Weekly Editors' Picks Weekly Editors' Picks (0625-0630)
"Weekly Editor's Picks" is a "functional" column of Odaily. On the basis of covering a large amount of real-time information every week, a lot of high-quality in-depth analysis content will also be released, but they may be hidden in the information flow and hot news, and pass you by.
Therefore, every Saturday, our editorial department will select some high-quality articles that are worth spending time reading and collecting from the content published in the past 7 days. You bring new inspiration.
Now, come and read with us:
Investment and Entrepreneurship
Therefore, every Saturday, our editorial department will select some high-quality articles that are worth spending time reading and collecting from the content published in the past 7 days. You bring new inspiration.
Now, come and read with us:
veDAO Research Institute: How to judge the quality of an X to Earn project economic model?
Dig deep into the airdrop hunter, is it a "free ride" or a high-quality user?
A good economic model should have the following characteristics: low inflation rate, high incentives, low selling pressure, rich usage scenarios, sufficient liquidity, and the main group of governance comes from the B-side, etc.
A good product is the key to user retention.
Dig deep into the airdrop hunter, is it a "free ride" or a high-quality user?
Most of the airdrop hunters are actually early users of Ethereum, and they are mainly real high-quality users. Advanced airdrop hunters average over 50 transactions per month on Ethereum, and standard airdrop hunters also make over 21 transactions per month.
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Hunters are very concerned about the industry influence of the project, and at the same time prefer L2 projects.
CeFi
How to effectively combine liquidity and PoS? Take Berachain, Tenet, Mangate as examples
While protecting the security of the public chain, the PoS mechanism also occupies a large amount of funds, resulting in a low utilization rate of these funds. And DeFi is often criticized. Liquidity has no loyalty, and projects are prone to fall into a death spiral. How to combine the two so that liquidity can participate in protecting the security of the public chain while gaining benefits?
Berachain hopes that liquidity can be more sustainable, and forms a flywheel between liquidity and token demand with the three-token model; Tenet adopts diversified equity proof and liquidity staking, and hopes to use other PoS tokens to increase its own Network security; Mangate uses LP tokens as pledged assets to release pledged liquidity. These improved PoS solutions can increase capital efficiency. While obtaining block rewards, they can also obtain transaction fee rewards from DEX and block rewards from other blockchains, increasing the use of PoS assets.
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Interpretation of Chainalysis Research Report: How do retail investors, veterans and institutions contribute value to exchanges?
DeFi
User churn rate: The churn rate of late professional and late retail wallets in CEX is low, less than 1%; on the contrary, the churn rate of retail investors is as high as 15%.
Derivatives DEX track overview: Will it dominate the next round of bull market?
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Fee Structure Comparison
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Index comparison
According to the metrics, Level Finance is the most undervalued platform. In addition, Level Finance has the best token economics, and the LVL + LGO momentum is indeed very strong.
MUX has the best TVL/Volume ratio, which indicates high capital efficiency.
GNS and Kwenta are great picks for the next bull market as they generate high revenue and have low to mid market caps.
In-depth interpretation of the re-mortgage track: working principles, advantages and disadvantages, and potential projects
NFT, GameFi, and the Metaverse
The author believes that ReStaking is not a rapidly disappearing narrative, but one of the most important and promising areas in DeFi. Because ReStaking not only helps users earn profits, but also helps platforms improve their security, especially by promoting growth in other areas of the industry and driving market expansion. However, this also comes with risks such as asset loss, smart contract risk, property value inflation and bubble collapse, etc.
Web 3.0
The abstract ecology of bottom-up accounts: what wallets and infrastructure are worthy of attention?
NFT, GameFi, and the Metaverse
The data reveals whether the growth of the NFT market in 2023 will benefit from the entry of new funds or the involution of old funds
The NFT market is generally growing. The amount of new funds mainly comes from new entities, while the amount of funds invested by at least some old entities in the NFT market is shrinking. The proportion of transaction volume and capital volume of old entities is roughly at 55% -70%. Old players (old entities) are the main contributors to the activity of the NFT market, while new entrants (new entities) outside the market are the source of new momentum in the NFT market.
In order to improve user experience, EIP-4337 was proposed, aiming to solve the complexity of user experience through Account Abstraction. The implementation of EIP-4337 not only improves user experience, but also brings more customization and functionality to Ethereum, such as custom signature options and different payment methods.
