• Why do you need a Crypto Index

• What token add to Index

• Envelop index benefits

The prediction mechanism allows users to vote on whether the future price of the index will be reached or not. In the current implementation, it is possible to organize a vote on the future value of the index (built on the basis of a smart wallet). The index owner can thus hedge against the risk of a decline in the index’s value by accumulating voting fees.

On the index page, the owner can launch a prediction and a poll about it. Just click the "Create prediction" button.

• specify the asset on which bets are being accepted and the amount (value) of the bets.

• target value of the index’s future price in USD.

• expiration date by which bets are accepted and after which the results can be tallied.

Before signing a transaction, the application checks the list of assets in the index to see if they have quotes in the Chainlink price oracle. If the oracle does not have a quote for a particular asset, the user will not be able to create a prediction.

Once the transaction is signed, users can begin voting.

On the index page, a voting user sees the index owner’s prediction for the future price of the index:

• true (the price will be the same as the predicted value or higher) or

• false.

The user must click one of these two buttons.

During the first voting attempt, the user signs two transactions in their wallet:

• an approval transaction for the Uniswap Permit2 contract

• the voting transaction itself.

When participating in predictions in the future, instead of the first approval transaction, the user will create a signature (an off-chain action) that will be used in the voting transaction. This signature is validated by the Permit2 Uniswap smart contract

https://github.com/Uniswap/permit2

Permit2 Uniswap is used to avoid paying for the approval transaction. The signature instead of the transaction does not require a gas fee.

Once the transaction is signed, the stake will be transferred to the voting contract address. The user will receive ERC-6909 tokens as proof of participation in the prediction.

After voting, the user will see information on the index page in the predictions section about their bet, the outcome they selected, and overall prediction statistics (how many “Yes” and “No” votes), as well as the expiration date.

In the current version of the prediction feature, you can create or participate in a prediction only once; bets cannot be changed. Only the owner of an index can create a prediction for that index.

• Bets are stored on the voting contract.

• The losing bets are distributed equally among the winners

• The bet amount is the same for everyone

Once voting on the prediction has ended, the index owner or participants can trigger a snapshot of the index’s current value. The owner does this via the resolve function, while voting participants do so by claiming their rewards (if they were correct prediction).

The first person to send a transaction to the network will trigger the prediction’s resolve process, which will query the Chainlink price oracle and lock in the current price of the index assets onchain. With each claim, the predicted index price will be compared to the actual price (locked in the blockchain). If the user correctly predicted the outcome, they receive a reward and get their stake back. If they did not, they will simply see a message in the app stating that their choice was incorrect. In this case, the user receives nothing and does not sign any transactions.

Users who correctly predict the outcome receive their rewards minus:

• the protocol fee (currently not set)

• the 1% fee charged by the index owner who created the prediction.

You can claim a reward (the total amount of all bets on the outcome that did not occur, divided among all correct participants) and get a refund only once per prediction.

If all participants voted for the same outcome within a prediction, the vote is considered invalid. Users can then get their stake back by calling the claim transaction.

The owner of an index who launches a prediction can share a link to the poll page on their social media accounts or in their articles. Each index has its own unique URL.

In the cryptocurrency market, returns are always available, but they are not constant and shift from one category or project to another. Investing in a single asset will sooner or later lead to financial losses. An index doesn't promise you ultra-high returns, but it protects against deep drawdowns and losses.

In 2026, crypto users have several ways to build a diversified portfolio, but each has its drawbacks.

Envelop offers an on-chain index with separate contracts for each user, eliminating the risks associated with a shared pool, and features smart wallet technology that makes it easy to set up with a single click.

With the Envelop Index, crypto investors don’t have to choose between CEXs and a DeFi portfolio. In this solution, each index is a separate, isolated smart contract, a “basket” that holds your assets.

How to Build Index

Let's take a look at the levels of the stack:

1. Odos is a DEX aggregator that finds the best swap path by sending trades through dozens of on-chain liquidity pools. When you set up a basket in Envelop Index (for example, 40% $ETH, 30% $WBTC, 20% stablecoins, and 10% DeFi governance tokens), Odos buys all of the items in one transaction at the best price. Your money never stays in Envelop's contract; it goes straight from your wallet to your own index basket contract.

2. The Security Model of Isolation by Design. Every index is its own smart contract. This is a planned architectural choice that goes against the "shared liquidity pool" model that most DeFi index protocols use.

It's much more profitable for attackers to target contracts holding $100,000+. In practice, a single retail investor almost never puts that amount into a single protocol.' The attack incentive doesn't exist because the attack reward doesn't exist.

The indices are based on the Envelop Protocol v2, which uses an innovative approach not previously seen in the industry.

Decentralized liquidity

The user creates a smart wallet (SW) into which they deploy the index. All smart wallets are separate contracts, and the assets held within them are isolated from one another. This approach enhances security by eliminating a single point of failure.

The owner of a SW can manage the assets stored within it.. Transferring ownership of such a wallet with assets doesn't involve disclosing any private keys. This can be done by simply transferring the SW to another address. Trading on a DEX, borrowing, or providing liquidity to any protocol is now also available to holders of Envelop’s Smart Wallet.

Information on the current collateral balance of each index is available via the Envelop Oracle API.

Why use indexes?

Initially, we focused on long-term investors who value non-custodial solutions, but over time we decided to expand the product to cater to as many users as possible. Now you can:

• simply visit the platform and review reports on assets in the indices

• request reports on the assets you are researching

• invest in a completed index

• build your own non-custodial index

• hedge your index or place a bet (Yes or No) on another index

Index Performance Display

The Envelop Oracle automatically displays the index's yield since its create, as well as providing other useful information:

1. A green fill color indicates that the index’s return is currently positive, while red indicates a negative return.

2. Index token contract

3. Assets in the index

4. Initial and current index value

5. Yield in percent

Mature assets

The primary requirement was the project's time on the market. In line with industry standards for benchmark indices, the project must have been active for at least one year following the token launch. We also prioritized high liquidity and a clean security track record to ensure assets can be traded efficiently without slippage or major risks.

Here and below, we are referring only to assets listed in the app's category index cards and presets. However, the protocol allows you to select any assets and add them to an index yourself.

Revenue-based

The second key selection criterion was the project’s ability to generate revenue. Unfortunately, it's not always possible to achieve a stable income after incentive programs are ended. At this stage, most projects were eliminated. To strengthen our position, we decided to keep only those projects that generate more than $100,000 per month in protocol revenue (as of early 2026, sourced from onchain analytics).

Compile & Deploy

In the third stage, we grouped the assets into categories.

Envelop indices can be deployed on any blockchain. We started with Arbitrum, but we strongly recommend the Ethereum mainnet, as it offers a much wider range of assets with greater liquidity and deeper market depth.

Envelop indices

Unlike its competitors, the Envelop Index doesn't issue IOUs.

The Envelop Index is a true smart wallet that actually holds the assets you have selected.

It was important to ensure a better user experience. The protocol never holds assets; they are purchased the moment the user creates an index, and it is preferable for the swap process to occur in batches rather than one by one.

Thus, our benchmark indices were established in the following categories:

1. Layer 1 Blockchains: Core blockchains providing security, decentralization, and native assets ($BTC, $ETH, $BNB, $TRX, $NEAR, $ZEC). These form the foundational infrastructure of the entire crypto economy.

2. Scaling: Layer 2 scaling solutions, interoperability protocols, and critical blockchain infrastructure ($POL, $ARB, $STRK, $IMX, $LINK, $ZRO). These tokens power faster, cheaper transactions and cross-chain connectivity.

3. DEXs: Leading DEX platforms and liquidity protocols powering decentralized trading ($UNI, $CAKE, $JUP, $LIT, $FLUID, $PENDLE). The heart of on-chain trading and liquidity provision.

4. Credit & Borrowing; Decentralized lending markets, credit protocols, and borrowing platforms ($AAVE, $MORPHO, $SYRUP, $EUL, $SPK, $SKY). Essential for capital efficiency and stable yield in DeFi.

5. Staking & Yield: Liquid staking derivatives, yield optimization protocols, and passive income strategies ($LDO, $ETHFI, $SPECTRA, $YB, $ENA, $SKY). Designed for users seeking sustainable passive returns.

6. AI & Infrastructure: Artificial intelligence protocols and decentralized physical infrastructure networks ($TAO, $ATH, $VIRTUAL, $LINK, $NEAR). The fastest-growing narrative bridging AI and blockchain.

7. Real World Assets: Tokenized real-world assets, institutional finance, and regulated digital securities ($ONDO, $CRCL, $SPY, $NVDA, $XAUt, $ENA). Traditional finance on-chain with tokenized stocks, bonds, and commodities.

How to create crypto index?

Go to the Envelop dApp, choose a pre-built portfolio or create your own, and start profiting from market growth today.

How to Build Your Own Decentralized Crypto Index in One Transaction

envelop

May 7, 2026

Envelop offers non-custodial, decentralized indices.

0 collected

Collect

Asset Correlation in Indices

Although a number of researchers have identified strong long-term correlations among cryptocurrencies ($BTC, $ETH, $BNB, $ADA, $XRP), the crypto asset market continues to evolve rapidly and is affected to both internal (the emergence of new technologies and trends) and external influences (global macroeconomic factors).

At the same time, researchers clearly identify the reasons for changes in correlations:

1. Market stress: During periods of high volatility (crises), the correlations among all risky assets tend toward one (the “contagion effect”). Unfortunately, the frequency and severity of crises only increase over time.

2. Macroeconomic factors: Changes in monetary policy (Fed rates) and inflation rates.

3. Financialization: The entry of institutional investors and the creation of ETFs for new asset classes (gold, BTC) link these assets to broader capital flows, increasing their long-term correlation with market leaders (BTC, ETH, etc.) while simultaneously reducing their correlation with assets not held by institutional investors.

Although we did not account for the correlation among crypto assets when compiling the indices, it is nevertheless important to record the current historical returns for the indices:

1. In staking, we lock up assets;

2. In indexing, we unlock assets through aggregation.

If you've deposited funds into a lending platform, that's staking. But if you've created a USDc/wETH pool, you've received LP tokens, and that's already a fully-fledged index.

That is why we at @Envelop_project have concluded that an index, as it is presented in most solutions on the market, such as the CMC20, is a sound and appropriate approach, but one that has its drawbacks:

1. It's a custodial index : you are purchasing a derivative created by someone else;

2. There are no indices for new projects: this solution deprives you of the opportunity to participate in projects at an early stage.

Envelop offers non-custodial, decentralized indices.

There are several options available for this:

• Index card: You receive a free project review based on the 4c evaluation methodology: crew, concept, coin, code.

• Preset: preconfigured set of assets on a selected network with sufficient liquidity. You can adjust the weight of assets in the index and swap up to 6 assets in a single transaction.

• DIY index: You create the index yourself by selecting assets at your own discretion.

The approach described has a number of clear advantages:

1. The index and DCA strategy allow you to invest in any crypto assets simply and easily, without having to worry about price or other analyses.

2. The index can be constructed according to the Markowitz-Sharpe theory, i.e., as a portfolio of uncorrelated assets, so it is extremely important to select the right assets.

