陈剑Jason

Tonight's Semantic is another project that launched simultaneously with Binance Alpha+ contracts. Semantic only raised 3 million USD in seed funding, but secured investment from top institutions HackVC, Figment, and Robot, without continuing to raise funds and directly choosing TGE. This structure is still relatively rare. @SemanticLayer itself operates in the MEV field, allowing applications to have the right to order their own transaction orders to capture MEV. This concept is very similar to the application control execution (ACE) that Solana promotes, as it involves the management of application transaction orders. Therefore, it has now also expanded into the popular narrative of x402+AgentFi, helping Agents complete asset issuance and transaction execution. The overall style of the official website is quite nice, and in my aesthetic opinion, it has a retro cyber feel.

This tweet does not constitute investment advice due to the interests related to Semantic.

Galaxy's official press release has reported on the sale of 80,000 BTC by ancient whales, and the market's ability to absorb such a large amount is truly impressive. Even with such a significant sell-off, it barely made a dent. Additionally, Galaxy must know the identity of the clients but cannot disclose it due to confidentiality principles. It is worth noting that in the press release, Galaxy mentioned that this sale is part of the whales' estate planning strategy, which means this whale might have reached an advanced age and is looking to convert the BTC they've held for so long into cash for their descendants? Wait a minute, you old OGs always talk about passing down BTC through generations, yet in the end, it still gets converted into money.🤣

Brave Bull, not afraid of difficulties✊

【In-Depth Interpretation】Solana's (Unofficial) 2027 Roadmap was released today. It is called unofficial because this roadmap was not officially published by the Solana Foundation, but was co-authored by contributors from six organizations: Solana Labs, Anza, Jito Labs, DoubleZero, Drift, and Multicoin Capital, and was published by Anza, which is responsible for maintaining the Solana client. Therefore, this roadmap brings together Solana itself as well as its developers, project parties, and VCs, combining various perspectives. The fact that it was not officially released is likely to make it seem more decentralized and grassroots.

One of the most interesting aspects of this roadmap is that its title is "The Internet Capital Markets Roadmap," using the newly coined term Internet Capital Markets (ICM) to replace Solana's name. This clearly positions Solana and its ecosystem; while Ethereum is seen as the World Computer, Solana is positioned as the Internet Capital Market. Think about it.

It mentions that currently, the entire Solana ecosystem is integrating around a common vision, which is Application Controlled Execution (ACE). This allows smart contracts on Solana to autonomously control the execution time and order of their transactions. You might wonder, isn't this something that all public chains' validating nodes are doing? Yes, that's correct. Solana aims to transfer this responsibility from nodes to smart contracts.

The biggest advantage of this is that it can elevate the entire network's high performance and low latency to a new level, as it grants applications greater authority, allowing each application to manage itself without relying entirely on nodes. This reduces transaction conflicts across the network, such as front-running and sniping, enhancing transaction efficiency and fairness. Also, because smart contracts have greater authority, they can support more complex on-chain trading strategies, making operations like DEXs more efficient.

So, you can understand that the Internet Capital Markets (ICM) is Solana's latest vision narrative, while Application Controlled Execution (ACE) is Solana's latest technical narrative, and this technical narrative is entirely designed to serve the realization of the vision narrative.

To achieve this roadmap, it is divided into three phases: short-term, mid-term, and long-term.

The short-term involves collaborating with existing mechanisms, aiming to utilize them as much as possible, with a focus on Jito's Block Assembly Market (BAM), which is a function similar to ACE launched by Jito, and then coordinated with Anza, which maintains nodes, to enhance feasibility.

The mid-term is primarily undertaken by DoubleZero. It is quite interesting as it represents a physical infrastructure network within the Solana ecosystem, a high-performance fiber optic network that significantly boosts blockchain performance through physical means. Thus, DoubleZero provides hardware support for ACE.

The long-term is driven by projects across the entire Solana ecosystem, primarily aiming for Multi-Concurrent Leaders (MCL) to replace Single Leaders. In most PoS chains, a node is elected as a temporary single leader through random selection or voting to control transaction ordering. Since Solana has delegated the work of nodes to smart contracts, it also needs to further delegate authority from nodes.

Finally, the roadmap summarizes the Internet Capital Markets (ICM) as "Solana should have the most liquid market in the world, not the market with the largest trading volume." This statement subtly references Ethereum, indicating that Solana's positioning is aimed at retail investors pursuing high-frequency small transactions (TPS), rather than large investors pursuing low-frequency large transactions (TVL).

