jakiro
Author: David Hoffman, Bankless; Compilation: Songxue, Bitchain Vision Realm
Starting with the most pessimistic emotions in 2023, we ended with the most optimistic expectations we have seen.
When we bring new expectations into the bull market in 2024, it is time to pay attention to some key investment themes that are about to shape the new year.By understanding these six narrative elements that will occupy the dominant position in the next few months, maintain a leading position in the investment field!
1. Re -pledge and liquidity re -pledge tokens (LRT)
The re -pledged meta information has become more and more loud, and Eigenlayer has not even entered the main network.Today, the funds deposited in the EigenLayer contract have exceeded $ 1 billion, and the competition for an important participant in the Eigenlayer ecosystem is very fierce.
Therefore, the LIquid Stake Token (LST) war is about to restart again, but this time it will be the LRT war.LIquid Re -mortgage to tokens will have all the income of the native ETH mortgage and additional income generated by adding the re -mortgage network.Why are some people be satisfied with 5% LST income, and they can get more benefits through LRT income?
What are you asking about LRTS?They are like LSTS, but they contain income generated by Eigenlayer.EIGENLAYER makes AVS (active verification service, that is, EIGENLAYER network). All these services will generate some benefits or fees for those who pledge their ETH.Those who pledge may pledge their ETH to multiple AVS to maximize their pledge of ETH’s productivity and increase their benefits.
Having said that, it can be safely and efficiently executed to provide services, which will be valuable for non -technical users like me, because we know that others can do better.And this is exactly the land of LRTS.LRTS summarizes the deposit of users, pledged them to the EIGENLAYER network, captured all the income, and passed them to the depositor.
Quite attention!However, in addition to basic practicality, I think that one of the reasons for LRT in 2024 will set off a boom is that the latest airdrop wave has begun.In this tide, the LRT project is “the beauty of the two”, which is a double airdrop hunting opportunity.For example, Swell is currently providing their “Pearls”. I guess this is the position of the final Swell tokens. In addition, there are EIGENLAYER points. I think this is also a placement.
Frankly speaking, I think that Eigenlayer is preparing to become one of the largest airdrops in history, and competition for Ethereum leading LRT tokens will be as fierce as leading LST tokens.
It is true that I am not familiar with all LRT strategies of all current LRT teams.However, there are two projects that caught my attention, because I have close contact with these two teams, either as an angel investor, or investing through the Bankless Ventures. They are Puffer and Swell mentioned earlier.
It is worth noting that Puffer has a unique advantage in cooperation with SGX -additional punishment protection -as an extra defense layer for capital losses.This mechanism, plus the cooperation between Puffer and Justin Drake on Smoolhing Commissions and the cooperation with Flashbots’s Andrew Miller on Remote Attestation, which enables the project to release other LRT efficiency and opportunities that may need to catch up.
As for SWELL, it was a LST project, but turned to liquid pledges when seeing the changes in the trend.When Eigenlayer opens the deposit channel, Swell’s ETH TVL is close to the forefront in its system.Swell now ranks first in Eigenlayer’s LRT project and ranks second in LST deposits, second only to Lido.
However, there are some projects worth paying attention to, including:
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David Hoffman Rio Network
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Etherfi
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Renzo Protocol
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Kelp dao
Use this excellent Eigenlayer Dune instrument panel to track the dynamics of its LRT battlefield at any time.
two,Solana
The current meta -information includes “Bitcoin, Ethereum … and solana”?
Solana is currently affected by speculation.This happens when a tokens rose 900%within a year.This attracts the capital and attention of venture capital companies, and at the same time makes those communities that believe it in it again before it becomes more confident.
To be sure, the launch of Jito has just triggered the summer of Defi, which is like Ethereum 2020. Now it is clear that the application layer of the network has risen from the ashes of the 2022-23 bear market.
As Solana’s SOL has just entered the top 5 encrypted assets, everyone is paying attention to whether Solana can achieve all the biggest supporters that they think it can do: in the upcoming bull marketPlace of applications.
Suppose that Solana will exert its potential here.In this case, it will need to attract more novel founders. They build more novel applications, not just the brighter versions of the same thing that Ethereum already owns.Solana will need to develop new applications that have never been seen before before, which are uniquely opened by the attributes provided by the network.
DEPIN seems to be an early outstanding competitor here.However, I think there is no conclusion on whether there is any substantial content here.However, we will see that in any way, the industry deserves close tracking at the same time.
At the same time, a large number of non -token SOLANA protocols still need to invest in Ting currency in 2024, which means that at least before they do this, the hype and attention of Solana will continue.It remains to be observed to keep people’s attention after the end of the DEFI Summer’s DEFI Summer.
Inside, Solana’s attention has turned its economy.As some of the most tricky problems of Solana become the past, it is time to turn to the next most easy goal in the project, that is, its local expense market and overall economic structure.Can Solana solve its economic problems?Only time can prove everything, but its community prefers the opportunity it brings more than ever.
Three, games
In the near future,The game seems to be the most breakthrough category in encrypted applications.Mainly because we know that many highly anticipated games are currently under development, and some of them will be listed in 2024.
If the game is interesting, players will play.If game developers know what they are doing, they will introduce encrypted elements as needed, instead of using them as overwhelming elements of the game.The game content itself is a huge industry. Through the game field, encryption will be able to obtain huge distribution channels.