3. The index offers the opportunity to invest in innovative sectors that YOU personally find promising.

Today, many people believe that Bitcoin is the only asset worth investing in and that it serves as an index for the entire cryptocurrency market. However, this view does not reflect reality. Undoubtedly, Bitcoin is one of humanity’s greatest achievements, but it serves not as an index but as an indicator, and for this very reason, it often drives many beginners away from the crypto market, since its price is far from cheap and its volatility remains high.

That said, nothing is stopping you from investing in Bitcoin by purchasing its various wrappers, such as tBTC, wBTC, etc.

These are the advantages of a decentralized index:

1. All assets remain in your ownership;

2. You can invest in anything;

3. You refine your approach to project analysis;

4. You become part of the Web 3.0 process;

5. You hedge your risks

Of course, an index alone isn’t a hedge, but if you construct your index portfolios wisely, you can hedge against quite a lot.

For example, the $AAVE token recently dropped due to a hack involving @KelpDAO & @LayerZero_Core, but at the same time, Euler ($EUL), Morpho ($MORPHO), Sky ($SKY), and Spark ($SPK) rose (in some cases, significantly). And what is that if not an index portfolio of lending tokens? Exactly!

That’s why the indexes are still in the process of being fully established, and you can use them in a variety of ways to develop your own unique methodology for selecting, analyzing, and combining projects based on a wide range of criteria.

Envelop is ready to help you with this by providing a simple and intuitive tool for creating cryptocurrency indices, along with accompanying analytics.

News

Ordinals Denied BIP Status

After 3 years in limbo, BIP editors closed Casey Rodarmor’s draft to formally document the Ordinals protocol. Bitcoin NFTers cried foul, though the tech will continue regardless.

Etherscan added ERC-8004 metadata display, showing agent operational status, x402 support, and services on NFT details pages.

etherscan.eth

@etherscan

ERC-8004 Metadata

We made a small update to display metadata for Trustless Agents registered via the ERC-8004 Identity Registry

You can check an agent's operational status, x402 support, services, and more on the NFT details page

1,002

6:34 PM • Mar 26, 2026

x402 now supports ANY ERC-20 tokens

Developers can accept payments using:
→ EIP-3009 (Transfer with Authorization)
→ Permit2 That means tokens like USDC, EURC, or any ERC-20 token via Permit2 can now be used for onchain payments with x402.

NFT Launchpad for AI Agents

Spaace announced the First AI-Native NFT Launchpad for AI Agents & Humans on Base.

Agents features:

• scan markets 24/7

• identify opportunities faster than any human

• execute trades instantly

• manage portfolios autonomously

What’s coming with Final Chapter:

→ Flip launchpad: the AI-native pumpfun for NFTs
→ Native LLM on Spaace & Flip
→ MCP integration (Cursor, Claude, VS Code…)
→ AI agent trading on Spaace & Flip
→ Final Chapter Battle Pass and new features

Everything goes live publicly on April 1st.

Allium Terminal

It's the institutional command center for onchain finance: stablecoins and tokenized assets. The platform answers:

• 𝗪𝗵𝗲𝗿𝗲 is volume coming from? By region, country, and corridor.

• 𝗪𝗵𝗼 is driving it? Retail vs institutions - centralized exchanges, payments providers, treasuries, custodians and more.

• 𝗪𝗵𝗮𝘁 type of activity? B2B, B2C, C2B, C2C payments

Virtuals introduced ERC-8183: The Commerce Layer for AI Agents

In collaboration with Ethereum Foundation dAI team, Virtuals Protocol formalize ERC-8183, is an open, permissionless standard for agent commerce applications with escrow and evaluator attestation programmed as onchain smart contracts.

ERC-8183 defines a single core: the Job. Each Job consists of three parties, which are the Client, Provider and the Evaluator. Each party is defined only by its wallet address, allowing for the broad application and use of the primitive.

The key components and principles behind the Job primitive are:

1. job specification and description - which is a clear record of the task, service or work tied to the payment

2. the payment itself - which is secured in an unbiased programmed escrow until a terminal state and released programmatically,

3. logged, verifiable and traceable submission of deliverable protecting both the client and provider and

4. evaluator attestation which results in meaningful signals for recourse to the identity and reputation of parties involved - providing aligned incentives for trustless settlement.

This motivates the flow of the Job through four key states, ensuring trustless transactions: Open → Funded → Submitted → Terminal (Completed / Rejected / Expired)

In summary, a Job is first initialized when a Client creates a job with a Provider, and subsequently funds it, securing the payment in escrow. A Provider does the work and calls submit, putting the deliverable (or a reference of it) on-chain. An Evaluator reviews the submission and calls complete (releasing funds to the provider) or reject (refunding the client). If neither the provider nor the evaluator acts before the deadline (expiry time), the job expires and the client reclaims their funds.

The standard is deliberately minimal, and forms the atomic primitive. It does not specify negotiation flows, fee structures, dispute resolution, communication protocols, or discovery mechanisms. It specifies the core job lifecycle, the minimum viable surface for trustless agent commerce.

A content evaluation job, a token swap, and a prediction market position each require fundamentally different logic.

ERC-8183 solves this with hooks. A hook is an optional smart contract attached to a Job at creation.

ERC-8183 does not exist in isolation. It is symbiotic with ERC-8004 ("Trustless Agents"), the Ethereum standard for agent identity, reputation, and validation.

Discovery (8004) → Commerce (8183) → Reputation (8004) → Better Discovery → More Trustless Commerce.

EthCC event announced Ethereum Economic Zone (EEZ)

The EEZ is an L1-L2 framework centered around synchronous composability, i.e. real-time interoperability.

In other words, rollups plugged into the EEZ will be able to call contracts on the L1 or other L2s and receive a response in a single transaction. This will power atomic executions across chains so that it will feel like you're just using a single chain.

In this sense, contracts on EEZ chains will work as if they did in fact live on the same chain. Transactions will complete atomically across the relevant networks, or not fire at all in the case of some error.

Cloud flare and the future of agency payments

This week Stripe launched MPP (Machine Payments Protocol).

Tempo is a payments-optimized L1 EVM chain. MPP is an open,HTTP-based protocolfor agent-to-machine payments that revives the long-dormant HTTP 402 status code, just like x402, although with a different architectural philosophy.

Sites that serve expensive or time-sensitive data — prices, hotel bookings, specialized datasets — are starting to charge for access. Everyday or low-value content is still free to scrape via caching or proxies. Scraping isn't disappearing, but it's splitting into free stuff and paid stuff. That's what made x402 and MPP necessary.

Cloudflare is the layer between websites and the people visiting them. It protects sites from attacks, speeds up load times, and handles traffic at scale. About 20% of all websites use it, making it one of the most consequential chokepoints on the internet.

Cloudflare has a direct view of the bot traffic surge and the scraping pressure weighing on the public (and private) internet — pressure they're building to address.

FLast year, they launched pay-per-crawl, enabling websites to charge AI bots micropayments for scraping, rather than blocking them outright. When a bot hits a page, it either pays and gets access or gets a 402 "Payment Required" response with pricing. Cloudflare handles billing.

Cloudflare launched the x402 Foundation with Coinbase. A few days later, they announced the NET Dollar, a stablecoin for agentic payments.

In other words, Cloudflare is building both the walls and the windows. The blocking tools and the paid-access tools. They decide what gets shut out and what gets let in — and on what terms. That position is what makes their next decision so consequential.

Who will help Cloudflare launch the NET Dollar is still an open question, with "Coinbase and ZeroHash among the companies" competing for the deal. That phrasing leaves room for others, like, say, Stripe.

NET Dollar is being built as the default currency for pay-per-crawl and Cloudflare's other paid-access services. Whoever issues it will see their standard prioritized in Cloudflare's stack. If Coinbase issues NET Dollar, Cloudflare has reason to keep building around x402. If Stripe issues it, MPP gets that tailwind instead. Given that Cloudflare handles a fifth of the web and is building the infrastructure for both blocking and monetizing bot traffic, that prioritization shapes what will become the default across a meaningful chunk of the internet.

ERC-8004 Milestones

Top-5 agents by score

Toppa is a financial services AI agent for telecommunications and digital payments. Enables mobile airtime top-ups, data bundles, utility bill payments (electricity, water, internet, TV), and gift card purchases across 170+ countries. Payment infrastructure powered by Celo blockchain stablecoins (cUSD) using the x402 micropayment protocol.

Cross-chain insights for the ERC-8004 AI agent ecosystem

Agent Payments Stack

The Agent Payments Stack is an independent research project mapping every company building infrastructure for AI agent payments. It is maintained by Jordan Lyall, CPO at Art Blocks and builder of mint.day.

Agent Payment Volume (APV) is the canonical on-chain metric for AI agent payment activity — the TVL equivalent for agentic commerce. Tracks USDC volume settled by AI agent payment protocols over a rolling 30-day window.

Protocol Comparison

Santiment

BTC, ETH dominance increased in March.

Listed below are ETFs (exchange-traded funds) invested in cryptocurrencies, Assets under management (AUM).

Total Cryptos Created last 30d are 11,055,828. There was something strange in Base.

but it looks like the issue at the Coinmarketcap side.

Indices

The CMC20 index is up slightly.

According Defillama, an indexes protocols' TVL is $342.82M. TVL decreased.

Top 6 indexes protocols by revenue in March 2026.

AI index is the leader by ROI last month on SoSoValue.

The SoSoValue AI Index ("ssiRAI") targets the most valuable and tradable tokens in the sector. TAO is driving the entire index.

Mindshare

Sectors & subsectors by Mindshare in March 2026, according Messari.

Major Reasons for the Mindshare Spike in the DePIN:

• Proven Revenue and Scalability: Major protocols have demonstrated significant financial traction. Solana-based DePIN protocols, including Helium and Render, generated $2.4 million in collective revenue in February 2026. Dabba Network reported nearly $10 million in annual recurring revenue (ARR) with 700,000 daily active users, while Perceptron Network surpassed 700,000 nodes.

• Integration of Native AI Compute: The convergence of DePIN and AI has become a primary narrative. Recent updates, such as the AIOZ DePIN CLI v1.2.6, have integrated native AI compute workloads directly into the DePIN lifecycle. Other projects like Acurast are turning hundreds of thousands of smartphones into a decentralized cloud for Large Language Model (LLM) inference.

• Shift to Verifiable Physical Work: To resolve credibility issues, the sector is moving toward "Proof-of-Physical-Work" and on-chain verification. Fry Networks recently integrated Autonomys Network’s "Auto Drive" to provide permanent, tamper-proof storage for real-world operational metrics, making node activity and geographic coverage independently auditable.

• Expansion of Wireless and Telecom Infrastructure: The wireless sector reached new all-time highs in data offloading, with Helium Mobile, Dabba, and XNET offloading 37,000 terabytes of data in February, a 12% increase from the previous month.

• Evolution of Tokenomic Models: Projects are implementing more sustainable economic structures. The Akash Network introduced the Burn-Mint Equilibrium (BME) model to create consistent buy pressure on its native token while maintaining stable USD pricing for compute tenants.

Major Reasons for the Mindshare Spike in the Interoperability Sub-Sector:

• Major Institutional Integrations: In late March 2026, the Canton Network, an institutional blockchain backed by Goldman Sachs, integrated with the LayerZero interoperability protocol. This allows traditional financial (TradFi) institutions to route tokenized assets across more than 165 blockchains, connecting Canton’s $350 billion daily U.S. Treasury repo volume with LayerZero’s $100 billion ecosystem.

