Sweep Protocol

Savings bank for #DeFi | Sweep provides DEX users with one coin to save, bridge and swap 💫 Dollar Maxi

Join ▶️

[Supra @SUPRA_Labs]

Sup tribe, the master whitepaper for Supra Layer 1 is here 💪

We've built a lot of tech and released 10+ whitepapers so far and it can be tricky to follow how it all fits together into one blockchain stack, this paper summarizes it all

It's a high-level overview on the most advanced blockchain stack in the world today, Supra. It'll take you through:
0️⃣ Introduction to the Supra Layer 1 Stack
1️⃣ Native Vertical Integration of Blockchain Services
2️⃣ IntraLayer: Connecting Blockchains to Supra and Beyond
3️⃣ Supra’s Core Insight - Tribes and Clans
4️⃣ Transaction Flow on Supra Layer 1
5️⃣ Mempool-less Bucketing Scheme
6️⃣ Transaction Data Dissemination
7️⃣ Consensus Protocol
8️⃣ Execution
9️⃣ Epochs and Cycles
🔟 Supra Containers

People are finding Supra for the first time every day, and a lot more will discover us as we ship MoveVM mainnet⚡️

This paper will be the go-to DYOR resource to understand the overall capabilities of Supra Layer 1 (link in thread 🔗)

[Sweep Protocol @SweeprFi]

MICA in Europe pushes stablecoin issuers to hold money in banks. But, it's bad for banks to take deposits from stablecoin issuers because: 1) They are wholesale customers who move money in big chunks; 2) "stablecoin" is a "payment instrument" that assumes fast redemption; 3) fast money can only be held in central bank reserves and short term bonds, and not used in more useful ways.

There is a simple solution - put the fast redemption problem back to the stablecoin issuers. It's good for stablecoin issuers to behave more like banks with well-structured liabilities:
- They should have a variety of "staking" agreements with users to hold money, allowing the money to be put out in more useful ways
- They should allow their coin to depreciate if a big percentage of holders want to redeem at the same time. The redemption liquidity % per day could be committed in advance. If holders want more, then the fast redeemers should have to pay for their "liquidity preference"

Europe is a bit stuck right now because of poor analysis from rule makers. Globally, DeFi is naturally moving in the good direction.

[Disco Central Banker @Discobanker]

TO ALL THE NERDS INTERESTED IN THE IMPACT OF COLLECTING DEPOSITS FROM STABLECOIN ISSUERS OR ISSUING STABLECOINS ON BANKS' BALANCE SHEETS: MY PAPER JUST GOT PUBLISHED!!! 🔥

[Sweep Protocol @SweeprFi]

Elon is trying to destroy the dollar but doing a poor job of it. Dollar index is up 12% in the last three years. It is holding much steadier than any crypto over the last 1.5 years (5% range). Now causing problems for non-dollar holders. People like $

[Elon Musk @elonmusk]

Where are we with dollar value destruction, you might ask?

[RSS3 🟦 @rss3_]

🟦 🤖 ☁️ 🔵 🔴 🟡 🟢

Tune in on Friday for an #AI & Web3 Space with Michael Yung of @googlecloud

⏰ June 28 at 11am HKT
🔗 https://t.co/X03Ax8uN1M
👧 Host: @anniiii__ of @rss3_ with @openinfo_

[swen @swen_sjn]

Solana Devs:

It’s Solana Summer.

You now have *two* new tools to build entirely new awesome products:

ZK Compression & Solana Actions

The best way to predict the future of Solana is to build it.

Now is the best time to start.

Links to the opensource repos below

[Sweep Protocol @SweeprFi]

Media getting on board: https://t.co/rpF0n1xegF

This article mentions "semi-public markets", and the EQT project to create what they call "private IPOs". EQT CEO Christian Sinding is the source of the observation that IPOs don't have natural buyers

[Sweep Protocol @SweeprFi]

SEC versus crypto:
https://t.co/kJTIiPqzP9 via @YouTube

[Sweep Protocol @SweeprFi]

Very good point that I missed. The "90% of stablecoin transactions are fake FROM BOTS" didn't make any sense. "90% of transactions are between traders WHO USE SOFTWARE" makes a lot more sense. Sure, those trades mostly net out to nothing much. But, those trades are the brownian liquidity that floats the real economy. The great catch is that the off-chain financial system has 96% "fake" transactions. The off-chain systems are higher volume and cheaper, so traders use them even more.

