Pendle is a fully on-chain protocol that incentivizes the pooling of yield generating assets and the creation of yield markets across DeFi platforms

Pendle

Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions. Mayday Mayday Mayday Some of you degens were screaming “Mayday” as you watched crypto markets puke from mid-April until the present. There was so much pain that momentum-chasing paper hands like proclaimed that they were “done” with crypto. As if – she will dutifully return posting crypto thirst traps once Bitcoin is back trending up and to the right in short order. Irene Zhao The price action played out as I expected. US tax season, consternation over what the Fed will do, the Bitcoin halving sell the news event, and a slowdown of US Bitcoin ETF asset under management (AUM) growth coalesced over the prior fortnight to produce a well-needed market cleansing. The tourists will sit out the next phase on the beach… if they can afford it. Us hard motherfuckers will hodl, and if possible, accumulate more of our favorite crypto reserve assets such as Bitcoin and Ether, and/or high-beta shitcoins like Solana, Dog Wif Hat, and dare I say Dogecoin (the OG doggie coin). This is not meant to be a fully fleshed-out global macroeconomics, politics, and crypto essay. Rather, I want to highlight why the US Treasury, Federal Reserve (Fed), and the Republic First Bank bailout provide fiat liquidity or a path to increased fiat liquidity now and into the near future. I will quickly step through a few tables that underpin my boooolishness. QT Taper = QE When the average muppet equates quantitative easing (QE) with printing money and inflation, it spells trouble for the elites. Therefore they need to change up the nomenclature and method of providing the junkie, that is, the fiat financial system, its hit of monetary heroin. Reducing the pace of asset runoff from the Fed’s balance in accordance with their quantitative tightening (QT) program sounds benign. But make no mistake – by reducing the rate of QT from $95 billion to $60 billion per month, the Fed is essentially adding $35 billion per month of dollar liquidity. When you combine the Interest on Reserve Balances, RRP payments, and interest payments on US Treasury debt, the reduction in QT increases the amount of stimulus provided to the global asset markets each month. The Fed announced this week that it would taper QT by the aforementioned amounts at its May 2024 meeting. Using a handy chart, let us examine the dollar liquidity situation before and after the meeting. Before Size of Facility Rate PA Monthly Amount (USD Bn) Interest Expense NA NA $88.27 IORB 3271.706 5.40% $14.72 RRP 438.148 5.30% $1.94 QT NA NA -$77.59 Total $27.34 Note that the QT line item is the actual monthly average taper amount in 2024 based on the . As you can see, the Fed has undershot the monthly target of $95 billion. It begs the question of whether the target is $60 billion per month and whether the Fed will undershoot that as well. Undershooting the target pace is positive for dollar liquidity. Fed’s weekly reported balance sheet After Size of Facility Rate PA Monthly Amount (USD Bn) Interest Expense NA NA $88.27 IORB 3271.706 5.40% $14.72 RRP 438.148 5.30% $1.94 QT NA NA -$60.00 Total $44.93 Increase in $ Liq per Month 64.32% “High” interest rates, which require the Fed and US Treasury to hand out interest payment stimmies to rich folks, coupled with a reduction in the pace of QT, are even more stimulative. Please read “ ” to understand what each line item means. Kite or Board That’s what beta cuck towel boy Powell is up to. What about his dominatrix, Bad Gurl Yellen? US Treasury Quarterly Refunding Announcement (QRA) Because the US is in the throes of fiscal dominance, Bad Gurl Yellen's pronouncements are more important than those of any other monetary official. Every quarter, the US Treasury publishes the QRA to guide the market as to the quantity and type of debt that must be issued to fund the government. Before the 2Q24 QRA, I had questions: Would Yellen be borrowing more or less than last quarter, and why? What is the maturity profile of the debt to be issued? What would be the target Treasury General Account (TGA) balance? Question 1: During the April – June 2024 quarter, Treasury expects to borrow $243 billion in privately-held net marketable debt, assuming an end-of-June cash balance of $750 billion. The borrowing estimate is $41 billion higher than announced in January 2024, largely due to lower cash receipts, partially offset by a higher beginning of-quarter cash balance. [2] [3] Source: QRA That’s no bueno if you are a holder of Treasuries. There will be more supply, and tax receipts were underwhelming despite the roaring US economy and stonk markets. This hastens the pace at which the bond market throws a fit and ratchets long-end rates markedly higher. Yellen’s response to that will be some form of yield curve control, and that’s when Bitcoin begins its ascent for realz to $1 million. Question 2: Given current fiscal forecasts, the Treasury Department expects to increase the 4-, 6-, and 8-week bill auction sizes in the coming days to ensure sufficient liquidity to meet our one-week cash needs around the end of May.  Then, in anticipation of the June 15th non-withheld and corporate tax date, Treasury expects to implement modest reductions to short-dated bill auction sizes during early to mid-June.  Subsequently, throughout July, the Treasury Department anticipates returning short-dated bill auction sizes to levels at or near the highs from February and March. Source: QRA Yellen needs to increase the issuance of short-dated bills because the market couldn’t handle it if she swung her BSD at the long end of the curve. The added benefit of issuing more bills is that it drains the RRP, which adds dollar liquidity to the system. To understand why, please read “ ”. Bad Gurl Question 3: During the July – September 2024 quarter, Treasury expects to borrow $847 billion in privately-held net marketable debt, assuming an end-of-September cash balance of $850 billion. Source: QRA The TGA balance target is $850 billion. It currently stands at $941 billion, which equates to a roughly $90 billion reduction over the next three months. To understand why, please read “ .” Bad Gurl The impact of this QRA is mildly dollar liquidity positive. It is not a bombshell like the November 2023 announcement, which sent bond, stonk, and crypto prices flying. But it will help pump our bags slowly over time. Republic First Bank Have you ever heard of this tiny, piece-of-shit bank? I hadn’t, until they went bust. The fact that another non-Too Big To Fail (TBTF) bank failed is not noteworthy. But what is important is the response of the monetary mandarins in charge of the Pax Americana. The US government (via the FDIC) insures deposits in any US bank up to $250,000. When a bank fails, uninsured depositors should get zeroed. However, that is politically unpalatable in an election year, especially if the powers that be have continuously assured the public the banking system is sound. Here is an excerpt from the : FDIC As of January 31, 2024, Republic Bank had approximately $6 billion in total assets and $4 billion in total deposits.  The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) related to the failure of Republic Bank will be $667 million. The FDIC determined that compared to other alternatives, Fulton Bank’s acquisition of Republic Bank is the least costly resolution for the DIF, an insurance fund created by Congress in 1933 and managed by the FDIC to protect the deposits at the nation’s banks. Understanding what happened in plain speech requires reading between the lines. Fulton agreed to purchase Republic First and ensure all depositors were made whole only if the FDIC ponied up some cash. The FDIC insurance gave Fulton $667 million so that all Republic First depositors were made whole. Why is the insurance fund being used for all deposits when some deposits were not insured? The reason is that if all deposits weren’t covered, then a bank run would start. Any large depositor with a non-TBTF bank would instantly transfer money to a TBTF bank, which sport a full government guarantee of all deposits. Subsequently, thousands of banks would go under across the country. That is not a good look in a democratic republic with elections every two years. Once the public is educated that the bank failures are 100% due to Fed and US Treasury policy, some overpaid idiots will have to get real jobs. Rather than suffer at the ballot box, those in charge essentially now guarantee all deposits in the US banking system. That is a stealth addition of $6.7 trillion, as this is the amount of uninsured deposits as . reported by the St. Louis Fed This leads to money printing because the FDIC’s insurance fund doesn’t have $6.7 trillion. Maybe they need to ask CZ for advice because funds ain’t SAFU. Once the fund is exhausted, the FDIC will borrow money from the Fed, which will print money to satisfy the loan. Like the other stealth money printing policies discussed in this essay, there is no massive liquidity injection today. However, we now know with full confidence that trillions of contingent liabilities have been added to the Fed’s balance sheet, which will be funded with printed money. Buy in May, Go Away! The slow addition of billions of dollars of liquidity each month will dampen negative price movement from here on out. While I don’t expect crypto to fully realize the recent US monetary announcements' inflationary nature immediately, I expect prices to bottom, chop, and begin a slow grind higher. As the northern-hemispheric summer kicks into full gear, crypto muppets will be out enjoying being pre-rich at all the usual hot spots. I see you at DC10, Scorpios, Chiltern … I see you playa. I certainly won’t be babysitting Bitcoin when I could be two-stepping. The recent intense puke out provides an excellent opportunity to unstake my and spend synthetic dollars on high beta shitcoins. USDe I’m buying Solana and doggie coins for momentum trading positions. For longer-term shitcoin positions, I’m upping my allocations in Pendle* and will identify other tokens that are “on sale.” I will use the rest of May to increase my exposure. And then it’s time to set it, forget it, and wait for the market to appreciate the inflationary nature of the recent US monetary policy announcements. 同志们好 China is not to be forgotten. The CNY will be devalued, but it won’t be against USD; rather, it will be against gold and Bitcoin. I will explain this theory in an in-depth essay later this summer. For those of you who need bullet points on my predictions, here you go: Yes Did Bitcoin hit a local low at around $58,600 earlier this week? A rally to above $60,000 and then range-bound price action between $60,000 and $70,000 until August. What is your price prediction? Yes. Are the recent Fed and Treasury policy announcements stealth forms of money printing? Yachtzee!! Disclaimer: I am an advisor to and investor in Pendle, and have received Pendle tokens as compensation for my advisory services.

