0xJamesXXX

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JamesX On-Chain Observation Diary 🧙‍♂️ 5.22

This morning, we finally reached the ATH for Bitcoin. First, I wish everyone to have more and more Bitcoin in hand.

Then, Cetus was hacked at night, and the SUI ecosystem collectively collapsed. I can only wish everyone to always keep their funds safe and not be stolen.

Below is a review of yesterday's on-chain projects + a brief discussion of new alpha opportunities👇

1️⃣ Last night, a pre-sale big truck was launched
ibRLJrmgVuZh3tdDpjGgU5CQCCxpxuer7B7ckjGdLsv

$IBRL is @gavelxyz's test coin. During the pre-sale, toly retweeted its content and pinned it. Although the pin was later removed, he still clearly supports this project.

First, this platform solves problems like sniping and squeezing in pre-sale projects. Toly himself expressed a willingness to issue personal tokens on such a fair platform.

Secondly, $IBRL will continuously buy back and burn tokens. The burn address and mechanism can refer to this tweet by @0xCryptoFries.
https://t.co/0sXo9FIXuy

Thanks to @Nyenchenpepe @LeotheHorseman @raylin51 cx for telling everyone to get on board, making money themselves and clearly explaining what happened, which is greatly appreciated.

Additionally, this token's trading volume is astonishing, and the pool returns are not small. If you missed the first wave of price increase, you can give it a try.

2️⃣ Good news for $B continues to pour in. Yesterday it was listed on Binance alpha, and today it was purchased by Trump. Then Binance announced USD1 was available in spot trading, and the crazy pump mode started again.

Congratulations to all the brave ones who dared to chase the highs! After understanding the logic, daring to chase means endless opportunities for gains.

The bull market is here; it’s time to show imagination and courage. What’s wrong with conspiracy trading? I love playing conspiracy trades.

Also, @EnHeng456 is amazing!

3️⃣ The believe platform is up to its tricks again. (All are beasts)

This dev @avipat_ did some gimmicky stuff and then launched a coin. @pasternak replied with 👀, and it surged to 3m at one point.

As a result, the dev opened a space and changed the ca, directly pushing down the previous 3m ca. Logically, everyone should have lost trust in this platform, at least in this dev, but the “untrusted” new ca continues to push for higher prices.

At the same time, several ca narratives about fuck jail emerged, with the best performer being BWKqYfgC9SiiSJ8Rrynu7P5xrswwsqNxWmS87rFRpump, but it immediately dropped to zero upon selling lexapro.

Everyone shouts disbelieve, but their actions tell a different story. Perhaps it’s the aftermath of getting used to seeing dev backgrounds due to the ai meme season, or maybe it’s the result of too many projects being born on-chain in recent months, making everyone like startled birds. Without a so-called trustworthy high-IQ white male dev, people still hesitate to participate, even if we have no idea whether this dev will do harm or not.

I look forward to a future where people are really willing to bet on an interesting meme or a good ticker.

4️⃣ Virtual is about to launch a pure meme, which will airdrop to wallets that frequently interact on base. Even the old OGs, who may be too lazy to participate, can check their old wallets for some dinner money. The oversubscription multiples for such star projects are quite large; if you participate in the pre-sale, it should be a sure win if calculated in $virtual terms, but the utility of points may be lower than other projects. Right now, points are more precious than $virtual, and this design of game theory is truly fascinating.

5️⃣ @nockchain has started mining, and I recommend a few tutorials

https://t.co/jVOjZ3lekI
https://t.co/xCNAAxM3n9
https://t.co/ecF6aw9XPw

Some resign from their posts and return home, while others rush to the examination hall at night. There’s no need to envy the big shots with more Bitcoin; the casino is always open.

(If you find this series of content helpful, feel free to like and leave a comment to support! I hope to make this a long-term daily update!)

Many people call @humafinance PayFi PayFi

Including the recent airdrop shares promised through collaboration with Kaito, Huma has greatly ignited everyone's attention on the PayFi track.

However, I still ask everyone to first understand the differences between various types of projects within the PayFi track; I even feel that these projects are theoretically not in the same track.

👇

1⃣ Payment projects that connect crypto assets with real-world consumption

This is easy to understand, as it supports users to complete traditional consumption in the real world using crypto assets. For example, all U-card projects such as @0xinfini, Bybit's U-card, Bitget/Morph's U-card, etc.

The core of these projects still relies on deposit attraction + asset management + trading fees for profit, and generally, the expectation for issuing tokens is not strong.

The core difficulty of these projects lies in the clearing and compliance issues of on-chain assets and the off-chain banking system in the payment process.

2⃣ Pure cryptocurrency payment

This is something many people use, in fact, all CEX internal transfers, Binance Pay, OKX Pay.

Even all on-chain stablecoin projects can be considered part of this track.

Because the cryptocurrency transfers made between individuals for trading/payment purposes are primarily based on stablecoins.

The core of these projects lies in the convenience of transfers between both parties, as well as the construction of social scenarios based on these payment relationships.

3⃣ Projects like @humafinance that profit from cross-border payment settlements

In theory, this has nothing to do with ordinary payments and should be classified more as part of the ceDeFi track.

