Aryan (@aryansharma) • Hey
Alpha Maxi 🕸️ | DeFi & Web3 🌐
Publications
- Now you can borrow USDC against $bonsai.
This made me more bullish on this. LFG!
- Days like today separate the strong from the weak.
The Strong:
- Zoom out and see the big picture. (Pre halving, Pre Retail)
- Farm airdrops like madmen to generate more income.
- Thirst for the opportunity to buy assets at a discount.
- Revisit their investments and check if their theses hold true.
The Weak:
- Turbo dump their bags at the first sign of a negative global event.
- Pout that their portfolio is down 30%.
- Ignore the markets entirely until BTC hits $ 70k again.
- Halving LOADING... ⌛
Are you excited?
- Yo April Fool guys,
Bitcoin halving was a joke.
Halving your Netwoth was the whole idea.
Thanks for playing.
- Satoshi Nakamoto
- I just claimed my $BONSAI reward on @lens/orb!
- **Airdrop Alpha 🪂**
For all my low-capital farmers, Getgrass_io might literally be made for you
You need no funds, no wallet, only an internet connection and their browser extension and you will farm their points for basically no costs.
Basically the catch is that they are using your unused internet bandwidth and provide it to vetted institutions and high-profile companies that need more of it, you're literally turning a wasted resource into potential rewards.
Get Grass recently announced a $ 3.5M raise on top of that.
Sign up here: https://app.getgrass.io/register/?referralCode=JzV3DtE7Lh2OXOK
- This will gonna be huge airdrop.
Don't miss this.
- The memecoin mania really reminds me of the earlier days of crypto where there’s a more level playing field for everyone
Most older gen investors that overindex to “safe” proven sectors don’t have a good framework for evaluating good long term bets here yet, but some are starting to. Many “don’t get it”
I’m happy for everyone that is winning, especially the new generation
- JUST IN: BlackRock files to purchase spot #Bitcoin ETFs for its Global Allocation Fund.
- The rollup-centric roadmap + EIP-1559 creates a direct value transfer mechanism from new L2 token holders to $ETH holders.
Rollups' obligation to Ethereum
Right now rollups are spending ~$ 30m / month (~12,000 $ETH) publishing data to L1 (~15% of all fees paid on Ethereum).
As new rollups come online, they begin publishing blocks to Ethereum and paying for data--regardless of transaction volume.
- zkEVMs are closer to paying a fixed cost for data (~constant-size scaling)
- Optimistic rollups are closer to having a variable cost structure (~linear scaling)
In this analogy Ethereum is a supplier to rollups.
And regardless of the terms of the supplier/credit agreement (fixed/variable cost), you can think of Ethereum L1 as a creditor with seniority over L2 rollup operators (nodes).
In low-transaction-volume regimes where transaction fees on the L2 are unable to cover the rollup's cost model, rollup operators have to continue paying for data publishing.
In this case operators likely have to be subsidized by foundation treasuries or via direct block subsidies.
Treasuries and subsidies would of course come from native L2 token emissions or grants.
As a result, L2 tokens are an issuance backstop to paying the debt owed to L1 for supplying services.
In business terms, L2's have a few decisions if they can't meet their go-forward obligation to Ethereum:
1) cut margins (typical rollup operator margins are ~25% today)
2) switch suppliers (switch to non-Ethereum data availability)
3) "default" on L1 consensus (halt the chain by not publishing data)
4844
In supplier terms, EIP-4844 is like opening a brand new factory producing a data publishing product exclusively for L2 customers.
It has an entirely new data type and fee marketplace and promises to reduce overall costs for data publishing.
Clearly the EF is looking ahead and trying to undercut competition by creating a new, cheaper supply source--imagine bringing a Giga factory of data online.
Plenty has been written about 4844 but to summarize:
- new data product ("blobs")
- 3 gas per byte vs. 16 gas per byte
- blob data deleted after a few weeks
By the way just because 4844 only costs 3 gas per byte vs. "normal" L1's 16 gas per byte this does NOT mean that 4844 will automatically be 5 times cheaper!
Remember: 4844 creates an entirely new gas market, so even though the gas per byte of data goes down, the cost per unit gas ("gas price") may go higher.
In fact there's no reason to believe 4844 doesn't get saturated in the long term and come to price-parity with call data.
So to extend an analogy I've used previously:
If Ethereum is a highway and rollups are buses traveling on the highway (i.e. they enable high throughput via batch-processing), then 4844 is a dedicated bus lane.
The bus lane can still be congested to the point where throughput / TPS in the dedicated lane is no better than traveling in the regular lanes.