To emphasize, due to the abundance of mindless binary opinions on Twitter, this article is not about praising or criticizing anyone. However, to be factual, Solana's performance over the past few years has indeed been commendable. It seems that it hasn't faced downtime for quite a long time, and the entire Solana ecosystem feels very united with a clear goal. You can clearly sense from this roadmap that there are no flashy or superficial concepts; it is all about pragmatically solving problems.

Original roadmap link: https://t.co/x9jPwQetgn

cc @solana @SolanaFndn @calilyliu @ynonestop @anza_xyz @jito_sol @DriftProtocol @multicoincap @doublezero

Check out this airdrop on Galxe Earndrop: https://app.galxe.com/quest/earndrop/aspecta via @Galxe

Shanzhai is really hellish difficulty... I am already numb💔

200 million dollars in long positions exploded, well, you are not allowed to drop anymore

In recent days, the sudden emergence of over 500,000 ETH queued to be unstaked has sparked quite a bit of discussion. Many people are worried about the risk of a market crash. Currently, it is still unknown who is unstaking on such a large scale. Let me share my views; first, the conclusion: this cluster-level unstaking must be the action of a single institution, which I will elaborate on below.
In the history of Ethereum entering POS, as shown in Figure 2, if we extend the timeline, the last time such a large scale of unstaking occurred was in January of last year when Celsius went bankrupt and urgently needed money, instantly unstaking over 500,000 ETH, which caused the entire network's validator queue to be blocked for 7 days. This time, we are seeing a similar scale of unstaking, and currently, the entire network has been blocked for 8 days. So, who is going bankrupt again? Or is someone trying to profit and escape? (Sun Ge, if it’s you, blink your eyes 👀)
However, if we only look at the situation of entering and exiting the staking queue, there is no need to panic this time like last time. In the previous instance, the amount of ETH staked was almost negligible compared to the amount unstaked, whereas this time, as shown in the figure above, there have been several days where the number of entries into the staking queue has been almost equal to the exits from the staking queue, so they can mostly offset each other, and there is no need to panic too much.

Teachers, what other altcoins that have at least gone through one full cycle, have certain fundamentals, and whose prices are still at low levels are worth buying? Urgent, waiting online.

Since the Ethereum Foundation reformed by replacing the chairman of Zen Studies and eliminating a group of non-productive staff who only talked but did not act, efficiency has indeed improved significantly. Not long after the Pectra upgrade, the next upgrade, Fusaka, is tentatively scheduled for November this year, and the content for the following upgrade, Glamsterdam, will also be determined in August. Compared to the previous procrastination of the foundation's laid-back performance, it is evident that for such rebellious individuals, simply going with the flow is useless; they must be criticized and reformed to move their butts from the honor roll.

Currently, the content of the Fusaka upgrade includes 13 EIPs, primarily achieving two effects: improving control while expanding L2, and enhancing the stability of the mainnet. Let's briefly interpret a few key points.

EIP-7594 is an improvement protocol based on the previous Cancun upgrade EIP-4844. EIP-4844 introduced blobs that allow L2 data to be stored in L1 faster and cheaper. EIP-7594 validates the availability of these blob data through sampling verification, allowing nodes to not download all the blobs but only process a portion of the samples, thereby improving L2 scalability and reducing storage pressure.

EIP-7892 introduces a hard fork mechanism for the expansion of blob capacity mentioned above, making upgrades more flexible based on blobs and enhancing L2 scalability.

EIP-7918 adjusts the calculation of blob fees. If Ethereum's L2 flourishes and continuously expands the blobs that store data in the L1 mainnet, it will reduce the mainnet's ability to tax L2, which is often criticized as L2 sucking the life out of L1. EIP-7918 sets a minimum value for blob base fees and ties it to execution fees to avoid the issue of excessively low blob fees.

EIP-7825 limits the maximum Gas usage for a single transaction to 16,777,216 (2^24), reducing the risk of DoS attacks caused by excessively high Gas transactions, thereby enhancing the ability to withstand DoS attacks and promoting a fairer distribution of Gas for transactions within the block.

EIP-7934 sets the upper limit for Ethereum's block size to 10MiB, preventing network instability and DoS attacks caused by large blocks.

