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Fastest growing lending protocols, based on 7d growth (%) in active loans:
ICYMI: In December, Bitcoin miners earned $26m from transaction fees and $788m from newly issued BTC.
Bitcoin's security budget = miner revenue = transaction fees + newly issued BTC.
Bitcoin's security budget = miner revenue = transaction fees + newly issued BTC.
💡📊 HAVING A CHAIN ECOSYSTEM DASHBOARD ON TOKEN TERMINAL = UNFAIR ADVANTAGE
Why?
The chain gets 24/7/365 data-driven:
🔹 stakeholder reporting (accountability)
🔹 app ecosystem visibility (growth marketing)
🔹 progress monitoring (product analytics)
Case example: @base 🔵
Why?
The chain gets 24/7/365 data-driven:
🔹 stakeholder reporting (accountability)
🔹 app ecosystem visibility (growth marketing)
🔹 progress monitoring (product analytics)
Case example: @base 🔵
ICYMI: A daily active user on @OpenChat spends approximately 10 minutes per day on the app.
Key takeaways:
🔸Daily active users (DAUs) are trending up. The DAUs on OpenChat have increased by ~7x since Feb '24, from 2k to 15k.
🔸User time spent on the app is trending up. Total time spent on the app each day has grown from 300 to 2300 hours since Feb '24. This means that an individual user spends on average ~10 minutes on OpenChat each day.
🔸Incentives drive usage. The uptick in DAUs in June '24 was partly a result of the CHAT rewards program. These incentives have converted many occasional users into daily users.
Key takeaways:
🔸Daily active users (DAUs) are trending up. The DAUs on OpenChat have increased by ~7x since Feb '24, from 2k to 15k.
🔸User time spent on the app is trending up. Total time spent on the app each day has grown from 300 to 2300 hours since Feb '24. This means that an individual user spends on average ~10 minutes on OpenChat each day.
🔸Incentives drive usage. The uptick in DAUs in June '24 was partly a result of the CHAT rewards program. These incentives have converted many occasional users into daily users.
ICYMI: Natively minted USDT supply on Aptos is up from $130m to $340m during Dec '24.
Which @Aptos apps will these stables flow to? ✍️
Which @Aptos apps will these stables flow to? ✍️
sounds like @RobinhoodApp is going to launch an @echodotxyz competitor...?
ICYMI: ~25k users on @OpenChat have submitted a proof of unique personhood via @DecideAI_.
This means that ~10% of OpenChat's users have been confirmed to be unique human users.
This means that ~10% of OpenChat's users have been confirmed to be unique human users.
even protocols with "immutable code" are **dynamic businesses**
if you extrapolated UNI's future revenue potential as fees * 10-25% take rate
you would have missed out on UNI's new value capture mechanism on the Unichain
if you extrapolated UNI's future revenue potential as fees * 10-25% take rate
you would have missed out on UNI's new value capture mechanism on the Unichain
OWNERSHIP & CONTROL OVER FEE STREAMS DOES ACTUALLY MATTER
one example
afaik, paradigm has invested in both COIN and OP
✅ if Ethereum scales mostly via Base (COIN) & The Superchain (OP), it’s all good
BUT
❌ if Ethereum scales mostly via Arbitrum (ARB), it’s not great
nor does it comfort paradigm's LPs that Arbitrum (ARB) is “extremely Ethereum-aligned & part of Ethereum”
paradigm’s investments cannot capture revenue (and thereby upside) from fees paid in the Arbitrum (ARB) ecosystem
one example
afaik, paradigm has invested in both COIN and OP
✅ if Ethereum scales mostly via Base (COIN) & The Superchain (OP), it’s all good
BUT
❌ if Ethereum scales mostly via Arbitrum (ARB), it’s not great
nor does it comfort paradigm's LPs that Arbitrum (ARB) is “extremely Ethereum-aligned & part of Ethereum”
paradigm’s investments cannot capture revenue (and thereby upside) from fees paid in the Arbitrum (ARB) ecosystem
Over $6 billion has been bridged from Ethereum L1 to Base L2.
Some see a nice trendline, others see billions of idle assets that should be put to more productive use.
Some see a nice trendline, others see billions of idle assets that should be put to more productive use.
Aave currently applies a 20% take rate on fees (interest paid by borrowers).
In November, borrowers on Aave paid $50m in interest --> $10m to the Aave DAO (revenue) and $40m to the lenders.
In November, borrowers on Aave paid $50m in interest --> $10m to the Aave DAO (revenue) and $40m to the lenders.
want to make one thing clear for all who have followed this "debate" on the TL
all interactions we've had with @buffalu__ and the Jito team have been 💯 & we're excited to show more Jito data on TT
they're building a rocketship & with that comes public scrutiny (= who earns what, when, and how?)
the TT feed is full of similar tweets re Base, Uniswap, Aave, Ethereum, etc.
let's not let a tiny bit of accounting ruin the collective BUIDL momentum!
onwards & upwards! 😁🫡
all interactions we've had with @buffalu__ and the Jito team have been 💯 & we're excited to show more Jito data on TT
they're building a rocketship & with that comes public scrutiny (= who earns what, when, and how?)
the TT feed is full of similar tweets re Base, Uniswap, Aave, Ethereum, etc.
let's not let a tiny bit of accounting ruin the collective BUIDL momentum!
onwards & upwards! 😁🫡
⏹️@eigenlayer builds products that enable Ethereum L1 validators to earn more revenue.
Is EIGEN = ETH?
No, not on Token Terminal.
Maybe on some other data platform.
EigenLayer is a separate business with its own PnL.
Is EIGEN = ETH?
No, not on Token Terminal.
Maybe on some other data platform.
EigenLayer is a separate business with its own PnL.
🦋 @gauntlet_xyz has built products that allow LPs on Morpho to earn more revenue.
Is Gauntlet = Morpho?
No.
Gauntlet is a separate business with its own PnL.
Is Gauntlet = Morpho?
No.
Gauntlet is a separate business with its own PnL.
Ethereum L2s
1) try to expand the revenue potential of the Ethereum L1 by enabling new uses cases & demand
2) try to build $ sustainable businesses that charge users more over time (replace VC funding w/ revenue)
thing is, you can say the same about MOST adjacent businesses
1) try to expand the revenue potential of the Ethereum L1 by enabling new uses cases & demand
2) try to build $ sustainable businesses that charge users more over time (replace VC funding w/ revenue)
thing is, you can say the same about MOST adjacent businesses
fwiw
we focus on each protocol as a *business*
tt: "you're building a lending protocol?"
team: "yeah, we're on 5 L1s (all technically a bit different), we're most aligned w/ XYZ, & we also have our own L2 + some offchain components"
tt: "got it, still a lending marketplace"
we focus on each protocol as a *business*
tt: "you're building a lending protocol?"
team: "yeah, we're on 5 L1s (all technically a bit different), we're most aligned w/ XYZ, & we also have our own L2 + some offchain components"
tt: "got it, still a lending marketplace"
I either get fired or promoted tomorrow, no in-between