Hello,Crypto’s killer application is already here in the form of stablecoins. In 2023, Visa did close to $15 trillion in transaction volume. Stablecoins did about $20.8 trillion in total transaction volume. Since 2019, $221 trillion in stablecoins have been exchanged between wallets.Over the past few years, the equivalent of global GDPs has been moving through our blockchains. Over time, this capital has accumulated in different networks. Users switch between protocols for better financial opportunities or lower transfer costs. With the arrival of chain abstraction, users may not even know they are using a bridge.

PvP, or “player vs. player,” is a phrase used often by shitcoin traders to describe this current market cycle. The sentiment it evokes is predatory, where winning comes at the expense of others. That is so TradFi. The express purpose of the crypto capital markets is to allow those who risk their precious capital to enjoy the fruits of being “early” into projects that hopefully will grow apace with Web3. But oh, how we have strayed from the enlightened path laid down for us by Lord Satoshi and then subsequently Archangel Vitalik with his very successful Ether initial coin offering (ICO).

Over the past few months, the Synthetix Protocol has undergone significant developments and faced a range of challenges as it continues to expand and evolve. In this report, we will explore some of the key highlights, such as the successful migration to V3, new market launches, and governance updates. We’ll also dive into the challenges that have surfaced, particularly around liquidity, integration delays, and governance complexities. Let’s take a closer look at both the achievements and obstacles during this transformative period.

$147m Outflows Amid Weaker Sentiment; Multi-Asset Products Inflows for 16th Straight Week

Sometimes I get obsessed about certain topics to the point where I can’t stop reading about them and every adjacent topic required to understand that topic. The Japanese Yen has been the beneficiary of my passionate love for the past few months. Ask any of my friends and they’ll tell you how annoying I can be about it if you trigger me about it. Rather than re-explaining it all multiple times I thought why not just write an article to consolidate my knowledge into one blog post. This is that post.

Polkadot Decoded Asia, set to be held from September 16th to 17th in Singapore, is making steady progress in the preparatory work for the conference. This event is an integral part of the TOKEN2049 Week, with topics deeply focusing on the Polkadot ecosystem and gradually expanding to various aspects of the Web 3.0 domain.

Move is a new programming language for smart contract development. Originating from Facebook’s discontinued Diem and Novi projects, Move aims to revolutionize smart contract development by addressing the limitations of existing languages like Solidity – used for the EVM – and Rust – found in alternative L1 ecosystems such as Solana and Near. Move’s design philosophy focuses on improving security and enhancing developer experience. This approach aims to make smart contract development not only safer and more efficient but also more accessible to developers outside of the crypto space.

One of the many goals of the 2022 Ethereum Merge was to make Ethereum more decentralized. From a validator perspective, it’s not doing badly. Statistics show Coinbase is the largest, controlling almost 12% of staked ETH (although some claim it’s closer to 30%). However, validators don’t create the content of the blocks. Block builders are the ones who include transactions, decide on their order and then bid in the auction to get their block included. This month a single block builder, Beaverbuild, has built more than half of Ethereum’s blocks.

The ProbeLab team has developed and deployed infrastructure to monitor several critical metrics for Ethereum’s CL discv5 DHT network. In particular, we have adapted the Nebula crawler (GitHub - dennis-tra/nebula: 🌌 A network agnostic DHT crawler, monitor, and measurement tool that exposes timely information about DHT networks.) to be compatible with discv5-based networks and are gathering results that reflect the health of the P2P network at the DHT level.

Almost all of the L2 sequencers are closed-source, intellectual property, and thus protected behind centralized setups. To cram that much power into an entity requires a great deal of justification today. To decentralize the flow, on the other hand, one has to accept certain amounts of delay and noise usually found in decentralized compute networks.