We can also think of the "opening" of 4844 as a one-time supply glut that tanks the cost of data publishing on Ethereum, attracting more rollups to commit to a perpetual supplier agreement.
In other words, 4844 is a one-time promotion! "One time only! Gas 95% off!" Once rollups sign up, there is tremendous technical and social overhead to leaving ("Wait I thought you guys were Ethereum-aligned?").
As someone who's faded the rollup-centric roadmap and horizontal scaling, I've come around--the entire design is brilliant for $ETH.
tl;dr
- L2's sign up for a perpetual obligation to L1, backstopped by their own token holders
- $ETH represents super-senior debt: it always gets paid first.
- If L2 rollup operators can't pay their obligations, then L2 token holders have to backstop operations with more issuance
- 4844 is a one-time promotion that will attract tons of new L2's to commit to Ethereum for life (high lifetime value customers)
- LFG.
It's open now. $LENS Soon
- **🎉 Pixels Airdrop season 2 is live:** last chance to earn $PIXEL
🎁We already made decent profit in $BERRY tokens in play to earn
**👇Join season 2 now. It will be live for 2 weeks only**
🔗 dashboard.pixels.xyz/contest/pixels_airdrop_2?rid=6597a68429f26c3a5ba8ec3b
✅Finish quests 🎁To win $PIXEL
- **Airdrop Alpha** 🪂
**Ethena** is a decentralized protocol on Ethereum offering a crypto-based alternative to traditional banking. **Binance Labs** also announced their investment in Ethena.
You can join the Shard airdrop campaign as of now. The beta is now live. Already 21k+ users joined.
**The airdrop** is going to be a blast, and by the time everyone's talking about it, we'll have already collected quite a few Shards.
Link : https://app.ethena.fi/join/ss51o
- rules to survive n make profits in crypto:
>buy into capitulation when everyone's crying n panicking
>buy hard when you got conviction
>take profits at every 5x 10x
>sell into euphoria when ppl start sharing their gains n screenshots
>dump harder b4 dev starts rugging
- if you're young & have limited risk (no kids,no crazy debt) but unlimited time & energy you should go ALL-in crypto.
its the fastest way to escape the rat race, good luck
- To all those who don't feel jealous but instead send positive vibes and celebrate others' victories:
You guys are legends.
May the pump be with you in all aspects of life, not just in the markets!
- 🎉 Happy New Year, Lens fam! 🌿
May 2024 be a year of joy, success, and unforgettable moments for each of you. Let's embrace new opportunities, cherish old memories, and spread kindness like confetti! 🥳
Here's to new beginnings, endless laughter, and the beautiful journey ahead.
🌟 #HappyNewYear #CheersTo2024 🥂🍾
- **This Week's Smart Money Analysis**
Wallets tracked: 23
Assets: $ 27m
We saw a crash this week, which wiped out a massive $ 500m in liquidations. Let's see what the wallets did.
**What They Bought:**
This week continues the strong buying trend in GambleFi protocols, a pattern established last week.
• GambleFi remains strong with both $ROLLBIT and $WINR are maintaining their momentum. Quite a few of our wallets are invested in both - indicating RLB as the alpha and WINR as the beta play in this sector.
• Perp Dexs. There was a notable increase in buy signals for $GMX and $LVL. This trend suggests a potential short-term resurgence in interest in Perpetual Decentralized Exchange (Perp Dex) protocols.
Interest in Levels could be due to rising metrics, and a major catalyst on the way with version 2.0.
• They're also buying $Mubi. MultiBit is a bridging platform that transfers tokens between Bitcoin and EVM networks.
**What They Sold:**
• This week, we observed a significant selling event in $WBTC, particularly among users heavily engaged in DeFi activities.
This activity and certain stablecoin trends we'll discuss later indicate a growing sense of caution among investors.
• Another key point to note is our smart money group's substantial sell-off in $INJ. After peaking at an all-time high of $ 44, $INJ experienced a pullback to the $ 36 range.
This movement might present a potential buying opportunity for vigilant investors.
• Additionally, the first week of 2024 has seen notable selling activity in $MKR and $ALCX, marking a shift in investor sentiment for these tokens.
In this week's buying activity, we continue to see strong confirmation of interest in gambling protocols on Layer 2 networks.
This sustained focus underscores the growing market enthusiasm for these platforms.
Additionally, the recent comeback of the Solana DeFi ecosystem is worth noting, as it has attracted a significant inflow of stablecoins.
Signaling once again strong investor interest and opportunities.
For the first week of 2024, despite experiencing a brief flash crash, The P&L analysis of our smart money investments indicates a positive trajectory.
