Pillarbear believes that it's crucial to bridge the gap between infrastructure technology and products or services for broad adoption of blockchain. The infrastructure of blockchain is currently a rapidly evolving field where various narratives rise altogether. The significance, progress and vision of the technology will be mainly explored. Specifically, a deep interest lies in Modular Blockchain and MEV. Modular Blockchain has already moved beyond the narrative and is becoming a reality. More projects will be deployed via rollups, and correspondingly the blockchain ecosystem will transform into a more diverse structure. Additionally, MEV is not just arbitrage tactics but a question about the dynamics between participants within the system; Which entity captures what value. It is required to understand the mechanisms and analyze their effects for a better user experience and a robust system in both Modular or X-domain systems.
The crypto industry, initiated by Bitcoin, has developed through the narrative game and is now entering a stage where its technical infrastructure is maturing. Crypto provides a foundation to assign economic value to any idea or interest and enables trading, paving the way for new types of applications and business models. Currently, the crypto industry faces the key challenge of developing popular applications and attracting users. To achieve this, it is necessary to actively apply strategies that leverage speculative demand as a core function.
Bluefin rapidly grew by transitioning through Arbitrum and finally settling on Sui. Bluefin now has $26.3 billion in trading volume and holds 70% of the market share, showcasing strong user base and liquidity Bluefin plans to become a comprehensive decentralized trading platform by introducing features like a DEX aggregator, easy on-ramps, and cross-chain functionality. Similar to Jupiter on Solana, Bluefin aims to leverage Sui's growth to achieve expansion and generate synergies
SynFutures is a decentralized exchange for perpetual contracts that combines AMM and order book features to provide efficient liquidity, improved price stability, and significant trading volume growth following its migration to Blast L2
Base, aiming to onboard 1B onchain users, has emerged as a hub for consumer-oriented onchain applications within a year since its mainnet launch last year, driven by factors such as reduced fees, the memecoin frenzt, and the growth of social network applications like Farcaster. Unlike other blockchain ecosystems focused on DeFi and infrastructure, Base predominantly features consumer-oriented applications similar to Web2 services. It leverages a unique community and brand to onboard more applications. While social and community applications are the most actively developed, new categories of onchain applications in content, gaming, and commerce are also emerging, indicating significant potential for user expansion.
Let's take a look at what happened in March and what we should keep an eye on in the next month.
As we entered 2024, the landscape of Liquid Staking Tokens (LRT) and their associated financial services (LRTfi) has continued to flourish. This burgeoning sector is marked by a competitive spirit, driving innovation and expanding the possibilities within the crypto market. Discover in this edition of Scout the diverse and cutting-edge projects from AVS's advanced risk management network to the Omni-chain protocols, and AMM for Yield-bearing Assets.
This month, the spotlight is on the Bitcoin ecosystem and Korean gaming projects, attracting significant VC investments. Highlighting Promising Early Projects: From RWA applications to ZK payment solutions, uncovered through our internal research and monitoring.
Jito, a rapidly growing entity in the revitalized Solana ecosystem, is making waves as a liquid staking protocol and MEV infra builder in Solana. Especially after Lido's exit from Solana and the recent token airdrop, Jito has seen a surge in prominence in the market. The surge has made Jito to become the second largest liquid staking protocol and the adoption of Jito-Solana
As rollups are increasingly becoming a universal system for deploying new blockchains, solutions for building and operating them are also gaining attention. This includes the rollup framework that provides the foundation for the rollup system, the shared sequencer protocol for sequencer decentralization, and RaaS, which offers rollup deployment and operation as a service. Each solution has its own unique structure and relative strengths and weaknesses. We aim to explore what benefits and risks rollups can obtain through each solution, and what the future rollup ecosystem they will form might look like
The Scout Article is a series by Four Pillars that aims to identify promising early-stage blockchain projects through active research and monitoring of emerging sectors.
