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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
Syndica: Deep Dive: Solana DeFi - July 2024
> Locked SOL is at 2x its previous ATH.
> Memecoin trading still dominates DEXes.
> PYUSD rapidly gaining adoption.
> Jupiter Perps and FlashTrade hit new ATHs
> For the first time ever, Solana's spot DEX volume has surpassed Ethereum's two months in a row.
> DEX volume hit $70B in July, the second-largest finish of the year👇
Source: https://blog.syndica.io/deep-dive-solana-defi-july-2024/
Tether's USDT on Tron DAO is Over 10x Bigger than MakerDAO's DAI on Ethereum
Source: https://x.com/tokenterminal/status/1826230701747835076
Vitalik: Plurality Philosophy in an Incredibly Oversized Nutshell
“The right way to think about Plurality is as an "intuition pump" for ideas for designing social mechanisms to better preserve freedom of individuals and communities, enable large-scale collaboration, and minimize polarization”
> The most natural place to apply Plurality ideas is social settings that are already facing the problem of how to improve collaboration between diverse and interacting tribes while avoiding centralization and protecting participants' autonomy
Source: https://vitalik.eth.limo/general/2024/08/21/plurality.html
August 20th~ Rollup
🐚 Research and Ideation 💡
- Flip Research: ETH - Where Do We Stand?
- Gauntlet: Morpho Vault Curation Strategy
- Intents Market Data
- Eigenphi: Metamorphosis of Jaredfromsubway.eth: Cunninger Jared 2.0 with More Layers
- Decentralized Co Podcast: On The Evolution of VC in Web3 with Tomasz Tunguz
- SojuDAO: Exploring Seoul: Ultimate Guide to Discovering Korea Beyond KBW
- 1K(x): Trustless Interoperability between Rollups: Landscape, Constructions, and Challenges
- ChainEye Research: Drift Protocol BET: A Solana Prediction Market to Challenge Polymarket
- Rise Chain: Discussing PEVM and RISE at the Paradigm Frontiers Event in SF
- Vaibhavchellani: Thoughts on the ERC-7683 Proposal Put forth by Uniswap & Across
- Empire: Building the Perfect Crypto Ecosystem in 2024
- Fernando Molina: Dune Dashboard for Polymarket Data Markets
- Blockworks Research: Crypto and AI - A Liquid Market Overview
🐚 News 📕
- The SEC Rejected Cboe’s 19b-4 Filings for Solana ETF
🐚 Project Updates 🔔
- Binance Labs Invests in Corn to Simplify Bitcoin’s Use in Decentralized Finance
- Corn: The Super Yield Network Rooted In Digital Gold
- Base Introduces ENS Subnames for Users, Plans Fair Launch via Dutch Auction
- Galxe Launches Alpha Mainnet of its Layer 1 Gravity Chain
- Clearpool Develops Caldera-Powered Layer 2 Chain Within Optimism Ecosystem
- Binance Introduces Dogs (DOGS) on Launchpool
🐚 Raises 💰
- Corn Raises $6.7M Seed Round Led by Polychain
Dune Dashboard for Polymarket Data Markets
This dashboard has volume and user/address data grouped by events and markets/answers.
dune.com/fergmolina/polymarket-markets-data
Source: https://x.com/fergmolina/status/1826005828249465054?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Vaibhavchellani: Thoughts on the ERC-7683 Proposal Put forth by Uniswap & Across
highlighting a few important problems:
> Goal of making it easy for fillers is not fulfilled
> Fulfillment flow is non standardised
> The standard order is application specific
Source: https://ethereum-magicians.org/t/erc-7683-cross-chain-intents-standard/19619/23
ChainEye Research: Drift Protocol BET: A Solana Prediction Market to Challenge Polymarket
Thanks to Polymarket’s first mover advantage, they have monopolized prediction markets so far, with little to no competition. However, this piece discuss several factors that could make Drift the perfect duelist to challenge Polymarket's dominance👇
Source: https://x.com/Chain_Eye/status/1825849138849661174
Exploring Seoul: Ultimate Guide to Discovering Korea Beyond Korea Blockchain Week (KBW)
Source: https://x.com/cryptosmiff/status/1825718369380872550?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Metamorphosis of Jaredfromsubway.eth: Cunninger Jared 2.0 with More Layers
The old Jared bot is dead. Here comes the Jared 2.0: new bot, new recipes, and new flavors.