The best point in the contemporary encryption game industry is that it is getting rid of the clear attention of encrypted native players.Many new games are developed for those who are unknown to cryptocurrencies.
There are currently about 3.2 billion players in the global gaming industry.If we can create a game that attracts people who do not care about encryption, it will be one of the earliest breakthrough examples that encrypt people who are not interested in encryption.
At the same time, the game ecosystems such as Immutable and its IMX tokens can be regarded as exciting representatives in this field.Immutable is constructing a Polygon -based ZKEVM chain designed for the game. At present, its valuation is higher than Arbitrum!
Fourth, DA war
Data availability war also began. The starting point was TIA’s two consecutive punch with a valuation airdrop of $ 2 billion, and then a chart that would only rise, reaching 14 billion US dollars of FDV.
So why are everyone obsessed with data usability now?
It can be said that it can be assumed that DA (data usability) is the width layer of the web3, and the cheap DA layer will change the encryption from slow, expensive to fast, cheap and sufficient, and will not sacrifice decentralization in the process.Indeed, DA is the main bottleneck, which hinders the chain unlocking the brake at the level of resource cost and throughput.Therefore, any DA chain that can meet these needs may see long -term sustainable value flows in the encrypted economy.
I am paying attention to EIGENDA’s upcoming launch. This is Eigenlayer’s first AVS to launch, and it will also become the first source of additional benefits of the aforementioned LRT token.
EIGENDA’s construction is different from Celestia and has some unique network attributes.Because EIGENDA is protected by the pledged ETH instead of L1, this makes EIGENDA’s DA attributes closer to Ethereum, reducing some security assumptions, and may make it more DA that still needs to provide more DAs that Ethereum L1 can provide.Rollups is easier to choose.
Celestia and Eignda are currently two main competitors, but others have also joined the DA war.For example, Near adds a DA function on its chain. Due to the fragmentation research of Near in the past few years, this function also has some unique attributes.I am convinced that I have n’t heard of it, or secrets. They will be listed in 2024 because the bounty of DA competition is so big.
Five, parallel EVM
Solana triggered the urgency of optimizing the virtual machine for Web3.I recently asked Solana’s founder Anatoly Yakovenko, “What is the most critical component of Solana?” He replied, “The parallelization of SVM.” This unique feature introduced by Solana can handle multiple transactions at the same time, as longThese transactions do not involve the same state of each other.
This is a major advantage of SVM and a major weakness of EVM.Now, the parallel virtual machine war is on the Ethereum L2 and the new L1.For example, the Eclipse project is using SVM and constructing a Rollup based on Ethereum (using CELESTIA for DA), and it is not the only project to do.
Monad is another project that has been committed to EVM for a period of time.It is not easy to rebuild EVM from a single thread to multi -thread, but the return on successful execution is huge.Imagine the scale, speed, and low cost of Solana, but have an Ethereum ecosystem.Monad’s goal is to achieve the EVM bytecode equivalent, which means that any code fragment written in the EVM environment can immediately migrate to Monad without cost.
“Solana’s speed but Ethereum distribution” strategy is not only recognized by Monad and Eclipse.This strategy is also adopted by SEI, as they have recently announced that they have transformed into parallelized EVM chains.
Because Monad has not yet launched, SEI has always been the only way to obtain parallelization EVM narrative exposure, so its token has been appreciated accordingly.
Although Monad seems to have intended to maintain an independent L1, I predict that Monad EVM will become the goal of EVM alternative on Ethereum L2.If Monad is open source, it will become a very hot software in Web3.For Monad, it is also a feasible strategy to build an Ethereum L2 outside its independent L1 to ensure that it is possible to fill as many competitive patterns as possible.
In November last year, I had a dialogue with Ansgar. He expressed his interest in finding a new VM specification for L2. This specification is more optimized to implement L1 EVM to L2 than simply.The process of thinking is that if we can find a more optimized L2 virtual machine, we can encourage L2S to use it as the standard, not the traditional (and slow) EVM.This transformation needs to be coordinated, but it will greatly improve the Ethereum L2 field.
Six, airdrops
My very conservative forecast for 2024 is that 2 billion US dollars will be airdropped into the hands of users.Eigenlayer can even achieve this by itself.
The airdrop was not new in 2021, but the traceability UNISWAP airdrop really triggered the meaning of the airdrop and how applications used the airdrop.To this day, some of the largest projects in this field have been fine -tuning its token issuance plans for many years.
Well, it’s time to take action.For example, both StarkNet and Layerzero have recently confirmed the upcoming token. I expect the two to occur in the first quarter of 2024.
These airdrops will force others to speed up their tokens.Once a new round of air investment season begins, its comprehensive momentum will be difficult to stop.After all major projects launch their tokens and hand over billions of dollars to users, the subsequent projects will quickly develop their “application” and release their “tokens” to welcome this wave.
Once this happens, you will know that we are approaching the peak of the market price, and it is time to start selling instead of buying.Be careful here.The trap of the airdrop may attract most of your capital and maximize the income, but this is likely to happen to your rational withdrawal of capital.
For example, Alameda initially started operations through zero -risk Bitcoin arbitrage between exchanges. With the advancement of the bull market, the full leverage was eventually leverage on the garbage currency with poor liquidity.What you want to do is the opposite.You want to start with a full leverage on the garbage currency with poor liquidity, and then sell it into US dollars, Bitcoin, Ethereum and other small risks during the promotion of the bull market.
