We have some great new challenges prepared, come hack with us!

As far as NFT metadata is concerned, the ghosts of the past will continue to haunt us. ~~ Analysis by @punk5268 ~~ There are a variety of ways to underpin the media of NFTs. For durability I've always gravitated toward onchain projects, of which there are many shades: • Semi-onchain — some metadata is stored onchain, but not all • Hashed onchain — NFT contracts host a cryptographic hash that permanently references offchain data • Hybrid onchain — a project deploys a separate onchain collection to archive an earlier offchain collection • Fully onchain — all the data needed to display an NFT lives within the collection's smart contract • Inchain — NFT visuals are generated live by fully onchain code at render time rather than stored as files Each method has pros and cons. Yet broadly speaking, putting things onchain is costlier than offchain storage and requires more smart contract expertise. As such, offchain storage, where only NFT tokens live onchain while their metadata is hosted on external platforms like IPFS or private servers, is the status quo for most NFT collections from the past 5 years. The problem is that IPFS pinning often wanes with time, and many startups go bust and shutter their private servers. In these cases, only the tokens remain as worthless remnants that can no longer display their imagery. There are plenty examples of lost NFTs from recent years, but you can see for yourself. The new NFTimeless app lets non-guest users get a condition report for their NFT collections showing which NFTs are offchain and broken. For collections that are already broken, there's nothing to be done. But fortunately for projects with offchain storage that haven't been lost yet, they can employ a rising technique for retroactive durability that doesn't require deploying a second collection: ERC-4804. This standard is like an HTTP-style system for Ethereum, introducing a new kind of URI web3:// that lets NFT metadata be fetched directly from smart contracts. The URI doesn't point offchain, but rather describes an onchain read. When an NFT marketplace sees a web3:// URI, it can translate the provided ENS link into an eth_call, execute it against a smart contract, and treat the returned data as NFT metadata. For example, imagine an NFT contract whose tokenURI(123) returns web3://testcollection.eth/tokenURI/123: ➢ A marketplace resolves testcollection.eth via ENS to an Ethereum address ➢ It calls tokenURI(uint256) on that contract with argument 123 ➢ The contract returns JSON metadata (name, description, image, attributes) ➢ The marketplace renders the NFT using that data, just like it would with IPFS but without any offchain dependencies This approach means metadata can be generated or stored entirely onchain, either in the same NFT contract or in a separate metadata resolver contract. The web3:// scheme makes calls verifiable and independent of any gateway staying online. This is powerful because it's a straightforward way for old NFT collections to keep their original token contracts untouched, deploy new onchain metadata contracts, and update their baseURIs to point to the relevant web3:// ENS link. It's just a new pointer system, so no NFT migrations are needed. After any updates, marketplaces would fetch metadata directly from Ethereum itself, and thanks to the URI anyone can reproduce the necessary calls forever. This standard also matters because even projects that do store their art and metadata onchain have historically been forced to publish ipfs:// or https:// baseURIs as apps and wallets didn't know how to read anything else. Now these projects have a viable onchain alternative. Another important wrinkle: @opensea just added support for ERC-4804. It's a big validation for the standard and an indication that it can gain serious traction from here. The minting platform Carve is already planning on adding support, and more integrations will follow. As we look ahead, one thread I'll be watching is ERC-4804 adoption. It could quietly become one of the most important tools we've seen yet for NFT durability in the Ethereum ecosystem.

“After moving from Berlin to Silicon Valley, I found myself bored at a new school — so I started spending time at my dad’s SAP Lab: fast internet, endless reading, and the beginning of my love for technology.” Our host @kenzixbt sits down with @michaelh_0g (@0G_labs) to trace his origin story — from early curiosity and a growing obsession with tech to his path into Web3, and ultimately, the founding of his company.

“DA layers really differ across three dimensions: performance, programmability, and AI-native design — because on-chain AI can’t operate in a world measured in mere megabytes per second.” @sachitakahara catches up with @michaelh_0g, Founder of @0G_labs, to break down how 0G compares with Celestia, Avail, and EigenDA: why throughput needs to increase by orders of magnitude, how to move beyond the broadcast bottleneck, and why a decentralized storage network is essential for ultra-fast data ingestion and retrieval.

“Back in 2016–17, crypto felt like a true idea factory — hundreds of experiments, zero gatekeeping, and pure creative energy.” Our host @dikshaarden sits down with @michaelh_0g, Founder of @0G_labs, to explore one of the most exciting parts of building in Web3: a culture shaped by experimentation first. They also dive into how tokenization creates new ways to fund and sustain projects — including open-source work — beyond the limits of the traditional Web2 business model.

