1/ Last night, @variantfund hosted a demo night showcasing 9 teams working at the intersection of Crypto and AI. Here’s a little taste of what these builders are cooking up:
2/ Leading off, we had @hyperbolic_labs. @zjasper666 demoed their inference platform and GPU marketplace. They are my go-to inference solution for my personal AI projects and open source models.
3/ Next we had @RyanKuhel from @DLPLabs, a Vana Data DAO. He demoed how users can earn tokens by uploading their financial and LinkedIn data, which can then be sold to data providers or AI companies as training data.
4/ @MurrLincoln presented @CoinbaseDev SDK and Based Agent, an AI that can autonomously interact onchain.
I’m super excited to try this out myself and start building agents with their SDK.
5/ @ashlan_ahmed showed how @getaxal can automate action onchain with notifications and other integrations through verifiable agents.
6/ Jai from @NousResearch presented World Sim, allowing anyone to use inference to customize the web to their preferences.
7/ @ericxtang from @Livepeer demoed some of their new AI video editing capabilities. Eric used Livepeer’s platform to present as the viral Turkish Olympian Yusuf Dikec.
8/ @heyglif presented a plethora of AI-building tools and applications. One of my favorite tools was their Infinite Backrooms tool based on Seinfeld. AI Seinfeld characters were talking to each other around an episode of George getting into crypto.
9/ @andrewhong5297 showcased Sage, an AI tool to help you find and explain any smart contract or function, making manual etherscan searching a thing of the past. As an onchain analyst, this has been a game changer and has saved me hours.
10/ Finally, Anant presented @AIWayfinder. Wayfinder allows anyone to use natural language to transact onchain and to build custom smart contracts based on whatever their heart desires. Excited to see their community unleash a wave of new creative smart contracts.
11/ Thank you to all our presenters and those who came out! I loved seeing so many practical Crypto x AI applications that can be used today. If you are building in this space - my DMs are open.
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1/ Stablecoin-to-stablecoin volume on Ethereum hit an all-time high of $59.8B in August, making it the leading chain by DEX volume for the month.
Unlike long tail assets driving other L1s, Ethereum's resurgence is anchored in stablecoin activity, revealing a structural shift.
2/ Ethereum holds ~54% of total stablecoin supply, but the more striking trend is the rise of stableswaps, growing from 19.92% in January to 41.95% of total DEX volume in August. In total, 67.7% of all DEX activity last month involved at least one stablecoin.
3/ Besides Celo, no other chain came close to Ethereum's stablecoin-to-stablecoin DEX concentration.
BNB remains < 20% for stable swaps as a share of volume, while Solana & Base sit < ~3.5%
Ethereum did ~70% of all stablecoin swap volume across all chains for the last 90 days
As more projects work at the intersection of crypto x AI, we are starting to see how these two technologies can work together reflected onchain
An exploration of how the combined potential of crypto and AI is showing up in the onchain data
2/ AI agents are going to complete the bulk of onchain transactions
This trend is evident with Autonolas prediction market agents. The # of agent transactions has grown by 2x since the start of the year, completing over 38k weekly txs & ~63% of Gnosis Safe txs in the past month
2/ Autonolas agents demonstrate that even with ~453 agents acting onchain, their activity generates more transactions than human activity in Gnosis Safes.
Agents enable a future of higher efficiency & task coordination, with their output likely to surpass human onchain activity
1/ Hyperlane is emerging as a strong come-from-behind contender in enabling the modular future.
Hyperlane’s continued expansion to chains has enabled it to process over $1.5B in volume in the last 3 months.
An analysis of Hyperlane is growing into an interoperability leader.
2/ Hyperlane is an interoperability protocol that provides a toolkit for developers to streamline multichain connectivity. It allows anyone to set up routes to send messages, tokens, and NFTs across chains.
Their expansion has been permissionless, driven largely by third-parties deploying custom deployments on new rollups and chains.
3/ Hyperlane enables teams to permissionlessly connect chains to create new transfer routes. Notably:
- Over 8+ chains are transferring $2M+ in assets weekly
- +50% of the volume comes from the cosmos ecosystem such as chains such as Injective, InEVM, and Neutron
1/ You may have seen that some L1//L2s have seen ATH for active/new addresses in the past few months
My first response was potential sybilling / farming to blame?
In this analysis, I broke down Layer Zero Usage across chains to answer this question dune.com/jhackworth/sgu
2/ Everyone knows about the upcoming Layer Zero airdrop, but breaking down the % of network usage by chain for Stargate/L0 in the past thirty days is shocking:
AVAX: 41% of Addresses, 9.3% of TXs
OP: 36.41% of Addresses, 7.76% of TXs
ARB: 788K Addresses, 10.8% of TXs
3/ Analysis for the past 30 days also showed that many Stargate/L0 addresses had a majority to all of their transactions related to the protocol. Chains ranged from ~34 - 49% of the addresses having 100% of their transactions directly tied to Stargate/L0 contracts
Curious about the increased growth on L2s? My latest @DuneAnalytics dashboard breaking down the metrics, users, and protocols that are driving activity on Ethereum, Arbitrum, & Optimism. Top insights in the 🧵below.