On-chain research & angel collective. Making institutional-grade research a public good. Accelerating disruptive innovation through investment & advisory.
The $EIGEN token is becoming transferrable in just a few hours.
We spent 4 months researching the protocols building on this shared security system, leveraging the underlying $11.9B in crypto-economic capital.
Time to meet the
@eigenlayer
AVS ecosystem. ↓
🚨 BREAKING: $EIGEN is live!
@eigenlayer
is arguably the biggest launch since Ethereum itself, but only few understand its significance.
The ultimate guide to
@eigenlayer
. ↓
Avalanche, a multi-billion $$$ ecosystem, is about to undergo a major transformation.
ACP-77 will be a big step towards an ecosystem of interoperable, fully customizable & sovereign L1s.
Wait, modular L1s on
@avax
?
Research-🧵 full of ██████ alpha on a major catalyst.
Hey
@LayerZero_Labs
, quick question:
Why is your Axelar DVN controlled by an Externally Owned Account, that has the ability to censor traffic and transmit fraudulent transactions?
After the recent X beef between
@axelarnetwork
and
@LayerZero_Labs
, we got curious about
With $600m in TVL & >$175m in funding,
@OptimismFND
is the 2nd largest rollup!
Soon the Superchain will merge OP chains into one interoperable L2 ecosystem!
We
@RedactedRes
have done 100s of hours of research & compiled a 100+ page report of alpha!
Entirely for FREE! 🀄
✨🀄️ Redacted Research - EigenLayer Series 🀄️✨
Since 2020, over $4 billion has been siphoned from DeFi, losses that could have been prevented for a fraction of the cost. How?
By integrating an incident response protocol that will act as soon as a malicious actor tries to
Meet the Celestine Sloth Society 🦥 💤
This is not your average NFT collection.
Deeply rooted in the modular ecosystem, there is an origin story to the
@CelestineSloths
that few are aware of.
So where do the Sloths come from? WTF is LazyChain? Why is Redacted Research part
🔎📊 Investigating Taiko 📊🔍
@taikoxyz
recently launched at $2.5B FDV and received mixed feedback from the community.
With $32M in funding and $40M in TVL, what are the opportunities on the chain?
Let's explore their current ecosystem, growth strategy, and future plans.
✨🀄 Redacted Research - EigenLayer Series 🀄✨
@eigen_da
is the flagship AVS of the
@eigenlayer
ecosystem, has $8.5B in crypto-economic security, and functions as the key enabler of hyperscale rollups on Ethereum.
Deep dive full of ██████ alpha. 📚 ⤵️
In this post we
✨🔴 The Rise of the Superchain 🔴✨
Optimism is more than OP Mainnet.
Optimism is more than Optimistic Rollups.
So what is Optimism? Find out in the most comprehensive research report on the Superchain 🧵👇
Avail DA mainnet is here.
With $75M in funding from backers like
@foundersfund
or
@dragonfly_xyz
, this is one of the biggest launches of the year.
However, few understand
@AvailProject
.
Another DA layer? Interoperability? Shared security?
Mega-🧵 by ██████ full of alpha
In 2022, Fantom Opera TVL peaked at $8.8B.
After the catastrophic
@multichain
bridge incident, which resulted in the loss of 100s of millions, the ecosystem collapsed and never recovered.
With the imminent launch of
@0xSonicLabs
mainnet, hype has now finally returned to the
What does it mean to 'Make Ethereum Great Again' ?
✦ > 100k Transactions per second
✦ < 1ms Block time & latency
✦ < 0.01$ Transaction fees
Meet ███████ a parallel EVM L2 backed by
@VitalikButerin
that recently raised a $20M seed round.
Redacted Mega-🧵 full of alpha
🔎📊 Investigating Taiko 📊🔍
The
@taikoxyz
airdrop is live & $TAIKO is sitting at a mere $2.2B FDV, only a fraction of competitors like
@Starknet
($13.5B).
Additionally,
@taikoxyz
has paid >$1M in fees since mainnet launch, which is almost 10x more than
@zksync
's total cost,
Demystifying the VC Bets - WTF is Initia? 🪢
Yesterday,
@InitiaFDN
announced a $14M Series A, bringing total funds raised to $22M. Another major step towards making the vision of "Interwoven Rollups" a reality.
What does that mean and why are VCs throwing millions of $$$ at
$SCR is set to launch on Oct 22nd and is currently trading at $1.5B FDV pre-market, which is below the $1.8B FDV of its latest funding round.
