Author: Armonio, AC capital

Summary:

In this article, we present two interrelated narratives: the first outlines the technical evolution of DeFi liquidity, while the second highlights the transformative impact of on-chain barter from an economic history perspective. Together, our goal is to demonstrate that a profound DeFi revolution is coming, it just takes a little more patience. Those visionary builders who stick with it will eventually be rewarded by the market.

We carefully tracked the development of the decentralized exchange (DEX) market to illustrate that the emergence of on-chain barter is no accident, and on-chain barter is a real game changer. It represents an important chapter in the history of Web3 builders. Achieving its functionality required a lot of innovation and improvement, not only within DEX, but also at the underlying infrastructure layer.

Author: Armonio, AC capital
Twitter: @armonio_liang

Human beings chase popularity, and popularity creates value. This is the history of mankind that keeps repeating itself.
Tulip bubble = popularity + limited supply.
This is the most famous and earliest super meme in mankind. Entering the 21st century, the information age has gone from Web 2.0, which was characterized by unlimited replication, to Web 3.0, which is characterized by limited information.
Information can spread on the Internet at the speed of light, and the entities carrying popular value have suddenly transformed from offline bags, luxury watches, and luxury cars into a string of non-replicable data online. Payment scenarios are accompanied by mobile terminals in every corner of the world. Bong! The Meme explosion gave rise to a bizarre Meme world.

Author: armonio
2024 is a crazy year for the digital encryption market. Among them, the BTC elephant dance is the craziest among many asset classes. In the past month, BTC has increased by more than 50%. What is the mechanism behind such crazy market performance? Can the madness continue? Let’s dive in and take a closer look:
The price increase of any asset is inseparable from the reduction of supply and the increase of demand. Let’s break it down into the supply side and the demand side and analyze them separately.
As BTC continues to be halved, the impact of the supply side on BTC prices continues to weaken, but we still have to formally observe potential selling pressure:

Introduction
In 2023, ZK and AI projects will gather together at the hackathon. DeFi is no longer a development hotspot. However, Honeypot Finance stood out and won the award at the ETH-Beijing hackathon with Batch-A2MM. After that, it quickly took root in Berachain’s unique innovation soil, starting from the product side and user side. Honeypot Finance is a positive flywheel. This article will give you an in-depth understanding of Honeypot Finance.
1. Berachain’s innovative soil
Berachain is an L1 public chain built on the Cosmos SDK and compatible with EVM. It adopts an innovative new consensus mechanism - Proof of Liquidity (POL: Proof of Liquidity) and an innovative Tri-token three-token economic model.

Abstract: Culture is the foundation of the value consensus of digital cryptocurrency, and the spread of value consensus is inseparable from the own culture of cryptocurrency. Value consensus is Meme. Cryptocurrencies cannot escape the Meme phenomenon. BTC is the earliest and largest Meme. BTC reprinted its core culture through a news piece and directly implanted the culture into the genesis block, ultimately achieving the bootstrapping of BTC.
Restoring the tradition of on-chain culture and decentralized culture is a feasible way to return to the spontaneous bootstrapping of BTC. The emergence of Ordi and Sats inscriptions, inscription code information is directly implanted into the BTC community, is the spontaneous starting point of the BTC Renaissance. The integration of encryption culture and technology, the conscious realization of the binding of encryption assets and culture through content on the chain, will be one direction of the development of Inscription 2.0.

Infinitas丨Co-produced by AC Capital
Main writer: Xuan Rui丨0xDragon888
Edited & Reviewed by: Echo | echoindahouse
Director: Hong Shuning

This article will combine the new normal brought by Ordinals to the BTC ecosystem, look at the current challenges of BTC expansion from the perspective of asset issuance, and finally predict that RGB & Taproot Assets with asset issuance + application scenarios have the potential to lead the next narrative.
1. Ordinals ecology explodes: opening up new possibilities for Bitcoin asset issuance
2. Ordinals brings a new normal: competition for block space, UTXO expansion
3. The evolution and challenges of BTC expansion from the perspective of asset issuance

Preface
An option is an option, a rights contract between the buyer and seller that agrees on delivery conditions and delivery categories. The emergence of smart contracts allows contracts to be automatically executed without human intervention on the chain. The conditions and processes for contract execution are clear and transparent, making it a good environment for options operations. Since the DeFi summer of 2020, countless teams and projects have begun to advance towards decentralized options. Over the past three years, the development of the industry has once shown a flourishing situation. Whether it is accounting infrastructure, general options, or market-making algorithms, great progress has been made.