Mayday

মে দিবস

Maifeiertag

May Day

Au secours

मई दिवस

メーデー

노동절

Socorro

Первое мая

Mayıs günü

ngày tháng năm

劳动节

Recently, the dynamics of Shiba Inu (SHIB), Ethereum (ETH), and exemplify the diverse strategies and outcomes unfolding in the market. Shiba Inu, often swayed by market sentiments, is currently experiencing a downturn, with its price dipping below $0.000019 earlier in the day before coming to its current level. Despite this, the team behind SHIB remains optimistic, hinting at potential rebounds linked to significant developments such as new ETF approvals. Ethereum, on the other hand, has seen its whales actively capitalizing on recent price dips, indicating a strong belief in its long-term value despite immediate market fluctuations. Meanwhile, Furrever Token is making significant strides in its presale stages, quickly approaching a $790,000 milestone, signaling strong investor confidence and community support. Furrever Token (FURR) Shiba Inu (SHIB) Eyes Bitcoin Halving as Price Dips Below $0.000019 Shiba Inu (SHIB), a widely recognized meme coin, has recently undergone a significant downturn in its market value amidst the general crypto market volatility. Currently, SHIB is trading at $0.00002184, experiencing an 11.43% decrease over the past 24 hours, which has led its market capitalization to shrink to $12.86 billion, ranking it 12th among cryptocurrencies. Despite this decline, SHIB’s trading volume has surged by 57.08%, amounting to $1.85 billion, indicating heightened market activity. The recent trading pattern saw SHIB’s price briefly dip below $0.000019 before rebounding to its current level. This fluctuation follows a notable drop below the key resistance level of $0.00003 last week. The ongoing adjustments in market strategies among investors are largely in response to SHIB’s performance and broader market trends, which have seen the coin's value drop by over 24% in the past week, contributing to a 32% fall over the last month. As the market edges closer to the Bitcoin halving event, there is speculative anticipation about its impact on various cryptocurrencies, including SHIB. Historically, Bitcoin halving events, which reduce the reward for mined blocks and thus lower the rate at which new bitcoins are introduced to the market, have led to price increases across the cryptocurrency spectrum in the months following the event. Shiba Inu’s team maintains a positive outlook, reinforcing confidence among investors. Market strategist Lucie has commented on the market’s volatility, reassuring investors of the coin's strong foundational strategies and its potential inclusion in upcoming financial products like a new Hong Kong ETF. This development could provide SHIB with broader exposure to investors and potentially catalyze an increase in its market value. From a technical standpoint, SHIB shows a bullish trend on the daily timeframe, with the 50-day moving average currently sloping upwards and positioned above the current price, indicating it might act as resistance in future interactions. Meanwhile, the 200-day moving average continues to slope upwards since March 15, 2024, suggesting a strong underlying bullish trend. This average is below the current price, pointing to its potential role as a support level that could foster a continuation of the upward trend. Despite the optimistic indicators from the moving averages, the immediate forecast for SHIB remains cautious, given the current market uncertainties and the historical volatility associated with meme coins. Investors are advised to monitor these levels closely, as a breakout above the resistance level at $0.000025 could pave the way for SHIB to target the next significant milestone of $0.00003 and potentially even the $0.001 mark in the long term. As SHIB navigates through the current market turbulence with strategic reassurances from its team, all eyes are on the upcoming Bitcoin halving, which may serve as a critical catalyst for recovery and growth in Shiba Inu’s price trajectory. Investors remain watchful, hoping for favorable market conditions that could drive a significant rebound in SHIB’s valuation. Ethereum (ETH) Price Turmoil: Whales Capitalize on Dip Below $3,000 Support Ethereum (ETH), the world's second-largest cryptocurrency by market capitalization, has witnessed a significant price decline, dropping to recent lows of $2,850. This downturn, which saw Ethereum's price fall from a high of $3,617 to $2,850 on April 13, has been met with strategic buying from large-scale investors, commonly referred to as 'whales', who appear to be leveraging the dip as a major buying opportunity. During this turbulent period, an Ethereum whale, identified by the wallet address "0x435", executed a substantial purchase, acquiring 23,790 ETH by spending 70 million USDC. This purchase occurred as the price of Ethereum dipped close to $2,942. SpotOnChain, an on-chain analytics provider, highlighted this activity, noting that the whale's buying spree began several days prior to the sharp decline, incorporating both centralized exchanges like Binance and decentralized platforms. Further insights from Lookonchain revealed that this particular whale had withdrawn a staggering 37,018 ETH, valued at approximately $120.7 million, from Binance. Over the last 24 hours, this investor amassed 60,808 ETH, worth about $191 million, and over the past five days, withdrew 62,141 ETH, valued at $202.6 million, from the same exchange. Presently, the whale's holdings include 85,931 ETH, worth roughly $278 million, alongside an additional $136 million in USDT and USDC stablecoins held in Aave. This pattern of accumulation was not isolated to a single investor. Another notable instance involved a new whale wallet tagged as "0xE347", which transferred 7,300 ETH worth $23.8 million from Binance to Pendle Finance, indicating a similar strategy of capitalizing on lower prices. As of the latest updates, Ethereum's price stood at $3,057, marking a 7.05% decline over the last 24 hours but showing a slight recovery from the intraday low of $2,880. This price action is reflective of the broader cryptocurrency market, which has experienced significant sell-offs recently. The actions of Ethereum whales during this downturn suggest a strong belief in the long-term value of Ethereum despite short-term volatility. Their significant acquisitions during these lower price levels may indicate a readiness to hold through potential future recoveries. As the market adjusts to these dynamics, the activities of large holders will be crucial in shaping Ethereum's path forward. This period may well be a critical test of resilience for Ethereum's broader market sentiment and investor confidence. Furrever Token’s (FURR) Presale Exceeds $790,000 as Bitcoin Halving Approaches is quickly establishing itself as a key player in the ever-changing cryptocurrency landscape, capturing significant attention with its strong growth potential and lucrative opportunities for investors. Demonstrating outstanding success through its presale stages, FURR has consistently attracted significant capital. Currently, in its sixth presale phase, the token has raised over $790,000, illustrating both its popularity and the solid backing from the cryptocurrency community. Furrever Token (FURR) The potential for investors to realize up to 15X returns on their investments from each presale stage makes FURR an exceptionally attractive option within the cryptocurrency market. With a price point of just $0.00048, FURR offers an appealing entry for investors eager to participate in its projected growth trajectory. Enhancing FURR’s appeal is the robust community support it enjoys. Boasting over 4,200 active members on its official Telegram channel, FURR serves as a vibrant hub for discussions, collaborations, and regular updates, which enrich the investment experience for its members. Looking to the future, FURR’s strategic roadmap and developmental plans demonstrate a firm commitment to carving out a dominant position within the meme coin sector. The team behind FURR is focused on implementing innovative features, forging strategic partnerships, and conducting targeted marketing efforts—all aimed at increasing the token's adoption and enhancing its market value. In essence, Furrever Token presents a compelling investment opportunity backed by solid fundamentals, an active and engaged community, and a promising outlook for substantial growth. As FURR advances towards its strategic goals, it is poised to deliver significant returns to early investors who tap into its potential. Secure the Most Exclusive Presale Opportunity of 2024 Today! | | Furrever Token Official Website Visit Furrever Token Presale Join Official Telegram Group Follow Official X Account This story was distributed as a release by ZEX MEDIA under HackerNoon’s Brand As An Author Program. Learn more about the program . here

