Weekly Editors' Picks Weekly Editors' Picks (0610-0616)
"Weekly Editor's Picks" is a "functional" column of Odaily. On the basis of covering a large amount of real-time information every week, a lot of high-quality in-depth analysis content will also be released, but they may be hidden in the information flow and hot news, and pass you by.
Therefore, every Saturday, our editorial department will select some high-quality articles that are worth spending time reading and collecting from the content published in the past 7 days. You bring new inspiration.
Now, come and read with us:
Investment and Entrepreneurship
Foresight Ventures: How to profit from the altcoin short squeeze?
"Weekly Editor's Picks" is a "functional" column of Odaily. On the basis of covering a large amount of real-time information every week, a lot of high-quality in-depth analysis content will also be released, but they may be hidden in the information flow and hot news, and pass you by.
Therefore, every Saturday, our editorial department will select some high-quality articles that are worth spending time reading and collecting from the content published in the past 7 days. You bring new inspiration.
Investment and Entrepreneurship
Foresight Ventures: How to profit from the altcoin short squeeze?
The risks of short-squeeze transactions include the temporary modification of rules by encrypted exchanges, the subsequent value return of altcoins, and so on.
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CeFi
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DeFi
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Binance has maintained its dominance in the market, but it is not the only beneficiary of FTX's exit. After FTX, Bitget's derivatives trading volume has grown significantly, while Binance and OKX continue to maintain a favorable position in the derivatives business. After the FTX crash, exchange tokens MX, BGB, and OKB performed strongly.
Bankless: Finding a More Sustainable Token Model
Uniswap Labs releases Uniswap v4 code draft, a glimpse into the main functions
V4 features include hooks+singleton+flash accounting, and the v4 version will be more flexible and concise, saving gas.
The v4 source code is available for four years in a commercial or production environment, at which point it will be permanently converted to the GPL license. As with v3, Uniswap Governance and Uniswap Labs can grant license exceptions.
Web 3.0
Bankless: Finding a More Sustainable Token Model
In the long run, liquidity mining is extremely unsustainable and a bad business model. Protocols are constantly struggling as they need to generate enough revenue to cover emissions-related costs.
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Profit margins of several DeFi blue-chip protocols from January to July 2022
At the infrastructure layer, the decentralization mechanism of Web3 can solve the current risks and problems of AI from the bottom layer, such as privacy protection, data abuse, etc.; provide the necessary elements for AI development (such as computing power, data, providing decentralized market, maximize the use of idle resources, optimize resource utilization and allocation, and promote the development and application of AI large models); make AI more democratic from the bottom level (through decentralized deployment, training and use of AI , while the user's data privacy can be better protected, there is also an opportunity to be rewarded by sharing data).
Bitcoin ecology
Learn about Rare Satoshi's past and present in one article
The blockchain can also be used to record and monitor the behavior of AI, thereby improving the security of AI and promoting the use of automated AI agents in various scenarios.
At the application layer, AI can help the development and popularization of Web3 applications; as a productivity tool, it can help Web3 applications to greatly increase the development speed; as a knowledge engine, it can reduce the interaction and learning costs between users and dApps, and help more users enter Web3; significantly reduce the development of dApps. And the technical threshold of issuing projects.
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Learn about Rare Satoshi's past and present in one article"The five mainstream representation methods of Satoshi (Integer notation, Decimal notation, Degree notation, Percentile notation, Name representation) can be understood as the identity id of Satoshi (satisfying the double notation in the set) Projection concept), that is, any representation can be used to accurately lock a certain satoshi, which is a one-to-one correspondence."The four elements of Rare Satoshi are blocks, difficulty adjustment, halving, and cycle.
Read the "recursive inscription" in one article: Can it set off the next wave of BTC ecology?
/-/content/: Inscription ID
Ethereum and scaling
veDAO Academy: A Quick Look at Recursive Inscriptions, the LEGOs of Ordinals
Ethereum and scaling
After the Shapella upgrade: Yields, competition, and the long-term impact of LSD-Fi
A Quick Look at Ethereum’s Dencun Upgrade
This upgrade includes five EIPs aimed at adding more data storage and lowering fees.
EIP-4844 is the core of this upgrade, which is expected to reduce the gas cost of L2 rollup. EIP-1153 introduces temporary storage opcodes to save costs and simplify gas accounting rules. EIP-4788 improves the design of bridges and stake pools, and will expose the beacon chain block root in the Ethereum Virtual Machine. EIP-5656 introduces a new instruction by which developers can copy specified memory regions. EIP-6780 changes the functionality of the SELFDESTRUCT opcode, removing code that could terminate a smart contract.
After the Shapella upgrade: Yields, competition, and the long-term impact of LSD-Fi
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Historical changes in the relative share of ETH staking
After Merge, staking Ethereum can not only get rewards from the consensus layer, but also rewards from the execution layer. The current combined APR for these two parts is 5.4%.
In 2 months, the priority fee and MEV basically constituted the execution layer's Ethereum pledge income (Validator fee) at a ratio of 55%: 45% (44.12 million: 34.72 million). In terms of the composition of ETH staking income, considering the influence of MEV burn and L2, when the proportion of ETH pledge reaches 30%, the income of ETH pledge will probably be reduced to 3% (including 2.4% consensus layer income and 0.6 % executive layer revenue). This rate of return will have a significant impact on users' enthusiasm for staking.
Due to the high composability of LSD, it actually provides pledged users with higher returns. There are two worlds before us:
1. One is what the Ethereum Foundation hoped to see in the original design: the proportion of ETH pledged is not high enough to maintain security. Most ETH is still used as mortgage assets on the main network to maintain the normal operation of various Dapps. The main body is Solo staker;
2. The other is what we are likely to see actually: due to the existence of one (or several) powerful LSD, more ETH enters liquid staking, and this (or these several) LSD becomes the collateral of each DAPP , to a large extent this (or these few) LSD "became" ETH.
