Chandan
@chandan1_
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Investment analyst at @M31Capital , Researching Everything web3. building @fitcentive Check Highlights...
on chain
Joined November 2021
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1/ Build for Network Effects or Watch Others Win.
Most successful Internet-era companies have thrived on network effects.
- E-Commerce: eBay, Etsy, Amazon, Alibaba
- Rideshare: Uber, Lyft
- Social Media: Facebook, Twitter, YT
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moving from
@0xPolygon
to
@arbitrum
@AcrossProtocol
: 15s
@StargateFinance
: 19 mins
@circle
CCTP: 8 mins
this is night/day difference, this is why Across may win, superior UX.
these speeds are possible bc it is an Intent-based bridge.
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Ethereum leads in TVL, NFT volumes, stablecoin market cap, and developer activity.
Yet, somehow, CT remains bearish on Ethereum.
CT Comparing Ethereum to other chains using irrelevant metrics.
Why so bearish on ETH, anon?
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1/ Many are unaware, but
@0xPolygon
is the leader in prediction market volume. Currently, 80% of prediction market volume is on Polygon.
read👇🧵
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1/ Increasing Rollup TPS to 100k and more.
Currently, there are two bottlenecks:
- The Data Availability (DA)
- The Execution.
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Ethereum leads in TVL, NFT volumes, stablecoin market cap, and developer activity.
Yet, somehow, CT remains bearish on Ethereum.
CT Comparing Ethereum to other chains using irrelevant metrics.
Why so bearish on ETH, anon?
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Graduated from
@LearnWeb3DAO
Looking for
#teammates
to build
#Projects
.
Requirements most be graduated from
@LearnWeb3DAO
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Ethereum is the de-facto institution-friendly smart contract chain.
Institutional users care about Lindy, regulatory comfort, a trusted partner like Coinbase, and real yield.
All of which only Ethereum is equipped with today.
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All these posts claiming VCs should invest more in apps than infra are misguided.
Here's why:
- VCs' primary goal is to generate returns for their LPs. Historically, infra deals have performed well, so they'll continue investing large amounts in this area until that changes.
-
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Intent-based Systems will power all types of on-chain Swaps.
Large, idle capital pools have historically attracted hackers. Intents solve this.
-
@aori_io
-
@Uniswap
X
-
@AcrossProtocol
-
@CoWSwap
-
@deBridgeFinance
Intent: settle on-chain, compute/match off-chain.
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1/ You don’t need to be a developer to launch NFTs and Tokens anymore.
Here are the top 5 tools to build your own NFT collection and Tokens within an hour without writing a single line of code.
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Coinbase will onboard all their retail users to
@base
Stablecoin growth on
@base
continues to accelerate, as the total supply in circulation has increased by 100% over the last 30 days and is now more than $2.65B. Base recently surpassed Solana to became the second largest network in terms of USDC in circulation and is now
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1/ Where does Ethereum fit in? With the launch of numerous L2s, L1s?
Despite high gas fees and low TPS rates, Ethereum continues to lead in several key areas:
- Total Value Locked (TVL)
- NFT volumes
- Stablecoin market cap
- Developer activity
🧵
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Front ends like
@JupiterExchange
and
@1inch
collecting the same level of fees as
@Uniswap
and
@CurveFinance
indicates something significant.
Frontends are as valuable as backend applications.
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Are Layer 2s Superior to Alt-1s for Scaling Capabilities?
Traditional monolithic execution layers rely on 1000s of block producers and non-producing full nodes, requiring a majority of them to act honestly.
In contrast, layer 2s only require a single honest "Sequencer" to
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#Rocketpool
can make
#ethereum
#decentralized
and
#censorship
resistant
To become an Eth validator, you require two resources one 32Eth and hardware required to run node software. if you don't have the required 32eth then you can give your money to the staking pool they will
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1/ During the recent bull run, people have paid 100 dollars in gas fees for transactions on Ethereum.
Here are three ways you can reduce your gas fees by 5 times:
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@AdrianoFeria
Good episode in a while, but saying "Sell pressure is not a cost." & "TVL doesn't matter" is crazy.
we can see that Toly is a great engineer, but doesn't have good takes on token economics.
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Will the new hyper-scalable blockchains launching this year—
@Sagaxyz__
,
@berachain
,
@monad_xyz
,
@EclipseFND
gain enough adoption?