Recent Market Dynamics in Crypto: ETH Whales, SHIB's Downturn, and Furrever Token's Presale Surge

ক্রিপ্টোতে সাম্প্রতিক বাজারের গতিশীলতা: ETH তিমি, SHIB-এর মন্দা, এবং Furrever Token-এর Presale Surge

Aktuelle Marktdynamik im Kryptobereich: ETH-Wale, SHIB-Abschwung und Anstieg des Vorverkaufs von Furrever-Token

Dinámica reciente del mercado de criptomonedas: ballenas ETH, caída de SHIB y aumento de la preventa del token Furrever

Dynamique récente du marché de la cryptographie : baleines ETH, ralentissement de SHIB et augmentation des préventes de Furrever Token

क्रिप्टो में हालिया बाजार गतिशीलता: ETH व्हेल, SHIB की मंदी, और फुर्रेवर टोकन की प्री-सेल वृद्धि

最近の暗号通貨市場の動向: ETH クジラ、SHIB の下落、Furrever Token のプレセールの急増

최근 암호화폐 시장 역학: ETH Whales, SHIB의 침체, Furrever Token의 사전 판매 급증

Dinâmica recente do mercado em criptografia: baleias ETH, desaceleração do SHIB e aumento de pré-venda do Furrever Token

Недавняя динамика рынка криптовалют: киты ETH, спад SHIB и предпродажный всплеск токена Furrever

Kriptoda Son Piyasa Dinamikleri: ETH Balinaları, SHIB'in Gerilemesi ve Furrever Token'ın Satış Öncesi Artışı

Động lực thị trường gần đây về tiền điện tử: Cá voi ETH, sự suy thoái của SHIB và đợt bán trước đột ngột của mã thông báo Furrever

加密货币的近期市场动态：ETH 巨鲸、SHIB 的低迷以及 Furrever Token 的预售激增

SINGAPORE, Singapore, April 3rd, 2024/Chainwire/--Skate is backed by leading founders in web3, including EigenLayer, Polygon, Manta, Axelar, Pendle, A41 and Galxe, supporting its vision to make web3 efficient for a modular future by solving application fragmentation
Range Protocol, a unified liquidity provisioning platform, today announced the launch of Skate, the universal application layer that empowers apps to run on thousands of chains with one state. Designed with an intent-centric approach, Skate aims to efficiently address the application fragmentations as a single hub for all code deployment across all chains. Backed by leading web3 players, including EigenLayer, Polygon, Manta, Axelar, Biconomy, Pendle, A41, Vertex, Navi, Galxe, Pontem and more, Skate will deliver its vision with faster finality and universal application scope, paving the way for its mainnet launch within the year. In today’s multi-chain landscape, applications face pressing needs to deploy, adapt and maintain across an increasing number of chains. Skate introduces the concept of a Universal Application Scope, where essential applications are developed collectively and maintained in a shared pool accessible to all chains — regardless of its underlying Virtual Machine environment. With Skate, users and developers are able to efficiently and instantly access thousands of chains by interacting with one application instance. Siddharth Lalwani, Co-Founder and CEO of Range Protocol shared, “The rise of modularity powered innovations such as improved throughput and reduced transaction costs. However, it also came with its own set of challenges, most notably, application fragmentation. Skate introduces the concept of the Universal Application Layer, where essential applications are developed collectively, and maintained in a shared pool accessible to all chains. This ensures foundational needs of builders and users are met efficiently, allowing each chain to focus on creating value-added services and laying the building blocks for a modular future.” Move from Duplication to Innovation: One Skate, One State Skate is the only intent-centric application layer in the ecosystem, enabling applications to run across thousands of chains and different tech stacks at the same time through a single interface. Moving past duplication of deployments, Skate works as a hub for deploying, developing and maintaining a singular version of smart contracts while servicing users across diverse chains. One of the key innovations of Skate is the embedding of interoperability within the application logic, reversing the legacy approach of building apps first and integrating interoperability afterwards. Skate ensures that all applications are created with interoperability as a foundational component, streamlining the development process and removing the necessity to bridge assets, but also significantly enhances the user experience by providing a fluid, interconnected ecosystem where transactions and information flow effortlessly between chains. Aside from the underlying interoperability networks, Skate will be connected to all the blockchains through Fast Finality Network, secured by EigenLayer actively validated service (AVS), to send state attestations from Skate with sufficient trust minimized assumptions. This brings instantaneous cross-chain intent-driven settlements and reduces slippage when making trades while removing unnecessary complexities from an end-user perspective. Securing the Modular Future, Backed by Web3 Pioneers The launch of Skate is supported by buy-ins from leading web3 players, including EigenLayer, Polygon, Manta, Axelar, Biconomy, Pendle, A41, Vertex, Navi, Galxe, Pontem and more. Forged by the same team of financial engineers and web3 developers behind Range Protocol, a unified liquidity provisioning platform covering key DeFi asset classes, the Skate team brings deep cumulative experience from leading companies like Altonomy, Point72, Bybit, Certik and Citigroup. Skate’s launch also follows Range Protocol’s $3.75M seed round last year, led by HashKey Capital and Nomad Capital. In the coming months, Skate aims to introduce Testnet Campaigns to community members with unique incentives. To keep up to date on Skate and its upcoming testnet campaigns, make sure you follow their Twitter: . https://twitter.com/skate_chain About Range Protocol and Skate Underpinned by robust on-chain trading infrastructure, Range Protocol is a unified liquidity provisioning platform. Harnessing advanced expertise and professional strategies, Range Protocol covers key DeFi asset classes through its vault offerings. Combining the best of automated market makers (AMMs) and request-for-quote (RFQ), Range Protocol empowers sound decision-making and optimized strategies for the next generation of investors — with no intermediaries needed. Forged by a team of financial engineers and web3 developers with extensive crypto trading proficiencies, Range Protocol brings deep experience from leading companies like Altonomy, Point72, Bybit, Certik and Citigroup. Its most recent $3.75M seed round was led by HashKey Capital and Nomad Capital. Range now expands into Skate, the universal application layer that empowers apps to run on 1000s of chains with one state. Skate was born with the realization of the limitations of the legacy on-chain trading infrastructure, which deploys repetitive blocks on every new chain. Underpinned by innovation, Skate delivers fast finality across all chains, secured by EigenLayer actively validated service (AVS), and acts as a single hub for all code deployments. Separating assets from pricing, Skate introduces the concept of a Universal Application Scope, where essential applications are developed collectively and maintained in a shared pool accessible to all chains — regardless of its underlying Virtual Machine environment. Solving for dApp/chain-liquidity fragmentation in a modular web3 landscape, Skate ensures foundational needs are met efficiently, allowing each chain to focus on creating unique, value-added services. For more information, please visit: Website: Twitter/X: http://skatechain.org/ https://twitter.com/skate_chain Contact Skate / Range Protocol range@wachsman.com This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here.

