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Haotian | CryptoInsight
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独立研究员| Researcher | 以技术和商业视角解读区块链前沿科技 | ZK、AI Agent、DePIN ,etc | 硬核科普 | Previously:@ambergroup_io | @peckshield | DMs for Collab | 社群只对Substack订阅会员开放
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Haotian | CryptoInsight
B3's investment in Andromeda Insights and the launch of B3PC marks a significant strategic leap from a pure software gaming platform to an integrated software and hardware ecosystem. Previously, when analyzing the @b3dotfun business model, it was mentioned that B3 aims to solve the "island isolation" problem of gaming platforms. Now, B3's solution appears clearer: not only to achieve interoperability between games through GameChains at the software level, but also to provide native Web3 gaming experiences for "serious gamers" at the hardware level. This "having it both ways" approach is indeed very Coinbase-style - direct, pragmatic, and bold in betting on future tracks. What are the benefits? 1) At the experience level, it solves the current disconnection between hardware devices and on-chain needs in Web3 games, manifested in players constantly switching between high-performance gaming experiences and Web3 functions, creating a strong sense of fragmentation. B3PC's built-in hardware wallet, military-grade encryption, and self-destruct drive essentially integrate Web3 gaming needs previously scattered across different devices and software at the physical level. 2) In terms of business revenue, it builds a complete value chain from hardware sales to game ecosystem. B3 can acquire users through hardware and then retain and monetize through GameChains, creating stronger user stickiness and higher LTV. Hardware sales alone can directly bring in millions of dollars in annual revenue for B3. However, hardware business's capital occupation, supply chain management, and channel deployment are not the strengths of Web3 native teams. Andromeda Insights' experience in the gaming PC field happens to complement this. Looking at a macro level, mining machines went through a specialization process from CPU to GPU to ASIC in earlier years. In my view, the emergence of B3PC will also be an important trend in the Web3 Gaming track: transitioning from dependence on traditional hardware ecosystems to large-scale application of dedicated gaming hardware.
B3
@b3dotfun
06-17
B3 has made a strategic investment into Andromeda Insights, one of the fastest-growing custom PC companies in gaming. together, we’re launching the B3PC. a first of its kind machine, with power for serious gamers and security never before seen. 🧨 self-destruct drive 🔒
B3
5.01%
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Haotian | CryptoInsight
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Here's the translation: Many people view @VitalikButerin's emphasis on ETH as a "world ledger" as a completely new strategic adjustment, but in fact, this transformation was completed the moment EIP-1559 went online. The 50% exclusive share of stablecoins on ETH only reinforces its positioning as a financial settlement layer. Let me explain in detail: 1) The core of EIP-1559 is not about reducing gas fees, but redefining the value capture mechanism of the ETH mainnet, establishing a new model where ETH no longer captures value through increased transaction gas consumption. Previously, all transactions (DeFi, Non-Fungible Token, GameFi, etc.) were crowded on the mainnet, causing significant ETH gas consumption, with nearly thousands of ETH burned daily in 2021. At that time, the ETH mainnet was congested, and Layer 2 had to join the gas war when submitting batch data for verification on the mainnet, with high and unpredictable costs. But EIP-1559 changed the game rules: After introducing a predictable base fee mechanism, the batch submission cost for Layer 2 on the mainnet became stable and controllable. This directly lowered the operational threshold for Layer 2, allowing more Layer 2 to rely solely on ETH for final settlement. On the surface, EIP-1559 facilitated Layer 2, but actually deeply transformed ETH's value capture logic: from a "consumption-based growth" dependent on high-frequency mainnet transactions to a "tax-based growth" dependent on Layer 2 settlement needs. 2) According to defillama data, the global stablecoin total market value currently exceeds $250 billion, with ETH occupying a 50% share, which has not decreased but increased after EIP-1559's launch. Why can ETH attract such capital? The answer is simple: an irreplaceable security premium. Specifically, USDT has $62.99 billion deposited on ETH, USDC has $38.15 billion. In comparison, Solana has only $10.7 billion in stablecoins, and BNB Chain has $10.4 billion, which together don't even match a fraction of ETH's amount. 3) When ETmainnet focuses focus on being a "central bank" level settlement layer, the strategic positioning of the entire ETH ecosystem becomes clear: Base, Arbitrum, Optimism handle high-frequency transactions, while the ETH mainnet focuses on final settlement, with clear and efficient division of labor. Each settlement from Layer 2 back to the mainnet continues to burn ETH, making thisdeflation flywheel spin faster. [The rest of the text continues follows the same translation principles]
