CryptoSetups 🪩

Crypto Setups Founder | DeFi educator | Eye on Icon - Podcast Co-host

[CryptoSetups 🪩 @CryptoSetups_]

With competition in the L1 space at its peak, could Avalanche be the network that provides the infrastructure and appeal for anyone to build and participate on?

In this episode, @MattSchmenk discusses everything @avax —from its L1 ecosystem to how programs like Boost are bringing the fun back to DeFi.

[Min 🥤 @minhokim]

EP 1: Migration – Finding Hope in a New Realm

I’ve personally launched a small side project in collaboration with VIIM Studios in Korea. Nothing huge. Just a fun experiment combining A.I. and storytelling.

@gosodax team is obviously obsessed with crypto. But here’s a fun fact: a lot of us are also big anime fans. So I thought… why not mix the two?

As the title suggests, the theme of this first episode is $SODA Token Migration. The 'New Realm' is @SonicLabs, of course! Can you spot other metaphors in the vid?

If you enjoy this kind of content, please Like, Share, and Follow. I’d also love to hear your ideas for future episodes — drop your thoughts in the comments!

Sodie has just arrived in the New Realm — a dazzling, neon-lit world where night and light blur together. Lost and disoriented, she stumbles a mysterious vending machine called SODAX. Hesitant, she inserts a foreign coin called ICX, unsure if it will be accepted. The moment the machine whirs to life, everything changes. Shadows give way to light, uncertainty transforms into wonder, and a new possibility emerges.

This encounter marks the beginning of Sodie’s journey as a ‘Solver’ — a rare courier capable of traversing realms and keeping humanity connected.

[Lisa Verheul @lifeofkaizen]

Took a break from money markets to tackle the exchange upgrade & widgets.

Now we’re back with the signed-out state, which includes a calculator to remove the guesswork before you take action.

Still lots to do, but finally happy with the core experience.

https://t.co/6I8qWoFjrV

[Raoul Pal @RaoulGMI]

Can't miss Drinks with Raoul tomorrow at 6p ET

I'll be giving away 1000 $USDC to one lucky winner!

To enter:
1. Join the @RealVision waitlist (link below)
2. Drop a screenshot with the email confirmation & mention 2 friends in the comment (NO bots!)
3. Like & RT this post

[CryptoSetups 🪩 @CryptoSetups_]

@RaoulGMI @RealVision @real_digidavid @Shenolds

[CryptoSetups 🪩 @CryptoSetups_]

@cryptomanran 60 gwei is 1500 in gas fees on eth?

Were you on testnet by chance?
Cause Solana testnet was flawless during the crash.

[CryptoSetups 🪩 @CryptoSetups_]

@MitchellDemeter Also bought the dip 👀

[SODA @sodaholders]

Approval to begin Network-Owned Liquidity (NOL) migration to @gosodax

Liquidity Loading...
▓▓░░░░░░░░░░

[Sonic @SonicLabs]

Sonic Sync ft @gosodax https://t.co/6xHqVnf9fz

[SODAX @gosodax]

Welcome to our first 1,000 followers! 🥤

Join the waitlist @ https://t.co/mzhtwPk8jY

[Balanced @BalancedDeFi]

The Balanced trade experience just levelled up.

You can now see the USD value of your swap, supply, or transfer upfront, so you can complete your transactions with confidence.

Try it out from https://t.co/UIZtDY0E8X.

