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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 Aave Fund
“Grayscale Aave Trust gives investors exposure to a protocol with the potential to revolutionize traditional finance”
Source: https://www.coindesk.com/business/2024/10/03/grayscale-rolls-out-aave-fund/
October 2nd~ Rollup
🐚 Research and Ideation 💡
- Decentralised Co: Modular Markets for Lending
- Anza: An Architectural Overview Of Spherenet
- Four Pillars: New-Gen Layer1 Tokenomocis: Three Pillars for the Token Flywheel
- Ethresearch: On Solo Staking, Local Block Building and Blobs
- Arrakis Finance: Why We Need to Fix DeFi: Addressing the CVMM Problem
- Quinn Thompson: Some Thoughts After Today's Israel/Iran Events
- 0xryzzu: Deep Dive Into MovementLabs
- Stevenshi_: Eigenlayer - the Market for Lemons
- karl_0x: $EIGEN True Float
- GammaSwap: First Order Hedging vs Second Order Hedging: Mitigating LVR/IL via a Hook
- Zama: Encrypted DNA Testing Using Fully Homomorphic Encryption
- Four Pillars: Chain Abstracted Trading Experience and What Lies Ahead
- WhatTheLJW: Reputation in the Age of AI
- Byzantine: DVT and Restaking
- Michael Mignano: Magic Market Fit
- Cyber Fund | Tech Tree: Crypto x AI
- Union Research on Intent Bridging
🐚 Project Updates 🔔
- LayerZero x EigenLayer: The CryptoEconomic DVN Framework
- Kinto introduces Musubi - Chainless Swaps
- Jito x Helius: Node Operator Partnership
- OP Succinct Now On Conduit
Cyber Fund | Tech Tree: Crypto x AI
The article explores advancements in decentralized AI, highlighting:
> Privacy-preserving techniques for RAG systems
> Improved context memory for LLMs
> Prompt lifecycle management
> Synthetic data for reasoning
> Communication-efficient training
> Proof of Inference in ensuring model integrity
Source: https://cyber.fund/content/crypo-ai-tech-tree
OP Succinct Now On Conduit
OP Stack chains on Conduit can now have fast finality and ZK proofs, withdraw to Ethereum in minutes – no more 7-day delay.
Source: https://x.com/conduitxyz/status/1841511037490655367
WhatTheLJW: Reputation in the Age of AI
Reputation is a store of value, but must be built on top of blockchain systems in the age of AI
Source: https://x.com/whattheljw/status/1841509876318544253?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Four Pillars: Chain Abstracted Trading Experience and What Lies Ahead
The ultimate goal of Chain Abstraction is to provide a "one wallet, one asset" experience, enabling interaction with any dapp on any blockchain
> This piece examines two current approaches possible to achieve this in terms of trading, and some advancements and challenges in this "Omnichain Trading Experience."
Source: https://x.com/fourpillarsfp/status/1841437934232473808?s=52&t=txFAbiSPTdLLDlAYj9X_AA
GammaSwap: First Order Hedging vs Second Order Hedging - Mitigating LVR/IL via a Hook
The first LVR/IL hook is leveraging Morpho and GammaSwap to provide reduced risk exposure and stable returns for LPs.
> Why does the hook need both Morpho and GammaSwap to hedge exposure?👇
Source: https://x.com/gammaswaplabs/status/1841501158369579115?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Kinto introduces Musubi - Chainless Swaps
Swap assets across Ethereum with your fingerprint without leaving your Kinto-insured wallet.
> Musubi unties fragmented liquidity and unite Ethereum
Source: https://x.com/ramonrecuero/status/1841472513618190787?s=52&t=txFAbiSPTdLLDlAYj9X_AA
LayerZero x EigenLayer: The CryptoEconomic DVN Framework
LayerZero Labs, in partnership with Eigen Labs, is introducing a framework for CryptoEconomic Decentralized Verifier Networks (DVNs).
> This framework brings cryptoeconomic security to omnichain messaging, ensuring that verifiers are not only technically sound but also financially incentivized to act honestly.