ETH
6.46%
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Haotian | CryptoInsight
Here's the translation: Arthur's long article clearly outlines the past and present of stablecoins - Amazon and Walmart exploring stablecoins, Visa's stock price falling, and the entire stablecoin track is on fire. But what surprised me is that despite the hot signs of stablecoin Summer, the entire Crypto circle seems cold, with funds even flowing out to speculate on concept stocks in the US market. Why? - Why is the Crypto Native narrative "indifferent" to the stablecoin boom? 1) This is interesting. Recall when Trump issued a coin, everyone was excited about the potential spillover effect of a presidential coin. So why is the Crypto circle "confused" when a stablecoin with Mass Adoption potential arrives? In fact, Arthur provided the answer: "Without distribution channels, there's no stablecoin business". The core of the stablecoin business model is distribution channels, and the three viable channels Arthur summarized are crypto exchanges, Web2 giants, and traditional banks. This seems barely related to most Crypto industry build directions? Look, Tether's success isn't due to superior technology, but because it seized essential needs and channels. Even Circle, with more standardized technology, has to share 50% interest income with Coinbase to obtain distribution channels. From this perspective, projects trying to challenge USDT with "better technology" are basically daydreaming. For retail investors, it's easier to understand - stablecoins are too "boring", lacking the 10x or 100x get-rich-quick imagination space, so the Crypto circle naturally feels indifferent. - Web2 Giants are the Real "Disruptors" 2) Arthur's judgment on traditional banks is sharp - "basically hopeless". The 7x24 borderless USD system vs. banks' redundant personnel and bureaucratic processes are not even on the same competitive level. Banks' decline has actually created huge survival space for stablecoins. The real disruptive potential lies with Web2 giants like Meta, X, and Google, because they come with user bases and payment scenarios. When Amazon and Walmart start exploring stablecoins, this isn't just simple business expansion, but directly "feeding" billions of mainstream users into Crypto infrastructure. In my view, this is the true value of stablecoin Summer - not providing short-term get-rich opportunities for the Crypto circle, but quietly infiltrating the mainstream world with Crypto infrastructure. When billions of Web2 users start using stablecoins daily, the infrastructure needs for DeFi, DeAI, GameFi, and other tracks will correspondingly strengthen - a long-term growth buff that's imperceptible in the short term but cannot be ignored. - The "Subtle Influence" Behind the IPO Wave 3) Of course, even a seemingly cold Summer will have speculation. Arthur's reminder is spot on: Circle's IPO is just the first shot, with many "imitators" to follow. Most of these projects lack real distribution capabilities, but under the stablecoin narrative, their market dream rate will be exaggerated. But returning to Arthur's core judgment - projects without distribution channels are basically hopeless. Critically, this Summer expectation might have nothing to do with most retail investors - just watch the show. However, from another perspective, this IPO wave is essentially "popularizing" crypto value to Wall Street. When traditional investors start seriously studying stablecoin business models, this "subtle influence" is what's most worth contemplating. In my view, stablecoin Summer is the turning point where Crypto transforms from a "marginal innovation experimental field" to a "mainstream commercial alternative". Currently, the Crypto circle's lack of heat is normal because the game rules have changed, and the protagonists are no longer them. But in the long term, when crypto infrastructure carries more real-world needs, every crypto native will benefit from this infrastructure upgrade.
