Research Analyst at Blockmedia | ex-Xangle Research Team | Aptos Collective๐ŸŒ

Joined June 2023
Recently, Aptos introduced Shelby, a decentralized, read-centric storage project that has been gaining significant attention. The launch of the @shelbyserves project is naturally sparking speculation around the potential $SHELBY token. Decentralized storage is a sector with growing technical demand and real-world utility. Peer projects in this space tend to have relatively high fully diluted valuations. As of June 30, 2025, Filecoinโ€™s FDV is approximately $4.4 billion, and Walrus is around $2 billion. In this context, Shelbyโ€™s debut could become more than just a new storage protocol. It has the potential to act as a major catalyst for the entire Aptos ecosystem. A relevant case study can be found in Walrus, a decentralized storage protocol built on Sui, another Move-based blockchain like Aptos. WAL conducted a large-scale airdrop targeting testnet participants and Sui ecosystem contributors. Four percent of the total token supply was distributed through the initial airdrop, which amounted to roughly $80 million based on a $2 billion FDV. The top airdrop recipient received 100,000 WAL, equivalent to about $40,000 as of June 30. Following the event, the Sui ecosystem experienced a significant rise in both transaction volume and active users. Around the time of WALโ€™s token generation event, the price of SUI rose by approximately 20 percent in just five days. Notably, the highest daily active address count and transaction volume in 2025 also coincided with the WAL event. This example demonstrates that decentralized storage can impact not just protocol-level success but also the broader ecosystemโ€™s activity and asset valuations. On the technical side, Shelby is generating strong expectations. It leverages Clay Code based erasure coding to achieve efficiency comparable to Web2 cloud services and solves data bottlenecks through micropayment channels and a dedicated high speed network. It also enhances data quality through a read based incentive model that rewards users when data is accessed. This has raised expectations that Shelby could support decentralized applications that require high performance data infrastructure, such as AI inference systems, high throughput DeFi protocols, and media streaming platforms. If youโ€™d like to learn more about the technical strengths of Shelby and how it could transform the Aptos ecosystem, please refer to the research linked below. xangle.io/en/research/detailโ€ฆ
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๋ฒ ๋ฆฌ์—์ด์…”๋„, ์Šค์™‘ ํŠธ๋ ˆ์ด๋”ฉ ์ปดํŽ˜ํ‹ฐ์…˜ ๊ฐœ์ตœ $20,000 ์ƒ๊ธˆ์ด ๊ฑธ๋ฆฐ ์ฒซ ๋ฒˆ์งธ ์Šค์™‘ ํŠธ๋ ˆ์ด๋”ฉ ๋Œ€ํšŒ๋ฅผ ๊ฐœ์ตœํ•ฉ๋‹ˆ๋‹ค! ๐Ÿฅ‡: 5,000 USDC ๐Ÿฅˆ: 4,000 USDC ๐Ÿฅ‰: 3,000 USDC ์‹œ์ž‘: 2026๋…„ 9์›” 10์ผ ์˜ค์ „ 9:00 (KST) ์ข…๋ฃŒ: 2026๋…„ 9์›” 24์ผ ์˜ค์ „ 9:00 (KST)
Weโ€™re hosting the first Variational swaps trading competition with $20,000 in prizes! The competition will rank users based on a โ€œCompetition Scoreโ€ (PnL on Swap Markets ร— โˆšVolume on Swap Markets) ๐Ÿ‘‡
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Honestly, I think swaps are a bit different. The trading experience is really good. The spreads and funding rates are insanely low. Once more assets are launched, I think it could really change the market landscape
Execution costs on swaps are lower than the most liquid TradFi perp venues at every order size. At large order sizes, swaps are up to 8 times cheaper to trade.
