Parse notes
Sponsored
The PayPal stablecoin PYUSD [4] is live on Solana. PayPal has over two decades of payments experience, and is now making low-cost, high-throughput web3 payments possible through the PYUSD on Solana launch. Learn about PYUSD [4] on Solana and start building the future of payments.
Bitcoin and Ethereum have had similar returns since the cycle bottom, raising questions about whether an ETF would provide much upside. After accounting for GBTC rotations and conversions of spot BTC to ETF, the total true net buying inflow from the BTC ETFs was $5B, which implies $0.84B in net buying for ETH based on analysis. Crypto natives' expectations for the ETF are overinflated, as Bitcoin has a better mind share within institutional investment circles while selling ETH as a tech asset is more difficult.
It is important to identify market inflection points as such moments can drive 80% of returns in cyclical markets like crypto. Significant gains can be made by strategically deploying and liquidating assets at these inflection points. Current market heuristics signal a potential bearish trend.
Scroll's "Session One" offers users the opportunity to earn "Marks" by participating in DeFi activities on the Scroll network. It provides rewards for liquidity provision on specific DEXs and lending or borrowing on designated platforms.
The revmc compiler integrates Reth and performs between 1.85x-19x on various EVM benchmarks. It does this by compiling EVM bytecode into optimized native machine code which drastically reduces the overhead associated with virtual machine layers. The full article covers how revmc works, how fast it is, and explains the future roadmap.
ZK compression uses ZK proofs to optimize data storage in blockchain systems. On Solana, it stores most account data off-chain while maintaining on-chain verification of transactions via ZK proofs. This method minimizes on-chain data, thus reducing costs, although it faces some limitations in execution.
Most of today's crypto infrastructure, including Ethereum's based rollups with preconfirmations, Solana's endgame, and modular approaches like Astria, converge to similar architectures. There are technical nuances and challenges, like the complexities of Ethereum preconfs and the risk of shorter block times and timing games. While universal synchronous composability is valuable, asynchronous composability may be sufficient for most use cases. Ultimately, practical experimentation is necessary to determine the most effective architectures.
LayerZero has introduced a "Proof-of-Donation" mechanism for claiming its ZRO token airdrop that requires users to donate $0.10 per ZRO in USDC, USDT, or ETH. This initiative aims to raise up to $18.5 million for Protocol Guild. The LayerZero Foundation will match donations up to $10 million. The approach has received criticism from some in the crypto community for resembling a forced donation.
This post compares Yuga Labs' fast growth and unclear focus across multiple brands and customer bases with Pudgy Penguins' streamlined approach, which strictly focuses on one IP and achieves greater consumer engagement and brand familiarity through targeted strategies and effective social media use.
Marathon Digital Holdings is piloting a project to heat a Finnish community (11k people) using the excess heat generated from its 2MW Bitcoin mining operations.
Tokens, which help marketplaces overcome the cold start problem and onboard supply-side participants, can be active or passive.
Symbiotic offers node operators shared network infrastructure across multiple vaults, which can accept various collateral for staking.
VC investments are seeing lower returns from early-stage crypto projects, the impact of airdrops as incentives is declining, and governance tokens tend to lack longer-term utility beyond voting rights.