TEDAO

TEDAO is a Web3 community dedicated to the research, design & implementation of cryptoeconomic systems. Join us to explore token engineering best practices.

[TEDAO @telabofficial]

Congrats!!!

[ivangbi 🦞 @ivangbi_]

TLDR: I joined @ethereumfndn as DeFi Coordinator

1] I got introduced to DeFi back in 2019 and stuck to it ever since. As narratives appeared and faded away, my general belief in DeFi stayed. I think today, more than ever, Ethereum is the right place to grow DeFi further. I'd like to help make this vision a reality 🙏

[ivangbi 🦞 @ivangbi_]

TLDR: I joined @ethereumfndn as DeFi Coordinator

1] I got introduced to DeFi back in 2019 and stuck to it ever since. As narratives appeared and faded away, my general belief in DeFi stayed. I think today, more than ever, Ethereum is the right place to grow DeFi further. I'd like to help make this vision a reality 🙏

[Eddy Lazzarin ☀️ @eddylazzarin]

If the DAO agrees, Uniswap will finally become a "closed loop" network token: fees paid to the decentralized protocol will be captured by the token through a buyback and burn.

And if the DAO decides, new tokens can be minted to help pay for protocol growth.

A lot of legal work went into making this possible — the DUNI and a lot of research.

https://t.co/MiwDoTqy07

If you'd like to learn more about network tokens, check out this overview:

https://t.co/UxFVjSgToQ

[brucexu.eth @brucexu_eth]

终于开始啦！三十多所高校报名，有的甚至学校教授直接找过来希望我们去做以太坊交流！欢迎大家帮忙转发扩散，在线下举办的时候带上同学朋友一起来交流学习！内容就是纯粹的以太坊基础、密码朋克、技术 Workshop、高阶程序员现场 Debug、行业和就业交流，纯干货，部分场次会有 EF 成员线下参加交流🫡

[Workhorse @0xWorkhorse]

----------------------------------------------
DEVELOPING STORY: BALANCER EXPLOIT
----------------------------------------------

@Balancer, a major DeFi liquidity protocol on Ethereum with over $750M in TVL, appears to have suffered an exploit today.

Around $70.6M in assets were transferred from its Vault to a new wallet.

This includes:
6,587 WETH (~$24.5M)
6,851 osETH (~$26.9M)
4,260 wstETH (~$19.3M)

Transaction: https://t.co/FGA8NhLn8H

--------------------------------
How Did the Exploit Happen?
--------------------------------

Details are still emerging, but on-chain data shows funds moved from the Balancer Vault:

(0xBA12222222228d8Ba445958a75a0704d566BF2C8)

to a fresh address
(0xAa760D53f5D1bA1FBE5678c34675b8E3F1cDe1A1).

It targeted V2 pools specifically -- ETH-related ones.

V3 pools are reportedly safe.

No official root cause yet, but Balancer team is investigating. It looks like it could involve a smart contract vulnerability or compromised admin keys.

--------------------
Ecosystem Impact
--------------------

1⃣ $BAL token dropped ~5% immediately after news broke.

2⃣ Protocols like @Aave, which rely on Balancer for liquidity, could face disruptions if confirmed. Some vaults (e.g., Yuzu) have already withdrawn funds as precaution.

3⃣ Forks like Beethoven X (Beets) and others may also be vulnerable.

-----------------------
What Should You Do?
-----------------------

1⃣ If you have liquidity in Balancer V2 pools, withdraw them immediately, especially ETH/stETH-related.

2⃣ Check connected protocols (like Aave or forks like Beets).

3⃣ Follow @Balancer for updates -- they haven't tweeted since Oct 30, but mods confirmed V2 impact in their official Discord/X.

4⃣ Use tools like https://t.co/wMpQhUFl5j to check and remove approvals.

-----------
UPDATES
-----------

I'll keep posting as I learn confirmed news.

[TEDAO @telabofficial]

这就是为什么全球最大的些机构都在以太坊上进行代币化、稳定币、DeFi等

✅可靠性

✅安全性

✅流动性

[David Walsh @davwals]

Launching https://t.co/hqQNlNrg0c today ⟠

When institutions evaluate blockchains, three things matter:
→ Reliability
→ Liquidity
→ Security

Ethereum doesn't just meet the bar across these three categories. It sets it.

That's why the world's largest institutions choose Ethereum for tokenization, stablecoins, DeFi and more.