Overall, there has been a noteworthy 15% increase in profit, demonstrating resilience during volatile market conditions.
We're developing a correlation index to compare the P&L of our smart money investments against the market's relative strength, focusing mainly on Bitcoin and Ethereum.
**This week, our index indicated a correlation ratio of 0.88.**
Despite the average, The stablecoin market saw an uptick, trending towards the 20% allocation.
These signals are usually telling us of more cautious investors towards the market.
There was a little spike towards the mid-end of this week (20% allocation during Wed-Thu) due to natural selling pressure.
We found some opportunities thanks to volatile times, which will be further explained in the next smart money weekly update.
**Degen Shitcoins**
Please be advised that the tokens listed here have been subject to engagement classified under our 'degen' interactions by the smart money watchlist.
These tokens represent new launches and currently possess a market capitalization of less than $ 1 million.
It’s important to note how we use smart money alerts. They’re meant to be a way to spot potential gems and to find trends early.
They’re not meant to be buying signals. Use these as a way to spot gems to conduct further research.
- 2024 is the most important year of our lives
we are used to these cycles now, but there won't be another easy cycle like this one. although this will be the smallest cycle so far, it'll be just like the other ones, and we need to left curve it one last time until small countries buy our absolute scams and they flatten out
meditate an hour on this:
"never in my entire life will i be able to make this much money as easily as next year"
pretty serious stuff if you think like this
throw all the time and money you have into this ponzi, because you are young and money comes back, but this opportunity will never come back
also if you're already rich and lose it all on leverage there won't be "another cycle to make it back". so risk it all but don't lose it all
wagmi (jk
- The only thing you have to do in this upcoming bull run is to position yourself in
- AI
- GameFi
- RWA
- Infrastructure
before they pull another 10x. Avoid the noise and don't fuck up.
- **Airdrop Alpha 🪂**
For all my low-capital farmers that missed it, **Getgrass_io** might literally be made for you
You need no funds, no wallet, only an internet connection and their browser extension and you will farm their points for basically no costs
Basically the catch is that they are using your unused internet bandwidth and provide it to vetted institutions and high-profile companies that need more of it, you're literally turning a wasted resource into potential rewards
Get Grass recently announced a $ 3.5M raise on top of that so I'd say the risk reward is definitely interesting here considering you basically need nothing but an internet connection to start.
**Sign up here:** https://app.getgrass.io/register?referralCode=JzV3DtE7Lh2OXOK
Good Luck
- People will start calling you lucky once you start winning.
It's easier to say you're "lucky" than to say it's because of your hard work, intelligence, or sacrifice.
It's their way of coping that they didn't put in the work. So, they convince themselves that success is random
- Daily research:
1) Heavy subjects: Protocol updates, governance forums
2) Tools: On-chain, metrics dashboards, charts
3) Learn from others: Twitter, newsletters, discord, telegram
I need routines, or I'd just be doomscrolling CT all day.
- Exploits are the rare occasions where the truly giga-brains can shine and become the crypto kings for a few hours
On behalf of all the apes, thank you for your work to save our ass 🫡
[Don't interact with dapps right now]
- Lens Protocol
- Thank you @lens/lensprotocol . Loved it
- BTC just reached 42,000 American Dollarinos
Congratulations to the ones that stayed during the tough times
FTX, Luna, Depegs, FED, hacks, exploits, Gensler, rugs, hacks ...
The BTC ETF is closer than ever
Halving in a few months
ETH ETF is around the corner
Institutions are coming
Retails arriving
Majors and alts pumping
And the best part here?
It's just the beginning
The best is yet to come,
Random coins will do 5x, 20x, 100x,
People starting to call us lucky
And I can't wait for people to call us lucky
- JUST IN: 🇺🇸 US Government criminally charges #Binance with the following:
• Conspiracy
• Conducting Unlicensed Money Transmitting Business
• Violating International Emergency Economic Powers Act
- what’s your all time favorite anime?
mine is naruto!
- ✨ On this day, exactly 15 years ago, Satoshi Nakamoto began sharing the 1st versions of the #Bitcoin code
- You are sidelined.
You want to buy, but the dips last a mere few hours.
You want a 30-40% correction, but then the market rips 10-20% the next day and the next day after that.
You are in pain and don't know what to do.
You had a year to accumulate everything.
- Ethereum bullish case:
- BlackRock spot ETF.
- Deflationary.
- Ultra sound money.
Bitcoin bullish case:
- BlackRock spot ETF.
- Digital gold.
- Pet rock.
