GM, this is your Daily Bolt briefing.
Curious about what Sei Network has to offer? SEI has been gaining more traction on twitter lately, in light of their upcoming mainnet launch. In this edition, we’ve included some insights from Sei Founder Jay Jog to explain what exactly his product is, and how it can provide an optimized trading experience.
We’ve also included two more notes reports detailing:
Catalyst, an AMM aiming to solve the problem of liquidity fragmentation.
Arca CIO Jeff Dorman, who joins Raoul Pal to give his 2 cents on current market trends.
Stay alert, stay informed.⬇️
1/ Logan Jastremski - Unifying Liquidity in a Non-Composable World
Preview: In this episode of the Logan Jastremski Podcast which took place on May June 1st, 2023, Logan invites Jim Bianco to introduce Catalyst and how the protocol solves the liquidity fragmentation problem. Click here to listen to the full episode (60 mins).
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Here are some key takeaways:
Jim says that Catalyst is a liquidity protocol that facilitates the movement of liquidity across different blockchain networks.
He says that the protocol is designed to solve the issue of liquidity fragmentation in the multi-chain world; Catalyst allows users to move their liquidity from one chain to another in a trust-minimized way.
He says that trust minimization is important because it allows for secure and reliable interactions between different blockchain networks, which is crucial for achieving the vision of a seamless multi-chain world
He says that Catalyst is essentially made up of two parts: the smart contract logic and the messaging interface; it doesn't run its own node infrastructure but outsources that capability.
Catalyst aims to reduce latency and provide some level of composability or atomicity that abstracts away latency, improving the overall user experience.
Jim says that monolithic chains have the advantage of sovereignty and streamlined user experience, but the trend is moving towards modular chains that are application-specific.
Jim believes that both monolithic and modular chains will continue to coexist in the future.
2/ Real Vision Crypto-State of Markets, Layer-1 Protocols & Ordinals
Preview: In this episode of Real Vision Crypto, Raoul Pal and Jeff Dorman discuss the current state of DeFi, crypto markets, layer-1 networks, NFTs, Bitcoin Ordinals, and the upside and downside risks of cryptocurrencies. Click here to listen to the full episode (58 mins).
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Here are some key takeaways:
Jeff Dorman says that the DeFi market is currently in a state of rebuilding and retooling.
He believes that there's a focus on risk management, and the market is learning from the mistakes of the past.
Jeff Dorman thinks that the other layer-1s need to find a niche to compete effectively with Ethereum. He explains that they need to specialize in specific markets such as sports or gaming.
Jeff Dorman says that layer-1 blockchains are in the business of selling blockspace.
Jeff Dorman thinks that ETH has become the primary investment for those interested in blockchain technology due to its wide range of applications, including NFTs, DeFi, and stablecoins.
Jeff Dorman says that he sees the ongoing court cases involving Ripple, Grayscale, and Coinbase against the U.S. Securities and Exchange Commission (SEC) as potential upside risks in the crypto space.
Jeff Dorman says that there is potential for the rise of Web3 loyalty programs such as Starbucks’ Odyssey program using NFTs as a structure.
He believes that big brands will see the value in getting closer to their customers and creating loyalty through blockchain technology.
3/ The Delphi Podcast - Introduction to Sei Network
Preview: In this episode of The Delphi Podcast, Tommy invites Jay from Sei Network to discuss the network, its origins, and the latest developments. Click here to listen to the full episode (66 mins).
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Here are some key takeaways:
Sei is a Layer-1 blockchain built for trading. It was co-founded by Jay, who was inspired to create a decentralized trading platform after working at Robinhood during the GameStop trading fiasco.
He explains that the network is designed to provide a superior user experience compared to existing decentralized exchanges with fast finality, high throughput, and specialization for its core focus, which is being a Layer-1 blockchain built for trading.
According to Jay, Sei achieves its goals through a number of innovative technologies. These include frequent batch auctions, twin-turbo consensus, and parallelization.
He states that frequent batch auctions prevent front-running and ensure that everyone gets the same trade price. Twin-turbo consensus achieves faster time to finality and eliminates the risk of re-org.
Jay says that parallelization increases throughput and allows for more transactions to be processed per second.
He explains that Nitro Labs is building a Solana VM-based roll-up on Sei. By building a Solana VM-based roll-up, Nitro is likely aiming to leverage the speed and low costs of the Solana blockchain while also benefiting from the features of the Sei Network.
Jay explains that there are several ways for people to get involved with Sei, including an entrepreneur investments program, an ecosystem fund, and an upcoming hackathon focused on AI.
If you read these 3 Notes on Revelo Intel you would have saved: 2 hours and 35 minutes!