[bsmokes.eth @bsmokes]

I was told Solana is beating Ethereum in every metric so I decided to compare metrics:

Total Value Locked:
Ethereum: $75.825B ✅✅✅✅✅
Solana: $10.376B

Protocols:
Ethereum: 3714 ✅✅✅✅✅
Solana: 181

Active Addresses:
Ethereum: 2.04m
Solana: 6.49m ✅✅✅

Fees 24h:
Ethereum: $6.32m ✅
Solana: $11.26m

Stablecoin MC:
Ethereum: $97b ✅✅✅✅✅
Solana: $4.5b

Revenue 24h:
Ethereum: $4.79m
Solana: $5.63m ✅

Volume 24h:
Ethereum: $2.8b
Solana: $6.8b ✅✅

Inflows 24h:
Ethereum: $77.82m ✅✅✅✅✅
Solana: $2.45m

Market Cap:
Ethereum: $365b ✅✅✅
Solana: $110b

RWAs:
Ethereum: $2.98b ✅✅✅✅✅
Solana: $134m

... Idk man, one of these two chains seems to be more clearly dominating the metrics to me.

The numbers make sense given their narratives. Solana is the home of the shitcoin casino (i.e. volume) while Ethereum is where people trust to store absolutely massive amounts of value.

[Jarrod Watts @jarrodwatts]

Beam Chain was the biggest announcement at Devcon, introducing 9 major upgrades for Ethereum.

But most people still don’t understand them...

So, here are 9 tweets to explain the 9 upgrades: 🧵

[CryptoSetups 🪩 @CryptoSetups_]

@arjunnchand Yep agree, alto maintaining many stacks becomes a problem.
Then audits for each stack becomes expensive.

Then convincing aggregators to use your platform becomes a battle, as they tend to stick to the familiar.

[CryptoSetups 🪩 @CryptoSetups_]

@OfficialLoganK I am a noob at this stuff, recently I was trying to get the API to use for Gemini. 1 hour later I gave up.
For me to find the API for openai and Claude 2 min
I bet it's user error but if I could do it for the others...

[Andy @andyyy]

Andre absolutely ratio’ing Brian Armstrong?

I’m thinking he’s so back.

Full 2-hour podcast dropping imminently on @therollupco — his first pod in several years 🫡

[CryptoSetups 🪩 @CryptoSetups_]

2nd November inflows and outflows

[David Hoffman @TrustlessState]

Ethereum's future is increasingly pointing towards

- Appchains
- Based Rollups

@Spire_Labs asks: What if every L1 smart contract is also a based-rollup appchain?

The L1 scales like an L2, but everything stays on the L1

Rollups become Ethereum again

[Andy @andyyy]

The endgame is clear:

An ecosystem of interconnected chains, with the gas and cross-chain complexities abstracted away from the end user, with thousands of applications used by millions daily.

Every new user on a rollup, appchain, L2 is a net benefit to Ethereum and crypto as a whole.

[Michael Nadeau | The DeFi Report @JustDeauIt]

No. Adding some context (and data) changes the story regarding flows to Solana from other chains👇

Over the last month, @base is #1 in terms of net flows ($463m). @solana is #2 with $197m of net flows. @SuiNetwork #3 with $120m.

If we zoom out to Year-to-Date, @arbitrum ($2.4b), @optimsimFND ($2.2b), and base ($1.6b) lead all chains.

But the only thing that really matters for Solana is pulling TVL from Ethereum (and the L2s).

Why?

That's where all the value sits today.

Is it happening?

Not really.

Here's the data (via @artemis__xyz)

1. YTD, Solana has lost TVL to Base, OP, and Arbitrum (albeit small numbers, about $55m)

2. Solana has seen $2.36b inflows from Ethereum L1 YTD, with over $1b flowing back to ETH (42%).

*2.7% of Ethereum's TVL went to Solana YTD, modest figures*

3. Ethereum has seen $6b of net outflows YTD, but 83% of it went to L2s (stayed in the ecosystem, where it can continue to drive value to the L1).

In total, 82% of the value that left Ethereum YTD found its way back to the L1.

----

TL;DR: Solana is pulling some TVL from Ethereum, but it's quite modest. 42% of value that went to Solana from Ethereum made its way back to Ethereum this year.

Most of the value that leaves Ethereum makes its way back to the most secure and decentralized L1.

And most of the value that has left has gone to L2s (stayed in the ecosystem).

Data: powered by @artemis__xyz