Source: https://medium.com/layerzero-official/layerzero-x-eigenlayer-the-cryptoeconomic-dvn-framework-68af27ca2040
Quinn Thompson: Some Thoughts After Today's Israel/Iran Events
He revealed the escalating Israel-Iran conflict is closely tied to the upcoming U.S. election, with Israel favoring Trump for stronger national security and economic ties, while Iran opposes him due to the economic hardships under his presidency👇
Source: https://x.com/qthomp/status/1841294606538821760?s=46&t=nluSw7cwYGx8zFxfoYi5Iw
Ethresearch: On Solo Staking, Local Block Building and Blobs
This piece aim to provide additional data points to help the community make an informed decision on whether we want to pursue a blob throughput increase in Pectra.
> However, this highlights an important point: solo staking doesn’t necessarily mean local block building.
https://ethresear.ch/t/on-solo-staking-local-block-building-and-blobs/20540
Source: https://x.com/nero_eth/status/1841469278412791998?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Anza: An Architectural Overview Of Spherenet
Spherenet is a private and permissioned SVM shared account ledger for fintech
It aims to bridge the gap btw legacy cross-border payments infrastructure & modern advancements in distributed systems, cryptography, and hardware
> This article explore the architecture of how Spherenet leverages Solana SVM.
Source: https://x.com/anza_xyz/status/1841487008965009553?s=52&t=txFAbiSPTdLLDlAYj9X_AA
October 1st~ Rollup
🐚 Research and Ideation 💡
- 0xBreadguy: WTF is Data Availability?
- Messari: Understanding Rootstock
- Variant: A Practical Guide to Geofencing
- Tiger Research: Asian Web3 Market Trends
- SoorajKSaju: This Cycle, We Are Entering the Era of 3rd Generation Smart Contract Platforms
- Vitalik Supports Hezbollah Betting Markets as Middle East Braces for War
- Auditless Research: Uniswap v4 is the Sanctum of Restaking
- Kairos Research: Inside the Financial Transformation of EtherFi, Aave, Maker, & Lido
- Archetype | Hersh Patel: Opacity
- Blockworks | Metaplex Update: Product Expansion & Fully Diluted
🐚 News 📕
- Bitwise Files for XRP ETF
🐚 Project Updates 🔔
- Eigen Foundation Announces the Unlocking of the EIGEN Token
- 23andme Data DAO Launches on Vana
- Coinbase Has Added ionet (IO) and Degen (DEGEN) to Roadmap
- Valantis: The Hybrid Order Type Automated Market Maker (HOT-AMM)
- Open NotebookLM: Turn PDF into a Personalized Podcast
Archetype | Hersh Patel: Opacity
Hersh Patel, Co-founder of Opacity, explained why the web’s current lack of verifiability is such a problem and why zkTLS could be the solution.
Source: https://www.youtube.com/watch?app=desktop&feature=shared&v=C8_Ii_rGl1A
Open NotebookLM: Turn PDF into a Personalized Podcast
Built with:
> MyShell's MeloTTS
> AI at Meta's llama 3.1 405B
> Gradio app
Source: https://x.com/myshell_ai/status/1841143416803266565?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Virtual Protocol Presents Project Westworld: The First Playable Autonomous World on Roblox
Project Westworld enable them observe autonomous behaviour leading to emergent storylines.
Source: https://x.com/virtuals_io/status/1840739008479133802?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Union Research on Intent Bridging
> Intents bridging on Union leads to faster transfer times, offering users a near-instant transfer experience.
> Intents bridging enable the transfer of non-native Union assets, also known as foreign assets.
> Builders can leverage Union’s intents bridging to design and implement their own intent-based protocols within the Union network.
Source: https://research.union.build/Intents-Bridging-10c79e5af45d80a3a0f8dde7159138af
Michael Mignano: Magic Market Fit
Unlike PMF which typically requires months or even years of experimentation, Magic Market Fit is met the moment a technical breakthrough is achieved
> Check out why AI and technical breakthroughs are redefining what it means to find PMF👇
Source: https://www.backgroundnoise.blog/p/magic-market-fit
Byzantine: DVT and Restaking
Byzantine Finance Partners with DV Labs to enable users set up their own DV-powered restaking vaults
DVs increase security for restakers, and make restaked capital more reliable for AVSs
Source: https://x.com/Byzantine_fi/status/1839630278928540074
Jito x Helius: Node Operator Partnership
Helius labs will be one of the initial node operators on the Jito (Re)staking protocol.