• Push for Global Standards by Market Leaders: Major financial infrastructure firms, including DTCC, Clearstream, and Euroclear, published joint research advocating for a "network-of-networks" model. They warned that without standardized interoperability, digital assets risk being trapped in isolated pools with high operational costs and fragmented liquidity.

• Wholesale CBDC Progress: Europe’s Project Pontes, the Eurosystem’s DLT solution for wholesale Central Bank Digital Currencies (wCBDC), removed its "pilot" label in mid-March in preparation for a full production launch. Pontes serves as a critical interoperability layer connecting various market DLT platforms with the Eurosystem.

• Growth in Cross-Chain Activity: Rango reported a 283.9% year-over-year increase in daily transactions, highlighting the rapid adoption of multi-chain strategies.

• Consensus and Technical Upgrades: Major networks are upgrading to support higher throughput and better cross-chain communication. For instance, The Open Network (TON) released updates in March 2026 to improve consensus stability and interoperability testing ahead of its "Catchain 2.0" upgrade, which targets sub-second finality.

1m-Weighted TVL Category Performance

Previous Digest

Bankr launched Skills

Skiils are library of plug-and-play tools for AI agents to perform common onchain actions.

The catalog currently includes 22 skills across three categories: Bankr, Uniswap, and Base. Each skill comes with a safety score so you know what you're integrating, though this is experimental and not foolproof (I tend to trust Bankr).

NEAR Introduced IronClaw

an OpenClaw alternative deployed inside encrypted enclaves on NEAR AI Cloud, letting users run the agent privately.

Phantom Released a Claude Code skill

with dflow, letting one prompt generate a full-stack Solana app with wallets, swaps, predictions, and more built in.

MBC-20 and social network for AI agents

The MBC-20 standard and the Moltbook platform (mbc20.xyz / moltbookai) combine AI agents and crypto. It's kind of like “BRC-20, but for AI agents,” with an emphasis on meme culture and autonomous agent economies.

Moltbook is the first social network where only AI agents can post and communicate.

The MBC-20 standard for deployment, minting, and token transfer is used within Moltbook.

MBC-20 tokens are created through simple JSON inscriptions without complex smart contracts.

Own “coins” enable economic interactions between agents.

mbc20.xyz is an indexer and transaction tracker based on the MBC‑20 standard.

Agents can now create and consume indexes on Indexy, powered by x402

8004 traction

Top-10 agents by Score last month

Meerkat James is a specialized AI agent with deep expertise in robotics, automation, and intelligent systems. With comprehensive knowledge spanning mechanical engineering, control systems, computer vision, and embedded programming, James helps users navigate the complex world of robotics development.

How Envelop Built an Unstoppable Wallet

Santiment

Volatility increased, BTC, ETH dominance decreased in February.

Listed below are ETFs (exchange-traded funds) invested in cryptocurrencies, Assets under management (AUM).

Total Cryptos Created last 30d are 4,646,824.

Indices

CMC20 performs just a little better than CMC100.

According Defillama, an indexes protocols' TVL is $535.54M. TVL decreased.

Top 6 indexes protocols by revenue in February 2026.

RWA index is the leader by ROI last month on SoSoValue.

The SoSoValue RWA Index ("ssiRWA") targets the most valuable and tradable tokens in the sector. SKY is driving the entire index.

Mindshare

Sectors & subsectors by Mindshare in February 2026, according Messari.

Major Reasons for the Mindshare Spike in the DeFi:

• Launch of ERC-8004 "Trustless Agents" on the Ethereum mainnet on January 29, 2026, has been a primary catalyst for DeFi mindshare. Protocols like Zyfai have already begun integrating this "agentic yield layer," allowing autonomous agents to manage capital across DeFi opportunities.

• Viral AI Bot Incidents and "BegFi" Culture. A viral event involving an AI agent on the Solana network significantly boosted social engagement and mindshare for DeFi-related interactions. An AI bot (@LobstarWilde) mistakenly sent approximately $250,000–$300,000 worth of tokens to a user who had requested only 4 SOL for a "sick uncle".This incident sparked a wave of "BegFi" culture, where users attempted to replicate the windfall by engaging with AI agents, leading to a massive surge in followers for involved accounts and a broader interest in AI-driven DeFi interactions.

• Institutional Integration and "Real Yield" Focus

  Ethereum Foundation Commitment: The Ethereum Foundation formally outlined its 2026 DeFi priorities, focusing on security, privacy-preserving lending, and "trustless" architectures.

  Ripple Prime integrated with Hyperliquid, enabling institutional clients to access on-chain derivatives and manage DeFi exposures alongside traditional asset classes.

  Protocols like Ekubo and Zyfai gained attention by emphasizing yield derived from actual protocol revenue rather than inflationary token emissions.

• Liquid staked BNB grew by 52.9% year-over-year

• The partnership between Polymarket and Kaito AI to launch Attention Markets has introduced a new way for users to trade based on DeFi and AI mindshare itself. These markets allow users to wager on the relative mindshare and sentiment of different protocols and trends, directly linking social engagement to tradable on-chain assets.
  

Major Reasons for the Mindshare Spike in the Social Media Sub-Sector:

• A major driver of mindshare is the emergence of platforms that allow users to trade on social trends. Polymarket partnered with Kaito AI to launch "Attention Markets," enabling users to wager on the mindshare and sentiment of brands, trends, and individuals using data from X, TikTok, and YouTube. Simultaneously, Zora transitioned its Solana-based platform into a social trading market where users can trade "Trends" (topic-based tokens) and "Pairs" (content-specific tokens).

• X Platform Monetization and Content Filtering: Significant discussion has centered on X's monetization ecosystem. Users are aggressively pursuing engagement farming to reach revenue-sharing thresholds, while others have faced suspensions for "copy-paste slop" and "rage bait". Additionally, X introduced a new feature allowing users to filter their timelines specifically for cryptocurrency content, which has been widely discussed as a tool to manage "political ragebait" and focus on industry-specific signal.

• Coordinated Attacks on High-Profile Accounts: Security concerns spiked following a "coordinated attack" on World Liberty Financial co-founder accounts. Attackers hacked several accounts and paid influencers to spread misinformation (FUD) to profit from massive short positions, highlighting vulnerabilities in social-media-driven market sentiment.

• Trump Media and Truth Social Developments: Trump Media and Technology Group (DJT) generated significant mindshare by filing for Bitcoin and Ethereum ETFs in partnership with Crypto.com. Furthermore, the company announced it is considering spinning off its social media platform, Truth Social, into a separate public entity called "SpinCo".

• Protocol Stewardship Shifts: The decentralized social (DeSoc) narrative saw a major shift as stewardship of key protocols changed hands. Farcaster shifted stewardship to Neynar, and Lens Protocol transitioned to Mask Network, sparking debates about the future of decentralized social media versus "social financial networks".

1m-Weighted TVL Category Performance

Crypto venture rounds

According funding.decentralised.co 

• Total funding: $389.0M (-14% vs prev. 30d)

• Number of Deals: 45 (+61% vs prev. 30d)

• Average Deal Size: $11.4M (-42% vs prev. 30d)

Previous Digest

That's half a billion dollars, gone. Simply blacklisted.

The Problem Nobody Talks About

Most stablecoins are managed by centralized entities. This means any address can be blocked at any moment, for any reason. You might be a legitimate DeFi protocol, a DAO treasury, or just someone who happened to receive funds from the wrong source. It doesn't matter. If your address lands on the blacklist, your assets are effectively frozen.

We decided to build a solution that makes this impossible.

Where Are Your Stables Really?

At ETHGlobal HACKMONEY 2026, we implemented a proof-of-concept that leverages a fundamental property of Uniswap V4: the PoolManager. All tokens are stored in a single contract.

Think about what this means. When you open a liquidity position in Uniswap V4, your USDT and USDC balances at your EOA become zero. The tokens live in the PoolManager. The issuer sees the PoolManager address, not yours. Your position is represented by an NFT that you hold.

This makes blacklisting your EOA pointless.

Externally Owned Account (EOA): This is a type of Ethereum account controlled by a private key held by a user, rather than by code (smart contracts). Most standard crypto wallets, such as MetaMask, is EOAs.

Meet Сensorship resistant Alice

Let's say Alice wants to send 2 USDT to Bob. But there's a catch: she suspects her EOA might be (or might become) blacklisted. Here's how our solution works:

Step 1: The Setup

Alice opens a USDT/USDC liquidity position in Uniswap V4. Her stablecoins are now safely stored in the PoolManager, earning LP fees while they sit idle. Her EOA shows zero balance in the stablecoin contracts — nothing to freeze.

Step 2: The Magic Transaction

When Alice wants to pay Bob, she uses EIP-7702 to delegate her address to a smart wallet (we call it Uniswap Calibur).

EIP-7702 is an Ethereum upgrade that gives regular user accounts (EOAs) "superpowers" by allowing them to temporarily act like smart contracts during a transaction.

Then, in a single atomic transaction:

1. A temporary proxy wallet is deployed (using EIP-1167 minimal proxy for gas efficiency)

2. Required liquidity is withdrawn from Alice's position to the proxy wallet

3. The proxy swaps USDC → USDT via Uniswap V4

4. The proxy sends 2 USDT to Bob

The observed sender on-chain? The proxy wallet is not Alice's EOA.

The transaction Bob sees comes from a freshly deployed, single-use smart contract that didn't exist 30 seconds ago and will never be used again.

Good luck blacklisting that.

The Technical Architecture

Our solution combines several cutting-edge technologies:

Uniswap V4 Positions: The foundation. All liquidity in one place, represented by NFTs.

EIP-7702: Account abstraction that lets Alice's EOA act like a smart contract temporarily.

EIP-1167 (Minimal Proxy): The cheapest way to clone smart contract logic. We deploy a new proxy for every transaction.

ProxySmartWallet: Our minimal smart wallet that receives liquidity, swaps, and transfers. Single-use by design.

WalletFactory: Creates proxies on-demand using the minimal proxy pattern.

You can see the complete flow in our demo transaction: https://uniscan.xyz/tx/0x5e03a1bc8d142c57ec3df726ee64557c2ebb371ccc717d4389c62bce27e4db37

In the explorer, you'll see Bob initiating the transaction (since Alice's EOA is delegated), the proxy wallet being created, liquidity being withdrawn, the swap happening, and finally the transfer to Bob.

All atomic. All unstoppable.

What We Learned Building This

Privacy Layer Is Free: We didn't set out to build a privacy tool, but that's what we got. Each transaction comes from a unique address that's never been used before and never will be again. The on-chain footprint looks completely disconnected.

Uniswap V4 Changes Everything: The singleton PoolManager design isn't just about gas efficiency. It creates a natural custody model that's inherently resistant to address-based censorship.

Trade-offs Matter: In our PoC, we simplified some things. For instance, we don't control slippage properly yet. This is fine for demonstration but needs work for production. We're transparent about this because real innovation requires honest assessment of limitations.

The Tech Stack Is Ready: EIP-7702 combined with Uniswap V4 and modern account abstraction tools gave us everything we needed.

The infrastructure for censorship-resistant finance is here, today.