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Haotian | CryptoInsight
In fact, at the critical point where stablecoins are booming and Crypto Native is facing challenges in delivery and utility, BTC expansion infrastructure has become a severely underestimated value trap. There is an unavoidable premise here: 1. Under the background of spot ETF approval, institutional-level funds can be injected into the main ecosystem, currently meeting the conditions are BTC and ETH. 2. After institutional fund inflows, there will be a demand for value reserve assets, and also a demand for interest-bearing and Staking (pending SEC's clear regulations). This means that a part of the value infrastructure on ETH and BTC public chains will be directly benefited. The Ethereum side is already a red ocean of internal competition, with Lido, Eigenlayer, various DeFi, and reStaking protocols competing intensely, while the BTC side is still a "virgin land". Although the impression is that BTC Layer 2 has been overhyped and is near decline, looking at the direct custody and interest-bearing needs of BTC, the current solutions are either centralized custody that just goes through the motions or technical architectures that fundamentally cannot meet the security requirements of institutional funds. @GOATRollup is a hardcore technical project worth noting in this context. Through BitVM2+zkVM technology stack, it achieves true Native cross-chain security, and through decentralized Sequencer and $BTC, $GOAT Staking model, it creates a sustainable interest-bearing economic model. For traditional finance seeking controllable risks and transparent returns, this is a tailor-made "solution". In fact, when massive institutional funds are about to pour in through the ETF channel, positioning in advance during the current chaotic stage of BTC infrastructure, where standards are not yet set, is an opportunity. Because once the regulatory path is clear and funds are in place, the explosive potential of such scarce value infrastructure is almost inevitable.
BTC
0.95%
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Haotian | CryptoInsight
06-18
Another project has emerged under the banner of no-code development, even claiming to enable people to "talk and create dApps"? The concept sounds particularly cool. Although no-code development has been a long-discussed topic, @infinityg_ai has raised $2 million in funding from institutions like Frachtis Ventures, MARBLEX, MH Ventures, Kucoin Ventures, and Animoca Brands. So, what's special about their technical solution? —— Product Hands-on Experience Sharing (as shown in the image) To be honest, I was initially skeptical about this "talk and create dApps" concept. But with a try-it-out attitude, I tested a relatively complex requirement using their Agentic IDE - building an AI Agent project analysis Dashboard. The result was surprisingly good. AI basically understood the research logic and data structure, and generated an application with modules including financing trend charts and market sentiment analysis. Although details still need adjustment, the overall framework is indeed usable. —— Rigid Demand for AI Agent No-Code Development Originally, developing a decent AI Agent required developers to master at least 7-8 technical stacks, including LLM interface calls, smart contract development, front-end frameworks, wallet integration, and multi-chain deployment. Crucially, these technologies are rapidly evolving, with extremely high learning costs. This has led to a clear supply-demand mismatch in the AI Agent market: Creative content creators and designers have numerous ideas but are stuck on technical implementation; programmers with technical capabilities can develop but often lack deep understanding of user scenarios. This gap directly limits the diversity and innovation speed of AI Agent applications. This is why "lowering development barriers" has always been the most basic service in the AI Agent track, and Infinity Ground is targeting this core pain point. —— Technical Innovation Combination Based on EVM Infinity Ground is currently primarily built on the EVM ecosystem, focusing deeply on BNB Chain, with plans to expand to full-chain support. Its core innovation lies in the design approach of Agentic IDE combined with RAG technology, which is not simply template splicing. When a user says "create a DeFi lending protocol", the system automatically retrieves the core logic from successful cases like Compound and Aave, understanding complex business scenarios such as collateral mechanisms, interest rate models, and liquidation rules, then generating smart contract code that follows best practices. This Creator Copilot combined with RAG Engine is more than just technical stacking; it's a development mode revolution. Traditional development requires programmers to first understand requirements, then convert them to code, and finally deploy and test - a lengthy chain prone to errors. Infinity Ground attempts to let users directly dialogue with AI, describing ideas to obtain runnable applications. If this interaction mode truly matures, it will significantly improve development efficiency. From existing cases, projects like Love Terminal and Jump Jennie have indeed successfully run on the platform, indicating the technical framework's initial feasibility. —— Multi-Chain and Collaborative Ecosystem Strategy Notably, Infinity Ground has a deep collaboration with Four.meme. As a renowned meme culture platform, its community influence and user base provide Infinity Ground with an important market promotion channel. Through this collaboration, ordinary users can more easily create meme-themed AI Agent applications. Additionally, the platform has conducted deep collaborations with different chains like Base and BNB Chain. BNB Chain serves as the primary focus, providing a low-cost, high-efficiency application environment. As an MVB eighth-season accelerator project, it not only receives official resource support but can also directly connect with BSC ecosystem's vast user group. In ecosystem collaboration, Infinity Ground maintains a good market and ecosystem cooperation relationship with @myshell_ai, jointly promoting the popularization and application of AI Agent development tools. No-code development has already had successful precedents in Web2, with Webflow enabling designers to directly "draw" websites and Figma making team collaboration as simple as building blocks. These platforms prove that lowering technical barriers can unleash enormous creativity. While the Web3 environment is more complex, the fundamental logic is consistent: enabling more people to participate in creation. Especially when most launchpads are focused on asset issuance narratives, it's time to shift from "issuing tokens" to "creating applications". Just like in the early Non-Fungible Token market, platform providers only managed issuance tools, but real artistic creation still depended on a few professional teams. The AI Agent track follows a similar logic. By lowering development barriers and allowing ordinary creators to "produce" AI Agent applications, we can usher in a massive UGC content creation explosion phase for AI Agents.
