“Editor’s Choice of the Week” is a “functional” column of Odaily Planet Daily. In addition to covering a large amount of instant news every week, Odaily Planet Daily also publishes many high-quality in-depth analysis content. However, these articles may be hidden in the information flow and hot news, passing by you.
Therefore, our editorial department will select some high-quality articles worth reading and collecting from the content published in the past 7 days every Saturday, bringing you new inspiration from the perspectives of data analysis, industry judgments, and opinion outputs in the encrypted world.
Now, let’s read together:
Investment and Entrepreneurship
GSR: Will Solana ETF pass? What potential impact will it have on the price?
The two key factors determining the next spot ETF are the level of decentralization and potential demand. Analysis shows that if the US allows additional spot digital asset ETFs, Solana will be next.
The inflow of funds for the spot Solana ETF may account for 2%, 5%, or 14% of Bitcoin pessimistic, neutral, or optimistic scenarios.
Reference the impact of spot Bitcoin ETF on Bitcoin (2.3 times growth) conclusion as shown in the figure:
Additionally recommended: “LUCIDA: Revealing the Macro Analysis Methodology of Top Researchers in Crypto” “The Final Episode of On-Chain Smart Money Tracking: Overview of the Top 10 Ecosystem Coin Ambush Addresses” “Will it Rise or Fall in the Next Three Months? Bankless Predicts the Trends of 16 Tokens”.
In-depth discussion: Is there still a need for governance tokens?
The article proposes a four-quadrant framework for evaluating governance tokens based on the reliability of token holders’ rights and control over economic value, studying tokens in each quadrant through example cases, and finally providing recommendations for builders and investors on how to build and evaluate governance tokens.
Governance tokens can be enhanced through two main avenues: helping applications manage inherent risks in their business models; providing utility to their holders in the form of tangible economic value (such as GMX).
Whether the cryptocurrency project is new or mature, it is not too late to discover shortcomings and make changes now.
Commercialization Era of Blockchain Space, will “Fat Apps” eventually rise?
Valuable order flow is more important than order flow quantity. Applications will account for the largest proportion of total value.
Looking ahead, applications should focus on creating new types of order flow, including: creating new assets (such as Pump and memecoins), building applications for new user scenarios (such as Worldcoin, ENS), creating better consumer experiences through vertical integration, and supporting valuable transactions, such as Farcaster and Frames, Solana Blinks, Telegram and TG applications, or on-chain games.
Airdrop
Odaily’s Exclusive Interview with the Brushing Studio: Revealing the “Brushing” World of Web3
A story-style article containing unique Brushing Studio architecture and the competitive cooperation relationship between the Brushing Studio and project parties.
Meme
How to Choose Promising Meme Coins Based on TVL Changes?
The Memecoin TVL Boost Theory believes that major memecoins or a basket of major memecoins will serve as leverage bets on chain TVL.
Taking Base and TON as examples, TVL inflow = performance of major memecoins. If TVL increase can be predicted, one can hold major memecoins on that chain as a leverage bet on TVL predictions.
Growth in TVL predictions can be divided into two categories: long-term and short-term. Long-term predictions actually involve predicting the flow of TVL over multiple months. Short-term methods consider incentives programs or airdrops as short-term catalysts for TVL growth.
Ethereum and Scalability
With L1 and L2 Abound, What Other L3 Projects are Worth Watching?
The overall idea of Layer 3 is to further expand Ethereum by creating highly customizable, cheap, fast, and interoperable chains with varying degrees of security and decentralization. Examples of Layer 3 frameworks include Arbitrum Orbit and zkSync Hyperchains. The article briefly introduces Degen Chain (DEGEN) and Sanko (DMT).
Additionally recommended: “2024 Ethereum Staker Report: What Issues Independent Stakers are Concerned About?”.
Multi-ecosystem
Blinks Fantasies: Exploring the Most Promising Application Scenarios from the Ground Up
“Immediacy” and “Facilitating the Purchase of Value Information” are the real battlefields of Blinks.
