Research Summary
The report discusses the latest trends and narratives in the crypto world, including the rollout of Arbitrum grants, the potential benefits of Filecoin from the AI boom, and the Ethereum Foundation’s sale of 1,700 ETH. It also highlights the rise of SocialFi apps in DeFi fees and introduces RugDoc, a tool to avoid scams in DeFi.
Key Takeaways
Arbitrum Grants Revitalizing the Ecosystem
- Arbitrum’s Resurgence: After losing attention recently, Arbitrum is set to regain focus with the introduction of Arbitrum grants. These grants will inject 50M ARB tokens into the ecosystem, potentially benefiting several protocols.
Filecoin’s Potential Upside from AI Boom
- Filecoin’s Prospects: Arthur Hayes, co-founder of BitMEX, predicts that Filecoin could benefit from the upcoming AI boom. As a decentralized data storage with several years of history, Filecoin could be preferred by AI due to its resilience against human interference. Filecoin’s DeFi ecosystem is also taking shape, with its Total Value Locked (TVL) currently at $84M.
Ethereum Foundation’s ETH Sale
- Ethereum Foundation’s Move: The Ethereum Foundation sold 1,700 ETH. While the sale isn’t significant in the grand scheme of things, it’s noteworthy due to the foundation’s history of selling near local tops and the ongoing geopolitical events that could lead to a significant pullback.
SocialFi Apps’ Performance in DeFi Fees
- SocialFi Apps’ Impact: SocialFi apps, including friend.tech and Stars Arena, have made it to the top 10 ranking of DeFi fees this week. This indicates their potential in finding viable on-chain businesses, despite the recent exploit of Stars Arena.
RugDoc: A Tool to Avoid DeFi Scams
- RugDoc’s Utility: RugDoc is a powerful tool that helps avoid scams in DeFi. It maintains a database of small projects with easy-to-read risk-ratings and red flags, and offers other useful tools like the Emergency Withdraw tool and Revoke Permissions tool.
Actionable Insights
- Monitor Arbitrum’s Progress: With the rollout of Arbitrum grants, it’s worth keeping an eye on the platform’s development and the potential impact on the broader crypto ecosystem.
- Assess Filecoin’s Potential: Given the predictions of Filecoin benefiting from the AI boom, it’s worth investigating the potential of this decentralized data storage platform.
- Consider Ethereum Foundation’s Actions: The Ethereum Foundation’s sale of 1,700 ETH could be a signal to watch for potential market movements.
- Track SocialFi Apps: The rise of SocialFi apps in DeFi fees indicates a trend worth following, as these platforms could potentially find viable on-chain businesses.
- Utilize RugDoc: To avoid scams in DeFi, consider using tools like RugDoc that provide risk-ratings and red flags for small projects.