Range Protocol Unveils Skate: An App Layer Powering Apps To Run On All Chains With One State

রেঞ্জ প্রোটোকল স্কেট উন্মোচন করেছে: একটি অ্যাপ্লিকেশান লেয়ার পাওয়ারিং অ্যাপ্লিকেশানগুলি একটি রাজ্যের সাথে সমস্ত চেইনে চালানোর জন্য

Range Protocol stellt Skate vor: eine App-Schicht, die es Apps ermöglicht, auf allen Ketten mit einem Status zu laufen

Range Protocol presenta Skate: una capa de aplicaciones que permite que las aplicaciones se ejecuten en todas las cadenas con un solo estado

Range Protocol dévoile Skate : une couche d'application permettant aux applications de fonctionner sur toutes les chaînes avec un seul état

रेंज प्रोटोकॉल ने स्केट का अनावरण किया: एक ऐप लेयर जो ऐप्स को एक स्टेट के साथ सभी चेन पर चलाने की शक्ति प्रदान करता है

Range Protocol が Skate を発表: 1 つの状態ですべてのチェーン上でアプリを実行できるようにするアプリ層

Range Protocol, 스케이트 공개: 앱이 하나의 상태로 모든 체인에서 실행되도록 지원하는 앱 레이어

Range Protocol revela Skate: uma camada de aplicativo que permite que aplicativos sejam executados em todas as cadeias com um estado

Range Protocol представляет Skate: уровень приложений, позволяющий запускать приложения во всех цепочках с одним состоянием

Range Protokolü Skate'i Tanıtıyor: Uygulamaların Tüm Zincirlerde Tek Durumla Çalıştırılmasına Güç Veren Bir Uygulama Katmanı

Range Protocol ra mắt Skate: Lớp ứng dụng hỗ trợ các ứng dụng chạy trên tất cả các chuỗi với một trạng thái