With a lot of FUD around
@Scroll_ZKP
on CT, we set out to uncover what the future really holds in store for this once highly anticipated
The Truth about L2 Trust Assumptions
Imagine you are a DeFi user on a rollup. Your favourite app gets hacked and you are down five figures.
Would you want the chain to be stopped to retrieve the funds?
Imagine you hold six figures on a L2 with billions in TVL.
Would you
The $ZK airdrop checker is coming today & pre-market $ZK is valued at $15B, likely making it one of the biggest airdrops ever.
👉 After over 1 year of mainnet, what's the state of the
@zksync
Era ecosystem?
👉 Should you sell your $ZK?
Data-driven 🧵 full of redacted alpha.
The Redacted Research Hub is live! 🧠✨
Today marks a huge milestone for
@RedactedRes
on our mission to make institutional-grade research freely accessible to all the degens out there.
Don't fade anon (Link below!) 🧵
✨🀄️ Redacted Research - EigenLayer Series 🀄️✨
In this series we've previously covered what
@eigenlayer
can do for the interoperability space, but what if it can help Optimistic rollups be more secure? Or DePIN chains be verifiably more decentralized? Now, let's dive into how
✨🀄️ Redacted Research - EigenLayer Series 🀄️✨
@eigenlayer
is a cloud platform for on-demand security.
It enables hyper-specialized infra services to provide the core building blocks & APIs to build verifiable apps at scale.
This includes a protocol that will prevent billions
$45B in TVL on L2s like
@arbitrum
,
@optimism
or
@base
.
> 160 rollups live or in the making
Are people even using these chains?
How secure are the leading L2s?
Do we really need more rollups?
Data-driven 🧵 on the state of the Ethereum L2 ecosystem to find the answers.
✨🀄️ Redacted Research - EigenLayer Series 🀄️✨
For the modular infrastructure space,
@eigenlayer
is a game-changer. It generalizes Ethereum's trust network and economic stake to secure decentralized networks that go beyond the capabilities of the base layer.
One example of
Thank you
@PrimordialAA
We had another look and some questions remain:
The contract you are referring to in your comment was created just a few days ago and was created by the same EOA (1) that we point out in our original post.
The "test" contract was even linked in the
Just two days ago,
@movementlabsxyz
launched its long-awaited public testnet.
With $38M raised in a recent Series A and backed by
@BinanceLabs
and other big players, Movement could be the emerging giant of this cycle.
Is this the "Big Bang Moment" for AltVMs?
What makes
The
@CelestiaOrg
mainnet launch is near and will enable new network and application designs!
One narrative you'll hear about a lot as we head into the next cycle are "sovereign rollups".
We have a complete breakdown of this novel type of network desing ready for you! 🀄️
✨🀄️ Redacted Research - EigenLayer Series 🀄️✨
Taking rollup security to the next level and providing a versatile proving infrastructure for a trustlessly composable Web3 ecosystem powered by ZK.
Meet
@AutomataNetwork
, a Multi-Prover implemented as an Actively Validated
✨🀄️ Redacted Research - EigenLayer Series 🀄️✨
@eigenlayer
initiated a new paradigm by separating the execution from the security layer. The result? Middleware such as bridges, oracles and DA-layer secured by Ethereum.
What if it was possible to secure L1s as well? Introducing
Why does
@OptimismFND
let anyone build on the OP Stack permissionlessly?
Don‘t they create competition for their own OP Mainnet? Is it accruing value to Optimism & its main product?
It's complicated. But let us walk you through some of our redacted thoughts!🀄️👇
To understand
✨🀄️ Redacted Research - EigenLayer Series 🀄️✨
Smart contracts, while excellent in enabling on-chain programmability, have inherent limitations due to their inability to access real-world data.
In other words, blockchains lack awareness of external events and cannot access
The memecoin mania that happened over the past few weeks have eclipsed the Dencun upgrade.
However this is one of the biggest upgrade for Ethereum.
What is exactly EIP-4844, it's impact and more importantly, what are its drawbacks?
A research driven thread 🧵
The
@RedactedRes
team is expanding. 🀄
We're excited to announce that
@0xJh4tM
and
@MiMe_CH
are joining our team to co-head Data Analytics & Node Operations.
