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THE DAILY INDEX

Technology, AI, software, security, crypto and business

MARKETS & BUSINESS

TLDR Crypto

INTRODUCING PULSE: THE OPEN HEALTH NETWORK AND WEARABLES

Pulse is launching a crypto-native health network and wearable to enable users to encrypt health data onchain and monetize access to it. The health data market is expected to reach $540 billion in the next 10 years, with established players like Whoop and Oura not offering users monetization of their data. Pulse plans to support an ecosystem of apps leveraging user health data. It will initially release 10,000 genesis devices.

THE VERTICAL INTEGRATORS: ETHENA, HYPERLIQUID, AND UNISWAP

Major DeFi protocols like Ethena, Hyperliquid, and Uniswap are launching general-purpose chains and L2s focused on their strengths. Ethena uses USDe for capital efficiency, Uniswap capitalizes on its DEX dominance and MEV capture, and Hyperliquid utilizes its derivatives trading ecosystem. Vertical integration suggests that apps, not chains, control user relationships, potentially threatening traditional general-purpose without clear differentiation. App-centric chains may be better positioned to capture more value from their existing user bases than undifferentiated L1s.

DEMYSTIFYING THE CRYPTO X AI STACK

This post outlines a vision for the convergence of crypto and AI centered on the emergence of an “Agentic Web” where AI agents operate with crypto rails and become the primary drivers of economic activity. There are two core segments – decentralized AI that brings crypto to AI infra and onchain AI that uses AI to enhance crypto apps – and four layers: compute, data, middleware, and applications. Crypto is predicted to become the preferred payment rail for agent-to-agent commerce.

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