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Haotian | CryptoInsight
06-17
Data Annotation, This "Tough and Exhausting" Work, Quietly Becoming a Hot Commodity? This @OpenledgerHQ, led by Polychain and receiving over $11.2 million in funding, uses a unique PoA+infini-gram mechanism, targeting the long-ignored pain point of "data value distribution". Let's popularize this from a technical perspective: 1) Honestly, the biggest "original sin" of the current AI industry is the unfair distribution of data value. What OpenLedger's PoA (Proof of Attribution) wants to do is establish a "copyright tracking system" for data contributions. Specifically: Data contributors upload content to domain-specific DataNets, where each data point is permanently recorded along with contributor metadata and content hash. When models are trained on these datasets, the attribution process occurs during the inference stage, which is the moment the model generates output. PoA tracks which data points influenced the output by analyzing matching scope or impact scores, determining the proportional influence of each contributor's data. When the model generates revenue through inference, PoA ensures profits are accurately distributed according to each contributor's influence—creating a transparent, fair, and on-chain reward mechanism. In other words, PoA resolves the fundamental contradiction of data economics. The past logic was simple and brutal—AI companies freely obtain massive data, then earn huge profits by commercializing models, while data contributors get nothing. But PoA achieves "data privatization" through technical means, enabling each data point to generate clear economic value. I believe that once this mechanism from "free riding" to "distribution based on contribution" runs smoothly, the incentive logic of data contribution will completely change. Moreover, PoA adopts a layered strategy to solve attribution problems for models of different scales: For small models with millions of parameters, influence can be estimated by analyzing model impact functions, with computational costs still barely manageable. However, for medium and large parameter models, this method becomes computationally impractical and inefficient. At this point, the Infini-gram killer move must be deployed. 2) Here comes the question: What is infini-gram technology? The problem it aims to solve sounds quite extreme: precisely tracking the data source for each output Token in medium and large parameter black-box models. Traditional attribution methods mainly rely on analyzing model impact functions, but they essentially fail before large models. The reason is simple: As models grow larger, internal calculations become more complex, and analysis costs grow exponentially, becoming computationally impractical and inefficient. This is completely unrealistic in commercial applications. Infini-gram takes a completely different approach: Since the model's internal structure is too complex, it directly finds matches in the original data. It builds indexes based on suffix arrays, using dynamically selected longest matching suffixes instead of traditional fixed-window n-grams. Simply put, when the model outputs a sequence, Infini-gram identifies the longest exact match in training data for each Token's context. The performance data is truly impressive: for a 1.4 trillion Token dataset, queries take only 20 milliseconds, with storage of 7 bytes per Token. More critically, it can precisely attribute without analyzing model internal structures or requiring complex calculations. For AI companies that treat models as trade secrets, this is a tailor-made solution. Know that existing data attribution solutions are either inefficient, lack precision, or require internal model access. Infini-gram has found a balance across these three dimensions. 3) Additionally, I find the dataNets on-chain dataset concept proposed by OpenLedger particularly innovative. Unlike traditional one-time data transactions, DataNets allow data contributors to continuously enjoy revenue sharing during model inference. Previously, data annotation was a thankless task with meager, one-time compensation. Now it has become an asset with continuous earnings, with a completely different incentive logic. While most AI+Crypto projects focus on more mature directions like computing power leasing and model training, OpenLedger chose the hardest bone—data attribution. This technology stack might redefine the supply side of AI data. After all, in an era where data quality is king, whoever can solve the data value distribution problem will attract the highest-quality data resources. In summary, OpenLedger's PoA + Infini-gram combination not only solves technical challenges but, more importantly, provides an entirely new value distribution logic for the industry. As the computing power arms race cools down and data quality competition intensifies, such technical routes will certainly not remain unique. This track will see multiple solutions competing in parallel—some focusing on attribution precision, others on cost efficiency, and some emphasizing usability. Each is exploring the optimal solution for data value distribution. Ultimately, which company will emerge victorious depends on whether they can truly attract enough data providers and developers.
