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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
Ethena Community Proposes to Onboard SOL as a USDe Backing Asset
This proposal recommends an allocation of USDe’s backing to SOL utilizing substantially the same mechanics as Ethena’s hedging mechanism currently in place with BTC and ETH perpetual futures.
Source: https://gov.ethenafoundation.com/t/proposal-onboard-sol-as-a-usde-backing-asset/232
Vitalik: Possible Futures of the Ethereum Protocol, part 1: The Merge
This post discusses what can be improved in the technical design of proof of stake and paths to getting there. It provides a list of ideas that are actively being considered like:
> Single slot finality and staking democratization: Discussed reducing staking requirement to 1 ETH
> Single secret leader election
> Faster transaction confirmations
> it also addresses challenges such as 51% attack recovery and the need for quantum-resistance in the protocol's future.
Source: https://vitalik.eth.limo/general/2024/10/14/futures1.html
Silent Protocol: Making Ethereum Institution Friendly & Solving the Duality of Confidentiality
Part B (Cryptography behind the Silent Compliance VM)
> Silent Protocol introduces cryptographic mechanisms for the Silent Compliance VM
> This part delves into alternative strategies for mitigating illicit activity within privacy-focused ecosystems and explores the intricate cryptographic mechanisms underpinning the Silent Compliance VM.
Source: https://medium.com/silent-protocol/making-ethereum-institution-friendly-solving-the-duality-of-confidentiality-part-b-95628e79c328
October 12th~ Rollup
🐚 Research and Ideation 💡
- spjoleh: What Comes After the Web
- Tushar Jain: Gas Fee Abstraction is Bearish L1 Tokens
- Flashbots: Zero Trust Execution Environments
- 0xCholy: Telegram Mini Apps – Transforming Applications
- Chaos Labs: Decentralized Derivatives 101: Models, Challenges, and Opportunities
- Takens Theorem: Creating, Destroying, and Restoring On-Chain Artwork
- Flashbots Forum: BONKbot’s Secure Signer Architecture
- Adam Silverman: Everything that Happened in AI Agents this Week
- 0xFunk | Archetype: Crypto-Powered Information Games
🐚 Project Updates 🔔
- Paymaster Allows USDC as Gas Fee Payment on Base
- INTELLECT-1: First Decentralized Training of a 10B Model
Everything that Happened in AI Agents this Week
> CrewAI Version 0.70.1 is out!
> Ahmad Awais introduces BaseAI
> Can now build your own Gumloop nodes with AI
> A new way to interact with Sierra agents: voice.
> Salesforce is launching Agentforce👇
Source: https://x.com/atomsilverman/status/1844889384136679881?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Flashbots Forum: BONKbot’s Secure Signer Architecture
A dedicated TPM-based system with WASM signing verification vs. TEEs
> It combines a custom Trusted Computing Device with user-authorized WASM modules for transaction validation.
> To achieve CEX-like execution speeds on Solana while maintaining non-custodial security.
Source: https://collective.flashbots.net/t/bonkbots-secure-signer-architecture-dedicated-tpm-based-system-with-wasm-signing-verification-vs-tees/3964
Chaos Labs: Decentralized Derivatives 101: Models, Challenges, and Opportunities
Derivatives markets, both in traditional finance & crypto world are ways larger than spot markets
> While crypto derivatives on centralized exchanges dominate, decentralized derivatives are gaining ground and may soon surpass spot markets in DeFi as the ecosystem matures.
> This article explores key models, such as Hard Liquidity Backed and Synthetic Models, essential for supporting this growth.
Source: https://x.com/chaos_labs/status/1844809725130756373?s=46&t=2q9OLMlaobNlHLewOXT4uA
Flashbots: Zero Trust Execution Environments
“TEEs are not secure enough for the most exciting use cases”
This post discusses the growing demand for more secure, high-performance hardware to support use cases requiring TEEs.
