Nate Maddrey

@nmadd

313 Following

504 Followers

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I made a new Dune dashboard to track the amount of dry powder held by Farcaster users, in response to @dwr.eth's recent bounty Check it out here: https://warpcast.com/emptyblock/0xf3db8542

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☁️☁️☁️

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I made some updates to the Farcaster Dry Powder dashboard based on all the feedback I got: - Simplified the Farcaster connected addresses query and filtered out disconnected addresses cc @yesyes - Fixed an error with L2 ETH balances, Base and Optimism ETH balances now showing correctly cc @nastya - Added an option to filter the Top Farcaster Tokens table by blockchain cc @jake - Added gini coefficient for all tokens cc @czar @ghostlinkz.eth Thanks for all the suggestions!

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Doubling down on this Ignore the noise. Bet on builders And most of the builders are still on Base

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Here are the queries I used for calculating Farcaster dry powder, broken down step by step 👇

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AAVE had about $175M liquidated over the last 24 hours That’s the most in a single day since early August ’24, when ETH price dropped from ~$3k to $2.3K

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While all eyes have been on $TRUMP, @deployer has been cooking @bankr basically abstracts away the complexities of dealing with trading and DeFi interfaces, and lets you use natural language instead. Although the current version of Bankr is relatively simple, it’s on its way to becoming a fully functional cross-chain DeFi agent The upgraded version of Bankr is going to have a standalone terminal that lets you swap any token for another (the current version only supports trading WETH for tokens) and place limit orders, all using natural language. It will also have X integration in addition to Farcaster so you can trade through the feed Under the hood, Bankr is being upgraded to a multi-agent system, which means more chain and DeFi integrations in the future. SOL integration is planned with more likely to come $BNKR is in a good position for growth with new potential users from SOL and X integrations, and a big step forward in functionality https://dune.com/nmadd/bankr-metrics

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Looking at some trading volume trends for the 10 biggest @clanker tokens: Trading volume delta (buy volume minus sell volume) turned negative during the weekend liquidity crunch as traders rushed to buy $TRUMP. The dip wasn't too extreme historically though, reaching a low of -$1.2M on the 18th. It's also already swinging back positive, led by a strong bounce back from @bankr This implies that while some Clanker tokens were sold off to ape into $TRUMP, it appears to be a one-time shock and not necessarily a lasting trend going forward. But that being said, we could see similar one-time sell offs in the future for other large liquidity crunch events cc @clankerdata

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Very weird timeline now. Obviously a huge catalyzing event for Solana but also inherently unstable 80% of supply is held by the team and not yet on the market. Similar tokenomics as the Hawk Tuah coin but with a slower unlock With that being said, Solana has clearly won the memecoin game. This will unleash a new wave of retail investors and celeb coins, but also bring many new grifts and scams My initial takeaways: - don’t ignore Solana, it’s where most retail investors are. We’re probably about to see more attention on crypto than ever. But proceed with caution - Keep betting on builders who are building real products. Attention will be sucked up by Trump in the short term which means there will be a lot of opportunities to double down on promising projects. Most of those are still on Base

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The mempool is the place your transactions go after you submit them but before they're officially confirmed on the blockchain. So in other words when you send a tx and get a "transaction pending" message, your transaction is in the mempool Mempool stands for "memory pool" and it's basically just a temporary holding zone. Blockchains are peer to peer network, so when you send a tx it's messaged to all other nodes on the network and temporarily stored in the mempool. Miners or validators then pick txs out of the mempool and order them to form a block. Once a tx is confirmed in a block it's removed from the mempool Miners typically order the txs from highest to lowest fees and choose the txs with the highest fees (they're incentivized to do this since they keep the fees if they win the block), but could really order the txs any way they want This is where MEV comes into play. For certain DeFi txs validators can pocket a profit for themselves by ordering the txs in an unexpected way

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I've won and lost some poker chips but I won't blame the hand https://youtu.be/U5NJeNNz_iY?si=dW1gH7ALlHV5RADb&t=35

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Most indexes are weighted by market cap so if you want something similar to SPY you’d give BTC the biggest allocation, then ETH, etc. There have been a lot of crypto index funds created over the years, e.g. Bitwise 10 which tracks top 10 assets weighted by market cap https://bitwiseinvestments.com/crypto-funds/bitw Part of SPYs appeal though is it’s super liquid since it gets so much trading volume. And it truly gives good diversification of mostly good stocks. But beyond the top 3-5 you end up with a lot of shitcoins in crypto indexes. So personally I just hold the major crypto tokens and occasionally rebalance myself rather than invest in an ETF or index

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Props to the Farcaster team for trying something new here. But who is this for? Farcaster already has a reputation for being small and insular. Let’s be real, there still aren’t too many of us here. People on here are practically begging the Farcaster team to put more resources towards marketing to bring in new users, but so far it hasn’t really happened. I know this new reward algo adjusts for follower count and tries to give smaller accounts a fighting chance. That’s great, but easier said than done. Leaderboard systems like this tend to devolve into popularity contests that end up rewarding people who already have strong numbers. I would like to see the ecosystem grow, so I hope I’m wrong. Hopefully the Farcaster team is able to thread the needle and use this as an opportunity to start bringing in and promoting some fresh faces

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Merry Goosemas!

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I made a Dune dashboard to track @bankr metrics Bankr is a new ai agent built by @deployer for swapping tokens directly through your social feed Check out the dashboard and let me know what you think! https://dune.com/nmadd/bankr-metrics

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Farcaster sign-up spikes tend to coincide with token price peaks With the recent rise of CLANKER and ANON, new users are back on the rise 📈

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The size of the ANON anonymity set increased from about 3,000 to 4,362 addresses after the amount needed to post was recently lowered from 15k to 5k ANON

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I made a new dashboard for tracking all things anon @anoncast @superanon @33bits https://dune.com/nmadd/anonalytics

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I just minted ANON COLORS #120! Check it out:

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This is probably the most important question for the long-term health and sustainability of Farcaster: how can it achieve meaningful decentralization if there's one extremely dominant client (Warpcast)? Without client decentralization Farcaster risks going the route of web2 social apps that started off with an open ethos but grew more centralized over time. And to achieve client decentralization there needs to be real incentives and opportunities for alt-client builders, which don't really exist today. Great discussion about this from @df @stephancill and others

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