arndxt (@arndxt) • Hey
Slumbered in the depths of 🛸 | 🍄 | 🧠
@parallaxfin
Publications
- BlackRock Paradox: From Criticizing Crypto to Embracing Bitcoin ETF
Blackrock CEO Larry Fink called crypto an index for money laundering.
Today, it filed for the Bitcoin ETF with a track record of 99.9% success rate.
My thoughts on both bullish and conspiracy theories for what it means when up to $10b AUM "buys" up $BTC 🧵
Twitter: https://twitter.com/arndxt_xo/status/1671125789528690688
Full article: https://threadingontheedge.substack.com/p/blackrock-paradox-from-criticizing
- 🦄 Uniswap V4 Revealed 🦄
5 years old, 4 versions and at the frontier of innovation for AMM design.
The battle for the best DEX domination 🧵👇
Twitter: https://twitter.com/arndxt_xo/status/1669013453489717250
Substack: https://threadingontheedge.substack.com/p/uniswap-v1-to-v4-a-tale-of-innovation
- All that you need to know about a $230b of $ETH valuation.
In a single page👇
(RT and Bookmark this so you don't lose it)
- Crypto market is in a bloodbath.
Could @ScimitarCapital liquidation of $2b of alt coins be the beginning of a contagion that is more painful than FTX?
Here I'll present some contrarian metrics, where we could be in for a bullish reversal
Thread: https://twitter.com/arndxt_xo/status/1667569975371137024
Uncensored article: https://threadingontheedge.substack.com/p/crypto-bloodbath-analyzing-scimitar
- $PENDLE investors made a whopping +1000%, from exactly 1 yr ago.
@Equilibriafi lets you earn more $PENDLE.
Aims to be the blue chip protocol on top of @pendle_fi
Built on the hottest LSDfi narrative
@Equilibriafi sets itself to be an advanced Convex on Pendle
https://twitter.com/arndxt_xo/status/1666074394173804544
- ToE's Weekly Highlights #30
🔹Macro: Economic indicator looks good
🔹Trend: Dino coins pump, BTC gaining traction
🔹Defi: zkSync gaining TVL, Islamic coin
🔹Tool: Crypto tinder, Spoofing, Mest AI waitlist
🔹Spicy Drama: Chibi drama, diff view to Camelot grant
https://twitter.com/arndxt_xo/status/1675463084914401280
https://threadingontheedge.substack.com/p/toes-weekly-highlights-30
- Momoka data scaling for Lens doing well, we reached 300k transactions 👏
- EXCLUSIVE: We spoke with the 19-year-old hacker who stole $200M in 2023’s largest crypto hack.
Three weeks later, he returned all the money he stole.
This is his story ⬇️
[He stole $200 million. He gave it back. Now, the hacker is explaining why](https://www.coinage.media/)
For the first time, the man behind 2023's biggest crypto hack explains himself
- ChatGPT cheat sheet for all the commands that you need to know
Free collectible for following me 😎
- Uncovering promising protocols in their infancy can reap lucrative rewards.
Tokenless, strategically fundraising and tokens that TGE-ed within 24 hrs, these protocols hold untapped potential.
5 young projects packed with strong growth elements 🧵
Thread: https://twitter.com/arndxt_xo/status/1664683306724790272
Unrolled article: https://threadingontheedge.substack.com/p/lucrative-finds-exploring-5-young
- Meme season left the market. It was thirsty for liquidity, overshadowing projects with solid foundations.
Time to refocus and avoid chasing meme pumps.
Here's 12 projects that stood out with strong catalyst ready for moonshots 🧵
@parallaxfin
It powers APYs with meta-LSD strategies.
Talks with big partners, novel tokenomics to $PLX boost mechanics.
One to biasly watch
It's screaming risk free rewards with an audited vault in incentivised alpha testing. iykyk
https://twitter.com/0xFinish/status/1661457795353567232
@gusher_xyz
It boosts your APYs while getting you to deposit with Gusher instead.
The convex equivalent in the LSD space, which will further boost TVL for @unsheth_xyz
It will be interesting to watch for its launch.
https://twitter.com/gusher_xyz/status/1659348868427816960
@unsheth_xyz $USH
Started as an incentive layer to boost yields but transitioned into a multichain LSD liquidity hubIt'll be adding more LSDs + Gusher + VDOs launch
Its now deployed on @arbitrum, so I would see more Arb eco partnership and TVL.
https://twitter.com/LandfSmile/status/1659859234601984000
@Root_Genesis
Built on @LayerZero_Labs, aims to be the MacOS of Defi.
Products: LSDfi, Incubator for sub-procotol @LimitlessFi_, DEX, Lending and all accruing value to veROOT/xROOT holders
Strong ongoing partnerships
Airdrop confirmed
Initial FDV 3m
https://twitter.com/Root_Genesis/status/1660718627119570960
@OriginDeFi is a LSD yield aggregator.
Product: Interest bearing stablecoins and LSD.
Mint $OETH with ETH LSTs.
$OETH earns yield by optimizing between ether liquidity provision strategies and liquid staking tokens.
https://twitter.com/OriginDeFi/status/1658503224356139009
@Equilibriafi
Yield booster on top of @pendle_fi with extra $EQB rewards and aims to be the LSD asset aggregator for the Pendle eco
IDO raised 1.5m
Product launching in early June
Got strong support from Pendle
https://twitter.com/Equilibriafi/status/1658782608376102915
@Penpiexyz_io
Similar to @Equilibriafi its a yield booster on top of Pendle.
Convert $PENDLE to $mPENDLE on Penpie and earn max $PENDLE rewards. Penpie then locks $PENDLE to $vePENDLE on @pendle_fi.
Launching on @CamelotDEX
Single digit FDV
https://twitter.com/Penpiexyz_io/status/1658891010573836300
@Buffer_Finance $BFR
Option trading protocol
Proposal to burn 30mil tokens and reducing max supply by 50%. Simple economics tell you that with a constrained supply, fess per token up, more demand, price goes up.
Chart looks bottomed
MC 4m
FDV 15m
https://twitter.com/Buffer_Finance/status/1661797484891369475
@Level__Finance $LVL
Perp DEX that started on BSC and expanding to @arbitrum. Can expect more volume and more fees.
Hayes has $LVL bags
Though criticised for wash trading but am still bullish as it should catch some Arb trade vol.
https://twitter.com/resdegen/status/1661735176114937856
@sector_fi $SECT
3 products:
▫Risk engine; pricing risk in APYs
▫Single-strategy; LP vaults
▫ Vaults; aggregate APY from various LP strats
Incubated by @neworderDAO
MC 600k
FDV 7m
Fee sharing on, we could see some buying pressure.
https://twitter.com/sector_fi/status/1661832009147383809
@neworderDAO $NEWO
Incubation DAO with many good projects (debatable). Recently they have a discussion about fee sharing for stakers/lockers.
Looking at 3 options:
▫Lockers or Shakers get 20% of incubated projects token
▫None
https://commonwealth.im/new-order-dao/discussion/11506-new-order-token-utility-discussion-part-2
@EverywhereFi $REUNI
First multichain wallet project built on @LayerZero_Labs with the v2 release on 15 Jun. Feeling the pumping vibes of @FinanceChainge during its run.
Low MC of ~$2.2M.
I'd be careful since its a wallet token.
https://twitter.com/EverywhereFi/status/1661689110531125249
- ToE's Weekly Highlights #25
🔹Macro: Debt ceiling raised
🔹Trends: Metaverse, Chain Abstraction, Index products
🔹Defi: LOTUS, JIMBO, KARROT
🔹Tools: VC investments tracker, @Delphi_Digital null package for alpha tools
🔹Drama: Multichain, Ledger
📩📭 (link in bio)
https://twitter.com/arndxt_xo/status/1663010896023797762
- A commodity super-cycle could be primed in 2023 and RWA will ride it.
@GoldmanSachs points to a strong outlook for commodities given constrained raw materials and a perfect macro environment.
Don't take your eyes off this, for it may be one that galvanizes this mega cycle🧵
https://twitter.com/arndxt_xo/status/1661296075888816128
I've hung out around the @landxfinance team to bring you deep insights that they have shared with me to dominate the RWA space.
1️⃣About Landx
2️⃣RWA narrative
3️⃣Building a RWA lego future
4️⃣Legal challenges
5️⃣Partnerships
6️⃣Roadmap
1️⃣About Landx
LandX aims to be the marketplace for agricultural assets and tokenising them on-chain such as WHEAT, SOY, CORN, RICE, which are widely traded.
Investors can but into a basket that consists of these assets with equal weights.
Their on-chain commodities are built around 3 parties:
▫ Farmers; get business financing from Landx's investors
▫ Validators; onboards new farmland and legal processes between farmers and Landx
▫ Investors; deposit into Landx perpetual commodity vaults
Each party earns a fee by playing their part in this tokenisation process.
▫Farmers: pays Landx a rent (crop-share) for land usage
▫ Validators: receive a 1% commission
▫ Investors: earns promised APY
$LNDX stakers earns protocol revenue
2️⃣RWA narrative
This narrative might be slow to mature in Defi, but I am certain that it will have a second run.
Here's my take on the RWA landscape. You might have read it already so what matters here more is what the Landx team thinks.
https://twitter.com/arndxt_xo/status/1652998815732076545
🏞️ Landx point of view
RWA story is taking off as new concepts and protocols are put into practice on various blockchain networks.
While investors want greater stability and a reliable source of profits the can't forget the rollercoaster ride of last year.
There's always the same same few longstanding asset but this is set to change the mood as RWA offers a new source of value.
Landx see RWA as a tool that diversifies investment portfolios and opening the flood gates for liquidity into the cryptocurrency market.
This move towards real-world assets is intriguing, and Landx is well prepared for how RWA will evolve and will continue to shape its influence in Defi.
3️⃣Building a RWA lego future
Tokenization gets interesting when we think about the interaction between assets and on-chain.
Imagine a future with RWA tokens being infused into Defi apps. Pretty bullish on the future potential.
Landx have 3 tokens with the first 2 being fundamental to building a lego block future:
🟡xTOKENS are minted when crops grow. Farmers sell and investors buys them.
🟡xBASKET is an index token that represents a basket of equally weighted xTOKENS.
🟡cTOKENS represents yields on xTOKENS. They are linked to RWA commodities prices with Chainlink oracles. You receive cTOKENS everyday rather than at the end of 1 year.
🏞️ Landx point of view
Core team at Landx see their core products being xTOKENS and xBASKET as lego pieces that will easily be integrated in other protocols and used as yield bearing assets by the defi natives.
Non-inflationary yield is what Landx brings to the table, in the end you are paid in terms of agriculture commodities.
But Its always a challenge to introduce a new asset class in DeFi.
To bridge this gap, Landx will build good content around their product and educate people regarding the RWA space.
So, people will be able to develop their own conviction towards this new asset and create a sensation within their communities.
4️⃣Legal challenges
RWA here is a tricky asset to tokenize because it touches upon issues regarding legality. And the law always aim to protect people's interest from bad actors.
Landx cannot escape compliance issues and they understand it as well.
https://twitter.com/arndxt_xo/status/1652998881888841728
🏞️ Landx point of view
Landx has a legal team that helped them to navigate through the compliance landscape.
But mass adoption is still being hindered. The regulatory frame work in certain jurisdictions are unclear and Landx's products can't be offerred there.
5️⃣Partnerships
Here are the current partnerships:
@GammaStrategies.
@MatrixedLink.
@MentholProtocol.
@RevestFinance.
@Tide_web3.
@Quantstamp.
@Hold_Station.