Range Protocol 推出 Skate：一个应用层，为所有链上运行的应用提供支持

This paper is available on arxiv under CC 4.0 license. Authors: (1) Qin Wang, CSIRO Data61, Australia; (2) Shiping Chen, CSIRO Data61, Australia. Table of Links Abstract & Introduction Ethereum Accounts Account Abstraction Security Analysis Further Discussions Conclusion & References VI. CONCLUSION In this paper, we explore the notion of account abstraction (featured by EIP-4337), which is formally involved the sixth stage of Ethereum’s roadmap. We study its operating mechanism, key features, and surrounding developments. We also examine its security by assessing a set of related criteria. Our results reveal the scope and extent of the security improvements introduced by the adoption of account abstraction. To our knowledge, this work provides the first formal AA study. REFERENCES [1] G. Wood et al., “Ethereum: A secure decentralised generalised transaction ledger,” Ethereum project yellow paper, vol. 151, no. 2014, pp. 1–32, 2014. [2] @jmcook1186, “Ethereum accounts,” Retrived https://ethereum.org/en/developers/docs/ accounts/ , 2023. [3] “Ethereum: ERC-4337,” https://www.erc4337.io/ , 2023. [4] Ethereum, “Ethereum roadmap: Account abstraction,” https://ethereum.org/en/ roadmap/account-abstraction/ , 2023. [5] T. T., “Ethereum EVM illustrated,” https://takenobu-hs.github.io/ downloads/ethereum evm illustrated.pdf , 2023. [6] A. K. Singh, I. U. Hassan, G. Kaur, S. Kumar et al., “Account abstraction via singleton entrypoint contract and verifying paymaster,” International Conference on Edge Computing and Applications (ICECAA), pp. 1598– 1605, 2023. [7] C. Colin, “Biance research: A primer on account abstraction,” https:// research.binance.com/static/ pdf/ a-primer-on-account-abstraction.pdf , 2023. [8] A. Emmanuel, “Account abstraction: Past, present, future,” https://metamask.io/news/latest/ account-abstraction-past-present-f uture/ , 2023. [9] Alchemy, “How ERC-4337 supports account abstraction,” https://www.alchemy.com/learn/ account-abstraction, 2023. [10] Moderate, “Coinmarketcap: Account abstraction,” https://coinmarketcap.com/ alexandria/glossary/account-abstraction, 2023. [11] aleksandrmalyshev, “What is account abstraction and why is everyone talking about it?” https://hackernoon.com/what-is-account-abstraction-and-why-is-everyone-talking-about-it, 2023. [12] Q. Wang, R. Li, Q. Wang, S. Chen, M. Ryan, and T. Hardjono, “Exploring Web3 from the view of blockchain,” arXiv preprint arXiv:2206.08821, 2022. [13] S. Park, J. H. Lee, S. Lee, J. H. Chun, H. Cho, M. Kim, H. K. Cho, and S.-M. Moon, “Beyond the blockchain address: Zero-knowledge address abstraction,” Cryptology ePrint Archive, 2023. [14] Q. Wang, R. Li, Q. Wang, and S. Chen, “Non-fungible token (NFT): Overview, evaluation, opportunities and challenges,” arXiv preprint arXiv:2105.07447, 2021. [15] “Sapienz wallet,” https://www.sapienz.xyz/ , 2023. [16] B. Andrew, G. Catherine, R. Srini, M. Mohsen, and K. Ranjit, “Visa: Auto payments for self-custodial wallets,” https://usa.visa.com/solutions/crypto/ auto-payments-f or-self-custodial-wallets.html, 2023. [17] “Safe wallet,” https:// safe.global/wallet, 2023. [18] “Argent wallet,” https://www.argent.xyz/ , 2023. [19] “Bravvos wallet,” https://braavos.app/ , 2023. [20] H. Chen, M. Pendleton, L. Njilla, and S. Xu, “A survey on Ethereum systems security: Vulnerabilities, attacks, and defenses,” ACM Computing Surveys (CSUR), vol. 53, no. 3, pp. 1–43, 2020. [21] P. Tsankov, A. Dan, D. Drachsler-Cohen, A. Gervais, F. Buenzli, and M. Vechev, “Securify: Practical security analysis of smart contracts,” in Proceedings of the ACM SIGSAC Conference on Computer and Communications Security (CCS), 2018, pp. 67–82. [22] L. Su, X. Shen, X. Du, X. Liao, X. Wang, L. Xing, and B. Liu, “Evil under the sun: Understanding and discovering attacks on ethereum decentralized applications,” in USENIX Security Symposium (USENIX Sec), 2021, pp. 1307–1324. [23] P. Tolmach, Y. Li, S.-W. Lin, Y. Liu, and Z. Li, “A survey of smart contract formal specification and verification,” ACM Computing Surveys (CSUR), vol. 54, no. 7, pp. 1–38, 2021. [24] W. Zou, D. Lo, P. S. Kochhar, X.-B. D. Le, X. Xia, Y. Feng, Z. Chen, and B. Xu, “Smart contract development: Challenges and opportunities,” IEEE Transactions on Software Engineering (TSE), vol. 47, no. 10, pp. 2084–2106, 2019. [25] J. Krupp and C. Rossow, “teEther: Gnawing at Ethereum to automatically exploit smart contracts,” in USENIX Security Symposium (USENIX Sec), 2018, pp. 1317–1333. [26] L. Brent, N. Grech, S. Lagouvardos, B. Scholz, and Y. Smaragdakis, “Ethainter: a smart contract security analyzer for composite vulnerabilities,” in Proceedings of the ACM SIGPLAN Conference on Programming [27] Z. Wan, X. Xia, D. Lo, J. Chen, X. Luo, and X. Yang, “Smart contract security: A practitioners’ perspective,” in IEEE/ACM International Conference on Software Engineering (ICSE). IEEE, 2021, pp. 1410–1422. [28] X. Zhang et al., “Time-manipulation attack: Breaking fairness against proof of authority Aura,” in Proceedings of the ACM Web Conference (WWW), 2023, pp. 2076–2086. [29] Q. Wang, B. Qin, J. Hu, and F. Xiao, “Preserving transaction privacy in Bitcoin,” Future Generation Computer Systems (FGCS), vol. 107, pp. 793–804, 2020. [30] A. Kosba, A. Miller, E. Shi, Z. Wen, and C. Papamanthou, “Hawk: The blockchain model of cryptography and privacy-preserving smart contracts,” in IEEE Symposium on Security and Privacy (SP). IEEE, 2016, pp. 839–858. [31] R. Li et al., “SoK: TEE-assisted confidential smart contract,” Proceedings on Privacy Enhancing Technologies, vol. 3, pp. 711–731, 2022. [32] G. Yu, X. Wang et al., “Towards web3 applications: Easing the access and transition,” arXiv preprint arXiv:2210.05903, 2022.

Account Abstraction, Analysed: Conclusion & References

GEORGE TOWN, Grand Cayman, March 27th, 2024/Chainwire/-- Zircuit, a fully EVM-compatible ZK rollup with parallelized circuits and AI-enabled security, today launched its Build to Earn program to incentivize builders, founders, and community members who contribute to the Zircuit ecosystem. Backed by Pantera Capital, Dragonfly Capital, and Maelstrom, Zircuit currently has over $800M staked. Zircuit is a playground for new applications and open experimentation, and projects that launch on Zircuit will benefit from higher security guarantees and protection from hacks through its groundbreaking AI-enabled security features. Zircuit launched its Build to Earn program that supercharges the developer experience for new builders onboarding onto the Zircuit Network. Developers and ecosystem contributors who participate in Zircuit’s Build to Earn program stand to receive rewards for approved contributions. Developers and ecosystem contributors can participate in Build to Earn in the following ways: Building a Mainnet Day 1 Launch project Developing ecosystem tools Deploying critical infrastructure Referring Zircuit to builders Investing in Zircuit Day 1 Launch projects Zircuit is scaling its ecosystem with applications in fast-growing categories including restaking applications, AI, and DeFi. Projects that join Zircuit through Build to Earn will join the growing list of top-tier launch partners including Ethena, Ether.fi, KelpDAO, Renzo, Hashflow, API3, Galxe, Elixir, Blocto, Eigenpie, and many others. The Build to Earn program follows the successful launch of Zircuit’s staking program. allows users to pre-commit assets to the network that will be migrated upon Zircuit mainnet launch. Users can deposit ETH, liquid staking tokens (LSTs), liquid restaking tokens (LRTs), USDe (Ethena USD) to earn Zircuit Points. Zircuit most recently partnered with to bring even more yield to Renzo Protocol's ezETH. Zircuit Staking Pendle To participate in Build to Earn, users can visit: https://build.zircuit.com/ To participate in Zircuit Staking, users can visit: https://stake.zircuit.com/ About Zircuit is a fully EVM-compatible ZK rollup with parallelized circuits and AI-enabled security at the sequencer level. Built by a team of web3 security veterans and PhDs in computer science, algorithms, and cryptography, Zircuit is backed by Pantera Capital, Dragonfly Capital, and Maelstrom. To learn more visit or follow us on Twitter/X Zircuit zircuit.com @ZircuitL2 Contact Jessica Graber Zircuit jessica@zircuit.com This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here.