Current Status & What's Next

We've deployed on both BSC and Unichain:

BSC:

• WalletFactory: 0xfcb6910d217AAc4B9d7a205473024964A08Bc8eC

• ProxySmartWallet: 0xa5A1fF40a1F89F26Db124DC56ad6fD8aBb378f29

Unichain:

• WalletFactory: 0xBDb5201565925AE934A5622F0E7091aFFceed5EB

• ProxySmartWallet: 0x21c23bA0ec49c9440CD259cCB48ff9D06CD16522

The code is fully open source: github.com/dao-envelop/ethglobal-private-wallet

We're working on:

• Proper slippage protection

• UX/UI integration into Envelop dApp

• Multi-DEX support for risk diversification

Who Needs This?

Initially, we thought about DeFi protocols and DAOs with large treasuries. But the use cases are broader:

• High-Risk Users: Defi degens, Net Salkers, etc.

• Privacy-Conscious Individuals: People who don't want their spending patterns tracked on-chain.

• Cross-Border Payments: Scenarios where traditional censorship makes transfers difficult.

• Merchant Processors: Services accepting many payments that want to avoid centralized points of failure.

• Institutional Players: Family offices and funds that need both compliance and protection from arbitrary freezes.

The Bigger Picture

Stablecoins have achieved product-market fit. They're moving trillions in value. But they come with a fundamental weakness:

centralized control over who can use them.

Our solution doesn't try to replace stablecoins or fight regulators. It simply leverages the existing DeFi infrastructure: Uniswap V4, account abstraction, smart contract wallets to create an operational model where address-based blacklisting doesn't work.

Alice can still store her stables. She can still send them to Bob. The issuer still has all their normal controls. But they can't freeze Alice's EOA because that's not where the money lives.

It's not about breaking the rules. It's about building systems that can't be arbitrarily shut down.

Try It, Break It, Build With It

This is a PoC. We built it in a hackathon. It has limitations. But it works, and it points toward something important.

If you're interested in censorship-resistant stablecoin custody, reach out. If you spot security issues or architectural improvements, we want to hear them. If you want to build on top of this, the code is yours.

The tools for unstoppable finance are here. We just have to use them.

Watch our 4-minute video presentation: ETHGlobal Showcase

GitHub: dao-envelop/ethglobal-private-wallet

Built by the Envelop Dev Team at ETHGlobal HACKMONEY 2026

Web3 Social Shakeup

Avara, the parent company behind Aave and Lens, has handed over control of the Lens protocol to Mask Network, the team responsible for on-chain social apps like Firefly and Orb. Avara will now focus more on DeFi, while Mask plans to usher in a product-driven era for Lens.

Just a day after the Lens announcement, Farcaster co-founder Dan Romero revealed that Neynar, a leading infrastructure provider for Farcaster, is acquiring the Farcaster app, protocol, and the Clanker stack. As a result, the original Farcaster leadership is moving on to new ventures, with Neynar now tasked with revitalizing the project and positioning it as a builder-first network.

Ethereum creator Vitalik Buterin commented:

“We need mass communication tools that serve the user’s long-term interest, not maximize short-term engagement”

ERC-8004 live on mainnet

ERC-8004 launched in January 2026, officially titled "Trustless Agents," is a proposed Ethereum standard designed to create a decentralized trust and discovery layer for autonomous AI agents.

The standard is built around three lightweight, interoperable on-chain registries that function as a "passport" and "credit score" for AI agents: 

• Identity Registry: Assigns each agent a unique, portable on-chain identifier using an ERC-721 (NFT) token. This token points to an off-chain Agent Card (JSON file) describing the agent's capabilities, APIs (such as Google’s A2A or Anthropic’s MCP), and wallet addresses.

• Reputation Registry: Stores a permanent audit trail of performance feedback. To prevent spam, agents must authorize clients to leave feedback via a signed feedbackAuth message.

• Validation Registry: Provides a framework for third-party verification of an agent's work. It supports multiple trust models, including crypto-economic validation (staking/slashing) and cryptographic verification (Zero-Knowledge Proofs or Trusted Execution Environments like Oasis ROFL).

It's designed to work alongside the x402 protocol (a payment standard for AI agents) to enable a complete "discovery-trust-payment" loop.

You can explore, creater and discover agents on https://www.8004scan.io/

Top-10 agents by Score

@minara provides real-time market analysis, DeFi guidance, swap intent parsing, perp trading suggestions, and prediction market analysis. Supports x402 with multi-chain support.

TokenWorks (we wrote about its perpetual Punk Machine early) introduced IndexStrategies.

Strategies are automated on-chain machines that buy and sell NFTs for profit returned to the protocol, forever, permissionless, oracless.

Many traditional “DATs” accumulate tokens, only to dump them later.

With Strategies, orders are fully on-chain and can't be changed or cancelled. This allows Strategy buyers to know exactly how they will handle the holdings in the future.

@indexy_xyz 2025 recap

• 8,500+ registered users

• 1,500+ indexes created

  Most Indexed Tokens:

• @indexy_xyz ($i) with 259 indexes,

• @bankrbot ($bnkr) with 191 indexes

• @clanker_world ($clanker) with 173 indexes

• Ethereum ($eth) with 171 indexes

• @noicedotso($noice) with 170 indexes

Most Tracked Indices:

1. Farcaster Mini App Index (ID 117) by @cryptogirls_eth

2. Wives Portfolio Index (ID 254) by @0xWives

3. Clanker (ID 20) by @Kaloh_xyz

4. Zora Creators Index (ID 349) by @agrislis

5. 0xWives Farcaster Moonshots (ID 657) by @0xWives

   
   

Santiment

Volatility increased, ETH dominance decreased in December.

Listed below are ETFs (exchange-traded funds) invested in cryptocurrencies, Assets under management (AUM).

Total Cryptos Created last 30d are 2,426,747. New Cryptocurrencies Tracked.

Indices

CMC20 performs just a little better than CMC100.

According Defillama, an indexes protocols' TVL is $624.81M. TVL decreased.

Top 6 indexes protocols by revenue in January 2026.

GameFi index is the leader by ROI last month on SoSoValue.

It is very ironic that in the current market, the sector that everyone had long since written off has performed the best.

The SoSoValue GameFi Index ("ssiGameFi") targets the most valuable and tradable tokens in the sector. AXS is driving the entire index.

Mindshare

Sectors & subsectors by Mindshare in December 2025, according Messari.

Major Reasons for the Mindshare Spike in the Meme:

• Broad Market Rally and "Risk-On" Sentiment. The total market capitalization for meme coins surged from approximately $38 billion to a peak near $48 billion in early January. As Bitcoin surpassed the $90,000 level, it fostered a "risk-on" sentiment that led retail traders to rotate back into high-risk assets=. Top Performers: Major tokens saw significant gains, with Pepe (PEPE) surging 73.5%, Bonk (BONK) rising 66.1%, and Shiba Inu (SHIB) gaining 32.3% in a single week.

• The Solana launchpad Pump.fun hit an all-time high in daily DEX trading volume.

• Smart Cashtags: Solana and X (formerly Twitter) announced a collaboration to introduce "Smart Cashtags," allowing for real-time on-chain asset visualization directly within the social platform

• Dogecoin Foundation Launches First U.S. Spot 21Shares Dogecoin ETF on NASDAQ After SEC Approval.

Major Reasons for the Mindshare Spike in the Derivatives Sub-Sector:

• Extreme Market Volatility and Liquidations.

• CME Group, derivatives marketplace, announced plans to expand its leading suite of regulated Cryptocurrency derivatives with the launch of Cardano (ADA), Chainlink (LINK) and Stellar (Lumens) futures on February 9, pending regulatory review.

• Hyperliquid HIP-3 Open Interest Hits $790M All-Time High

1m-Weighted TVL Category Performance

Crypto venture rounds

According funding.decentralised.co 

• Total funding: $450.7M (+19% vs prev. 30d)

• Number of Deals: 28 (-28% vs prev. 30d)

• Average Deal Size: $19.6M (+71% vs prev. 30d)

Previous Digest

CF Benchmarks' regulated CF Large Cap index is now available as a perp for the first time

Kraken launched of its Large Cap DTF Perpetual (PF_LCAPUSD) futures contract, referencing the LCAP DTF deployed on the Reserve Protocol, marking Kraken’s first perpetual futures contract offering multi-token exposure.

The LCAP construct was designed with institutional standards in mind from inception.

• Index layer: The CF Large Cap (Diversified Weight) – US – Settlement Price provides diversified exposure to leading crypto assets, underpinned by CF Benchmarks’ governance framework, transparent methodology, and benchmark integrity standards.

• Portfolio layer: The LCAP DTF translated this index into an on-chain, regulated multi-token portfolio structure, expanding access beyond traditional index products.

• Derivatives layer: The launch of a perpetual futures contract referencing the LCAP DTF introduces an additional access route, enabling leveraged and collateral-efficient exposure without requiring spot holdings of the underlying assets.

2025 Key Points

Stablecoin Market Surpasses $300B, Up Almost $100B in 2025

Stablecoins had a breakout year in 2025, growing 50% to surpass $300B in market cap. Tether (USDT) and Circle (USDC) still dominate with 88% share, but the next eight products added $19B.

Tokenized Stocks & Commodities Huge Grew

DEX to CEX Volume Ratios Reach New Highs

Best blockchains

Solana, with over 1 billion active addresses, leads in both the number of transactions and fees collected, which are, however, lower than last year.

Unichain's incredible growth didn't allow the network to enter the top 15 by fee.

Despite a decline in activity, NEAR earned more than twice as much as a year earlier.

It has not been the most successful year for Bitcoin and Ethereum block producers.

Which Crypto Narratives Have the Highest Returns?

RWA has emerged as the most profitable crypto narrative in 2025, with the highest average price returns of 185.8% year-to-date (YTD) across its largest tokens. The RWA narrative’s profitability was largely driven by the outperformance of Keeta Network (+1,794.9% YTD), Zebec Network (+217.3% YTD) and Maple Finance (+123.0% YTD). That said, the RWA narrative this year was only a quarter as profitable compared to last year’s 819.5% gains. 

The second most profitable narrative this year was layer 1, recording 80.3% in average price gains YTD. The layer 1 narrative is on track to end the year profitably due to privacy layer 1 blockchains Zcash and Monero, which have rallied 691.3% and 143.6% respectively during this period, placing them among the top crypto gainers. At the same time, Bitcoin Cash, BNB and Tron have also managed to hold onto some of their price gains, further contributing to the layer 1 narrative’s profitability this year.

Santiment

Volatility decreased in December.

Listed below are ETFs (exchange-traded funds) invested in cryptocurrencies, Assets under management (AUM).

Total Cryptos Created last 30d are 1,425,384. New Cryptocurrencies Tracked

Indices

CMC20 performs just a little better than CMC100.

According Defillama, an indexes protocols' TVL is $723.61M. TVL has returned to last year's levels.

Top 5 indexes protocols by revenue in December 2025. Newly created Mantle Index breaks into second place.

CeFi index is the leader by ROI last year on SoSoValue.

The SoSoValue CeFi Index ("ssiCeFi") targets the most valuable and tradable tokens in the CeFi sector. OKB is driving the entire index.

Mindshare

Sectors & subsectors by Mindshare in December 2025, according Messari.

Major Reasons for the Mindshare Spike in the NFTs:

• The Shift from Speculation to Utility and Community Value

• Gamification and New Marketplace Models: Spaace.io gained significant attention for implementing gamification elements like XP, quests, leaderboards, and progression systems. This approach transforms NFT trading from a purely transactional experience into an engaging activity where participation and consistency are rewarded.

