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Gm Nansen Explorers,
Welcome to this week's edition of Nansen's Weekly Research Roundup, where we bring you the latest research reports from our team. Lets dive in!
1. zkEVMs: Exploring Different Approaches to Scaling Ethereum
As described by Vitalik, zkEVMs (EVM-compatible ZK-Rollups) can be classified into four types, each making trade-offs between Ethereum compatibility and prover performance. Ethereum's extensive infrastructure, tooling, and developer ecosystem have led to its dominance in the DeFi sector, with zkEVMs being hailed as the "holy grail of scaling". Jake explores the concept of zkEVMs and their varying degrees of Ethereum compatibility.
2. What are Early zkSync Whales doing On-chain?
Understanding whale activity on a new chain is vital to spotting opportunities early. In this report, Jake analyzes the activities of the top 25 early whale bridgers to zkSync Era, who have an average of 32% of their total holdings on the platform. He breaks down their portfolio holdings and yield farming activity on zkSync Era.
3. Uncovering the Potential of Arbitrum Nova
Arbitrum Nova, a Layer-2 solution that offers even lower transaction fees than Arbitrum One, has seen a significant increase in its TVL, daily transactions, and active users. Although Ethereum's upcoming EIP 4844 could reduce the cost of posting transaction data, which would lower the fees on Arbitrum One, Nova’s unique advantages, such as immunity to gas spikes and a more balanced approach to decentralization and speed, allow it to stand out. Yong Li shares his insights and thoughts on Arbitrum Nova and how it differentiates itself from other chains.
4. GLP Wars: Dominant Players and Strategies
GMX is gaining traction in the DeFi space as users seek alternatives to centralized exchanges. Its GLP token, backed by a basket of assets like BTC, ETH, and USDC, is at the center of the "GLP wars" among protocols aiming to capture its liquidity. GMX v2, set to launch soon, will introduce isolated LP pools, synthetic assets, and a revised fee structure, increasing trading capacity and reducing risk. Seth sheds light on the current strategies used to maximize GLP yield.
The global economy is uncertain as growth slows and ambiguity persists around a potential hard or soft landing. Equity investors appear overly complacent, expecting a soft landing and increasing the likelihood of a market correction in May. While the US Federal Reserve is predicted to hike rates by 25 basis points at its next meeting, it is expected to hold steady for the remainder of the year even as growth deteriorates. Aurelie shares key data points on the macro situation and gives us her thoughts on possible implications for the broader crypto market.
That's a wrap for this week! We hope you found this content to be valuable and informative. If there's anything you'd like to see in future issues, just let us know. To get notifications on report releases, please follow us on Telegram.
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