JC | TownSquare ❏ 🟢

janitor @TownSquarexyz | @monkeDAO @guiinuonaptos | ex-market maker

[JC | TownSquare ❏ 🟢 @realjcz]

I was at @monad_xyz evm/acckerhouse during EthDenver and also the previous two Madness competitions. Can confirm that even tho Monad is home to many unique and amazing native DeFi protocols, there are a lot of innovations being built on Monad its speed and cost-efficiency outside DeFi.

Just as Monad's performant EVM L1 is a mental model shift away from Ethereum EVM, building primitives on top of Monad also requires a mental model shift. Here are 𝟯 𝗣𝗿𝗶𝗺𝗶𝘁𝗶𝘃𝗲𝘀 𝗪𝗼𝗿𝘁𝗵 (𝗥𝗲)𝗯𝘂𝗶𝗹𝗱𝗶𝗻𝗴 𝗼𝗻 𝗠𝗼𝗻𝗮𝗱 𝗟𝗮𝘆𝗲𝗿-𝟭 𝗘𝗩𝗠 (𝗼𝘂𝘁𝘀𝗶𝗱𝗲 𝗗𝗲𝗙𝗶) that are arguably different when they are built on Monad vs Ethereum:

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𝗣𝗿𝗶𝗺𝗶𝘁𝗶𝘃𝗲 𝟬𝟭 - 𝘇𝗲𝗿𝗼-𝗸𝗻𝗼𝘄𝗹𝗲𝗱𝗴𝗲 𝗽𝗿𝗼𝗼𝗳 & 𝗿𝗼𝗹𝗹𝘂𝗽

Zk is an old meta in crypto. zk bridge and zk rollups on Ethereum Layer-1 have to a degree de-excited the market about this vertical. However, building this on Monad offers advantages and user improvements not possible on Ethereum EVM. For a computationally heavy task like zk-proof verification, Monad's throughput and efficiency can bring down the cost and time of verifying zk-proofs. For zero-knowledge use cases such as data verification, zk-rollups, and zk-based interoperability solutions, this means greater security and enhanced user experiences.

On Ethereum, the cost of verifying a zk-proof ranges between 300,000 and 5,000,000 gas, which converts into between a few dollars to a few hundred dollars. If zk bridges or zk-rollups want to ensure the low-cost profile in their validator networks or L2 users, they would need to pace out how often they settle their zk-proof on the Ethereum Layer-1. This increases the time between each settlement of a transaction batch. Furthermore, Ethereum Layer-1's own finality time is 2 epochs (14 minutes), so the minimum finality of a zk-proof verification transaction on Ethereum, discounting the system interval settings, is 14 minutes. zkSync, a zk-rollup Layer-2 on Ethereum for example, could take up to 21 hours to reach finality for a zk-proof verification. because of the long intervals between verifications and Ethereum's own finality time.

On Monad, however, lower cost and fast finality (one block) mean that zk-proof of batched transactions can be verified on Monad Layer-1 with much shorter intervals while achieving faster finality. Theoretically, this could reduce the finality of zk-proof settlement to seconds, which makes the state on the rollup Layer-2 set in stone much faster. This leaves much less time for malicious actors to reverse or invalidate transaction history in an attack. The lower cost profile of implementation zero-knowledge solutions on Monad Layer-1 means that zk-rollups and zk-based interoperability solutions can focus on solving issues beyond performance. In a zk-rollup, this could be bringing Monad's performance to less performant environments; for a zk-bridge, this could be improving the UX of interoperability transactions; for zk-data verifications, this could be lowering system overhead.

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𝗣𝗿𝗶𝗺𝗶𝘁𝗶𝘃𝗲 𝟬𝟮 - 𝗱𝗲𝗰𝗲𝗻𝘁𝗿𝗮𝗹𝗶𝘇𝗲𝗱 𝗔𝗜 𝗶𝗻𝗳𝗲𝗿𝗲𝗻𝗰𝗲 & 𝘁𝗮𝗴𝗴𝗶𝗻𝗴

Although on-chain computation is still expensive and far from a match for the computational resources required for on-chain AI training, areas in model and agent development that require real-time on-chain verification can still benefit from the performance and throughput advantages offered by Monad Layer-1. A swarm network for instance relies on a network of agents that handle domain-specific tasks.

Tracking the performance of these agents in problem-solving directly affects the trustworthiness of the solutions derived from the agent network.

Keeping such performance records in real-time on-chain helps improve the network's inference capabilities. Such record-keeping activities can be cost-prohibitive in an inefficient blockchain ledger, as the cost of keeping performance records grows exponentially with the number of tasks the swarm network handles. Reducing the frequency at which the records are stored on-chain could mitigate costs but risks the effectiveness of the network.

