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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
Bitcoin Outperforming US Equities On a Risk-Adjusted Basis
This analysis shows BTC's performance exceeding both the S&P 500 & Nasdaq since the start of 2023
Source: https://x.com/coinbasetraders/status/1824495346355261769
Polymarket Bet as an NFT and Taking Out a Loan Against Your Position
Polymarket only enables you to trade positions on platform, but this could change if it leans into a "decentralized" model👇
Source: https://x.com/S4mmyEth/status/1824368305223651787
$AAVE Leading the Expectations for an Upcoming DeFi Wave
Great fundamentals + Umbrella update + new AAVEnomics = Just use AAVE
> Umbrella proposes a shift to a "seize and burn" model using aTokens
> One key component of the new AAVEnomics update is the Buy & Distribute program
> This program aims to create a sustainable reward system using Aave's excess revenue to purchase $AAVE tokens from the market and distribute them to stakers.👇
Source: https://x.com/ReveloIntel/status/1824418375440753103
Pavel Paramonov: Is Everything Really Moving Towards AppChains?
> Well, yes (there are some dapps that benefit from having their own chain more than staying on existing one)
> Well, no (there are other solutions suitable for dapp needs).
Source: https://x.com/paramonoww/status/1824430685295349912?s=46&t=2q9OLMlaobNlHLewOXT4uA
MakerDAO Stops New WBTC-Backed Loans Following its BitGo Concerns
MakerDAO contributors approved a proposal to halt new borrowing against BitGo’s wrapped bitcoin.
Source: https://www.theblock.co/post/311480/makerdao-stops-new-wbtc-backed-loans-following-its-bitgo-concerns
Lazyvillager1: Funding Rates and Why they Are Not what They Seem
Real funding on BTC and ETH today are closer to being 60%-70%
This funding discrepancy exists because of:
> The natural inclination for positive yield / contango where levered longs pay levered shorts
> The introduction of Ethana and presence of delta-neutral trades
> While the funding rate is lower and capacity is higher in the system, people can feel like they can go longer with more size
Source: https://x.com/lazyvillager1/status/1813445475002933665
Stanford ECON295/CS323 I 2024: The Age of AI, Eric Schmidt [Reupload]
“In the next year, you're going to see very large context windows, agents, and text action. When they are delivered at scale, it's going to have an impact on the world that no one understands yet, much bigger than the horrific impact we've had by social media, in my view. So, here's why...."
Source: https://x.com/quasa0/status/1823933017217482883?s=52&t=txFAbiSPTdLLDlAYj9X_AA
EigenLayer: Community Update on What Happened, Why it happened, and Steps Taken
“We have no knowledge or evidence of any employee at Eigen Labs pressuring any team to unduly benefit the Eigen Labs corporate entity or its employees.”
Source: https://x.com/eigenlayer/status/1824175022308724749
Ryan Yi: Experience with a Targeted Crypto Account Takeover & SIM Swap Attack
reminding folks to stay on top of their OpSec
“Do not attach any mobile number or related 2FA apps as they can be breached for Coinbase or related emails. Opt for Yubikey 2FA”👇
Source: https://x.com/yiryan/status/1824133957908304179
Toliman: First Public SUAVE Testnet
With Toliman you can build entirely new intent systems, auctions, AI agents, and more as a coprocessor to the Etheruem block production process
https://collective.flashbots.net/t/announcing-our-new-suave-testnet-toliman/3770
Source: https://x.com/DistributedMarz/status/1824129714581020855?t=cnykCYbEayIYIy72JcsHdg&s=19
Pink Brains: Top Liquid Restaking Protocols Primed for Rewards and Airdrops
Source: https://x.com/pinkbrains_io/status/1824038352309678500?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Four Pillars | Opinion: The Reason Why LPs Lose More Money Than You Think
“the entity causing losses to LPs is none other than external parties such as arbitrageurs”
> “As value generated in the protocol continuously get extracted by external entities, the value that goes to participants contributing to the protocol's operation decreases”👇
Source: https://x.com/FourPillarsFP/status/1824023279679721660
Delphi Digital: AI x Crypto (Part 1) - The Tower & the Square
A layman’s exploration into the AI value-chain
Will the future be ruled by colossal models from a few tech giants, or will millions of diverse open-source models thrive? A global neural network? A hivemind👇
Source: https://members.delphidigital.io/reports/the-tower-the-square?utm_source=twitter&utm_medium=social&utm_campaign=T%26SUnlock#the-tower---the-square-5346
Sonic SVM Partners with Solayer
With Solayer enabling blockspace prioritization for Sonic AVS, Sonic is set to elevate Web3 gaming on Solana with enhanced stability and performance.