Fees on
@base
,
@solana
,
@arbitrum
are already below 1 cent and expected to decrease further by the time these new blockchains launch, lower
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@JasonYanowitz
@zksync
This activity is likely driven by airdrop farming. The stablecoin market cap and TVL haven't grown proportionally to the increase in transactions, active addresses, and addresses deploying contracts.
Curious to know your thoughts.
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Tl;dr: Validity proofs make execution layers faster, cheaper, and easier to verify than monolithic execution layers and optimistic rollups in theory.
Read the full post at:
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I have been using
@MetaMask
for 4 months the UI really sucks.
Which wallet should I switch to?
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As the gas fee on the
@base
decreased, transactions increased. The underlying principle is that as the prices of a product decreases, the demand for the product increases.
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pay attention to:
-
@base
: On-chain growth has been crazy.
-
@ton_blockchain
: Telegram activity pushing Ton over other chains.
-
@solana
: On-chain growth has been crazy.
-
@megaeth_labs
: Will be crazy fast & cheap. New kinds of apps are being built.
-
@soneium
: Sony’s
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In the top 20 projects based on fee 14 of them are applications, why are Apps so undervalued compared to infra?
Apps will have a major rewrap in the price soon.
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This asymmetric trade-off suggests that layer 2s will consistently deliver high throughput and significant performance advantages, even when the same hardware is employed by both layer 1 and layer 2.
This is due to the inefficiencies of synchronization time between 1000s of
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Don't lose your crypto assets to negligence.
6 tips that will keep your wallet safe and secure:
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1/ Imagine purchasing a car and not having the right to sell it.
That would feel like a scam.
Now imagine spending thousands of hours creating content and not having ownership—that's most of the web2 platforms right now.
Top web3 Tools to own your work.
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Existing businesses will adopt blockchains bc they can increase profits.
Carrier Has Arrived 👀🥁
2 large US carriers have initiated tests to offload their traffic onto the
@Helium
MOBILE Network, and the results are lighting up the charts!
Decentralized networks are here to support existing telcos, and the big players are in. Let's go! 🔥
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@Delphi_Digital
Telegram's integration with the TON blockchain is not just bullish for TON, but for entire crypto. More sophisticated users will move their funds to chains where the yield is high, they won't simply stay on TON if the yield is low.
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Signing one wrong transaction can cost you everything.
Only connect your wallet to websites you trust and
bookmark the websites you use.
Read the transaction data before signing any transactions.
Don't sign if you don't know what you're singing
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More u learn about L2 scaling, the more u appreciate
@megaeth_labs
.
Currently, execution is the limiting factor, not DA(because of EIP-4844), MegaETH is solving this.
MegaETH is building:
- Highly-optimized sequencer node for large-RAM machines
- EVM bytecode to native code
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#11
What I Read This Week...
- Puffer finance using intel SGX,
- Token market fit,
- Consumer apps undervalued,
- Intent-based systems,
- Tokenize everything…
🧵1/
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Teams using retail/community as exit liquidity.
Most new L1s, L2s, and AppChains are launching with high FDV and early token unlocks for investors/teams, letting them use retail/community as exit liquidity.
Projects should have longer token unlocks spanning multiple years.
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In the past 3 months,
@AcrossProtocol
Bridge volume has grown 235%, while
@wormhole
decreased by -52%.
3 Months Bridge Volume:
- Across = 49m
- Wormhole = 19m
Power of Intent protocol in action.
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2/
@azuroprotocol
's monthly volume for April reached $70 million, a threefold increase from last April's volume. Transactions on Azuro have doubled over the same period.
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#Rocketpool
can make
#ethereum
#decentralized
and
#censorship
resistant
To become an Eth validator, you require two resources one 32Eth and hardware required to run node software. if you don't have the required 32eth then you can give your money to the staking pool they will
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Let's talk about L3 chains.
Most people's argument for L3 chains is that they are cheaper than L2s.
- But L2s are already inexpensive, costing below 10 cents. 10 cents is not an issue if you're doing any DeFi activity.
- bridging exp is not ideal.
- if L2 goes down L3 goes
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3/ I'm bullish on
@OstiumLabs
. The first versions of RWAs on chain will likely be perpetuals rather than tokenized versions. Most communities trade with 10x to 100x leverage because price actions are slow, so traders expect large leverage. T
two main issues are getting
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2/ DA
- With the introduction of blobs (EIP-4844), the cost of posting transaction data has been reduced by 17x.
