GM, this is your Daily Bolt briefing.
In this edition, we’ll be providing you with info on
Learn about what the Sui blockchain could potentially have to offer, from parallel processing to sponsored transactions.
Learn about the value proposition of Liquity, including attractive borrowing rates and increased utility for its LUSD stablecoin.
Stay alert, stay informed ⬇️
1/ Real Vision - The Challenges of Ethereum and the Sui Blockchain
Preview: Raoul, Evan, and Santiago discuss the state of the blockchain ecosystem, the challenges that Ethereum faces, and the Sui. Click here to listen to the full episode (49 mins).
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Here are some key takeaways:
Evan says that Mysten Labs aims to solve the problems with current blockchain models. He points out the issues with Solidity, such as dynamic behavior and re-entrancy bugs, which make it untrustworthy.
Evan says that Sui is a blockchain with a different data model where everything is an object. This model allows for more powerful ownership models and makes objects composable.
He says that Sui allows for parallel processing of transactions, making it more scalable.
He says that record-keeping is done asynchronously, which is not part of the processing pipeline, making Sui more scalable.
Evan says that there's no sacrifice in terms of security with Sui. He points out that the common trade-off between scalability, security, and decentralization doesn't apply to Sui because it can scale by adding more workers to each validator.
Evan says that he believes in the potential of Sui in various sectors, including gaming, commerce, and financial products. He emphasizes that Sui is about disintermediation, replacing intermediaries that provide the trust with verifiable software.
Evan talks about the upcoming features in Sui, including ZK login, which allows users to use their Web2 identities to create attestations on-chain.
He says that this feature, along with sponsored transactions, can lower the friction for users and abstract away many of the complexities of crypto.
2/ Metaweb Ventures-Introduction to Pendle, Linear, Diva, LSDs and LSDfi
Preview: imajinl, Bojan, and Sam introduce Liquity and discuss its potential. They also talk about immutability, stablecoins. Click here to listen to the full episode (61 mins).
Read our Note (7 mins) and save 54 mins.
Here are some key takeaways:
Bojan shares that the Liquity team has been around for over two years and has issued over $4 billion dollars in loans. He says that he sees this as the protocol's success and acceptance in the DeFi space.
Bojan talks about Liquity’s aim to build a protocol with minimal centralization vectors, no governance, and complete immutability. He says this means that once the protocol is deployed, it cannot be changed or controlled by any central authority, making it truly decentralized.
He says that on the positive side, immutability provides assurance for users that the protocol's rules won't change unexpectedly. It also reduces attack vectors, making the protocol more secure.
He adds that on the negative side, immutability means that the protocol can't adapt to changing market conditions, add new collateral types, or adjust interest rates. This could potentially limit the protocol's flexibility and responsiveness.
imajinl brings up a study that shows most major protocols are fully upgradable by a multi-signature wallet controlled by the core team. He says that this could potentially put user funds at risk and open up centralization vectors. imjainlt asks for Bojan and Sam's opinions on why most protocols are set up this way.
imajinl asks why someone would choose Liquity over other collateralized debt protocols (CDP) like MakerDAO.
Sam says that Liquity offering no interest, a half percent borrowing fee, and better capital efficiency is a better alternative than MakerDAO for users. He says that these features make Liquity a potentially more cost-effective option for users who want to borrow against their ETH holdings.
Sam says that borrowing against ETH on Liquity will soon be 7.5 times cheaper than on MakerDAO.
Bojan says that LUSD will integrate with crypto cards, allowing it to be used for day-to-day expenses. He suggests that LUSD could be used as a form of payment in everyday transactions, similar to traditional fiat currencies.
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