It relies on fundraising from on-chain projects, then operates in a more centralized manner, with most of the funds used to profit in off-chain scenarios.

This kind of project should actually be considered in the same track as @ethena_labs; it’s just that they have different means of profit after acquiring funds. It really has little to do with PayFi itself.

. @cookiedotfun The snaps feature launched today

The most core guidance for the market is: in the future, content posted on CT can also be tokenized.

This is essentially the same as the tokenization of on-chain activities for the '毛党' (毛党 refers to people who engage in a behavior to maximize profits from airdrops).

Project teams can use almost zero-cost tokens (with airdrop expectations)

to exchange for content creation and promotions from KOLs and regular users on CT.

The ultimate outcome is that content on CT becomes worthless.

Today, the Genius stablecoin draft was preliminarily approved, igniting everyone's attention and enthusiasm for the stablecoin sector 🔥

Coincidentally, there is a very prominent project in this sector in Asia, @veloprotocol, which has just officially announced a strategic partnership with the well-known regulatory blockchain infrastructure platform @Paxos, integrating Lift Dollar (USDL) into the Velo ecosystem.

Therefore, taking advantage of this industry hotspot, I would like to explain the strategic significance of this collaboration 👇

Let's first introduce the three concepts of Velo Labs, Paxos International, and USDL in detail separately.

1⃣ Velo Labs

is an innovator focused on Web3 financial infrastructure, dedicated to promoting PayFi and the tokenization of real-world assets (RWA) through blockchain technology. It aims to provide efficient and secure financial services to global users through a decentralized clearing network and cross-border stablecoin system, with its core stablecoin product being USDV.

Velo has performed exceptionally well in the Southeast Asian market, not only being a leading enterprise in the PayFi and RWA fields in Southeast Asia, but also showing significant potential when compared to the leaders in these two sectors globally.

2⃣ Paxos International
is a regulated blockchain infrastructure platform known for its stablecoin products (such as Pax Dollar and Pax Gold). The company is committed to compliance and has obtained regulation from the New York State Department of Financial Services (NYDFS), the Monetary Authority of Singapore (MAS), and the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market.

3⃣ Lift Dollar (USDL)
is a newly issued stablecoin by Paxos, regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), ensuring that its issuer, Paxos, has ample liquid assets available for 1:1 exchange with the US dollar.
The unique position of USDL is that it is the industry's first regulated interest-bearing stablecoin. The characteristics of being “regulated” and “interest-bearing” may not seem significant when viewed separately, but if these two features can be successfully combined, it can pose a dimensional reduction strike against other projects that are either just “regulated” or just “interest-bearing,” making it highly attractive to both traditional DeFi users and institution-level clients with high compliance requirements.

In this light, the significance of the partnership between Velo Labs and Paxos International speaks for itself:

Paxos can leverage Velo's advantageous position in the Southeast Asian market to promote the first regulated interest-bearing stablecoin USDL, while Velo can showcase the stability and investment appeal of its ecosystem to compliance-focused institutional clients during this collaboration.

Opportunities for Traders

Under this cooperation, the usage rate and trading volume of USDL will naturally increase, bringing some hidden wealth opportunities. There is a platform offering everyone a way to benefit multiple times:

The @0xCoinshift platform uses USDL as the underlying support and employs @MorphoLabs' lending yield as the interest-bearing strategy to issue $csUSDL.

$csUSDL was launched last month on the @pendle_fi platform, providing two yield models:
PT-csUSDL —— enjoy fixed yield;
YT-csUSDL —— enjoy 30x SHIFT points bonus (the highest points bonus on the pendle platform), along with variable APY yield.

Additionally, there is also the option to choose the LP csUSDL yield model as a compromise between the first two models.

Long-term Vision

This collaboration not only brings higher-quality stablecoin assets to Web3 users in Southeast Asia but also provides enterprises with interest-bearing assets as an alternative to the highly volatile DeFi native rewards. Furthermore, it could potentially compel other stablecoin projects to also consider “interest-bearing” as a necessary condition, setting a new standard in the stablecoin industry.

This collaboration showcases Velo Labs' immense ambition and firm determination to pursue a compliant path, and we may be witnessing the rise of a world-class challenger in the PayFi and RWA fields.

Just now, a friend asked me about my views on the DeFAI track.

It's a tool that helps you perform a series of on-chain DeFi operations using natural language.

Personally, I am not optimistic about this track. Let me give you an example from everyday life to help you understand 👇

You can think of the entire DeFi ecosystem/on-chain ecosystem as a smartphone.

Inside, there are various apps that can help you complete different tasks.

When you use your phone, all the operations that require you to touch the screen with your finger are like the repeated clicks that a regular on-chain user needs to perform.

However, we also know that current smartphones all have AI voice assistants.

Using natural language to let AI assist you in performing on-chain DeFi operations is actually equivalent to using a voice assistant to help you complete an operation on your phone.

Now, think about it, in what situations do you use your phone's voice assistant?

At most, I just ask it to set an alarm or check the weather.

Because it's simple enough, I am also certain that this instruction will not go wrong.

So, do you think there are any complex commands that you would let an AI, which cannot be responsible for the safety of your funds, execute for you?