Source: https://x.com/sonicsvm/status/1823899695225172115?s=52&t=txFAbiSPTdLLDlAYj9X_AA
$1.3 Trillion Asset Manager, Morgan Stanley, Discloses $187 Million Bitcoin ETF Holdings
Source: Watcher Guru
GammaSwap $GS TGE Set for August 30th
> The total supply for GS tokens is 1.6B
> Airdrop (2%) — Airdrop to point holders in GS.
> LBP planned for Aug 30th, airdrop follows after
> The vest period has been reduced to 30 days for escrowed GS when it launches👇
Source: https://x.com/GammaSwapLabs/status/1824479820224319825
Franklin Templeton: Blockchain and AI - A Path to Transparency, Trust, and Decentralization
Blockchain technology addresses many of the challenges Al faces, particularly those related to transparency and trust.
> Using cryptographic methods, blockchain ensures the accuracy and immutability of recorded transactions.
> When integrated with Al, blockchain can track and authenticate the sources of information used by Al systems👇
Source: https://x.com/FTI_DA/status/1824480252879360307
Aave to Propose Onboarding TBTC in Response to Concerns About Latest WBTC Custodial Changes
TBTC is an alternative tokenized version of BTC
Source: https://x.com/laurashin/status/1824221847547682921?s=52&t=txFAbiSPTdLLDlAYj9X_AA
August 15th~ Rollup
🐚 Research and Ideation 💡
- Four Pillars | Opinion: The Reason Why LPs Lose More Money Than You Think
- ZachXbt: How North Korean IT Workers Exploited Fake Identities to Steal $1.3M in Treasury Funds
- Pink Brains: Top Liquid Restaking Protocols Primed for Rewards and Airdrops
- Ryan Yi: Experience with a Targeted Crypto Account Takeover & SIM Swap Attack
- EigenLayer: Community Update Addressing Coindesk Report on Eigen Labs
- CowSwap: Batch Auctions vs. Dutch Auctions in Crypto
- Stanford ECON295/CS323 I 2024: The Age of AI, Eric Schmidt [Reupload]
- 0xngmi: Tracking Dexscreener Fees on Defillama
- Lazyvillager1: Funding Rates and Why they Are Not what They Seem
- Lazyvillager1: Follow-up Around Concerns on Structural Integrity Supporting $USDE (Ethena Labs)
🐚 Project Updates 🔔
- Binance Labs Invests in MyShell Through Binance Labs Incubation Season 6
- Toliman: First Public SUAVE Testnet
- Allora x Oraichain: Advancing Accessible and Reliable ML for Real-World Impact
Lazyvillager1: Follow-up Around Concerns on Structural Integrity Supporting $USDE (Ethena Labs)
> The structural fears around $USDE are overblown and misunderstood.
> The platform is well-collateralized, and existential risk is near-zero due to prudent mgt of short positions
> Negative funding rates may even present upside potential, as a forced unwinding could inflate pricing rather than trigger a cascade.
> The original depositor does not have to sell the spot collateral once re-distributed from protocol
Source: https://x.com/lazyvillager1/status/1824256084430791060
0xngmi: Tracking Dexscreener Fees on Defillama
They're making 150-250k/day by charging 300$ per token to add information like tg link and picture
https://defillama.com/fees/dex-screener
Source: https://x.com/0xngmi/status/1824185697084801309
CowSwap: Batch Auctions vs. Dutch Auctions in Crypto
While Dutch auctions rely on a price-decay bidding process, batch auctions encourage solvers to find the best execution route for each trade
> This piece examine the shortcomings of AMM, and also compare and contrast two popular auction solutions— Dutch auctions and batch auctions.
