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2 Nov, 4 tweets, 3 min read
1/ As the @solana ecosystem continues to expand, NFT sales have exploded.

In just its 2nd month of NFT trading, Solana experienced a substantial increase in both the # of projects and trading volume.

By the end of September, total NFT secondary sales volume reached $500M. Solana September witness over $160 million in secondary NFT
2/ As one of the first popular NFTs on Solana, @DegenApeAcademy has benefited both from being a first mover and from the popularity of ape NFTs.

However, the lion’s share of sales were from its first month, so we'll see if the project can maintain its status over time. Degen Ape Academy remain the leading NFT secondary sales vol
3/ Like @ethereum, a few projects possess a majority of the secondary trading volume on @solana.

However, Ethereum NFT projects have several varieties.

If Solana wishes to truly vie for NFT dominance, it will have to support other types of projects beyond collectible pfp NFTs. Solana maintains competitive NFT stats compared to Ethereum
4/ Learn more about @solana NFTs in the latest article from @masonnystrom messari.io/article/layer-…

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More from @MessariCrypto

Messari Profile picture
1 Nov
1/ @iearnfinance is made up of multiple products:

+ Vaults
+ Earn
+ Iron Bank
+ Special

Each product provides unique value to the yield aggregator, however the new V2 Vaults have provided the most value in recent months - $3.6B (68%) of the total $5.4B TVL accumulated. Yearn 2021 TVL growth by product
2/ Looking at the first phase of V2 growth from March to June, both deposits of stablecoins and volatile assets increased significantly.

However, the second period of growth is noticeably different. Stablecoin counts in vaults actually declined from mid-September to mid-October. Yearn Top V2 Vault 2021 Growth
3/ $1.5B (57%) of TVL in the top seven V2 Vaults come from 18 partner protocol integrations.

@AlchemixFi is the largest depositor contributing nearly $600M across yvDAI & yvWETH vaults.

@SushiSwap's BentoBox is the second-largest protocol contributor with over $583M deposited. Top Yearn V2 Vault TVL contributed by protocols
Read 4 tweets
Messari Profile picture
28 Oct
1/ Today’s DeFi ecosystem faces an infrastructure risk with the base problem of liquidity - an issue that takes time away from protocol development.

@TokenReactor's model looks to solve this by establishing critical liquidity infrastructure in the form of Liquidity-as-a-Service. The Emerging Protocol Liquidity Spectrum
2/ @TokenReactor is designed as a disaggregated market maker.

In Tokemak’s model, the protocol acts as the technology component with capital and market expertise being sourced from third-parties referred to as Liquidity Providers (LPs), Liquidity Directors (LDs), and Pricers. Tokemak Reactor Structure
3/ @TokenReactor's roadmap began in the summer of 2021 with the initiation of Cycle Zero.

Considered the pre-launch cycle, Cycle Zero consisted of three stages:

+ The DeGenesis Event
+ Genesis Pools
+ The C.o.R.E.

C.o.R.E. 2 is slated to begin in early November, Tokemak Roadmap
Read 4 tweets
Messari Profile picture
27 Oct
1/ "There were 3 main drivers for the major uptick we saw in Compound following the market crash:

+ more favorable market conditions
+ rising collateral value
+ lowered borrowing costs"
- @RyanWatkins_

We're live now with @rleshner and @twobitidiot!
crowdcast.io/e/q3compoundme…
@RyanWatkins_ @rleshner @twobitidiot 2/ "When I look at governance changes that the community implemented, so much happened this quarter - reducing the gas costs of claiming $COMP, adding new supported assets, proposal 62, and much more."

- @rleshner
crowdcast.io/e/q3compoundme…
@RyanWatkins_ @rleshner @twobitidiot For reference of @compoundfinance's governance proposals over the past few months:
Read 11 tweets
Messari Profile picture
26 Oct
1/ @Barn_Bridge is a cross-chain risk management protocol founded in 2019.

It provides composable solutions for investors to hedge against interest rate fluctuations and price volatility.

Their latest product, launched September 2021, is called SMART Alpha. Image
2/ SMART Alpha allows investors to calibrate exposure by choosing a Jr/Sr position in an aggregated pool.

The senior side is better protected when the underlying asset dips but in turn loses out on gains; the opposite applies for jr. users who take leverage on price volatility. SMART Alpha diagram
3/ Every asset pool runs on an epoch-based timeline. The default period advances weekly on Mondays at 14:00 UTC.

Protocol revenue is earned through a fee taken at the end of each epoch, which currently stands at .5% of a given week’s profits and applies to the winning side only. SMART Alpha Fees Distribute...
Read 4 tweets
Messari Profile picture
22 Oct
1/ The NFT marketplace landscape is heating up with @Coinbase_NFT & @FTX_Official announcing NFT platforms and trading.

Centralized exchanges have a few key advantages given their size & resources, however permissionless marketplaces will still have their own advantages as well.
2/ Asset custody is one key benefit of centralized exchanges.

@Coinbase_NFT ensures that retail traders don’t misplace their assets or get locked out of their accounts from forgotten passwords.

Essentially, centralized exchanges help prevent errors when transferring crypto.
3/ The key disadvantage for U.S. exchanges is regulation.

Many NFTs resemble securities or tip-toe on the line between consumer product and financial product.

However, many countries outside the U.S. don't have these restrictions, so the platforms may thrive in other countries.
Read 4 tweets
Messari Profile picture
19 Oct
1/ DeFi has once again resurfaced among crypto's leading narratives, this time dubbed "DeFi 2.0".

The nickname has sparked infighting over the categorization of DeFi protocols and has pulled the attention away from what's actually happening.

So what actually IS happening? Is this DeFi 2.0?
2/ Liquidity mining, the heart and soul of DeFi Summer 2020, has fallen off as protocols struggle through the effects of mercenary capital providers draining value.

Projects realize they need better systems to ensure sustainable liquidity while aligning w/ long-term incentives.
3/ Additionally, "second order" protocols are coming to life.

Leveraging DeFi’s composable nature, these projects build on top of existing DeFi infrastructure to automate, enhance, or extend existing DeFi economic models and processes.

This comes at the cost of compounded risk. Abracadabra.money is one example of an "enhancer"
Read 4 tweets

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