How to abstract accounts to empower infrastructure and serve billions of users?
The AA wallet ecology includes:
How to abstract accounts to empower infrastructure and serve billions of users?
Bitcoin ecology
In the future, as the AA ecosystem continues to grow and public mempools emerge, strategies for selecting and packaging UserOperations will become more complex. Under different market Gas prices and Gas volatility conditions, Bundlers may have different packaging strategies.
secondary title"/-/content/:"Bitcoin ecology"/content/"The battle between true and false punks: Recursive punks on the pure chain are actually stored on Github?
After the launch of Recursive Inscriptions, it ushered in the launch of the first Recursive Punks (Recursive Punks). Under the enthusiasm of the community, 10,000 Recursive Punks were quickly burnt, and then quickly launched on the MagicEden market, and traded on the platform within a day The amount reached 8.15 bitcoins, making it the number one series in terms of total transaction volume on the platform.
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Explain in detail the new gameplay and representative items of interactive recursive inscriptions
As a result, Recursive Punks has two versions, the official version v1 released by the official and the v2 version initiated by the community, and the v2 version has also been officially recognized by Recursive Punks, triggering a dispute between true and false recursive punks.
Investing in such assets carries substantial risk.
Ethereum and scaling
Explain in detail the new gameplay and representative items of interactive recursive inscriptions
"Interactive" will give the inscription NFT more new ways to play. "Recursive Playground" is the first interactive recursive inscription NFT project. As its beta version shows, users can change the state of the screen by simply dragging the mouse. From the perspective of "Recursive Playground", interactive art is the unique artwork created in real time by personal inspiration and computer interaction in some way.
Interactive recursive inscription projects also include Fservin (Twitter @fservin), Speculum Aeternum Miraculum (Twitter @const_quary), Recursive Doodinals (Twitter @rcsvio), Vibeland (Twitter @vibelandwtf).
Ethereum and scaling
LSD MAP 2.0
If a software is truly free, it must have four different freedoms—free use, free learning, free sharing, and free modification.
There are also four levels of openness (cryptocurrency projects are at different stages of openness): the most common and most visible at the beginning is openness, then control and contribution, not only internal contributions can be made, but also external contributions can be made, Github Contributors, open source contributors can also contribute to the project. People can also come in and join governance, as long as he is a stakeholder and as long as he is willing to contribute. Finally, more philosophical, welcome competition. These four kinds of openness make Ethereum very successful.
LSD MAP 2.0: Multi-dimensional interpretation of the development of the LSD track
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The LSD track has formed a preliminary pattern. If it is divided into levels, DVT technology service providers such as SSV Network and Obol Labs can be regarded as L0. DVT technology can make the verifier more stable and more secure to exercise the signature responsibility. As the first project in the hierarchy to issue tokens, SSV Network has a first-mover advantage in terms of brand awareness. LST issuers such as Lido, Ankr, and Coinbase can be regarded as L1. L1 is mainly a commission model, and the main benefit point for users comes from the POS income of ETH. L2 is a fixed-income product designed based on LST. Stable coins, income aggregation, etc. occupy the L3 level, which is often referred to as LSDFi.
This paper adopts the product established based on L2 as the definition of L3. The StakeDAO, Equilibria, and Penpie triggered by Pendle War conform to the definition based on L3; AcidTrip, which automatically reinvests 0x Acid; and gUSHer, which simplifies unshETH operations and improves returns; it can be seen that the mainstream is still the governance rights competition caused by veToken. There is a lot of room for imagination at this level, not just L2 tools and aggregate governance type projects. For example, the L3 of multiple L2 products, the front end of the aggregation strategy.
With the emergence of leaders in L1, except for internal or systemic risks, time and space conditions do not allow new TOP 3, rookies will have.
A large part of L2 does not have a moat, and the test team and BD capabilities are more. The more LST-based basic DeFi strategy projects, the more prosperous L2 will be.
L3 market value/liquidity is limited by the development level of L2 products, and there is a lot of room for imagination, and it will take a certain amount of time to develop.
