BNB Chain is creating a real revolution in how users engage on the network. New ATHs prove it all. Grab the opportunities on @BNBCHAIN below. A thread🧵.

Last week upgrades and remindings: @Morpho has raised another $175m to build the open credit network for the world @ethena collabs with @centrifuge as a strategic tokenization partner STRK20 privacy token standard is already live on @Starknet @base completed their BaseLayer season 2, hinting the season 3 @Uniswap launched their in-app wallet on Uniswap Web App @aave v4 crossed $150m in deposit DeFi is moving depsite the bear.

Just claimed this card via the ref of @andrewmoh. The World Cup is starting today, and the heat around PMs is boosting higher than ever. In my opinion, a model of promoting users who hesitate to predict, like @Predictstreet, is interesting. They offer a personal card that reveals users' journeys on the platform and it's upgraded upon points, not just PnL. It feels like a hybrid model of Polymarket and Hyperliquid.

AI agent tool and infrastructure on @base is endless. And it doesn't stop at theoretical; real product is already out. Also, x402 plays an important role in connecting all of these projects, showing strengths in these aspects: Microtransactions Autonomous transactions Cross-chain and cross-border transactions Without x402, agents lose 50% of their power. Base is making x402 a standard integration for all native protocols. It's Base szn.

Market Outlok #8 1/8 On-chain RWAs have surpassed $34B, up roughly 100% Year-over-Year. More importantly, RWA growth is now outpacing stablecoin growth by 6.4%, up from 2.7% in 2025. The data is becoming impossible to ignore. A breakdown of where that growth is coming from🧵

At the moment, I have a strong belief that @base is the most active L2 in terms of pushing their ecosystem hard. Tons of AMAs, campaigns, and community engagements have been hosted on Base, gathering well-known names so that users can access them in the early phase. That's how Base maintains a solid user base even in the bear market. It's easy to pick up a few random names from Base, but these names stand out as they're in a mature status that may attract your involvement. Let's start with the latest frontiers on Base. @yield - the DeFi yield core (Yield Basis) for users on Base, now introducing Risk Graph as a real-time risk tool for mapping dependencies across assets, protocols, and chains. @travalacom - latest x402 integration on Base, allowing agents to search, book, and pay, powered by the Travala Travel MCP: the first agentic AI travel protocol. @SynFuturesDefi - a strategic L2 in SynFutures’ multichain V3 roadmap, allowing it to tap into Base’s growing perp DEX activity and community-driven assets. @8004_scan - a web explorer and dashboard for ERC-8004 agents, allowing users to discover, interact with, and track leaderboards and feedback for agents. @Quicknode - blockchain RPC and data infrastructure to support Base in launching testnet, mainnet, dApps, and on-chain products; also 1 million free RPC requests per month, per agent are now available via x402 on Quicknode. @avantisfi - the perp layer on Base MCP, transactions can be totally made via Claude. @DefinitiveFi - offering an on-chain trading terminal and API that delivers CeFi-like execution, order types, and cross-chain routing; presenting in the BaseLayer S2. It feels like x402 is rising fast on Base.

There are many criteria to rank PMs, but no matter what criteria you choose, the answer always comes back to two names: @Polymarket @Kalshi The PM landscape feels like a game for two. Polymarket and Kalshi do not live by rumors of tokens; they live by a huge user base. And the World Cup is coming close; PM has been preparing for this moment for almost a year. It's now high time.

It's hard to launch startups right now, in the middle of the bear market. In my opinion, the traditional macros that a startup would focus on are: How dense is the narrative User growth landscape Marketing and GTM plan All of these things feel unreal when you don't know where to start. I'm pretty surprised that the startup launcher model is still working well. Start with: @ProductHunt @BetaList @UneedLists @tinystartupscom @tinylaunch They're not following the incubator model; just dive in to join the forum of startup founders.

