A dive into EigenLayer

@eigenlayer is building a set of smart contracts on Ethereum that allows ETH stakers to opt into validating other applications or networks, extending Ethereum’s cryptoeconomic security

A thread on what it is and whether it warrants the recent hype👇

1/21 One way to think about EigenLayer is that it’s similar to Polkadot and Cosmos Interchain Security - extending the same validator set to secure standalone applications, or Actively Validated Services (AVS)

2/21

A Cosmos Thesis

@cosmos is at the very center of attention this week ahead of a major announcement concerning the future of the ecosystem. But what’s all the hype about?

Here’s everything you need to know about Cosmos 👇

1/27 Cosmos TL;DR:

- Tendermint Core
- ABCI
- Cosmos SDK
- IBC
- Hubs and Zones
- Interchain Security
- Unique ecosystem

2/27

NFTs & DeFi: Lending Markets

NFT lending platforms allow users to borrow liquid assets by collateralizing their NFTs. In this thread we’ll dive into peer-to-peer, peer-to-pool, and CDP lending in NFTs to make sense of this growing trend🧵

1/24 One of the challenges of long-term investment in NFTs is treasury management. Holding NFTs means locking up significant amounts of capital into an illiquid investment which can drop in price in a matter of days.

2/24

NFTs & DeFi: Fractionalization

Fractionalization allows users to get price exposure to an NFT without owning the whole thing. Let’s dive into what it is and how it works.

1/21 Marquee collections like BAYC, MAYC, and CryptoPunks have floor prices beyond what most retail investors can afford. Driven by FOMO, some seek to buy a part of the hot NFT to become part of the ecosystem. This often carries implicit tradeoffs, unique to each project.

2/21

Back to the Basics: MakerDAO

@MakerDAO is the largest decentralized stablecoin protocol. It has 6.4 billion $DAI outstanding, collateralized by over $8 billion of crypto and real-world assets including USDC, ETH, BTC, and stETH.

Let’s get into what it is and how it works

1/29 MakerDAO was launched in 2017 with a Single-Collateral DAI system (SAI), which allowed users to mint $DAI using $ETH as collateral. Users could take out overcollateralized stablecoin loans against their $ETH holdings. If the value of $ETH fell, they’d get liquidated

2/29

100 questions you should ask yourself when analyzing tokenomics

You’ve found a project you like and are considering aping in. Before you do, consult this list. Asking these really helps to avoid fool’s gold and to choose better long-term investments in the crypto market.

🧵 Question outline:

- General
- Token launch
- Supply
- Demand
- Token utility
- Past performance
- Currently relevant questions

👇

I’ve created my first @DuneAnalytics dashboard. This one analyzes on-chain data for stablecoins, such as their outstanding supply, transaction volume, and velocity.

A short thread on how it works🧵

1/8

dune.com/kinaumov/stabl… I started my research with the Stablecoins dashboard by @hagaetc, which has been one of the favorite tools of crypto analysts for a long time. However, there were some things I wanted to improve and some features I wanted to add.

2/8

Back to the Basics: Compound, Aave

Compound and Aave built the foundation for DeFi money markets so knowing the formulas behind them is crucial to evaluating new lending products. In this thread I’ll summarize exactly how they work. Try to follow the math, it’s interesting

1/46 While some people may be familiar with the general concepts of how these lending platforms work, few can explain the gigabrain formulas. It may get complex fairly quickly, so feel free to pause or skip parts of the thread.

Let’s get into it!

2/46

Back to the Basics: Uniswap, Balancer, Curve

Understanding DeFi fundamentals is crucial for analyzing newer projects. In this thread I’ll summarize over 100 pages of AMM research and explain exactly how these three protocols work. Try to follow the math, it’s interesting.

1/55 I noticed that most of the new talent in the crypto space aren’t familiar with the mechanics of these protocols, which are really central to DeFi infrastructure and its history

Btw feel free to skip parts of the thread straight to the project you want

Let’s get into it

2/55

Apparently Coinbase didn’t just “stop hiring”. They also pulled accepted offers. That means they ghosted interns, who now have zero prospect of finding work for the summer. How is web3 meant to attract talent if even giants like Coinbase can’t guarantee any kind of job stability? Coinbase hires some of the best minds in the crypto space. These are brilliant engineers and analysts, who were just left high and dry. If anyone’s hiring, use the comment space to promote your job board.

The OpenDAO is one of the most rapidly developing and exciting DAOs to be part of in 2022. With the "entry" price having dropped significantly since the airdrop, now is a great time to get involved. Here’s a short overview of @The_OpenDAO for those who didn’t pay attention

1/x I’m sure you heard of The OpenDAO back when it was airdropped to users on the 23rd of December. Influencers left and right were pledging to advocate for the project for years to come. Like with every trend, however, the hype soon subsided.

2/x

ERC-3525 is a Semi-Fungible Token Standard created by @SolvProtocol to be used for financial NFTs. Semi-fungible tokens combine the divisibility of ERC-20 tokens with the information description capabilities of ERC-721, leading to implementations that will revolutionize DeFi

1/x The smart contract interfaces described in EIP-3525 outline an extension to ERC-721 and add “units” and “slot” properties. “Units” indicates the quantitative nature of the token. “Slot” groups tokens into categories and allows to split and merge tokens with the same slot.

2/x

NEAR Lending

Whether you paid attention or not, @NearProtocol has grown a lot in the last months. While making a bet on $NEAR by itself may be too late, betting on its untapped markets is a pure alpha play. Get into these projects now and you might win the lottery

1/x Unlike other L1s, NEAR does not have an established money market yet. Most protocols aren’t even past alpha testing. And while they don’t have tokens (yet), one can participate by contributing to development, building out their community, or just yield farming early.

2/x

A Harmony Thesis.

Over the last two years, @harmonyprotocol has built one of the best blockchains in terms of both tech and user experience. It is positioned to outperform other L1s this year in ecosystem growth, user adoption, and token performance.

1/x Harmony is a high-throughput, low-latency and low-fee consensus platform founded in 2018 by @stse, @RongjianLan, and @SahilDewan. It’s mainnet went live in June 2019, being the first sharding-based blockchain.

2/x

Decoding Play-to-Earn (P2E)

A 🧵 that explores five of the most popular play-to-earn games, their economics, and long-run sustainability to help investors, gamers, NFT collectors, and new game developers better understand game economics and participate.

1/60 Disclaimer: nothing you will read in this thread is financial advice. This research was collected for educational and advisory purposes at @HASHCIB. Definitely reach out to us if you are raising funds for your next venture.

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