ERC721A, a.k.a., devs don't plan on sticking around
ERC721A received much attention as part of Azuki’s launch as they dramatically reduced batch mint prices (reduction of ~70-90% for batches between 10-100 NFTs). Don’t get me wrong, it was a pretty nifty trick. It sounded like magic. But is it really all that? Some people are probably already aware, but the implementation optimizes for cheap txn costs during minting but stores ownership data in an inefficient manner, drastically increasing the costs of transfers (an increase of 182.85%). Any i...
ERC721A, a.k.a., devs don't plan on sticking around
ERC721A received much attention as part of Azuki’s launch as they dramatically reduced batch mint prices (reduction of ~70-90% for batches between 10-100 NFTs). Don’t get me wrong, it was a pretty nifty trick. It sounded like magic. But is it really all that? Some people are probably already aware, but the implementation optimizes for cheap txn costs during minting but stores ownership data in an inefficient manner, drastically increasing the costs of transfers (an increase of 182.85%). Any i...
LSD Insurance, Illustrated
This article is a visual overview of the insurance protection behind three popular Liquid Staking Derivative Tokens (LSDs):Lido’s stETHRocket Pool’s rETHStakewise’s sETH2It aims to inform you about how the policies work and how much protection each pool has relative to each other. You can also skip ahead to the summary at the bottom. The data and policy information gathered for this write-up were accurate as of 31 July 2022.BackgroundYou can find my notes here for a little more background on ...
LSD Insurance, Illustrated
This article is a visual overview of the insurance protection behind three popular Liquid Staking Derivative Tokens (LSDs):Lido’s stETHRocket Pool’s rETHStakewise’s sETH2It aims to inform you about how the policies work and how much protection each pool has relative to each other. You can also skip ahead to the summary at the bottom. The data and policy information gathered for this write-up were accurate as of 31 July 2022.BackgroundYou can find my notes here for a little more background on ...
Background on Liquid Staking Derivatives
1. What is Ethereum Staking?Many are familiar with 'staking' - where you deposit tokens and gain a reward for locking your token up. But why are they paying you? It is essential to understand the source of yield. Some apps pay you to lock up your tokens as that reduces selling pressure (e.g., 'stake' $CAKE for more $CAKE). In proof-of-stake networks, validators provide a stake of tokens as collateral while providing a service to the network. They are paid when they do thei...
Background on Liquid Staking Derivatives
1. What is Ethereum Staking?Many are familiar with 'staking' - where you deposit tokens and gain a reward for locking your token up. But why are they paying you? It is essential to understand the source of yield. Some apps pay you to lock up your tokens as that reduces selling pressure (e.g., 'stake' $CAKE for more $CAKE). In proof-of-stake networks, validators provide a stake of tokens as collateral while providing a service to the network. They are paid when they do thei...