LSDFi will undoubtedly promote the increase of the pledge rate. The LST generated by pledge can enter a variety of projects to earn multiple incomes, reduce opportunity costs, and even earn excess income. However, at the current L2 level, there are no projects that can carry a large amount of ETH. Many LSTs in L1 are not used in L2, so there are still huge investment opportunities in L2. A high-quality project should be a combination of real income + application scenarios + good Tokenomics. At present, there have been real income + veToken projects headed by PENDLE at the L2 level, which basically meet the above conditions.
A quick look at the evolution of Ethereum scaling solutions: OP Stack, Arbitrum Orbit, Polygon 2.0...
Web3 developers currently have three options:
Deployed on Ethereum, but at the expense of scalability.
Choose an L2 solution, but risk being dependent on a specific ecosystem.
Deploy and maintain your own chain, but may result in liquidity fragmentation.
Additionally, achieving interoperability is a major challenge.
Bankless: The Prosperity and Dilemma of Optimistic Rollups
DAO
Competing parties must be able to submit fraud proofs at the L1 level, since the rollup protocol interprets the absence of any challenge as an implicit agreement to its state. Potential censorship of fraudulent proofs due to collusion at L1 would invalidate point 2 and thus rollup's security promise.
Optimistic rollups remain vulnerable, and the attack surface will only grow with their increasing success. However, in the face of the reality that Ethereum’s social consensus may not be able to save exploited optimistic rollups, it is imperative to seek alternative scaling solutions.
Optimistic counterparts are easier to implement and dominate the Ethereum L2 space today, but zkRollup could disrupt the current paradigm, offering instant confirmation, faster finality, higher throughput, and native privacy. Vitalik also pointed out that rollup may rely on Ethereum to fork and recover funds, which is a high-risk consensus application and thus may lead to chain splits.
While some protocols have directly sold entire airdrops to fund their own operations, we believe that these funds will be used to fuel protocol growth and indirectly benefit the entire Arbitrum ecosystem.
hot spots of the week
In the past week,Some sellers portray themselves as running DAOs with community governance, but they are reluctant to share distribution plans with their communities. Ideally, these projects will: reserve tokens for future Arbitrum governance; redistribute their value to the community to incentivize product growth within the Arbitrum ecosystem.，To further align incentives, future governance airdrop distributions may place constraints on certain token behaviors, such as restricting sales or enforcing long-term redemptions. Nonetheless, we believe the current distribution is fair and a natural selection of which protocols are more in line with the Arbitrum ecosystem and which are not.，hot spots of the weekIn the past week,$5.5 million traded on first day, The Wall Street Journal:ARK Invest Amends Bitcoin Spot ETF Application Information；
, or prompt it to obtain approval opportunities before BlackRock, people familiar with the matter:Fidelity to File for Spot Bitcoin ETF，, The Wall Street Journal:；
FTX Begins Negotiations on Restart PlanIn addition, in terms of policies and macro markets, the Financial Secretary of Hong Kong:Cooperation with the central bank on digital renminbi cross-border retail payments enters the second phase of testingIn terms of opinions and voices, Ark Invest:；
Institutions, large companies and top projects,Bitcoin has reached an important turning point，, V God:，MPC-based EOA wallets are fundamentally flawed, smart contract wallets are the only option，Institutions, large companies and top projects,Compound founder launches new company SuperstatezkSync launches ZK Stack, a modular open source framework for building Hyperchain，Circle's cross-chain transfer protocol CCTP has been launched on ArbitrumOPNX Launches First Launchpad Project Raiser, 10% of RZR tokens will be distributed to OX stakers,，StarkWare Unveils Cairo Roadmap；
NFT and GameFi fields,, the contract syntax and V2 version will be updated,Mirror Announces Writing NFT 2.0Horizen plans to abandon the main chain shielded pool, ZEN will no longer be considered a privacy coinNFT and GameFi fields,Azuki Elemental Beans Completes Sale，Azuki, held by a total of 5,862 addresses,，The team has transferred the 20,000 ETH obtained from the Elementals pre-sale to the multi-signature address, Azuki responded to the image collision:Due to a technical glitch, efforts are underway to restore correct images and metadataOr will airdrop "Mung Bean" NFT to holdersUnderestimated community sentiment, overestimated delivery product...well, another week of ups and downs.
With "Editor's Picks of the Week" seriesPortal。
See you next time~
