enesonchain

whats the one defi app youd still trust with your bags in a bad market, for me its $AAVE it started as ethlend back in november 2017 and rebranded to aave in 2018, and aave literally means ghost in finnish the idea is simple, lenders deposit into pools and earn interest, borrowers put up crypto as collateral and borrow from that liquidity flash loans are the wild part, you borrow with no collateral as long as you pay it back in the same transaction stani kulechov built this before defi was even a thing, and tbh it shows in how battle tested it feels cmc shows around 17b locked in it, which is a lot of trust for a lending app imo my only gripe is the token still sits way under its 2021 high while the protocol keeps growing ever borrowed on it ?

respect where its due, $UNI is the reason half of us even learned what an amm is uniswap went live on ethereum back in november 2018 and made swapping tokens open to anyone with a wallet, no order book and no signup liquidity comes from pools that users fund themselves, and the protocol prices every trade automatically in september 2020 they dropped uni on past users as a governance token, which basically started the airdrop meta we still farm today my gripe has always been value capture, holders mostly got votes while the protocol did the volume imo still, its one of the few defi names old enough to have survived every cycle so far its sitting far below its old high, so the comeback case is still open tbh bought any yet ?

ngl i wrote off $AVAX as a 2021 coin and i might have been too quick avalanche is a layer one that splits the work across three chains instead of making every node validate everything x chain moves funds, p chain handles staking and validators, c chain is where the defi apps live and it works with metamask the bit i actually like is subnets, teams can spin up their own app specific chain with custom fees, tokens and even private validators thats a real pitch for companies that want their own network without building one from scratch imo my gripe is the c chain still fights ethereum and every l2 for the same users and liquidity ava labs and emin gun sirer have been building this since before most of us got into crypto tbh in or out ?

oracles are the most boring corner of crypto and thats exactly why $PYTH keeps my attention pyth pulls first party prices straight from exchanges, market makers and trading firms, then puts them onchain for apps to use its not only crypto either, the feeds cover equities, etfs, fx and commodities across a long list of chains the part i didnt expect, ice, the company behind the nyse, cited pyth data on its q3 earnings call per their cmc update that tells me tradfi is actually paying attention to onchain perps now still, if around the clock markets become normal someone has to price them, and pyth is literally built for that holding or sold ?

monero hides everything by default, $NIGHT is going for something different and honestly more useful midnight is a privacy chain from charles hoskinson, the cardano founder, using zk proofs so apps keep data private but can still prove things selective disclosure is the idea, you show a regulator only what they need and nothing else night is the utility token and it generates dust, a shielded resource that pays for private transactions contracts are written in typescript, which lowers the bar for normal devs imo my worry is supply, about two thirds of the max is already out and its far below its old high privacy that compliance teams can live with is literally the only kind institutions will touch bullish or nah ?

every time i move funds between chains i end up thinking about $ZRO layerzero isnt a bridge on its own, its the messaging layer a lot of apps use to talk across chains it carries any kind of message, not just tokens, so governance votes, function calls and nfts can all move between networks it runs on evm chains like ethereum, arbitrum and base and on non evm ones like aptos too backers are heavy, a16z, sequoia, paypal ventures and coinbase ventures all sit in it per cmc my worry is supply, only around 40% of the max is out so unlocks keep hanging over it imo still, interop is literally the plumbing nobody notices until it breaks using it or nah ?

a sitting president launching his own memecoin still feels unreal to me, but $TRUMP actually happened it went live on solana just days before his second inauguration, built to ride the hype of his supporters theres no tech story here and cmc doesnt pretend there is, its a political meme coin running on attention and headlines the part i keep coming back to is supply, most of it sits with trump linked companies and gets released slowly over time so every rally has that unlock schedule hanging over it imo anyone who bought the launch week top is still deep underwater, which tells you how celebrity coins usually go still, when politics hits the timeline this is literally the first thing people trade trading it or nah ?

telegram lending sounded like a joke to me until i read what $EVAA actually does its a lending protocol living inside telegram, you earn yield, borrow overcollateralized and soon pay with a card straight from a mini app cmc calls it the first lending protocol on telegram and the usage is real, over 310k unique wallets have touched it backers are animoca ventures and ton ventures, audits from trail of bits and quantstamp, so not a weekend project my issue is supply, only around a third of the max is circulating and founders plus seed investors hold a big chunk already had a huge week so im not chasing it here imo ever used it ?

why does nobody talk about $XPL when stablecoins are literally the one thing in crypto with real users ? plasma is a layer 1 built only for stablecoin payments, thats the whole pitch zero fee usdt transfers and custom gas tokens, so you dont need to hold the native coin just to send dollars cmc also tags it under neobank and bitcoin ecosystem, so theyre clearly going after the payments crowd not degens my worry is supply, under half of the max is circulating so unlocks will keep pressure on it for a while red day today but tbh the thesis didnt change overnight bag or pass ?

