-
Decentralized Capital Markets Research & Articles: www.shoal.gg Twitter: https://twitter.com/Shoalresearch TG link: https://t.me/shoalresearch Website: Shoalresearch.xyz
Stanley He: From Self-Sequencing to Preconfirmation
The emergence of based sequencing and preconfirmation (preconf) on Ethereum has seemingly been pushing the protocol further down the path that makes it less and less intuitive.
> This article shows why such a process is necessary, and how everything is actually driven by the “frontend” - even the protocol itself and the validators.
Source: https://lu-ban.notion.site/From-Self-sequencing-to-Preconfirmation-7fc4233f3a41430e91fcd778acea88d3
Detailed Thread on Prediction Markets
> What is prediction market?
> How It Started
> Current State of Prediction Markets, and more
Source: https://x.com/0xayushya/status/1833128628315443597?s=46&t=ywALktyM5ZCyt-zigN5Big
hotpot_dao: Why did Megaeth Abandon LUMA?
MegaEth uses Lemonade instead of LUMA
> To bring brand new experiences going to an event
> The only difference btw lemonade and luma is that you need to open an account when first sign in
Source: https://x.com/hotpot_dao/status/1833669203032932797?s=46&t=txFAbiSPTdLLDlAYj9X_AA
ENS Domains Now Supported by Paypal & Venmo
Source: https://x.com/ensdomains/status/1833536140529570039
Hyperliquid Continues to Dominate Perpetuals Volumes Across Crypto
Source: https://x.com/asxn_r/status/1833489272428499098
Greenfield: Statistical Arbitrage on AMMs and Block Building on Ethereum – Part 1
This post explains statistical arbitrage (stat arb) on Ethereum mainnet and how it relates to and impacts block building via mev-boost.
> Also explore the scope of the stat arb market and which parties win & dominate stat arb opportunities
Source: https://x.com/greenfield_cap/status/1833531879091323390
The Defiant: Aerodrome Finance - Redefining AMMs on Base with Alexander Cutler
Alex - Co-Founder of Aerodrome. He discussed:
> Story behind Aerodrome
> Combining the Best Features from DEX Models
> Strategic choice to focus on Ethereum L2s
> Partnership with Coinbase
> Aerodrome's tokenomics, and more
Source: https://x.com/DefiantNews/status/1833223733311361230
Metaplex: A Beautiful Cap Table Transition (or Why You Want Liquid Funds on Your Cap Table)
The post discusses Metaplex's journey after raising $46M from high-profile investors, many of whom later faced financial issues or sold off tokens, leading to a sharp drop in MPLX's value.
> How Its strong fundamentals and dominance in the Solana NFT space kept it going
Source: https://x.com/theiaresearch/status/1833216566823162279?s=52&t=txFAbiSPTdLLDlAYj9X_AA
EigenLayer Security Model: A Novel Approach to Operating and Securing Decentralized Services
This post describe how EigenLayer empowers AVSs to operate more efficiently and create economically aligned incentives using:
> Operator Sets
> Total Stake
> Unique Stake
www.blog.eigenlayer.xyz/introducing-the-eigenlayer-security-model/
Source: https://x.com/eigenlayer/status/1833550478120005965
Gauntlet: Curating SwissBorg Morpho USDC — Expanding Access to Risk-Adjusted Yield in DeFi
Built on MorphoLabs' permissionless, flexible, and secure DeFi lending stack, curated by Gauntlet, and plugged into the Swissborg USDC Earn product flow, the SwissBorg Morpho USDC vault provides a new avenue to access stablecoin yield in DeFi.
Source: https://x.com/gauntlet_xyz/status/1833492092816941502
Cremieux Recueil: High-Frequency Trading Is Good
“The simplest and most commonly cited benefit of HFT is the improvement to market liquidity and the reduction of bid-ask spreads, which lowers the costs paid by all market participants”
> This post defends High-Frequency Trading (HFT) against common criticisms, arguing that it provides significant benefits to financial markets
Source: https://www.cremieux.xyz/p/high-frequency-trading-is-good
Explore Nansen Staking
Source: https://stake.nansen.ai/explore
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
September 10th~ Rollup
🐚 Research and Ideation 💡
- Ignas: The Current State of Crypto: Bearish or Bullish?