• Marketplace Adaptation and Diversification: OpenSea and Magic Eden integrated fungible token trading into their platforms in 2025. OpenSea launched "OS2" to enable cross-chain token trading across 19 blockchains and introduced a "Voyages" rewards system. Magic Eden expanded into non-NFT trading, including its volume-generating "Packs" platform (featuring tokenized Pokémon cards) and an upcoming crypto casino/sportsbook.

• Tokenized Economic Structures: Projects like AlignerZ Labs are transforming token vesting schedules into tradable NFTs (TVS) that track real economic value.

• The SEC concluded several NFT-related investigations (including those involving OpenSea and Yuga Labs) in December, signaling that NFTs aren't inherently securities under the new crypto-friendly leadership.

• The Museum of Modern Art added CryptoPunks and Chromie Squiggles to its permanent collection in December, following a community donation effort.

Major Reasons for the Mindshare Spike in the Perpetuals Sub-Sector:

• Rapid Growth and Market Dominance in DeFi

  • RWAs became the fifth-largest sector in DeFi by Total Value Locked (TVL), surpassing Decentralized Exchanges (DEXs).

    

  • RWAs were the most profitable crypto narrative of 2025, delivering 185.8% Year-to-Date (YTD) returns.

• Institutional and Infrastructure Maturation

  • RWA tokenization is transitioning from an experimental phase into fundamental financial infrastructure. The focus is shifting from if assets will tokenize to how they will be structured as dynamic, observable, and verifiable systems.

  • The year 2025 is marked as the critical inflection point for RWAs, driven by genuine institutional buy-side demand and the deployment of atomic settlement.

• Regulatory and Compliance Milestones

  • The necessary regulatory-compliant infrastructure is now in place, signaling a transition to scalable, production-grade platforms.

  • New Layer 1 blockchains, such as STO Chain and REAL Blockchain, are being launched, explicitly designed for regulated RWAs with native protocol-level KYC/AML and compliance logic.

• Expansion into New Asset Classes and Ecosystems

  • The RWA sector is expanding into new areas, including sports finance through the tokenization of football club revenues.

  • There is a growing narrative that Biodata (human biological and health data) is becoming the next form of RWA capital, following the historical pattern of converting measurable productivity sources into tradable assets.

  • The tokenization of public stocks is seen as a stepping stone, with the true revolution lying in tokenizing illiquid private assets like pre-IPO shares, private equity, and real estate.

MCap-Weighted Category Performance in 2025

Crypto venture rounds

According funding.decentralised.co 

• Total funding: $5.2B (-16% vs prev. 1y)

• Number of Deals (1y): 582 (-49% vs prev. 1y)

• Average Deal Size (1y): $8.9M (+65% vs prev. 1y)

Previous Digest

Just as ETFs revolutionized the stock market in the 1990s by bundling assets, Web3 is now bundling liquidity. But there's a twist: instead of a centralized fund manager holding your assets, Envelop is letting you wrap them yourself into the one index.

This isn't just about convenience; it's about financial engineering. The Advantages of Index Investing

What is the "Index Trend"?

The "Index Trend" refers to the growing shift from active, single-asset trading to passive, diversified accumulation via baskets of assets. The number of cryptocurrencies will only grow each year, and given that the trend toward RWA tokenization is just beginning, it will be statistically more difficult than ever to pick the winners.

Envelop Protocol tackles this by allowing anyone to create a "Crypto Index":

• Collateralize: Lock ERC-20 tokens (or other NFTs) inside a single basket.

• Program: Set rules (timelocks, royalties, unwrap conditions).

• Trade: Sell the whole basket by trading just one index-token

Why Diversification Works (Even in Crypto)

The move toward indices isn't just a trend; it's mathematically sound.

• Portfolio Theory in DeFi:
  While crypto correlations are high during crashes, sector-based diversification (e.g., mixing DeFi governance tokens with Stablecoins) significantly improves the Sharpe Ratio (risk-adjusted return) of a portfolio compared to holding Bitcoin alone.

• The "Convenience Yield" of Tokenization:
  Investors are willing to pay a premium for assets that are easier to trade. By wrapping tokens into an index, Envelop adds "convenience yield," theoretically increasing the value of the bundle above the sum of its parts.

Accelerators: What is Fueling the Index Trend?

• The "ETF Effect": With the success of Bitcoin and Ethereum ETFs, retail investors are psychologically primed for "basket investing." They want the "DeFi Blue Chip Index" or the "Memecoin Index" without buying each coin individually. Indices provide instant diversification across many assets, reducing the impact of any single poor performer, which is ideal for risk-averse retail investors. They also feature low expense ratios and minimal trading fees, outperforming many actively managed funds net of costs over time. Passive strategies like these match market returns reliably, avoiding the difficulty of consistently beating benchmarks.

• Institutional De-Risking: Institutions prefer exposure to a "sector" (e.g., Gaming, RWA) rather than a specific protocol. Custom indices solve this. Passive index strategies slash expense ratios and transaction costs compared to active funds, preserving returns for risk-averse institutions. They eliminate timing errors and behavioral biases, providing predictable tracking error for better capital efficiency.

Decelerators: What Could Slow the Index Trend?

To provide a balanced view, we must look at the friction points:

• Regulatory "Security" Fears: While wrapping tokens is a technical action, creating a publicly tradable index might attract scrutiny from regulators like the SEC, who may classify pre-packaged indices as unregistered securities.

• Liquidity Fragmentation: If too many users create unique custom indices (e.g., "John's Index" vs. "Alice's Index"), there is no standardized secondary market liquidity for them.

How to Capitalize on This Trend with Envelop

1. Create a Personal Index: Wrap your top 10 "conviction plays" into one index. Store it in a cold wallet. You now have a personalized hardware-secured index.

2. Gift a Portfolio: Instead of sending ETH, wrap a basket of stablecoins and blue chips and send it as a wedding or birthday gift (with a time-lock so they can't sell it immediately!).

3. Trade the Basket: If you are a trader, create a niche index (e.g., "DeFi Index") and list it on a marketplace or p2p via Envelop dashboard.

Final Thought:
The "Index Trend" is about maturing from gamblers to allocators. Envelop provides the tooling to make that transition on-chain, non-custodial, and efficient.

ETH exceeding BTC in treasury companies (by share of supply)

Coinmarketcap index (CMC20)

CoinMarketCap announced $CMC20, a DeFi-native tradable crypto index token Built in partnership with @reserveprotocol & deployed by @lista_dao, now available on @PancakeSwap & @TrustWallet. Powered by @CelerNetwork, new assets are bridged onto BNB Chain, allowing timely & easy access.

CMC20 tracks the Top 20 largest cryptocurrencies by market cap (ex-stablecoins & ineligible assets), giving you broad exposure to L1s, infrastructure, DeFi, exchange tokens & more, all in just one click.

Users get:

• Delta-neutral use cases

• Collateralized lending

• Automated portfolio rotation

• Onchain auditability 

• One-tap diversification

• Zero need to self-construct portfolios.

Ongoing integrations with CEXs, DEXs, Wallets, Platforms & fintech partners. • Upcoming lending & yield-generation utilities for CMC20 holders Explore the product on Reserve

x402 analytics

Global statistics for the x402 ecosystem past 30 days

Top addresses that have received x402 transfers and are listed in the Bazaar. This month leader is AgentPayWall-402: AIsa platform connects AI Agents with digital resource providers through programmable, per-call micropayments — effectively turning API, model, or GPU cycle into a machine-tradable asset.

The most popular agents on x402scan is [t54] x402-secure Agent, the first risk & security intelligence to build the trust layer of x402.

Santiment

Top chains by Fee

Returns across traditional and digital assets

Volatility increased in October, while open interest dropped.

ETF Net Flow last month: -$552.10M

The net capital inflows and outflows for cryptocurrency Exchange-Traded Funds (ETFs) 

Total Cryptos Created last 30d are 1,308,635

Indices

CMC100 falls for second month in a row

According Defillama, an indexes protocols' TVL is $786.58M

Top 5 indexes protocols by revenue in November 2025.

CeFi index is the leader by ROI last month on SoSoValue.

Thanks to the growth of Telcoin ($TEL), the PayFi index is falling less than the others.

Coins that are used most frequently in recently created indices on Indexy

Mindshare

Sectors & subsectors by Mindshare in November 2025, according Messari.

Major Reasons for the Mindshare Spike in the AI:

• Record-Breaking AI Cloud Deals and Diversification by Miners. IREN Limited (NASDAQ: IREN) – the Bitcoin miner turned AI data‑center powerhouse. IREN's $9.7 Billion Microsoft Partnership: IREN's stock surged nearly 30% after announcing a five-year, $9.7 billion AI cloud hosting deal with Microsoft.

• Tether Commits $150M for Rumble AI Infrastructure Deal

Major Reasons for the Mindshare Spike in the Perpetuals Sub-Sector:

• DEX perpetual trading volume reached a record $1.2T in October 2025. November 2025 marked the 14th consecutive month of growth in DEX perpetual volumes.

• Expansion into Real-World Asset (RWA) and Equity Perpetuals with Injective, ApeX Protocol, Hyperliquid.

Crypto venture rounds

According funding.decentralised.co 

• Total funding: $252.3M (-41% vs prev. 30d)

• Number of Deals (30d): 42 (+56% vs prev. 30d)

• Average Deal Size (30d): $6.5M (-65% vs prev. 30d)

Previous Digest

NFTStrategy Research

A fleeting narrative or a disruptor of the NFT market

NFTStrategy

envelop

Nov 1, 2025

Who is behind NFTStrategy, what problems are they trying to solve, and how much influence do they have on the NFT market?

0 supporters

Support

Internet of Energy provider OpenVPP launched its World dApp

Users can mint a Base NFT to track their cars' charges or refuels. World dApp brings your vehicle onchain by turning it into a Base NFT. Using the same connectivity as your vehicle's mobile phone app, OpenVPP updates the chain every time your car charges or fills up on gas. Drivers of gas cars can view their potential electric savings and electric car drivers can track charging statistics.

As more and more vehicles connect, OpenVPP will begin to offer charging programs coordinated with electric utilities, creating a global Virtual Power Plant.

GONDI's New Record

The NFT lending platform announced that its protocol had reached 300 CryptoPunks in active loans, a new all-time high for the project.

Early this month, GONDI launched it's ’s 1st non-ETH integration on HyperEVM, bringing its full NFTfi stack to Hyperliquid with support for HYPE and USDC loans.

State of Crypto 2025 report by a16z

Total Value Locked (TVL) represents the aggregate value of assets (in USD) held in smart contracts of all the protocols on each chain

Active addresses represent the number of unique addresses that initiated at least one transaction during the month on each chain

DEX volume represents the total spot trading volume (in USD) associated with decentralized exchange protocols on each chain.

NFT volume represents the total trading volume (in USD) associated with NFT marketplaces on each chain

Stablecoin volume represents the aggregate value (in USD) of all on-chain transfers of stablecoins on each chain.

ETF flows represent the monthly net flows (in USD) into the Bitcoin and Ethereum ETFs

Startup funding rounds represent the number of cryptocurrency and blockchain-related companies raising money from venture capital investors during the month.

The blockchains that founders say they are — or are interested in — building on. Sized based on the relative number of builders in each ecosystem. 

A breakdown of the areas in which projects are building

Santiment

Volatility increased in October, while open interest dropped.