@xhashtagio
Its already looking strong now based on what they have but could more be hidden under their sleeves?
🏞️ Landx point of view
They have a big pipeline of partnerships that are pending for integration. I can't share the names until they are official, but you can expect some prominent og protocols and new ones to join thier partners list.
Landx will work on further decentralization (as far as its possible in this stage) i.e. decentralized proposals to acquire new farmland
Partnerships with analytics provider here is of their interest.
The team wants to be transparent while presenting critical data to its users.
They are also in active discussion with a partner to build an insurance product that would alleviate the risk for the real world farmers.
6️⃣Roadmap
They are on goerli Testnet for some time though the dapp is basically ready to deploy. (get in now while you can)
For fundraising, private round is closing and they will be moving onto the public sale.
🏞️ Landx point of view
Don't worry as there are more opportunities to participate as community members. After the tge, they'll deploy our first products and the partnership integrations will kickstart.
In the near term, the team is clear on what they set to achieve.
Landx team will work on building cross-chain capabilities and liquidity.
Another aspect is security, the team takes this very seriously. So you can expect bug bounties and similar efforts to level up security.
Beyond that, the team has big dreams for the project.
They plan to become one of the biggest loan providers to small to medium farmers around the globe.
Though it is still a long way to go to put all the ducks in the row, they are confident that their team can deliver.
RWA is also an big terriority that is still untapped and Landx is an obvious pioneer here.
That's why they think that agricultural finance can bring a gasp of fresh air to the space while offering investors the opportunity to create a RWA future.
- Worries grow over US financial market conditions
US financial market conditions under scrutiny as banking crisis triggers concerns of a credit crunch and stricter lending standards.🧵
https://twitter.com/arndxt_xo/status/1659442132644679681
Another series Macro Pulse Update 19.05.2023 by Threading on the Edge!
Looking just slightly rosy with all the things that are happening around us.
1️⃣ Lending standards tighten
2️⃣ Inflation on the right track
3️⃣ China slowing but strength is present
1️⃣ Lending standards tighten🔴
US financial market conditions raise concerns. In the Fed's latest report, it highlights the risk of a credit crunch that could slow the economy.
Lending standards are tightening as banks fear deposit flight.
https://twitter.com/SquawkStreet/status/1658516860592062477
The banking system remains relatively safe, but some medium-sized banks face challenges.
Excessive exposure to commercial property, combined with remote work trends and accelerated online shopping, impacts office and retail spaces.
Worsening with higher interest rates.
This could lead to revenue decline and difficulty in servicing bank loans. Opportunities for property acquisition and repurposing may arise.
https://twitter.com/GameofTrades_/status/1658834773412913156
2️⃣ Inflation on the right track🟢
Inflation decelerates but remains persistent. Shelter and services are still contributing to inflation.
Post-pandemic effects had a role to play as consumers demand shifts away from goods towards services.
Inflation could continue its downward trajectory with a weakened economy.
Historically, commodities have been a good leading indicator by a few months to foretell inflation trends. https://twitter.com/Mayhem4Markets/status/1659388441967116289
The Fed is likely to keep interest rates steady so they may not need to raise interest rates as aggressively as they had previously thought.
Expectations of steady rates are priced into equity prices now.
All things looking bright?
https://twitter.com/POTUS/status/1658911515045502985
But @gameoftrades_ cautioned a situation of a sticky inflation where ISM prices are increasing.
https://twitter.com/GameofTrades_/status/1659212259871313929
3️⃣ China slowing but strength is present
🔴Relations with China
The relationship between China and the European Union (EU) is becoming more strained.
The EU is proposing sanctions on specific Chinese companies that are said to support Russia’s war effort.
This would be the first such measure by the EU to sanction China. In response, China is threatening to retaliate.
The sanctions are a sign that the EU is concerned about China's growing economic and military power, and its willingness to support Russia's war effort.
The sanctions could also have a negative impact on the EU economy. China is a major trading partner of the EU, and the sanctions could lead to higher prices for goods and services.
The decline in Chinese investment in Europe is another sign of the strain in the relationship between the two sides.
https://twitter.com/onlydjole/status/1655993595306835995
🟢 Export
China's economic recovery is weaker than expected. Evident from China's biggest trade showing weak global demand for Chinese products.
At the same time China's weakness is important to the global economy.
A weaker Chinese economy has negative implications for export growth for other major economies.
It likely implies somewhat slower global economic growth this year than previously anticipated.
There is one potential silver lining to China's economic weakness.
Weaker growth in China could help to suppress energy prices, thereby further enabling inflation in the West to decelerate.
🔴 Import
A slowdown in Chinese demand could lead to job losses for these importing countries and decline in global trade.
China is a major consumer of commodities, and a demand slowdown could lead to lower demand for commodities and downward pressure on prices.
- ToE's Weekly Highlights #24
🔹Macro: Debt ceiling as the make or break
🔹Trends: Gaming, LSD, Chinese coins, OP bedrock
🔹 Defi: Sei Network the attention. > 30 projects mentioned (DM me for @Equilibriafi WL if keen).
🔹 Spicy Drama: Ledger fud
📩📭 (link in bio)
https://twitter.com/arndxt_xo/status/1660201570817150977
If you have not read the previous week’s highlight here it is:
https://twitter.com/arndxt_xo/status/1657717442586746882
1️⃣ Macro
@nickgerli1 on Bank Credit Crunch.
@CryptoAlphooor on US debt ceiling; correct and print.
@Rewkang on New crypto regime in HK starts June 1.
@stackhodler on currency devaluation.
@Liscivia_ on liquidity drying, debt ceiling coming.
2️⃣ Narratives
@crypto_linn shares watchlist.
@ChrisRomanoC on RLB and gambling narrative.
@abdullahbumar on Superchain thesis.
@definapkin on VCs trend spotting.
@QuantMeta on 4 narratives.
@0xTindorr finds projects w/o tokens.
@nay_gmy on crypto sectors.
@Moomsxxx on whale holdings.
3️⃣ Defi
@rektdiomedes May update.
@the_smart_ape on Sei Network.
@Flowslikeosmo watching 6 projects.
@AlphaOmelette on Led Money.
@crypto_condom on Railgun.
@CryptoNikyous 10 undervalued LSDfi.
@SmallCapScience on Chronos and Thena.
@matrixthesun TVL to fundamentals.
4️⃣ Resources and Tools
@thalamu_ free indicator.
@francescoweb3 on BTC onchain analytics.
@vinvin_100 on OG whale wallets.
@0x_Neural on Arca profits.
@stacy_muur track wallets.
@Louround_ on must follow accounts.
@DegenSpartan staking tools.
@0xFinish on 10 free on-chain tools.
5️⃣ Spicy Crypto Drama.
@k06a on Ledger FUD.
@0xCygaar on PSYOP token
- The Fed's mandate is clear: prioritize fighting inflation over financial stability. But what happens when these goals clash?
A closer look at the delicate balance of the Fed's quest.
https://twitter.com/arndxt_xo/status/1656622694912360449
Let's go with another series of Macro Pulses Update 11 May 2023. What would you make out of this
Looks pretty neutral to me this time.
1️⃣Fed in Tight Spot
2️⃣US Outlook
3️⃣China Economic Upswing
4️⃣Fed Hikes Again
5️⃣Countdown to Debt Ceiling
1️⃣Fed in Tight Spot
🟢 Job market
Despite the job market's current resiliency, there are indications that it may begin to falter in the coming months.
https://twitter.com/KobeissiLetter/status/1654463697375444994
However these job gains raises questions as @the_advisor.lens https://twitter.com/zerohedge/status/1654520697706692608
Although there are still plenty of unfilled positions, fewer people are applying for them, and the number of unemployment claims is rising.
Fed aim to strike a balance between controlling inflation and guaranteeing employment creation. This itself is a substantially tough.
Although inflation has reduced, it is still over the Fed's 2% objective, causing the transition to 2% inflation a slow one.
https://twitter.com/GameofTrades_/status/1656309365811576833
🟡Service Sector
The high demand for services is contributing to the apparent price gap between goods and services.
This is one of the reasons why the service industry is not experiencing the same inflationary pressures as the goods sector.
🟢 Structural Shifts
These structural shifts i.e. increase in construction spending and strong manufacturing projects are expected to sustain economic activity.
Even in the face of macro uncertainty and tighter lending standards could weigh on these fundamental structures.
2️⃣US Outlook
🔴Business sentiments
Economic outlook for small companies looks bad. Might signal a looming recession
Only 2% of businesses thought it was a good time to expand despite lower pricing pressure.
Its lowest since the Great Recession.
Pretty worrying sentiments, so gotta watch lending standards.
🟢 CPI
CPI levels improved.
Though as the economic activity slows, I think we can expect to be back onto a long ride to 2% inflation levels.
3️⃣China Economic Upswing 🟡
Chinese economy continued to grow in April, albeit unevenly and with slightly less vigor.
Despite a minor slowdown in momentum, China's economy is still strong, and the 5.2% GDP growth prediction for 2023 stands.
https://twitter.com/ShangguanJiewen/status/1653544408829263872
4️⃣Fed Hikes Again 🟡
The FOMC raise rates by 25 basis points to 5.00%-5.25%.
Seems like this could be the final rate increase. The next FOMC is in June. If its a hike or not will depend on how economy performs.
I am leaning towards a 🟢 for June
https://twitter.com/zerohedge/status/1653548948257112070
Also, the fact that the FOMC did not commit in advance to another raise shows that they are closely observing the situation and prepared to to take action if necessary.
5️⃣Countdown to Debt Ceiling 🟡
Due to the debt ceiling restriction, the US Treasury may not have enough money to cover all of its commitments as early as June.
https://twitter.com/amuse/status/1656056444175761410
Three options are possible:
▫ Reaching an agreement to raise or suspend the debt ceiling
▫ Deciding on a temporary rise in the debt ceiling to buy more time for talks
▫ Maintaining the political impasse and entering the early June without a solution
- ChatGPT valuation of 29B is now in question by its competitor, Bard.
Bard can do everything ChatGPT can do, but better.
Here are 7 mind boggling things that Bard could do for free 🧵
Bard is powered by Google's LaMDA language model, which is one of the most advanced large language models in the world. It outperforms in many aspects.
With its strength being able to generate different creative text formats, translation to English, Japanese, and Korean
Bard poses a threat to ChatGPT's existence with much more features
→ Entirely free to use
→ Provides real time information from the internet
→ Accessible in 180 countries
Let's dive in to what Bard could do for you👇
💎 Data availability
It bothers me how ChatGPT is always telling me that its last available data is in 2021 and isn't very helpful.
2 years of data gap means a lots for time sensitive information and code related work. Coding work could get irrelevant.
Bard wins this hands down.
It could tell me about about the gains of the top 5 coins in the past week and saved me the effort of going into @CoinMarketCap to search for the weekly gainers.
💎 User oriented
ChatGPT provides only one reply. I always love alternatives and a varied response.
You don't want to feel like you are talking to a robot right, though you essnetially are.
Bard provides several drafted responses and you can even refresh it.
💎 Ecosystem of interoperability
Bard is well integrated with the suite of Google products, currently with Docs, Gmail and Google search.
I wouldn't be surprised that it will be integrated with Collab notebook, Sheets in the future.
💎 Concise Summaries
ChatGPT could give summaries but its output is isn't correct. It might have referred to an old project I suppose.
Bard did better here.
Slightly more accurate than ChatGPT but with some slight mismatch vs what @parallaxfin has in their docs.
But overall its more accurately described than ChatGPT's output.