Choose your fighter: 🥊 👇
- **Arbitrum DAO just approved the $ARB staking proposal**
This should lead to an increase in demand for #Arbitrum token, Even if 100% of circulating tokens are staked (unlikely); Yield is anticipated to be higher than the likes of $ETH and $SOL
Also... $ARB LSDs soon?
- Intresting 💎
- How to use DeFillama to spot new trends early.
1. Go to Chains and filter based off highest 1 day or 7 day change.
2. Find the chains that have the biggest changes in TVL. Make sure the chain has a decent baseline for volume.
3. Click on the chain to see what protocol is driving inflows. Shimmer and MultiverseX stand out to me so I want to see what is driving growth.
4. Do more research and see if there are catalysts for the chain.
5. Look at the price of the token compared to recent TVL. Volume often precedes price changes.
6. Go to Fees/Revenue to find revenue info on specific projects. If you find a project with growing revenue but no price movement, that could warrant more research.
7. For new chains, you gain exposure either through holding the native token or looking for farms on app protocols.
8. Remember that the newer something is, the more risk it carries. Make sure the chain and app are legitimate before putting your money in.
- For Crypto:
In bear markets focus is on revenue and users
In bull markets focus is on growth narratives
In bear markets narrative chasers get crushed
In a bull market focus on revenue an users leads to mediocre returns
- is anyone able to articulate why they think $SOL is overvalued relative to the other alternative blockchains?
it still has a higher transaction count than any other mid-large cap blockchain, and third highest user count after BSC/TRX (which are used differently, i.e Tron is almost entirely for stablecoin transfers)
it has proven itself as one of the most performant blockchains in practice (not just theory). Visa selected them as their blockchain of choice for a reason.
it has one of the best brands and network effects in all of web3 right now, and is well received by institutions and retail participants, which creates a strong path for future growth. mobile stack enhances this.
it has the largest NFT and general community presence outside of Ethereum ecosystem.
it has the highest number of total developers working on it after Ethereum according to Electric Capital's 2022 developer report.
it also has far greater value accrual compared to the beloved L2 tokens, which are only used for governance at this time, yet no one on my tl seems to have an issue with them.
so tell me again why it doesn't deserve to have the number 1 spot among alternative blockchains?
- Pro tip: when it comes to DYOR, you know imma LinkedIn maxi. I want see past founder/leadership experience, track records of success (or lack thereof), and so much more. But what do you do if a project doesn’t have a LI company page?
Step 1: Google “ X( Project Name) + ‘Founder’ ”
Step 2: Then search for those names on LinkedIn (try filtering by industry - tech, finance, IT - or country to get better results faster). If they don’t come up repeat step 1 and 2 with ‘advisor’.
Step 3: If you think you’ve found them on LI, see if they have terms like Web3, DeFi, Blockchain, etc in their title, bio, or role descriptions. That’s likely them.
Step 4: Go to their experience section to fully confirm that’s them (hopefully the project is named or referenced - or its use cases/benefits are described). keep doing this for as many folks as you can find.
But what if you’re certain it’s them but the project still isn’t listed but they have an active role somewhere else?
Step 5: Google that project, explore its website, explore its crunchbase page. It might be the project’s true parent company. What does that company look like? How long has it been around? Has it successfully scaled? Does it have legitimate partners? Does it seem like total BS?
Rinse and repeat 💦
- Those who persevered and didn't give up are reaping rewards.
Kudos to you if you're still here, putting in the effort.
- You've endured the bear market.
- You've weathered the FTX FUD.
- You've stood strong through the Binance FUD.
You truly deserve this bullish market.
- Happy halloween 🎃 everyone 👻
- When it comes to meme coins:
- $PEPE is excessively overrated, with a delusional community and a shady team.
- $DOGE is solid, with good memes and the backing of Elon Musk.
- $SHIB is currently building their L2 chain called Shibarium.
- $FLOKI is embracing the RWA narrative with its platform at @tokenfi.lens
which meme coin do u like?
- Gm! I'm super excited to join DeFi!