This site tracks that momentum in real time. A public good for the entire ecosystem👇

https://t.co/FgzM9V2rNy

[ETHTAO @Ethtao_Ethtao]

以太坊基金会 Eco Dev Cordinator @snapcrackle 分享了最新的基金会人员架构，新增了 Privacy 团队架构。

[Polymark.et @PolymarketEco]

Prediction markets are exploding, and the ecosystem around it is wild.

I spent weeks mapping the complete Polymarket ecosystem landscape - 116 projects across 14 categories.

What did I miss? Drop your favorites below 👇

[Joseph Young @iamjosephyoung]

this week in the world of ethereum:

- eth surpassed btc in inflows in Q3
- eth overtook btc in ETF inflows for the first time
- big progress on parallel validation (EIP 7928)
- eth whales continue to accumulate on-chain data show
- sharplink acquires 19,271 eth
- bitmine accumulates $140 MILLION in eth
- eth stablecoin issuance hits $169.4 BILLION
- jpmorgan accepts eth as collateral
- active loans on eth hits $9 billion
- quantum solutions accumulate 2365 ETH

all of this in just 1 week. believe in somETHing.

[fabda.eth @fabdarice]

📊 ETH ETFs bought $177M to start the week marking 6 days in a row of positive inflows.

And staking ETFs is right around the corner.

[TEDAO @telabofficial]

@cryptoinnovr 经典

[CryptoVictoria @cryptoinnovr]

华语币圈经典 2010–2024 #BTC再创新高
1500页，记录了14年币圈的起落与疯狂。

如果十年前你看到它，可能早已财富自由；
现在看到它，能让你真正理解行业的演进逻辑。

从山寨币到 #DeFi，从 #NFT 到 #AI，从牛到熊，
这本书，就是一部币圈的“人类简史”。

📩 点赞 + 转发 + 关注
评论区/私信我关键词【经典】，私发PDF链接。
—— 币圈沉浮，谁与争锋
感谢明星哥支持
#Crypto #Web3 #BTC #ETH #DeFi #AI

[EthereanVibin | 0xVibin.eth @EthereanVibin]

Peter Thiel sees Ethereum as a step function improvement from existing financial architecture and he’s sizing accordingly

$ETH is King. The world is its Kingdom

[0xjereme @0xjereyme]

90k $AAVE bought back is a solid milestone.

A simple test for buybacks:

1⃣Size: ~$1M/wk since Apr 9 (pilot for the first 6 months; then sized by budget with quarterly reporting).

2⃣Rhythm: programmatic buys > one‑offs. An on‑chain TWAMM pilot was proposed to keep buys steady & time‑weighted.

3⃣Source: funded by protocol revenue/treasury (Collector) via allowances; no new token issuance.

4⃣Net: emissions were reduced with Umbrella (e.g., stkAAVE rewards cut from 360 → 315 AAVE/day on Jun 5).

5⃣⭐️Progress: ~70k by Aug 4 → 90k now (Sep 22).

[Chao @chaowxyz]

无意中看到了David Ronfeldt发表于29年前的论文《部落、制度、市场、网络：一种社会演进框架》，在我看来这套框架用来评估加密项目演进很合适。

理论核心非常简洁，他认为人类社会的组织和进步，可以看作是四种基本“模块”不断叠加和组合的过程。这四种模块分别是：

部落 (Tribes)：这是最古老的形式，基于血缘和亲情。就像一个大家庭，它的核心是提供归属感和身份认同。

制度 (Institutions)：随着社会变大，我们需要秩序和管理。于是，等级分明的“制度”出现了，比如政府、军队、教会。它的核心是权力和自上而下的命令。

市场 (Markets)：当“制度”无法高效地处理复杂的商品交换时，“市场”便应运而生。它基于自由竞争，追求效率和财富，让每个人为自己的利益而努力。

网络 (Networks)：这是朗费尔特在29年前最大胆的预言。他认为，随着信息技术的发展，一种全新的组织形式将会崛起。它既不像家庭那样靠血缘，也不像政府那样靠命令，更不像市场那样靠竞争，而是依靠自发协同合作。它的成员是分散的、平等的，为了共同的价值观/目标连接在一起。