Zircuit Launches Build To Earn Program To Reward Ecosystem Contributors

A big event is now taking place in the heart of Singapore, a nation that is well-known for its innovative and financial practices, and it is likely to have a huge influence on the field of decentralised finance (DeFi). For Thetanuts Finance, this endeavour, which focuses on reinvesting and producing Liquid Restaking Tokens (LRTs), represents a big step forward in comparison to previous endeavours. This also represents the beginning of a new century for users of Pendle's PT-eETH, which will give them with opportunities that have never been made available to them before to maximise their profits in areas that have not been explored before. Now, let's have a look at this incredible innovation and how it will fundamentally revolutionise the way that investors in decentralised finance make choices. A Leap into the Future of Staking Imagine if the Ethereum (ETH) that you have staked is actively protecting other networks and providing you with rewards that go above and beyond the Ethereum Mainnet. The minds behind restaking, EigenLayer, made it happen, so it's not just a dream. Through the usage of $stETH in liquid restaking protocols, restaking enables users to create "Liquid Restaking Tokens" (LRTs), a novel kind of asset that is expected to transform return generation. Leading this change is EtherFi, whose Total Value Locked (TVL) is more over $2.5 billion. Users may now mint LRTs—specifically, $eETH—thanks to EtherFi. By doing so, they can have access to additional perks like EigenLayer points and protocol loyalty points. However, since they increase the potential rewards to a whole new level, third-party LRTs like Pendle Finance's PT-eETH are what truly pique people's attention. The Innovation of PT-eETH With a fixed annual percentage rate (APY) of around 20% and the guarantee of payback for $eETH at a 1:1 ratio at the conclusion of the period, Pendle Finance's PT-eETH stands out as a real novelty. Pendle Finance distinguishes itself in the competitive DeFi industry by providing investors with a unique opportunity to get consistent rates and transparent profits. Thetanuts Finance: Pioneering New Frontiers As far as on-chain options protocols go, Thetanuts Finance is in the forefront. It is currently entering the LRT industry with its Leveraged LRT Strategy Vault. This vault is not simply another DeFi product; rather, it is a strategically important tool intended to maximise the potential of $PT-eETH and provide customers with previously unheard-of returns growth. Imagine 'zapping' your $PT-eETH into a yield generation maelstrom, where it remains in one place and works to generate more profits. The Leveraged LRT Strategy Vaults from Thetanuts Finance make this feasible. Users may use $PT-eETH to borrow $ETH. Once borrowed, $ETH is placed in the ETH Call ("ETH-C") Basic Vault, where users may profit from option bonuses and features, but there is a catch: they must accept short volatility risk.    The yield creation symphony that Thetanuts Finance creates is composed of EigenLayer Points, EtherFi Loyalty Points, Pendle $PT-eETH Fixed Yield, Thetanuts Finance $ETH-C Basic Vault Option Premiums, and the soon-to-be-released $NUTS Rewards. This creative approach to yielding profits demonstrates Thetanuts Finance's commitment to provide its consumers value and advantages. The Ripple Effect: Shaping the DeFi Ecosystem Not only is Thetanuts Finance's Leveraged LRT Strategy Vault a brand-new product, but it is also a disruptive force that is anticipated to generate a substantial amount of demand within the DeFi community. Due to the fact that there are already 150,000 $PT-eETH in circulation, the market may undergo substantial changes, which highlights the significance of the novel initiative that Thetanuts Finance is working on. In light of the fact that Thetanuts Finance is getting ready to launch extra procedures for making use of Liquid Restaking Tokens (LRTs), additional choices are becoming accessible. Only the beginning has begun with this strategic vault. It is a stepping stone to a future in which LRTs will play a significant role in the investment plans of decentralised finance and intelligent investors will be able to get a greater variety of returns. The Essence of Innovation When it comes to the decentralised financial business, Thetanuts financial is a perfect example of what it means to innovate on a basic basis. It is clear that the company is continually looking for new ways to make money, not just for its clients but for the whole DeFi community as a whole, as seen by the fact that it has joined the market for Leveraged LRT Strategy Vaults. The company known as Thetanuts Finance is among the most successful businesses operating in an industry that thrives on change. They are in the vanguard of paving the way for a future in which decentralised finance expands beyond the traditional boundaries of the sector and embraces fresh investment and wealth generation tactics. This future is being paved by them. At the same time as we are entering a new era of decentralised finance (DeFi), we are able to feel the excitement that is rising up on our shoulders. The debut of Thetanuts Finance's Leveraged LRT Strategy Vaults is not only a significant achievement, but it is also a symbol of hope and a testament to the boundless possibilities that decentralised finance (DeFi) has to offer. This launch is a significant milestone. It is possible that pioneers like Thetanuts Finance, who are not afraid to go into unexplored territory, are responsible for the hopeful view that can be found about the future. Don’t forget to like and share the story! This author is an independent contributor publishing via our brand-as-author program. Be it through direct compensation, media partnerships, or networking, the author has a vested interest in the company/ies mentioned in this story. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR Vested Interest Disclosure:

Revolutionizing DeFi: Thetanuts Finance and the Dawn of Leveraged LRT Strategy Vaults

Revolutionierung von DeFi: Thetanuts Finance und der Beginn der Leveraged LRT Strategy Vaults

Revolucionando DeFi: Thetanuts Finance y el amanecer de las bóvedas de estrategias LRT apalancadas

Révolutionner DeFi : Thetanuts Finance et l'aube des coffres-forts stratégiques LRT à effet de levier

DeFi में क्रांति लाना: Thetanuts फाइनेंस और द डॉन ऑफ लीवरेज्ड LRT स्ट्रैटेजी वॉल्ट्स

DeFi の革命: Thetanuts Finance とレバレッジ LRT 戦略ボールトの夜明け

DeFi 혁명: Thetanuts Finance와 레버리지 LRT 전략 금고의 탄생

Revolucionando o DeFi: Thetanuts Finance e o surgimento dos cofres de estratégia LRT alavancados

Революция в DeFi: Thetanuts Finance и появление стратегических хранилищ LRT с кредитным плечом

DeFi'de Devrim Yaratıyor: Thetanuts Finans ve Kaldıraçlı LRT Strateji Kasalarının Şafağı

Cách mạng hóa DeFi: Thetanuts Finance và Bình minh của Kho chiến lược LRT có đòn bẩy

