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Jul 23, 2021 23 tweets 7 min read Read on X
1/ A thread on why we're building Token Terminal 🧵👇
2/ What is Token Terminal?

A data analytics platform for crypto assets.
3/ Why should you care?
4/ A useful analogy for thinking about crypto:

Blockchains are global computers that host Internet-scale applications.
5/ Key takeaway:

Crypto makes it possible to build organisations that operate at global scale from day one.
6/ Note: blockchains & applications built on top of them are NOT traditional companies.
7/ Traditional companies are a set of pen & paper contracts.

These contracts are enforced by local jurisdictions --> limited scale.
8/ Blockchain-based applications consist of a set of open-source (smart) contracts.

These contracts are enforced by a blockchain (global computer) --> Internet scale.
9/ For example, Compound can be thought of as a bank built on the Ethereum blockchain.

Compound's open-source contracts contain the business logic for lending & borrowing.
10/ Key takeaway:

By modifying the business logic of an application's open-source contracts, we can build all kinds of businesses in a highly scalable manner directly on the Internet.
11/ This opportunity has not gone unnoticed by entrepreneurs.

A parallel financial system (and beyond) is being built on top of Ethereum and other blockchains.
12/ Why now?
13/ Key takeaway:

While still a fringe technology, blockchains and the applications built on top of them are starting to operate at significant scale.
14/ Blockchains like Bitcoin & Ethereum are Internet-native economies:

Currently, they’re both settling transactions for over $10 billion each day.
15/ Uniswap is an exchange built on Ethereum:

Launched only a few years ago, the daily trading volumes on Uniswap already exceed $1 billion.
16/ Compound is a lending market built on Ethereum:

Launched only a few years ago, there’s currently over $6 billion worth of loans outstanding on Compound.
17/ MakerDAO is a central bank built on Ethereum:

Launched only a few years ago, there’s currently over $2 billion worth of DAI (stablecoin) in circulation.
18/ Increasingly, the only way to participate in the upside of these organisations is to own tokens:

Tokens represent ownership in these Internet-native organisations or DAOs.
19/ What's next?
20/ The above apps are primarily built on Ethereum.

In the next phase, we’ll see apps expand to multiple different blockchains, each with its own unique set of features.

These novel features, like scalability, file storage & privacy, will enable new kinds of apps to be built.
21/ The problem is how to separate signal from noise?

In crypto, anyone anywhere can build a blockchain-based application.

The only thing you need is an Internet connection.
22/ Focus on blockchains & applications that are widely used:

In crypto, users can track the performance of DAOs from day one.
fin/ Thus, The Token Terminal community is
well-positioned to capture the upside of this opportunity.

Join

- the community: tokenterminal.com/signup
- our team: docs.tokenterminal.com/careers

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More from @tokenterminal

Apr 14
BlackRock is the world's largest asset manager, with $10 trillion in assets under management.

We researched the firm's crypto strategy, so you don’t have to.

Here's what we found:

1. DIGITAL ASSETS (ASSET CLASS)

The firm divides the crypto asset class into three different buckets:

1⃣ Cryptoassets (e.g. BTC)
2⃣ Stablecoins (e.g. USDC)
3⃣ Tokenized assets (e.g. BUIDL)

Strategy:

▪️ Owner of @iShares, Bitcoin Trust ($18B AUM)
▪️ Owner in @circle, the issuer of USDC ($32B supply)
▪️ Owner in @Securitize, the transfer agent for the BUIDL onchain money market fund ($300M AUM)

2. BITCOIN (ASSET)

The firm sees three unique advantages to BTC the asset:

1⃣ Internet-native (globally accessible)
2⃣ Cross-border (transactional efficiency)
3⃣ Capped supply (inflation hedge)

Strategy:

▪️ BlackRock serves customers across the globe and now, with BTC and IBIT, has a unique product to sell to its clients.
▪️ It’s likely that BlackRock will productize all major cryptoassets (ETH, SOL, etc.) in a similar manner.

3. BLOCKCHAIN (TECHNOLOGY)

The firm believes that blockchain technology can improve capital markets in several ways:

1⃣ 24/7 operational capital markets
2⃣ Improved transparency and investor access
3⃣ Lower fees and faster settlement

Strategy:

▪️ We believe that @BlackRock will eventually launch its own blockchain, and follow a similar playbook that Coinbase has used with @base.
▪️ This would allow BlackRock to concentrate the recordkeeping of its holdings across asset classes ($10T AUM) to a single, global, interoperable, and transparent ledger.Image
Great interview on the topic w/ @robbiemitchnick

More @BlackRock BUIDL data coming to the Terminal 🔜

tokenterminal.com/terminal/proje…
Image
Read 4 tweets
Mar 15, 2023
🗞️ The latest edition of the 'Weekly fundamentals' is out!

This week’s newsletter focuses on daily active users, a metric that has a designated dashboard on Token Terminal.

Let’s dig in! 👇

tokenterminal.com/weekly-fundame…
Check out the daily active users dashboard here 📊⤵️

tokenterminal.com/terminal/metri…
- 15 of the top 20 projects are either L1 or L2 blockchains. Osmosis being the only L1 ‘appchain’ that made the cut

- User activity for the top projects has been relatively consistent throughout the year

- BNB Chain has started to close the gap to Tron over the past few months
Read 11 tweets
Mar 10, 2023
There are currently six different ways to interact with on-chain data on Token Terminal:

1⃣ Metrics
2⃣ Market sectors (🆕)
3⃣ Projects
4⃣ Trending contracts
5⃣ Financial statements (🆕)
6⃣ API (🆕)

⤵️⤵️⤵️
2⃣ Market sectors (🆕)

tokenterminal.com/terminal/marke…
Read 7 tweets
Mar 8, 2023
1/ Introducing 'market sector' dashboards 🚨📊

Gm to all the crypto fundamentals enjoyoors!

In our latest product update, we’ve sought to bring even more structure to the Token Terminal web application.

🧵⤵️ Image
2/ There are currently six different ways to interact with on-chain data on Token Terminal:

1⃣ Metrics
2⃣ Market sectors
3⃣ Projects
4⃣ Trending contracts
5⃣ Financial statements
6⃣ API Image
3/ This thread provides an overview of the different market sectors currently available on Token Terminal, let’s dive in!
Read 18 tweets
Feb 11, 2023
What is an Ethereum 'L2'?

One simple inclusion criteria:

Are the economics shared with the L1?

Chain & what token transaction fees are paid in:
1⃣ Optimism --> ETH ✅
2⃣ Arbitrum --> ETH ✅
3⃣ Starknet --> ETH ✅
4⃣ Polygon --> MATIC ❌ ImageImageImageImage
Read 5 tweets
Feb 9, 2023
🎙️ A new 15-minute fundamentals is out!

In this series, we interview core protocol contributors & together dive into the details behind the charts available on Token Terminal.

For our latest episode, we had the pleasure of hosting Seb from @GainsNetwork_io.

Tune in below! ⤵️ Image
🎙️ Link to the episode:

🎙️ Link to the podcast:

podcasts.apple.com/fi/podcast/gai…
Read 4 tweets

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