💎 Real-Time Chart Analysis
Let's look at an example from a chart extraction from TradingView for BTC that is trading on Binance.
Results were mind-blowing from what Bard told me.
Chat GPT gave me a boring response.
Clearly it isn't an unknown asset. It lacked the ability to read my intentions.
It could have at least made some smart guesses.
Bard analysed the chart, paired it with possible macro events and even had knowledge around TA stuff.
Imagine Tradingview or Dexscreener integrating this with their charts. Bard might just be the best indicator ever.
💎Coding for you
ChatGPT did well with explaining the logic of how I can with this code. But I am a code base illiterate.
It would take me a while to pick up the knowledge required enough to be able to code it on my own.
Bard did all those for me.
Bard written a twitter scrapper that helped me to find quality alpha. It even explained to me what the code could do its search criteria.
I don't agree with some of it so I can easily tweak that.
Seriously impressed.
💎Ligher LaMDA
ChatGPT and LaMDA are more expensive to operate than typical software.
While Bard uses a "lighter weight" version of LaMDA,iit is less expensive to operate than other chatbots. It requires less powerful hardware and less data to train.
Concluding all the feature differences between Bard and ChatGPT.
- ToE's Weekly Highlights #23
🔹Macro: Possible pause or cut interest rates
🔹Narratives: Elon on Miladys $LADYS BRC 20 stuff, AI and gaming.
🔹Defi: LOTUS, FOUR, STAMPS. crvUSD launched.
🔹Tools: DAO matrix, Play new token
🔹Spicy drama: Justin into meme
📩📭 (link in bio🙂
https://twitter.com/arndxt_xo/status/1657717442586746882
If you have not read the previous week’s highlight here it is:
https://twitter.com/arndxt_xo/status/1654856404744941570
1️⃣ Macro
@KobeissiLetter shares the key events.
@jonwu_ on FRC collapse
@tedtalksmacro on more disappointing data out of China.
@BobEUnlimited on debt ceiling.
@i_am_jackis on bottom is over, going to stagflation era.
@HiddenValueGems looks for cheap businesses to buy.
2️⃣ Narratives
@Flip_Research review state of crypto.
@0xKepler shares best gaming insights.
@0xMughal shares his monthly farms.
@chilla_ct on Stablecoin flow.
@0xYugiAI into AI.
@DefiIgnas on BRC20.
@insomniac_ac cross chain updates.
@apes_prologue @dennis_qian @AlphaCircle_ weeklies
3️⃣ Defi
@CryptoGirlNova on wallet with perfect track record
@shaundadevens advice is to follow the incentives.
@the_smart_ape about STAMPS on BRC20.
@0xShinChannn on time bandit attacks.
@chef_mochi on CAKE being oversold.
@Govanisher on @LybraFlnanceLSD finance.
@cryptofishx on LOTUS.
4️⃣ Resources and Tools.
@CryptoNikyous on how you can play new token launch.
@cyrilXBT on chatGPT use case for threadoors.
@smoldapp for the builders, a registry of apps.
@phtevenstrong on delta neutral strategies.
DAO matrix tooling, Pulse links
5️⃣ Spicy Crypto Drama.
@ManaMoonNFT @multivitamln and on LOTUS dev rugged/drama.
@AragonProject heated discussion.
@justinsuntron publicly announcing that he will be trading memecoin
- The Fed's mandate is clear: prioritize fighting inflation over financial stability. But what happens when these goals clash?
A closer look at the delicate balance of the Fed's quest.🧵
https://twitter.com/arndxt_xo/status/1656622694912360449
Let's go with another series of Macro Pulse Update 11.05.2023. What would you make out of this? Looks pretty neutral to me this time.
1️⃣Fed in Tight Spot
2️⃣US Outlook
3️⃣China Economic Upswing
4️⃣Fed Hikes Again
5️⃣Countdown to Debt Ceiling
1️⃣Fed in Tight Spot
🟢 Job market
Despite the job market's current resiliency, there are indications that it may begin to falter in the coming months.
However these job gains raises questions as @zerohedge reveals the mystery.
Although there are still plenty of unfilled positions, fewer people are applying for them, and the number of unemployment claims is rising.
Fed aim to strike a balance between controlling inflation and guaranteeing employment creation. This itself is a substantially tough.
Although inflation has reduced, it is still over the Fed's 2% objective, causing the transition to 2% inflation a slow one.
🟡Service Sector
The high demand for services is contributing to the apparent price gap between goods and services.
This is one of the reasons why the service industry is not experiencing the same inflationary pressures as the goods sector.
🟢 Structural Shifts
These structural shifts i.e. increase in construction spending and strong manufacturing projects are expected to sustain economic activity.
Even in the face of macro uncertainty and tighter lending standards could weigh on these fundamental structures.
2️⃣US Outlook
🔴Business sentiments
Economic outlook for small companies looks bad. Might signal a looming recession
Only 2% of businesses thought it was a good time to expand despite lower pricing pressure.
It's the lowest since the Great Recession.
Pretty worrying sentiments, so gotta watch lending standards.
🟢 CPI
CPI levels improved.
Though as the economic activity slows, I think we can expect to be back on a long ride to 2% inflation levels.
3️⃣China Economic Upswing 🟡
Chinese economy continued to grow in April, albeit unevenly and with slightly less vigor.
Despite a minor slowdown in momentum, China's economy is still strong, and the 5.2% GDP growth prediction for 2023 stands.
4️⃣Fed Hikes Again 🟡
The FOMC raise rates by 25 basis points to 5.00%-5.25%.
Seems like this could be the final rate increase. The next FOMC is in June. If its a hike or not will depend on how economy performs.
I am leaning towards a 🟢 for June
Also, the fact that the FOMC did not commit in advance to another raise shows that they are closely observing the situation and prepared to to take action if necessary
5️⃣Countdown to Debt Ceiling 🟡
Due to the debt ceiling restriction, the US Treasury may not have enough money to cover all of its commitments as early as June.
Three options are possible:
Reaching an agreement to raise or suspend the debt ceiling
Deciding on a temporary rise in the debt ceiling to buy more time for talks
Maintaining the political impasse and entering the early June without a solution
- A directed acyclic graph (DAG) is a type of data structure that can be used as a substitute for or complement to blockchains.
Here’s what it means:
• Directed: Each connection has a defined direction, so there’s a single directional flow from one node to another.
• Acyclic: Vertices never loop back on themselves, meaning transactions are immutable.
• Graph: A data structure composed of nodes and the connections between them (which can represent transactions/token movements).
So how are DAGs different from blockchains?
While blockchains are also directed and acyclic, they are made up of blocks of grouped transactions connected in a chain and authenticated by miners/validators. In contrast, DAGs are an expanding graph of individual transactions where new transactions validate previous transactions.
Pros vs. cons:
DAGs are highly efficient and viable infrastructure for micropayments. However, because DAGs are secured by network traffic, low transaction volume can leave them vulnerable to attack.
Are DAGs used in crypto?
Absolutely. Both the Avalanche and Fantom networks combine DAG and blockchain structures in their consensus protocols. For example, the Fantom network uses its DAG 2.0 model to stack transactions and approve them simultaneously before incorporating them into a blockchain for greater security. Other protocols, such as IOTA and Hedera, use DAG-based systems without blockchains.
What’s next for DAGs?
The Chainlink Labs Research Team has published an array of cutting-edge research around DAGs that could potentially lead to the next scalability breakthrough for Web3. Highlights include:
• BFT on a DAG: https://blog.chain.link/bft-on-a-dag/
• Execution and Parallelism: https://blog.chain.link/execution-and-parallelism-for-dag-based-bft-consensus/
• MEV Resistance on a DAG: https://blog.chain.link/mev-resistance-on-a-dag/
Excited about the future of Web3 and keen to connect with the best in the industry?
Get your ticket to SmartCon 2023 before Early Bird tickets run out: https://chn.lk/3zbOEAc
- The financial system is clearly under stress but experts deny.
Turmoil ensued when $FRC shares fell by more than 75%. Some might say buy the dip but I would caution here.
Here's what you need to know to prepare for the incoming unrest 🧵
https://twitter.com/arndxt_xo/status/1654085975344287744
FRC is likely to land itself into the same state as its fellow "friends". You will need to know these:
1️⃣What will this mean for FRC?
2️⃣Ongoing turbulence in the banking system
3️⃣Brink of another financial crisis
1️⃣What will this mean for FRC?
Concerns have been raised regarding the viability of the banking sector.
Is it built on a stable foundation or is it at risk of failing more broadly as a result of the ongoing problems at First Republic?
The present bank discontent is unlikely to constitute a systemic danger despite continuous financial system stress.
Experts cautioned that risks are only limited to a few institutions that are susceptible to high interest rates and depositor's fear.
I feel skeptical here.
SVB and Credit Suisse fell from the heavens and their stock price is now akin to that of a stable coin.
SVB hovering around 0.5 to 0.6
CS hovering around 0.7 to 0.8
FRC might just land itself into a similar state
2️⃣Ongoing turbulence in the banking system
"The bigger they are, the harder they fall."
The fall of SVB is a reminder that even seemingly stable systems are susceptible to external pressure such as high interest rates, uninsured depositors, and FUD escalating into panic.
Fed intervenes with interest rate hikes. SVB bond value drops drastically. The banking system was affected.
SVB's failure is a reminder of how interwoven our financial system is.
https://twitter.com/arndxt_xo/status/1634414263434637312
Because SVB catered to tech startups and venture firms, many of whom held uninsured deposit.
When a disclosure regarding SVB's financial losses was made, it sparked a bank run.
The story is not anywhere different for the case of FRC.
As First Republic struggles financially, it repeats the tired narrative of high interest rates and apprehension among uninsured depositors.
However, there's a shift of deposits out of small banks and into large ones.
Small banks lost $108 billion in deposits as a result of SVB, while the top 25 banks received $120 billion.
This calls into doubt the authority of large financial institutions and public confidence in them.
3️⃣Brink of another financial crisis
Are we on another brink of collapse?
Current banking upheaval won't represent a systemic risk since only a small number of institutions that failed to protect their balance sheets are at risk of collapsing.
But experts deny a banking collapse.
The potential failure of weak banks could set off a panic with unpredicted results. But it is not a banking crisis; rather, it is a crisis stemming from a few banks.
First Republic doesn't seem to pose a systemic risk by itself.
Unrealized losses for U.S. banks were at $620 billion last year.
We can only take adopt a wait and see approach.
- ToE's Weekly Highlights #22
🔹BANK ruptcy...nationalization of US banking system
🔹Memecoins pumped, Desci, RWA as subtle narratives
🔹List of all SUI projects, Tricrypto update
🔹50k made from OTC
🔹 On-chain sleuths threathened, CZ warns Justin
📩📭 (link in bio)
If you have not read the previous week’s highlight here it is:
https://twitter.com/arndxt_xo/status/1652288076033720320
1️⃣ Macro
@gurgavin shares daily bank updates in gdrive.
@IamZeroIka shares TA.
@CryptoHayes on US banking system being nationalized.
@Croesus_BTC shares United States' fiscal position with 7 charts.
@fejau_inc bearish with debt ceiling.
@My_SexyLife on BRICS vs USD.
2️⃣ Narratives
@rektdiomedes monthly portfolio update.
@Rancune_eth outlook.
@FungiAlpha shares 20 early stage projects.
@0xBispo looking at Desci projects.
@ViktorDefi shares 7 crypto reports.
@Crypt0_Andrew shares his thoughts around all of the sectors in Defi
3️⃣ Defi
A valuable list of SUI projects.
@Web3_buidl on Eigenlayer for LSD narrative.
