Everything You Need to Know About Cross-chain Bridges in 2022 - Pranay Mohan, Nomad, Ep. 195

In today’s Roundtable, Jason and Sanat are joined by Catrina Wang of Portal Ventures. Catrina has written one of the most comprehensive breakdowns of the BTC/BRC thesis to-date. At the time of recording (02/22/24) Bitcoin just broke $50,000, however what’s new this cycle is the BRC phenomenon. Today, BRC’s are at a $3 billion market cap and now more than ever, there’s a rekindled interest in BTC L2s. 

In this episode Catrina discusses her thesis in detail, as it relates to BRC reactions, intended target market, adoption strategy, WBTC, BTC L2 vs BitVM, Layer 1 programmability, The Panda Renaissance and much more! Press play now.

 

Host: Jason Choi @mrjasonchoi . Not financial advice.

 

Timestamps:

(00:00) Introduction

(02:31) Catrina’s BTC Thesis

(07:29) Initial BRC reactions

(09:06) Ordinals & programmability demand 

(12:24) BRC target market

(15:11) How to achieve BRC adoption 

(21:30) How much of the BRC/BTC market is not addressed by WBTC

(23:54) BTC L2 vs BitVM

(33:15) Centralized L2 trust vs security conscious BRC users

(35:21) What is the additional catalyst for BRC scalability?

(40:00) Liquidity: building programmability on Layer 1

(41:00) The Panda Renaissance Thesis

(45:58) Outro

 

Twitter accounts:

Jason Choi’s Twitter:

https://twitter.com/mrjasonchoi

 

Sanat Kapur’s Twitter:

https://twitter.com/kapursanat

 

Catrina Wang’s Twitter:

https://twitter.com/dotcuriouscat

 

Catrina Wang’s BTC Thesis:  

https://blockcrunch.substack.com/p/a-bitcoin-thesis-the-panda-renaissance

 

Blockcrunch VIP:

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Blockcrunch Twitter:  

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Disclaimer:

The Blockcrunch Podcast (“Blockcrunch”) is an educational resource intended for informational purposes only. Blockcrunch produces a weekly podcast and newsletter that routinely covers projects in Web 3 and may discuss assets that the host or its guests have financial exposure to. Views held by Blockcrunch’s guests are their own. None of Blockcrunch, its registered entity or any of its affiliated personnel are licensed to provide any type of financial advice, and nothing on Blockcrunch’s podcast, newsletter, website and social media should be construed as financial advice. Blockcrunch also receives compensation from its sponsor; sponsorship messages do not constitute financial advice or endorsement.

 

Full disclaimer: https://blockcrunch.substack.com/about

 

Today Jason is joined by none other than EigenLayer Founder, Sreeram Kannan. Sreeram kicks things off by sharing the founding story of EigenLayer and how Sreeram and the team thought about EigenLayer's value proposition. Jason then digs into the details; what are EigenLayer's Actively Validates Services (AVS)? Are there security assumptions related to slashing? What are the centralisation considerations for EigenLayer? What are the commercial incentives for builders? And much, much more. Enjoy the conversation and please share and like — it goes a long way.

 

Host: Jason Choi @mrjasonchoi . Not financial advice.

 

Timestamps:

(00:00) Introduction

(01:29) EigenLayor’s backstory & Sreeram’s early start

(11:05) EigenLayer’s proposition

(14:54) EigenLayer’s AVS: Actively Validated Services

(19:56) Slashing & security assumptions

(29:40) EigenLayer’s centralisation considerations

(34:30) Commercial incentives

(42:37) Long term incentives: coprocessor & intelligent DeFi

(46:40) Best vs worst case for the future of EigenLayer

(57:30) Outro

 

Twitter accounts:

Jason Choi’s Twitter:  

https://twitter.com/mrjasonchoi

Sreeram Kannan Twitter:  

https://twitter.com/sreeramkannan

 

Blockcrunch VIP:

https://blockcrunch.substack.com/

Blockcrunch Twitter:  

https://twitter.com/theBlockcrunch

 

Disclaimer:

The Blockcrunch Podcast (“Blockcrunch”) is an educational resource intended for informational purposes only. Blockcrunch produces a weekly podcast and newsletter that routinely covers projects in Web 3 and may discuss assets that the host or its guests have financial exposure to. Views held by Blockcrunch’s guests are their own. None of Blockcrunch, its registered entity or any of its affiliated personnel are licensed to provide any type of financial advice, and nothing on Blockcrunch’s podcast, newsletter, website and social media should be construed as financial advice. Blockcrunch also receives compensation from its sponsor; sponsorship messages do not constitute financial advice or endorsement.

