How Is BlockEstate Bringing Real Estate to Arbitrum?
Stader's ETHx | Arthur Hayes on Decentralizing ETH | Mainfold Finance's mevETH
GM, this is your Daily Bolt briefing.
In today’s summarized notes; we’ve included the latest developments regarding ETH. Following the ETH Shanghai update, many crypto figureheads and projects took the opportunity to explain the importance of ETH staking, and explain new primitives and innovations around Liquid Staking Derivatives (LSDs) and Liquid Staking Tokens (LSTs).
When you’ve caught up on the latest info you need to know on ETH, move on to our note of the day, featuring BlockEstate, a company building a Real Estate Investment Fund, on Arbitrum. The days of TradFi, Real World Assets (RWAs) and DeFi being isolated, distinct sects of finance may be drawing to a close.
In addition to our notes, we’ve also published a new breakdown on Chronos Finance, available to all Revelo members with FREE memberships. Read tomorrow’s issue for more content on Chronos.
Stay Vigilant.
1/ DeFi Sparks Ep. 20 - with Amitej Gajjala of Stader
Preview: In this episode, Nick Drakon is joined by Amitej Gajjala to discuss their deployment on Ethereum, $ETHx, liquid staking derivatives and more. Click here to listen to the full episode (39 mins).
Read our Note (5 mins) and save 34 mins.
If 51% of the parties collude and they want to maliciously attack the chain, that is detrimental to the entire network.
It’s not possible to plan ahead on these kinds of events that can occur at any point in time.
This is why a lot of key players like Stader, StakeWise and others are needed.
There are 3 factors when it comes to staking with LSD protocols: is it self-custodial or not, is it decentralized or not, and how big is the ecosystem around the protocol?
Considering all the factors, they designed $ETHx considering the best of both worlds.
It is a hybrid architecture where they have pools to which the $ETHx staking manager delegates.
The first pool is called the permissionless operator pool and this is where anybody with a small amount of $ETH and a little bit of $SD can bond those as a protection mechanism against slashing.
The second pool is called the permissioned validator pool and these are high-performing sets of validators that the staking manager will delegate to and as an extension of it, $ETHx also incorporates several other pools in the future.
2/ Arthur Hayes - Shapella’s Show
Preview: In this Medium article, Arthur Hayes discusses his fund Maelstorm, ETH's Shanghai Upgrade, potential risks with Lido's model, and more! Click here to read the full article (8 mins).
Read our Note (2 mins) and save 8 mins.
Here are some key takeaways:
Arthur Hayes launched Maelstrom, a crypto family office fund, in December to invest in early-stage projects with the potential for excess returns over Bitcoin and Ether.
The goal is to further decentralization and provide alternatives to the traditional financial system.
Hayes initially invested in $LIDO but later sold his position due to concerns about insufficient decentralization.
Despite the industry motto "Not your keys, not your crypto", individuals continue to give up control of their private keys, resulting in billions of dollars worth of lost or stolen funds.
The Shanghai-Cappella (Shapella) upgrade will allow stakers to withdraw staked $ETH for the first time, impacting existing custodial staking business models.
The upgrade could expose potential risks in Lido's model, such as node operators refusing to exit, rendering staked $ETH illiquid and inaccessible.
3/ Flywheel DeFi - Manifold Finance mevETH
Preview: In this episode of Flywheel DeFi, Samuel McCulloch is joined by James (Head of BD of Manifold Finance) to discuss Manifold’s mevETH, and more! Click here to listen to the full episode (15 mins).
Read our Note (1 min) and save 14 mins.
Here are some key takeaways:
mevETH is a liquid staking platform built from the ground up around MEV (Maximal extractable value) capture, meaning it's designed to protect users from sandwich attacks and front-running while recouping revenue from non-predatory MEV.
mevETH is the first natively multi-chain liquid staking token, which means it can be transferred across different chains without any wrapping, avoiding security risks inherent in using wrap tokens.
mevETH is not a rebasing token and doesn't require any wrapping.
mevETH is expected to bring in additional revenue through MEV opportunities.
mevETH will continue to research and identify new revenue streams over time.
If you read these 3 Notes on Revelo Intel you would have saved: 54 minutes!
BlockEstate Twitter Spaces 12th April, 23 - BlockEstate Introduction
In this BlockEstate Twitter Spaces, host Marph from BlockEstate is joined by Andrew Mitchell (CEO of BlockEstate) and Omar EL Dewey (BlockEstate Fund Manager) to give an introduction to what the team is building at BlockEstate.Read or listen to our notes below to learn more.
Intro
Nicolas, aka Marph, is part of the BlockEstate team, has a tourism, economics, and psychology background, and has been involved in DeFi since DeFi summer of 2021.
Andrew Mitchell, a chef, and entrepreneur is the CEO of BlockEstate, a project aimed at backing crypto with real-world assets, providing tangible value in contrast to many crypto projects.
Omar EL Dewey has 18 years of experience in various aspects of real estate, including development, brokerage, and commercial projects, and is the project’s portfolio manager for Egypt.
The team is fortunate to have Shaher, who has extensive real estate experience ranging from sales to brokerage and property management and will handle the operations of property management for acquired properties.
The team plans to engage with the community and potential co-investors to grow the project into something big and sustainable.
The team believes in the potential of fractional real estate ownership, and combining their diverse experiences and technological opportunities will help make BlockEstate a successful project.
BlockEstate’s Investment Strategy
The team is focusing on touristic-centric properties, such as seaside locations in Egypt, Spain, and the Mediterranean coast.
BlockEstate will acquire a mix of revenue-generating properties and off-plan properties for speculation, with payments in local currency.
Financial projections indicate an average APR of roughly 15% per year, with revenue streams in dollars or other foreign currencies.
When selling touristic-centric properties, it is possible to request payment in foreign currency without any issues.