@CryptoGideon_ bullish on perps.
@BoringSleuth shares the dark side of crypto.
@StableScarab on FXS buy opp.
@c_storry play for LayerZero.
@jake_pahor bullishness on Thena.
@twindoges on BRC 20 airdrop.
4️⃣ Resources and Tools.
@Nicknick2109 shares list of chads.
@corleonescrypto tools for finding Alpha.
@stacy_muur Tokenomics 101.
@definapkin on wallet alternatives.
@hotnewcrypto on top 10 projects that raised.
@paulcryptoadv made 50k on OTC.
@Louround_ list of L2 solutions
5️⃣ Spicy Crypto Drama
@HashBastardsNFT shares that on chain sleuths gets threatened.
@cz_binance warns Justin on Sui token.
@ArkhamIntel The US Government currently custodies over $6B in BTC on-chain.
@insomniac_ac on Binance under investigation.
@gurgavin on “BANK”RUPTCY BINGO
- The world is in a flux.
China makes strides towards recovery, and the US grapples with mixed economic news.
Will the future belong to a new economic superpower? 🧵
https://twitter.com/arndxt_xo/status/1653357430586351616
Another series of Marco Pulse 02.05.2023
This thread will cover these 3 areas:
1️⃣ Mixed Signals: The State of the US Economy
2️⃣ China's Economic Resurgence
3️⃣ Shifting trade patterns and the impact on economic stability
1️⃣ Mixed Signals: The State of the US Economy
**🟢 Labor Market**
US labor market is doing pretty well:
▫Record low unemployment rate
▫Modest employment growth in March
▫Higher labor force participation among workers of prime age
▫Manufacturing employment fell
The labor force has grown in size and inflationary pressures have decreased as a result of a dramatic resurgence in immigration.
**🟢Inflation**
Inflation is tricky to tame, but it seems like the US is making some headway.
Inflation has decreased to its lowest level since May 2021, which is unquestionably fantastic news.
When we take the volatile energy and food costs out of the equation, core inflation still stands at 5.6% from a year ago. This is partially explained by how rising property prices are maintaining core inflation.
It's a bit of a two-edged sword because, while the decrease in home prices later this year will contribute to reducing core inflation, it might also have a negative effect on the housing market.
There is a heated argument concerning the persistence of inflation and whether the Federal Reserve should keep a tight monetary policy. We'll have to wait and see how this all plays out.
**🟢Financial market**
The financial markets appear to be in reasonable form, despite a challenging year of monetary policy by the FED to fight inflation,
Risk spreads spiked in response to the financial crisis brought on by SVB's bankruptcy. Stablized by the swift FED actions.
Risk spreads back to pre-crisis levels. A situation similar to that of Lehman Brothers was thereby prevented.
Given the perceived danger of financial harm, the FED could end monetary tightening sooner than originally predicted.
**🟡Manufacturing investment**
The amount of intended investment was increased by US manufacturers, particularly in semiconductors and clean energy technology.
It's not apparent if investments supported by government subsidies have as favorable an impact on productivity as other forms of investment.
However this might increase employment and economic growth.
**2️⃣ China's Economic Resurgence**
**🟢Fiscal Policy**
Retail sales, exports, and infrastructure investment were the strongest sectors, which reflected the government's attempts to promote growth through fiscal policy.
Private sector investment, on the other hand, grew slowly in Q1, rising just 0.6%.
**🔴Export**
Due to the deterioration of the global economy and the possibility of recession in important markets, China's once strong export growth may be slowing.
March showed improvements in the retail sector, but the sluggish housing market could impact negatively.
**🟢Industrial Production**
China's industrial production grew modestly, with automotive sector being the only bright spot.
**🟢Fixed asset investment**
Grew in the manufacturing sector, but fell in the property sector. Home sales were down, but home prices have started to recover.
While China's economic growth is rebounding, there are still challenges ahead. It remains to be seen whether the government's efforts to boost growth through fiscal policy will be successful in the long term, especially in the face of a weakening global economy.
**3️⃣ Shifting trade patterns and the impact on economic stability**
**🔴Fragmentation**
Rising fragmentation of the global economy is alarming.
Dominating actions by powerful nations such as protectionist measures, industrial strategies to support domestic manufacturing, and limitations on technology exports to China are to blame for this.
This fragmentation poses the danger of reducing trade and investment, creating inefficient supply chains, reducing innovation, and increasing productivity.
We don't want to see a situation of armed confrontation.
- Everyone is so focused on LSDfi and they are missing out on what else the big boys are looking at.
@cz_binance and @GoldmanSachs are betting on RWA narrative before anyone else. Follow smart investments to front run whales.
A growth engine powering the next 100x in Defi🧵
https://twitter.com/arndxt_xo/status/1652998815732076545
Lets get up to speed on this topic. Real world asset in short is RWA.
Some stuff that you would want to know:
1️⃣About RWA
2️⃣How RWA impacts Defi
3️⃣Potential of RWA
4️⃣Mass adoption
5️⃣Projects in the RWA space
**1️⃣About RWA**
Real World Assets are tokenized, mapped to the blockchain, and traded through the RWA process.
Both actual and intangible assets, such as real estate, financial products, currencies, commodities can be tokenized.
One that I just realized too. Stablecoins are as a result of a successful use case for RWA implementation.
USDT and USDC are pegged to and represents the US dollar on the blockchain.
**2️⃣How RWA impacts Defi**
I see the potential in RWA revolutionizing DeFi by bridging conventional finance and DeFi
The present state of Defi is akin to a closed financial system. Its revenue is derived from endogenous sources i.e. swap fees, borrowing fees.
This has to change
RWA bring a slew of benefits to Defi, such as:
🔹Borderless possibility
Real-world assets (RWA) may be tokenized and added to the chain, allowing for cross-border asset exchange and eliminating geographical restrictions.
Anyone can invest in real estate for a fraction.
🔹Diverse income
Additionally, RWA broadens the source of DeFi income, giving if a continuous fee boosts.
MakerDAO has confirmed RWA's capacity to ingest real-world revenue, which is essential for the DeFi protocol to be competitive.
https://twitter.com/Delphi_Digital/status/1636110018117505024
🔹Deepen liquidity
It might be the next big thing for DeFi, offering limitless liquidity and creating new avenues for the development of the capital markets.
On-chain, there are a lot of treasury bonds and real estates, giving DeFi a real return in the real world.
**3️⃣Potential of RWA**
RWA is not a new concept. In fact, it is already existing for the longest time, with USDC and USDT being the US dollar representation on-chain.
More popular RWA includes assets like equities, carbon credits, real estate, and US Treasury bonds.
🔹MakerDAO
It holds US Treasury bonds accounting for $500 million of the RWA collateral. These are AAA bonds.
🔹RealT
(powered by @AaveAave) Tokenizes real estate assets to address their liquidity and transaction cost issues.
Investors can invest in a faction of the asset vs traditional investment of buying the whole house.
https://twitter.com/RealTPlatform/status/1651662759942037514
RWA is still being used, although its scope is modest when compared to the DeFi as a whole.
More of its use cases are waiting to be uncovered.
**4️⃣Mass adoption**
It's always a hurdle for crypto concepts to attain mass adoption because it will usually be challenged with regulation and transparency concerns.
If we think about the stablecoin depeg saga, many times, the uncertainty develop fear in people and they these stablecoins often questioned.
What is backing it, do they have the balance to prove, is it truly decentralized?
These are tough questions to provide answers for.
With other RWA being brought on-chain, matters complicate. Issues such as value of assets, asset ownership, legal protection of property rights arise.
And to achieve larger scale adoption, compliance have to be introduced.
We also have to be cautious of regulatory bodies challenging RWA. It's a fine balance to juggle decentralisation and centralisation well.
Central bodies could interfere with the Defi and may hinder or push forth the RWA towards maturity, which we are still pretty far from.
**5️⃣Projects in the RWA space**
Credit: @MakerDAO, @maplefinance, @centrifuge, @Credix_finance, @TrueFiDAO, @ClearpoolFin,
@Polytrade_fin, @credefi_finance
Carbon credits: @ToucanProtocol, @weareflowcarbon, @regen_network
Finance: @ELYSIA_HQ, @realio_network, @Axis_Defi
Luxury: @galileoprotocol
Real estate: @TheopetraLabs, @SwarmMarkets, @RealTPlatform,
@labsgroupio, @Oceanpoint_BST, @LiquidProp_xyz, @codedestate
- If you like these artworks,please🔻
1️⃣ Mirror
2️⃣ Like
3️⃣ Collect
#nftart #orrvan2 #lenster #lensview
- Understanding macro trends is key to staying ahead of the curve
But this information here cannot be accessed by the masses
Spilling undisclosed macro insights known only to top 1%🧵
MUFG shares its Macro Supercycle insights for Apr 2023 only for the C-suites. Here are the topics covered, shared to you now:
1️⃣Financial system intolerant of higher rates
2️⃣Financial stability concerns
3️⃣Sticky and non-linear progression
4️⃣Long and variable lags
5️⃣The ambiguity of sufficiently restrictive
6️⃣Recession may have already began
7️⃣Banks and market now doing the tightening
8️⃣From inflation and duration to recession and credit risk
9️⃣Sustainable recovery more likely in 2024
1️⃣0️⃣ The Great Moderation is over
1️⃣Financial system intolerant of higher rates
We saw a decade of easy money with the big 4 central banks 5x their balance sheets.
Fiscal stimulus were huge during the COVID era and that excess liquidity build-up contributed to today's inflation and financial instability.
Today, US economy is hyper-financialised with much of its growth built over periods of low GDP growth, inflation and rates.
With tightening, financial system shows weakness; intolerant to higher interest rates.
2️⃣Financial stability concerns
To the experts, its not surprising as the tightening cycles always lead to some casualties.
Financial assets surged beyond GDP growth for over a decade. Bank securities ballooned.
Credit spread widens and interest rate rise put banks at risk with 620b of unrealised losses between bond book values and market values.
This is not the same as the crisis in 2008 as banks today are well capitalised holding quality assets.
3️⃣Sticky and non-linear progression
Core goods inflation declined in Feb. Core service inflation rose. Supecore(ex-shelter) remained stick and still remains high.
Supply chain improved as China's re-opened, fewer shipping congestion, parts shortages and weaker dd for goods.
4️⃣Long and variable lags
Fed tighening at the fastest rate (hike) reducing its balance sheet by $100B per month.
Historically, the effects of the tightened monetary policy comes in 12 to 18months later. Ripple effects to real economy would take longer.
5️⃣The ambiguity of sufficiently restrictive
Fed's data dependent policy approach is challenged with fluctuation data.
As a result, Fed has been behind the curve on inflation. The benchmark policy rate is below the rate of inflation.
6️⃣Recession may have already began
Every time the headline US inflation has risen above 5% a tightening and recession usually follow.
If we look back at the 12 Fed tightening cycles, recessions then to to have a higher risk of hard landing.
It might be likely be so now.
7️⃣Banks and market now doing the tightening
Financial conditions have tightened. IG (investment grade issue) is at all time low in March.
Estimating and IG issuance to remain the same.
Small regional banks are critical sources of credit.
8️⃣From inflation and duration to recession and credit risk
Credit spreads always spread wider 5 to 7 months after start of recession. We'll likely see it increasing in 2H of 2023.
Equities tend to hit new lows ~6months after recession.
Low in corporate earnings coming in 6 12months later
9️⃣Sustainable recovery more likely in 2024
Global slowdown is forecasted for all countries in 2023.
And some recovery predicted to happen in 203.