Another intensive AI-related task that requires verifiable record-keeping is data tagging, an upstream component critical for training AI models. An unprocessed dataset often gets tagged by turk workers as many times as possible to describe different aspects of the set. Storing such tags or tag hashes on-chain tamper-proofs the training data for models. In an inefficient blockchain, such activities are cost-prohibitive for the extremely large number of datasets necessary for training an AI model. Monad EVM Layer-1 provides a cost-effective distributed ledger for serving these two use cases. Low cost reduces the overhead of AI inference and training data, providing a viable settlement layer for running inference protocols and data tagging protocols.

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𝗣𝗿𝗶𝗺𝗶𝘁𝗶𝘃𝗲 𝟬𝟯 - 𝗱𝗲𝗰𝗲𝗻𝘁𝗿𝗮𝗹𝗶𝘇𝗲𝗱 𝗱𝗮𝘁𝗮 𝘀𝘁𝗼𝗿𝗮𝗴𝗲

Data storage as a use case for blockchain as a transparent public ledger has been around for years. Protocols such as IPFS, Arweave, and BNB Greenfield either leverage an existing blockchain such as Ethereum for IPFS and BNB Chain for Greenfield, or build their own chain like the case of Arweave, for storing hashes or pointers to the data. IPFS, for example, could use the Ethereum EVM to store hashes of data stored on the protocol for verification and immutability. However, with each file upload requiring a reference existing on-chain, the gas cost for these smart contract actions could be costly at scale. This cost is eventually passed down to the end users in addition to the existing storage cost.

A storage protocol on Monad could benefit from its cost-efficiency and meaningfully serve as a more cost-effective and secure alternative to the existing Web 3 storage solutions.

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PS
By no means am I an expert in all the use cases mentioned above. This post is more for encouraging people to 𝘀𝗵𝗶𝗳𝘁 𝘁𝗵𝗲𝗶𝗿 𝗺𝗲𝗻𝘁𝗮𝗹 𝗺𝗼𝗱𝗲𝗹 - away from the box when EVM L1 protocols are always constrained by Ethereum's scalability problem - to think how things could offer improved user experience when EVM L1 is natively performant and cost-efficient. This is

[JC | TownSquare ❏ 🟢 @realjcz]

@_jhunsaker looks familiar

i think i know what drink to go with it

[JC | TownSquare ❏ 🟢 @realjcz]

@Miles082510 @TownSquarexyz gtown 💜

[JC | TownSquare ❏ 🟢 @realjcz]

@TownSquarexyz gtown 💜

[townsquare ❏ (mainnet arc) @TownSquarexyz]

https://t.co/JsntNJp2er

[JC | TownSquare ❏ 🟢 @realjcz]

@0x_xifeng niubi

[JC | TownSquare ❏ 🟢 @realjcz]

@keoneHD We @townsquarexyz actually enforce a rate impact based withdrawal/deposit limit, where if a certain deposit/withdrawal would move the APR of a pool above a certain threshold, the withdrawal would be limited

[townsquare ❏ (mainnet arc) @TownSquarexyz]

$25,000,000 in total deposit

now on townsquare markets

more to come at: https://t.co/aPYbA5Bc8Q

[JC | TownSquare ❏ 🟢 @realjcz]

@ZhenzhenK @TownSquarexyz Thanks for reaching out

Could you support a ticket in our discord and ping Mayor

Thanks

[JC | TownSquare ❏ 🟢 @realjcz]

Sungmo is an absolute beast in a project's 0-1 lifecycle and enterprise relations

We are super fortunate to have had his early conviction check at @TownSquarexyz

I'm also very much heart-warmed that he's make giant steps such as this in his career and see him along the journey

[sungmo @sungmo_apac16z]

I'm honored to share that I will be joining @a16zcrypto as Head of APAC go-to-market.

a16z crypto backs exceptional founders, providing not just capital but also hands-on support to help them grow into transformative companies.

Now, a16z crypto is opening an office in Seoul and extending go-to-market support for its portfolio companies to encompass the Asia-Pacific region — one of the fastest-growing hubs for crypto innovation, deep talent, and bold founders. APAC is already shaping the future of web3, and I believe its impact will only grow from here.

Through the network, experience, and relationships I’ve built over the years in this industry, I’ll help a16z crypto’s founders access not just a new market, but the regional context and knowledge they need to scale (and vice versa).

I want to express my deep gratitude to @cdixon and @AAlbaneseNY for putting their trust in me, and I look forward to being a part of the incredible GTM team — @meigga, @lordvolth, and @cc_crowley.

If you’re building in crypto, web3, or any other frontier tech and interested in APAC — I’d love to connect.

[intern @intern]

monad TVL showing no signs of slowing down

[WLFI @worldlibertyfi]

Backed 1:1 by assets held in reserve by BitGo, primarily in U.S. government money market funds and other cash equivalents, and designed to meet institutional standards for security and reliability. On Monad, USD1 is available across key applications including @TownSquarexyz and @Pancakeswap, with more to come, bringing a trusted digital dollar option to internet capital markets.