> It calls on hardware security experts to help design improved solutions that address current limitations, and why the secure hardware we have today doesn’t satisfy our needs.
https://x.com/0xquintus/status/1845101645186859438?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Source: https://writings.flashbots.net/ZTEE
USDC Now Available as Gas Fee Payment on Base
Source: https://x.com/jerallaire/status/1844773079886569888
October 11th~ Rollup
🐚 Research and Ideation 💡
- ImperiumPaper: Rune Withdrawing from Governance Staking to Shore Up His Positions
- Syndica: Deep Dive: Solana DeFi - September 2024
- Richard Galvin: Shuffle - a High Growth, Catalyst-Rich and Transparent GambleFi Project
- 0xENAS: Ethena - The Trillion Dollar Crypto Opportunity
- On Chain Times: A Chat With Domer, the #1 Trader on Polymarket
- Bitcoin Suisse: Industry Rollup
- Goodalexander: on Economic Theory, Attention Economies, and the Future of AI
- TAO Times: Highlights of the Week (zkML on Bittensor)
🐚 Podcast 🎙️
- Steady Lads Podcast: Is the Memecoin Supercycle Upon Us? w/ Murad
- Good Game Podcast: Q4 State of the Crypto Market
- Uncut Gems Podcast: How MegaETH will scale Ethereum
- BlockSpace Pod: Reasoning By Analogy With Kyle Samani
🐚 Project Updates 🔔
- Binance Pre-Market is Live!
- Arkham Intelligence Plans to Launch a Derivatives Exchange Next Month
TAO Times: Highlights of the Week (zkML on Bittensor)
> Inference Labs has received community praise for its efforts in the zkML space
> OpenKaito demonstrates miner improvements
> NeuralAI, announced the launch of the Neural3D subnet on SN46.
Source: https://taotimes.xyz/p/tao-times-8-zkml-on-bittensor
Also check out Bitcoin Suisse Industry Rollup
covering:
> Market Performance and Asset Correlations
> Crypto Market Dynamics
> Sector Performance and Notable Trends
> Bitcoin Cycle Analysis, and more
Source: https://files.bitcoinsuisse.com/assets/pdf/202409_IndustryRollup_EN.pdf
Good Game Podcast: Q4 State of the Crypto Market
Discussion:
> Murad, his tactics, and getting doxxed
> Kamala On Crypto?
> BTC vs. ALTs vs. Memecoins
> Moonshot & Coinbase Wallet App Store Rank
> Where Are We in This Cycle?
> Shitcoins, Gambling, and more
Source: https://www.youtube.com/watch?v=1gOqcUD81xc
0xENAS: Ethena - The Trillion Dollar Crypto Opportunity
> Scaling its yield-bearing stablecoin to $3bn in a matter of months, no other stablecoin has grown as quickly as USDe since inception.
> Having withstood the test of extreme market volatility with no issues, it now looks to go after the largest market in crypto - Tether's $160b lunch👇
Source: https://x.com/0xenas/status/1844756962854212024?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Syndica: Deep Dive: Solana DeFi - September 2024
> SOL locked in DeFi has reached a new ATH of 36M.
> 78% of SOL locked in DeFi protocols is allocated to spot and perp DEXes
> As of September, 7.2% of the total SOL staked is in liquid staking, a new ATH.
> Sanctum pushed liquid-staking TVL to a new ATH of 28M SOL.
> CEX LSTs now account for 3.2% of the total LST market share.👇
Source: https://x.com/Syndica_io/status/1844734270037803449
October 13th~ Rollup
🐚 Research and Ideation 💡
- Silent Protocol: Making Ethereum Institution Friendly & Solving the Duality of Confidentiality
- Vitalik: Possible Futures of the Ethereum Protocol, part 1: The Merge
🐚 Project Updates 🔔
- 'Off The Grid' Surpasses Expectations Upon Launch
New Battle Royale Game 'Off The Grid' Surpasses Expectations Upon Launch
OTG is a cyberpunk-themed third-person Battle Royale video game, with plans to integrate crypto features through an Avalanche Subnet
Key stats from first few days:
> #1 on Epic Games store
> Over 1.1m wallets created
> Top 3 streamed game on Twitch with >1m hours watched.
Source: https://x.com/zemariamacedo/status/1845054922678812862?s=52&t=txFAbiSPTdLLDlAYj9X_AA
0xFunk | Archetype: Crypto-Powered Information Games
Crypto-powered information can increase our collective decision making-abilities and unlock efficiency gains on the scale of global GDP
> zkTLS, TEEs, MPC, Futarchy are all driving technological revolutions in how we produce and monetize information.