Blinks are effective in reaching new users, converting new users, and engaging old users.
Potential use cases include investment, consumption, community governance, decentralized socialization, and blockchain games.
Additionally recommended: “Exploring 50+ Innovative Use Cases of Solana Blinks”.
Beginner’s Guide: How to Navigate the TON Ecosystem
The article introduces wallets, cross-chain bridges, CEX, some on-chain applications, and believes that the gameplay of TG APP, transfers, transactions, games, etc., can all be completed in TG, which is a more user-friendly environment compared to other public chains.
To Master the TON Ecosystem Game Alpha, You Need These Tools
This article includes setting up wallets, finding popular TON ecosystem games, and methods for running multiple game simulators.
DeFi
As Shitcoins Continue to Decline, It’s Time to Focus on DeFi Again
The sharp drop in shitcoin prices by 30% is due to insufficient demand-side growth and excessive supply-side growth, with a continuous wave of unlocks.
It is the right time to focus on DeFi because PMF products are stepping out of the bubble period— from a business perspective: having a mature business model and revenue model, top projects have moats; from the supply side: low emission, high circulation ratio, small scale of tokens awaiting unlocks; from the valuation perspective: market attention and business data deviate, valuation levels fall into historical lows; from the policy perspective: the FIT 21 bill favors the compliance of the DeFi industry and may trigger potential mergers and acquisitions.
The article further analyzes Aave, Uniswap, Raydium, Lido, GMX.
Will the RWA Track Experience an Explosion after the Launch of the Ethereum ETF?
Key directions: government bonds, credit, real estate. Private RWAs are still largely undeveloped. Regulatory and poor value accumulation pose significant risks.
Additionally recommended: “RWA Narrative Renaissance: Massive To B Business, Who’s Riding the Wave?”.
GameFi, SocialFi
Exploring the Future Development of Chain Games from the Perspectives of VCs and Builders
If the technology is strong, consider first decentralized casual games based on a social platform.
If the operational capabilities are strong, consider first centralized GameFi casual games based on a social platform, with TON preferred.
It is not recommended to invest in/make large-scale 3A chain games targeting Web3 users; this is a pitfall.
Can the $1 Billion Social Leader Farcaster Become the Next Bull Market Hotspot?
The total number of users of Farcaster has reached 540,000, with daily active users soaring from 2,000 at the beginning of the year to the current 56,000, achieving over 28 times growth.
Farcaster protocol data is stored in an on-chain and off-chain hub, where developers can choose to run hub nodes themselves or use third-party service providers like Neynar to access data. All this data is permissionless, and based on this available data, developers can build various clients and applications, greatly enriching the Farcaster ecosystem and innovation space.
Users can track the progress of the ecosystem through the decaster website. The article also introduces some highlight projects: WrapCast, Jam, Clubcast, BountyCaster, AlfaFrens.
Built for a new generation of attention merchants, encrypted products are moving closer to SocialFi.
Web3
Opinion: Web3 Needs Mass Admission, Not Mass Adoption
Crypto has boundaries. All of its features (privacy, decentralization, etc.) derive from its core value—permissionlessness, which is not something that most people on Earth can use. We think there are no new users now because the market is about to reach its actual TAM limit.
Stock markets have never been an issue; high-frequency users are. The essence of Crypto’s growth is the process of cultivating high-frequency and large users. What Crypto/Web3 needs to be clear about is “let them come to make money,” inviting the “merchants” from the world to try to make money here, under the condition of learning the rules of Crypto. The way they make money is by engaging in games involving money flow (trading, staking, borrowing, etc.), everything revolves around this logic.