[Sergey Nazarov @SergeyNazarov]

After spending the last few months visiting and speaking to many of the largest central banks, commercial banks and financial market infrastructures, across the world's top financial centers of New York, London, Sydney, Singapore, Hong Kong, Riyadh and now Dubai/Abu Dhabi, it is now clear to me that the transition of the global financial system into the blockchain/smart contract format, enabled by oracle networks, is well underway and in my opinion, inevitable.

https://t.co/mY68A7KgBF

[Sweep Protocol @SweeprFi]

@CCCTRX20 I a have a speaker request on the board. Thanks for the invite

[Meltem Demirors @Melt_Dem]

can we be done with points now?

[Sweep Protocol @SweeprFi]

We're preparing a release for Tron to serve holders of $56B in stables. Today's post from @MessariCrypto shows the opportunity and challenges. Tron revenue and asset value look good. DeFi activity is small, reported as $11M in DEX trading on $8100M in TVL. Can we work with the @trondao community to find a DeFi channel?

[TRON DAO @trondao]

#TRON Q1 2024 Performance Review

📈 TRON's market cap soars 15%, marking another quarter of consistent growth.

🛠️Protocol revenue hits record $128.1M, ranking in the top 3 among all #blockchain networks.

More from @MessariCrypto ➡️https://t.co/2kseAEsULs

[Sweep Protocol @SweeprFi]

We like ApolloX ALP for a high rate of mostly delta-neutral return. It reported 77% APY in the last period, and our observation of revenue found this to be accurate. It did have a 2% value drawdown in January. The borrower (currently the protocol) covers the risk of drawdown with 10% capital. In this case, the reward justifies providing some capital and taking some risk.

Sweep is expanding its ability to find yield across seven blockchains. Follow this space for research and deployments.

We will be able to have some fun hunting for yield because Sweep assets are small now. Small can be beautiful.
- The interest rate for large pools of savings is set by the fed with US short term rates.
- The rates for medium-sized DeFi savings pools are set by the demand for perp and margin funding.
- As long as Sweep assets are small, we'll be able to beat the standard DeFi rate by going into pools that also earn from rewards and trading

[Sweep Protocol @SweeprFi]

Sweep has deployed assets to ApolloX - @APX_Finance. ApolloX lets us take the other side of perp trades - like Ethena - in an even hotter environment with our first asset on @BNBCHAIN

[Sweep Protocol @SweeprFi]

The dollar is the world's most popular currency because it is
- useful everywhere, even in crypto
- paying interest
- supported by a Fed that will supply dollars when borrowers need them, driving BTC maxis crazy

[Sweep Protocol @SweeprFi]

Dollar maxi here. Anyone want to debate why $USD is more popular than $BTC ? Let's go

[Sweep Protocol @SweeprFi]

Yes that is a good approach to building capitalization and commitment. The whole thread is worth reading.

[Regan Bozman @reganbozman]

42/ The folks at @6thManVentures did some great research and generally found that smaller unlock events had less impact on price than large ones

I think right direction is something like 20-25% circulating at TGE, 0 cliff, 36 mo linear unlock

https://t.co/zYdWkmOn4I

[Toe @_ThePinkyToe]

1/Bitcoin has fallen over 15%, ETF flows look soggy, and the macro backdrop continues to instill uneasiness. DeFi, however, just witnessed its best quarter in two years.

Let’s take a look at the State of DeFi:

[Sweep Protocol @SweeprFi]

Dubai gets 3.7 inches of rain in an average year, and got about that much last night. Feels like home.

[Sweep Protocol @SweeprFi]

Meeting up at Token2049 in Dubai