彻底改变 DeFi：Thetanuts Finance 和杠杆式 LRT 策略金库的黎明

Friendzone Launch Marks Dawn of a New Era for Decentralized Social Media The decentralized social media landscape received a major boost as Friendzone, a pioneering SocialFi protocol, officially launched its Social Capital Marketplace on the Polygon Proof-of-Stake network. The launch represents a paradigm shift that could redefine how users interact and engage on social media by directly linking influence to financial rewards. Friendzone has generated significant buzz in the Web3 community for its novel approach to marrying the engagement of traditional social platforms with tangible monetary incentives unlocked by blockchain technology. However, building a sustainable decentralized social network comes with immense technical and economic challenges. With its innovative protocol design and strong funding support, Friendzone may have what it takes to overcome these hurdles and usher in mainstream adoption of a new decentralized social media model. The Problems with Existing SocialFi Platforms While the idea of monetizing social interactions through crypto is enticing, previous SocialFi projects have faced major roadblocks to widespread adoption. Chief among these are scalability issues that plague user experience as networks grow large. As activity increases, transaction costs and wait times on blockchains like Ethereum can degrade the seamless social experience users expect. Liquidity challenges also plague early SocialFi protocols, as initial markets are too small to efficiently match buyers and sellers of social tokens. This lack of liquidity discourages new users and limits network effects. Without solutions to these problems, decentralized social media remains a niche concept rather than a true alternative accessible to mainstream audiences. Friendzone's Differentiated Approach Friendzone aims to overcome these hurdles through innovative protocol design focused on scalability, liquidity and fair value distribution. At the core of its model is an adaptive bonding curve that sets token prices dynamically based on real-time market feedback. This promotes sustained growth without constraints from accessibility or liquidity bottlenecks. The protocol also incorporates a staking mechanism tied to both quantity and duration of stake. Inspired by Curve, this "veCRV model" aims to distribute rewards more equitably based on meaningful contribution to creators' success. Combined with custom creator controls over content monetization, Friendzone empowers all users while incentivizing engagement across the network. By addressing scalability and liquidity head-on through its economic framework, Friendzone hopes to achieve what no other SocialFi project has: a social platform that can scale to mainstream popularity while seamlessly integrating financial incentives for participation. If successful, it could emerge as the leading model driving true adoption of decentralized social media. Strategic Partnership with Polygon To realize its lofty ambitions, Friendzone has strategically partnered with Polygon, one of the leading scaling solutions for Ethereum. The launch on Polygon's Proof-of-Stake network leverages its industry-leading scalability, speed and security - key attributes needed to support a decentralized social network of meaningful size. The collaboration with Polygon also grants Friendzone access to a vast, innovative ecosystem of projects and communities. This positions it well to explore new use cases, accelerate growth and achieve interoperability across decentralized applications. As Friendzone scales its network of creators and users, Polygon's layered scaling approach including zkEVM will be instrumental. Strong Industry Backing In conjunction with the protocol launch, Friendzone announced the closure of a significant funding round led by top angel investors in the Web3 space. This includes founders and leadership from high-profile projects like Synthetix, Illuvium, Pendle Finance, Immutable and more. The round of over $750,000 adds to a growing list of strategic backers that now advise Friendzone. This display of support from industry heavyweights validates Friendzone's novel vision and underscores investors' belief that it can succeed where others have faced challenges. With its differentiated design and well-connected team, Friendzone appears well-positioned to transform the nascent decentralized social media sector. Progressive Rollout and Beta Testing To ensure a smooth user experience as interest grows, Friendzone is employing a progressive rollout strategy. Starting with 1,000 of its over 5,000 waitlisted users, the protocol will onboard additional cohorts of 1,000 as it demonstrates stability. This beta testing period will be crucial for identifying bugs, fine-tuning the product based on user feedback, and establishing the foundation needed for responsible scaling. An initial points-based rewards system will also be tested to shape future community incentives. If all goes well, Friendzone's phased approach aims to avoid the growing pains of an uncontrolled mainnet launch that could compromise the seamless social experience it provides. With each progressive milestone, it will work to elevate the protocol and realize its full vision. Final Thoughts on Friendzone The launch of Friendzone on Polygon marks a watershed moment that could redefine the future of social media. By directly linking influence to financial value through its innovative economic framework, Friendzone promises to transform how users engage and content creators monetize online. Its differentiated approach to scalability, liquidity and fair value distribution is designed to overcome the challenges that have held back decentralized social networks to date. With strong industry support and a strategic partnership with Polygon, Friendzone is well-positioned to achieve what no other SocialFi project has: mainstream adoption of a new tokenized social paradigm. The beta testing period will be crucial for refining its product. But if successful, Friendzone may emerge as the leading platform empowering online communities with financial incentives that have until now only been possible through crypto. Its launch represents the dawn of a new era that could push the boundaries of what decentralized applications make possible. Don’t forget to like and share the story! This author is an independent contributor publishing via our brand-as-author program. Be it through direct compensation, media partnerships, or networking, the author has a vested interest in the company/ies mentioned in this story. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR Vested Interest Disclosure:

SocialFi Reimagined: How Friendzone's Launch is Shaping the Future

সোশ্যালফাই পুনরায় কল্পনা করা হয়েছে: কীভাবে ফ্রেন্ডজোনের লঞ্চ ভবিষ্যতকে রূপ দিচ্ছে৷

SocialFi neu gedacht: Wie der Start von Friendzone die Zukunft prägt

SocialFi reinventado: cómo el lanzamiento de Friendzone está dando forma al futuro

SocialFi réinventé : comment le lancement de Friendzone façonne l'avenir

सोशलफाई की पुनर्कल्पना: फ्रेंडज़ोन का लॉन्च भविष्य को कैसे आकार दे रहा है

SocialFi の再考: Friendzone の立ち上げがどのように未来を形作るか

재구상된 SocialFi: Friendzone의 출시가 미래를 어떻게 변화시키고 있는지

SocialFi Reimaginado: Como o lançamento do Friendzone está moldando o futuro

Переосмысление SocialFi: как запуск Friendzone формирует будущее

SocialFi Yeniden Tasarlandı: Friendzone'un Lansmanı Geleceği Nasıl Şekillendiriyor?

SocialFi được mô phỏng lại: Sự ra mắt của Friendzone đang định hình tương lai như thế nào