Source: https://cow.fi/learn/batch-auctions-vs-dutch-auctions-in-crypto
Coindesk: Eigen Labs Drove Other Projects' Airdrops to Its Employees
Coindesk reported Eigen Labs circulated a list of its employees' wallet addresses to ecosystem projects that were preparing to airdrop tokens.
Source: https://x.com/CoinDesk/status/1824067033350258815
Allora x Oraichain: Advancing Accessible and Reliable ML for Real-World Impact
This collaboration aims to develop and enhance specialized AI models to meet real business needs, backed by a $200K Request for Model Program
Source: https://blog.orai.io/allora-x-oraichain-advancing-accessible-and-reliable-ml-for-real-world-impact-fbcbee5ebb59
Binance Labs Invests in MyShell Through Binance Labs Incubation Season 6 to Scale Open Ecosystem for AI Creators
MyShell is a decentralized AI consumer ecosystem that allows everyone to build, share & own AI Apps
Source: https://www.binance.com/en/blog/ecosystem/binance-labs-invests-in-myshell-through-binance-labs-incubation-season-6-to-scale-open-ecosystem-for-ai-creators-9217491831218949514?hl=en
ZachXbt: How North Korean IT Workers Exploited Fake Identities to Steal $1.3M in Treasury Funds
The laundering path for the incident:
> Transfer $1.3M to theft address
> Bridge $1.3M from Sol to Eth via deBridge
> Deposit 50.2 ETH to Tornado
> Transfer 16.5 ETH to two exchanges
Source: https://x.com/zachxbt/status/1824047425822310580?s=52&t=txFAbiSPTdLLDlAYj9X_AA
August 14th~ Rollup
🐚 Research and Ideation 💡
- Fisher8: What Is Fully Homomorphic Encryption (FHE) in Web3?
- Messari: DePIN Update with Dylan Bane
- Bitgo: WBTC Community Discussion Recap
- Jatsremski Podcast: Solana's Outperformance and the Emergence of Secular Winners
- Toni Wahrstätter: On Attestations, Block Propagation, and Timing Games
- Sami: Dispelling Bittensor FUD
- Particle Network: Conversations with a BERA
- Delphi Digital: AI x Crypto (Part 1) - The Tower & the Square
🐚 News 📕
- Apple: Developers Can Soon Offer In-App NFC Transactions Using the Secure Element
- Morgan Stanley Discloses $187 Million Bitcoin ETF Holdings
🐚 Project Updates 🔔
- dYdX Chain to Allow Users to List ‘Virtually Unlimited’ Markets in Upcoming Upgrade
- MetaMask Starts Rollout of Blockchain-Based Debit Card
- Bitcoin is Now Live on Symbiotic
- EigenLayer Introduces Permissionless Token Support (Coming Soon)
- MAGIC Coming Soon to EigenLayer
- Grass: Epoch 7 Has Ended. What's Next?
- Renzo Introduces $ezSOL: The first LRT on Jito
- Meteora x Moonshot: A New Meta for Memecoin Launchpads
- EtherFi Introduces Bitcoin LRT Vault
- DarkFi: World's First and Only Fully Anonymous On-Chain DAO
- Coinbase: AltLayer MACH Now Live on Coinbase’s EigenLayer Operator
- Sonic SVM Partners with Solayer
🐚 Raises 💰
- Sahara AI Raises $43M in a Series A Funding Round
Particle Network: Conversations with a BERA - Unraveling Chain Abstraction in the Berachain World
based on a Telegram interview with Berachain’s Ecosystem team in light of them joining the Chain Abstraction Coalition
Source: https://blog.particle.network/chain-abstraction-berachain/
Grass: Epoch 7 Has Ended. What's Next?
> A snapshot is being taken, and it will be used to determine eligibility in the upcoming airdrop.
> As a lead up into the airdrop, Grass has introduced a limited time Bonus Epoch, specifically designed to encourage users to download the new Desktop Node.
Source: https://x.com/getgrass_io/status/1823801038467404149?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Sami: Dispelling Bittensor FUD
He highlighted Bittensor’s lack of awareness is an issue that both the community and subnet teams need to tackle.
> Sami presented these slides at the 2024 DePIN Summit, which provide a high-level overview of Bittensor and highlight what the ecosystem has achieved so far 👇
Source: https://www.samikassab.com/p/dispelling-bittensor-fud