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The argument is made that while Ethereum L2s are competing with each other and trying to attract developers with BizDev programs, Solana with its strong technology and scalability is ready to support a larger influx of users and developers if crypto takes off.
There are concerns about the quality of protocol documentation for Ethereum L2s, with some major protocols lacking comprehensive and user-friendly documentation. This can be a barrier for developers and users looking to build and interact with these protocols.
Solana is positioned as a scalable solution for the future, with its high throughput and low latency. It is ready to support a larger user base and offers the potential for innovative applications to be built on top.
While there may be short-term pressure on the price of Solana due to supply overhang from FTX and Alameda estates, this can be seen as a positive sign for the long-term health of the network, as the distribution of tokens becomes broader and more decentralized.
Avalanche Community Proposal 13 (ACP 13) aims to remove the requirement for subnet validators to also be validators on the Avalanche primary network. Currently, subnet validators must hold a substantial position in AVAX to qualify. ACP 13 proposes a new model where anyone can become a subnet validator, but the usage of the subnet will result in ongoing fees paid to Avalanche validators. While this changes Avalanche's value proposition and may attract smaller consumer applications, it also presents some trade-offs and challenges to consider.
There are several governance updates to note. First, there is a proposal to allocate an additional 21.4 million ARB tokens to fund 26 more projects. While there are differing opinions on whether to approve this proposal, it raises questions about consistency, as the original proposal stated that 50 million ARB would be allocated for incentives by January 31st. Second, Oneinch is voting to sell their original ARB airdrop tokens and bridge the funds back to Ethereum, potentially impacting the liquidity and value of ARB. Finally, Dydx has launched its beta on the Dydx Chain and plans to relocate incentives from Dydx V3 on Sarcx to the Dydx Chain. This could stimulate user activity and incentivize traders to participate in the Dydx Chain.
In this week's analyst table Dan and Sam are joined by Blockworks research analyst Matt Fiebach and Lightspeed podcast co-host Garret Harper. Today's conversation is a Solana debate diving into Solana's developer traction and documentation quality, the sustainability of low fees, comparisons to Ethereum L2s, and upcoming major ecosystem upgrades and catalysts like Firedancer. To close out the team touches on governance updates on inflation and incentive programs from Synthetix, Arbitrum, and dYdX. Enjoy!
As always remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice.
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Hexens is the premier cybersecurity provider in web3 with an essential focus on blockchain technologies. Always exceeding clients’ expectations, Hexens is a trusted security partner of the most prominent web3 projects like Polygon & zkEVM, 1inch, Lido, Nubank, TON, Risc0, EigenLayer, Mantle, Celo and more.
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Join us at DAS (Digital Asset Summit) in London this March! DAS is the #1 institutional conference in crypto, hosted by Blockworks. Use the link below to learn more, and use 0X20 to get 20% off your ticket! Sign up now because the price goes up every month. See you there!
Learn more + get your ticket here: https://blockworks.co/event/digital-asset-summit-2024-london/home
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Timestamps
(0:00) Introduction
(1:36) The Solana Accusatory Audit
(6:25) What is there to do on Solana?
(14:38) Does SOL not being money hurt DeFi?
(22:01) Hexens Ad
(22:48) Lack of Protocol Documentation
(26:13) Are there New Users?
(30:25) L2 Framework is Overrated
(46:24) DAS London Ad
(47:20) ACP 13 Reducing Barrier of Subnet Validator Sets
(55:38) Arbitrum Governance Updates
(1:01:57) 1inch Selling ARB Airdrop
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Resources
Lightspeed Pod
https://beacons.ai/lightspeedpod
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Check out Blockworks Research today! Research, data, governance, tokenomics, and models – now, all in one place
Blockworks Research: https://www.blockworksresearch.com/
Free Daily Newsletter: https://blockworks.co/newsletter
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Disclaimer: Nothing said on 0xResearch is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Dan, Sam, and our guests may hold positions in the companies, funds, or projects discussed.
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