 

Full disclaimer: https://blockcrunch.substack.com/about

In today’s Roundtable 006 episode Jason and Sanat discuss all things Airdrops. They start by reviewing the history of Airdrops, among the most successful releases, before diving deep on trying to objectively evaluate Airdrops and their utility;  are they a good way for retail investors to make money, for founders to grow their projects and whether or not it’s financially sound strategy and business decision. Jason and Sanat dive deep on the data, reviewing on-chain activity and historic examples — this is not one to miss, enjoy

 

Host: Jason Choi @mrjasonchoi . Not financial advice.

 

Timestamps:

(00:00) Introduction

(03:10) Historic tier-1 Airdrops

(11:45) Fiat raises vs Airdrops

(18:05) Airdrop customer-acquisition-cost analysis

(33:32) LayerZero Airdrop speculation

(41:50) Gamification of points vs Airdrops

(46:12) Whales Market points market

(48:48) Points as user retention mechanic critique

(52:40) Celestia Airdrop: crypto native user reward strategy

(53:40) Points program scrutiny continued

(57:30) Outro

 

Hosts:

Jason Choi’s Twitter:  

 / mrjasonchoi  

Sanat Kapur’s Twitter:  

 / kapursanat  

 

Watch the episode on Youtube:

https://rb.gy/xkff5h

Blockcrunch VIP:

https://blockcrunch.substack.com/

Blockcrunch Twitter:  

 / theblockcrunch  

 

Disclaimer:

The Blockcrunch Podcast (“Blockcrunch”) is an educational resource intended for informational purposes only. Blockcrunch produces a weekly podcast and newsletter that routinely covers projects in Web 3 and may discuss assets that the host or its guests have financial exposure to. Views held by Blockcrunch’s guests are their own. None of Blockcrunch, its registered entity or any of its affiliated personnel are licensed to provide any type of financial advice, and nothing on Blockcrunch’s podcast, newsletter, website and social media should be construed as financial advice. Blockcrunch also receives compensation from its sponsor; sponsorship messages do not constitute financial advice or endorsement.

 

Full disclaimer: https://blockcrunch.substack.com/about

In today’s Roundtable 005 episode Jason and Sanat are joined by Blockchain Capital’s Principle, Yuan Han Li, where the three discuss ETH value accrual, ETH’s money utility, before diving deep on infrastructure mechanics and Jason’s changing views on ETH. As well as much, much more — enjoy!

 

Host: Jason Choi @mrjasonchoi . Not financial advice.

 

Timestamps:

(00:00) Introduction

(01:27) Disagreggation of ETH Value Accrual

(16:20) $ETH as money

(27:40) Modularity conviction

(33:11) Fees as behaviour incentive

(42:16) Off-chain cryptography as Proofs

(50:02) Jason’s changing view on ETH

(51:10) Outro

 

More Resources:

Hosts

Jason Choi’s Twitter:  

 / mrjasonchoi  

Sanat Kapur’s Twitter:  

 / kapursanat  

Yuan's Twitter:

/ yuan_han_li

 

Watch the episode on Youtube:

https://rb.gy/yki70a

Blockcrunch

Blockcrunch VIP: https://blockcrunch.substack.com/

Blockcrunch Twitter:  

 / theblockcrunch  

 

Disclaimer:

The Blockcrunch Podcast (“Blockcrunch”) is an educational resource intended for informational purposes only. Blockcrunch produces a weekly podcast and newsletter that routinely covers projects in Web 3 and may discuss assets that the host or its guests have financial exposure to. Views held by Blockcrunch’s guests are their own. None of Blockcrunch, its registered entity or any of its affiliated personnel are licensed to provide any type of financial advice, and nothing on Blockcrunch’s podcast, newsletter, website and social media should be construed as financial advice. Blockcrunch also receives compensation from its sponsor; sponsorship messages do not constitute financial advice or endorsement.

 

Full disclaimer: https://blockcrunch.substack.com/about

It’s the start of 2024 and you know what time it is - time for predictions!