- Comments per day across Lens Protocol ATH, means engagement is increasing
- All the bottom signals in the past month or so
- Bitboy loses it
- Zhusu arrested
- Metamask removed from the app store
- SBF trial
- Bear steepener fud
- ETH foundation sold
- Kraken launching stock trading
- Chase bank banned crypto payments in the UK
- “95% of NFT market is now worthless” headline
- FTX bankruptcy estate market dumping 2B of coins
BTC up +40% since then, total crypto marketcap up +25%
Bears are fucked
- All the bottom signals in the past month or so
- Bitboy loses it
- Zhusu arrested
- Metamask removed from the app store
- SBF trial
- Bear steepener fud
- ETH foundation sold
- Kraken launching stock trading
- Chase bank banned crypto payments in the UK
- “95% of NFT market is now worthless” headline
- FTX bankruptcy estate market dumping 2B of coins
BTC up +40% since then, total crypto marketcap up +25%
Bears are fucked
- A non-comprehensive list of all the airdrops I'm currently farming – none require daily interactions
Omnichain:
#1 LayerZero
#2 Polyhedra
L1:
#3 Base
#4 Starknet
#5 zkSync
#6 Aptos
#7 Linea
#8 Zora
#9 Poly zkEVM
#10 Scroll [soon]
#11 Shardeum [just a couple nodes]
#12 Debank
#13 Venom
#14 Optimism
Miscellaneous:
#15 MintFun
#16 Layer3
#17 Shuffle
#18 Pontem
#19 Taho
#20 Cosmos
Starknet-specific:
#21 Ekubo
#22 Jediswap
#23 Avnu
#24 Argent X
#25 Braavo/mySwap
#26 10kSwap
LP-only:
#27 Eigenlayer
#28 Ambient
#30 Azuro
#31 Timeswap
Solana:
#31 Tensor
#32 Jito
#33 Drift
#34 Kamino
#35 Jupiter
Perps:
#36 Aark Digital
#37 Hyperliquid
#38 Satori
Aggregators and Bridges:
#39 Jumper
#40 Bungee
#41 Orbiter
#42 Chainhop
#43 Layerswap [probably won't airdrop]
#44 Zerion
#45 Meson
#46 DefiLlama
#47 Odos
#48 Bebop
#49 Slingshot
#50 Metamask
I believe this covers about 90% of the protocols I'm currently engaging with at least once per month.
Waiting on a few more launches to join that list.
The verdict will always be the same: 'You're so lucky'
- Scroll has officially launched its mainnet
Explore the Scroll ecosystem with over 180 projects!
- So many bots spamming in DMs.
Any Solutions? @lensprotocol.lens @orbapp.lens @nilesh.lens @stani.lens
- it was a good day to stay offline and enjoy the nature! #MountFuji ❤️
- It's interesting that for an industry that is akin to complete free market and most things being open source. we actually see dominant category leaders in crypto widening their gaps with competitors instead of closing.
Decentralized Money: Bitcoin continue to be the King, all others are irrelevant and market cap are significantly smaller now such as LTC, BCH, ZEC.
Smart Contract Layer 1: Ethereum continue to lead and all Ethereum aligned L2 (Arbitrum, OP, Polygon, Linea, Starkware, zkSync, Mantle) are collectively valued higher than all the alt L1 excluding BNB now. Builders are also generally more interested to build on Eth L2 than alt L1 except for Solana and some Cosmos App-chain.
Centralized Exchanges: For offshore exchanges, Binance still leader however losing market share lately due to legal and regulatory issue, OKX gradually taking more market share and offer a better product to most traders now except for liquidity. Coinbase extend its lead as No.1 onshore USD enabled exchange, gaining market share over others such as Kraken, Gemini and Bitstamp.
Decentralized Exchanges: Uniswap continue its dominance with more than 70% market share, Curve gradually losing market share and will take time to restore trust post exploit. Maverick is the only new DEX that manage to gain some relevant lately.
Liquid Staking: Lido continue to maintain and extend its dominance, don't see any other liquid staking solution taking away significant market share.
Permissionless Lending/Borrowing: Aave and Compound continue to be the two leaders with Aave having 2x TVL of Compound. Radiant is interesting but still only manage to gather less than 15% of Compound TVL. I exclude JustLend as that is essentially one man's bank.
Fiat-backed Stablecoins: USDT continue to maintain its dominance, USDC supply continue to decline and likely will continue to do so as it's the easiest to redeem and its holder having no issue off-ramping to seek T-bill yield generally. pyUSD is interesting given Paypal's distribution network but still early days and historically all successful stablecoins need a Tier 1 CEX as distribution partners.
Decentralized Stablecoins: MakerDAO clear leader here with DAI supply reversing the trend after the DSR was raised to 8% and 5% now, one of the few DeFi protocols showing growth in this market. Generally dont think other decentralised stablecoins can challenge DAI now.
Decentralized Derivatives: dYdX continue to be the leader with more than 50% market share despite v3 being essentially the same product for more than a year with no new pairs and features added. V4 launch will likely widen its gap with peers. SNX and GMX the other 2 leading perp dex with a LP pool based architecture.
NFT Marketplace: A few rare example where an upstart Blur manage to take away significant market share from OpenSea and have 60+% market share now. Granted this is boosted by token incentives so will be interesting to see how it evolves post incentivized trading on Blur.