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An Ape's Prologue Profile picture
@apes_prologue
Jun 15 • 3 tweets • 1 min read Twitter logo Read on Twitter
Weekly Alpha Image
2/ Governance Proposals and Next Week's Alpha Image
3/ News and Tweets of the Week Image

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More from @apes_prologue

An Ape's Prologue Profile picture
Jun 14
$131M worth of $CRV is at risk of liquidation if the price drops by 35%.

The Curve Founder has borrowed $110M in stablecoins against all his $CRV - 50% of the circulating supply.

This could have severe implications for DeFi, with lending protocols at risk of accruing bad debt Image
2/ Given these risks, new deposits and loans have been paused on Aave V2.

This action, along with an active governance proposal to freeze $CRV assets on Aave V2, aim to limit further risk exposure and mitigate potential damages due to market liquidity concerns. Image
3/ The current buy-side liquidity across ETH and stablecoins is only $51M, just 42% of the liquidatable amount on Aave and FraxLend combined. Image
Read 6 tweets
An Ape's Prologue Profile picture
Jun 12
Bridges in the Multi-chain of Madness

The siloed liquidity of blockchains has become a nuisance for users trying to explore the multi-chain universe.

A number of bridges have emerged to serve this critical need.

How does the bridging landscape look like today?

Let’s find out: Image
2/ Foreword

For this comparative analysis, only multi-chain bridges are included, in a period from January to May 2023. Also, native bridges exclusively between L2s and Ethereum are not analyzed.
3/ Ethereum makes up 58% of DeFi TVL

The total TVL in DeFi is $47.6B, with Ethereum making up for $27.8B of it.

As the blockchain with the highest liquidity, other networks will seek to draw a portion of the liquidity to themselves. Image
Read 12 tweets
An Ape's Prologue Profile picture
May 26
An Overview of the Perpetual DEX Industry

The collapse of FTX is still fresh in the mind of users, with many still fearful of keeping funds on centralized platforms.

This presents a unique growth opportunity for decentralized perps trading platform.

A thread: Image
2/ Trading volume has increased by 38% the past two months, with total daily trading volume increasing from $931M to $1288M.

This is a massive increase; Binance’s daily trading volume has dropped from $14.4B to $7.4B, almost ~50%. Image
3/ With an increasing number of on-chain perps, the growth of decentralized perps trading industry is inevitable.

We narrowed the analysis to the top 5 decentralized perps by trading volume over the same time period. Image
Read 13 tweets
An Ape's Prologue Profile picture
May 25
Weekly Alpha Image
2/ Governance Proposals and Next Week's Alpha Image
3/ News and Tweets of the Week Image
Read 4 tweets
An Ape's Prologue Profile picture
May 24
After the rumors involving the Multichain team being arrested, we decided to take a look at the protocols with the highest exposure to it.

In first place comes Fantom, with 35% of its total TVL locked in it and a significant portion of the chain's assets issued by the bridge. Image
2/ 40% of all Fantom assets, excluding its native $FTM token, are issued by Multichain.

These assets, primarily wrapped ones, amount to $650M, signaling a significant reliance on the bridge. Image
3/ Looking at stablecoins, the situation becomes more concerning

Multichain issues 81% of the total stablecoin market cap within the Fantom ecosystem, with $USDC leading at $194M out of $458M. Image
Read 5 tweets
An Ape's Prologue Profile picture
May 23
LSDfi - the next Lego on top of DeFi composability

As $ETH staking infrastructure matures and users get increasingly comfortable holding and earning with $ETH in its staked form, it is time to look forward to the next step in DeFi composability - LSDfi.

Let’s explore: Image
2/ Following Lido V2, the interest in staked $ETH remains strong.

Currently, LSDs sum up to nearly 48% of the 18.8M $ETH staked to date. Image
3/ Given the expectation of continued staked $ETH growth, various protocols have emerged to serve this pool of capital that would potentially be seeking out more utility and yield.

While not comprehensive, below are protocols we currently find notable within the LSDfi category. Image
Read 15 tweets

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