29年后回头看，第四层网络的设想成功的预言了公民社会、共享经济、开源运动、DAO等一系列新事物。

这套理论用于评估一个项目，尤其是加密项目的演进也非常强大。以以太坊举例：

1. 部落 (Tribe) 健康度：社区的向心力如何？
核心信仰： 项目是否有超越金钱的“故事”或“使命”？（以太坊有“世界计算机”、“去中心化未来”的宏大叙事）

身份认同： 社区成员是否有强烈的归属感和自豪感？是否存在独特的文化、梗和行话？（以太坊社区的开发者文化、Etherean身份认同非常强）

外部边界： 是否有一个清晰的“我们 vs. 他们”的参照物来巩固内部团结？（以太坊社区 vs. “ETH杀手们”、vs. 比特币至上主义者）

诊断结论： 以太坊的“部落”基础极其雄厚，这是它历经多次危机而屹立不倒的情感和共识基础。一个没有强大部落属性的项目，用户只是逐利的“散户”，而非忠诚的“族人”。

2. 制度 (Institution) 健康度：项目的执行力如何？
决策机制： 如何做出重要决策？是否有清晰的流程？（以太坊有核心开发者会议、EIP（以太坊改进提案）流程，这是一个虽慢但相对稳健的决策制度）

权威与资源： 是否有公认的权威实体来协调资源和引导方向？（以太坊基金会扮演了这个角色，资助研究、组织Devcon大会，但做的不够好）

规则与治理： 社区是否有明确的规则来解决冲突和分配利益？（围绕协议的升级、分叉等，都有一套不成文或成文的治理规则）

诊断结论： 以太坊的“制度”层在不断进化，从早期的基金会主导，到如今更加多中心化的治理。它的制度确保了项目能够有序地进行复杂的技术升级（如“The Merge”从PoW转向PoS）。尽管以太坊基金会被广泛诟病，但总的来说制度基本盘是稳固的。

3. 市场 (Market) 健康度：生态的吸引力如何？
价值捕获： 项目的代币（ETH）是否有真实的经济用途和价值支撑？（ETH作为Gas费、DeFi抵押品、价值储存等，用途广泛）

经济激励： 项目是否设计了有效的激励机制来吸引参与者（开发者、用户、验证者）？（交易费、区块奖励、Staking收益等）

生态系统： 项目之上是否自发地生长出了一个繁荣的经济生态？（DeFi、NFT、L2等，共同构成了庞大的以太坊经济体）

诊断结论： 以太坊的“市场”层是其最强大的外部吸引力来源。一个没有健康市场层的项目，其代币将无人问津，生态也无法成长。

4. 网络 (Network) 健康度：项目的发展生命力如何？
技术网络： 底层技术网络是否足够去中心化、安全和活跃？（以太坊拥有数千个节点和验证者，网络非常稳健）

社交网络： 项目在Twitter、Discord等社交媒体上是否形成了高密度、高活性的信息与协作网络？（以太坊的全球开发者社区和用户社区规模巨大，信息流动极快）

创新能力： 网络中是否在持续涌现新的想法、新的应用和新的人才？（Layer2、账户抽象等创新层出不穷）

诊断结论： 以太坊的“网络”层是其生命力的体现，确保了信息的流动、创新的涌现和生态的扩张。一个网络僵化的项目，等于失去了成长的能力。

通过这四个维度的“体检”可以得出一个结论：以太坊之所以成功，是因为它在这四个维度上都相对健康且均衡。

反之可以用这个框架解释为什么很多项目会失败：

失败案例A： 只有强大的市场炒作（强M），但部落文化（弱T）和制度建设（弱I）一片空白，最终沦为“土狗”项目。
失败案例B： 有一群狂热的信徒（强T），但决策混乱，内斗不断（弱I），技术网络停滞不前（弱N），最终“有心无力”。

所以这个框架不仅能解释“社会”，更能清晰地透视出任何一个复杂人类协作系统的内部结构、优势与风险。它帮助我们从“炒作”和“技术参数”的迷雾中跳出来，从组织生命力的角度去审视一个项目的真正价值。

[Defi Jonaso ❖ @Jonasoeth]

Sonic x Pendle: Delta-Neutral Farming Up to 65% APY

@SonicLabs hosts a series of stablecoin markets powered by trusted protocols in @pendle_fi

This model combines Sonic's stablecoin vaults with Pendle’s yield tokenization system to offer users high-yield, low-risk strategies

The approach allows for delta-neutral farming, meaning investors can earn yield without being exposed to market price volatility

Sonic provides stablecoin assets like smsUSD, msUSD, and various USDC vaults from partners such as @Main_St_Finance, @SiloFinance, @Trevee_xyz, and @246_club

These assets offer different levels of base yield ↓

➥ PT fixed yield up to 21.32% with smsUSD
➥ LP yield up to 66.57% APY with msUSD LP

[Eli5DeFi @Eli5defi]

➥ Why Ethena Could Become DeFi's Settlement Layer

When your stablecoin relies on centralized banks, it can't truly be considered "decentralized."