This week’s episode features Michael Heinrich (@michaelh_0g), founder of 0G Labs (@0G_labs). We dive into Michael’s journey from high school boredom to building 0G Labs, the first modular AI blockchain platform, and how an unconventional path shaped the way he thinks about leadership, focus, and company building. The conversation explores how spiritual practices like meditation influenced Michael’s mindset as a founder, helping him build with more clarity, discipline, and long-term conviction. Michael also breaks down the future of decentralized AI infrastructure, and why community-owned data and compute networks may become one of the most important foundations for the next era of artificial intelligence. We dig into how 0G Labs is building AI blockchain tools and applications that connect decentralized networks, unlock data infrastructure, and make storage, machine learning, and AI systems more open for businesses and builders. At its core, this episode is about the intersection of AI, crypto, data ownership, and founder psychology — and why the next wave of AI infrastructure may need to be decentralized from day one.

Stablecoins are the plumbing of DeFi—yet most of today's supply is tethered to TradFi approaches. When a stablecoin is custodial, you inherit the issuer's worldview, legal pressures, and blacklisting risks. If it's backed by real-world assets like U.S. Treasury bills, holders don't get direct, onchain redemption rights. This is why trust-minimized stablecoins matter, and why three new projects are worth watching.👇 ~~ Analysis by @KieranSolberg ~~ Trust-minimized stablecoin protocols run on immutable code, use crypto-native collateral, and offer redemptions via onchain mechanisms. We've seen various projects over the years, including @SkyEcosystem's Single Collateral DAI, @reflexerfinance's RAI and HAI, and @CurveFinance's crvUSD, but none have seen breakout success. This niche is getting interesting again as newer designs pave fresh paths forward. Today, we're looking at three recent shots on goal: Liquity V2, Money League, and Polaris. Liquity V2 @LiquityProtocol V1 earned its reputation by being stubbornly narrow. It runs on immutable contracts, only supports ETH as collateral, and largely eschews governance. Liquity V2 kept that DNA but widened the design space when it launched in 2025. Now, the borrowing protocol lets users deposit ETH or liquid staking tokens like WETH, wstETH, and rETH to mint BOLD, a USD-pegged stablecoin. Beyond expanded collateral support, V2 introduced user-set interest rates. Instead of governance deciding borrow rates, V2 borrowers choose their own, and the protocol uses those market rates as a core stabilizer for BOLD. Think of this like a market-driven monetary policy system that responds to BOLD being above or below $1. V2 routes its economic flows back to users via two avenues: ▻ Stability Pools ("Earn"): Deposit BOLD to earn yield sourced from borrowers' interest payments plus liquidation gains. ▻ Protocol-Incentivized Liquidity ("PIL"): A hard-coded slice of revenue supports BOLD liquidity, directed by LQTY stakers via gauge voting. The result: a project that aims to turn stablecoin stability into a competitive onchain market. The model is readily extensible via Liquity's Friendly Forks program, which allows other teams to deploy their own licensed stablecoins using the V2 framework. Money League Want to deploy a custom stablecoin, but you don't have the technical know-how to manually fork the Liquity V2 codebase or don't want to enter a licensing agreement? This is where @0xMoneyLeague has positioned itself. It's an EVM platform being designed so anyone can readily deploy censorship-resistant stablecoins through a factory model. Instead of teams needing to design an entire bespoke stablecoin protocol from scratch, Money League provides standardized plug-and-go modules derived from the RAI/HAI stables lineage. The protocol lets you handpick your stablecoin's supported collateral (e.g. ETH only), peg mechanics (e.g. floating), risk parameters, and beyond. From there, your deployment operates as its own independent stablecoin protocol. All deployments are linked through a shared incentive layer built around the MERIT token, which can be redeemed for Money League treasury assets. Stablecoins compete for emissions by routing fees or offering incentives to gauge-style veMERIT voters. Instead of yet another stablecoin aiming for perfection, Money League is fostering many stablecoin experiments in parallel, creating a market where the best designs win liquidity, legitimacy, and distribution. Polaris The newest arrival in the trustless stables category is @polarisfinance_. In its early stages, this stablecoin protocol will be fully onchain, and instead of generating yield from external RWAs, it will do so by harvesting internal volatility around its pUSD and pETH tokens through a special bonding curve mechanism. As adoption around Polaris grows, the system's own onchain activity increases, so the central yield source scales upon expansion rather than being compressed away as is often seen with RWA-centric stablecoins when their deposits grow. The second central idea: Polaris is also openly positioning itself as forkable stablecoin infrastructure, where many stable assets (like pGOLD) can share the same pETH collateral base and grow together as a mutualistic constellation. For now, we'll have to wait and see how Polaris fares—how its bonding curve operates, how its system behaves under stress. But the builders are posing an ambitious new crypto-native vision for stablecoins in DeFi. Different Approaches Looking at these projects side-by-side, it's clear they're not clones. They're different technical attacks on making better DeFi-native stablecoins: ▻ Liquity V2 wants to make a better trustless dollar stablecoin by letting the market set rates and routing revenues toward stability. ▻ Money League wants to make stablecoin experimentation cheap and permissionless and to surface the best performers. ▻ Polaris wants to escape the yield scaling trap by harvesting its own onchain volatility instead of relying on offchain RWAs. There's no guarantee any one of these models wins outright, but that's besides the point. What matters is that the trustless stablecoins frontier is moving again, and these are the projects setting the tone today and inspiring the stables of tomorrow.