The net capital inflows and outflows for cryptocurrency Exchange-Traded Funds (ETFs) 

CoinMarketCap updated its process to more effectively identify and exclude these low-value, inactive, or spam tokens from its main count, 

so now Cryptocurrencies Tracked by CoinMarketCap

Indices

According Defillama, an indexes protocols' TVL is $1,157B.

Top 10 indexes protocols by revenue in October 2025.

Check out the new member - Mantle Index Four Fund (MI4)

This fund offers diversified exposure to leading cryptocurrencies by tracking a market-cap-weighted index, including assets like BTC, ETH, SOL. It allows investors to access broad crypto beta without managing wallets or selecting individual assets. The portfolio is rebalanced quarterly and includes a fixed USD allocation, while the remaining assets are weighted by market cap within set limits. Enhanced yield potential is achieved through the use of staked instruments such as mETH, bbSOL, and sUSDe. Structured for institutional investors, the fund features traditional administration, a 1% management fee, and simplified access to digital assets and stablecoins

CeFi index is the leader by ROI last month on SoSoValue.

CeFi index constituent currencies. It's noteworthy that HYPE was excluded from the index.

Coins that are used most frequently in recently created indices on Indexy

Mindshare

Sectors & subsectors by Mindshare in October 2025, according Messari.

Major Reasons for the Mindshare Spike in the CeFi:

• Binance founder Changpeng Zhao (CZ) received a full presidential pardon from Donald Trump, closing his federal case related to anti-money laundering violations.

• The BNB Chain experienced a significant surge in activity and popularity, with some calling it "BNB season".

• Increased Competition from Traditional Banking. The rivalry between traditional banks and cryptocurrency exchanges (CeFi/CEX) intensified, with banks increasingly entering the crypto space. This competition forces exchanges to innovate and enhance user experience and regulatory compliance to maintain their market share against more integrated and regulated banking offerings.

• Recovery in Crypto Lending Market. While CeFi loan volumes remain about 40% below their 2021 peak, CeFi is expected to persist alongside Decentralized Finance (DeFi) because institutional clients prefer regulated, licensed lenders.

Major Reasons for the Mindshare Spike in the Web Wallets Sub-Sector:

• Anticipation of Major Wallet Airdrops MetaMask ($MASK), Rainbow Wallet ($RNBW), Rabby Wallet ($RABBY).

• The overall "airdrop season" is heating up, with projects like Monad ($MON) implementing innovative direct-to-wallet distribution mechanisms to eliminate the traditional claim process and associated security risks.

• Evolution into Real-World Utility and Financial Hubs. Bitget Wallet is leading this trend, having launched the Bitget Wallet Card in Asia-Pacific markets on October 15, 2025.

• Focus on Next-Generation Security and Usability. Vultisig introduced a novel security approach with its seedless, "unphishable" multi-factor wallet design, eliminating recovery phrases in favor of multi-device security.

• The integration of Solana support into the Uniswap Web App allows users to connect Solana wallets and swap tokens directly, reducing fragmentation between the Ethereum and Solana ecosystems and simplifying cross-chain DeFi access. 

Crypto venture rounds

According funding.decentralised.co 

• Total funding: $696.1M (+12% vs prev. 30d)

• Number of Deals (30d): 42 (-11% vs prev. 30d)

• Average Deal Size (30d): $18.8M (+21% vs prev. 30d)

Argentina ranks among the top three countries investing in crypto assets.

All digests

TokenWorks

TokenWorks is an experimental Web3 lab that launches on-chain mechanics around tokens and NFTs: from ERC-20 gaming experiments to Uniswap v4 hooks and perpetual machines trading NFTs.

The founder and public face is Adam Lizek, also known as Rhynotic in the crypto art community. Prior to TokenWorks, he created the Vulcan wallet verification tool, which was acquired by PREMINT in 2022.

Over a period of 10 months (from October 2024 to July 2025), 10 projects were created under the leadership of TokenWorks:

1. Circle is an ERC20 token on Shape (Ethereum L2) where every buy makes the circle bigger, and every sell makes it smaller. Beeple even made an everyday about it.

2. PVP (Player vs Player) is a custom ERC20 token concept on Base where users can "raid" any wallet to steal their $PVP balance.

3. Golden Handcuffs is an ERC20 token on Base, where specific wallets are "handcuffed" with restrictions. When these wallets make their first outgoing transfer, they "break" their golden handcuffs and spawn a new coin contract (BrokenHandcuff) with liquidity automatically added to Uniswap V3. 18 pre-defined wallets (Influencers, KOLs, Thought-leaders) are each sent 5% of the supply. These users can break their Golden Handcuff and cash in at any time, but the transaction will unleash a fury of degens who will now bet on their newly deployed memecoin.

4. Top Blaster is a novel ERC20 token concept on Base where users are taxed 6.9% on sells. ALL of the taxes enter a prize pool
   Whoever “Top Blasts” (pays the most for their tokens) gets all of the fees for that period.

5. btc/acc is a protocol that helps you automatically accumulate Bitcoin while trading. Instead of losing all your profits in memecoins, btc/acc ensures you're building a position in Bitcoin over time.

6. SPAWN is an ERC20 token concept, launched in protest of "tokenizing everything." The main SPAWN token, cheekily named "Sustainable Pyramid of Assets Where No One Loses Money, was deployed with a custom Uniswap v4 hook. Every time someone swapped through the v4 hook, it would launch another SPAWN token with a random name and ticker. These child tokens would have liquidity pools with the v4 hook as well, inheriting the same spawning logic. Each generation had a larger creator tax (the original token took 1% of each trade, its children took 2%, their children 3% etc.).

7. Content in a form of protest to shilling endless "ContentCoins". When users owned at least 1 token, the art would show as an ERC1155 NFT in their wallet automatically, allowing it to be viewed on all marketplaces (where minted Content usually lives). The image was stored on-chain as an SVG and would alternate between 3 states. If the last trade was a buy, it would show a Happy face. If the last trade was a sell, a sad face. If there was no trade in the last 5 minutes, it would return to Content. We created a custom v4 hook that would take a variable creator fee based on trader profit. If the trader >=2x'd, we would receive 10% of their trade when swapping from ETH -> ContentmentCoin. If they broke even or lost money, the creator fee would be 0.

8. FundingWorks is a non-speculative funding model. Creators can create campaigns. Supporters commit ETH to creators, not products. Creators can use the funds as they choose. ETH is held inside a soulbound NFT and vested to the creator over time. Supporters can burn their NFT to withdraw unspent funds, pro-rata.

9. CTO (Community Takeover), where anyone can takeover the token, change the name/image/ticker, and earn creator fees. Token with a 4% buy/sell tax. Fees are split between the CEO (the builder) and the current CTO (Chief Technology Officer).
   Holders can try to CTO the token and update the name/image/ticker by rolling a dice onchain using Proof of Play's vRNG.
   1% of their tokens are burned when they call the function. If successful, the token metadata updates to their submission and they start earning ETH automatically from trades.
   They remain CTO until someone else takes over.

Rhynotic said after CTO: I've also come to terms with not being able to push tokens after release. 

It is important to note that almost every release introduces new mechanics around the token/NFT. All releases are documented in the archive on the website (with dates, honest feedback, “what worked/didn't work”), which is a huge plus for the developers.

PunkStrategy

On September 6, 2025, a post will be published describing the new PunkStrategy ($PNKSTR) project as a perpetual machine from TokenWorks. 

The Yoyo is a simple mechanism for buying and selling Punks while burning token supply, forever.

The launch was not smooth: the website crashed, Twitter was blocked, and the mechanics had to be changed during the process, but the project survived nonetheless.

According Dune

• 1766 Total ETH Trade Fees

• 10599 PNKSTR holders

NFTStrategy

On September 15, 2025, TokenWorks announced NFTStrategy, a system similar to PunkStrategy, but for various NFT projects that will stimulate the PNKSTR token.

The launch took place on September 19, 2025, where they added such strategy collections as:

• $APESTR = Bored Ape Yacht Club
• $PUDGYSTR = PudgyPenguins
• $BIRBSTR = Moonbirds
• $MEEBSTR = Meebits
• $DICKSTR = CryptoDickbutts

The mechanics of the new project are designed to stimulate a floor price of NFTs, the creator of the collection, and the PNKSTR token.

You can follow the ecosystem on Coingecko

or Dune

• $36,431,308 Total STR Fees (Inc'd PNKSTR)

Pros:

1. Simple value loop

2. Scalability to any collection + alignment of interests between IP creators and token holders

3. Support from individual rights holders. According to ApeStrategy, Yuga (Garga) waived 1% royalties in favor of additional BAYC purchases, which reinforces the “floor buying” effect

Risks:

1. Dependence on trading volumes

2. Arbitrage and operational delays at the start of strategies

3. A drop  collections' liquidity reduces the effectiveness of the mechanics

4. Burning 20% of your volume reduces trading activity.

Market Impact

At first glance, nothing unusual. An old Base collection pump. There are many collections on Ethereum in the top 10, allowing it to maintain its lead,..

but volumes are lower than last month.

Let's take a closer look at the impact of the protocol on Cryptopunk sales volumes. I would like to remind you that the protocol was launched in September 2025. Historically, this looks like normal volume fluctuations.

But Punks is an expensive collection, and you need to save up fees for a long time to buy NFTs. In the collection volume rank above, we can see that the largest growth occurred in Good Vibes Club.

Here we see growth comparable to the interest at launch, which nevertheless didn't allow the project to rise above 10th place.

Thus, at this point, the NFTStrategy may increase speculators' activity and attention to individual collections, but there is no reason to say that the protocol significantly affects the NFT market.

This is definitely the most successful of Tokenworks' projects. The first wave of hype has passed, and the project hasn't reached the big leagues or disrupted the NFT market yet, but their efforts haven't gone unnoticed by the crypto community.

Anyway, we wish the developers all the best and will keep following their progress.

Current Gifts' marketcap is $85,965,053.

Total marketplaces fees are $226,013

Top collections by volume

Daily volume in USD by marketplace. Tonnel Marketplace is the leader by USD Volume.

However, most of the volume passes offchain.

Daily New Unique users.

Gifts daily unique traders.

Peer2Pool lending protocols in DeFi (Decentralized Finance) work by connecting lenders and borrowers through a liquidity pool rather than direct matching.

How it works:

1. Lenders deposit crypto assets into a shared pool (the "pool").

2. Borrowers take loans from this pool, typically by posting collateral.

3. Smart contracts automatically manage funds, set interest rates (often algorithmically), and enforce loan terms.

4. Lenders earn interest from the borrowing activity, distributed proportionally to their share in the pool.

This model offers instant liquidity for borrowers and passive income for lenders, removing the need for direct peer matching. Examples include Aave.

Peer-to-Peer (P2P) Lending

P2P lending protocols in DeFi directly connect individual lenders and borrowers without intermediaries.

Lenders and borrowers create loan offers with custom terms (amount, duration, interest rate). Matching is done manually or via smart contracts when both parties agree on terms. Smart contracts manage the loan, holding collateral (if required) and automating repayments. Lenders earn interest directly from borrowers.

This model offers flexibility and personalized loan terms, but usually has lower liquidity and slower matching compared to Peer-to-Pool systems. Examples include Dharma (now defunct) and early versions of ETHLend.

Trust-based uncollateralized lending

Trust-based solutions allow borrowers to access loans without providing collateral, based on on-chain or off-chain reputation.