Jared's old bot has ceased operation since Aug 14, while the rising new bot has been flooring it, cooking 40K sandwiches in 2 weeks while generating 765 ETH, worth $2M, builder rewards👇
Source: Tweet | https://eigenphi.substack.com/p/jared-2-cunninger-sandwiches
Gauntlet: Morpho Vault Curation Strategy
This piece covers:
> Morpho Vault Structure
> Market Allocation Strategy
> Strategic Adjustments
Source: https://x.com/gauntlet_xyz/status/1825542306319020205?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Flip Research: ETH - Where Do We Stand?
> While ETH has 10x the TVL of its nearest competitor, and also found killer apps this year like Polymarket
> On the other hand, ETH’s PMF is diminishing, L2s becoming increasingly fragmented
> This piece summarize both the bull and bear theses of ETH, with compelling arguments on each side👇
Source: https://x.com/flip_research/status/1825839747282894884?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Corn Raises $6.7M Seed Round Led by Polychain
with support from Binance Labs and others
Corn, a new Ethereum (ETH) Layer-2 network that uses its hybrid tokenized Bitcoin (BTCN) as gas and redirects network yield back to users and protocols
> Its BTCN is backed 1:1 by native BTC, and not bound to a single centralized custodian
Source: https://x.com/use_corn/status/1825897643824001153?s=46&t=ljigofiE3aQ-CkLKM6u7NQ
SEC Rejected Cboe’s 19b-4 Filings for Solana ETF
Source: https://x.com/TheBlock__/status/1825816725058658376
0xCygaar: How L2 Actually Works
> L2s save gas costs by moving tx processing offchain, and instead submit tx data to the L1
> L2s derive their final ordering from the ordering of the L1
> L2s submit proofs to the L1 to allow funds to be withdrawn from the L2 bridge
Source: https://x.com/0xcygaar/status/1825603946939035735
Anoma: Intents from the Resource Model Perspective
Intents = preferences + constraints
> Constraints are hard requirements that have to be fulfilled for the intent to be considered satisfied
> Preferences are soft requirements that don't *have* to be satisfied but offer information on how nice the proposed solution is
https://anoma.net/blog/intents-rm#conclusion
Source: https://x.com/vveiln/status/1826282142592340463
Understanding Kamino - The Liquidity Layer of Solana
Kamino is firmly established as the most trusted lending protocol in Solana, with the largest liquidity and user base, the widest feature set, and the most sophisticated risk management.
> This piece aims to provide a good overview of what they are doing, where it is heading, and why it is a project worth keeping an eye on.
Source: https://x.com/alpha_pls/status/1825935825126740147?s=46&t=ywALktyM5ZCyt-zigN5Big
Ton Challenges: Apple Restrictions and Possible Blocking in Russia
> Apple has threatened to remove Telegram from the App Store if integration with TON chain continues
> On the other hand, there is also possible blocking from Russia
> Most of the TON community is in Russia, and second, Russia blocks "undesirable" social networks.
> This week there have already been two cases when Telegram was inaccessible without VPN.
> In addition, it was reported that Putin refused to meet with Durov in Azerbaijan
> If TG is banned in Russia, the audience will decrease, activity in the TON ecosystem will decrease
> As a result, TON will not be in demand in either Russia or America.
> These will hit the value of $TON, and when millions of TON are unlocked, there’ll be no one to sell them
Source: Investment kingyru
Blockworks Research: Crypto and AI - A Liquid Market Overview
The crypto-AI market appears overhyped in the short term, with most applications still in Beta or without a product entirely.
> In the long run, this sector will likely produce critically important products that have an outsized impact on greater society👇
Source: https://x.com/blockworksres/status/1825940160422535218?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Empire: Building the Perfect Crypto Ecosystem in 2024 with Keone (Monad) & Smokeythebera
Discussion:
> Berachain & Monad growth strategy
> Balancing technical innovation & user adoption
> Role of tokenomics & price
> Lessons learned from Solana & Eth
Source: https://www.youtube.com/watch?v=2JqxvHIATEE
Rise Chain Discusses PEVM and RISE at the Paradigm Frontiers Event in SF
They covered:
> Challenges of Parallel Execution
> Block STM as the Solution
> Parallel Dapps
> Reth Integration
> Gigagas Benchmark & More.