EXCLUSIVE: @CARDANO FOUNDATION IS STEPPING INTO A MORE ACTIVE ROLE TO DRIVE ADOPTION Cardano Foundation shifts strategy: seeding DeFi liquidity, backing an $80M venture fund, and signing enterprise deals to drive adoption and shore up onchain metrics. "In the last six months we started to do some active market making and helped on some AMMs,” @F_Gregaard said in an interview. Read more: thedefiant.io/news/blockchai…

“What happens when someone inside one of the most iconic retail platforms of the last cycle sees its limits up close?” @kenzixbt speaks with @jayendra_jog, Co-Founder of @SeiNetwork, to trace the path that took him from the early days of Robinhood in Palo Alto — through hypergrowth, the IPO era, and the shock of the GameStop moment — to building in crypto. They discuss how witnessing the mechanics and constraints of traditional financial infrastructure firsthand reshaped his thinking, why the suspension of buys during one of retail’s most defining episodes left such a lasting impression, and how that experience ultimately pushed him toward systems designed to be more open, more resilient, and less dependent on centralized control.

“High-performance infrastructure only matters if it expands what users can actually do onchain — and makes that experience accessible at scale.” @sachitakahara sits down with @jayendra_jog, Co-Founder of @SeiNetwork, to examine why parallelized execution is becoming increasingly important for the next generation of onchain applications. From trading and DeFi to high-frequency user activity that simply breaks in low-throughput environments, they discuss how lower fees and greater execution capacity can fundamentally reshape the user experience — especially for smaller participants who are otherwise priced out. They also explore how this plays out in practice through projects like Bancor’s Carbon DeFi, where Sei has emerged as the ecosystem driving the strongest activity and volume, underscoring how performance advantages translate into real adoption.

“Virtual machines are like cities — once they reach critical mass, they become magnets that are incredibly hard to displace.” @dikshaarden catches up with @jayendra_jog, Co-Founder of @SeiNetwork, to unpack this idea at a deeper level — why systems with flaws can still dominate simply because that’s where the activity, liquidity, and people already are. From New York and San Francisco to onchain environments like the EVM, they explore how network effects compound over time, why newer ecosystems struggle to pull users away even with better tech, and what it actually takes to break that inertia.

This week’s episode features Jayendra Jog (@jayendra_jog), Founder of @SeiNetwork. We dive into Jay’s journey from traditional finance at Robinhood to building Sei Network, and unpack how his view of markets, users, and product feedback shaped the way he thinks about blockchain infrastructure. The conversation explores the parallels between established cities and virtual machines: why dominant systems like the EVM are so difficult to displace, what makes developers stay, and what it actually takes for a new ecosystem to earn attention. We also dig into the need for higher throughput in Web3, how parallelization can help solve today’s performance limits, and why scalability matters if crypto applications are going to serve real users at a much larger scale. Jay also reflects on the role of memecoins, not just as speculation, but as community-driven movements that can reveal how culture, attention, and network effects form onchain.

Liquidity shouldn't care which chain it lives on. The 0x Cross-Chain API puts 12 bridges behind one integration, so value moves to where it's needed. OP Stack is one of them. Good luck to the team.

