status/1820763411422032194
Zoth Extends Raise to $4M to Bring $100 Million RWA-Backed Tokenized Liquid Notes ($ZTLN) Onchain
Zoth aims to become a chain-agnostic crypto yield layer, providing institutional & accredited investors with access to secure financial products onchain.
Source: https://thedefiant.io/news/press-releases/zoth-extends-raise-to-4m-to-bring-100-million-rwa-backed-tokenized-liquid-notes-ztln-onchain
Conor Ryder: How USDe Handled the Last 24Hrs
“USDe and DeFi stay strong, tradfi crumbles”
> USDe handled almost $100m of redemptions while peg remained within ~30bps throughout
> stETH depegged ~2%
Source: https://x.com/conorryder/status/1820529438771359832?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Ryan Watkins: Dark Periods are the Best Time to Lock In for Fundamentally Driven Investor
Megatrends still emerging underneath the surface, rewarding who can sift through the noise greatly
Source: https://x.com/RyanWatkins_/status/1820478546088800269