Head of Commercial @blockworks
Top of Block
- Tweets 25,687
- Following 2,550
- Followers 24,494
- Likes 65,258
David retweeted
tempo's stablecoin supply is up 3.3x in the past month.
> aug 25: $56.4m
> sep 24: $186.8m
> added in 30 days: +$130.4m
@tempo went live on mainnet march 18, a little over 6 months ago, with $4.7m in stablecoins.
~72% of the growth since then came in the last 30 days.
that lag is expected for a chain incubated by @stripe and @paradigm that sells to enterprises and institutions.
integration, compliance, and treasury sign-off take months, so a signed partner doesn't show up onchain immediately.
that's what we're seeing now. the balances from those sales cycles are landing.
still, $186.8m is small in the grand scheme. in comparison:
> Ethereum: $146.7b
> TRON: $91.3b
> Solana: $15.3b
tempo holds ~1.2% of solana's stablecoin supply and ~0.1% of ethereum's.
but those chains weren't built solely for payments. tempo was, with stablecoin-native gas, dedicated payment lanes, and MPP for machine-to-machine payments.
if AI agents end up paying for compute, data, and APIs onchain, that flow needs a chain built for high-frequency, low-cost stablecoin payments.
stablecoin payments has the largest TAM of any crypto product and tempo is a pure-play bet on it.
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David retweeted
life is strange one day you are cypherpunking longing zec another day you are long samacoin ethereum:0x163f8c2467924be0ae7b5347228cabf260318753
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David retweeted
For a trade in a Trade[XYZ] market, Trade[XYZ] retains about 1/3 of the total fees to execute the trade, with the remainder split between Hyperliquid and front-end Builders.
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gmino.
Just finished accumulating a bigger solana:KMNo3nJsBXfcpJTVhZcXLW7RmTwTt4GVFE7suUBo9sS position on the open market.
Very bullish on the overall trend of tokenized equities, and I genuinely believe the supply here grows another 100x from here, led by @solana.
I've been thinking a lot about how to best position for this. I'm a big fan of what Backpack, Securitize and co are doing, but I'm still hesitant on the business model and monetizability of the issuers, especially at these valuations.
Much more interesting to me are the businesses and protocols actually built on top of that layer, the ones that benefit massively from this secular trend.
DEXs are the obvious play here, but what has excited me far more is @kamino.
I'm usually not overly excited about lending businesses, but they made the move into tokenized equity lending early and have been dominating market share ever since. As I expect this market to grow orders of magnitude from here, there's a realistic path for Kamino to massively expand their business in a positive-sum way, and a real shot at rivaling Morpho. Especially since I expect tokenized equities to keep being led by Solana, which Kamino has already proven it can dominate.
Beyond that, the recent hire of @WeiszM is massive, and in my opinion still overlooked. If you want to dominate the upcoming institutional adoption and the influx of trillions in capital as an onchain financial business, you need someone at the top who not only speaks the TradFi language, but has the background and network to actually get the right things moving and open the right doors.
Let's see how this evolves, but definitely one of the more interestingly positioned DeFi protocols right ahead of a massive DeFi supercycle.
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Long solana:KMNo3nJsBXfcpJTVhZcXLW7RmTwTt4GVFE7suUBo9sS
Thanks Blockworks API for uncovering the alpha.
Disclosure: I'm long.
Solana DeFi is undeservingly undervalued relative to its Ethereum DeFi peers.
The market doesn't seem to believe that institutional capital is coming to Solana in the form of tokenized equities and stablecoins, but the market is wrong.
solana:KMNo3nJsBXfcpJTVhZcXLW7RmTwTt4GVFE7suUBo9sS is the canary in the coal mine on this dislocation.
The market is discounting it by 50% to its Ethereum analogs as a function of stablecoin + RWA deposits.
The market prices forward-looking growth, and Solana DeFi is starting at a much smaller base in stablecoin and RWA supply than Ethereum + L2s.
The bet isn't just on absolute Solana DeFi stablecoin + RWA growth, the bet is on *relative* growth that will eat into Ethereum + L2 market share.
Feels like a no-brainer bet to me. Galaxy launching a Kamino vault, Backpack and xStock tokenized equity supply and trading volume going parabolic on Solana, Kraken launching xStock vaults on Kamino...the market is wrong about Solana institutional adoption imo.