1️⃣0️⃣ The Great Moderation is over
Business cycles are likely to be shorter and more vulnerable. Due to effective inflation policy and better supply chain management.
40 year bull market for bonds and zero interest rate policy has ended.
Though commodity boom are rare events, we might be in the stages of one.
A supply constrained commodities super cycle that is likely to last a decade.
The commodity super cycle could be fuelled by de-globalisation, energy transition, regulatory dynamics, labour shortages, investor demands and years of structural under investment.
- ToE's Weekly Highlights #21
🔹ETH resists 2k, Banking fears subsided
🔹Account abstraction, Lybra, HK coins
🔹 Good entry, Really good vaults, MVX on zkSync
🔹 SQL resources, Trend tracker
🔹 Powell pranked, Hayes bullish on crypto if another bank collapses
https://twitter.com/arndxt_xo/status/1652288076033720320
📩📭 (link in bio)
If you have not read the previous week’s highlight here it is:
https://twitter.com/arndxt_xo/status/1651641254323838977
Overarching sections:
1️⃣ Macro
2️⃣ Narratives
3️⃣ Defi
4️⃣ Resources and Tools
5️⃣ Spicy Crypto Drama
1️⃣ Macro
@ogdave621 feeling ETH topish
@_FabianHD take on macro setup for the month
@WolfOfPoloniex shares trading targets.
@jameslavish on BRICS.
@0xjaypeg on debt ceiling and why does it matter.
@sonalibasak concerns over FRC.
@Mayhem4Markets on insufficient hedge on interest risk
2️⃣ Narratives
@2lambro 30 projects on Sui.
@AmirOrmu on smart money flows.
@FungiAlpha 20 alpha proj.
@bull_bnb on HK coins.
@DegenSpartan trading plan.
@matrixthesun 1shot1kill portfolio update.
3️⃣ Defi
@abdullahbumar on @UMichBlockchain
@zkSync_Labs on Metavault going to zkSync.
@0xShinChannn on frxETH strategy.
@0xsurferboy on Binance hybrid dex.
@Flowslikeosmo on 5 undervalue Arb projects.
@defi_candle on Gamefi projects with airdrops.
@WinterSoldierxz take on CCTP.
4️⃣ Resources and Tools
@ColeGarnerXBT captial flow and trend tracker
@GoneMultichain on LSD mega thread
@Delphi_Digital macro indicator dashboard
@leshka_eth Dune analytics on chain monitoring
@AdarshChetan on SQL resources
@Dynamo_Patrick weekly on chain fundamentals
5️⃣ Spicy Crypto Drama
@CryptoHayes bank collapse good for crpyto
@WatcherGuru on Jerome Powell held a call with Russian pranksters posing as Ukrainian President Zelenskyy.
@Arthur_0x on Terra classic is not a security
FBI raids home of former FTX exec
- ToE's Weekly Highlights #20
🔹BTC/ETH retraced, weaker economic growth
🔹AI+crypto, Concentrated Liquidity
🔹20 zkSync projects, AGI fishy contract
🔹VC investments, podcast alpha, airdrop/tokenomics analysis
🔹Vitalik broke up causing ETH price to fall
https://twitter.com/arndxt_xo/status/1651641254323838977
📩📭 (link in bio)
If you have not read the previous week’s highlight here it is:
https://twitter.com/arndxt_xo/status/1647993013300498432
1️⃣ Macro
@AlphaCircle_ Macro events for the week
@ogdave621 on crypto market TA
@Mayhem4Markets on lower office space utilisation and possible weaker economic growth.
@Mayhem4Markets on The Great Rotation: into bonds and out of stocks
2️⃣ Narratives
@yashcrypto21 on Arb taking #1 DEX volume spot from Eth.
@lookonchain on chain analysis of ETH withdrawals.
@Old_Samster on AI + crypto.
@casperdefi shares his team alpha.
@0xYugiAI on Crypto Index futures.
@2lambro on 8 narratives both dead and new
3️⃣ Defi
@AdetolaOG on Concentrated liquidity
@Defi_Maestro 100 challenge Day 72
@0xhotl bullish on Gamma
@Flowslikeosmo finds ARB undervalued
@Slappjakke on ARB DAO airdrop
@orderflowOG on Cashmere Labs
@2lambro on 20 more zkSync projects
@matrixthesun shares trading experience
4️⃣ Resources and Tools
@ViktorDefi shares podcasts with alpha
@defi_gaz shares airdrop analysis
@2lambro shares tokenomics analysis
@kindahangry secret list of upcoming projects
5️⃣ Spicy Crypto Drama
@NFTethics shows that there are deep connections between NFTs/crypto
@jerallaire on US Digital Dollar/Payment Stablecoin Bill
@warroomEth on Hundred finance attack
@zachxbt out to kill Mochi
@justinsuntron on ETH price related to Vitalik breaking up with gf
- Top 20 crypto Hub cities
Comment the name of your city under this post.
- EOS EVM Chain Launch: A New Hope for EOS? 5 things to know.
1️⃣ EOS recently launched the EOS EVM chain, which combines the performance of EOS with the resources of the Ethereum community. EOS EVM boasts fast speed, claiming to be 25x faster than AVAX and 3x faster than Solana or Polygon.
2️⃣ A quick flashback: EOS raised a record-breaking $4.2 billion USD in its ICO, aiming to build a more scalable and efficient blockchain than Ethereum. However, it fell short in comparison to Ethereum, with a total value locked (TVL) of just $124 million USD.
3️⃣ With EOS EVM, the EOS Network Foundation hopes to regain ground by offering the most performant and compatible EVM on the market. Key features include 1-second block intervals, low gas fees ($0.01 USD), and support for 800+ swaps per second.
4️⃣ EOS EVM allows Solidity developers to easily port dApps to EOS, as the native EOS is written in C++. Users can add EOS EVM RPC to Metamask and use it like any other EVM network. Additionally, an EOS native <> EOS EVM bridge has been established.
5️⃣ The big question: Will developers choose EOS EVM over numerous Layer 2 solutions that inherit security from Ethereum? The EOS Network Foundation is offering over $35 million in incentives for projects, but will it be enough to attract the community?
Stay tuned to see how this new development unfolds! #EOS #EVM #blockchain #crypto
- The merger of crypto and AI is not a passing fad, but rather a major paradigm change. Crypto is actively solving the issues and constraints that have long plagued the AI sector.
It functions as a:
● hardware coordination layer
● managing computing resources effectively
● coordinating the intricate interactions of AI algorithms.
This symbiotic link between cryptocurrency and artificial intelligence is altering the technological landscape and ushering in a new era of innovation and opportunity.
- This post uses the MultirecipientFeeCollectModule.
Thanks to @donosonaumczuk for helping me to implement this module in @wav3s.
As a thank you, all the earnings from COLLECT this post will be received by @donosonaumczuk.
- Testing @wav3s 🥳😙
✅ Follow me on Lens
✅ Like this post
✅ Mirror this post
✅ Get 0.15 WMATIC
- As the veil of ignorance was lifted from my eyes, I came to discover a microcap project supported by illustrious figures such as @CoinSwitch and @PolygonVentures.
One in existence for over 2 years. It'll generate more than $200m of liquidity and trading volume of nullb. 🧵
The unraveling of this thread is a journey worth taking.
Already having more than 10M in TVL, @Polytrade_fin generates safer and predictable APYs.
1️⃣ Polytrade's Core Concept
2️⃣ How it works
3️⃣ RWAs
4️⃣ Roadmap plans
5️⃣ $TRADE charts
A pretty creepy finding before I begin this thread.
Polytrade leaves its footprints around really well even in my cupboards.
Not only did I find Polytrade's branded bottle, at the same time, I just so happen to discover it in web3 and decided to thread on it.
Here goes👇
1️⃣ Polytrade's Core Concept
Polytrade is an on-chain trade financier.
They provide advance funding to suppliers while receiving the payment from payer at a later date.
Invoice receivable are being tokenised in this case.
https://twitter.com/arndxt_xo/status/1642844433816354827
So, as a lender you would be pretty eager to know where your yields come from.
And, investors like @CoinSwitch @PolygonVentures, they would want to know how Polytrade generates revenue.
So how real are these yields?
2️⃣ How it works
First let's start by understanding, what are invoice receivables. They are a promise that you will receive payment at a later date.
Invoice receivables on Polytrade are tokenised as NFTs along with the details of that invoice.
It starts when John sells a good. He issues an invoice to Ikea specifying credit terms.
Ikea owes John $100, which is the outstanding invoice.
Johns records $100 as invoice receivable on his balance sheet.
But why would John need Polytrade to finance this trade?
Because the credit terms (i.e. 3 months due) delayed Ikea's payment to John. It means that John would receive $100, 3 months later.
If John needs the cashflow earlier, he would need a financier like Polytrade who will buy this invoice from Ikea and then finance John first.
In return, for the advance funding, John receives only 95% of the invoice receivables from Polytrade, who will then collect the proceeds from Ikea later.
Polytrade earns this 5% premium and shares that with its lenders.
Would trade financing continue to shine?
3️⃣ RWAs
As covered in my previous thread, RWAs are heating up. With a gigantic market size and tender macro situation that would put out many companies and turning them to on-chain credit solutions.
https://twitter.com/arndxt_xo/status/1642844436458799104
Its a competitive space with many other credit protocols.
So how Polytrade differs is where they improve on competitors' features with something of their own along with strong partnerships line-up.
https://twitter.com/arndxt_xo/status/1642844463692382213
4️⃣ Roadmap plans
Roadmap is well lined up so lets dive in to what has Polytrade planned and its partnerships line-up.
https://twitter.com/sandeepnailwal/status/1641448149175894023
🔹Security and transparency
Unlike any other protocol Polytrade transparently map each asset to a pool via NFTs and they are the only protocol in DeFi offering credit-insured RWAs from @AIGinsurance, @coface, Mercury.
🔹Lender v3
Will incorporate new features that benefit the lenders:
- Multiple pools with different rates, tenures
- Multiple currency support
- Dedicated partnership and exclusive boosted pools
- Clear revenues
- $TRADE utility
https://twitter.com/SoodGen/status/1642835710343364608
🔹RWA marketplace
Users can now list, buy, sell, fractionalize, and bundle RWA NFTs like never before!
This means one can now build a portfolio of portions of a 5 to 6 six figure Zara, Mango, Urban Outfitter invoices to generate yields!
🔹Beta Governance Staking (staking program).
The staking pools of 2M + 0.5M $TRADE (11% of circulating supply were locked for 3-6 months and revenue share (50% to $trade holders).
https://twitter.com/SoodGen/status/1641375469529444353
🔹ZK-ID
Polytrade plans to use a Polytrade ZK-ID, basically tokenising KYC while protecting privacy.
This will ease the transition of different trade participants on-chain, creating that connection to the global financial ecosystem.
https://twitter.com/Polytrade_fin/status/1642918196947877888
🔹NFTs
More recently they have entered the NFT space, using NFT as yield boosters.
And they are partnering with blue chip NFTs like @y00tsNFT. Never have I seen such a partnership, so I am keen to find out how it'll work.
🔹Partnerships with other projects
1. Already live with @useteller
2. Pool announced with @ClearpoolFin
3. In talks with @Stablzone @0vixProtocol @AtlendisLabs @defactor_ @CredoraPlatform and major market leader @goldfinch_fi to do a pool soon!
https://twitter.com/DeFi_Made_Here/status/1641795321930940416
Lastly, @Polytrade_fin is leading the RWA narrative on Polygon and held a seminar with thought leaders in Dubai.
https://twitter.com/Polytrade_fin/status/1635322877175267328?s=20
5️⃣ $TRADE charts
Chart is at nearly an ATL and good to pick some. Though prices has moved up last week due to the recent capital raise news.