- Cremieux Recueil: High-Frequency Trading Is Good
- ArXiv: Deanonymizing Ethereum Validators: The P2P Network Has a Privacy Issue
- Bagel: Machine Unlearning - AI Forgetting on Command
- Stacy Muur: 20 Awesome Newsletters to Follow in Web3
- Theiaresearch: Metaplex: A Beautiful Cap Table Transition
- defi_monk: Explaining What's Happening at Base
- The Defiant: Aerodrome Finance - Redefining AMMs on Base with Alexander Cutler
- jtriley.eth: Functional Changes of EOF
- Greenfield: Statistical Arbitrage on AMMs and Block Building on Ethereum – Part 1
- Multicoin: Thesis and Valuation on $DRIFT
- ASXN: Hyperliquid Continues to Dominate Perpetuals Volumes Across Crypto
- Marco Manoppo: What Happens When Every Token Gets Restaked?
- hotpot_dao: Why did Megaeth Abandon LUMA?
- Michaelhanono | Talus: On Intersection of AI and Blockchain
- 0xayushya: Detailed Thread on Prediction Markets
🐚 Project Updates 🔔
- Nansen Acquires Staking Firm Stakewithus
- Doppler: A Liquidity-Bootstrapping Hook Design On Top of Uniswap v4
- Gauntlet: Curating SwissBorg Morpho USDC
- EigenLayer Introduces Security Model
- Roblox Builds AI World Model
- ENS Domains Now Supported by Paypal & Venmo
Michaelhanono | Talus: On Intersection of AI and Blockchain
> AI needs trust, and Blockchain offers it.
> Blockchain needs intelligent systems to organize and act on data, which AI provides.
> Blockchain enables AI to thrive through tokenized incentives & decentralized computing
> AI can provide a better UX for blockchain by creating value out of the chaotic data gathered from it
Source: https://x.com/michaelhanono/status/1833297719416569893
Marco Manoppo: What Happens When Every Token Gets Restaked?
Tokens will compete to be used as restaked assets as the new derivative markets of rehypothecated restaked assets will benefit the tokens, giving them more widespread usability and perceived value.
> It’s never about economic security, but insurance, rehypothecation, and politics.
Source: https://x.com/ManoppoMarco/status/1833550785063596188
Roblox Builds AI World Model
Roblox is revolutionizing game development with its new generative AI tool, designed to create 3D environments from simple text prompts.
Source: https://www.perplexity.ai/page/roblox-builds-ai-world-model-X5KKxY.dQNSn1Ioe9lMYPg
Multicoin's Thesis and Valuation on $DRIFT
“Drift will be the Binance moment of derivatives DEXs. As the market begins to appreciate the elegance of Drift, we think their market share chart will look similar to Binance after they launched”
> “We think DRIFT is a compelling asset that possesses many of the attributes that encapsulate how a DeFi token can become valuable under the right design and circumstances”
Source: https://x.com/SpencerApplebau/status/1833578036496638050
jtriley.eth: Functional Changes of EOF
EOF - EVM Object Format offer significant improvements to the EVM, and consequently the static analysis and compiler infrastructure
> While most changes to the EVM won't be directly visible to engineers using high level languages, improvements to deployment cost, runtime cost, and bytecode size will be immediately visible while tooling and periphery improvements will follow.
Source: https://x.com/jtriley_eth/status/1833548628314767681
defi_monk: Explaining What's Happening at Base
Explaining misconceptions about the outstanding metrics surrounding their txns, wallets, volume etc.
There are three main things driving Base metrics:
> Down only gas fees
> AerodromeFi's slipstream pools
> Seamless Coinbase / Base on-ramping👇
Source: https://x.com/defi_monk/status/1833520001266987070
20 Awesome Newsletters to Follow in Web3
Featuring:
> TheDeFi Investor's Substack
> Ecoinometrics by Ecoinometrics
> Ignas DeFi Newsletter
> The Black Swan by Route 2 FI
> The Daily Bolt by Revelo Intel👇
Source: https://x.com/stacy_muur/status/1832753588952817812?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Bagel: Machine Unlearning - AI Forgetting on Command
A research on machine unlearning, where AI models can now selectively erase data on demand. Without the need for complete retraining.
Source: https://blog.bagel.net/p/machine-unlearning
Deanonymizing Ethereum Validators: The P2P Network Has a Privacy Issue
“Running an Ethereum validator node means that any minimally sophisticated party can link your IP address to your ETH addresses”
> This work present a simple and low-cost attack that allows a node in the network to deanonymize the validators associated with its peers.
https://arxiv.org/pdf/2409.04366
Source: https://x.com/Istvan_A_Seres/status/1833088906293592229
Doppler: A Liquidity-Bootstrapping Hook Design On Top of Uniswap v4
Doppler introduces a new primitive: a dutch-auction dynamic bonding curve - designed from first principles to reduce extractive MEV.
👉 Whitepaper
Source: https://x.com/AustinAdams10/status/1833505856056660026
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