Web3 Mini Programs? Understanding MetaMask Snaps
The number of available Snaps listed on the official website is actually not that many. As of June 2024, there are at most 68. Due to understandable security considerations, a basic Snap can’t do much. Most of its functions require the necessary permissions, so Snaps need to request relevant permissions from users when installing. Available permissions include lifecycle, transactions, signatures, CRON, etc. Compared to the flourishing Web3 ecosystem, the currently available Snaps are pitifully few.
According to the classification on the MetaMask official website, they can roughly be divided into 4 types: account management, interoperability, notifications and chats, security.
For most MetaMask users at present, Snaps are not yet a particularly essential feature, and MetaMask likely needs to do more work on how to promote it more effectively. But in any case, it is at least a product built by a group of passionate developers who want to solve real problems, rather than a scam initiated by a group of financial experts.
A Week of Hot Topics Recap
In the past week, the governments of the United States and Germany transferred Bitcoin; Mt.Gox has officially begun compensation to some creditors in the form of BTC and BCH; Japanese creditors have received Mt.Gox compensation, with the amount of compensation being 13% of the holdings in the year; the market has experienced a major dip; Bloomberg: Mt.Gox, government, and miner sell-offs have caused Bitcoin’s decline, while a potential policy shift by the Federal Reserve may reverse market sentiment.
In addition, from a policy and macro market perspective, the SEC has sued ConsenSys, accusing MetaMask of engaging in securities issuance and sales and acting as an unregistered broker; a US judge has dismissed SEC allegations against Binance BNB secondary sales and Simple Earn, approving other charges to proceed; the SEC has returned the S-1 form to the ETH spot ETF issuer and requested revisions to be submitted by July 8.
In terms of opinions and voices, Glassnode: Volatility continues to historically compress, and there may be greater fluctuations in the future; Matrixport Research: Summer consolidation coupled with “market selling”, suggests holding BTC options until the favorable outcome of the US election is realized; Arthur Hayes: Looking back on the cyclical rules of the past century, Bitcoin is about to enter a macro turning point; Galaxy Research Director: Repayment of Mt. Gox will not have a significant impact on Bitcoin prices; Andrew Kang: Extreme Bitcoin pullback to the $40,000 range may be seen; German lawmakers call for the government to stop selling Bitcoin, as this move may affect the stability of the crypto market; Casey: Runes and inscriptions will have programmability similar to Bitcoin; Vitalik Buterin: Crypto regulation has led to “anarchy”, where honest crypto developers are pushed to the brink; Vitalik discusses methods to provide faster transaction confirmation times for Ethereum users, designating the route as Epoch and slot; Vitalik: Predictive markets and Community Notes are becoming the two flagship social cognitive technologies today; Sun Yuchen: This year’s goal is to achieve $1 billion in protocol revenue for Tron TRON; Starknet founder: Future airdrop rounds reserve about 4 billion STRK; friend.tech: Community feedback has been heard, FRIEND will not migrate from Base; STIX founder: The fair value of the locked state ENA off-exchange should be discounted by 70%; in terms of institutions, major companies, and top projects, the controversy over the high expenditure in the first half of 2024 in the Polkadot Treasury Operations Report has sparked controversy (Polkadot official response); Telegram introduces the ability for channel owners to publish paid photos and videos, which users can purchase with Stars; Blast launches a governance system and initiates the first proposal “Enable Points for BLAST Holders”; Blast announces the detailed distribution of the second phase airdrop of points, distributing 100 billion BLAST; Lido launches a community staking module testnet; Notcoin plans to launch a trading bot feature to support token trading on Telegram; Ava Labs launches the Avalanche Inter-Chain Token Transfer ICTT scheme; ZKsync introduces Elastic Chain; marginfi will launch mrgnswap, allowing users to leverage long/short any Meme tokens; Aevo announces the launch of the automated trading Vault “Aevo Strategies”; WEL L3 opens to controversy; from a data perspective, Vitalik Buterin’s net worth is estimated to be at least $830 million… Well, it’s been a tumultuous week.
Attached is the series “Editor’s Choice of the Week” portal.
Until next time~