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๐ŸŽ™ Derive Podcast: โ€œLeading the Onchain Options Market, Derive Pushes Innovation Again with V3โ€ Blockmedia sat down with @nickforster , Co-founder and CEO of @DeriveXYZ , to discuss the future of onchain options. Rather than simply introducing Deriveโ€™s product, the podcast explores the new strategies options can offer investors, the potential of the onchain options market, the factors behind Deriveโ€™s growth, and where the protocol is headed next. Here are some of the key questions and takeaways ๐Ÿ‘‡ Q1. How are options different from spot and perpetual futures? Options are more than just a way to bet on whether prices will go up or down. They can be used to hedge risk, generate yield, and express more nuanced market views. Investors can protect their holdings against downside risk or sell calls and puts to earn additional premium income. By combining multiple options, traders can also build a much wider range of strategies tailored to different market conditions and objectives. Q2. What drove Deriveโ€™s rapid growth in the onchain options market? Nick attributed Deriveโ€™s growth to a combination of market timing and five years of product development. Building an options market requires far more than simply launching a trading venue. Liquidity must be available across a huge number of strike prices and expiries. Over the years, Derive has built deep liquidity across options and perpetuals, alongside strong relationships with market makers and traders. As demand for new yield-generating strategies has grown, that infrastructure has begun to translate into meaningful growth. Q3. What are the advantages of trading options onchain? The most fundamental benefits are self-custody and transparency. Users can retain custody of their assets while trading and directly verify the protocolโ€™s collateral, solvency, and risk-management framework onchain. But the larger opportunity lies in composability. Other protocols and services can use Deriveโ€™s options liquidity to build yield products, structured products, and entirely new financial services on top of the protocol. Q4. What changes with