SocialFi 重新构想：Friendzone 的推出如何塑造未来

Liquid Re-staking Tokens (LRTs) and the emergence of Layer2 solution Blast are powering a new wave in DeFi staking. In this article, we’ll look at the backdrop behind this development, what it means for DeFi staking and what are the major trends in the space. Liquid Re-staking Tokens: The Newest Innovation in LSDs Liquid staking derivatives (LSD) have been an area in the Ethereum ecosystem that has demonstrated exemplary innovation and adaptability, especially after the Shanghai upgrade. Lido Finance, a platform that played a critical role in refining the Ethereum staking mechanism, was where it all started. With its innovative solution, Lido unlocked the liquidity of staked assets in Ethereum, solving a major issue in the Ethereum staking mechanism. Lido allows users to earn staking rewards on Ethereum without locking up assets, marking a major shift from the traditional rigid paradigm of staking. Pendle Finance was the next to chart new territories in the LSD space. It pioneered yield tokenization on Ethereum, enabling users to trade yield and earn a fixed yield on their assets. This new model opened up new approaches for yield optimization and risk management. The quest for higher yields and fuller utilization of staked assets, however, has no end. Restaking protocol Eigenlayer emerged with a more complex model. Eigenlayer allows stakers to reallocate their staked assets to secure additional decentralized services on the Ethereum network. This not only increases stakers’ overall rewards but also enhances cryptoeconomic security and resilience of the entire Ethereum network. However, a major challenge emerged. Restaked assets became fragmented and illiquid, hampering the activity and composability in the DeFi space. This was where Liquid Restaking Tokens (LRT) came into play. This innovation unlocks the liquidity of restaked assets and further increases stakers’ rewards by enabling them to participate in DeFi. Users can deposit LRTs to liquid restaking protocols for additional earnings. With these developments, the LSD space has evolved from a starting point of single-layer staking into a more complex and multifaceted ecosystem. Some more recent happenings such as the emergence of Blast reflect this trend. Blast is an EVM-compatible Ethereum Layer 2 network that offers native yield staking of ETH and stablecoins on its chain. This has further democratized staking rewards and elevated the overall user experience by streamlining the process. The evolvement of the LSD space demonstrated the dynamic environment and adaptability of the Ethereum ecosystem where innovations are constantly being created to meet users’ needs for higher liquidity and yield while navigating the intricacy and risks of DeFi. DeFi’s Next Big Thing: LRTs In the realm of DeFi, the emergence of Liquidity Re-Staking Tokens represents a profound revolution in the traditional staking paradigm. LRTs represent a breakthrough not only by thinking out of the box of single-asset staking but also by introducing and facilitating the development of multi-protocol staking. Through EigenLayer, users can transcend the boundaries of a single protocol and diversify their rewards by staking ETH assets across multiple Actively Validated Services (AVS) on Eigenlayer, i.e. applications and networks that are secured via restaking. This significantly enhances network security and, in doing so, injects a more intricate layer of security into the whole DeFi ecosystem. The advantages embodied by LRTs are manifold: a significant improvement in capital efficiency, enhanced network security, and substantial savings for developers in resource allocation. However, we must remain vigilant about the accompanying risks, including potential penalty risks, protocol centralization concerns, and revenue dilution caused by fierce market competition. Regarding the market prospects of LRTs, we believe LRT protocols will have a tremendous allure for users with their high earnings potential. LRT protocols offer additional revenue streams for ETH stakers, encompassing not only the basic staking rewards but also rewards from EigenLayer and the potential benefits of token issuance. Moreover, through incentive measures such as airdrops, LRTs have the potential to attract a wider range of participants, thereby driving overall DeFi growth and creating a trend that could replicate or even surpass the heat of the DeFi summer of 2020. The trend is worth paying attention to. With LRT providing fresh impetus, the DeFi space is expected to see increased competition similar to the previous “Curve War”, and token economics may evolve toward more complex models. In the meantime, as more AVSs are launched, the additional rewards that they offer to LRT holders could become a key driver for user acquisition in the LRT space. veTokenomics In conclusion, LRTs have demonstrated their unique value in unlocking liquidity, enhancing yields, and optimizing governance and risk management. As such, LRTs are not only a staking tool but also a crucial catalyst for DeFi innovation and growth. Their development and application could bring profound changes to the DeFi ecosystem, opening new possibilities for users, developers, and the entire blockchain world. Associated Risks and Challenges Stader Labs has recently emerged as a dark horse with its launch of Ethereum mainnet’s first liquid restaking token rsETH garnering widespread attention. With rsETH, users will be able to “restake” liquid staked tokens such as Coinbase’s wrapped staked ETH (cbETH), Lido’s staked ETH (stETH), and Rocket Pool’s rETH on multiple different networks, minting a liquid token to represent their share in a restaking contract. This allows greater liquidity and flexibility of staked assets. With the support of EigenLayer, rsETH has successfully achieved large-scale restaking of ETH by streamlining the process for users entering the restaking ecosystem, further reinforcing the decentralization of the Ethereum network. However, such innovations also bring risks. Ethereum’s founder, Vitalik Buterin, and the co-founders of EigenLayer have both pointed out that restaking may lead to complex scenarios, posing a threat to the security of the main network. Additionally, with the proliferation of AVSs and LRTs, excessive dispersion of industry funds and attention could result in market instability and weakened governance structures. As an emerging force, Layer 2 network Blast added more vitality to the space with its unique automatic compounding feature. Its innovation lies in the design that it not only provides users with basic staking yields by working with liquid staking protocols such as Lido, but also enables users to receive additional yields from its auto-rebasing stablecoin USDB by working with protocols like MakerDAO. Although such a model is user-friendly and offers users more returns, owing to its impact on the TVL composition, it also brings in centralization concerns and increases its sensitivity to market risk. How Blast’s strategy influences the actual utilization of assets and the dynamics of capital flows within its ecosystem will be the key. Blast should aim for its TVL composition to shift more from capital preservation to asset growth so that it can maintain good network activity and sufficient liquidity in dApps. Only in this way can it truly achieve its goal of driving the growth of its blockchain network, rather than merely serving as a deposit platform. Overall, while both Stader Labs and Blast signify innovation and progress in the staking models of the DeFi sector, they are not without risks that we should remain vigilant about, to ensure the safety and well-being of the Ethereum network in the long run. A robust and sustainable balance needs to be reached between these innovations and risk management in the future. Other New Paradigms for Ethereum Staking We believe dynamic staking strategies like LRTs are having a profound impact on the Ethereum staking market. Firstly, the automation and efficiency of these strategies have lowered the investment threshold, attracting more individual investors. Secondly, as more funds flow in, market liquidity significantly improves, contributing to the stability of the entire DeFi ecosystem. Moreover, dynamic staking strategies, by offering diversified and customized investment options, are driving market innovation and development. However, implementing these strategies faces technical challenges, particularly in constructing efficient and accurate algorithmic models and ensuring system security and resilience against network attacks. Meanwhile, there are other new paradigms of staking under exploration. Let’s take a look. A new model known as the Layered Staking System emerged in response to a maturing market with diverse investor demands. This system distributes staked assets across different risk layers, each with varying profit potential and risk configurations. Low-risk layers offer relatively stable returns, suitable for risk-averse investors, while high-risk layers cater to those with a higher risk tolerance. The flexibility of this system allows investors to allocate assets based on their risk preferences and market forecasts. Implementing a Layered Staking System requires complex smart contracts and sophisticated risk management strategies to ensure liquidity and security between different layers. Its introduction provides investors with more choices and flexibility, propelling the Ethereum staking market towards maturity and diversification. Contract-based automated staking strategies are an interesting development too. They enhance asset management efficiency and effectiveness by automatically executing staking, unstaking, and asset reallocation. The risk management capability of automated staking strategies is enhanced through specific risk parameters set within smart contracts. Once market conditions trigger these parameters, smart contracts automatically adjust staking positions. Despite challenges such as ensuring the security and reliability of smart contracts, as the security of smart contracts strengthens with the advancement of technology, automated staking strategies are expected to see broader applications. Additionally, collective staking and profit-sharing models enable multiple investors to collectively stake their assets and share the generated profits proportionally. This model utilizes smart contracts to automatically distribute earnings, offering collaborative wealth growth opportunities for small-scale investors. Smart contracts play a pivotal role in collective staking by executing profit distribution and ensuring fair returns for each participant. Collective staking provides small-scale investors with opportunities to reduce risk and costs, enhancing inclusivity within the DeFi ecosystem. Lastly, linking staked assets with Real World Assets (RWAs) is another innovative approach in the DeFi space. Under this model, real-world assets such as real estate and artwork are tokenized on the blockchain and serve as the underlying assets for staked assets. This approach provides liquidity for typically illiquid assets and offers new sources of funding for owners of real-world assets. Although this model faces challenges such as accurate assessment and tokenization of real-world assets, as well as dealing with regulatory and compliance issues related to these assets, the future holds the promise of broader applications for linking staked assets with RWAs. This can provide traditional asset holders with new funding channels and offer cryptocurrency investors new investment opportunities, deepening the integration of cryptocurrency markets with traditional finance markets. In conclusion, the future of DeFi staking promises further advancements. It’s an area worth paying attention to for both investors and DeFi players.

The New Trend in DeFi Staking: Liquid Re-Staking Tokens and Blast

ডিফাই স্টেকিংয়ের নতুন প্রবণতা: লিকুইড রি-স্টেকিং টোকেন এবং ব্লাস্ট

Der neue Trend beim DeFi-Staking: Liquid Re-Staking Tokens und Blast

La nueva tendencia en las apuestas DeFi: tokens de reapuesta líquida y explosión

La nouvelle tendance du jalonnement DeFi : jetons de re-jalonnement liquide et explosion

डेफी स्टेकिंग में नया चलन: लिक्विड री-स्टेकिंग टोकन और ब्लास्ट

DeFi ステーキングの新しいトレンド: リキッド再ステーキング トークンとブラスト

DeFi 스테이킹의 새로운 트렌드: 유동적 재스테이킹 토큰 및 폭발

A nova tendência em staking DeFi: Tokens de re-staking líquidos e Blast

Новый тренд в стейкинге DeFi: ликвидные токены повторного стейкинга и Blast

DeFi Staking'de Yeni Trend: Liquid Re-Stake Tokenları ve Blast

Xu hướng mới trong đặt cược DeFi: Token đặt lại chất lỏng và vụ nổ

DeFi 质押新趋势：流动性代币再质押和爆炸

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PENDLE

pendle.finance

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