agreed!

incredibly ambitious. if it works, it just might change the fabric of society

love it rinko

none atm, i would def do the zkpass points program, they have $zkp (bullish ticker) announced and the points program is actually a p fun and easy way to see the different types of data points we can access

Thank you!

Yeah, farcaster high level metrics aren’t pretty rn, but you can’t tell that when using it. The timeline is the same as twitter, as in like, for a single person, it doesn’t matter if there are 40k or 5 million users bc the experience is roughly the same. Also the user demographic on farcaster is a higher value on average, lots of KOL type people. Farcaster probably does a better job of algo boosting signal from builder type people, almost like twitter did last cycle.

Regardless, they stuff they are building there is really cool. Rn frames v2 is the biggest tailwind. On a longer time frame, I think capabilities of web3 social will be too much for web2 to compete with, but short term yeah Clanker may rely on ecosystem projects to expand its reach. I’ll be looking at doing a follow up to this once the ecosystem forms better and will look to cover farcaster in that

Touché

Can you elaborate? Seems to me like it is just an experimental pvp form of rate limiting that helps taper off dead tokens/vitalize the battle around the cut line

Yeah Clanker is the bot token and proxy is the proxy swap dao token. Barkbark is a meme and pure degen play, team hasn’t been endorsing it or anything really. Test in prod vibes

Yeah have seen lots smart ppl be bullish wayfinder, was focusing on liquid stuff for this to help quantify the narrative but will def be looking closely at PROMPT leading up to launch!

Make onchain stress-free again!

A+ title

Yeah I still really like IPOR. planning to cover it again when timing is right. The swaps are cool but I think fusion and some of these structured products will succeed first

Yeah absolutely. Defi resurgence murmurs are on the TL, people are bidding AAVE… last time we had a defi bull market, we had KOLs tweeting out asking if anyone knew of defi tokens under 30M mkt cap. Trump has a defi project… def agree tokens are down bad for a reason, but market is pretty complacent rn too. If bunni trashes LIT and starts over I bet it would be 60M+ easy

Update: Spools Announcement is linked here: https://x.com/YieldLayer/status/1836406107398455344

Not anything super groundbreaking right away, but looks like a good direction for them to head in. They are essentially rebranding as YieldLayer and making a composable fungible marketplace type this for yield with smart vaults and strategies. Looks similar to IPOR Fusion at first glance, but they haven't released much info. Minimal token price change so far.

not really sure about the value accrual stuff yet tbh. I have been really interested in Sui from a research perspective lately. I think they are doing all the right things and emphasizing cool areas others are behind on or ignoring.

On the token econ/unlocks/value accrual front, im still wrapping my head around it. This is the only reason i haven't built much of a position yet. Robbie's fat wallet thesis is pretty compelling and seems to agree with your thoughts here.

One thing i do feel fairly confident about is in the medium term the L1 is still going to benefit from real world traction of apps on its chain, and apps themselves will benefit, even without value accrual. Some of the most garbage stocks out there go up and never make any money or issue dividends (ABNB, stuff like that)

I basically think the meta is going to stay mostly the same for now, and ETH's downfall/sentiment change is an outlier and made up of several other factors. I think Sui should be able to cruise on vibes lol

really good post! zkEmail has a lot of elite mindshare and is flying under the radar. zklogin too. i think they are soon getting smooth and available enough to get traction and spark a narrative. (bullish sui)

based and milady pilled

Starknet blew the airdrop 100%. I think best course of action is to do a second one, issue an apology, admit the 1st airdrop logic was redacted, and move on.

Outside of the airdrop though, I don’t think the situation is all that bad. I also find the airdrop to be FAR less impactful than say, rumors of Eigenlayers shenanigans. (Dishonesty wrt points accrued is far worse than incompetence on what everyone accepts is a game anyway) bottom line imo is people forget. Most people have been upset about other airdrops and they move on.

As far as onboarding friction I agree, but it’s nothing different than solana and aptos/Sui. You have to download new wallets for those chains, people are just getting tired of it now. Once you’re onboarded, the UX is quite sleek and Argent is probably the best wallet I’ve used (I also like Backpack a lot).

Starknet is def an existential risk for Ekubo but we’re seeing a ton of that attitude baked into its val. There have been vaporware Bitcoin AMMs that trade at 150M

For interest rates, Infinity pools has 2 components: an impermanent loss factor that is priced similarly to black sholes for options, and a utilization factor. The utilization factor depends on where the user places the LP range (narrow range close to price = better for volume).
Infinity pools is/was highly confident in ability to get LP returns in the region of realized volatility, and depending on their LP placement and platform adoption, up to implied volatility.

It has been a while since this report and i think Infinity pools is finally gearing up to launch. ill check out what they have changed and post an update soon!