Derive V3? The core idea behind V3 is to evolve Derive from a standalone options exchange into an integrated risk engine capable of supporting a wide range of financial strategies. Within a single system, users will be able to manage โ–ณcalls and puts โ–ณperpetual futures โ–ณlending and borrowing โ–ณspot-related positions, while the range of supported assets expands from crypto into RWAs. A new Vault infrastructure is also designed to dramatically shorten the time required to integrate new strategies and products. The goal is to make it easier for external teams to build and launch structured products and investment strategies on top of Derive. ๐Ÿ’ก The core takeaway from the podcast The value of options goes far beyond leveraged speculation. At their core, options allow investors to hedge existing positions, generate additional yield, and turn different market views into customized strategies. Derive is taking that utility one step further. With V3, the protocol aims to connect options, perpetuals, lending, and RWAs, evolving into an onchain derivatives infrastructure where a much broader range of structured products can be built. ๐ŸŽฅ Watch the full podcast to hear more about Deriveโ€™s view on the future of onchain options and its strategy for V3. youtube.com/watch?v=-gy0U_rfโ€ฆ
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A big shift is coming. @glider__ is the gateway to tokenized equities on Base.
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Base just launched MCP. Now you can simply prompt GPT or Claude to execute all kinds of onchain actions. @base airdrop farming is about to get way more competitive โ€” anyone can generate transactions with a simple command now.
Introducing Base MCP Your agent's new gateway to Base โ†’ Connect an agent to your Base Account โ†’ Enable it to swap, trade, and manage your portfolio โ†’ Use plugins from leading apps on Base The next stage of the agentic onchain economy
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This marks the first simultaneous TGE and @Official_Upbit in five months since @monad last November. Itโ€™s truly impressive. Itโ€™s clear that the market is finally resonating with the potential and the future of @USDai_Official