Written by: Xuan Rui|0xDragon888

Abstract (TL;DR)

‍‍‍‍‍(1) Understanding intention: top-down Anoma and bottom-up TG Bot

(2) In-depth intentions: AI is the New Ui: Complex commands VS simple intentions

(3) Navigation intent: Conceptual evolution, interaction paradigm, current situation, and trends of Intent

(4) Guidance Intent: Challenges and Prospects of Web3 Interactive Intelligence

In June, the official website of Paradigm published an article "Intent-Based Architectures and Their Risks", which brought the concept of Intent (intent) to the public for the first time. The protocols and infrastructure related to intentions developed rapidly, and became the standard at the ETHCC conference in July. A topic that cannot be avoided in the encryption world.

core ideas

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1. Digital encryption ecology and traditional finance need each other. Although the infrastructure is incomplete, the joint surfaces are not completely consistent. Combining the two can still solve practical problems.

2. The mere introduction of blockchain technology cannot solve the fragmentation of judicial power. RWA lending business currently does not bring the advantages of trustlessness into traditional finance, but instead transfers the default risk of traditional finance to the blockchain. In the context where trust is not required, some projects try to solve industry difficulties through multi-party trust. This is a rare business innovation.



(Author: Vincent @thecryptoskanda; Xuan twitter: @lvxuan147)

Sui's official website has been online for nearly a month. Putting aside the boring route dispute with ETH Maxi, as the most anticipated public chain based on the Move language and the most anticipated Non-EVM Layer1 public chain, Sui has received a lot of criticism from public opinion.

As a long-term observer of Sui and an investor in the ecosystem, I think we have a responsibility to honestly discuss what is happening in the Sui ecosystem. This article will discuss the current status of Sui ecology from the aspects of data, applications, events, etc.

Fundamentals on the Sui chain



Cetus is a Dex and liquidity protocol based on the Move ecosystem. It uses an algorithm similar to uniswap V3 to build a centralized liquidity protocol and a series of ancillary functions to provide DeFi users with the best trading experience and higher capital efficiency. At the same time, the unique ecological characteristics of SUI are used to create composable functions that are different from Uniswap.

01

Who does DEX serve?

The on-chain encryption trading market is a relatively small but rapidly growing market. In such a market, the biggest characteristic is that the vast majority of asset types (and are still produced in large numbers every day) are low-liquidity and low-market-capitalization assets, and the demand for price discovery is strong. In such market conditions, how to better conduct price discovery to attract liquidity is a prerequisite for the prosperity of on-chain transactions. Therefore, we believe that DEX should first serve LP.

The Sui ecosystem has attracted much attention recently, and the mainnet will be launched on May 3. On March 29, Sui officially announced the launch of the permanent test network Devx1.0. Devx1.0 will run for a long time after the launch of the main network. After nearly half a year of testing on Waves1 and Wave2, the Sui ecosystem has begun to take shape, from wallets to From cross-chain and oracle infrastructure to Defi, NFT, social networking, games and other applications, the ecological structure is clear and constantly evolving. New developers and project parties continue to pour in. As a star project on the Layer 1 track, Sui is bound to be in the market It set off quite a wave.

In order to better understand the current status of Sui ecological development, AC Capital created a panoramic map of Sui ecological 100+ projects and gave a brief introduction to representative projects.



With the popularity of Web3.0 social products, the number of its users continues to rise. However, once the airdrop ends, the number of daily active users will drop sharply. What does the project need to stay alive? Whether tokenization can truly incentivize user participation remains a mystery. Coupled with the collapse of tokens in the secondary market, do Web3.0 native applications have a foothold? How to balance the contradictory relationship between content review and decentralized social networking?