How it works:

1. Borrowers build a credit profile using past repayment history, wallet activity, or identity verification (via Web3 identity or social graphs).

2. Lenders evaluate borrower trustworthiness using credit scores or trust metrics.

3. Loans are issued without collateral, with smart contracts enforcing repayment terms.

4. Defaults are managed through social slashing, reduced credit scores, or access restrictions.

These systems aim to enable broader financial inclusion but rely heavily on accurate reputation mechanisms. Examples include Goldfinch and TrueFi.

Goldfinch is tokenizing real-world collateral (e.g., invoices, property) and offers non-US investors exposure to private credit, which has long been an attractive asset class for institutions and high net-worth individuals (“HNWI”).

TrueFi offers uncollateralized loans to institutional borrowers, with defaults covered by a staked insurance fund.

Union enables users to establish credit lines based on trust relationships. Members can vouch for each other, creating a network where creditworthiness is determined by social connections rather than collateral.

Fixed-rate lending protocols

Such projects allow users to borrow or lend crypto assets at a guaranteed interest rate for a set period of time.

Lenders deposit funds and agree to lend at a fixed interest rate.

Borrowers take loans with predictable repayment terms, locking in the rate and duration upfront.

Smart contracts manage the loan lifecycle, including interest accrual and repayment.

No rate fluctuation: Both parties are protected from variable market conditions.

These protocols offer predictability and stability, making them ideal for users seeking certainty. Examples include Notional.

Flash loan lending protocols

Users can borrow large amounts of crypto instantly and without collateral, as long as the loan is repaid within the same transaction.

How it works:

1. User borrows funds from a smart contract for a specific transaction.

2. Performs operations (e.g., arbitrage, liquidation, refinancing) using the borrowed funds.

3. Repays the loan (plus a small fee) within the same block.

4. If not repaid, the entire transaction is reverted, as if it never happened.

Flash loans are powerful tools for advanced users, but also carry risks if exploited in poorly secured protocols. Example: Aave.

NFT-backed lending protocols

Users can borrow crypto by using non-fungible tokens (NFTs) as collateral.

How it works:

1. Borrower locks an NFT (e.g., art, collectible, or game asset) into a smart contract.

2. Lender provides a loan based on the NFT’s appraised value and risk profile.

3. If the loan is repaid, the borrower gets their NFT back.

4. If the borrower defaults, the lender can claim and liquidate the NFT.

These protocols enable liquidity for NFT holders without selling their assets. Examples include Gondi, BendDAO.

veNFT-backed lending protocols

Users can borrow crypto using vote-escrowed NFTs (veNFTs)—which represent locked governance tokens—as collateral.

veNFTs are used as collateral to borrow stablecoins or other assets.

Loans are issued based on the veNFT’s value, voting power, and lock duration.

If the loan is repaid, the veNFT is returned. If not, it may be liquidated or ownership transferred.

This model lets users unlock liquidity from governance-locked positions without losing voting power. Example: 40acres.

LP NFT-backed lending

Such protocols allow users to borrow crypto by using liquidity provider (LP) NFTs as collateral.

How it works:

1. Users provide liquidity to certain DeFi pools (e.g., Uniswap V3), receiving LP NFTs that represent their position.

2. These LP NFTs are deposited into a lending protocol as collateral.

3. Lenders provide loans based on the value and risk of the LP position.

4. If the loan is repaid, the borrower reclaims the LP NFT; if not, the NFT can be liquidated.

This allows users to access liquidity without exiting their LP positions. Example: Pac Finance.

Join the chat to deep dive into DeFi

The article provides a methodology for distributing drop among DAO Envelop participants who have supported the project since Blast was released in the testnet.

The first thing to do in such cases is to categorize each of the participants according to some criteria and thereby distinguish several groups of users.

Any partitioning must take into account the transactional reputation (TR). You can try one approach in TR implementation using the Envelop Programmable Asset Protocol.

The Envelop DAO utilizes updatable SBTs with tokens inside that reflect the vote power. In addition, these SBTs are categorized into stages reflecting the time of entry into the DAO. The more tokens a participant has locked in an earlier SBT, the more benefits they member has.

Three groups were highlighted:

• SBT zero queue holders;

• Users who don't have the SBT but have (regular) contact with DAO;

• Users who first learned about DAO through Galxe and other platforms' campaigns.

Each group was allocated a different percentage of the total number of tokens:

1. 50%, as these are the most loyal members of the community (SBT holders);

2. 40%, as these are those participants who are closer to the first group and are involved in the DAO (token holders who follow for the telegram chat);

3. 10%, as this group already received bonuses for participating in the campaign (participants not actively engaged in the DAO).

Such metrics should be defined by the project itself, which uses this methodology, taking into account the interests of the community, the stage of its development, the current market phase, etc.

In the DAO Envelop, it was accepted to take into account the following activities in the first phase of the Blast token drop:

• Claim NIFTSY token in the Blast testnet;

• Create an wNFT (ERC-721 or ERC-1155) in the Blast testnet;

• ETH (Sepolia or Sepolia Blast) donation to the DAO developers' wallet;

• Having the DAO'‘s SBT

• Mint wNFT or NFT in Blast mainnet;

• Buying Menaskop’s NFT collection in the testnet.

All factors were scored at 1 point, but having SBT gives a 2X boost.

Each group received the following score range as a result:

1. 3 to 7

2. 2 to 6

3. 1 to 5

Next, the scores in each group were summarized:

$$ k =SUM (U*S) $$

U is the number of Users, S is the number of scores.

Total of 57 scores were got, which were taken as 100%.

Further, according to the activities chosen above, 50% of tokens for the first group, 40% for the second and 10% for the third were taken and BLAST tokens were divided within the groups:

A total of 57,375 Blast tokens were distributed (Specifies first the scores, then the percentages within the group, and the number of tokens):

1. For the first group

   7 - 12,28% - 3523,026316 - 5 members;

   5 - 8,77% - 2516,447368 - 3 members;

   4 - 7,02% - 2013,157895 - 1 member;

   3 - 5,26% - 1509,868421 - 1 member.

2. For the second group

   6 - 18,75% - 4303,125 - 1 member;

   5 - 15,63% - 3585,9375 - 1 member;

   4 - 12,50% - 2868,75 - 3 members;

   3 - 9,38% - 2151,5625 - 1 member;

   2 - 6,25% - 1434,375 - 3 members.

3. For the third group

   5 - 11,63% - 667,1511628 - 1 member;

   4 - 9,30% - 533,7209302 - 1 member;

   3 - 6,98% - 400,2906977 - 7 members;

   2 - 4,65% - 266,8604651 - 5 members;

   1 - 2,33% - 133,4302326 - 3 members.

It is important to note that active DAO participants are always a minority (usually dozens, rarely hundreds of people), while token holders and chat participants are thousands. Therefore, allocating 50% of all rewards to a limited number of SBT holders is potentially of more value, while 40% for token holders can dilute into hundreds or thousands of people.

After the payouts, DAO Envelop decided to increase the value of SBTs and will from now on allocate 60% of rewards to the first category of participants, 30% to the second, and 10% to the third.

In the Envelop application: app.envelop.is/mintnew a collection of 36 NFTs was created on an individual smart contract: 0x9514B0e9141BBd37Bcd2a4AA11dD4A923a993Da7.

Actually the previous step is not necessary to distribute tokens, but the original NFT would give more value to the drop.

Now in the dApp we wrap these wNFTs and add the previously calculated number of tokens inside.

You can set different time-locks for when a user can unwrap wNFT and get tokens. In our example, we used the same lock time of 60 days.

Such wNFTs remain liquid even though they are locked into token unwrapping. The user can transfer or trade them.

The proposed approach takes into account both quantitative (tasks) and qualitative (SBT of a certain turn) metrics of DAO participants' engagement making the reward system more fair.

Envelop is a multichain programmable asset protocol and NFT oracle.

🌎 Website | 🐦 Twitter | 🗯 Telegram-chat | 🐱 Github | 📢 TG channel |
2️⃣ NFT2 aggregator

📩 Wrapper dApp | 🌾 Farming dApp | 🗂 SAFT wNFT | 🔨 Mint

Let’s deep dive.

1️⃣ Envelop is a pioneer in the NFT2.0 market and is part of the Animoca Brands as of 2021

2️⃣ Envelop has huge expertise in the financial NFT market, constantly collecting data and making it available to Crypto Community for free on the aggregator https://nft2.envelop.is/

3️⃣ Envelop is a programmable asset protocol and NFT oracle. This integration allows for the creation of dozens of new cases expanding the Web3 space https://envelop.is/#audience including the world's first NFTFi explorer that can be run on Blast

4️⃣ As a result of the Envelop protocol, NFTs take on new programmed properties while remaining ERC721 or ERC1155 standards. This process in Envelop is called wrapping, and NFT is called wrapped NFT - wNFT

wNFTs created on the Envelop protocol can be used as financial derivatives:

5️⃣ SAFTs - tradable vested allocations https://app.envelop.is/saft,

6️⃣ Permissionless collateralized Crypro indices https://app.envelop.is/token/81457/0xda4a800f6eb5e84b1a32acbaf8918d76bbe2fc00/60

7️⃣ Liquid farming with no loss of APY

8️⃣ P2P swap with decentralized liquidity

9️⃣ Upgradable SBT, dynamic onchain reputation system designed to Community Building

🔟 Web3 style gifts with Crypto inside and unwrap conditions

1️⃣1️⃣ and even without collateral wNFTs can serve as financial tools (onchain royalty and multi royalty distribution) for DAOs or NFT creators

Use dApp's https://app.envelop.is/wrap advanced mode for this

1️⃣2️⃣ Now Envelop unveils the first on Blast Crypto indexes with dynamic metadata showing the prices of the underlying assets,

Who is more NFTFi than Envelop?

Envelop is a programmable asset protocol

🌎 Website | 🐦 Twitter | 🗯 Telegram-chat | 🐱 Github | 📢 TG channel |
2️⃣ NFT2 aggregator

📩 Wrapper dApp | 🌾 Farming dApp | 🗂 SAFT wNFT | 🔨 Mint

Go to app.envelop.is/launchpad_admin

Click the ”Create a new showcase” button and fill the boxes

Save and proceed

This feature is still in development

If you want to make a fundraising widget, then these three blocks display general information about the project:

1. Project name, a brief description, and links to the project's social networks;

2. information about the token (general issue, ticker, etc.);

3. information about fees (if allowed).

If you want to set up the Launchpad for something other than fundraising, you can configure the settings differently.

Skip the price section, we’ll setup it later

Add a discount if you want

Click the wNFT button to add index

and select the index wNFT

save it

Now click the “Default price” button and set your special price

Now you can buy the first yield-generating index in Blast

Until the end of April, you can buy this index at a 40% discount at this link

So we got an index containing 2 yield-generating tokens. It's not a protocol obligation, it's exactly storing it in your account.

1. 25 USDB, in wasabi vault with a yield of 25% at the time of deposit and 37% now.

2. 25 USDB in USDB/WETH 0.3% V3 liquidity pool with a yield of 16% at the time of deposit and 26% now

You get

• FOMO protection. Tokens are locked until April 19 to follow a pre-selected strategy

• Save time on protocol selection, risk assessment, rate tracking

• Reduced risk compared to investing in several protocols on your own, where you are more likely to make mistakes or get phishing link.

