Notes on Solana Fees:
I wanted to try to summarize a few things on the Solana fee mechanism. Just some notes I’ve compiled from watching others so far, still learning, of course.
Solana’s transaction fee mechanism consists of a priority fee and base fee (similar to ETH). Most
Today is my first day on the research team with
@Blockworks_
/
@blockworksres
. Sad to move on from FranklinDAO, but happy to start forward in an industry I love. I wish you all the best!
Seeing snarky quote tweets to Franklin’s blaming universities for the Compound’s DAO issues. Major votes against the Golden Boys prop came from universities: ChicagoDAO, CalBlockchain, UMich, FranklinDAO.
I can’t believe a Compound governance attack happened.
How can that be possible when their VCs made the supremely wise decision of delegating their voting power to university clubs, exposing those young adults to unbounded legal exposure forever and setting them up as regulatory
Since everyone’s on the “RealYield” train with GMX and Umami, I thought it might be worth it to look at a lesser known protocol:
@GainsNetwork_io
/ $GNS.
A thread explaining its basics 👇🧵🍏
@Bond_Protocol
released their new bond products today. It's been in development by some of the minds behind
@OlympusDAO
. It's an important step towards solving liquidity issues in DeFi.
Here's a thread on what you should know 🧵👇
A few months ago,
@dYdX
announced a v4 transition to Cosmos from their Starkware zk-Rollup. This was the beginning of the question of whether App-specific L1s are more advantageous than App-specific rollups.
@joykchen
and I compared them based on all available info
🧵 A thread.
Criticisms of Solana Fees:
I want to briefly touch on the criticisms of solana fees. The next post will be on the current proposed solutions.
1. Fixed base fee isn’t responsive: a base fee fixed on a signature isn’t enough for really high loads. It needs a multiplier on the
great game
@kamigotchiworld
being built by some great people. Pocket monster/kamigotchi type game with skill trees to develop your “kamis”. It’s in testnet but if this is testnet, mainnet release is gonna be sick.
@0xPolygon
unveiled its new AggLayer infrastructure solution, calling it a game-changer for interoperability. Is this Polygon's answer to the Optimism Superchain?
I read their docs and watched
@_bfarmer
's presentation on the ETH Preconf Call so that you don't have to.
Hey! You've probably seen all the news of new stablecoins in the works, e.g. $GHO, $crvUSD, and $SILK and a few others, but you should probably know what differentiates many of these upcoming projects.
Let's get started by showcasing $crvUSD from
@CurveFinance
A thread. 1/7
Hopefully this served as a helpful post for some, it’s just a few things I’ve spectated so far. If you want to see the deep details of this check out these dudes:
@0xShitTrader
(his Umbra Research work is sick)
@jon_charb
(his podcast interview with
@SolBeachBum
talks about the
Proposed Solutions to the Fee Mechanism:
1. Base fee multiplier: have a base fee that accounts for resources used instead of one standardized payment of 5000 lamports. Something with a multiplier on how much Compute Units used by the transaction. Essentially (Signature Cost +
Let's do a modular overview of Fuel, an L2 specializing in modularity coming to its next testnet cycle in Q1 of 2023.
So, what is Fuel, how does it work, and how does it continue the trending change in VM innovation?
A deep dive. 🧵
Saying students were put at legal risk is one thing. Blaming the management of the DAO on university actors is another. Inaction is a DAO problem that’s solved by better incentive systems.
We just made our
@Solana
dashboard available to everyone 🔥
Let this be your one-stop shop for all things Solana data. Track TEV stats, validator and staker cash flow, transaction activity/segmentation, and more!
Let's take a look at the highlights 👇
oh and another thought; I think there's merit to saying that Frax is riding the narrative waves with its recent pursuit for an L2. Like, I understand sector specific networks (i.e. Sei) but an entire DeFi protocol to have its own L2 seems like cutting bread with a sword.
@0xDinoEggs
Best ways to judge a rollup, fun experiments/metrics to use to measure rollups against each other, similar to how everyone uses TPS on L1s to gauge for scalability you know?
- go see more movies, genuinely love going to movie theatres
- take my grandpa fishing (i'd like to return the favor at least once)
and finally: fail, and keep failing, over and over and over and over and over again, until i get the result i'm satisfied with.
If you like this thread, see my substack for long form takes, and stay tuned for a comparison w/
@DebondProtocol
+
@Bond_Protocol
this coming week. See my recent Frax post here before then:
Si habla español puede verme en la cuenta
@ApolloEspanol
Sequencer decentralization is an important concept in the future of rollup development. The sequencer is the component of a rollup tasked with ordering and batching transactions to be submitted to the L1 for approval. Almost all rollups have centralized sequencers.
A thread 🧵.
Hello folks! I'm running for Arbitrum's Multi-sig Support Service to help streamline the operations related to all ArbitrumDAO's multi-sigs. Feel free to vote for me in snapshot tomorrow!
