In the tide of encryption technology, Crypto Review came into being. Initiated by cryptogram venture (CGV)FoF, with the purpose of “providing in-depth value reference for global encryption practitioners,” crypto review is committed to providing detailed industry insights, the best investment and research practice guidance to encryption professionals and enthusiasts all over the world, And expand the positive impact of encryption consensus on more institutions and the wider population.
Crypto Review is not for profit and adopts the recommendation and invitation system. The content covers 1—encryption trends. Pay attention to the technology, management, industry, and even macro factors that will affect the behavior of the encryption industry; 2—overview of the track. Share the latest Overview Research and analysis based on a specific vertical field; 3. Project analysis. Comprehensively and deeply interpret the early dark horse project and star project, and systematically interpret their design concept and mode.
The following is a selection of crypto review articles (January 2023)
【TRENDS】
The Road to One Billion Users of Web3 Applications
initial public publication time: January 26, 2023
Original link：
Shigeru Head of CGV Research
CR Recommendation
What are the areas where real Web3 applications that scale to a billion users might be born? The article argues that the underlying value of Web3 lies in its unlicensed and global nature, which provides a free market of unprecedented scale and boundaries. In contrast, the open source code and verifiability of data offer a lower cost of trust for this great free market, and thus prosperity is born. “The success of Web3 applications is based on the digital elements of “freedom” and “trust,” and the verifiability of business logic, all three of which are indispensable. And based on this, it proposes the “Unicorn Growth Index” for Web3 applications.
Block Builder Decentralization is coming, but maybe not so soon
initial public publication time: January 23, 2023
Original link: https://bittokoin.substack.com/p/block-builder-decentralization-is
BallsyAlchemist (@ballsyalchemist)
Invest & research @fenbushi | Advisor @3czX_seA | Intern @internDAO
CR Recommendation
Ethereum strives to be the most censorship-resistant, permission-free, and trust-free blockchain, but any centralization factor can compromise these attributes. How centralized is the current block built, and why do we need to decentralize it? The authors list the main issues such as Exclusive Orderflow, Censorship, Centralization due to network effect, Competitors’ exclusive Orderflow, etc., and explain why some problems are essential and others are not.
【FIELDS】
The Real-World Asset revolution in DeFi: Understanding the Current State & Potential of RWAs
initial public publication time: January 24, 2023
Original link: https://ignasdefi.substack.com/p/the-real-world-asset-revolution-in
Ignas | DeFi Research (@DefiIgnas)
In-depth insight on DeFi
CR Recommendation
The Real-World Asset (RWA) revolution in the DeFi fields is quietly emerging. The emergence of RWA lending protocols has enabled lending outside of the revolving crypto world and opened up the potential for DeFi lending to grow from tens of billions of dollars to a $1.6T TradFi private credit market. This paper provides a detailed analysis of the current state and potential of Real World Assets (RWAs). It shows that authentic asset protocols in DeFi have the potential to revolutionize the lending market and provide new opportunities for investors to achieve higher returns and diversification. It remains to be seen if the new narrative of RWAs will usher in a new summer for DeFi.
Surviving the Perfect Storm: 2022 End of Year Mining Report(Excerpt)
initial public publication time: JANUARY 25, 2023
Original link: https://www.galaxy.com/research/whitepapers/2022-end-of-year-mining-report/
Brandon Bailey (@bitcoinbeezy)
Mining Associate at Galaxy Digital
Brandon focuses his time on research, strategic investments, and special projects. Previously, he was the Director of Multi-Family real estate acquisitions and investments at Kettler.
Simrit Dhinsa
Mining Analyst at Galaxy Digital
Simrit is an Analyst on the Mining team. Prior to Galaxy, he worked at Citigroup as an Analyst on the US Treasury trading desk and then Agency CMBS trading desk. He graduated from Carnegie Mellon University with a major in Finance and minor in Computer Science.