I would see this as a longer term play
MC of 6mil, TVL of 11mil (TVL continues to pick up)
- Testing @wav3s 🥳😙
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- Looking for great DeFi newsletters?
Don't agree with the ranking (I should be first), but these are must follow!
- Moments of labour markets weakness are showing symptoms of stress.
Unemployment 🆙
Jobs added 🦥
Job postings🔬
Is the Fed's tightening cycle about to come to a stop, or is this just a small blip in the big picture?
🧵
https://twitter.com/arndxt_xo/status/1645796365677789193
Bumpy ride ahead in the labor market.
Hiring slows vs 2020 while initial jobless claims are increasing. Possible this could lead to the end of the Fed's tightening cycle.
Marco Pulse 11.04.2023
1️⃣ Labour Conditions
2️⃣ Economic Figures
3️⃣ Credit Market Outlook
4️⃣ OPEC cuts
It might be a little negative this time round so please bear with me as we go through the economic figures.
While, events in the week you might want to keep an eye for:
▫CPI (12 Apr)
▫Retail Sales (14 Apr)
▫Industrial Production (14 Apr)
1️⃣ Labour Conditions 🔴
Tightening grip of the labor market loosens as employers added new jobs in March but at a slower pace than the past three months.
Improved labour supply has helped soften the trend in earnings growth.
We also saw a decline in job growth and a softening in hiring
Layoffs in manufacturing and a slower pace of hiring in services. Job openings falling to a 15-month low, and a clear uptrend in initial jobless claims revisions, all pointing towards a weakening labor market
2️⃣ Economic Figures
🔴 CPI
🟡 Retail sales
🔴 Manufacturing output
🔴 CPI
Feb's CPI revealed some encouraging signs, such as a little uptick in grocery store costs and a drop in used vehicle prices.
Nonetheless, core CPI inflation remains strong, with annual rates of > 5% across the board.
March CPI is likely to drop, but core CPI readings show that recent inflation patterns have not improved.
Core inflation may drop later in the year, but it is unlikely to be reflected in the forthcoming CPI announcement.
🟡 Retail sales
Likely to decline in March and from Feb could normalise the spike from Jan and decline in Feb.
Despite strong growth in Q1, outlook for consumer spending is uncertain due to factors such as credit tightening, rate rises, and a deteriorating labor market.
A deeper U.S. recession is projected to push spending growth into next year.
🔴 Manufacturing output
Despite a 0.1% increase in industrial production in February, manufacturing output fell 1% YoY.
Future industrial production growth could remain poor, with output expected to fall further into contraction.
3️⃣ Credit Market Outlook🔴
There's a pullback in home price growth expectations, while households expect financing costs to trend higher despite lower mortgage rates.
However, a majority of households still believe investing in a home is worthwhile.
4️⃣ OPEC cuts🔴
OPEC stunned the markets this week by lowering production to increase oil prices. This resulted in an 8% increase in Brent crude and WTI prices, erasing year-to-date losses.
Yet, variables like (...)
(...) supply and demand, global economic worries, and low production levels may restrict the cartel's capacity to further reduce output.
OPEC+ output curbs may reignite inflationary pressures in the United States and others.
@fabiand.lens @stani.lens @trashbin.lens @0xnavigator.lens @ustas.lens @fraxcesco.lens @curvecap.lens @wagmi.lens @lensprotocol @ignas.lens
- **The data-driven economy | Why data is the new oil?**
https://mirror.xyz/0xdeidara.eth/2W16sVoboNfpZU4EG5B7BU_CT0k_0erfzcW_2vyFHMw
The information provided in the article:
- Explain the role of data
- Understand AI/Machine Learning, Big Data, Deep Learning, Cloud Computing terminologies in the simplest way
- The position of blockchain in the data-driven economy
- How to not be left behind in the new era?"
- There's a new game-changing protocol with flywheel mechanisms that have already achieved amazing results:
🛠️ Fully minted out under 12 hours
🪂 Promised airdrops and fees
💎 Bluechip partnerships
It uses a 2 prong approach (NFTs, Tokens) to maintain this flywheel 🧵
https://twitter.com/arndxt_xo/status/1643206813016551425
Amalgamating the best features from its predecessors, a top-class ve(3,3) DEX @ChronosFi_ is born on @arbitrum
1️⃣ Overview of Chronos
2️⃣ Innovative Features
3️⃣ Tokenomics
4️⃣ Catalysts
1️⃣ Overview of Chronos
Let's understand what's a ve(3,3) DEX.
It's difficult to incentivise liquidity and accrue revenue for DEX token holders.
So a ve(3,3) aspect to it was introduced by @AndreCronjeTech's and Chronos aligns this across various market participants.
• LP providers; incentivized with the highest $CHR emission
• veCHR voters; incentivized to vote to direct incentives to high-volume/fee pools
• Traders; enjoy low slippage and rates
• Protocols; bribe voters to attract more incentives/liquidity
2️⃣ Innovative Features
Chronos combined the best features from other ve(3,3) DEXes,
@ThenaFi_ on BSC
@Equalizer0x on Fantom
@VelodromeFi on Optimism.
So what are those features being combined and what innovative ones were added?
🔹chrNFT
Inspired by @thenafi_'s 3000 founders.
Chronos' limited 5555 NFT collection is fully minted
• Private sale price: 0.30e
• WL mint price: 0.325e
• Public mint price: 0.35e
The Lost Keys of Chronos (chrNFT), offers holders access to real-yield revenue and more!
Pretty genius ideas here.
So to reduce selling pressure, Chronos gives original-minter-only benefits. And increase desire for chrNFT with fees distributed and promised airdrops!
Holders of chrNFT enjoy:
• Staked NFTs earns up to 20% of all swap fees on Chronos
• Original minter earns 2% in royalties from secondary sales forever
• 1% of all secondary sales goes to the chrNFT staking pool
• Guaranteed $CHR airdrop
• Exclusive benefits in Discord
🔹Maturity-Adjusted LPs (maNFTs)
Chronos integrated with a new feature here called the Reliquary, in collaboration with @ByteMasons
It's through the use of maNFT that rewards liquidity providers who hold their tokens for longer periods of time.
As users stake their LP tokens, they receive maNFT that keeps track of:
• the tokens you've provided
• how long you've been staked
• earns you boosted emissions for up to 6 epochs
Unlike veNFT, maNFT can be unstaked any time but you'll lose any boost earnings was accumulated.
And it can be traded on marketplaces like @opensea.
You can think of this like “liquidity bonds” that carry underlying yield and also appreciate over time.(time is money)
🔹Chronos Flywheel
For other DEXes, in times of market volatility → DEX token price falls → APR falls → liquidity withdrawn
So with the above features Chronos creates a flywheel ecosystem and is self sustaining to addresses issues faced by current DEXes
This flywheel drives the platform’s growth and enhances its liquidity. And in this case we see a positve feedback loop accusing value into $CHR.
How about the case where $CHR faces weak demand?
The counter-cyclical effect would support this flywheel positively as well.
→$CHR weak demand
→$CHR price decrease
→veCHR APR increase (through maNFT)
→but maintains revenue (more attractive P/E ratio)
→$CHR becomes an attractive investment
→$CHR price increase
This counter-cyclical effect is made possible through maNFTs.
It ensures that liquidity remains on the platform, allowing for the counter-cyclical effect (price down=APR up) and stabilize the $CHR price.
$CHR becomes price-resilient and LP farming is sustainable.
3️⃣ Tokenomics
$CHR are incentives for LP providers and stake LP tokens on the platform.
$veCHR allows for gauge voting, governance, earn swap fees, bribe revenue.
Pretty genius way to raise money with NFTs and while keeping the tokenomics clean by being a community funded project.
What's interesting here is the 28% airdrop (strategically aligned) to users who have supported the project.
4️⃣ Catalysts
✅ It has one of the best DEX interface on @arbitrum feature their dark mode
✅ Novel mechanism with Reliquary, going to be interesting how it plays out.
✅ Long list of blue chip partnerships that adds credibility to it
Looking at how @ThenaFi_ played out, I am pretty bullish that @ChronosFi_ could play out right.
Just with the partnerships, they are definitely going in the right direction.
Tech wise, though we have not seen a model with Reliquary yet, this can be game changing.
- Any thoughts around Stargate’s most recent proposal?
- gm folks! I've built something today ⚒️ 🌿
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- Current state of banking affairs fuels the widespread fear for providing and obtaining credit. It's also revving up Defi.
Tokenization of a real world asset (RWA) eases this fear.
One that is hardly ever talked about in Defi is NOT a land, commodity nor an art ⁉️🧵
https://twitter.com/arndxt_xo/status/1642844427894018050
I thought I'd share with you this upcoming protocol called @Polytrade_fin.
But before the deep dive (pt 2), I would do a market research for its core concept.
1️⃣ What Polytrade does
2️⃣ Preclude to RWA
3️⃣ What are RWAs
4️⃣ RWA credit protocols
5️⃣ Alignment of macro dynamics
1️⃣ What Polytrade does
Polytrade tokenises credit (aka invoicing receivables) into a safe asset class while earning yields for its liquidity providers.
This credit tokenisation can help SMEs raise liquidity, which is crucial to keep business operations going.
Market potential here is massive as it's building in a 5T trade finance market.
Market gap exist in terms of funding, where it still lacks 1.5T.
@fitforcrypto_ shares similar sentiment that the RWA scene is just heating up
https://twitter.com/fitforcrypto_/status/1636727752744206338
Lets look at how RWA in trade finance transforms not only in Defi but in web2 as well!
I think that the RWA is poised to take down some of that 16 trillion market share.
https://twitter.com/thedefiedge/status/1641440379760443393?t=etJhc_yeyXPfK3FwY3qy2Q&s=19
2️⃣ Preclude to RWA
With the collapse of LUNA, we have seen DeFi yield taking a nose dive. The promised highlands are not longer safe.
And even the gold standards of crypto such as FTX fell prey to greed and mismagagement. Regulations were merely a facade.
So where can we look for high yields?
We now turn to new trends with the "fi"s
i.e. Gamblefi, NFTfi, LSDfi. You dont feel too SAFU isn't it?
RWA offers that assurance and yet a way to earn higher REAL yields
3️⃣ What are RWAs
These are assets that exist in the physical world, with a real impact to businesses.
RWAs have a financial value attached to them, be it a market price like a property or commodity, or a perceived value like an art.
Clearly an untapped market potential.
Giants in the web2 space are taking taking advantage of this narrative:
▫PE firm @hamilton_lane, manages $824B of assets, would tokenize a portion of its equity fund.
Whats more astounding is that governments are accepting DeFi!
▫@MAS_sg announced Project Guardian, a pilot program to tokenize bonds and deposits that can be used in various DeFi strategies.
it uses Defi protocols like @AaveAave and @compoundfinance to earn interest, or take loans. Big banks are part of this pilot too!
User benefits as traditional assets are being brought on-chain:
▫Fractional ownership; lower min investment
▫Increase asset's liquidity
▫Enhanced transparency and security
▫Better security through blockchain tech
▫Better compliance
▫Automated ownership management
4️⃣ RWA credit protocols
RWA narrative is led by web2 companies. But how about crypto native protocols?
One upcoming is @Polytrade_fin. I have seen its roadmap and can only assure you that it has solid partnerships lined up and a bullish roadmap ahead. (in the next thread)
Polytrade plans to incorporate a suite of features, which I already seen its successes with the current RWA credit protocols.
You can take a guess on the sort of features it will have.
Here's a quick competitive research of some relevant protocols that's already out there:
🔹@maplefinance credit marketplace plans expand to receivables financing up to $100M in size, as well as support US treasuries and insurance refinancing.
🔹@goldfinch_fi allows for the creation of junior and senior tranches for assets.
🔹@OndoFinance recently tokenized US treasuries, investment grade bonds, and high-yield corporate bonds.
🔹@FluxDeFi (built by Ondo) allows borrowing of stablecoins against the tokenized US treasuries.
🔹@centrifuge deals with structured credit—is focused on securitizing and tokenizing previously illiquid debt, with $298M in total assets already financed.
🔹@BackedFi a Swiss-based startup that launched its first product, bCSPX representing tokenized S&P 500 ETF shares.
Probably this is something that could interesting and also I would exercise some caution given the recent bank sentiments from the Swiss largest national bank
Generally, these protocols work largely around 2 main users: Lender and Borrowers.
Lenders provide capital to borrowers, who seek some financing.
RWA then comes in with innovation on how this can be financed through the play of various assets.
Advantages of RWA credit protocols
▫Lenders earn higher APY than most promised Defi yields
▫Presents a new source of loans, and increases capital efficiency
▫Businesses are building their on-chain credit profile
Disadvantages of RWA credit protocols:
▫Default risk posed by the borrowers
▫Defi's distaste for KYC
▫Biasness in KYC and AML process as its a human-driven process
5️⃣ Alignment of macro dynamics
I thought it was timely to bring this topic of RWA for credit as we have seen the ugly tradfi macro out there.
One of America's great bank collapsed.
Switzerland's stronghold bank Credit Suisse fell overnight and it was saved for a cheap $3B.
This sort of macro dynamics put a lot of financial strain on SMEs. They will often require more cashflow while banks become stringent in giving away credit facilities.
So where could these SMEs turn to? Either they fall or get more cashflow elsewhere.
They can turn to Defi!
For investors, RWA is now at an ATL and could be an opportunity to look at some of them. (NFA)
@Polytrade_fin have also just announced a raise of $3.8M from big names like Matrix Partners, Polygon Ventures, Alpha Wave and Coinswitch Ventures.
https://twitter.com/Polytrade_fin/status/1641414192724086786?s=20
@Polytrade_fin has planned some interesting features in their new roadmap and I will dive deeper into the protocol and its mechanics in the next thread.
It's also creepy that I found something from Polytrade hidden in the depths of my cupboards!
- ToE's Weekly Highlights #17
🔹Macro seems uncertain. Economic data doesn't look good.
🔹Index narrative has gotten some traction
🔹A ton of projects pre-launched, some with interesting launch mechanisms
🔹NFT analysis framework, web3 jobs
🔹Metamask snapshot rumour
📩📭
https://twitter.com/arndxt_xo/status/1642206285289631745
-
If you have not read the previous week’s highlight here it is:
https://twitter.com/arndxt_xo/status/1639661245338112000
-
Overarching sections:
1️⃣ Macro
2️⃣ Narratives
3️⃣ Defi
4️⃣ Resources and Tools
5️⃣ Spicy Crypto Drama
-
1️⃣ Macro
@_FabianHD bull and bear cases
@biancoresearch shares market thinks banking crisis is now over
@Moomsxxx macro possible outcomes
@Schuldensuehner on MOVE indicator relaxation means market is easing.
-
2️⃣ Narratives
@thedefiedge, @0xYugiAI believes index as catalyst for mainstream crypto adoption
@AstrologyCrypto Pre-Launch Gems List
@CryptoMaestro new edition of NFTFiWeekly
@Dynamo_Patrick 11 best projects
@smoovie420 on all your counter trade signals.
-
3️⃣ Defi
@0xkhan_ shares DEXes on Polygon
@InternDAO research on @UniDexFinance
@corleonescrypto list of high-quality low caps
@AaveAave is coming to @MetisDAO
@blocmatesdotcom guide on @ipor_io
@Slappjakke on @sector_fi
-
4️⃣ Resources and Tools
@n4motto shows you how to survive on crypto
@Deebs_DeFi on whale wallet
@Flowslikeosmo on Token Terminal
@paulcryptoadv NFT analysis
@toffee248 on alpha share
@CryptoDinduz on web3 jobs
@alphascan_xyz alpha hunting tool
-
5️⃣ Spicy Crypto Drama
@paulcryptoadv on Metamask's rumored snapshot
@justinsuntron propose to buy 41,500 BTC
- 📚 **Fun fact about posts on #Lens!**
They can be hosted on either centralized or decentralized resources.
Decentralized ones cannot be deleted. A better name for the "Delete" button (@lenster.lens) in this case would be "Hide" because, technically, it is more accurate. Such a post can still be viewed even after deletion.
On the other side, centralized ones can be deleted if you or anyone else can access the centralized host. Or better, if a post owner can delete it, he can also change the content. So, when you see a post, you can only be sure that the content will stay the same once you know whether it is centralized or not (better not to believe in bet predictions on Lens, right?).
And since comments are technically still posts (but with a reference), we can edit them as well and make some dirty game. In general, there will be no edit tracks unless the comment's content has been uploaded to some sort of archive.
That was my first thought, but then I dug a little deeper. The trick won't work with the default Lens indexer that everyone uses nowadays because it indexes posts only once after transaction confirmation on #Polygon. So, basically, it copies your post to the indexer's DB, and later, when you use Lenster or some other client, you don't get the data from the actual post's content URL but from this DB.
I wondered why it works like that because this means the indexer's DB won't represent the actual state of the blockchain in some cases. I've written in the Lens Discord, and the answers were as follows:
https://discord.com/channels/918178320682733648/1080136391989669989/1080230235854864446
@cesare.lens: "To be clear the blockchain data is not changed, on-chain each post|comment has a content URI that cannot be changed. The contentURI has to point to a public location. From an immutability perspective a "purist" would argue to use an immutable data storage (e.g. IPFS) still the Lens Protocol does not stop you to use a URL you control. The indexer is driven primarily by on-chain events to determine what and when to fetch contentURI. Updating the file won't cause a chain event so simply updating the file won't work."
@wagmi.lens: "We will add a refresh endpoint soon it's on the radar"
Previous posts:
1. Beginning - https://lenster.xyz/posts/0x8218-0x6c
2. Lens on the zkEVM testnet - https://lenster.xyz/posts/0x8218-0x96
#learning #notes #dev
💰 **Mirror, like, and follow** to get **0.123 WMATIC**; limited to the first 100 users.
Thanks to @wav3s.lens
- Creating a thread inside @lenster.lens
- Inevitable that DEXes compete on @arbitrum for their $ARB allocation. I always look elsewhere...
Unnoticed is a stable swap AMM that is not content to merely follow the pack.
Instead, it breaks free from the constraints with its groundbreaking math and smart contracts.🧵
https://twitter.com/arndxt_xo/status/1641398623056584710
Just beta launched on 20 Mar, @MantisSwap is building a next gen DEX on @0xPolygonLabs
1️⃣ Overview of Mantis Swap
2️⃣ Mantis vs competitors
3️⃣ Mantis' Core design
4️⃣ $MNT tokenomics
5️⃣ Bullish Plans
**1️⃣ Overview of Mantis Swap**
MantisSwap is a single-sided AMM that aims to be the liquidity hub for pegged assets on Polygon.
Why pegged assets? Because this reduces the impermanent loss faced by LP providers plus a protection mechanism in place (will go into it later)
I like Mantis because it builds its own smart contracts and you can see it through its nerdy math in the docs.
It sets to achieve:
▫Greater capital efficiency
▫Lower trading fees and slippage
▫Capital protection for LP providers
The dApp UI is also a pleasure to interact. Simple and clean. Though still bare, just note that its in beta testing and I expect it to be beefed up once live.
Mantis boasts that its better than competitors. Its UI is pretty neat but how true are its other features?
**2️⃣ Mantis vs competitors**
Mantis developed their trading simulator to compare how they would fare as compared to their competitors.
It's a testament of what they said they could achieve. And these backtests are a thorough one.
They have simulated @MantisSwap against @Uniswap and @CurveFinance for 2 scenarios:
▫Stablecoins staying true to peg
▫Stablecoins deviating from peg
across 2 metrics:
▫Slippage
▫Volume
From the vigorous simulation, here are some 🔑 takeaways:
▫Lower slippage than Uniswap and Curve
▫High slippage for large swap sizes (prevent pools from being drained)
▫Circuit breaker mechanism protects LP provider
▫If swap is unfavourable on one side, the other side will be favourable
These findings shape Mantis' core design
**3️⃣ Mantis' Core design**
Looking beyond the results from technical simulation, Mantis also found shortcomings with the AMM design of its counterparts.
Thus, giving brith to its commitment to redesign its stable swap AMM design
**🔷 Shortcomings with current AMM design**
**▫Impermanent Loss**
The general assumption is that stablecoins maintain a 1:1 peg and LPs are not protected in the case of depegging. (that's why we have @y2kfinance).
So a depeg would leave LPs with the devalued asset like $UST.
This design flaw also applies to LSDs as they also maintain a 1:1 peg to its staked tokens. i.e. stETH:ETH. With no such mechanism in place, a "bank run" could be catastrophic for any kind of pegged assets.
**▫Capital Inefficiency due to Liquidity Fragmentation**
Base assets are often stablecoins, and many are often duplicated across various paired-LPs. If there are 400 pools, it means the DEX needs 400x of these stablecoins to be deployed into 400 pairs.
Then, liquidity becomes fragmented amongst different pools. You can imagine that it is not capital efficient with alot of the TVL required.
This gets even more inefficient when only the top few pools are deep enough to not suffer significant price impact or slippage.
**consolidates**
Mantis plans to move the DEX tech one step forward with:
▫Omnipool Architecture
▫Account Model
▫Slippage Curve
▫Autonomous Loss Protection
▫Omnipool Architecture
It consolidates**Omni pool** tokens of the same kind in a single trading pool so any trade will draw liquidity from this omnipool resulting in:
• Deeper liquidity, capital efficient
• Lower slippage, transaction cost
• No indirect routing between pools
**▫Account Model**
Every account now acts as an LP; consisting of its own assets and liabilities.
“Asset” is the amount of tokens that remain in the pool available to be exchanged.
“Liability” is the total amount of token deposited over time as liquidity in the pool.
**▫Slippage Curve**
Mantis' slippage curve is a key differentiator from existing AMMs.
The steep convexity at tail ends means that if there is an imbalance in the pool, and someone tries to make a trade that would worsen the imbalance, they would have to pay a higher fee.
The Omnipool also has a high liquidity ratio, which means that it has a large amount of assets in the pool relative to the amount of trading activity.
This helps to ensure that the pool remains healthy and stable, even during periods of high volatility or low liquidity.
**▫Autonomous Loss Protection**
Mantis built in a mechanism guarding users against depeg events. When a token depegs beyond a threshold, a circuit breaker is triggered and the token cannot be swapped.
So if depegging continues, users' losses are capped.
**4️⃣ $MNT tokenomics**
Distribution is rather fair. However, I would prefer a
▫Longer vesting for team vs investors
▫Smaller investor allocation or at best do without investors
$MNT is NOT live yet and will have use cases like governance voting, the reward for LPs and boosts.
$MNT can be earned by through the liquidity mining rewards, which can be boosted by veMNT.
**5️⃣ Bullish Plans**
Security audits completed with @peckshield
the
Mantis is also aims to be a powerhouse DEX.