“If researchers join because of incentives, you're already losing.” @sachitakahara talks with @ethan_myshell, Founder & CEO of @myshell_ai, about the AI talent crisis in crypto, why many researchers view the industry as speculative, and how open-source releases, real product-market fit, and world-class audio models helped build a community focused on technology rather than tokens.

“Oxford, computer vision, VR, gaming, crypto, AI — one founder arc across every major tech wave.” @kenzixbt catches up with @ethan_myshell, Founder & CEO of @myshell_ai, to unpack how skipping classes at Oxford led him from frontier research into consumer products and eventually AI x crypto: why researchers often miss mass adoption, why consumer instinct matters more than ever, and how the next generation of crypto AI products can break out beyond the niche.

“I mined Bitcoin in 2011, but I completely missed why it was important.” @dikshaarden sits down with @ethan_myshell, Founder & CEO of @myshell_ai, to unpack why AI and crypto may finally be converging: Ethereum's shift from static ledgers to programmable applications, the infrastructure breakthroughs behind account abstraction and social login, and why years of progress in AI, machine learning, and robotics are now colliding with a crypto ecosystem that may finally be ready for real-world products.

This week’s episode features Ethan Sun (@ethan_myshell), founder of MyShell (@myshell_ai). We dive into Ethan’s journey at the intersection of blockchain and AI, and the founding story behind MyShell - a platform built to make powerful AI models accessible to non-technical creators. The conversation explores how MyShell is opening up a new wave in the creator economy, where users can build, share, and interact with AI agents without needing deep technical knowledge. Ethan also breaks down MyShell’s transition from Web2 to Web3, the role blockchain plays in the platform, and why crypto can unlock better coordination between users, creators, and open-source AI researchers. We also dig into the unique perspective on crypto and AI from China, the rise of consumer-facing AI products, and why the next major wave may come from platforms that connect creators directly with open AI infrastructure. A deep episode on AI, crypto, creators, and the consumer layer needed to bring AI to the next generation of users.

“What if the real unlock for AI x crypto is not speculation — but proving intelligence can be trusted?” @sachitakahara sits down with @dcbuilder for a deep dive into the intersection of AI and crypto, from DC’s work building the ZKML community to why zero-knowledge machine learning could become a core trust layer for AI on the internet. They break down how ZKML makes it possible to prove that a machine learning model produced a specific output from specific inputs — without forcing everyone to rerun the full computation themselves. The conversation also explores why this matters for model accountability, transparency, and verifiable AI at scale, plus the projects pushing the space forward, from Modulus Labs and Giza to EZKL and new research around proof of inference.

“What if a Web3 identity starts less as a brand — and more as a challenge to yourself?” @kenzixbt catches up with @dcbuilder for a deep dive into the origin of the DC Builder name, pseudonymous identity, and why crypto culture made merit feel more important than background. They break down how the 2021 analyst wave, DeFi Twitter, and the ability to be judged by ideas alone shaped the way DC entered the space — first as a researcher and writer, then as someone who wanted to become a builder. The conversation also explores why “Builder” became a social forcing function, how pseudonyms create contrast and memorability, and why in Web3, what you think and what you build can matter more than who you are offline.

“Why does Web3 research feel more alive than any other industry?” @dikshaarden joins @dcbuilder for a conversation on what makes crypto research so unique: the open debates, the public forums, and the fact that anyone can go from reading an EIP to DMing the people shaping Ethereum’s future. They break down why Web3 research isn’t locked behind institutions or closed rooms — it happens in real time, across threads, forums, chats, and communities where ideas can move fast and still go deep. The conversation dives into how this openness changes the role of a researcher: not just observing the space, but actively entering the flow of proposals, technical debates, and protocol-level thinking before they become mainstream.

This week’s episode features DC Builder (@dcbuilder), Research Engineer at the Worldcoin Netwrok (@worldnetwork). We dive into Worldcoin’s mission to democratize digital identity and finance worldwide, and why proving personhood could become one of the most important primitives for the next era of the internet. The conversation explores the challenges behind verifying real humans at global scale — from web of trust systems to biometrics — and how Worldcoin approaches identity, privacy, and fair wealth distribution. DC also breaks down the role of Semaphore, zero-knowledge proofs, and privacy-preserving infrastructure in making digital identity usable without turning it into surveillance. We also dig into the emerging ZKML space, the intersection of crypto and AI, and why machine learning, verification, and decentralized systems may become one of the most exciting frontiers in Web3. A deep episode on identity, trust, ZK, AI, and the infrastructure needed to make the digital world more human.