Guillaume Girard
Mining Analyst at Galaxy Digital
Guillaume is an Analyst on the Mining team. Prior to Galaxy, he worked at the Bitwise Asset Management Research desk with the responsibility of covering publicly traded miners. In addition, he worked at the Cambridge Centre For Alternative Finance, helping to develop their CBECI index and comparison page. He also worked for the Analyst Program at Messari.
CR Recommendation
This 2022 crypto mining industry report by Galaxy Digital not only does it address the dilemmas facing the capital markets and miners/mining companies in 2022 and the various strategies they are taking to increase their earnings, but more importantly, it lists new opportunities and trends in the bitcoin mining industry in 2023. Notably, the report notes that miners could consider lightning networks as a way to earn additional revenue from their bitcoin holdings. This is because lightning networks offer the opportunity to generate bitcoin-denominated earnings with minimal counterparty risk while also helping to support the broader bitcoin ecosystem.
【PROJECTS】
Big water feeds big fish, why LSD is a $100 billion business volume track
initial public publication time: January 20, 2023
Original link: https://medium.com/@basicscapital/basics-capital-big-water-feeds-big-fish-why-lsd-is-a-100-billion-business-volume-track-5b4fcdb55a93
Tim
Invest & research @@BasicsCapital
CR Recommendation
The LSD (Liquid Staking Derivatives) section has performed very well under the shadow of the bear market in the venture capital market amidst the macrocycle of global monetary tightening. As a DeFi derivatives track that grew up with the ETH 2.0 upgrade, LSD has not formally entered the mainstream DeFi vision before, but with Lido’s TVL surpassing MakerDAO to leap to the top of the DeFi list and the asset size of RocketPool, Stakewise and other products expanding, LSD will grow into a $100 billion business volume race track. This article systematically introduces the LSD track panorama from the current pledge status of the ETH 2.0 market, the working principle of LSD protocol, the development of LSD track, the ecological opportunities of LSD track: DVT and Restaking technology, etc.
A comprehensive explanation of the AAVE protocol native stablecoin GHO
initial public publication time: January 27, 2023
Original link: https://pt1mfv.notion.site/GHO-AAVE-Stablecoin-18b4d7e7981a4a01b191cee059c1acd5
Paul Timofeev (@pt1mfv_)
Community Lead of Web3Lab, Enthusiasts for blockchain and decentralized applications
CR Recommendation
In 2022, the GHO stablecoin was first introduced at the AAVE Governance Forum, sparking huge interest across the DeFi industry. There is no doubt that the launch of such a decentralized, collateral-backed, and USD-pegged AAVE DAO-native stablecoin idea by AAVE, the top lending marketplace in the Defi ecosystem, makes a lot of sense and has led to the protocol-native stablecoin being seen by many as an important emerging narrative for 2023. This article analyzes the mechanics of AAVE’s upcoming protocol-native stablecoin, GHO, and its impact on the AAVE protocol and the DeFi ecosystem. Can the GHO stablecoin help AAVE surpass MakerDAO and DAI? the answer may be this year.
Download: https://www.cgv.fund/file-share/284ee330-748b-4715-85c1-e1e5af69f4c5
About Cryptogram Venture (CGV): CGVCGV FoFCryptogram Venture (CGV) is a Japan-based research and investment institution engaged in crypto.With the business philosophy of “research-driven investment”, it has participated in early investments in FTX, Republic, CasperLabs, AlchemyPay, Graph, Bitkeep, Pocket, and Powerpool, as well as the Japanese government-regulated yen stablecoin JPYW, etc. Meanwhile, CGV FoF is the limited partner of Huobi venture, Rocktree capital, Kirin fund, etc.From July to October 2022, it launched the first TWSH in Japan, which was jointly supported by the Ministry of Education, Culture, Sports, Science and Technology (MEXT), Keio University, SONY, SoftBank, and other institutions and experts. Currently, CGV has branches in Singapore, Canada, and China. and China.