From the current point of view, the probability of the latter appearing is much higher.
The article mainly introduces two types of LSDFi agreements: the agreement to use LST as collateral to CDP to mint USD stable currency, and the agreement to use LST as collateral to CDP to mint WrapETH.
Deciphering the Sequencer: The Key to Guaranteeing the Authenticity of Transactions
As the pledge rate of ETH continues to rise, the scale of ETH continues to decrease, and the scale of LST continues to expand; based on improving the efficiency of fund use, the market demand for lending agreements with LST as collateral will inevitably continue to expand, especially when the market picks up, funds When the risk appetite increases.
Lending agreements are usually divided into two types, one is the deposit and lending model (such as AAVE and Compound), and the other is the CDP coinage model (such as Dai).
Representatives of the CDP WrapETH agreement with LST as collateral include: ZeroLiquid (0 borrowing rate, no liquidation, automatic interest repayment of debt), Ion Protocol (0 borrowing rate, support for EigenLayer re-pledged certificates).
New ecology and cross-chain
Deciphering the Sequencer: The Key to Guaranteeing the Authenticity of Transactions
The importance of decentralized sorters is that as more volume and liquidity move to layer-two solutions (L2), centralized sorters may charge arbitrary prices and leverage user transactions. Since the sequencer usually plays a centralized role, there are the following centralization risks: weak anti-censorship, weak liveness, MEV revenue.
Vitalik Buterin proposes several ways to build a decentralized sorter. These include sorter/block auctions, PoS-based random selection, and DPoS voting, among others. However, most solutions focus on determining which participants have the right to propose the next block or sequence of blocks, often ignoring the ordering mechanism itself.
Zee Prime Capital: Distributed Storage and Business Models in Web3
hot spots of the week
In the past week,In general people's minds, the storage space is dominated by two giants, Filecoin and Arweave, but in terms of usage, Arweave ranks fourth, behind Storj and Sia (although Sia's usage seems to be declining).，There are dominant players in the market today, but the continuation of this dominance depends on the availability of storage resources. Storage network capacity and usage For Arweave's persistent storage, the key to performance is sustainability and cost to the end user. Arweave adopts a one-time pay-perpetual storage model (200 years of upfront payment + assumption of diminishing storage value). This pricing model works for underlying assets in a deflationary pricing environment, relying on continuous goodwill accretion (i.e. old transactions subsidize new ones), but the opposite is true in an inflationary environment. There is no problem with this pricing model in history, because the cost of computer storage has maintained a downward trend since its appearance, but it is not comprehensive to only consider the cost of hard drives. Even with high redundancy set and conservative heuristics used to determine model parameters, the potential risk of loss can never be ruled out.，The only way to achieve permanent storage is to explicitly force someone (or everyone) to implement it, and poor implementation will be eliminated. Any protocol that issues tokens needs to allow the tokens to support some form of economic activity if they want to avoid being shorted. This is particularly effective when the cryptoeconomic model is combined with a specific commodity, which for Layer 1 protocols is computing. And when computing power is combined with some kind of additional commodity, the problem becomes a little easier. In terms of distributed storage networks, the commodity is obviously storage space. Data storage and its derivative finance and securitization can immediately fill the gap in economic activity. In addition to storage and on-chain computing, the potential to combine with off-chain computing. This is because providing storage resources itself requires computing power. This natural fit can increase commercial activity in the DSN while opening up new use cases.，hot spots of the weekIn the past week,"610" strikes, altcoins generally fall by 30%Binance.US Responds to SEC Charges, Asks Court to Deny SEC Request to Freeze Its FundsBinance.US Hires Former Co-Director of SEC Enforcement Division as Counsel to DefendUS Federal Judge Orders Binance, Binance.US and SEC to Participate in Mediation Session, June 15,，Curve stablecoin 3 pool proportion tilt, USDT accounted for 72.87%, Tether CTO:Market sentiment is easily exploitable, ready for any amount of token redemption, the judge ruled,Bittrex US Restarts Withdrawal Service on June 15th，Voyager may reopen its app this month；
, allowing creditors to withdraw about 35% of the cryptocurrency,FTX claims claim website is now accessible, Korean media:Encrypted asset management platform Haru Invest is suspected of closing offline offices and deleting some social media accounts such as Medium and LinkedInSouth Korean encrypted financial company Delio: Due to the impact of the Haru Invest incident, withdrawals have been suspendedIn addition, in terms of viewpoints and voices,，Former SEC Chairman: It is indisputable to incorporate cryptocurrency and blockchain into the financial system, and positively evaluate stable coins,, Hong Kong Legislative Council member Wu Jiezhuang:,Bloomberg:Welcome Coinbase and other virtual asset exchanges to apply for licenses in Hong Kong，Vitalik：Contacted Coinbase and will further explore Coinbase's development opportunities in Hong Kong, Chen Haolian:The Hong Kong government actively participates in the virtual asset value chain and aims to launch a stablecoin regulatory framework by the end of next year，Venus Protocol：Hong Kong regulators meet to push banks to offer services to crypto firms；
Institutions, large companies and top projects,Three major technological transformations that Ethereum needs to go through，- Transition to L2 scaling, everyone moves to Rollup; transition to wallet security, everyone uses smart contract wallets; transition to privacy, ensure privacy-preserving fund transfers are possible, and ensure all other gadgets being developed are protected privacy,，If BNB reaches the liquidation threshold, the BNB Chain team will take over the BNB position on Venus；
NFT and GameFi fields,NFT and GameFi fields,...well, another week of ups and downs.
With "Editor's Picks of the Week" seriesPortal。
See you next time~