Source: https://x.com/rise_chain/status/1825372912167297397?s=52&t=txFAbiSPTdLLDlAYj9X_AA
1K(x): Trustless Interoperability between Rollups: Landscape, Constructions, and Challenges
This article survey the trustless interoperability landscape by defining and discussing six levels of interoperability solutions between fragmented rollup ecosystems:
> L1 Asynchronous
> Atomic Inclusion
> Shared Settlement
> Atomic Execution
> Block-Level Composability
> Transaction-Level Composability
Source: https://mirror.xyz/1kx.eth/pGddypDmRnIRwPjXHTpynVLpC2suidgl48ziwgT7To4
Decentralized Co Podcast: On The Evolution of VC in Web3 with Tomasz Tunguz
Tomasz - General partner at Theory VC
> He draws parallels between the growth of private equity, venture capital, and Web3. Tomasz predicts that Web3 will follow a similar path👇
Source: https://www.decentralised.co/p/ep-18-on-the-evolution-of-vc-in-web3?r=aaog1&utm_medium=ios&triedRedirect=true
Binance Introduces Dogs (DOGS) on Launchpool
Trade starting at 2024-08-26 12:00 (UTC).
Source: https://www.binance.com/en/support/announcement/introducing-dogs-dogs-on-binance-launchpool-farm-dogs-by-staking-bnb-and-fdusd-fc967d5825774984829b96943a42fadf?hl=en
Clearpool Develops Caldera-Powered Layer 2 Chain Within Optimism Ecosystem
“Ozean” is based on OP Stack and developed using Caldera’s rollup-as-a-service platform
Source: https://www.theblock.co/post/312024/clearpool-develops-caldera-powered-layer-2-chain-within-optimism-ecosystem
Galxe Launches Alpha Mainnet of its Layer 1 Gravity Chain
All of Galxe’s products will now be brought on-chain with the launch
Source: https://www.theblock.co/post/311762/galxe-launches-alpha-mainnet-of-its-layer-1-gravity-chain
Base Introduces ENS Subnames for Users, Plans Fair Launch via Dutch Auction
Source: https://www.theblock.co/post/311986/base-introduces-ens-subnames-for-users-plans-fair-launch-via-dutch-auction
Binance Labs Invests in Corn to Simplify Bitcoin’s Use in Decentralized Finance
Corn is an Ethereum Layer 2 network focused on establishing a DeFi hub for Bitcoin.
Source: https://www.binance.com/en/blog/ecosystem/binance-labs-invests-in-corn-to-simplify-bitcoins-use-in-decentralized-finance-434033995593822840?hl=en
August 19th~ Rollup
🐚 Research and Ideation 💡
- Four Pillars: Particle Network - Protocol That Has Always Been [Abstracting] the User Experience
- ZachXBT: A Suspicious Transfer Was Made from a Potential Victim for 4064 BTC ($238M)
- 100y: The Road to PBS: MEV-Boost++, Optimistic Relays, and TEE-Boost
- NFT Nate: Interview of a Memecoin Rugger, Inner Mechanism
- Arthur_0x: Aave, the Core Pillar of Decentralized Finance and Onchain Economy
- Puffpaw: Vaping Reimagined: How Puffpaw Are Blending Berachain with Wellness
- Growthepie: Over 50% of Active L2 Addresses Are on Base
- 0xCygaar: How L2 Actually Works
- Ahkek4: 2024 Top Tier Fund Investment Performance Dashboard
🐚 News 📕
- Kamala Likely to Nominate Gary Gensler as Treasury Secretary if Elected: Senate Sources
🐚 Project Updates 🔔
- INFINIT: The DeFi Abstraction Layer
- Drift Introduces BET - The First Capital-Efficient Prediction Market on Solana
- Coinbase Adds NEAR, AERO, VET, VTHO, and PYUSD (ERC-20) for NY Residents
- Aori Partners with Theo Network to Bring Permissionless Liquidity Everywhere
- gmAI Introduces gmdotfun (Coming Soon)
🐚 Raises 💰
- Fabric Cryptography Raises $33M in Series A Funding
2024 Top Tier Fund Investment Performance Dashboard
DeFi is the primary focus of VC investment this year, followed by blockchain infrastructure and GameFi
https://dune.com/ahkek/vc-fund-performance
Source: https://x.com/ahkek4/status/1825566788295544850?s=12&t=2q9OLMlaobNlHLewOXT4uA