.@OndoFinance skips a massive gap in TVL in RWA narrative. At $3.6b and rising TVL, Ondo made a huge gap with the rival @USDai_Official (at only $331.6m TVL). This helps Ondo accounts for over 80% of the overall TVL in RWA issuers. Ofc, this figure excludes stablecoin issuers, where no one can compete with Paxos or Circle.

Tokenized equity is not a race, it's a war. @OndoFinance shows absolute strength in this war, accumulating over 60% market share at 231 products. This comes from the introduction of Ondo Global Markets, and also from the path that Ondo has been walking since the start of RWA wave. Now CEXs have been introducing tokenized stocks on spot and perps, the plan should integrate Ondo for fastest route. Kinds of integrations that suit Ondo: In-wallet integration Plugged-in platforms Social trade It's Ondo time now.

24/7 markets are becoming the new standard. With @OKX X-Perps, US stocks, ETFs, gold, silver and oil are tradable around the clock, with up to 10x leverage. Interesting step toward a truly global market.

Follow these guys for an underestimated bear market. Not gonna say this, but every KOL of any size is only mastering some niches; there's no one who can cover all the aspects on X. And if you're getting lost and don't know where to focus during the bear, here are some suggestions before we jump into the list. Maintain the habit of reading (even not on X) Bookmark your favorite reads because you may want to read them again in the next couple of months 50% of the bear is learning, so you may want to keep good mental health to follow the beat And here's the list, including their strengths and advantages. @stacy_muur - head of GREENDOT The ones with precise data from teams and companies that are trying to connect with web3. I'm impressed by how Stacy built a research hub with all the deeply researched articles that suit any audience. @Defi_Warhol The one who inspires me with the series Project Tier List. Besides those lists, Warhol is well-known for his unique insights and wide coverage of projects and teams, especially in CeDeFi. Ongoing topic: Neobanks and cryptocards. @zaimiri One of the tech guys who delivers the fastest guidelines around new helpful tech for building your profile. You can learn a lot about Hermes or Claude from his articles. @Eli5defi One of the OGs that I followed earliest on X, well-known for perfect graphics on every post. Also, Eli5 delivers nice examples of using the products, not just giving introductions—which can help onboard users a lot. @the_smart_ape One of the big chads out there, having an experienced mind in the financial market and also techie stuff, well-known for million impressive articles around privacy and web3 security. @andrewmoh The one who shaped the Kadic of today, Andrew has been delivering strong pieces of educational posts around web3 and also comprehensive reports on emerging niches. It would be a huge miss not to mention this guy. The daily life articles sound interesting to me; I think he can keep this series up. @0xgilllee One of the emerging guys in my close connections. Being a daily poster makes Gilmo worth following. Readers can find good insights and new data angles from his posts. @nick_researcher Giving out personal sentiments on every niche that Nick is touching down on. And he's showing nice progress in graphics; congrats! @arndxt_xo The macro deep analyst, you can find weighted analytics from his account that requires quite an entry barrier to understand. And this is the end of Part 1.

There will be more emerging sectors in the upcoming time when the market reveals the need. Other sectors that should follow my current list (pretty niche): Crypto cards and neobanks Stable yield providers NFTs and collectible cards Privacy Ofc, perpetual trading is still one of the most attractive narratives so far, but it's not a long-lasting one.

