chandanCrypto Applications Product Market Fit Analysis
In Crypto, there are a lot of applications that haven’t found product-market fit. But there is also a handful of applications that have a product market fit and are growing stably Here I will just explain my thoughts on which applications have Product-Market-Fit. Storage of Value (an asset that maintains or increases its value rather than depreciating)Bitcoin is the dominant product-market fit for this, followed by ETH. However, BTC has questionable long-term sustainability properties. Thanks...
chandanHow to Protect Your Crypto Wallet 95% of the Time
Always keep your private key and seed phrase offline, such as by writing them down on paper and storing them in a secure location that only you have access to. Do not save them on any device or cloud storage, as these can potentially be hacked and your wallet compromised.To further increase security, you can consider leaving out a few words from your seed phrase when writing it down, and memorizing or securely storing these words separately. This way, even if someone gets hold of the paper wi...
chandanAre Layer 2s Superior to Alt-1 for Scaling Capabilities?
Traditional monolithic execution layers rely on 1000s of block producers and non-producing full nodes, requiring a majority of them to act honestly. In contrast, layer 2s only require a single honest "Sequencer" to guarantee network integrity. This asymmetric trade-off suggests that layer 2s will consistently deliver high throughput and significant performance advantages, even when the same hardware is employed by both layer 1 and layer 2. This is due to the inefficiencies of synchronization ...
Researching Layer 1/2s, DeFi, and modular ecosystems.
chandanCrypto Applications Product Market Fit Analysis
In Crypto, there are a lot of applications that haven’t found product-market fit. But there is also a handful of applications that have a product market fit and are growing stably Here I will just explain my thoughts on which applications have Product-Market-Fit. Storage of Value (an asset that maintains or increases its value rather than depreciating)Bitcoin is the dominant product-market fit for this, followed by ETH. However, BTC has questionable long-term sustainability properties. Thanks...
chandanHow to Protect Your Crypto Wallet 95% of the Time
Always keep your private key and seed phrase offline, such as by writing them down on paper and storing them in a secure location that only you have access to. Do not save them on any device or cloud storage, as these can potentially be hacked and your wallet compromised.To further increase security, you can consider leaving out a few words from your seed phrase when writing it down, and memorizing or securely storing these words separately. This way, even if someone gets hold of the paper wi...
chandanAre Layer 2s Superior to Alt-1 for Scaling Capabilities?
Traditional monolithic execution layers rely on 1000s of block producers and non-producing full nodes, requiring a majority of them to act honestly. In contrast, layer 2s only require a single honest "Sequencer" to guarantee network integrity. This asymmetric trade-off suggests that layer 2s will consistently deliver high throughput and significant performance advantages, even when the same hardware is employed by both layer 1 and layer 2. This is due to the inefficiencies of synchronization ...
Researching Layer 1/2s, DeFi, and modular ecosystems.
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EigenLayer and LRTs have experienced similar and explosive growth, comparable to that of LSTs and LSTFi in previous months.
Currently, Lido dominates the LST market with a 71% share, followed by Rocket Pool at 9%, Binance at 5%, and others.
With the introduction of EigenLayer's restaking, there has been a decline in the Liquid Staking TVL since March 12, as many users began staking their tokens natively on EigenLayer.
Looking at the restaking space, EigenLayer's TVL has seen explosive growth. Currently, there is $14 billion worth of LST + Eth locked on EigenLayer.
In terms of TVL distribution, 65% is native Eth and 34% is LST tokens. Within the LST tokens, the majority is stETH, followed by swETH, mETH, and others.
In the LRT market, eETH dominates with a 38% share, followed by ezETH at 32%, and then pufETH and rsETH. The market share of these tokens has remained mostly stable over time, although ezETH has shown significant growth.
Final thoughts:
Currently, 1.8 million ETH is restaked on EigenLayer without LRT token representation. As LRT tokens are integrated into DeFi, this ETH is likely to be restaked through LRT protocols.
As EigenLayer's TVL increases, a corresponding growth in LRT TVL can be observed.
The TVL of LST protocols is expected to continue decreasing.
Assuming there are no security vulnerabilities, leaders such as eETH and ezETH are likely to maintain their market lead in terms of TVL due to network effects.
EigenLayer and LRTs have experienced similar and explosive growth, comparable to that of LSTs and LSTFi in previous months.
Currently, Lido dominates the LST market with a 71% share, followed by Rocket Pool at 9%, Binance at 5%, and others.
With the introduction of EigenLayer's restaking, there has been a decline in the Liquid Staking TVL since March 12, as many users began staking their tokens natively on EigenLayer.
Looking at the restaking space, EigenLayer's TVL has seen explosive growth. Currently, there is $14 billion worth of LST + Eth locked on EigenLayer.
In terms of TVL distribution, 65% is native Eth and 34% is LST tokens. Within the LST tokens, the majority is stETH, followed by swETH, mETH, and others.
In the LRT market, eETH dominates with a 38% share, followed by ezETH at 32%, and then pufETH and rsETH. The market share of these tokens has remained mostly stable over time, although ezETH has shown significant growth.
Final thoughts:
Currently, 1.8 million ETH is restaked on EigenLayer without LRT token representation. As LRT tokens are integrated into DeFi, this ETH is likely to be restaked through LRT protocols.
As EigenLayer's TVL increases, a corresponding growth in LRT TVL can be observed.
The TVL of LST protocols is expected to continue decreasing.
Assuming there are no security vulnerabilities, leaders such as eETH and ezETH are likely to maintain their market lead in terms of TVL due to network effects.
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