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Good guy Vitalik

May 14th, 2021

Mark Twain once wrote, “Truth is stranger than fiction, but it is because Fiction is obliged to stick to possibilities; Truth isn’t.”

Stranger than fiction hardly begins to describe this week. Here’s a few of the highlights:

In the wake of DogeCoin hype, several knockoff memecoins such as Shiba Inu coin ($SHIB) went parabolic. Vitalik Buterin, who was given sizable parts of the memecoins’ LP tokens, generously regifted the $1.2B sum to Covid-19 relief in India. (Coincidentally, the Covid-19 relief fund was organized by Polygon co-founder Sandeep Nailwal, and this week we published a client-only analysis on Polygon.)

Hours later, strange got even stranger. Only days after satirizing DogeCoin as the host of SNL, Elon Musk launched a bomb on Twitter, announcing Tesla is ceasing its involvement with bitcoin due to environmental reasons. The tweet alone sent crypto markets into a swift downward spiral. (Evidently, Elon hasn’t seen our report on how bitcoin can incentivize renewables investment.) As of mid-day Friday, things appears to have stabilized but most major coins besides Ethereum are down over the past 7 days.

We explored the week’s events in our revamped Delphi Daily format. Don’t miss our data on the dog memecoins, crypto exchange liquidations following the Musk tweet, and some key DeFi metrics. (The last is this week’s free Daily and available to all.) For clients, we also have fresh analyses on NFT platforms, the Polygon ecosystem, and yield farming strategies. Institutional clients can see even more depth on Polygon in our bi-weekly analyst call.

Meanwhile, in Delphi news, we had a few exciting announcements. Delphi launched the first on-chain NFT fund called “Delphi INFINFT” which will be run by our team and famed NFT collector Gmoney. The fund was made possible by our portfolio company Syndicate, which automates deposits, capt table management, and distributions with smart contracts. In additional, our friends at PLAY-TO-EARN also released a documentary about Axie Infinity, detailing how “play-to-earn” games are helping rural communities around the world. Plenty of alpha to dig into over the weekend.

Stay degen,

Nick
@NpappaG

PS – Next week we’ll be announcing some exciting changes to our newsletters. Stay tuned.

Here were the highlights from this week’s research:

Delphi Bi-Weekly Analyst Call (May 11th, 2021)

  • We recently hosted our live, bi-weekly analyst call on May 11th, where we discussed our recent reports on Polygon and NFT Platforms.
  • Delphi Institutional subscribers & clients can watch the webinar replay here.

[Delphi Daily] Dog Coins, Liquidations, and Metamask’s Fee Capture

  • Uniswap v2 trading volume dominated by memecoins.
  • Futures and perps liquidations over the last three days.
  • Perp Protocol recapitalizes its insurance fund.
  • Metamask earns nearly a million dollars a day in swap fees.
  • Delphi Daily subscribers & clients can see the full brief here.

Delphi Ventures Portfolio Showcase: April 2021

  • April, 2021 has been an outstanding month for Delphi Ventures as numerous portfolio companies released new integrations and products as well as eclipsed protocol all-time highs across several metrics.
  • The Showcase is available to all readers here.

[Research Report] Ranking NFT Platforms: A Guide For Brands

  • For organizations interested in pursuing a NFT strategy of their own, Ethereum is arguably the best ecosystem to launch it on.
  • The decentralized nature of Ethereum provides the network with its primary benefits, such as security, immutability, and transparency.
  • There’s just one big problem at the moment holding, it and your plans, back from prime time – scalability.
  • There are scaling solutions for Ethereum and alternative networks that can help you accomplish your goals. The purpose of this post is to compare those options across key criteria.
  • Delphi Institutional subscribers & clients can read the full report here.

[Delphi Daily] Sushiswap on Polygon, ETH Outperforms BTC, and Rising Gas Prices

  • Sushiswap volume and liquidity on Polygon.
  • Top Sushiswap pools on Polygon.
  • ETH hits multi-year high against BTC.
  • Gas prices 3x in just a few hours.
  • Delphi Daily subscribers & clients can see the full brief here.

[Research Report] Polygon: The Swiss Army Knife of Scaling Solutions?

  • Polygon now secures ~$3.5B in total value split across their PoS chain (~$3.1B) and Plasma (~$400M). Most of the growth has happened over the past month, driven by a high gas fee environment on Ethereum.
  • While estimates vary on throughput potential, Polygon’s PoS chain was able to reach 7,200 TPS on testnet with 100 validators.
  • Polygon’s development roadmap includes added support for ZK-Rollups, Optimistic Rollups, Validium Chains and more Sidechains.The end goal is to become a “L2 aggregator”, putting it in a unique position which stands to benefit greatly from the vast ecosystem already growing on it.
  • In this report we dive into Polygon’s design, the rapidly growing ecosystem and its ambitious plans. From the perspective of the Big 4, is Polygon friend or foe?
  • Delphi Institutional subscribers & clients can read the full report here.

[Ethereum] Yield Strats #11

  • In this week’s edition, we cover yield farming opportunities for Adamant on Matic, Raydium on Solana and HyperJump on Fantom.
  • Delphi Insights and Institutional subscribers & clients can see the full brief here.

Delphi Daily Of The Week

[Delphi Daily] ETH Supply in Smart Contracts, YFI Heats Up, and DeFi’s Consistent Growth

  • YFI leads the latest DeFi rally.
  • Uniswap records highest ever daily volume.
  • Top 3 lending platforms hit $20 billion in outstanding loans.
  • ETH supply in smart contracts consistently increases.

Get The Full Daily for Free

Featured Podcast

Host Piers Kicks and sits down for Episode 26 of Metaverse Musings with Mark Laursen, the founder and CEO of Bright Star Studios who are building a game called EmberSword.

 

 

As mentioned, we will continue to iterate on the design of our Delphi Debrief based on your feedback—so please let us know which section you enjoy the most and what else you’d like to see!

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