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Haotian | CryptoInsight
06-16
A market cap of $132 billion, yet only one AMM supporting the scene - is this the long-standing awkward situation of the $XRP ecosystem? However, the recent news that VivoPower, a listed company, has invested $100 million in XRP on @FlareNetworks might be about to change this situation. To be honest, my first reaction to this news was: someone is finally brave enough to take the lead. XRP, as the second-largest non-smart contract cryptocurrency after Bitcoin and the absolute leader in cross-border payments, has long failed to fully realize its potential in the rapidly developing DeFi battlefield. Now, the collaboration between Flare Network and VivoPower might be the real breakthrough for the XRPFi ecosystem. 1) XRP has never lacked market value recognition. The issue has been how to support its fourth-ranked market cap with a more robust "application ecosystem" under the current trend of DeFi and stablecoin regulation - a long-standing unresolved question. With a $132 billion market cap sitting there, but limited application scenarios in the DeFi field, this "valuable but not applicable" state is indeed awkward, preventing XRP's potential from being fully released. The emergence of Flare Network precisely hits this pain point. As an EVM-compatible Layer 1, Flare's core innovation is the FAssets protocol - capable of trustlessly and decentralizedly wrapping XRP into FXRP, thereby giving XRP smart contract functionality. With FXRP, XRP can be seamlessly integrated into every DeFi protocol on Flare. SparkDEX handles trading, Kinetic manages lending, Sceptre handles liquid staking - thus activating a complete DeFi ecosystem. However, asset composability alone is not enough. For a DeFi ecosystem to truly operate, stablecoin liquidity is absolutely crucial. This is Flare's second killer feature: the cross-chain stablecoin USD₮0, based on the LayerZero OFT standard, can directly connect to a liquidity pool of over $140 billion in USDT. With this combination, the power becomes evident: FXRP solves XRP's composability issue, USD₮0 resolves the liquidity infrastructure problem. XRP is completely upgraded from a mere "payment tool" to a "DeFi native asset", allowing users to use XRP for collateralized lending, provide liquidity to earn returns, and participate in various DeFi strategies. Flare Network has essentially paved all the roads XRP was lacking. 2) After setting the background, let's look at the significance of VivoPower's move. First, as a traditional listed company, investing $100 million all-in into an emerging DeFi ecosystem means their due diligence and risk control standards are no joke. This means Flare's technical architecture and security mechanisms must meet institutional-level requirements. More interestingly, VivoPower's designed "flywheel strategy": generating revenue through Flare protocols, then directly reinvesting those earnings into core XRP holdings, creating a self-reinforcing loop of "earn revenue → more XRP funds → redeploy". This approach essentially treats digital assets as productive assets generating cash flow, not just simple value storage. Isn't this concept identical to the yield-bearing stablecoins that Payfi is currently promoting? The supporting resources are also hardcore: a shareholder alliance including a Saudi prince, guidance from Ripple Asia's former executive team, and RLUSD stablecoin as cash reserves. The entire configuration has both financial strength and ecosystem resources, with regulatory compliance. Market data also shows the effect: Flare's TVL surged 1,600% after USD₮0's launch, with total TVL breaking $85 million and year-on-year growth exceeding 400%. Behind this explosive growth is the release of institutional funds' strong demand for compliant DeFi solutions. In summary, the collaboration between Flare and VivoPower is indeed an important milestone for the XRPFi ecosystem, marking the official entry of institutional-level XRP into the DeFi field. However, the ultimate success of this story depends on the comprehensive performance of technical stability, liquidity accumulation, and regulatory adaptability. After all, no matter how elegant the flywheel design is, it must first be able to spin.
XRP
3.21%
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