As mentioned in our recent NFT Memo and Alpha Feed post on DeGods, Frank has been trying to incorporate memecoin culture into the NFT collection after they migrated back to Solana. Their first step was to create a token-gated group chat exclusively for memecoin trading called de/cap. Then, they migrated their HQ from Discord to Telegram s... Read more

Openeden is a protocol that offers tokenized T-Bills and overnight reverse repurchase agreements. The benefits of tokenized TBILLS are numerous, including: 24/7 instant settlement, self-custodial, transferability, and composability. The protocol is the first to be awarded an A-bf bond fund rating by Moodys. Yesterday, Binance Labs inve... Read more

By Luke Saunders (@lukedelphi) and Jose Macedo (@ZeMariaMacedo) AI represents arguably the biggest technological revolution in history, and has kickstarted a technological arms race the likes of which the world has never seen before. Current AI models are already scoring in the top decile on most standardized college tests and outperfo... Read more

Coinbase announced the launch of cbBTC today. In light of the recent controversy surrounding wBTC and Justin Sun, Coinbase took an opportunity to take market-share from Bitgo which has remained the steadfast leader in the onchain Bitcoin space for many years. cbBTC is live on Base & Ethereum: (0xcbb7c0000ab88b473b1f5afd9ef808440eed33... Read more

A new paper titled ‘Who Wins Ethereum Block Building Auctions and Why?’ was published last month, showing insightful data on the collaboration between searchers and builders, order flow dynamics, and the growing of private order flow. Below, I’ve summarized some key takeaways from the paper. Full paper available here The paper analyzed da... Read more

Predict is the newest prediction market to launch with a special twist – it’s built on Blast meaning all positions generate native yield. Native Yield Outside of the incentive structure, Predict is a typical prediction market that operates on a CLOB. However, the incentive structures make Predict a far more attractive prediction ma... Read more

One of the big wins of DeFi in 2024 has been the tokenization of the widespread “Cash and Carry” trade as the synthetic dollar USDe by Ethena Labs. USDe supply has ballooned to $2.7B within 10 months, and the protocol has crossed $100M in fees collected. A huge opportunity exists to bring such essential but proven trading strategies fr... Read more

Last year in our Infrastructure Year Ahead report (linked below) I had a section called “The L2 Wars” where I laid out what I was seeing in the rollup landscape and how that would change over the coming year. The whole post is still worth reading imo... Read more

UMA provides an optimistic oracle that Prediction markets rely on for resolution. I dislike UMA’s system for a variety of reasons that all circulate around it being an easy attack vector. The process for a market on Polymarket to be initialized and resolved is the following: Decide the market structure (binary, categorical, continuous... Read more

Wasabi is a asset-backed leverage trading protocol specifically designed for long tail assets. Their cap table for their seed round was relatively large, with participation from Electric Capital, Alliance DAO, and many angels.  The idea behind Wasabi is that synthetic indices are inefficient for long tail assets that have infinite... Read more