That's why @ethena USDe is different.

USDe is built as a crypto-native, yield-bearing synthetic dollar designed to scale without relying on traditional banking infrastructure.

Today, we'll discuss $USDe and explore the expansive Ethena ecosystem.

Let's dive in 🧵

...

➠ How Ethena's $USDe works

At the core of PayBuddy is $USDe, a synthetic dollar built on crypto rails, consisting of the following main tokens:

➢ USDe: A stable synthetic dollar.
➢ $sUSDe: A liquid, yield-bearing, staked version of USDe.
➢ $ENA & $sENA: Native governance tokens of PayBuddy.

Here’s how it works, step by step:

➤ Collateral: Users deposit staked $ETH (like stETH).
➤ Hedge: Ethena opens an equal short position in $ETH perpetual futures.

➢ If the ETH price goes up, the short loses.
➢ If the ETH price goes down, the short wins.
➢ Net effect → ETH price risk is hedged.

➤ Yield:
➢ The staked ETH keeps earning staking rewards.
➢ The perp hedge earns (or pays)from funding rates.

Unlike $USDC/ $USDT, which depend on banks and treasuries, $USDe is fully crypto-native, built onchain, scalable, and independent of traditional finance.

...

➠ Ethena Ecosystem

Ethena already expand its $USDe integration to 50+ protocols:

➤ CEX
@binance
@bitgetglobal
@BithumbOfficial
@Bybit_Official
@coinbase
@CoinList
@DeribitOfficial
@Gate
@Gemini
@HTX_Global
@krakenfx
@kucoincom
@MEXC_Official
@wallet
@upbitglobal

➤ Money Markets
@aave
@ajnafi
@Contango_xyz
@eulerfinance
@evaaprotocol
@GearboxProtocol
@InitCapital_
@Juice_Finance
@KaminoFinance
@lendlexyz
@MorphoLabs
@NotionalFinance
@Orbiter_Finance
@origami_fi
@ParticleNtwrk
@sparkdotfi
@VenusProtocol

➤ DEXs
@Balancer
@CamelotDEX
@CurveFinance
@dedust_io
@derivexyz
@DriftProtocol
@infinex
@MerchantMoe_xyz
@orca_so
@RaydiumProtocol
@StargateFinance
@ston_fi
@synthetix
@Uniswap

(Cont'd...)

[TEDAO @telabofficial]

4⃣下一步？
Lai Yuen 认为，Boros 最大的价值在于“让主流的收益资产在任何资金费率环境下都能平滑回报”，下一步就是扩大可用持仓规模（OI），从而赚更多交易费并提升整体流动性。

[TEDAO @telabofficial]

Pendle最新推出的“Boros”产品，为何能在不利的永续合约资金费率环境下，仍然为用户锁定正收益。以下是详细分解➡️

[Lai Yuen (Former .eth) @0xlaiyuen]

The new $PENDLE Boros is a really interesting product that I think markets are still struggling to understand its significance.

E.g.: Over the weekend, BTC was being aggressively shorted with a -3% funding rate. You think a short squeeze will happen and longed $BTC - you would have lost money due to spot selling that brought down prices and brought up the funding rate.

If you decided to go long the YU on Pendle Boros instead, you would have been paying -3% and receiving 10% apy while getting capital appreciation in BTC terms.

This is a big unlock for large yield-bearing stables to smooth out earnings even when funding rates are negative. The next steps for this product will likely be increasing the OI available to get more trading fees.

[TEDAO @telabofficial]

✅附图里的多条曲线（BTC 价格、持仓量 OI、清算额、资金费率、成交量差分）正是从 8 月 1 日到 6 日的数据：你看到了资金费率一度跌到负值、清算量暴增，但 YU 组合却能靠分离出的利息部分抵消这波变动。