- Before EIP-4844, posting 128kb cost $76.
- With Blobs: Posting 128kb costs only $4.
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4/
@azuroprotocol
appears to be the clear leader in terms of metrics. Unlike other prediction markets, it is not merely a casino but a comprehensive infrastructure and liquidity layer for gaming and gambling protocols to build upon.
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@jessepollak
Don't bridge using
@coinbase
Wallet built in bridge option.
Funds deducted on
@base
but never added to
@0xPolygon
.
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EVM compatibility is Everything:
- Bootstraping DApps eco is easy.
- Users can use your chain through the MetaMask.
- Integration with existing analytics platforms would be straightforward.
- All current development tools, such as Hardhat, Foundry, and others, could be utilized.
Men will feign ignorance than study network effects theory. "Why do people still invest in EVM/Solidity?" is the same as asking:
- "Why do people still invest in JavaScript?"
- "Why do people still invest in Python?"
- "Why do people still invest in Rust?"
I've never written
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@VitalikButerin
@TrustlessState
Who are the customers of Ethereum: solo stakers or the applications?
How is it possible for someone to afford 32 ETH but not have access to good bandwidth?
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TEE Wiki: List of reads/talks related to TEEs
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5/ By following these tips,
1. Timing the transaction.
2. Use the "low" gas option.
3. Use Ethereum Layer 2s.
you can significantly reduce the cost of your transactions on the Ethereum blockchain and make your transactions more affordable.
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@ayyyeandy
It's going to be AI x Crypto because it is easy to understand.
Modularity is hard to understand for non-crypto people.
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1/ Innovation overload in the modularity space!
It's hard to keep track of all the awesome projects launching.
That's why I'm curating them all at
Here's a sneak peek of some projects:🧵
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Action Step
If you are a validator use rocket pool
At least share the word to use rocket pool.
#Etherum
#Decentralization
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This is huge.
@arbitrum
was First to stage 1 and now first to stage 2.
Fraud Proofs took us to a Stage 1 rollup.
Today, with BOLD, we’re on our way to becoming a Stage 2 rollup!💙
BOLD, permissionless validation on Arbitrum, is now live on testnet! 🧵
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For those who underestimate network effects, consider this:
- A USDT transfer on Tron costs $1.60, more than on Ethereum.
- Yet, Tron had 2.21 million active addresses in the past 24 hours, more than any other chain.
Understanding network effects is crucial if you are in web3.
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Are you a writer looking for a platform where you can own and control your own content?
Look no further than
@viamirror
, a blockchain application that runs on the Ethereum layer 2 platform Optimism.
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Layer 2s, on the other hand, are inherently more scalable and can effectively utilize high-end hardware without compromising decentralization.
For example,
- ZK execution layers require only a handful of powerful machines to handle transactions, generate proofs, and submit
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I was just writing to clarify my thoughts and deepen my understanding of the Web3 space. However, it's delightful to see my writing being helpful and getting collected on Mirror!
Everyone should consider writing online.
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Cosmos and Polkadot were ahead of their time with their multi-chain thesis, yet somehow, these ideas have been more effectively implemented within the Ethereum ecosystem.
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36 active Layer 2s, Who will take the Market share?
Layer 2 networks are created to scale Ethereum without compromising decentralization or security.
However, in the current state, layer 2s are neither as cheap as we'd like nor decentralized.
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1/ The Internet made English the primary language and Crypto made Dollar reserve currency.
Stablecoins account for 70% of all transaction volume ($USD) on blockchain networks. Over the past five years, stablecoins have grown over 100% year-over-year.
Stablecoin Current Market
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1/ Where does Ethereum fit in? With the launch of numerous L2s, L1s?
Despite high gas fees and low TPS rates, Ethereum continues to lead in several key areas:
- Total Value Locked (TVL)
- NFT volumes
- Stablecoin market cap
- Developer activity
🧵
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29
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6/ Gradually, Web3 prediction markets are likely to capture Web2 market share because they offer greater transparency, enhanced liquidity, and the flexibility to set up markets for any type of betting.
Read article here:
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7/ Finally, as new app chains/L2s are launching, the demand for Blobs increases, and DA will become the bottleneck if Ethereum doesn't increase the number of blobs per block.
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Everyone Cosmos, Polkadot, and Ethereum, seems to be converging towards a similar vision - Application chains.
