Ian's Intel – Telegram
Ian's Intel
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Stay ahead with crypto news & alpha.

Disclosures: https://x.com/iansintel/bio
📩 https://news.1rj.ru/str/+AB-NidhT4GFiOGE1

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My latest report just dropped on Blockcrunch:

Amongst the CEX-backed L2 solutions that have recently launched, a clear victor emerges (at least for the moment). Base captured attention recently by flipping both Arbitrum and Optimism in activity and fees generated, thanks to the OnChainSummer Campaign and Friend Tech.

The report covers:
⁍ Base's background & architecture
⁍ The OP Stack & Superchain
⁍ Base metrics
⁍ Friend Tech & its impact on Base
Top 3 proxies to a $BASE token

https://blockcrunch.substack.com/p/all-about-that-base-behind-coinbase
👏1
Krafton, the video game conglomerate behind PUBG, announced its Cosmos chain — Settlus.

The chain will use cosmos sdk + EVM + $USDC for tx fees (Source)

News Source
👀2
Forwarded from infinityhedge
Stake response ^

*stake was paying some of these twitch streamers 100M, so should be easy for them to cover the 41M hole with their own money. h/t @0xngmi
Synapse

- SYN liquidity provider removed LP and sold holdings
https://x.com/synapseprotocol/status/1698865047324291412

- 9m SYN sold by Nima Capital (allegedly)
https://x.com/wazzcrypto/status/1698832634020016618

- onchain data shows 0x4df sold 9m SYN in two 3.4M tranches on sushiswap for $2.35M USDC, sending prices down by 25%
https://twitter.com/lookonchain/status/1698879573612732464
1inch Investment Fund buys $10m ETH at $1655

https://x.com/lookonchain/status/1699005558110761334
Frax Proposes Staked FRAX (sFRAX)

- similar to MKR's DSR product
- users deposit FRAX into a smart contract and earn interest in FRAX
- source of yield include revenue from AMOs & RWAs and will target the Fed's IORB rate as its base rate (~5%), up to a ceiling of 10%

Source
4
🤣42
🔥3
Aether Protocol, money market on Sei, shuts down.

the post cited the following reasons:
- lack of support from L1 (Sei)
- lack of DeFi expertise on Cosmos
- failed Sei mainnet had negative effects on ecosystem branding

Source

Ian’s thoughts:
- disagree with point 2. Some of the smartest builders out there are building great defi protocols on Cosmos.
- a blanket statement like that is unfair when they’ve failed to launch a simple money market.

- one statement from the post rightly highlights Cosmos’ biggest problem but ends with the wrong conclusion (imho):

A big part of our customer acquistion strategy was outreach to EVM users, and by far the biggest single piece of feedback was: “Why?” Why would an EVM user download a new wallet and bridge to the Cosmos to use DeFi, when they’ve got Uniswap, Pendle, Aave, Maker, and Frax? There is a reason why the Cosmos has been unable to secure more than 2% of DeFi market share — DeFi here just isn’t good enough.”
👍3
Base L2 suffered outage for ~40mins

Source