$USDD appears sufficiently backed by non-native collateral in the form of $BTC, $USDT, and $USDC.
While not included in collateral backing due to its reflexive nature, the @trondao Reserve (TDR) could sell $725M of TRX to back $USDD.
4/ ~Adoption
Average wallets leveled out at 120K wallets, with an average value held around 6,000 $USDD.
The cumulative volume of #USDD traded was over 6.2B.
The floor of average daily transactions was around 400.
5/ ~Peg and Location
To maintain its peg, USDD primarily uses Peg Stability Module (PSM). The TDR can also mint or burn $USDD to help maintain peg.
Since launch, the PSMs have done over 1B dollars in volume, partnering with @MultichainOrg to get liquidity on other chains.
6/ ~Qualitative Analysis
From launch through Q3, @trondao adjusted native interest rates, the PSM was put in place to allow $USDD to maintain peg, and the TDR has been working to drive adoption through rewards and $USDD trading pair offerings on CEXs.
7/ So far, @trondao's $USDD remains comfortably over-collateralized by a basket of #Bitcoin and other stablecoins.
1/ The crypto space's evolution has necessitated stronger server infrastructure to meet the increasing performance requirements of blockchains and their applications.
@Old_Samster dives into why advanced physical infrastructure is crucial.👇🧵
@Old_Samster @Filecoin @sphere_labs @akashnet_ 2/ Newer chains like @avax and @Solana demand significantly higher processing power compared to @Ethereum.
This has driven validators towards being hosted in data centers, given their increased demand for processing power, low latency, and high uptime.
3/ Decentralized storage networks (DSNs) and compute networks face similar challenges.
Ordinary people contributing idle storage space isn't enough for commercializing DSNs. Data centers become indispensable for low latency and exceptional uptime.
1/ Scalability is a key factor in the crypto space, with the modular approach gaining popularity. However, @Solana has taken a contrarian stance.
@kelxyz_ explains how @jump_firedancer, a validator client developed by @jump_ aims to enhance Solana's monolithic approach.🧵
2/ @jump_firedancer's first milestone, "fd_quic," demonstrated impressive transaction propagation throughput of 1M transactions per second (TPS) in initial performance tests.
But there's more work to be done to achieve the full potential of Firedancer.
3/ If successful, @jump_firedancer could unlock blue ocean markets for the @Solana ecosystem by offering unprecedented throughput, composability, and low costs.
However, challenges in execution, timing, and competition pose risks to its adoption and success.
+Dynamic Energy Model resulted in revenue up 65.5%
+Circulating Mcap of $TRX increased by 18.1%
+Prominent protocols #justlend & #juststables saw TVL increase at 26% and 21% respectively
1/ In a bear market, it's crucial to focus on long-term market developments and product announcements to understand what may support or drive new waves of app development.
2/ Aligned, a high-performance compute provider, predicts the zero-knowledge proofs (ZKPs) market to reach $10B by 2030.
ZKPs verify computations and ensure privacy in transactions. #Ethereum is expected to capture 66% of the market.
3/ @LensProtocol, a decentralized social graph protocol, introduced Momoka to decrease transaction costs and improve stability.
Lens has seen a 75% decrease in transaction costs, making consumer applications more viable. Momoka is a game-changer for building foundational layers.
2/ The crypto market rebounded in Q1'23, with the market cap of featured Layer-1 (L1) smart-contract platforms increasing by an average of 83% QoQ, but still down 58% YoY.
@ethereum had the highest market cap, over 2x the other networks combined.
2/ @ethereum generated the highest revenue in Q1, driven by its high usage and gas fees. Its revenue was $457M, almost 2.8x the combined revenue of all other featured L1s.
@hedera had the most significant revenue growth, with a 489% increase QoQ, driven by its Consensus Service.