The $AIT token is now officially live on @base! 🟦 The AI Settlement Token from Maxshot is here — and it changes how the on-chain AI economy works. Here's everything you need to know 🧵 Full article: dforcenet.medium.com/ait-is-…

Mercato Lending/Borrowing interessante su Jupiter Lend (Solana) per fare loop di USDe di Ethena e USDG di Paxos per avere fino ad un 40% APR. Il tutto curato da Bitwise

Shift: Expanding the Delta-Neutral Universe Ethena helped popularize a simple but powerful idea: package a delta-neutral engine into an on-chain asset that users can hold, use, and build with. No more "do your own funding capture", but rather one-click deposits. The success of this product is quite clear in the charts: delta-neutral has become one of crypto’s most important “workhorse” strategies and Ethena quickly rose in two years to as high as $15b, from zero. However, this growth is now stalling, due to a series of reasons: - the altcoin market hasn't been hot, at all; - in this low funding scenario, the basis trade is getting saturated; - the yields are compressing in the 4-5% area, make them unappealing to a lot of users, especially given the risk free rates. DeFi Yields have never been this low in years. Shift exists to bring back some excitement about the delta-neutral universe and turn it into a broader, composable repertoire of tokenized, yield-bearing structured assets. Make Delta Neutral Great Again The next wave in delta neutral yields is about expanding the opportunity set: more venues, more structures, more upside streams on top of the natural funding yield. While keeping the same one-click user experience. So what are the keys to this? 1) New Venues Most delta-neutral yield has been harvested where liquidity is deepest and execution is easiest. That’s also exactly where returns get competed away first. Shift broadens the playing field by integrating newer perp DEXs where market structure is still evolving: liquidity is growing, incentives are active, and funding can be materially different from the “mature” venues, while at the same time the platform is solid enough to take on a structured yield product. 2) More Structures When “the BTC basis trade” becomes everyone’s trade, it stops being a strategy and starts being a benchmark. Shift is built to tokenize not just one engine, but a repertoire of delta-neutral structures, strategies that can target higher yields because they’re: - less crowded, - more specialized in construction, - and operationally harder to run manually. 3) Sharing is Caring Perp DEXs increasingly compete with incentive programs. Everybody knows that. However, for most users it's hard to participate in these programs, as it requires active risk taking and management and capital. Most users end up with either crumbles of points or liquidated (and hopefully compensated by the future airdrop). Shift treats incentive upside as part of the return profile, and makes a clear commitment: 100% points/airdrop upside goes to depositors. Put together, these three levers are how Shift brings back excitement to delta-neutral: new venues, new structures, and fully user-aligned upside, all wrapped in the same one-click experience that made the category work in the first place.

Were stocks the obvious rotation from shitcoins all along for those already exposed to the bit? 🤔

Rethink Bull & Bear markets

Introducing Fluid DEX v2 🌊 We’ve taken inspiration from everything in DeFi to build something beyond just a better DEX — we're creating the most advanced decentralized exchange the crypto space has ever seen. 🧵 👇

Uniswap is the leading DEX, but internal misalignment is now slowing its progress. While it built one of the greatest protocols in its time, the lack of coordination between key stakeholders (Labs, the DAO, the Foundation, VCs, and Service Providers) is becoming increasingly evident. Each group pushes its own interests, and the results speak for themselves. Uni v4, the most significant upgrade in Uniswap’s history, has struggled to gain traction. Despite a major push to onboard developers including hackathons organized by the Foundation that resulted in 150 hooks being built, adoption remains low. Even with full public support from Uniswap and its team, the most successful v4 hook has only secured ~$3M TVL. Unichain, another major initiative, is facing an even harder time. Growth prospects remain unclear, and its success now hinges on securing $150M in DAO funding. This raises concerns because Unichain was developed without prior DAO approval and without a direct benefit to the DAO, yet it is now requesting significant financial support. The misalignment extends beyond just these two initiatives. The Foundation, which is supposed to serve the DAO, appears to be following its own agenda while requesting additional funds. Meanwhile, service providers naturally prioritize the entities paying them, which does not always align with what’s best for the protocol itself. These issues have led to a backward approach - Unichain was deployed first, and only afterward the Foundation is seeking DAO funding to drive its growth. $150M is a substantial amount of money, and spending it effectively requires strategic allocation, not just distributing funds to service providers without clear accountability. This isn’t just an outsider’s perspective, I am also speaking from the competitor's point of view. Since the launch of Uni v4, @0xfluid has grown its market share on Ethereum from 7% to 16%, a clear indication that Uni v4 hasn't found PMF yet. Fluid DEX is on track to double its trading volume next month, and our DEX v2 development is progressing faster than expected. DEX v2 will be the most advanced DEX that ever existed, and we are confident it will become the largest by volume this year. By concentrating on our core product and maintaining strategic alignment, we’ve been able to build faster and better with just a fraction of the resources.

Rn imo it’s kinda hard to tell what bunni is going to be, v2 is ambitious but it’s a wide net. Seems like they kinda shipped their own take on Maverick (shapeshifting), Sorrela (am-AMM), Fluid (rehypothecation), Aerodrome (overcomplicated pasta incentive infra w a vetoken), and they have LDF and more expansive programmatic liq mgmt stuff they are talking about but docs are a bit light and I don’t have a firm grasp on the nuances yet. Which one will be it’s flagship? My major hesitation for fluid dex v1 is you’re limited by the lending demand of its pairs. This is fine for correlated pairs and majors. Aave has multiples higher TVL than uniswap for major tokens like WBTC/ETH so if you assume decent lending market penetration, fluid doesn’t even have to win on efficiency to get a lot of volume. Correlated pairs idc about really bc the quotes are the same and those swaps are basically a public good, not gonna make you much money. For volatile pairs without a lot of lending/borrow demand, fluid is almost making a new product entirely, rather than improving on existing product with pmf. So then you have variables like does the lending/borrow earnings compensate for increased IL on levered LPing for volatile pairs, something they don’t have to deal with much for current markets. Further, LOTS of defi teams - charm, gamma/visor, xtoken & more - have tried autorebalancing/liq management on CLMMs and it’s very difficult. My understanding is fluid dex v2 is going to be able to do this effectively, and if they can, they probably see a lot of success and maybe even usher in a more vibrant defi meta where people short alts more bc there’s lending liquidity and everyone is fudding peoples bags and having fun idk. But yeah excited to read more about how v2 will work I look at Fluid as having a concrete edge/improvement over the status quo in lending, one with natural synergies for its dex product. Dex has a lot of upside potential if they nail v2, and if not it’s still a good accessory to badass lending protocol. So ya tldr bunni looked at uni v4 and is doing all the things. Fluid is based lending protocol with upside as a really strong dex with v2

1) What

DeSci can literally help save lives.