With the addition of these capabilities to the collective, we are expanding our activities from making
The Optimism RPGF results are in! 🔴 ✨
30M OP tokens were granted to contributors of the
@Optimism
ecosystem! 🤯
We are excited to announce that Redacted Research received 24.6K OP. Thanks again to everyone who voted for us! 🙏
Now, it's time to look at RPGF stats! 📊👇
We are not paid or externally incentivized to do this, no. Redacted Research has never done sponsored content.
We want transparency around trust assumptions for users in Web3 and that is not exclusive to a specific protocol or type of technology.
Let us give you an example:
@RedactedRes
Did you actually read the audit? You cannot forge anything, you cannot ever touch existing pathways, and you can DoS because Axelar has no on-chain quoting (which is laughable in the first place). There are entire portions of the audit dedicated to what you're claiming here
Can
$EIGEN Airdrop Season 2 Claims are Live! ♾ 🪂
TL;DR on everything you need to know around airdrop, tokenomics, and what happens next!
Airdrop Season 2:
- Total of 86M $EIGEN or 5.15% of supply distributed
- 70M $EIGEN or 4.2% for stakers & operators
- 10M $EIGEN or 0.6% for
1/ We’re excited to announce that Season 2 claims are now open!
As we approach the EIGEN token unlock, we want to recognize and reward the individuals, projects, and ecosystem partners who have played a key role in shaping
@eigenlayer
.
Get started:
✨🀄️ Redacted Research - EigenLayer Series 🀄️✨
The blockchain's limitations on heavy computation and trust-minimized state access requires off-chain computation.
Enters
@brevis_zk
, the ZK-coprocessor supercharged with cryptoeconomic security as a solution to the limitations
In this research thread we cover:
➊ Setting the Stage
➋ WTF is EigenLayer?
➌ WTF is an AVS?
➍ AVS Ecosystem
➎ Restaking Ecosystem
➏ The EIGEN Token
➐ Team and Backers
➑ ██████ Conclusion
This will be a long read, get yourself a coffee, get comfortable, and LFG! ↓
$BTC is a $1.3 trillion asset, yet most of it is sitting idle.
@babylonlabs_io
brings the sector from 0 to 1 by enabling $BTC staking to secure blockchains and generate yield.
This is a game-changer for Bitcoin & the entire industry.
Research-🧵 on the
@eigenlayer
of $BTC ⤵️
➑ ██████ 𝐂𝐨𝐧𝐜𝐥𝐮𝐬𝐢𝐨𝐧
As we have explored in this report,
@eigenlayer
has already evolved into a vibrant ecosystem of AVSs and has a flourishing restaking economy around it that fuels the crypto-economic security system that underlies the system.
The protocol is
✨🀄️ Redacted Research - EigenLayer Series 🀄️✨
We've explored the modular intricacies of blockchains, from interoperability to execution layers. Now, imagine a game-changer that redefines how dApps, users, and computing power interact that isn't really being talked about.
After multiple months of farming and $1.65B in TVL, $BLAST has just launched at $2.3B FDV.
The current market has been extremely challenging for recent launches ($ZRO, $ZK). Will Blast be different?
Everything you need to know about Blast, the Fullstack Chain and its launch 🀄
✨🀄️ Redacted Research - EigenLayer Series 🀄️✨
Unlock the power of Multi-Signature wallets for secure crypto control.
@silencelabs_sl
elevates "not your keys, not your crypto" with Two-Party Multi-Computation (MPC) tech, keeping your assets safe in any scenario.
🧠 Why Silent
1/ WTF is
@eigenlayer
?
EigenLayer is a cloud platform for crypto-economic security, fueled by restaking.
As a developer platform it abstracts the complexity of building decentralized networks from scratch and enables an ecosystem of verifiable SaaS providers (a.k.a. AVSs) that
✨🀄️ Redacted Research - EigenLayer Series 🀄️✨
Billions of dollars are secured in (modular) data middleware but lack forms of:
- Optimistic execution
- Cryptographic verification
- Decentralized Physical Infrastructure
- Ethereum's security
- The possibility to convert any
4/ Independent blockchains?
Yes anon.
@avax
is more than the primary network.
It's an ecosystem of sovereign and interoperable L1 blockchains that can be fully customized and run app- or vertical-specific execution logic on what is essentially a modular blockchain SDK.
5/ There are >40 active subnets on mainnet or testnet, which includes a broad spectrum ranging from DeFi app chains to gaming chains or modular infra layers such as shared sequencers like
@movementlabsxyz
M1 or
@nodekitorg
.
However, the focus today lies on the impact of ACP-77.