Don't miss this week's thrilling episode where Jason and Sanat unveil their top 9 predictions for the year:

• Will ETH ETF bring about another bull run

• Launch of restaking and future of ETH

• Will Cosmos ecosystem finally take off

• And more!
  
  

Host: Jason Choi @mrjasonchoi . Not financial advice.

Timestamps:

(00:00:00) – Episode introduction

(00:02:20) – Will ETH ETF disappoint

(00:08:10) – % of ETH that will be restaked

(00:14:27) – TVL of Yield projects

(00:19:54) – Fees paid by Rollups to ETH 

(00:24:25) – ETH’s future

(00:32:06) – Will Cosmos finally take off

(00:36:50) – Will Apps outperform Infra

(00:41:21) – Are Telegram Bots here to stay

(00:46:22) – A massive crypto-app will be built on…

 

More Resources:

Hosts

Jason Choi’s Twitter: https://twitter.com/mrjasonchoi

Sanat Kapur’s Twitter: https://twitter.com/kapursanat

Blockcrunch

Blockcrunch VIP: https://blockcrunch.substack.com/

Blockcrunch Twitter: https://twitter.com/theBlockcrunch



Disclaimer:

The Blockcrunch Podcast (“Blockcrunch”) is an educational resource intended for informational purposes only. Blockcrunch produces a weekly podcast and newsletter that routinely covers projects in Web 3 and may discuss assets that the host or its guests have financial exposure to. Views held by Blockcrunch’s guests are their own. None of Blockcrunch, its registered entity or any of its affiliated personnel are licensed to provide any type of financial advice, and nothing on Blockcrunch’s podcast, newsletter, website and social media should be construed as financial advice. Blockcrunch also receives compensation from its sponsor; sponsorship messages do not constitute financial advice or endorsement.


Full disclaimer: https://blockcrunch.substack.com/about

In December 2023, Sei Network joined the “billion-dollar network club” in market cap, as its value doubled and its user count skyrocketed. Sei stood out amongst the crypto natives as it claims to be the fastest Layer 1 out there (yes, even faster than Solana) and the first live blockchain to become a parallelized EVM chain.

 

Today we have Jayendra Jog, Co-Founder of Sei, to share with us 

- How did Sei become the fastest blockchain

- What is parallelized EVM and why it's a game-changer

- Sei’s roadmap in 2024

- And more!

 

Host: Jason Choi @mrjasonchoi . Not financial advice.

Timestamps:

(00:00:00) – Episode introduction

(00:01:04) – What is Sei

(00:04:30) – Why is everyone excited for Sei 

(00:08:11) – Monolithic vs Modular chains

(00:12:10) – Parallelizing transactions vs sequential 

(00:20:46) – Solving state bloat with SeiDB

(00:27:27) – Expanding beyond Cosmos

(00:32:45) – Building on Solana vs Sei

(00:35:25) – Does Neon EVM compete with Sei

(00:37:19) – Why Sei can’t be forked as a rollup

(00:40:50) – Sei vs Monad

(00:42:57) – Sei in 2024

 

More Resources:

Guest

Jayendra Jog’s Twitter: https://twitter.com/jayendra_jog

Sei’s Twitter: https://twitter.com/SeiNetwork

 

Blockcrunch

Blockcrunch VIP: https://blockcrunch.substack.com/

Blockcrunch Twitter: https://twitter.com/theBlockcrunch

Jason Choi’s Twitter: https://twitter.com/mrjasonchoi

 

Disclaimer:

The Blockcrunch Podcast (“Blockcrunch”) is an educational resource intended for informational purposes only. Blockcrunch produces a weekly podcast and newsletter that routinely covers projects in Web 3 and may discuss assets that the host or its guests have financial exposure to. Views held by Blockcrunch’s guests are their own. None of Blockcrunch, its registered entity or any of its affiliated personnel are licensed to provide any type of financial advice, and nothing on Blockcrunch’s podcast, newsletter, website and social media should be construed as financial advice. Blockcrunch also receives compensation from its sponsor; sponsorship messages do not constitute financial advice or endorsement.

 

Full disclaimer: https://blockcrunch.substack.com/about

Stablecoins represent a significant segment of the cryptocurrency market due to their widespread applicability. So far, stablecoin models range from centralized, fiat-backed variants such as USDT and USDC, to more decentralized models like Maker's DAI, an over-collateralized stablecoin, and the infamous algorithmically-backed UST by Luna.

