Blockworks Advisory

Blockworks Advisory leverages the curated and tested expertise developed at Blockworks Research to accelerate our protocol clients' path to success.

[Blockworks @Blockworks]

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[Blockworks @Blockworks]

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[Blockworks @Blockworks]

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[Blockworks @Blockworks]

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[Blockworks Advisory @BlockworksAdv]

Amazing example of what you can build using the Blockworks MCP

[Silvio @SilvioBusonero]

get personalized intel on your wallet holdings

learn something new about your assets with blockworks data. Solana and EVM supported.

try it here: https://t.co/SVjmckqSn9

[Silvio @SilvioBusonero]

get personalized intel on your wallet holdings

learn something new about your assets with blockworks data. Solana and EVM supported.

try it here: https://t.co/SVjmckqSn9

[Blockworks Advisory @BlockworksAdv]

https://t.co/wmJyygjEcj

[Blockworks Advisory @BlockworksAdv]

@emilianobonassi @BoundlessHQ we focused on Openrouter traffic only for comparability. We'll include more players in next pieces

[Blockworks Advisory @BlockworksAdv]

https://t.co/blN2oeSbdZ

[Blockworks Advisory @BlockworksAdv]

@Whyshock @orbiodotso we focused on openrouter only sellers for comparability. We'll feature more in the next article

[Blockworks @Blockworks]

NEW: Now tracking @OriginProtocol, a builder of foundational infrastructure for onchain yield.

Origin's new public dashboard covers their financials, OGN token, rebasing tokens, ARM vaults, risk, and DeFi integrations.

[Blockworks Advisory @BlockworksAdv]

The voting for ENA fee switch is live now!

https://t.co/d51XPjjuEc

[Blockworks Advisory @BlockworksAdv]

1/ Exciting news, the ENA fee switch is coming!

We backtested the @ethena new design across 705 days of real protocol revenue, USDe supply and ENA prices to see what it would actually have done.

$52.7M a year of ENA buybacks in the months it would have been running. Here is how it works and what we found 🧵

[Blockworks Advisory @BlockworksAdv]

6/ Our recommendations:

- Use the trigger on a 14 day average of USDe supply so one large mint can not switch it on
- Disclose and monitor what sUSDe pays after the take compared to sUSDS every period, so anyone can track the trend

We tested a hard cap that stops the take whenever sUSDe falls behind. Our results show it costs $4.7M of buybacks to buy about half that in benefit,and we find no evidence in the data that weaker sUSDe yield makes people unstake.

We believe the design is strong overall. It ties ENA to the growth of the actual product and anyone can verify it.

Find the full analysis here
https://t.co/s9pLN6DCZJ

[Blockworks Advisory @BlockworksAdv]

1/ Exciting news, the ENA fee switch is coming!

We backtested the @ethena new design across 705 days of real protocol revenue, USDe supply and ENA prices to see what it would actually have done.

$52.7M a year of ENA buybacks in the months it would have been running. Here is how it works and what we found 🧵

[Blockworks Advisory @BlockworksAdv]

5/ Result two, what it costs sUSDe holders.

On the 93 active days where sUSDe was paying more than sUSDS, it still paid more than sUSDS after the buyback on 82 of them.

On the other 11 it slipped just behind, all of them within a tenth of the benchmark. Small and worth understanding why it happens.

Here is why it happens at all. The buyback takes its 10% whenever USDe is large enough. It never checks whether sUSDe can afford to give up 10%. Usually it can, because sUSDe pays well above sUSDS and losing a tenth still leaves it ahead. On the days sUSDe is only just ahead, the same 10% puts it behind.

For context, sUSDe already paid less than sUSDS on 243 of the 705 days we looked at, with no fee switch running at all. This is a market condition the design lives with and not the condition it creates.

[Reflect @reflectmoney]

Reflect's first tranched market is open for pre-deposits, built on syrupUSDC.

syrupUSDC is the yield bearing asset issued by @maplefinance. This market splits exposure into two tranches, each with a different risk and return profile.

Deposit here:
https://t.co/pLujmD0mL2

[Blockworks Advisory @BlockworksAdv]

https://t.co/RkC1FGWPLT