The ecosystem of chains building on the OP stack that could become part of the Superchain is growing exponentially .
Let us introduce you to 27 projects you must know:
🔹
@OPLabsPBC
- First OP stack based chain built by the
@Optimism
team and boasting a TVL of $7.2B.
🔹
@base
Amazing overview
@therollupco
! 🫡
Great to see the modular ecosystem mature!
A Redacted Primer on Modularity 👇
Modularity separates the core functions of a blockchain into distinct, interchangeable layers. 🧱✨
In these functional areas, specialized players emerge that build
Last week
@eigen_labs
unveiled the new
@eigenlayer
security model.
It's the largest upgrade to the
@eigenlayer
protocol so far and a major step in preparation of the slashing feature release on mainnet.
██████ explainer on why it matters. ⤵️
The new model aims to allow
Introducing the EigenLayer Security Model: A Novel Approach to Operating and Securing Decentralized Services
Eigen Labs is excited to introduce the EigenLayer Security Model, , in preparation for the upcoming ‘Slashing’ protocol feature release.
In this
1/ Avalanche is one of the most established ecosystems and strongest brands in the entire crypto space.
The
@avax
C-Chain (Contract Chain) is one of the largest networks in terms of TVL, stablecoin supplies and on-chain activity (which has all suffered in the past months tho).
With the rapidly evolving space of modular execution layer designs, it is important to ensure a coherent, shared terminology.
At
@RedactedRes
, we propose a layered terminology based on different levels:
L0: Rollup-based Scaling Solutions
Scaling solutions that put computation
@toghrulmaharram
@0xDinoEggs
We agree that Optimiums/Validiums are different from rollups wrt mechanics (DA) / trust assumptions.
We aimed to differentiate by separating "pure" rollups from Optimiums/Validiums to keep the visualization simple.
As the concepts of off-chain tx processing & tx aggregation
✨🀄️ Redacted Research - EigenLayer Series 🀄️✨
Taking rollup security to the next level and providing a versatile proving infrastructure for a trustlessly composable Web3 ecosystem powered by ZK.
Meet
@AutomataNetwork
, a Multi-Prover implemented as an Actively Validated
One and a half months ago, we published the most comprehensive research article on
@optimismFND
, spanning over 100 pages to present the complete L2 solution.
While the foundation has made impressive technological advancements, we were surprised by the disruption in terms of
30/
@avax
already has a strong footing in the gaming sector as well, which is another growth driving sector with a huge addressable market.
Will definitely be an ecosystem to watch as modularity continues to blur the lines between L1s, L2s & other network configurations.
2/ However,
@avax
is much more than C-Chain or a singular (EVM-compatible) execution layer.
It consists of three primary chains:
✦ Contract Chain (C-Chain)
✦ Platform Chain (P-Chain)
✦ Exchange Chain (X-Chain)
29/ With
@SuzakuNetwork
, a restaking protocol for sovereign blockchains,
@ash_avax
will also bring restaked security to the subnet stack.
Suzaku allows devs to build any kind of subnet-based AVS secured by assets like $AVAX, $ETH or even $BTC.
Gauthier described Suzaku, a system that orchestrates restaking for sovereign networks. It is integrated with external restaking ecosystems, such as ETH, and uses Avalanche subnets for its operation.
#codebase
That's a wrap! We hope you've found this thread helpful! 🫡
Make sure to follow
@RedactedRes
stay ahead of the curve on all things modular infra.
Like/Repost of the below post is also highly appreciated! 🙏👇
Avalanche, a multi-billion $$$ ecosystem, is about to undergo a major transformation.
ACP-77 will be a big step towards an ecosystem of interoperable, fully customizable & sovereign L1s.
Wait, modular L1s on
@avax
?
Research-🧵 full of ██████ alpha on a major catalyst.
6/ 💡 Motivation
Previously, validators needed to stake 2000 $AVAX (~$70k) and sync the entire Primary Network, making it costly and resource-intensive.
Also, regulated entities couldn't launch subnets due to mandatory Primary Network validation posing a regulatory barrier.
3/ In the context of ACP-77, the P-Chain, which coordinates validators and manages subnets, is the most relevant one.
It is responsible for network-wide operations, including the creation and management of subnets (independent blockchains) and the validator management.
➋ 𝐖𝐓𝐅 𝐢𝐬 𝐄𝐢𝐠𝐞𝐧𝐋𝐚𝐲𝐞𝐫?