Despite this variety, the crypto industry still lacks a decentralized, internet-native stablecoin that combines attractive yet sustainable yields. Ethena aims to bridge this gap, offering a novel solution in the stablecoin space.
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Today we have Guy Young, Founder of Ethena Labs, to share with us 

• What exactly is Ethena’ stablecoin model, and how can it be sustainable

• Can Ethena dethrone USDC and USDT

• The future of the stablecoin landscape

• And more
  
  

Host: Jason Choi @mrjasonchoi . Not financial advice.

Timestamps:

(00:00:00) – Episode introduction

(00:02:08) – How Ethena was founded

(00:04:30) – How Ethena works & why now

(00:11:19) – Will USDT and USDC be dethroned one day

(00:13:55) – Ethena versus other stablecoins

(00:19:03) – Letting the markets do its job

(00:20:54) – Ethena versus Maker

(00:29:19) – Ethena’s value in blackswan events

(00:32:28) – Thoughts on staking staked ETH

(00:34:24) – 3 types of users likely to use Ethena

(00:36:29) – Why can’t someone do it themselves

(00:37:52) – Potential products built on Ethena

(00:41:04) – Ethena’s path to mass adoption

More Resources:

Guest

Guy Young’s Twitter: https://twitter.com/leptokurtic_

Ethena’s Twitter: https://twitter.com/ethena_labs

Blockcrunch

Blockcrunch VIP: https://blockcrunch.substack.com/

Blockcrunch Twitter: https://twitter.com/theBlockcrunch

Jason Choi’s Twitter: https://twitter.com/mrjasonchoi

Disclaimer:

The Blockcrunch Podcast (“Blockcrunch”) is an educational resource intended for informational purposes only. Blockcrunch produces a weekly podcast and newsletter that routinely covers projects in Web 3 and may discuss assets that the host or its guests have financial exposure to. Views held by Blockcrunch’s guests are their own. None of Blockcrunch, its registered entity or any of its affiliated personnel are licensed to provide any type of financial advice, and nothing on Blockcrunch’s podcast, newsletter, website and social media should be construed as financial advice. Blockcrunch also receives compensation from its sponsor; sponsorship messages do not constitute financial advice or endorsement.

 

Full disclaimer: https://blockcrunch.substack.com/about

 

In 2021, a few Web 3 games emerged, briefly capturing global attention and demonstrating the potential of this gaming sector.

Fast forward to 2024, numerous game studios are poised to launch their titles, honed over three years. This raises the question: Are we on the cusp of another GameFi revolution, this time for good?

• The Web 3 gaming landscape so far, and what to look forward to in 2024

• Immutable’s partnership with Polygon and Immutable
  
  

Host: Jason Choi @mrjasonchoi . Not financial advice.

Timestamps:

(00:00:00) – Episode introduction

(00:01:53) – Web 3 gaming in 2023

(00:03:52) – Overview of different Web 3 gaming ecosystems

(00:09:21) – Immutable’s business model

(00:12:55) – What game publishers Want

(00:16:42) – What drives players into Web 3 gaming?

(00:19:07) – Deciding which ecosystem to build in

(00:22:21) – Should game create their own rollups?

(00:24:31) – Partnership with Merit Circle & Polygon

(00:31:51) – Partnership with Ubisoft

(00:34:11) – Greatest barriers for Web 3 gaming

(00:37:28) – What to look forward to for Immutable

More Resources:

Guest

Robbie’s Twitter: https://twitter.com/0xferg

Immutable’s Twitter: https://twitter.com/immutable

Blockcrunch

Blockcrunch VIP: https://blockcrunch.substack.com/

Blockcrunch Twitter: https://twitter.com/theBlockcrunch

Jason Choi’s Twitter: https://twitter.com/mrjasonchoi

Disclaimer:

The Blockcrunch Podcast (“Blockcrunch”) is an educational resource intended for informational purposes only. Blockcrunch produces a weekly podcast and newsletter that routinely covers projects in Web 3 and may discuss assets that the host or its guests have financial exposure to. Views held by Blockcrunch’s guests are their own. None of Blockcrunch, its registered entity or any of its affiliated personnel are licensed to provide any type of financial advice, and nothing on Blockcrunch’s podcast, newsletter, website and social media should be construed as financial advice. Blockcrunch also receives compensation from its sponsor; sponsorship messages do not constitute financial advice or endorsement.