[townsquare ❏ (mainnet arc) @TownSquarexyz]

TownSquare 🤜🤛 World Liberty Financial

[JC | TownSquare ❏ 🟢 @realjcz]

@AllUnderCTRL3 Hey @AllUnderCTRL3. We are trying to reproduce this issue

Collateral withdrawal buttons should be on the loan tab as in this screenshot. Please ping our team members in your ticket

Our app is audited and pen-tested by multiple auditors. Rest assured your funds are safe

[王短鸟 (长鸟版) @Wangduanniao]

币安为什么突然全力推USD1？
真相只有一句话：
它急需一个“自己能掌控流动性、全球合规、但又不是自己发”的新稳定币，取代被SEC干掉的BUSD。

BUSD已死，币安不能再自己发币，最优解来了——
USD1，由BitGo发行，合规压力全甩给别人，币安只管“用”。

币安连出3招，把USD1直接立为“币安内部美元操作系统”：
1. 所有BUSD自动1:1换成USD1
2. 核心交易对全换USD1（BTC/USD1、ETH/USD1、SOL/USD1…）
3. USD1交易对0手续费

结果很残暴：
做市商、机构、机器人只会选0费的USD1
流动性雪崩式迁移
USD1几天内就会成为币安生态的实际“内部货币”

交易所最强护城河从来不是BTC，不是手续费，
而是：用户资金在里面循环的“货币单位”。

BUSD时代结束了，
USD1时代，刚刚开始。

#USD1 #Binance #稳定币战争

[JC | TownSquare ❏ 🟢 @realjcz]

@1stBenjaNAD > $USD1

[JC | TownSquare ❏ 🟢 @realjcz]

@sungmo_apac16z @a16zcrypto Truly deserved Sungmo!

[JC | TownSquare ❏ 🟢 @realjcz]

BREAKING: USD1 is breaking out in CEX distribution with USD1-denominated trading pairs directly on tier-1 exchanges.

[Dylan_0x @0xDylan_]

1. Binance Spot has launched the BNB/USD1, BTC/USD1, ETH/USD1, and SOL/USD1 trading pairs, and trading bot services are now available.
2. Starting from December 11 at 16:00 (UTC+8), the BNB/USD1, BTC/USD1, ETH/USD1, and SOL/USD1 spot trading pairs will offer zero trading fees for VIP levels 2–9 and spot liquidity providers.
3. Starting from December 11 at 16:00 (UTC+8), zero trading fees will apply to the USD1/USDT and USD1/USDC spot trading pairs for all users.
4. The backing assets of Binance-Peg BUSD (B-Token) will be converted to USD1 at a 1:1 ratio. The conversion is expected to be completed within one week after the announcement is published.
5. Binance Futures will support USD1 as a unified margin asset starting from December 11 at 17:00 (UTC+8).

#USD1

[JC | TownSquare ❏ 🟢 @realjcz]

@_jhunsaker sometimes market participants get drunk

[JC | TownSquare ❏ 🟢 @realjcz]

We pushed a major update to the display of rewards UI on the app earlier today.

Now the incentives and points display are laid out in a new UI structure:

- Points boost is now showing where the boost multiplier is coming from
e.g. 2x from TownSquare & 4x from Upshift for $earnAUSD

- Supply & borrow APRs are showing liquid APYs and points APYs in separate percentages to help you better understand reward distributions
e.g. 30.49% + 148.43% for MON means the the base+liquid incentive APY is 30.49%, and the 148.43% means the points APY from TownSquare/partner points program.

Note: the liquid MON incentive is still pending Merkl integration and will be distributed via Merkl by end of Month 1. The liquid APY includes MON token incentives.

- LSTs (shMON, sMON, gMON, aprMON) are displayed on the Earn page for better accessibility into the LST collateralization page. LST point boost can also be seen on the Earn page.

[JC | TownSquare ❏ 🟢 @realjcz]

There have been so many. Just to name a couple that we got most Qs about:

-> TownSquare’s unique multi-collateral loan structure is new to many users. Some users have told us the way to loop yield isn’t very obvious there. So we added guidance content to each of the asset support announcement we make and are bringing some UX changes to highlight the loan page user flow.

-> TownSquare’s incentive program offers very competitive APYs for assets. Users have also asked us about those APY numbers so we have created a detailed doc on those numbers to be released later this week

There are also feedback from partner protocol teams. Overall, the sentiment we got from users is very strong and supportive. A lot of our features and metrics are unique to our protocol so definitely as we provide further clarity on those items users will be able to enjoy the benefit of Monad’s tech and @TownSquarexyz ‘s yield opportunities with even less friction.