@eigenlayer
is a key infra layer within the modular ecosystem and probably best described as a cloud platform for crypto-economic security.
As mentioned in the previous chapter, building decentralized networks comes with significant
27/ With ACP-77 removing the last existing barriers on that front and institutional Blockchain-as-a-Service providers like
@AvaCloud
potentially serving as the final abstraction layer on top of the subnet stack, a subnet season (fueled by institutions) could be imminent.
26/ Nontheless, as applications mature and seek more customizability and token utility, dedicated & sovereign blockchains will be crucial.
In this context,
@blockworksres
sees
@avax
well positioned to become a leading platform to build interoperable, high-performance L1 chains.
7/ 🌐 What's Changing?
✦ Subnet Validators only need to sync the P-Chain, reducing hardware requirements
✦ The need to stake 2000 $AVAX is removed & replaced by a lower, continuous fee mechanism.
✦ Better builder experience & interop powered by Avalanche Warp Messaging.
✨🀄️ Redacted Research - EigenLayer Series 🀄️✨
For the modular infrastructure space,
@eigenlayer
is a game-changer. It generalizes Ethereum's trust network and economic stake to secure decentralized networks that go beyond the capabilities of the base layer.
One example of
14/ So, how does it work on
@avax
?
Post ACP-77, the monthly cost of operating a Subnet will vary based on $AVAX prices, as the continuous cost paid to the P-Chain is priced in nAVAX/s.
19/ 🤔 So, why does all of this matter?
Global shared state machines a.k.a. general purpose L1s like Ethereum and
@Solana
may not satisfy global scale or offer the best developer experience or value capture.
20/ Ethereum mainnet places heavy costs on users during high demand periods, while
@Solana
's congestion issues render it near-useless during peak times.
Dedicated L1 blockchains and specialized VMs can offer better performance & predictability.
We have done hundreds of hours of in-depth research to craft this 103 pages report🀄
Bear with us as we break down the Optimism ecosystem, exploring the underlying technology and the Superchain vision, its unique features, & how it sets itself apart from other L2 solutions!
/1
22/ Ethereum's rollup-centric roadmap and
@Solana
's global shared state machine represent different scaling approaches.
What
@Cosmos
,
@avax
and Ethereum do agree on though, is that dedicated execution environments and optimized stacks are key to addressing performance issues.
18/ Additionally,
@avax
subnets also have the added benefit of native interop & hardware redundancy to reduce liveness risks.
Thanks to Avalanche Warp Messaging (AWM), subnets are interoperable among each other and they can leverage all the infra & tooling available on C-Chain.
2/ Wait, WTF is an AVS?
AVS stands for Actively Validated Services.
They are decentralized networks that leverage
@eigenlayer
to bootstrap crypto-economic security.
These systems are secured through restaked operators on Ethereum and are often hyper-specialized infra service
Stay tuned as we will follow up with a deep dive into the
@zksync
Hyperchain vision, the ZK Stack, the tokenomics & more!
Drop
@RedactedRes
a follow & turn on notifications.
ZK summer is about to get hot.
Like & RT of the below post also appreciated! 🙏👇
✨🀄️ Redacted Research - EigenLayer Series 🀄️✨
Smart contracts, while excellent in enabling on-chain programmability, have inherent limitations due to their inability to access real-world data.
In other words, blockchains lack awareness of external events and cannot access
31/ The
@avax
tech stack could become a core piece of infra as we're heading into a multichain future with app- and vertical-specific blockchains, customized at every level of the technology stack are on the rise.
🧠 DYOR anon.
16/ In their analysis,
@blockworksres
quantified the historical daily onchain costs of operating
@dexalot
, a DEX currently an
@avax
subnet, in multiple configurations:
✦ PAYG Subnet (ACP-77)
✦ Ethereum-based OP rollup
✦ Celestia-based OP rollup
✦ Cosmos consumer chain
9/ Post EIP-4844, rollup costs to post data to Ethereum mainnet have reduced by ~99%.
Overall, based on
@blockworksres
data, OP Stack chains are currently the cheapest stack, at ~$2/MB of processed txs on average, compared to
@Arbitrum
at ~$15/MB and
@ZKSync
at ~$150/MB.
21/ Global shared state machines generally limit builders' ability to customize products.
Appchains, like those in the
@Cosmos
ecosystem or the ones built on
@avax
subnets, offer more design space and control, enabling better end-user experiences.
11/ The cost per tx on all these different L2 execution layers overall strongly varies tho.