Singularity moment.
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5/ The global online sports betting market size had a value of approximately USD 54.56 billion in 2023 and is projected to reach around USD 142.56 billion by 2032
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3/
@Polymarket
's monthly volume for April reached $26 million, which is an eightfold increase from last April's volume. Currently, Polymarket is exclusively available on Polygon.
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@MKjrstad
People who are staking with
@LidoFinance
,
@binance
,
@coinbase
,
@ankrstaking
,
@krakenfx
,
@Allnodes
, and a few more are in great danger.
How come those teams do not understand this:
Better to move to Rocketpool,
@stakewise_io
.
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@Dynamo_Patrick
Reading philosophy books. In the hope of finding a purpose in life.
I am reading the book 'Freedom from the Known' and I plan to share my daily learnings in this thread.
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@77MichaelR
@ChainLinkGod
Added this
Ipfs
decentralised storage ,this is cheaper that AWS,Google cloud
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8/ L2 team needs to work on data compression, Increase the r/w speeds, Parallelization, and Improve hardware efficiency to increase TPS and reduce gas fee.
read the full article:
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What about the economics of Monolithics and Layer2s?
- Monolithic execution layers demand 1000s of nodes to reprocess all transactions, Let’s say a monthly cost of $2000 per node. This translates to a total economic cost of $2 million per month.
- In contrast, validity-proven
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Are Layer 2s Superior to Alt-1s for Scaling Capabilities?
Traditional monolithic execution layers rely on 1000s of block producers and non-producing full nodes, requiring a majority of them to act honestly.
In contrast, layer 2s only require a single honest "Sequencer" to
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0
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3/ What can Rollups do to reduce DA cost and pack more data?
Compress the transaction data before posting: According to Vitalik's post, a transaction takes up around 180 bytes, which can be reduced to 25 bytes using compression techniques.
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If You Know the Following Basic concepts about
NFTs
Tokens
Private keys
seed phase
Then You are head of 90% of crypto Investors
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4/ Use Ethereum Layer 2s.
By using these solutions, you can save up to 100 times on gas fees compared to using the Mainnet.
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yep, Soon DEXs UX will be the same as CEXs with near zero gas fees and smart wallets powered by passkey.
crypto twitter loves to debate L1s, but the silent battle is between CEXs and DEXs
and DEXs are winning
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1/ Thoughts on Solana.
Solana has become the de facto chain for launching meme coins because of its lower gas fees, faster transactions, and good user experience. Solana’s DeFi ecosystem is growing rapidly in lending, liquid staking, and perpetual space.
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Infra is ready to create on-chain Dexs that provide binance level experience.
Wallets as a service, smart wallets, paymasters are so mature.
And gas fees are also low.
first DEX to reach the 'binance, but onchain' status will be worth tens of billions.
There are many more points needed I think to make it a global phenomenon, but that should be the basis.
What's needed in 10 points :
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Most people in crypto say
"we’re soooo earllyyyy"
that's not true. it’s almost 2024, the crypto is almost 15 years old.
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5/ What can Rollups do to improve Execution layer Throughput?
a) Increase the r/w speeds: As the state grows larger, lookup times become larger, increasing the transaction execution time.
we need New data structures that make state access/ updates faster to make state growth
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User2 - Node providers
With
#Rocketpool
, running a node only requires a minimum of 16 ETH per validator vs 32 ETH outside of the protocol. Once you deposit 16 ETH, the protocol will assign you 16 ETH from users who are depositing ETH and receiving rETH.
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At this rate
@base
will be the cheapest blockchain to use in less then 2 months.
Hopefull,
@base
will serve as an example to demonstrate why Rollups can scale more effectively than layer 1s.
.
@base
on the race to 1 Giga gas per Second (1 Ggas/s) - but what does this mean and why is this their goal?
Just 2 days ago, Base's gas target was increased from 7.5Mgas/s to 8.125Mgas/s. This is the 5th gas target raise in the last 3 months. Now offering 7Mgas/s more per block
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When the Blockspace utilization on a Network increases, network gas fees increase exponentially. We have seen this with Ethereum, Solana, and Base.
This issue will be solved by ZK-Rollups, where more users utilize the network gas fee decreases.
Solana's usage is so degraded
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@the_defi_report
@solana
@circle
Solana transfer volume tanked after June 10, any thoughts on why this happened?
@the_defi_report
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