They are looking to build a perpetuals on top of their stableswap AMM.
I feel rather confident that Mantis can have stronger partnerships with these already secured:
Stables - @QiDaoProtocol $MAI
Vault providers - @beefyfinance, @tetu_io
LSD - @LidoFinance
As you know, security and project quality is what these blue chip protocols look at.
Lastly, for the juiciest post. Mantis swap is up for Beta testing and @0xPolygonLabs posted that.
With the airdrop meta that is going around, maybe maybe?
- Inevitable that DEXes compete on @arbitrum for their $ARB allocation. I always look elsewhere...
Unnoticed is a stable swap AMM that is not content to merely follow the pack.
Instead, it breaks free from the constraints with its groundbreaking math and smart contracts.🧵
https://twitter.com/arndxt_xo/status/1641398623056584710
Just beta launched on 20 Mar, @MantisSwap is building a next gen DEX on @0xPolygonLabs
1️⃣ Overview of Mantis Swap
2️⃣ Mantis vs competitors
3️⃣ Mantis' Core design
4️⃣ $MNT tokenomics
5️⃣ Bullish Plans
**1️⃣ Overview of Mantis Swap**
MantisSwap is a single-sided AMM that aims to be the liquidity hub for pegged assets on Polygon.
Why pegged assets? Because this reduces the impermanent loss faced by LP providers plus a protection mechanism in place (will go into it later)
I like Mantis because it builds its own smart contracts and you can see it through its nerdy math in the docs.
It sets to achieve:
▫Greater capital efficiency
▫Lower trading fees and slippage
▫Capital protection for LP providers
The dApp UI is also a pleasure to interact. Simple and clean. Though still bare, just note that its in beta testing and I expect it to be beefed up once live.
Mantis boasts that its better than competitors. Its UI is pretty neat but how true are its other features?
**2️⃣ Mantis vs competitors**
Mantis developed their trading simulator to compare how they would fare as compared to their competitors.
It's a testament of what they said they could achieve. And these backtests are a thorough one.
They have simulated @MantisSwap against @Uniswap and @CurveFinance for 2 scenarios:
▫Stablecoins staying true to peg
▫Stablecoins deviating from peg
across 2 metrics:
▫Slippage
▫Volume
From the vigorous simulation, here are some 🔑 takeaways:
▫Lower slippage than Uniswap and Curve
▫High slippage for large swap sizes (prevent pools from being drained)
▫Circuit breaker mechanism protects LP provider
▫If swap is unfavourable on one side, the other side will be favourable
These findings shape Mantis' core design
**3️⃣ Mantis' Core design**
Looking beyond the results from technical simulation, Mantis also found shortcomings with the AMM design of its counterparts.
Thus, giving brith to its commitment to redesign its stable swap AMM design
**🔷 Shortcomings with current AMM design**
**▫Impermanent Loss**
The general assumption is that stablecoins maintain a 1:1 peg and LPs are not protected in the case of depegging. (that's why we have @y2kfinance).
So a depeg would leave LPs with the devalued asset like $UST.
This design flaw also applies to LSDs as they also maintain a 1:1 peg to its staked tokens. i.e. stETH:ETH. With no such mechanism in place, a "bank run" could be catastrophic for any kind of pegged assets.
**▫Capital Inefficiency due to Liquidity Fragmentation**
Base assets are often stablecoins, and many are often duplicated across various paired-LPs. If there are 400 pools, it means the DEX needs 400x of these stablecoins to be deployed into 400 pairs.
Then, liquidity becomes fragmented amongst different pools. You can imagine that it is not capital efficient with alot of the TVL required.
This gets even more inefficient when only the top few pools are deep enough to not suffer significant price impact or slippage.
**consolidates**
Mantis plans to move the DEX tech one step forward with:
▫Omnipool Architecture
▫Account Model
▫Slippage Curve
▫Autonomous Loss Protection
▫Omnipool Architecture
It consolidates**Omni pool** tokens of the same kind in a single trading pool so any trade will draw liquidity from this omnipool resulting in:
• Deeper liquidity, capital efficient
• Lower slippage, transaction cost
• No indirect routing between pools
**▫Account Model**
Every account now acts as an LP; consisting of its own assets and liabilities.
“Asset” is the amount of tokens that remain in the pool available to be exchanged.
“Liability” is the total amount of token deposited over time as liquidity in the pool.
**▫Slippage Curve**
Mantis' slippage curve is a key differentiator from existing AMMs.
The steep convexity at tail ends means that if there is an imbalance in the pool, and someone tries to make a trade that would worsen the imbalance, they would have to pay a higher fee.
The Omnipool also has a high liquidity ratio, which means that it has a large amount of assets in the pool relative to the amount of trading activity.
This helps to ensure that the pool remains healthy and stable, even during periods of high volatility or low liquidity.
**▫Autonomous Loss Protection**
Mantis built in a mechanism guarding users against depeg events. When a token depegs beyond a threshold, a circuit breaker is triggered and the token cannot be swapped.
So if depegging continues, users' losses are capped.
**4️⃣ $MNT tokenomics**
Distribution is rather fair. However, I would prefer a
▫Longer vesting for team vs investors
▫Smaller investor allocation or at best do without investors
$MNT is NOT live yet and will have use cases like governance voting, the reward for LPs and boosts.
$MNT can be earned by through the liquidity mining rewards, which can be boosted by veMNT.
**5️⃣ Bullish Plans**
Security audits completed with @peckshield
the
Mantis is also aims to be a powerhouse DEX.
They are looking to build a perpetuals on top of their stableswap AMM.
I feel rather confident that Mantis can have stronger partnerships with these already secured:
Stables - @QiDaoProtocol $MAI
Vault providers - @beefyfinance, @tetu_io
LSD - @LidoFinance
As you know, security and project quality is what these blue chip protocols look at.
Lastly, for the juiciest post. Mantis swap is up for Beta testing and @0xPolygonLabs posted that.
With the airdrop meta that is going around, maybe maybe?
- Brace yourselves, folks!
The all anticipated fed funds rate got hiked by 25 bps in March. But the future remains uncertain amidst the recent turmoil in the financial/banking system. 🧵
Here's a sharing of some economic data predictions throughout 2023 and also interesting charts for your visuals.
**🔴Consumer confidence to decrease**
The recent banking troubles might affect confidence as retail consumers do not have much exposure to financial markets.
CCI is more closely related to business conditions and employment situations.
**🟡Q4 GDP (estimate)**
Not expecting much revisions. Q4 profits likely showed a decline in growth due to soft consumer and business demand. Input costs remain high, particularly for labor, which likely decreased profit margins.
Difficult for firms to make new investments.
**🟢Consumer spending**
Consumer spending started strong but seasonal distortions could be affecting recent figures. Income growth is a key driver of spending.
Sturdy jobs market and high levels of excess saving helps sustain spending even with recent banking sector issues
**🟡Interest Rates**
Fed may raise interest rates by 25bp in May due to persistent inflation concerns. However, rates could be held steady in June as the effects of previous tightening are still being felt.
2H2023 could see a slowdown and rate cuts expected in Q4 2023
**🔴Credit conditions**
Consumers seek less credit as interest rates rise. Credit card limit increase applications increased, while auto loan application rates declined and highest rejection rates since Feb 2017.
Tighter and more expensive credit could slow the pace of spending.
**🔴Banking Sector**
Bank failures have led to concerns about their stability and impact on the economy. Tighter lending standards would shrink the amount that smaller banks can get loan for.
It's not impossible that we could see a higher probability of recession in 2H2023.
- Re-branding to:
Finest 🐙 analysts re-engineering the meta of the crypto 📰 entirely
🐙 for the 🐙
@curvecap.lens
https://twitter.com/arndxt_xo/status/1640371421154275329
- It's been a wild week for the economy, but all eyes were on the banking sector as financial system instability took center stage.
A major global bank's share prices took a serious dive, reigniting concerns about the spread of economic stress.
Want more inside scoop?
1/ Past data has shown quite positive figures. But that is not all there is to it. We will have to sit tight and watch how the bank saga unfolds or "folds"
**A ToE Macro Pulse series.**
2/ 🟢 Consumer Price Index
CPI has been showing some signs of cooling off lately, but February's print didn't exactly follow suit.
The headline CPI rose 0.4%, just a hair slower than the previous month.
3/ But, the core index, which excludes food and energy prices, was a bit hotter than expected with a 0.5% increase.
And get this, the core CPI is now running at a 5.2% three-month annualized rate, way above the Fed's 2% inflation target.
4/ 🟢 Producer prices
Fell unexpectedly in February, with the PPI declining 0.1%.
Its suggesting underlying inflation pressures are not intensifying, although the stickiness in consumer price inflation indicates a long path back to the Fed's target.
5/ 🟢 Retail sales
Rose 0.5% in Feb. An important input for personal consumption expenditures and a big part of GDP.
Even better, past months sales # were revised upward, painting a positive picture for real GDP growth in Q1 2023.
The economy is on a positive trajectory.
6/ 🟢 Manufacturing front
Factory output is still growing, albeit at a slower pace.
While rising interest rates and slowing demand may pose a challenge, the fact that manufacturing production is still expanding is an encouraging sign for the economy.
7/ 🟢 Housing market
Surge in multifamily construction was the main driver, single-family starts also saw a slight increase. And for the first time in 12 months, single-family permits rose, showing that builders are becoming more optimistic.
8/ Incentive programs have helped, but even more encouraging is the return of sidelined buyers.
Mortgage applications for purchase have risen for two consecutive weeks, putting an end to the declines seen in February.
/ All of this points to a stabilizing residential market as buyers adapt to a higher rate environment.
10/ 🔴 Leading Economic Index (LEI)
Took another hit in February, falling 0.3% for the 11th month in a row. That's not a good sign, folks.
One reason for the decline is consumers' expectations, which seem to be dwindling.
11/ Sentiment about current and future conditions has dropped, even though inflation expectations have eased.
With the current banking crisis, credit conditions could get even tighter, leading to a recession in the latter half of 2023.
Let's hope things turn around soon!
12/ 🟡 State of banking sector
Some U.S. banks have been struggling to meet their obligations to depositors due to losses on securities holdings.
The KBW Bank Index, which measures the performance of 24 major banks, has taken a hit of almost 25% since March 8th.
13/ The U.S. government has stepped in to prevent a global financial crisis. The Treasury Department, Federal Reserve, and FDIC have taken action to reassure depositors that their money is safe.
14/ All depositors of Silicon Valley Bank and Signature Bank will be made whole, even for uninsured deposits above the $250,000 threshold.
$25B lending program called the Bank Term Funding Program (BTFP) will provide loans of up to one year to eligible depository institutions.
15/ So, what does this mean for the banking industry as a whole?
While there are concerns about systemic issues, the banking system is relatively liquid and well-capitalized.
16/ The Tier 1 Risk-Based Capital Ratio of the system is almost 14% at present, which is higher than it was on the eve of the global financial crisis.
The commercial banking system is also quite liquid, with cash predominantly in the form of deposits at the Federal Reserve.
17/ In conclusion, there are reasons to be optimistic that the banking crisis will not lead to a wider financial meltdown.
However, shareholders and some unsecured debtholders may not be protected.
18/ Despite efforts to prevent another global financial crisis, the consequences of recent events will likely have a lasting impact on the economy.
This means tighter financial conditions and increased uncertainty, leading to slower credit growth and a decline in GDP.
19/ The FED will likely pause or at least keep to its work in its tightening cycle at its March 22 meeting due to recent market volatility.
I would expect more rate hikes later on before easing monetary policy in Q4 as the recession deepens and inflation comes down.