Pls note the below visual only includes Ethereum rollups, uses a different metric (cost/tx) than the blockworks report (cost/MB) and that the data is sorted based on TVL, not cost.
15/ This fee changes based on a target utilization of total subnet validators registered on P-Chain, not based on the amount of economic activity on the subnet itself.
14/ But back to
@zksync
Era. What are people doing onchain?
Activity peaked between Dec 2023 and Feb 2024 when airdrop farmers flooded the chain in the hope of a juicy $ZK allocation.
On Dec 25th 2023, the chain reached ATH activity with >557K daily active addresses.
➊ 𝐒𝐞𝐭𝐭𝐢𝐧𝐠 𝐭𝐡𝐞 𝐒𝐭𝐚𝐠𝐞
Programmable general-purpose blockchains like Ethereum brought us smart contracts, which allows devs to build apps on-chain without having to build an entire blockchain for their use case.
This sparked an era of on-chain innovation that
10/ EIP-4844 & specialized, modular DA layers like
@CelestiaOrg
,
@AvailProject
or
@eigen_da
solve the DA problem.
Rollups that publish data to
@CelestiaOrg
are the evidence, being even cheaper than EIP4844 rollups and reducing data cost by >92%, with some paying only ~$0.20/MB.
The
@cometbft
mempool is poorly designed.
Cosmos teams need to build an alternative system asap.
Happy to help or if someone wants to give me a grant,
@iqlusioninc
can hire a team and build one.
17/ As the above chart shows,
@blockworksres
found that post ACP-77, subnet validation in this case would be more cost-effective than an Ethereum-based rollup and easily cost-competitive with a Celestia-based rollup configuration.
➏ 𝐓𝐡𝐞 𝐄𝐈𝐆𝐄𝐍 𝐓𝐨𝐤𝐞𝐧 (𝟏/𝟐)
The $EIGEN token, described in the whitepaper as an "Intersubjective Work Token", stands at a unique tokenomics design that ensures the crypto-economic security model can handle various fault cases reliably and without unduly burdening the
13/ The most extreme example is
@starknet
though with 70% of the assets on the network is just $STRK, which is currently sitting at a huge FDV with a relatively low float.
The composition of the value secured on the network is worrying.
📉 Starknet is getting worse every day, lol
▸TVL on Starknet is $1B, but $700M of that is $STRK (70%)
▸The amount of stablecoins on a network is a clear indicator of its opportunities. If there's barely any stablecoin circulation, it means people don't see a reason to move
✨🀄️ Redacted Research - EigenLayer Series 🀄️✨
Since 2020, over $4 billion has been siphoned from DeFi, losses that could have been prevented for a fraction of the cost. How?
By integrating an incident response protocol that will act as soon as a malicious actor tries to
28/ Similar to RaaS in the Ethereum and
@CelestiaOrg
world, L1-as-a-Service where you can deploy fully customized L1s through a web UI could be a huge catalyst for ecosystem growth.
12/ However, the visual does show that the rollup cost composition has changed significantly post EIP-4844 for many.
Often, compute is now the key cost component. What that means in the example of
@taikoxyz
, I recently investigated with
@RedactedRes
.
🔎📊 Investigating Taiko 📊🔍
The
@taikoxyz
airdrop is live & $TAIKO is sitting at a mere $2.2B FDV, only a fraction of competitors like
@Starknet
($13.5B).
Additionally,
@taikoxyz
has paid >$1M in fees since mainnet launch, which is almost 10x more than
@zksync
's total cost,
24/
@blockworksres
also points out that while rollups lack native interop standards (for now),
@Cosmos
chains (that have IBC) have historically suffered the issue of "tech debt", which has hurt its flexibility.
The thing that has always bothered me about the SDK is how it forces you to do things “the way the sdk does them”, without allowing for flexibility.
Things like modular encoding, allowing spinning up secondary services and generally giving the developer more control around how
12/ It will then however be in a situation akin to
@MantaNetwork
where the total value secured on the chain is $777M, but 64% is $MANTA.
A large % of native token in total value secured hints at an ecosystem that struggles to attracts external assets.
L2Beat's new feature separates the total TVL count from the chain's own token, here are some metrics ⬇️
🔹
@MetisL2
's TVL of $629M is composed of 91% of $METIS ($587M) for a non-token TVL of $42M
🔹
@Starknet
's TVL of $1.13B is composed of 77% of $STRK ($824M) for a non-token