I just stumbled upon a post where an ordinary full-time mom describes how she fell into the abyss step by step, from trading cryptocurrencies to opening contracts, and then to borrowing online loans, ultimately selling her house and getting a divorce. What struck me the most about this post was that I could see the shadows of numerous friends and followers in every sentence, as if this was the template and fate of nearly 99% of ordinary people. I strongly recommend everyone to seriously read this article!
This world is always dominated by survivor bias; the voice of the winners is always the loudest, while everyone only wants to hear what they like, leading to the impression on Twitter that no matter how many hardships you go through, there will always be a chance to turn things around with a big bet. Perhaps those who share these success stories are the 1% who survived, but what about the other 99%? They silently withdraw from the internet or even commit suicide, and you don't even have the chance to hear their failure stories!
Not long ago, a certain exchange prohibited the use of borrowed funds for trading cryptocurrencies, causing quite a stir, and there were even numerous testimonials from people using their success stories to justify the relationship between borrowing and turning things around. I am not defending this exchange, and the growth path of all exchanges is inevitably bloody and barbaric, but when I looked at these posts describing their successful paths, it really sent chills down my spine. How many people will believe that they are also the destined ones because of these posts? And how many will end up like the mom in this post, with their families shattered?
Perhaps this tweet will get me criticized by many, saying that I, Jason, am pretending to be a good person. Yes, you are right. Let go of the urge to help others and respect the fate of others.

Although stablecoin issuers have terrifying net profit margins and a very stable income source primarily based on government bonds, both the previous European 'Cryptocurrency Asset Market Regulation' and the current leading American 'GENIUS Act' prohibit stablecoin issuers from paying any form of interest to holders. It seems like the state is forcibly making issuers wealthy while preventing them from sharing profits with the public. In reality, this restriction leaves a last semblance of decency for the current traditional finance represented by banks, or it is also a final reserved space left by traditional finance in the game, firmly pinning stablecoins down to the realm of payment and settlement, castrating the savings and investment capabilities of stablecoins, and not allowing traditional finance to die too embarrassingly.

Germany just sold 50,000 BTC last year, and the UK said yesterday they want to sell 60,000 BTC, but the worst situation should still be Bulgaria, which sold a total of 210,000 BTC in 2018, now worth 25 billion USD, reaching nearly one-third of the national GDP, while back then it only sold for 2 billion USD🤣

Elon Musk, this unscrupulous capitalist 🤬 finally got a Hong Kong card last month and can finally receive his salary. Everyone said the previous unpaid wages would keep accumulating, but the first time I received it showed that after saving for over three years, there was only 740U, while today, just 15 days later, I received only 120U. The difference in ratio is just too much. You, unethical boss, actually cut our wages, bullying us because we can't check the accounts. Return my three years of hard-earned money @elonmusk

This heartless capitalist Elon Musk 🤬 got a Hong Kong card last month and finally can receive his salary. Everyone said that the unpaid wages would accumulate, but when I received my first payment, it showed that after three whole years, I only had 740U. Today, after just 15 days for the second payment, I only got 120U. The ratio is just too different. What an immoral boss, you skinflint, how dare you cut our wages as low-level laborers @elonmusk

According to the current market, as long as Trump doesn't mess things up tonight, I'm already starting to look forward to this wonderful weekend, hear the applause! 👏🏻

I've been pondering something these past few days. As it stands, a rate cut in September is a certainty, and only starting next year will we truly enter a low-interest-rate cycle, leading to an epic bull market. Yet, even before the rate cut, both the US stock market and the cryptocurrency market have already surged like this. So, how will this script unfold from here? Recently, after discussing with some friends, I've come to the following conclusions: 1. Optimists: There’s nothing to worry about; the script is just going to keep rising until the rate cut, into next year. Just hold on tightly with a full position. 2. Pessimists: There will be a significant price drop before and after the rate cut, so recently I've been looking for opportunities to cash out at a high point and plan to buy back after the drop. Brothers, what do you think? How do you plan to operate moving forward?

Share an interesting thing. A friend I met on Twitter, who also heavily invested in Ethereum, often came to me for emotional support when the price dropped painfully at the beginning of the year. We often cursed V together, lamenting how painful it was to hold Ethereum, saying that we had sinned in this life and would never touch Ethereum again. We encouraged each other to get through the toughest times, and now, Ethereum has recovered, and he keeps coming to my Twitter to curse me, trying to show how wise and insightful he is. I’m baffled—dude, you were the one cursing, you were the one in pain, and you were the one saying you wouldn’t touch it again. How did you become the biggest winner now? 🤣 I now understand why there are so many winners on Twitter; it doesn’t matter if you’re losing or winning behind the scenes, in public, it’s all about winning. When the price drops, they sell everything and run away; when it rises, they load up and buy the dip.

I've been thinking about it, and I realize my mistake. My biggest mistake is that I love to speak from the heart and tell the truth. How can you speak the truth on Twitter? You have to say what people want to hear!

From now on, I announce that I have long been fully invested in BTC at 15,000 and fully invested in Ethereum at 1,700. I see Bitcoin reaching one million and Ethereum reaching one hundred thousand. As for when I will sell? I don’t know yet, but when the price drops, I will naturally inform everyone. Don’t ask me why; just know that it’s always about earning and being right.