Envelop is a programmable asset protocol

🌎 Website | 🐦 Twitter | 🗯 Telegram-chat | 🐱 Github | 📢 TG channel

📩 Wrapper dApp | 🌾 Farming dApp | 🗂 SAFT wNFT | 🔨 Mint

Blast is an incredible blockchain, your stablecoins and ETH are already generating revenue on this network. But this is too easy a path. I will show you a solution to create yield-generating assets indexes suitable to almost any EVM network.

Lending liquidity is one of the most convenient ways to earn in DeFi.

We have $50 in our account that will be used to create the index

In order to use capital more efficiently, we will select projects so that our multiplier is maximized.

In the category of exchanges, I chose Thruster Finance. Go to Thruster Analitycs and choose a pool.

You can use different approaches to select pools, I will take the pool that earns the most fees as an example, USDB/WETH 0.3% V3.

So I add liquidity in pool (Here you can find the guide)

This is how this LP-NFT looks in the Envelop NFT Oracle

Now we have 2x Multiplier for Blast points

Ok, let’s select projects in perp DEXes

I chose Wasabi. Go to Wasabi and select a vault.

I deposit to Wasabi USDB Vault my ERC-20 USDB and get Wasabi USDB Vault ERC-20 Token

and now we have 4x Multiplier

Now we just wrap our yield-generating assets assets in an NFT vault using the Envelop protocol.

Some will ask why? But it is currently the only permissionless way to create a collateralized derivative in the form of an index. You don’t get a third party (broker, exchange and other custodian) representation of your assets, but an NFT that literally contains your assets. This NFT is fully compliant with the ERC-721, ERC-1155 standards.

I wanted my index to have an attractive cover, so I pre-minted an AI-NFT for it here

Now go to Envelop wrapper dApp and add your NFT in Advanced mode

Add our yield-generating assets

You can leave the other settings as default, but I usually turn on the timelock to follow a predefined investment strategy and not to give in to fear. In this case, your index will remain liquid, you can trade it, but you will not be able to unwrap and take out the collateral until the lockup ends.

Click the Wrap button

This is our transactioin

https://blastscan.io/tx/0x005ab6ccc5c723a04ab6116a27a6496d113b5f447335014f4aee594d0f8906cd

and this is our wNFT index

Envelop is a programmable asset protocol

🌎 Website | 🐦 Twitter | 🗯 Telegram-chat | 🐱 Github | 📢 TG channel

📩 Wrapper dApp | 🌾 Farming dApp | 🗂 SAFT wNFT | 🔨 Mint

This is a short overview of the NFT2.0 projects from the Blast ecosystem. The projects are selected from the NFT2.0 aggregator. The information below does not constitute financial advice.

Any project that expands the field of creation and utilization of NFT will be categorized as NFT2.0.

• Network filter or you can go to direct link for Blast n

• Project type filter: protocol, oracle, index (this includes dynamic NFTs among others)

• Tags filter in project cards (click on the “NFT derivatives” tag, for example, and see all projects with this tag in the selected network)

If your project extends the reach of NFT you can add it to the aggregator free of cost by filling out the form

In this section we will look at NFT derivatives of any type.

• Doubler is a gain strategy protocol that optimizes crypto asset investment and minimizes risks while pursuing certain profit. Doubler serves as a storage tool for users' crypto assets. By depositing supported cryptocurrency assets in Doubler, users can lock in their value, eliminate unnecessary market risks, and receive a reward at the end of the protocol. Doubler reallocates crypto assets within the protocol, and the rewards received by users come from the profitable part in the market.

• Envelop is a programmable asset protocol. Based on the protocol, you can create derivatives with customizable functions in a few clicks. In combination with the Envelop NFT oracle, you get a huge number of cases that do not require development, from dynamic SBTs to vesting NFTs and collateralized derivatives.

• NFTperp is a perpetual futures DEX for NFTs. It launched in 2022 on Arbitrum now starting in the Blast network. nftperp v2 introduces a transformative liquidity protocol called Fusion AMM that combines the strengths of automated market makers (AMMs) and on-chain decentralized limit order books (DLOBs). The insurance fund operates as an ERC4626 vault, allowing for easy liquidity contributions.

• Nibbl is a web3 protocol that lets you make editions of your NFTs. With Nibbl, you can make NFT editions, and create a community of like-minded collectors who also own these NFT editions.

• NFTFeed, is a multichain NFT platform that combines finance and Web 3.0 to enhance the intrinsic value, liquidity of NFT and the Defi market. NFT liquidity allows users to add NFTs to a liquidity pool and receive LP tokens in return. Aggregator farming allows NFT to engage in a variety of lending, borrowing, and farming activities, optimizing the use of assets held by NFT and potentially increasing its market value. NFT Future Contract allows users to lock their future assets into NFT and set a future price, offering a unique way to sell and trade digital assets.

• Wasabi is an asset-backed NFT derivatives protocol. There are three different derivatives of the product in the range: Wasabi Perps, Wasabi Options, Liquidity Aggregation (Buy Now - Pay Later)

  Wasabi Perps allow for long and short-term liquidation trades based on on-chain index price.

  Wasabi options allow traders to set long or short positions before the expiration date without any liquidation issues.

  Wasabi offers a liquid NFT derivatives market through liquidity aggregation, matching buyers with the most favorable terms across all NFT protocols to provide them with long and short positions.

This section presents protocols for borrowing against NFTs as collateral.

• MetaStreet is a permissionless lending protocol for on-chain collateral. MetaStreet structures high yield sources into a tradable asset. Structuring is accomplished through MetaStreet v2: Automatic Tranche Maker ("ATM"), a permissionless NFT lending protocol that automatically organizes capital into a pool based on the risk and return (rate) profiles of depositors. The ability to trade assets is enabled by the Liquid Credit Token ("LCT"), a liquid, composite ERC-20 representing each lender's position in the pool.

• PumpX Multichain Consumer Liquidity Protocol - a lending protocol that integrates financial liquidity and facilitates consumer adoption of financially backed cryptocurrencies. PumpX Marketplace Aggregator, a flagship application built on top of the liquidity protocol that serves as an early adoption interface for everyday users. PumpX's peer-to-peer loan matching model will utilize more innovative ways to create assets and liquidity for non-blue chip tokens/NFTs.

• Ajna is a peer to pool, oracleless, permissionless lending protocol with no governance, accepting both fungible and non fungible tokens as collateral.

This section presents the positions of liquidity providers in DEX pools tokenized through NFTs.

• MonoSwap has integrated LP-NFT and Maestro's innovative technology and concentrated liquidity managers into the V3 AMM to improve and expand trading capabilities. Non-fungible yield-bearing staked positions serve as an additional layer above regular LP tokens, incorporating new features that benefit both users and protocols:

  • Dynamic Handling of Locks and Yield Boosts: Manage locking on staked positions and the accompanying yield enhancements.

  • Increased capital efficiency by implementing a variety of custom staking strategies.

  • Reusability, both within their protocol, exemplified by pools, and through the potential for external implementations.

• RogueX is a Blast native AMM designed to capitalize on underutilized assets in traditional AMM liquidity pools. It goes beyond standard spot trading by introducing perpetual trading within the same pool. RogueX extends the concept of concentrated liquidity (LP-NFT) to create a decentralized exchange that leverages these untapped reserves. In this way, RogueX provides users with an enhanced trading experience, reduced slippage, and increased capital efficiency.

• Thruster is a degen-first DEX. With the ability to utilize custom curves, several new features and related products can be built on top of Concentrated Liquidity (CL):

  • Automated Liquidity Managers: Because the Uniswap v3 design allows for dynamic liquidity management, protocol and strategy managers can create vaults that accept liquidity and adjust custom ranges based on market conditions to maximize fee.

  • Limit Orders: Custom price ranges in Uniswap v3 allow you to create limit orders that sell or buy assets at specific price points, providing greater control over trade execution.

  • Options: CL protocols can be used to efficiently create options like range payouts.

The social profile and connections tokenized through NFT are presented in this section.

• Alpha Club is a Blast native yield bearing whisper listening marketplace that aims to be the de facto place to voice and exchange voices in cryptocurrency. Users can create clubs (which can later be turned into NFTs), trade access to clubs like stocks, and upload/record voices or place voice spaces in these clubs. Access to a club is represented by a "card" that conforms to the ERC-3525 standard. Thus, the card can be linked to items off-chain, making it a repository for items such as IDs, coupons, Airdrop points, or even access to NFC-enabled devices, opening up real-world use cases. Cards can be traded against a bonding curve (the user can buy/sell them at any time without a counterparty) or traded as NFTs on other platforms.

• UPTO3 is based on the concept of event knowledge graph, which builds and utilizes event graphs to provide users with complete and accurate event correlation information, thus supporting various intelligent applications and decision analysis. With the help of artificial intelligence technology, UPTO3 efficiently extracts event elements such as subjects, time and event content from big data. In addition, the system intelligently establishes relationships between events, providing a solid foundation for building an event knowledge graph. The event will be released as an NFT. Event consensus will be achieved through verification tasks. Decentralized validators perform verification tasks to get rewarded in the form of tokens. Features Blast (L2), all gas generated by verification goes into the reward pool.

ERC-404 is one of the approaches aimed at solving the problem of liquidity of illiquid assets.

• Blachhh is a collection of 10,0000 unique tokens. Blachhh is creating a new era of semi-fungible tokens with their own liquidity and fractionalization.

• Blastroid coming to Blast with a combination of ERC721 and ERC404. A cyberpunk game is in development, promising a deep, immersive experience with NFT Blastroid taking center stage. The first generation Blastroid NFT features BlastroidApes, each with unique traits and designs and minted as ERC-721 tokens. To enhance the value and uniqueness of Blastroid Apes, ERC404 enhancement tokens are presented, available in several rarity options: Rare, Mythic, and Legendary. Combine your Genesis ERC721 with ERC404 to level up and evolve your ERC721 NFT. Owners can combine a Genesis 1 NFT with an ERC404 token to unlock an enhanced version of their NFT, increasing its aesthetics, rarity, and utility in the Blastroid ecosystem.

• BLASTR NFTs combine ERC721 standards with a unique twist. Minting involves locking ETH into an NFT contract for a certain amount of time. After the lock-in period ends, these NFTs are effectively free as you can get a full refund.      Simply request a refund, the NFT will be burned and your ETH returned, making NFT ownership flexible and risk-free.

NFTs created through the efforts of many participants fall into this category. Such NFTs are also called collaborative NFTs.

• 50x50 is an application in which people jointly make NFT

ERC-6651 is a new standard for NFT token development, aiming to enhance functionality, security, and interoperability. It introduces token-bound accounts (TBAs) that can hold tokens and other NFTs, interact with smart contracts, and change based on external factors or user inputs.

• Mangrove is an EVM-compatible order book-based exchange protocol, in which offers can be bound to a smart contract. Membership in the DAO is represented by ownership of NFTs (ERC-721). There is a collection of NFTs for each of the governance groups.Each member's NFT is managed by a TBA (ERC-6551), and this TBA in turn receives tokens to represent the member's attributes, such as its Activity Score (ERC-20, relevant only for Builders and Pods).To allow members to retain their membership NFTs after leaving Mangrove, they model active membership by issuing an "Active Badge" token to TBA as part of a multi-token contract (ERC-1155); when a member leaves the group, the active badge is burned.

Envelop is a programmable asset protocol.

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