1/ ArbitrumDAO governance has reached a critical juncture with three new proposals that could significantly shape the DAO's future:
- ARB staking
- New transaction ordering policy
- Increasing the base gas fee
What is Blockworks' research perspective on these proposals? A 🧵
I'm trying out paragraph, might just migrate over here and stop using substack. Here's something new, a quick little summarization of what's happening in the CBDC world. Expect a lot more soon.
@VitalikButerin
,
@glenweyl
, and
@pujaohlhaver
, recently published a paper on the possibilities of Soulbound Tokens (SBTs). SBTs are tokens that are non-transferable and can be issued to a Soul (user’s wallet). A 🧵 summarizing some of the paper's highlights. 1/24
7. Aptos will do an any%speedrun to ghost chain status, mass migration to Sui, only to have a repeat. Diabolical tokenomics + cringe histories with FTX, Saber, etc + mercenary users will make for a short boom, massive sell off, and a flatline.
@sassal0x
I think you’re missing a key crux to the argument here. People aren’t worried about cash flow revenue for ETH alone, it’s a combination that ETH has low cash flows currently, and what maybe the most valuable layer in the “modular” stack — execution — was conceded to rollups. We
I take it back ORE sucks. The stake multiplier isn’t high enough to make staking worth it, and even if it was that just leads to a long term centralization problem. pure meme, you live and learn. Maybe I’ll keep mining tho and insta dumping
@Ace_da_Book
What? There are entire sections of the roadmap not completed? There’s still quantum resistance implementations, further data availability upgrades, hell this year the EF will break its record again and achieve the biggest ETH Hardfork to date.
@nickwh8te
@solana
@farcaster_xyz
Sure, but its basically confirmed/obvious that the blinks are going to be an all encompassing solution for both X/other platforms and for whatever native platform is already in development.
@SolanaLegend
No one's ignoring the centralized state of L2s. There's a reason it's a recurring topic at every conference. L2s aren't any more extractive than your avg alt L1 (aptos).
• State of AVAX NFT Market
The Avalanche NFT market is very small and has room for growth. It ranks 12th in NFT sales behind WAX blockchain, Cardano, and others, according to CryptoSlam. AVAX NFTs are most dominantly traded on OpenSea or Joepegs (Trader Joe NFT marketplace).
@JonWong2002
“Modular blockchain stacks and cross-chain infrastructure are low-hanging fruits that will see great adoption and even more VC investment in 2023. We will see massive growth in the use of DA layers (EigenDA and Celestia), bridges, and the Cosmos ecosystem.”
5/14
1. More unfinished L2 tokens are to be released. Probably the ARB token followed by 1-2 zkr tokens (expecting Stark and zkSync). None of these tokens will be used for anything apart from governance right now, but will later be used to further decentralize rollups down the line.
One of the cool underrated features is definitely the ingame chat with farcaster. It’s a simple game rn, but I enjoy actually signing in and trying to finish my quests.
A friend shared this with me and it was a terrifying read lol. If I interpreted it right, the tldr is that our experience of existence is either discrete (our past version of ourself dies constantly?) or we can teleport and not die in the process.
It never crossed my mind that
- go back to learning a third language after getting a job
- run 5ks more consistently (ran in 1 for 2022, going for 3+, at least 1 while studying abroad)
- blah blah broaden social network blah blah friends
- have another neurodevelopment moment like at devcon this year
Recently,
@SynapseProtocol
made the announcement that it will be launching an optimistic rollup, “Synapse Chain” in the future. Paired with this was the information for a future SynV2. A summary of all the information in the announcement 👇🧵
If you caught me in early 2022/late2021 you'd know I was essentially bullish on every single alt l1. Now I feel far different, and I'm more or less automatically pessimistic about most L1s, bar Cosmos, and even then I am skeptical. Here's a few L1 predictions.
Finally, the GNS team is extremely active and are soon to launch v6.2 and plan to bring single sided staking for the $GNS token in the coming 2 weeks. I hope you enjoyed this thread and learned something new! 7/7
hope you enjoyed my basic ass predictions. if you notice an absence of MEV content it's because that's kinda a dark forest for me (thank you ill be in town until jan 31st). hopefully, I can develop a question to answer that'll be worthwhile for myself and for creating an audience
@blknoiz06
The biggest part of AAVE v3 is that it allows for liquidity bridging. There’ll be bridges approved through governance proposals and AAVE’s aTokens will be burned on the initial network transfer and minted on the destination network. Basically more cross chain interaction.
So why are bonds necessary in crypto?
Many protocols suffer from liquidity issues and treasury risks. Commonly protocols launch a liquidity incentives program to bootstrap liquidity through yield farming on their platform. This has mixed results.
💸 contd.
Current subnets in development take advantage of this advantage heavily, notably SHRAPNEL with its NFT looting system and Dexalot, a centralized limit orderbook platform. A subnet that can deploy parallel processing with low finality would be killer for both these apps.
So, Messari thinks that this stablecoin may increase Curve's revenue by anywhere between 40-100%. If you want to read their prediction DM me. We'll see what happens!
By the way, I'm rebranding my substack to check it out now! 7/7