Dr.DODO brings you our newly launched weekly brief - DODO Megascope, which covers the following sectors:
As the crypto market enters a bear market cycle, users’ willingness to speculate has declined, and data such as block space requirements, active addresses, and DEX transaction volume have all declined. As the network transitions from proof-of-work (PoW) to proof-of-stake (PoS) in progress, the ETH staked on the beacon chain in the second quarter showed a growth trend; on the other hand, with the increasing popularity of PFP NFT, the average number of NFT daily active traders in the second quarter increased significantly, and the NFT transaction volume soaring, the "bear meme" led by Globlintown, has become the main driver of this round of NFT growth.
Ethereum network revenue dropped by 33.4% due to falling demand for block space. EIP-1559’s new fee burning mechanism reduced ETH inflation by 37%. Beacon chain staking increased by 177.5%, due to increased integrations of liquid staking derivatives(LSD) into different DeFi Protocols.
The decline in user risk appetite caused DeFi TVL to drop by 42.4%. Stablecoin circulation supply increased by 43%, due to newly issued stablecoins, and increased trading or leverage demand. Perpetual DEX transactions increased by 598.5%, mainly coming from dYdX. Although the Luna incident and the market pressure brought about by the excessive leverage of institutions, Compound, Aave, and Maker have all withstood the test of liquidation, with a total liquidation of $460 million.
NFT market transaction volume soared 2439.2%, daily active users increased by 1114.5%, indicating increased PFP penetration; Bored Ape Yacht Club (BAYC) floor soared 3844% — from 2.50 ETH to 98.60 ETH.
TVL on L2 increased 896% from $374.17M to $3.72B. Arbitrum revenue hit $8.2M, while Optimism hit $5.58M.
Data Source：Bankless 《State of Ethereum Report — Q2, 2022》
In this Delphi Podcast, John Adler (Co-founder of Celestia) and Dankrad Feist (Researcher at the Ethereum Foundation) took a technical deep dive into designing modular blockchain stacks.
@spengrah talks about the concept of governance is more about taking action than making decision:
Analysis of why MakerDAO's governance is a bad design from a game perspective: