Research Summary
The report discusses the growth of zkSync Era and Manta Pacific, driven by incentives and user engagement strategies. It also highlights the increasing importance of fundamental analysis in crypto investments, with Token Terminal providing standardized financial reporting. The report further explores MakerDAO’s Direct Deposit Module (D3M) and the performance of trending contracts on various blockchains.
Key Takeaways
zkSync Era’s Growth Momentum
- zkSync Era’s Success: Since its launch in March 2023, zkSync Era has seen a surge in net deposits, exceeding $800 million in May 2023. The platform has onboarded between 100k and 700k users each month, with daily transfer volumes showing an increasing trend, often surpassing $100 million.
Manta Pacific’s Bridge Deposits Surge
- Impressive Growth: Manta Pacific’s bridging contracts have seen a 390% increase in total value deposited over the past 30 days, growing to over $200 million. The platform’s New Paradigm program, offering depositors 4-5% native yields on Ethereum and USDC, has been a significant growth driver.
Importance of Fundamental Analysis in Crypto
- Increasing Relevance: The report suggests that fundamental analysis will become the norm in crypto due to economic incentives. Asset managers are expected to demand standardized and comparable financial reporting from protocols, with platforms like Token Terminal providing such services.
MakerDAO’s Direct Deposit Module (D3M)
- Revenue Generation: Since its inception in May 2023, MakerDAO’s D3M has generated a total of $7.6 million in interest revenue, accounting for more than 16% of MakerDAO’s total interest revenues. The success of D3M highlights its effectiveness as a tool for generating revenue and driving DAI adoption.
Trending Contracts on Various Blockchains
- Performance Analysis: The report analyzes the performance of trending contracts on various blockchains, including Tron, Ronin, and zkSync Era. Tron continues to solidify its dominance in stablecoin transactions, while Ronin’s daily active users have soared due to updates to Axie Infinity’s gameplay. zkSync Era leads in the blockchains (L2) category, with two contracts in the top 15 by 30-day transactions.
Actionable Insights
- Monitor zkSync Era’s Performance: Given the platform’s impressive growth since its launch, it would be beneficial to keep an eye on its performance and user engagement metrics.
- Assess Manta Pacific’s Growth Strategy: The platform’s successful user engagement campaign and growth strategy could provide valuable insights for other platforms looking to increase their user base and deposits.
- Consider the Importance of Fundamental Analysis: As fundamental analysis becomes increasingly important in crypto investments, asset managers and investors should consider incorporating it into their investment strategies.
- Evaluate MakerDAO’s D3M: The success of D3M in generating revenue and driving DAI adoption suggests potential for expansion and replication with other protocols.
- Analyze Trending Contracts: The performance of trending contracts on various blockchains can provide insights into the current market trends and the potential growth of these platforms.