 

Full disclaimer: https://blockcrunch.substack.com/about

 

The crypto markets are showing signs of revival. With the recent resolution of Binance's case alleviating market uncertainty, investors are looking forward to 2024 with optimism.

More importantly, what tokens are worth looking at across the various crypto verticals? Jason and Sanat shares their list with viewers this week:


In episode 3 of Blockcrunch Roundtable, Jason & Sanat discusses:

• Why resolution of Binance’s case is good for the markets

• Top picks for different verticals heading into 2024

Host: Jason Choi @mrjasonchoi . Not financial advice.

Timestamps:

(00:00:00) – Episode Introduction

(00:02:03) – Impacts of Binance’s fine & CZ’s “retirement”

(00:05:33) – Blur & their L2, Blast

(00:12:06) – Betting on L2s via DA layers

(00:21:16) – Alternative L1s to Ethereum

(00:25:25) – What’s next for DeFi

(00:31:30) – The revival of Web 3 gaming scene

(00:38:30) – Other side of real-world assets; DePINS

(00:43:18) – New contender in the Oracle vertical

(00:47:03) – Retail favourite; Meme Coins

 

More Resources:

Hosts

Jason Choi’s Twitter: https://twitter.com/mrjasonchoi

Sanat Kapur’s Twitter: https://twitter.com/kapursanat

 

Blockcrunch

Blockcrunch VIP: https://blockcrunch.substack.com/

Blockcrunch Twitter: https://twitter.com/theBlockcrunch

Disclaimer:

The Blockcrunch Podcast (“Blockcrunch”) is an educational resource intended for informational purposes only. Blockcrunch produces a weekly podcast and newsletter that routinely covers projects in Web 3 and may discuss assets that the host or its guests have financial exposure to. Views held by Blockcrunch’s guests are their own. None of Blockcrunch, its registered entity or any of its affiliated personnel are licensed to provide any type of financial advice, and nothing on Blockcrunch’s podcast, newsletter, website and social media should be construed as financial advice. Blockcrunch also receives compensation from its sponsor; sponsorship messages do not constitute financial advice or endorsement.

 

Full disclaimer: https://blockcrunch.substack.com/about

 

Exploring history offers valuable lessons, enabling us to sidestep past errors and identify markers of excellence. These insights are particularly beneficial in the realm of investing, where understanding historical trends and outcomes can inform smarter, more strategic decisions


In episode 2 of Blockcrunch Roundtable, Jason & Sanat discusses:

• 3 verticals that showed promise but ultimately failed to gain traction

• 3 emerging verticals with the potential for significant success
  
  

Host: Jason Choi @mrjasonchoi . Not financial advice.

Timestamps:

(00:00:00) – Episode Introduction

(00:03:18) – What Web 3 apps make sense?

(00:06:45) – Will Metamask remain the No. 1 wallet?

(00:13:30) – Why prediction markets never really took off

(00:20:48) – How to invest in DAOs and their tooling

(00:30:11) – Can re-staking take off?

(00:36:05) – Case for and against DePINS

(00:43:33) – Decentralized social and Friend.Tech

(00:53:23) – 1 vertical to never invest, & 1 to spend most time on

More Resources:

Hosts

Jason Choi’s Twitter: https://twitter.com/mrjasonchoi

Sanat Kapur’s Twitter: https://twitter.com/kapursanat

Blockcrunch

Blockcrunch VIP: https://blockcrunch.substack.com/

Blockcrunch Twitter: https://twitter.com/theBlockcrunch

 

 

Disclaimer:

The Blockcrunch Podcast (“Blockcrunch”) is an educational resource intended for informational purposes only. Blockcrunch produces a weekly podcast and newsletter that routinely covers projects in Web 3 and may discuss assets that the host or its guests have financial exposure to. Views held by Blockcrunch’s guests are their own. None of Blockcrunch, its registered entity or any of its affiliated personnel are licensed to provide any type of financial advice, and nothing on Blockcrunch’s podcast, newsletter, website and social media should be construed as financial advice. Blockcrunch also receives compensation from its sponsor; sponsorship messages do not constitute financial advice or endorsement.

 

Full disclaimer: https://blockcrunch.substack.com/about