ngl i had $POWR filed away as a 2017 coin i was never going to look at again then i actually read it, powerledger is built for peer to peer energy trading, mostly around renewables founder left investment banking in london and did her phd on electricity market disruption, so its not some random team token sits on ethereum but energy transactions run on their own chain built on modified solana my issue is the usual one with old utility coins, partnerships sound great but i want real usage onchain still one of the few energy plays that stuck around watching or fading ?

hyperliquid gets all the perp dex love but $LIT is the one i keep watching quietly lighter is a perp exchange on ethereum where order matching and liquidations are verifiable with zero knowledge proofs thats the part that matters to me, on most venues you just trust the engine didnt mess with your liquidation backers are serious too, a16z, dragonfly and coinbase ventures all sit in it per cmc the catch is supply, only about a quarter of the max is circulating so unlocks are a real overhang imo still think verifiable matching becomes the standard for onchain perps sooner than people expect tried it yet ?

the thing nobody mentions about $G is that the unlock problem is basically already behind it gravity is a layer 1 where G pays the gas, secures the chain through staking and handles governance the pitch on its cmc page is raw speed and subsecond finality, built to fix scalability and cross chain headaches the backer list is no joke either, it came through binance launchpool and coinlist and sits in spartan and dwf labs portfolios what i like is supply, around 93% of the max is already circulating so not much is left to dump on holders still, fast chains are everywhere now and i need to see real activity before i call this more than a pump in or out ?

everyone treats $XRP like a bank coin, but the ledger had its own built in exchange way before uniswap was even an idea cmc literally calls it the first decentralized exchange, baked right into the protocol, plus token issuance at the base layer no mining either, validators just agree on the order of transactions and its settled in a few seconds and those validators arent only ripple, theres universities, exchanges and random individuals running them, anyone can spin one up thats the part people skip when they call it centralized imo i still think the market prices it on ripple headlines and not on what the chain does used the xrpl dex or nah ?

ngl the first time i heard of nexus it wasnt as a chain at all it was people running prover nodes for testnet points that was their open verifiable compute network, way before any token existed, and millions of nodes joined turns out that crowd is the actual plan for $NEX the chain sends out jobs that need proofs, nodes generate them and get paid in the token so its not just gas, its literally what pays the provers lightspeed, pantera and dragonfly backed it but tbh the node count was the stronger signal for me real question is how many of those nodes stick around without points ran a node or nah ?

confession, it took me way too long to find out one of the $NEAR founders co-wrote the attention is all you need paper thats the google paper behind transformers, basically why chatgpt exists so when they call it the blockchain for ai its not some late pivot, illia polosukhin was doing ai before crypto the part i like more tho is the fee design 70% of transaction fees get burned and the rest goes back as rebates to the contracts people actually use devs literally get paid when their app gets used new supply still gets minted every year for validators so usage has to keep up imo builder or holder ?

hot take, the most interesting thing about $XRP isnt ripple at all, its that the ledger was built as a fix for bitcoin back in 2012 david schwartz, jed mccaleb and arthur britto launched it as a faster, less energy hungry alternative to btc the company came after, chris larsen joined them and the founders gifted a huge chunk of the supply to what became ripple most people get that backwards tbh, the chain came first and the company was built around it and it hasnt stopped closing ledgers since, while bny now custodies xrp which wouldve sounded crazy a few years ago old tech, still boring, still working knew that or nah ?

random thought, if you held btc back when the fork happened you basically got free $BCH and most people dumped it without ever using it thats the part i find funny now, it was literally the first big airdrop before airdrops were a thing what i didnt know back then is how far they pushed the scaling idea, blocks are 32mb now while btc stayed small fees are so low that tipping creators a few cents actually works they even have privacy tools like cashfusion built around it still feels underused tbh, the tech is there but the users never really came used it or nah ?

quick question for the $HYPE , how many of you have actually looked at who secures the chain you trade on ? i hadnt until recently, and it changed how i think about the token only 24 active validators, picked by how much hype gets delegated to them so staking isnt just yield, its literally voting on who runs the exchange theres also a week long unstaking queue, which annoys people but makes a big stake attack way harder and the part i like most, hypercore and the hyperevm both sit under the same consensus, so apps on the evm side arent some separate weaker layer staking or trading ?

nobody buying $ONDO ever asks what the token actually lets you do, and tbh i didnt either for a long time its the governance token of the ondo dao and the dao holds specific rights over flux finance, the lending side most people literally forget ondo even has thats the part i like, holders get something real to vote on instead of a ticker running on vibes flip side, only about half of the 10b max supply is circulating, so unlocks deserve respect still, wall street keeps pushing tokenization onchain and ondo keeps showing up in that convo holding and adding slowly imo governance or vibes ?

everyone keeps arguing eth vs sol like you have to pick a side, and $SEI built its whole pitch around not picking ethereum network effects with solana style speed, thats the idea what i didnt know until recently is it started as the first sector specific l1, built only for trading dan edlebeck and jayendra jog went all in on one thing: a lag thats fine for a game is a disaster for an orderbook team pulls ppl from robinhood, goldman, google and coinbase, which tracks for a trading chain cmc now calls it the top evm chain by active users, over 90 million wallets tbh i care more about whether those wallets actually trade eth or sei ?