Disclosure: I am long solana:KMNo3nJsBXfcpJTVhZcXLW7RmTwTt4GVFE7suUBo9sS
Also shoutout to the Blockworks MCP. It is SO SO SO SO good. Best in the industry. The data and prod-eng team absolutely cooked. Can't wait till we push this live to the market.
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David retweeted
We are building an end-to-end platform for creating and trading new onchain markets
That vision will become clearer with each subsequent product launch
And we already bought out large sellers AT THE STONE COLD BOTTOM
Last month, Metaplex Foundation purchased 42M $MPLX for its treasury, representing 4% of total supply or 9% of outstanding supply.
The tokens were acquired from a large holder, comprising their entire remaining position.
This purchase was separate from the monthly DAO buybacks.
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Compute-Backed Credit on @solana.
Introducing the USDai Market on Kamino, curated by @AllezLabs.
@USDai_Official's yield-bearing dollar is backed by secured loans financing GPU infrastructure, bringing institutional GPU-backed credit to Solana.
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Shaunda uses the Blockworks Unified API.
Be like Shaunda.
Hyperliquid.
The Blockworks Unified API combined with Claude gives ANYONE access to their own data analyst.
To show you what I mean, here's a thread of questions I asked it getting completely one-shotted:
Q1: Show me the median listing-day return of tokens by CEXs:
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@Blockworks powers the data behind our IR reporting. We're building the rails for physical AI, and we hold the numbers behind that to the same reporting standard as the rest of the infrastructure we run.
Just in the last week:
- @circle used our data on its earnings call.
- @WSJ featured our Hyperliquid data.
- @KobeissiLetter shared our DEX data.
- @GEODNET embedded our data in its IR page.
The industry has matured, and crypto executives, developers, and investors demand accurate, standardized, and comparable data.
With that, the demand for accurate, comparable crypto data keeps growing.
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David retweeted
Man, I hate to fucking say it...but this is what ethereum:0x163f8c2467924be0ae7b5347228cabf260318753 has pivoted to. They gave up the eyeball shit and reduced emissions.
If you dont want your KYC on the dark web, prob need to find some kind of ZK proof compliance.
INTEL: KYC should collect less personal data and use zero-knowledge proofs to verify compliance without revealing names, income or addresses, SEC Commissioner Hester Peirce says
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Bang bang the new API is live
We will be rapidly expanding the datasets available via API using the data behind the dashboards and charts our users know us for
UI lovers and API lovers unite
You’ve seen Blockworks data everywhere.
Now you can build with it.
Introducing the Blockworks Unified API: market data, protocol financials, research and more.
Plug in one API key and you're set.
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I’ve used every data solution in this industry in a personal and professional capacity for the past 8 years.
I’ve peppered the prod-eng-data team with my wishlist for months as a heavily opinionated power user of crypto data.
And boy did they deliver here. Nothing compares to our unified API.
I’m extremely excited about this as it completely transforms how everyone should think about Blockworks moving forward.
Blockworks is the market intelligence layer for onchain finance.
Power your products.
Power your enterprise workflows.
Power your portfolio strategies.
Blockworks data everywhere.
You’ve seen Blockworks data everywhere.
Now you can build with it.
Introducing the Blockworks Unified API: market data, protocol financials, research and more.
Plug in one API key and you're set.
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David retweeted
Blockworks Data Everywhere
Why Trump Wants to Cryptofy the Futures Markets
My latest for @BW is a deep dive into the CFTC-led effort to bring perps and Hyperliquid to the US.
Gift link 👇
bloomberg.com/news/articles/…
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The last non-meme 1000x in crypto left.
Privacy - Identity barbell.
Disclosure: I’m long.
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David retweeted
DAS ASIA: Tokenization's Impact on the Exchange & Brokerage Landscape
with @armaniferrante @dbsbank @AmyOldenburg_ @BNBCHAIN
mod @EffortCapital
Oct 7th. Marina Bay Sands Singapore. Be there.
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David retweeted
DAS ASIA:
Stablecoin Wars: Liquidity Is the Battleground
with @hexonaut & @EffortCapital
Oct 7th. Marina Bay Sands Singapore. Be there.
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