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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
Nansen Acquires Staking Firm Stakewithus
SWU is a non-custodial staking service provider with $80m+ staked by 30k+ users, 20+ chains
Nansen users can now analyze blockchain data & seamlessly stake their assets within one platform
> NSN Points Program is launching in 2025
Source: https://x.com/nansen_ai/status/1833460740214427780?s=52&t=txFAbiSPTdLLDlAYj9X_AA
September 9th~ Rollup
🐚 Research and Ideation 💡
- Ahboyash: How Project Founders Should Approach the Korean Market
- Galaxy Research: Ethereum L1 Protocol Revenue From L2s Almost Zero Since the Dencun Upgrade
- 512M Research: A Deep Dive into Defi.Money
- EigenLayer: The Five Categories Created by Eigenlayer and the Problems they Solve
- Jim Bianco: Spot BTC ETFs Update
- Hashed Emergent: Blockchain Economics: How Much Does it Cost to Run Your Own Chain?
- 0xArhat: Thesis on Chain Abstraction
- Tokensight Research: Restaking Protocols Infra Risk Framework
- Chain Abstraction Key Insights: All Things Chain Abstraction
- Suhail Kakar: Movement ELI5
- 0xboka: A Summary of How Morpho Works
- DefiLlama Shares New Product “LlamaFeed”
- Irvinxyz: Exploring SVM Rollups on Solana: Literature Review — Part 2
- Route 2 FI: Venture Capital: So You Want to Invest in Startups, Anon?
- 0xLouisT: The Deaf ETH L2 Debate: Why We're Missing the Real Issue
🐚 News 📕
- Apple Announces Iphone 16 with Apple Intelligence
🐚 Project Updates 🔔
- Friendtech Creators Walked Away with $44m as the Protocol Shut Down
- Particle Network’s Universal Accounts Are Going Live
- Eclipse Introduces $tETH: The First Unified Restaking Token (URT)
- Sky: Stars, Expanding Ecosystems Within Sky
Stars, Expanding Ecosystems Within Sky
Stars bring their own unique products, brands, communities, and governance tokens to life, establishing independent spaces within the broader Sky ecosystem.
> Spark is the first Star to come to life, while the launch of Star tokens is also approaching.
Source: https://x.com/SkyEcosystem/status/1833160471932797269
Irvinxyz: Exploring SVM Rollups on Solana: Literature Review — Part 2
A light introduction into consensus protocols
Source: https://x.com/irvinxyz/status/1832933182049505708
0xboka: A Summary of How Morpho Works
Morpho Labs consists of 2 parts:
> Morpho Vault: Enables entities to create permissionless vaults that support the liquidity of isolated markets
> Morpho Market: A decentralized, over-collateralized lending & borrowing protocol with (isolated) markets👇
Source: https://x.com/0xboka/status/1833113253112590645
All Things Chain Abstraction
Key insights, news, contents, and more
> Curated by Particle Network, SEDA, Socket, Agoric, Arcana, XION, Orb Labs
/channel/chainabstractions
0xArhat: Thesis on Chain Abstraction
The thesis here rests on two key assumptions:
> We’re likely going to see hundreds, if not thousands, of L1s and L2s coexisting on-chain.
> In the crypto space, user attention is everything. It drives demand and can shape behaviors.
Source: https://x.com/0xArhat/status/1832056454733586630
Jim Bianco: Spot BTC ETFs Update
tl:dr
> Inflows now outflows
> Holders have record losses
> Advisors <10% of holdings (boomers never came)
> Avg trade size now <$12k.
Source: https://x.com/biancoresearch/status/1832806831959458232
The Five Categories Created by Eigenlayer and the Problems they Solve
> Restaking
> LRT
> AVS
> Hyperscale rollups
> Apps with commitments
Source: https://x.com/eigenlayer/status/1832814706232324446
512M Research: A Deep Dive into Defi.Money
$MONEY is a USD-pegged stablecoin built on Optimism and arbitrum, based on Curve Finance crvUSD architecture.
> This piece analyzed this new stablecoin protocol and everything to know about $MONEY
Source: https://x.com/512M_AG/status/1833158907889582331
Friendtech Creators Walked Away with $44m as the Protocol Shut Down
Source: https://x.com/solidintel_x/status/1833129105228775715
Ahboyash: How Project Founders Should Approach the Korean Market
> Map out the local ecosystem and landscape
> Work with a local advisory firm
> Plan a localised marketing campaign
> Understand Korean retails
> Don’t take advantage of Korean trading volume just because it is high👇
Source: https://x.com/ahboyash/status/1833132888436691356?s=46&t=2q9OLMlaobNlHLewOXT4uA
Risc Zero: Designing High-Performance zkVMs
This article contextualizes what’s happening in the zkVM design space, a deep-dive into proof system design for zkVMs covering:
> A high-level overview of the proof system that underlies RISC Zero’s zkVM
> Their horizon for improving zkVM performance.
> A look at each layer of the proof system….
Source: https://risczero.com/blog/designing-high-performance-zkVMs
ArXiv: Building Scalable Decentralized Payment Systems (July 27, 2020)
This paper introduce a blockchain scaling solution that is both secure and decentralized in practice, and allows for greater transaction throughput than conventional blockchain systems deployed today.
https://arxiv.org/abs/1904.06441
Source: https://x.com/badcryptobitch/status/1832057683970760734
Helius: Is Solana’s Inflation Too High?
