The Bumpy Ride
Good Morning Saints,
Hope you’re having a wonderful weekend?
If you’re reading this, you’re always one of the chosen Saints and you’re special.
Now, let’s get to the topic of the day……Grab a cup of coffee and let’s chill
Here’s our recipe for today:
Narrative Changes
DeFI Saint Recap for the week
Alpha from other Chads
Before we proceed, I’m glad to let you know that we have our first sponsor here “Altitude” which is a Cross-chain Bridge launching on Layer Zero.
Give them a follow at Altitude and turn on post notification so as not to miss their first update.
This is an Alpha, It doesn’t cost anything to be Early.
Narrative Changes
It is a rough road that leads to the heights of greatness, we are in a year of different plays and also we can see how fast these narratives change.
First, it started with LSDs (Liquid Staking Derivatives) where we’ve have seen an impressive cumulatively from them
Let’s compare and contrast between various narrative plays:
LSDs
LIDO, COIN and RPL has the largest market share and TVL which makes the them the leaders of this Narrative
LSD Token Performance for the past 7 days shows $LDO is dominating.
My view: This Narrative is not over yet since Shanghai upgrade is yet to come and if you’re looking forward to accumulate, always do so on pullbacks
Arbitrum Ecosystem Play
Arbitrum has only 0.94B left to reach its ATH TVL which is 2.64B on Nov 2021
Would Arbitrum make it?
In this narrative you should expect a lot of bumpy ride here as a lot of degens are gambling and also keep an eye on narrative shift when zkEVMs are live on Mainnet.
Arbitrum will have to compete against zkSync, StarkNet, polygon zkEVM, Scroll and Taiko.
In the previous weeks/days, we’ve seen how the narrative play on Arbitrum have been rotating among Perp Derivatives, Options, Options Vault and Decentralized sports betting.
Also, we’ve see an impressive run from these categories on how it has outperformed other categories in Arbitrum Ecosystem.
My views: Arbitrum is hot now, but might not be for so long when zkEVMs are live on Mainnet. There will be a narrative shift and also smart money rotation towards other L2s Ecosystem.
N.B: Taiko, Scroll, zkSync and Starknet haven’t launched its token yet.
Since Narratives shift from different categories, always apply proper risk management and don’t try to be in all categories, focus on ones you’ve strongest conviction in.
zkEVMs
This Narrative is the Optimistic Rollups biggest Nightmare, why?
we thought this would be a war between Optimistic Rollups vs zk Rollups but rather it’s vs zkEVMs, since the major Lag for zkRollups is on EVM-Compatibility, zkEVMs is solving this already.
Polygon zkEVM have announced it’s coming live to mainnet on 27th March and zkSync rebranded zksync 2.0 to zkSync Era and it’s already live on Mainnet but limited to pre-registered builders
RWA
Real world Tokenization, just like Indexes aims to represent TradFI and physical assets as a digital tradable token in the blockchain.
There has been a much speculation on this narrative but doesn’t seem it’s coming soon. There are other lots of narrative outpacing this, but will perform massively when it comes. still undervalued IMO
it currently TVL is sitting at $136, I expect to see a massive drive on this.
To Read More on RWA, here’s a thread by Rekt Fencer
My Views: This Narrative hasn’t yet come to play, Keep an eye on Big players like $GFI, $CFG and $TRU.
Also, here’s an active loan value by these protocols
Prediction Market/Decentralized sports betting/Gambling
This Narrative is brewing hot now, but how long will it last or has it come to stay?
IMO this narrative is too early, I’d say because of the recent rally we’ve seen in the market for the past few month has given birth to a lot Narratives emerging and new protocols launching, coupled with a lot of degen plays.
DeFI still hasn’t gotten enough sustainability on Protocols solving Real DeFI Cases, we still see hacks, rugs, more incompatibility on chains housing these protocols.
My view: So if you’re playing this Narrative, play it safe as we haven’t seen notable names (OGs) on this yet.
Want to get kick started, here’s a thread by Louis on that
The DeFI Saint Recap
The market is moving fast, to keep up with its face you have to keep a close eye on my twitter.
Here, I’ll give a quick recap on what I’ve talked about the past week
BubbleMaps an on-chain analytics that has made interpreting info on Etherscan easier, in which you can also use to monitor whales wallet, spot wash-trading e.t.c
Here, i wrote a thread on how to spot wash trading using bubblemaps
I know you thought Yield Farming is dead right??
Here’s a thread i wrote on clip Finance on their new approach to yield farming
You can’t stop loving zkEVMs, If you are happy for the future of Ethereum then you ought to be interested in its Scaling Solutions.
Now we’re in the Era of zkEVM wars. Here’s a thread i wrote and who i betted as the winner
You thought you’ve seen it all, until you didn’t know you can find trending token and view on-chain metrics from a DEX Aggregator
Here’s a recent thread i wrote on how KyberNetwork is shaping this.
Alpha From Other Chads
Here’s a life hack for busy degens like us.
I feel parenting isn’t talked well enough, I’m not yet a parent but hoping to be one day and Kids are one of the most loveliest creature
Thanks for reading and if you like it, do leave a feedback and forward to your Friends, There is love in Sharing and see you next time.
DeFI Saint
Founder, The Saints Creed