> From prediction markets to game-theoretic oracles and TEE networks, this piece covers the design space for creating these crypto-powered information games, and the infrastructure critical in bringing them to their full potential.
x.com/0xfunk/status/1845156773050843221?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Source: https://www.archetype.fund/media/crypto-powered-information-games
Prime Intellect Announces INTELLECT-1: First Decentralized Training of a 10B Model
Scaling decentralized training 10x beyond prior efforts
Source: https://x.com/PrimeIntellect/status/1844814829154169038
Takens Theorem: Creating, Destroying, and Restoring On-Chain Artwork
This post is about a recent innovative NFT project on Ethereum called “Rothko on Pennies” that stores an image on a thousand tiny contract balances and illustrates several ways that hacking can be artwork
Source: https://medium.com/etherscan-blog/creating-destroying-and-restoring-on-chain-artwork-d6f1d031a2d5
0xCholy: Telegram Mini Apps – Transforming Applications
This article explore:
> How Mini Apps are transforming the app market
> Why Telegram Mini Apps are the most crucial solution
> Highlight the experience of China
> The future of Mini Apps within the digital landscape.
Source: https://choly.substack.com/p/telegram-mini-apps-transforming-applications?triedRedirect=true
Tushar Jain: Gas Fee Abstraction is Bearish L1 Tokens
The L1 tokens may still be burned for fees but the abstraction reduces monetary premium because fewer people need to hold the L1 tokens.
Source: https://x.com/tusharjain_/status/1845087065513304200
spjoleh: What Comes After the Web
> The current market is flawed
> Most of the apps we use rely on the cloud, however, cloud isn’t without limitations
> (i) Web3, and (ii) the Local first internet have emerged to solve these limitations
> Their combined technical & philosophical insights pave the way for a powerful new kind of cloud, on which the next evolution of the web will be built.
Source: https://x.com/spjoleh/status/1829182285704315064?s=52&t=txFAbiSPTdLLDlAYj9X_AA
BlockSpace Pod: Reasoning By Analogy With Kyle Samani
Discussion:
> Solana's potential to overtake Ethereum,
> The future of DeFi, token economics, and the emerging DePIN sector.
> Some hot takes on Ethereum as a failed project,
> Ultrasound money
> Moats for dapps, wallets and infra
Source: https://x.com/blockspacepod/status/1843642633807098187?s=52&t=txFAbiSPTdLLDlAYj9X_AA
Goodalexander: on Economic Theory, Attention Economies, and the Future of AI
> “most of what I thought were fundamental re-ratings in stocks were actually memes”
> “the whole system was a gigantic liquidity Ponzi that allocated capital according to attention.”
> “in aggregate, everyone is extremely predictable”
> “The endless quantified attention of society, manifests itself in predictable patterns”
> “The vast financial sugar rush we've built on this system, will not deflate. But rather be slowly syphoned off into making a higher order intelligence”
> “The attention economy, the speculative excess, the global connectivity. It's all just a societal progression - a pyre on which the phoenix of super intelligence will rise”
Source: https://x.com/goodalexander/status/1844738805749653739?s=52&t=txFAbiSPTdLLDlAYj9X_AA
MegaETH: The iPhone Moment for Crypto - How MegaETH will scale Ethereum
Bitcoin Suisse | Uncut Gems Podcast
Guest: Shuyao and Namik, Founding Team Members of MegaETH
> They discuss how MegaETH aims to overcome the traditional limitations of blockchain speed and scalability while maintaining robustness and decentralization. 👇
Source: https://www.youtube.com/watch?v=sPziCj65_qs
On Chain Times: A Chat With Domer, the #1 Trader on Polymarket
> Domer (JustKen) talks about his professional background, framework for trading on prediction markets, trading psychology and more👇
Source: https://www.onchaintimes.com/a-chat-with-domer-the-1-trader-on-polymarket/
Richard Galvin: Shuffle - a High Growth, Catalyst-Rich and Transparent GambleFi Project
> Shuffle has grown to be the third-largest crypto casino operator by deposit volumes
> It has seen over 500% growth in its monthly wagering volumes (to $2 billion), surpassing Rollbit
> It has strong fundamentals and upcoming catalysts like revamped tokenomics & product innovations
> Trades on 2.4x current annualized earnings
> Ambitious, focused, commercially minded team
Source: https://x.com/richwgalvin/status/1844677870482055361
MakerDAO Founder, Rune, Borrowing Against his MKR, and Now Withdrawing from Governance Staking to Shore Up His Positions
MKR price had plummet 33% since rebrand, the bigger concern now is Rune's MKR borrowing and his large governance stake withdrawals
Source: https://x.com/imperiumpaper/status/1844741999036862814?s=52&t=txFAbiSPTdLLDlAYj9X_AA