These are all issues that entrepreneurs in the Web 3.0 social field need to think about. In this article, we will discuss the nature of social interaction, the meaning, classification and characteristics, problems and optimization directions of Web3.0 social products to help everyone better understand the current situation and future of Web3.0 social products. , and provide some ideas for solving the problem of social fatigue.

Gamefi in the DeFi and NFT are creating a larger on-chain combination with huge imagination. Which gameplay method in full-chain games will be more popular and more likely to become the mainstream narrative?



Q1: What is the value of full-chain games?



KVC: Full-chain gaming is the core concept of Web3 gaming. If many data relationships still exist off-chain, this is not in line with the original intention of Cryptogame. From a macro perspective, all Web3 games should be on the chain. Full-chain games also allow developers to create games based on the characteristics of the infrastructure to enhance playability, rather than just based on the characteristics of Defi. At the same time, full-chain games can also prevent project corruption to protect consumers and users.

Divided into camps according to whether they isolate the risk of centralization, stablecoins can be divided into centralized stablecoins and decentralized stablecoins. As long as the risk is not completely decentralized, stablecoins will definitely face the default risk caused by centralization.

In an era where the threat of centralized regulation is approaching, decentralization is an important attribute of stablecoins.

Most stablecoins cannot become the base currency of the crypto world. The vast majority of stablecoins are only equivalent to commercial bills, and through the exchange of trading pairs, they perform the lending function of mainstream stablecoins.

A stablecoin mechanism must include creating its own demand scenarios, not only becoming a general equivalent (difficult for small-scale stablecoins), but also considering some unique economic activities (liquidation, high-interest bonds).

Foreword: After the Ethereum conference in Paris, Vitalik pointed out the development path of Rolls up + expansion for developers. I can't help but lament Ethereum's advanced cognition of decentralized technology. From the earlier state channel and Plasma to today's Danksharding and Rolls up, it is always at the forefront of the decentralized world. On the other hand, the isomorphic network Cosmos also released a 2.0 proposal. In the Layer 1 wave in 2021, Monolithic Chain has achieved brilliant

In the Web1 era, users can read information on the Internet. After the birth of Web2, users can publish information and speech on the Internet freely and conveniently. Anyone with a social media platform can now gain influence and have fans. However, when the traffic is blocked by the platform When monopolizing, unfair coercion ensues from creators and readers, mastering user information, exploiting creators, and monopolizing opinions and public opinion. Can the decentralization of Web3 redefine social content?

This article is a summary of the AC Capital Panel meeting.

Q1: What is the core difference between Web3’s social content platform and Web2?

A science fiction novel published by Neal Stephenson in 1992, which describes a virtual world called the Metaverse. This may be the first time that the word Metaverse appeared. After that, people began to use Metaverse to refer to the digital world, virtual reality, immersive Internet, etc. These "beyond reality" worlds.

In recent years, with the continuous development of technology, VR/AR, blockchain, 5G, AI... people have become more and more accepting of the virtual world. Big platforms have launched the Metaverse brand, and some Facebook brands have been renamed Meta. , Microsoft announced that it will build the chat and conferencing application Microsoft Teams into the metaverse, the Xbox game platform will also join the metaverse in the future, NVIDIA launched the Omniverse platform... We are witnessing a new world gradually entering our lives from the imagination of novelists.

1. The development of GameFi in the past year

In 2020, DeFi is spreading on Ethereum, and protocols such as Uni, AAVE, and Compound have established a complete financial system for the decentralized world. In 2021, the on-chain infrastructure has completed a high degree of stacking, and GameFi was born at the right time. The outbreak of Axie Infinity has made the decentralized world crazy again, and "Play to Earn" has driven Southeast Asian users' enthusiasm for chain games. The project party obtains funds by selling NFT, attracts users to enter the market, and then attracts more users to enter the market by adjusting the return cycle. In early 2022, StepN pushed this model to the peak of this bull market, and behind this carnival, GameFi’s Ponzi logic has not changed: the prosperity of the ecosystem needs to rely on incremental funds provided by subsequent users. After the market trend became bearish, due to the decrease in the number of people entering the industry, the game was unable to maintain high returns for a long time, and players gradually left the market. Although subsequent developers hope to attract users based on playability, in fact, protocols that lack investment returns cannot achieve ideal results.