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๋ฒ ๋ฆฌ์—์ด์…”๋„์—์„œ loss fund๊ฐ€ ์‚ฌ๋ผ์ง„ ๊ฒƒ์— ๋Œ€ํ•ด ์•„์‰ฝ๋‹ค๋Š” ๋ฐ˜์‘์ด ๋งŽ์ง€๋งŒ, ๋ณด์ƒ ์ž์ฒด๊ฐ€ ์—†์–ด์ง„ ๊ฒƒ์€ ์•„๋‹™๋‹ˆ๋‹ค. ๊ธฐ์กด์—๋Š” ๋ณด์ƒ์ด ๋žœ๋คํ•˜๊ฒŒ ๋ถ„๋ฐฐ๋˜๋Š” ๊ตฌ์กฐ์˜€๋‹ค๋ฉด, ์ด์ œ๋Š” ๋ชจ๋“  ์ฐธ์—ฌ์ž์—๊ฒŒ ๋ณด๋‹ค ๊ณตํ‰ํ•˜๊ฒŒ ๋‚˜๋ˆ ์ง€๋Š” ๋ฐฉ์‹์œผ๋กœ ๋ณ€๊ฒฝ ๋  ์˜ˆ์ •์ž…๋‹ˆ๋‹ค. ๋˜ํ•œ ์ด๋ฒˆ ์—…๋ฐ์ดํŠธ๋ฅผ ํ†ตํ•ด ๊ฑฐ๋ž˜ ๋ณผ๋ฅจ ๊ธฐ์ค€์œผ๋กœ OLP ํ• ๋‹น์„ ๋ฐ›์„ ์ˆ˜ ์žˆ๋Š” ๊ธฐ๋Šฅ๋„ ์ถ”๊ฐ€๋์Šต๋‹ˆ๋‹ค. ์ „๋ฐ˜์ ์œผ๋กœ ๋ณผ๋ฅจ์„ ์œ ๋„ํ•˜๋ ค๋Š” ์ „๋žต์œผ๋กœ ๋ณด์ด๋ฉฐ, TGE๊ฐ€ ๊ฐ€๊นŒ์›Œ์ง€๊ณ  ์žˆ๋‹ค๋Š” ์‹ ํ˜ธ๋กœ ํ•ด์„๋ฉ๋‹ˆ๋‹ค. @variational_io
gvar! ๋งŽ์€ ๋ถ„๋“ค์ด @variational_io ์˜ ์ฐจ๋ณ„ ํฌ์ธํŠธ๋กœ ๋ด์ฃผ์…จ๋˜ ๋กœ์Šค๋ฆฌํŽ€๋“œ (loss refunds) ํ”„๋กœ๊ทธ๋žจ์ด ์˜ค๋Š˜๋ถ€๋กœ ์ข…๋ฃŒ๋˜๋ฉด์„œ, ๊ด€๋ จ ๋ฌธ์˜๊ฐ€ ๋งŽ์•„ ์ด๋ฒˆ ๊ธฐํšŒ์— ๊ฐ„๋‹จํžˆ ์„ค๋ช…๋“œ๋ฆฌ๋ ค๊ณ  ํ•ฉ๋‹ˆ๋‹ค. ์ด๋ฒˆ ์—…๋ฐ์ดํŠธ๋ฅผ ํ†ตํ•ด ๊ธฐ์กด ๋กœ์Šค๋ฆฌํŽ€๋“œ์— ์‚ฌ์šฉ๋˜๋˜ ์ˆ˜์ต์€ ์šฐ์„  ํ”„๋กœํ† ์ฝœ ํŠธ๋ ˆ์ €๋ฆฌ๋กœ ์ „ํ™˜๋ฉ๋‹ˆ๋‹ค. ์•ž์œผ๋กœ๋Š” ์ƒˆ๋กœ์šด ๋ฆฌ์›Œ๋“œ ๋ฉ”์ปค๋‹ˆ์ฆ˜์„ ์ง€์†์ ์œผ๋กœ ๋„์ž…ํ•˜๋Š” ํ•œํŽธ, ํŠธ๋ ˆ์ €๋ฆฌ์— ๋ฐ˜์˜๋˜๋Š” ์ˆ˜์ต ๋น„์ค‘๋„ ์ ์ฐจ ํ™•๋Œ€ํ•ด ๋‚˜๊ฐ€๋ฉฐ ๋ฒ ๋ฆฌ์—์ด์…”๋„์„ ๊ฐ€์žฅ ๋ณด์ƒ์ด ๋งค๋ ฅ์ ์ธ ํŠธ๋ ˆ์ด๋”ฉ ํ”Œ๋žซํผ์œผ๋กœ ๋งŒ๋“ค์–ด๊ฐ€๊ณ ์ž ํ•ฉ๋‹ˆ๋‹ค. ์•ž์œผ๋กœ๋Š” ์•„๋ž˜์™€ ๊ฐ™์€ ๋ฐฉํ–ฅ์œผ๋กœ ๋ฆฌ์›Œ๋“œ ๊ฒฝํ—˜์„ ๊ฐœ์„ ํ•ด ๋‚˜๊ฐ€๊ณ ์ž ํ•ฉ๋‹ˆ๋‹ค: 1. ๊ฑฐ๋ž˜ ๊ฒฐ๊ณผ์™€ ๊ด€๊ณ„์—†์ด ๋งค ํŠธ๋ ˆ์ด๋“œ๋งˆ๋‹ค ํ˜œํƒ์„ ๋ฐ›์„ ์ˆ˜ ์žˆ๋Š” ๋ณด์ƒ ๊ตฌ์กฐ๋กœ ์ „ํ™˜ 2. ์ผ๋ถ€๊ฐ€ ์•„๋‹Œ ๋” ๋งŽ์€ ์œ ์ €๋“ค์ด ๊ณต์ •ํ•˜๊ฒŒ, ๊ทธ๋ฆฌ๊ณ  ๊พธ์ค€ํžˆ ์ฒด๊ฐํ•  ์ˆ˜ ์žˆ๋Š” ๋ฐฉํ–ฅ์œผ๋กœ ๊ฐœ์„  3. ์œ„ ๋ฐฉํ–ฅ์„ฑ์„ ๊ธฐ๋ฐ˜์œผ๋กœ, ๋‹ค์–‘ํ•œ ์ƒˆ๋กœ์šด ๋ณด์ƒ ๋ฉ”์ปค๋‹ˆ์ฆ˜์„ ์ง€์†์ ์œผ๋กœ ๋„์ž… ์˜ˆ์ • ๊ทธ๋ฆฌ๊ณ  ์ €ํฌ๋Š” ์—ฌ์ „ํžˆ, ๋ฒ„ํ‹ฐ์ปฌ ์ธํ…Œ๊ทธ๋ ˆ์ด์…˜ + RFQ ๋ชจ๋ธ ๊ธฐ๋ฐ˜์œผ๋กœ, ์œ ๋™์„ฑ๋ถ€ํ„ฐ ์ฒด๊ฒฐ, ๋ณด์ƒ ๊ตฌ์กฐ๊นŒ์ง€ ํ•ต์‹ฌ ํŠธ๋ ˆ์ด๋”ฉ ๋ ˆ์ด์–ด๋ฅผ ์ง์ ‘ ์šด์˜ํ•˜๊ณ  ์žˆ์Šต๋‹ˆ๋‹ค - ์ด๋ฅผ ํ†ตํ•ด ์™ธ๋ถ€ ์˜์กด ์—†์ด ์•ˆ์ •์ ์ธ ์ˆ˜์ต ๊ตฌ์กฐ๋ฅผ ์œ ์ง€ํ•˜๋ฉด์„œ๋„ '์ˆ˜์ˆ˜๋ฃŒ 0%'์˜ ๊ฑฐ๋ž˜ ํ™˜๊ฒฝ์„ ๋งŒ๋“ค๊ณ  - ์ด๋ฅผ ๊ธฐ๋ฐ˜์œผ๋กœ ๋‹ค์–‘ํ•œ ๋ฆฌ์›Œ๋“œ ์„ค๊ณ„์™€ ์•ˆ์ •์ ์ธ ์œ ๋™์„ฑ ์ œ๊ณต์ด ๊ฐ€๋Šฅํ•ฉ๋‹ˆ๋‹ค ์•ž์œผ๋กœ๋„ ๋” ๋‚˜์€ ํŠธ๋ ˆ์ด๋”ฉ ๊ฒฝํ—˜์„ ์ œ๊ณต๋“œ๋ฆด ์ˆ˜ ์žˆ๋„๋ก ๊ณ„์† ๊ฐœ์„ ํ•ด ๋‚˜๊ฐ€๊ฒ ์Šต๋‹ˆ๋‹ค!