This article explored Solana’s inflation schedule and issuance from past, present, and future perspectives. It addresses the ongoing FUD and misinformation around Solana’s inflation schedule
Source: https://www.helius.dev/blog/solana-issuance-inflation-schedule
Ignas: The Current State of Crypto: Bearish or Bullish?
A snapshot of data points to understand where we really are. This post covers:
> Crypto fundraising trends
> ETF outflows
> Sectors that are booming
> Leverage in the market
> A key metric to follow for a bullish reversal
Source: https://www.ignasdefi.com/p/the-current-state-of-crypto-bearish
0xLouisT: The Deaf ETH L2 Debate - Why We're Missing the Real Issue
> Ethereum's L2 roadmap has succeeded in scaling, but this is only half the battle.
> Blaming L2s, the tech or even Vitalik for ETH's revenue and price action issues is misguided.
> The true challenge is attracting 100x the current users; without them, ETH risks losing relevance.
Source: https://x.com/0xLouisT/status/1833423627133333551
Route 2 FI: Venture Capital: So You Want to Invest in Startups, Anon?
Answering the following questions:
> How do you become a VC?
> How do you create a VC?
> How do you become a successful VC?
> What does it take to have an opportunity to invest in protocols and be at the forefront of the markets?
Source: route2fi/p-147666092" rel="nofollow">https://substack.com/@route2fi/p-147666092
DefiLlama Shares New Product “LlamaFeed”
a new homepage experience with all the stuff you might need, and also customizable
Source: https://x.com/0xngmi/status/1833085949779071363
Suhail Kakar: Movement ELI5
Source: https://x.com/suhailkakar/status/1833168125656789465
Tokensight Research: Restaking Protocols Infra Risk Framework
A foundational risk framework for assessing the infrastructure risks of restaking protocols. For this analysis, Tokensight considered: EigenLayer, Symbiotic, Babylon, Karak, Solayer, and Jito.
Source: tokensightxyz/restaking-prot-risk-framework" rel="nofollow">https://paragraph.xyz/@tokensightxyz/restaking-prot-risk-framework
Hashed Emergent: Blockchain Economics - How Much Does it Cost to Run Your Own Chain?
Launching a blockchain is becoming increasingly convenient due to improvements in its tech stack.
> This article explores these developments and their impact on the cost of running a blockchain.
Source: https://hashedem.substack.com/p/blockchain-economics-how-much-does?utm_campaign=post&utm_medium=web&triedRedirect=true
Eclipse Introduces $tETH: The First Unified Restaking Token (URT)
Combines the largest yield-generating protocols on Ethereum into one easy-to-use default yield token
Source: https://x.com/EclipseFND/status/1833143806478471448
Apple Announces Iphone 16 with Apple Intelligence
Source: https://x.com/financialjuice/status/1833207043429437940
Particle Network’s Universal Accounts Going Live
a public waitlist for Universal Accounts is now live
UA simplifies Web3 by unifying fragmented chains into a single, user-friendly experience
Source: https://x.com/ParticleNtwrk/status/1833145500041625834
Ethereum L1 Protocol Revenue From Layer 2s is Almost Zero Since the Dencun Upgrade
Source: https://x.com/glxyresearch/status/1832461143354306811/
September 7th~ Rollup
🐚 Research and Ideation 💡
- Kapursanat: ZK Mechanisms will Replace Cryptoeconomic Mechanisms
- Yash Agarwal: Ethereum VCs Have EBOLA for Infra
- Helius: Is Solana’s Inflation Too High?
- Artemis: How Many Stablecoin Dollars ACTUALLY Exist?
- ArXiv: Building Scalable Decentralized Payment Systems (July 27, 2020)
- 0xCrayon: Decentralized AI isn't Commercially Viable Without Privacy
- Risc Zero: Designing High-Performance zkVMs
0xCrayon: Decentralized AI isn't Commercially Viable Without Privacy
"If we want decentralized AI to actually make it in the real world then privacy needs to be more than a feature—it has to be at the foundation. Without it, companies won’t share their data, users won’t trust the system, and regulation will prevent any adoption to protect user data."
Source: https://x.com/nillionnetwork/status/1832483145314189607
Artemis: How Many Stablecoin Dollars ACTUALLY Exist?
A deep dive into accurately calculating stablecoin metrics at Artemis, highlighting nuances like:
> Bridged vs. Pre-minted vs Circulating supply
> ERC and Non-ERC Token Supply of DAI
> Genesis Stablecoin Supply
> Celo’s Unique Stablecoin Features
Source: https://research.artemis.xyz/p/how-many-stablecoin-dollars-exist
Agarwal: Ethereum VCs Have EBOLA for Infra
EBOLA (EVM Bags Over Logic Affliction) is a disease affecting Ethereum VCs — a structural problem, particularly for big ‘Tier-1’ VCs.
Tldr;
> Stop listening to VCs for forced Infra Narrative.
> Time for Liquid Funds to Thrive.
> Build for Consumers. Embrace Speculation
> Solana is the best place to experiment due to low startup costs.
Source: https://yashhsm.medium.com/ethereum-vcs-have-ebola-for-infra-a6bacc0cd14c