The DeFi Report

Should SOL be trading at a 70% discount to ETH? By the numbers (last 90-days). Solana has done: 1. 49% of Ethereum's fees (gas fees only, not including MEV). Up from 27% in Q2. 2. 57% of Ethereum's DEX volumes. Up from 36% in Q2. 3. 30% of Ethereum's stablecoin volumes. Down from 1.9x in Q2. 4. Has 4.1% of Ethereum's stablecoin supply. Up from 3.5% end of Q2. 5. Has 12% of Ethereum's TVL (up from 6% end of Q2). Finally, Solana has pulled a little under 2% of Ethereum's TVL over the last 90 days (net flows from ETH + L2s to Solana). The market is pricing SOL at a 70% discount to ETH. Is this right? We shared our views with 7.5k readers of The DeFi Report today. For the full analysis including qualitative + upcoming catalysts see the link in the first reply below ?? Data: powered by Artemis

What are the top use cases for web3 payroll today? And where is the industry heading? We chatted with Hugo Finkelstein, co-founder of Rise, about these topics and much more in episode 16 of The Signal. If you'd like to watch/listen to the full episode, you can do so via the link in the comments ??

The global nature of crypto presents many challenges for employers and contractors in terms of payroll compliance, currency exchange, service agreements, etc. Hugo Finkelstein, co-founder of Rise joined Michael and Oskari on Episode 16 to discuss web3 payroll using stablecoins. To watch/listen to the full episode and learn how Rise has funded over $300m of web3 payroll, see the link in the comments below ??

Will large payroll incumbents such as ADP be forced to adopt stablecoins and web3 payrolll solutions? Hugo Finkelstein, co-founder of Rise — a leading web3 payroll firm — shared his views with Michal and Oskari in episode 16 of The Signal. If you'd like to watch/listen to the full episode, see the link in the comments below ??

In the latest episode of The Signal, Oskari and Michael had the opportunity to chat with Hugo Finkelstein, co-founder of Rise — a leading web3 payroll firm leveraging stablecoins. Topics covered: 1. Current state of the payroll market and challenges that Rise solves for web3 startups 2. Why stablecoins are a powerful innovation for firms with global workforces 3. How stablecoins enable more frequent payroll 4. Use cases where Hugo is seeing the most traction today 5. Why payroll incumbents like ADP will be forced to adopt stablecoins 6. Web3 payroll by the numbers: top stablecoins, breakdown of fiat vs stablecoins payouts, # of contractors on Rise, total payroll funded, etc. 7. How to onboard with Rise (for employers and contractors) If you'd like to watch/listen to the full episode, see the link in the comments below ??

"Your margin is my opportunity" Martin Carrica, Co-Founder of Mountain Protocol explains how the yield-bearing USDM stablecoin is being used in new onchain insurance products in episode 15 of The Signal. If you'd like to watch/listen to the full episode, you can do so via the link in the first comment below ??

In episode 15 of The Signal, Martin Carrica, Co-Founder of Mountain Protocol explains how stablecoins have become "the Amazon for payments" in Argentina and how easy it is for his Grandma to use dollar-backed stablecoins to save and spend. If you'd like to check out the full episode, you can do so via the link in the first comment below ??

"Stablecoins are the gateway drug in Argentina." In the US most crypto users are onboarded via Bitcoin, Ethereum, or Solana. But not in Argentina. Martin Carrica, Co-Founder of Mountain Protocol shared his insights on episode 15 of The Signal. If you'd like to watch/listen to the full episode, you can do so via the link in the comments below ??

"You had a Macy's, or you had a Mom or Pop shop selling goods, and now you have Amazon. Stablecoins have become the Amazon in terms of access to the dollar for Argentinians." We had Martin Carrica, Co-Founder of Mountain Protocol on The Signal last week to discuss all things stablecoins. The wide-ranging discussion covers: 1. Martin's boots-on-the-ground experience in Argentina (and how his Grandma is using stablecoins there) 2. Why stablecoins are the gateway drug in Argentina for crypto (and why they prefer USDT) 3. USDT adoption in emerging economies 4. Why Stablecoins are a $10 trillion opportunity for Banks 5. The differences between USDC and USDT and why Martin views "their yield as his opportunity" 6. How Martin thinks US Banks will enter the stablecoin market 7. Why Bermuda became a leader in stablecoin regulation 8. Comparing Risk: USDC vs USDM 9. USDM user experience and how it pays yield to holders' wallets daily 10. Martin's predictions for stablecoin market cap, banks entering the space, and yield-bearing stablecoins --- If you'd like to check out the full episode, see the link in the comments below ??

Did you know that individuals, NFT projects, web2 companies, and web3 protocols are all launching liquid staking tokens on Solana via Sanctum? We had FP Lee, Co-Founder of Sanctum (Solana Liquid Staking Protocol) on episode 14 of The Signal to break it all down. If you'd like to check out the full episode, you can do so via the link in the comments below ??