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์˜ค ๊ธ€๋ผ์ด๋”์— ์˜จ๋„ ํŒŒ์ด๋‚ธ์Šค์˜ ํ† ํฐํ™” ์ž์‚ฐ๋“ค์ด ์˜จ๋ณด๋”ฉ ๋๋„ค์š”. ์ด์ œ ํ…Œ์Šฌ๋ผ, ์—”๋น„๋””์•„ ๋“ฑ์— ํŽธํ•˜๊ฒŒ ํˆฌ์žํ•˜๊ณ  ํฌํŠธํด๋ฆฌ์˜ค๋ฅผ ๊ด€๋ฆฌํ•  ์ˆ˜ ์žˆ์Šต๋‹ˆ๋‹ค. ์ฃผ์‹๊นŒ์ง€ ์˜จ๋ณด๋”ฉ๋˜๋ฉด ํ™•์‹คํžˆ ๋ฉ”๋ฆฌํŠธ๊ฐ€ ์žˆ๊ฒ ๋„ค์š” @glider__
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๊ธ€๋ผ์ด๋”์—์„œ ๋ฒ ์ด์Šค์™€ ํ˜‘์—…ํ•ด์„œ 30์ผ ๋™์•ˆ ๋ฒ ์ด์Šค ํฌํŠธํด๋ฆฌ์˜ค์— 25% APY๋ฅผ ์ง€๊ธ‰ ํ•˜๊ณ  ์žˆ๋„ค์š” ๊ธ€๋ผ์ด๋”๋Š” ์ž๋™์œผ๋กœ ํฌํŠธํด๋ฆฌ์˜ค๋ฅผ ๊ด€๋ฆฌํ•ด์ฃผ๋Š” ๋””ํŒŒ์ด ํ”„๋กœํ† ์ฝœ์ž…๋‹ˆ๋‹ค. ๊ธ€๋ผ์ด๋”์˜ ๋ฒ ์ด์Šค ํฌํŠธํด๋ฆฌ์˜ค์— ์ž์‚ฐ์„ ์˜ˆ์น˜ํ•˜๋ฉด ๋น„ํŠธ์ฝ”์ธ, ์ด๋”๋ฆฌ์›€, ์†”๋ผ๋‚˜, ์—์–ด๋กœ๋“œ๋กฌ, ๋ชจํฌ, ๋ฒ„์ธ„์–ผ์— ๋ถ„์‚ฐ ํˆฌ์ž๋ฉ๋‹ˆ๋‹ค. @glider__
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Got back from a Denver business trip and finally started. Now Iโ€™m questioning my timing decisions. My brain is melting @Euphoria_fi
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Why are the withdrawal fees much higher than the deposit fees? @avon_xyz
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๋ฐ”์ด๋‚ธ์Šค SAFU์—์„œ ๋น„ํŠธ์ฝ”์ธ $100M์„ ๋งค์ˆ˜ํ–ˆ๋„ค์š” $100M ์‚ฟ๋Š”๋ฐ ๋ณ„๋กœ ์˜ค๋ฅด์ง€๋„ ์•Š๋Š”๊ฑฐ ๋ญ์ง€์š”
Binance SAFU Fund just bought 1,315 $BTC($100.7M). intel.arkm.com/explorer/addrโ€ฆ
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Recently, the APY of the @ostium vault has increased quite a bit and is currently around 52%. Ostium is an Arbitrum-based perpetual DEX that allows trading of forex, commodities, and stocks. It supports up to 100x leverage on Tesla, and as of yesterday, Netflix, Oracle, and Palantir have also been added to the list of supported trading pairs.
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This is a piece with many valuable insights, and I would recommend giving it a read when you have some time. Below is a brief summary of the parts that resonated most with me, written in my own words. @blocmates - We have long been waiting for the entry of institutions, and that shift is now clearly underway. Blockchain will structurally address inefficiencies in traditional industries and continue to drive broader growth across the ecosystem. - During the previous cycle, a massive amount of capital flowed into the crypto market. However, many projects focused on presenting compelling visions rather than proving real products and tangible results in the market. Today, market participants are far more mature, and simple narratives alone are no longer enough to persuade them. - In this context, it is likely that most tokens will either disappear or be absorbed into formal regulatory frameworks. - Going forward, only projects that generate real revenue are likely to survive. This is why services that directly connect with real-world usage โ€” particularly in payments and stablecoins โ€” deserve close attention. The blockchain market remains a genuinely fascinating space, but it is also true that many of us entered this market with the hope of achieving outsized returns. As the market matures, however, purely speculative opportunities are gradually diminishing. While it may feel a bit bittersweet, it now seems more rational to allocate more weight to structurally meaningful major assets and equities, rather than low-cap altcoins or meme coins, and to build a career at the intersection of Web2 and Web3.
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