Some of you asked how I evaluate non-ETH chains.

1. Great browser wallet
2. Top notch block explorer
3. Native stablecoins
4. Robust infrastructure provider and API
5. Strong developers and incentives
6. Data analytics suite
7. User funnel and cheap onboarding
By looking at these parameters, nothing comes close to Ethereum and likely won't for quite some time.

EVM-compatible chains obviously have an advantage since porting infra and developers is easier.
If you do want to diversify exposure beyond ETH though, I'd suggest focusing on these parameters. The better they are fulfilled, generally the better the chance of success will be. Take a very non-tribal approach and focus on where the wind is blowing, not where it's at now
Another important parameter is obviously censorship resistance and the project’s plan (and its feasibility) to get there. Projects like BSC that don’t have a feasible plan to “decentralize” sustainably are an automatic pass for me if I’m thinking long term. Short term it’s fine

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More from @lawmaster

4 Apr
Interesting situation going on with ForceDAO. Liquidity has been withdrawn, price is down 90%+ and there are indications that it could have been a white hat "hack"
Looks like funds were all returned. What a rollercoaster etherscan.io/tx/0xfda56d853…
I would highly advise not to trying to trade this though. There is a lot of unknowns still. It looks like there were two exploiters and the one who returned FORCE didn’t drain the UNI pool. Not sure if they are associated

etherscan.io/address/0x0608…
Read 4 tweets
12 Mar
CZ is right now doing an AMA on Clubhouse and there were like 10 random people already asking questions and not a single one about the CFTC.
Someone just asked. CZ: “The reporting already said there is no misconduct by Binance. As a business, we must maintain no comment policy on regulatory issues. In general, we maintain very collaborative relationships with regulators around the world and have an active dialog”
“Some journalists want to get some clicks and sell some ads. Max Baucus also just joined us so we are actively trying to work on these regulatory relationships”
Read 6 tweets
10 Mar
1/ Stablecoin have seen incredible growth in the last year - $54B issued and $380B monthly on-chain volume.

We are finally releasing the 130+ page monster today. It’s the most comprehensive report on stablecoins released, you can read it fro free here:

theblockcrypto.com/post/97769/sta…
2/ Some summary growth stats since jan 2020:

• Supply = $5.9B → $54.2B
• Monthly Tx volume = $23.5B → $384B
• Addresses holdings >$100 = 284k → 1.85M
• Daily active addresses = 53k → 307k
• Daily transactions = 98k → 594k

Not many products with bigger growth.
3/ Main reasons for the growth:

• Miners repaying Tether debt against Bitcoin

• Popularity of Tether-collateralized derivatives exploded

• DeFi and the yield farming craze

• Bitcoin losing its lead as a base currency in spot

• Increased demand for Bitcoin from insti
Read 14 tweets
8 Mar
1/ It's hard not being optimistic when looking at what's been happening in crypto in the last few months. Narratives are important but data always tells the story much better. I spent a long time to put together this thread to illustrate the growth so please spread it!
2/ First let’s look at market structure.

Spot volume reached another all-time high of more than $1T last month. More than 3 times higher than 2017 top. When it comes to exchanges supporting fiat, Coinbase comfortably leads, followed by Kraken, Upbit, LMAX Digital and Bitfinex.
3/ Web traffic of crypto exchanges reached 432M in February, which is still 20% lower than in January 2018. This only goes to show that a lot of this rally is being driven by institutional capital and there isn’t that much retail yet. 56% of traffic is from Binance and Coinbase
Read 22 tweets
25 Feb
Coinbase S1 notes:

• $3.4 billion in total revenue until 2020
• largely from transaction fees (96% of net revenue)
• net income of $322.3 million in 2020, net loss of $30.4 million in 2019
• 43M verified users
• 2.8 monthly transacting users
Financial statement for 2019 and 2020

• Revenue of $1.28 billion in 2020
• Revenue of $534M in 2019 (more than 2x growth)
• As of end of 2020, Coinbase had cash and cash equivalents of $1.1 billion
• $48.9 million of USDC
• Held the following crypto: $130.1M of Bitcoin, $23.8M of Ethereum and $34.0M of other
Read 20 tweets
24 Feb
1/ Today we finally launched the DeFi protocol data in The Block’s dashboard. This is the most powerful feature in the dashboard for sure. Massive props to @FrankResearcher for getting this out after months of work.

theblockcrypto.com/data/decentral…
2/ So what can these dashboards do? First of all, we now have daily data on how much these DeFi protocols are generating split by each protocol. And it’s no surprise we are reaching all-time highs - much higher than during DeFi summer.
3/ The total for February so far is already much higher than for January. Of course Uniswap is leading the way here with $75M in February so far. Followed by SushiSwap ($36M) and Compound ($27M).
Read 9 tweets

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