Protocols tend to explain their risk model after something fails. @sparkdotfi publishing its full risk playbook now feels like a pretty confident move, especially while the market is still dealing with exploits and shutdowns. Basically, when a loan goes bad and someone has to cover it, depositors are usually the first ones to take a loss. Spark made it so they're the last in line during a scenario like this. It's a meaningful design choice for their entire community. Let's see how they handle these worst-case scenarios in-depth ↓ 1/ Loss absorption model Losses are covered in this order before depositors are affected: → Spark's own reserves → Outside investors → Protocol's savings → A shared safety fund across the wider Sky Ecosystem → Newly minted SKY (as a final backstop) For user deposits to take a hit, all of those protection layers would have to be wiped out first, and that's highly unlikely. Spark is also adding more protection for depositors. @SkyEcosystem recently put $150M into a dedicated reserve instead of using it for SKY buybacks, giving Spark another buffer before user deposits start getting affected in a worst-case scenario. A security model with so many defensive layers for users is a pretty rare sight in DeFi, at least for me. 2/ Asset containment All of these protection layers are a backup plan. Spark's design is mostly about making sure it never has to use them. A lot of its yield comes from moving idle stablecoins around, and most of that is automated. So the obvious question is, what happens if someone hijacks it? The automation can only send funds to pre-approved places, and only in limited amounts. So even if someone somehow got control, they wouldn’t be able to drain the whole system. They’d be stuck moving tiny amounts into the same audited venues Spark already uses. The same approach applies to bridge exposure, which is one of the most common sources of major crypto exploits. Spark deliberately caps its bridge exposure at around $2M, even though the protocol itself holds billions. 3/ Pricing without single points of failure The other place lending protocols usually break is pricing. Most lending hacks are just fake value attacks. They make collateral look more valuable than it is and borrow real assets against it, leaving the protocol stuck with holding the worthless asset. Spark makes this process super difficult by: → Not relying on one price source → Adding extra protection around assets that are more likely to drift from their expected value (staked ETH, wrapped Bitcoin) That’s the whole point of this pricing system: bad collateral shouldn’t be allowed to turn into debt for the rest of the users. 4/ A live stress test Risk frameworks sound nice on paper. But the real question is what happens when they get tested in a real scenario. Earlier this year, rsETH ran into serious trouble after a lot of lending markets had already accepted it as collateral. Spark had cut rsETH months before the trouble started, so the damage never reached its system. That was well-timed risk management. Over the past year, Spark has been steadily removing older, smaller, and lower-usage markets. The whole thing comes down to one word: containment. When something breaks (and in crypto, something always eventually does), the damage should be contained as much as possible. The infrastructure underneath Spark has run for the better part of a decade without a single known smart contract exploit, which is quite rare in DeFi. On top of that, the Spark Savings vaults are independently rated by Credora. Of course, none of this makes Spark unbreakable. But after watching so many protocols run with weak risk plans, or no real plan at all, I respect how seriously Spark seems to take this side of the product. Other protocols should take notes.

This is what I meant when I said crypto is maturing. We are officially at the same table as the biggest names in global finance. Trillions in capital are now moving toward blockchain infrastructure. The real story is the fight for payment rails: Banks plan tokenized deposits by 2027, bringing 24/7 programmable money to their system. Payment giants are working with @coinbase to roll out stablecoin infrastructure and go after a market worth hundreds of billions. Crypto is the base layer. And the biggest financial players are building on top of it to shape the future of money.

Recent updates in the web3 world: RWA perp is the trending hot search, deployed on major CEXs and DEXs including @HyperliquidX, @binance, @okx. @opensea pivots to perp trade, supported by Hyperliquid, paving the way for perp trade on NFTs. @Aptos takes the lead in RWA gain in the past 30 days. @aave v4 crossed $115m in deposits, still a long way to climb. @NousResearch launches the desktop version of Hermes. @base introduces their Base MCP to support agent integration.

In the digital era, I think it's quite impossible to wash off our identity. So what you've been building on X (not your identity) - it's your persona. Web3 identity may sound different from the real one: cool avatar image faceless images things written based on personal experience It reflects only your persona, telling the voices inside you. Your real identity may print money for exploiters, but your persona may only print money for you.

Another way to trade RWA directly on OKX @wallet via the integration of @xStocksFi. Tokenized equity is now the market leader. The slogan should be: Treat RWAs just like tokens. In the meantime, when most big tech stocks are crossing $BTC in total capitalization, users tend to hold more stocks. Then why not tokenized stocks? Easy and web3.