Source: https://x.com/jito_sol/status/1841527326493847750
Zama: Encrypted DNA Testing Using Fully Homomorphic Encryption
With FHE, DNA testing platforms could analyze genetic on encrypted data, ensuring sensitive information remains safe, even during processing, allowing to get the knowledge without the risks.
> This demo shows how to perform encrypted DNA analysis using FHE and Zama's Concrete ML library
Source: https://x.com/zama_fhe/status/1841457764838563891?s=52&t=txFAbiSPTdLLDlAYj9X_AA
karl_0x: $EIGEN True Float
This report revealed 40% of $EIGEN staked tokens came from just 13 investor addresses, misleading the public about token circulation and float.
> However, all 13 wallets recently started unstaking with the team has addressing the issue, promoting transparency👇
Source: https://x.com/karl_0x/status/1841325496266596791
Stevenshi_: Eigenlayer - the Market for Lemons
> Eigenlayer's thesis is that bootstrapping economic security is expensive
> But in reality the market is willing to throw L1s with any credible differentiation a $1B+ valuation
> So eigenlayer ends up attracting networks that somehow couldn't raise from VCs that are hungry to deploy
Source: https://x.com/stevenshi_/status/1841488307274105190
0xryzzu: Deep Dive Into MovementLabs
Movement is a Move based blockchain network that combines smart contract security and parallelization capabilities with the liquidity and user base of the Ethereum Virtual Machine (EVM).
> A project that raised $42.4M in funding with a community of over 700k👇
Source: https://x.com/0xryzzu/status/1841470440918933940?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Arrakis Finance | Why We Need to Fix DeFi: Addressing the CVMM Problem
Centralized Vertically-Integrated Market Makers (CVMMs) are operating across the MEV supply chain, monopolizing DeFi and extracting profits that would otherwise go to retail users.
> Arrakis offers a fix with HOT, a MEV-aware DEX that will challenge private market makers and empower LPs.👇
Source: mirror.xyz/0x929fCf268A62e684221f1e39B8b6ddA2f0dA4AeC/IwpSKCJkyGr80h6f9c7yBLG1mvYTpO_Kr9NiD3w-2So
Four Pillars: New-Gen Layer1 Tokenomocis: Three Pillars for the Token Flywheel
As fundamentals gain ground in crypto, tokenomics is a key criterion for assessing L1 fundamentals
> This article examines tokenomics cases from Bitcoin, Ethereum, Arbitrum, Berachain, Initia to Injective, aiming to provide a practical framework for evaluating future L1 projects
Source: https://x.com/FourPillarsFP/status/1841420888228671796
Decentralised Co: Modular Markets for Lending
Exploring Kamino Finance's shift towards modular lending markets, offering customizable loans that cater to users' individual risk preferences, unlike traditional one-size-fits-all DeFi models.
Source: https://x.com/decentralisedco/status/1841467798133813493?s=46&t=txFAbiSPTdLLDlAYj9X_AA
Blockworks | Metaplex Update: Product Expansion & Fully Diluted
Metaplex has evolved from NFT and token tools to a comprehensive suite that now includes Aura.
> Aura is a decentralized indexing and DA network
> Check out more on the Aura network, and MPLX token getting fully diluted👇
Source: https://x.com/blockworksres/status/1841107920840507547
Kairos Research: DeFi’s Breakthrough Moment - Inside the Financial Transformation of EtherFi, Aave, Maker, & Lido
This report explore some of the most influential DeFi protocols from a financial lens, a brief technical overview of each as well as a deep dive into their revenues, expenditures and tokenomics.
Source: https://x.com/kairos_res/status/1841148057372508555?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Auditless Research: Uniswap v4 is the Sanctum of Restaking
The article discusses how Uniswap v4 could play a pivotal role in the future of Ethereum (re-)staking, drawing parallels to Solana’s staking aggregator, Sanctum👇
Source: https://research.auditless.com/p/al-78-uniswap-v4-is-the-sanctum-of