0xResearch Blockworks

In this week's interview we have an in-depth discussion with Guy, the founder of Ethena Protocol. Guy discusses the challenges of scaling Ethena to billions in USD supply, the important role of Bitcoin and Ethereum derivatives as collateral, and how Ethena is able to generate the highest yielding USD-denominated asset in crypto. Additionally, we touch on risk management, governance, and the critical role centralized exchanges could play in Ethena's future. Hope you enjoy!
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Follow Guy: https://twitter.com/leptokurtic_
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Follow Ren: https://twitter.com/purplepill3m
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Wormhole is a decentralized interoperability platform powering multi-chain applications and bridges. It provides developers with access to liquidity and users on over 30 leading blockchain networks, enabling use cases in DeFi, data queries, and governance. The platform is trusted by teams like Uniswap and Circle and, to date, the platform has facilitated the transfer of over 35 billion dollars through over 850 million cross-chain messages.

Claim your unique Wormhole NFT at
https://wormhole.com/0xresearch8-4099
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Pear is an innovative pair-trading exchange built on top of SYMMIO. Users can trade trending narratives with one click, from bluechip narratives such as long BTC, short ETH, right through to WIF vs BONK. SYMMIO’s intent-centric architecture enables deep liquidity, sourced off-chain and brought on-chain, and combined with Pear, have democratized access to complex trading strategies typically reserved for institutional traders.

Start trading today at: https://www.pear.garden/
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Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful, custom blockchain solutions.

Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs.
Start building today at https://www.avax.network/
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Marinade is the leading Solana staking service that spreads your stake across 100+ top validators, distributes MEV rewards, and provides automatic downside protection with new Protected Staking Rewards.

Choose to liquid stake for mSOL for use in DeFi, or delegate your stake through Marinade Native, which gives you full custody of your SOL and no smart contract risk. Max performance for you, max performance for Solana.
https://blckwrks.co/Marinade
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Timestamps:
(0:00) Introduction
(6:03) Open Interest Constraint
(11:25) Negative Funding vs CEX Risks
(22:40) Wormhole Ad
(23:18) Pear Protocol Ad
(23:43) Marinade Ad
(24:22) Avalanche Ad
(25:04) Ethena BD & Partnerships
(29:05) ENA Incentives
(37:52) BTC Collateral & Real Yield
(42:54) sUSDe and USDe Usecases
(49:28) Protocol Owned Liquidity
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Check out Blockworks Research today! Research, data, governance, tokenomics, and models – now, all in one place

Blockworks Research: https://www.blockworksresearch.com/
Free Daily Newsletter: https://blockworks.co/newsletter
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Disclaimer: Nothing said on 0xResearch is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Dan, Sam, and our guests may hold positions in the companies, funds, or projects discussed.

In this episode the analysts kick things off by examining the Runes phenomenon on Bitcoin, debating whether it represents real innovation or just another trend. The conversation then shifts to the DePIN space, with a focus on Ionet's partnership to onboard 3000 high-performance GPUs. The hosts then turn their attention to Avalanche's rapid progress, including the Vryx breakthrough enabling 100K TPS. Stick around for all of this and much more!

As always remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice.
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Follow Boccaccio: https://twitter.com/tripleboccaccio
Follow Dan: https://twitter.com/smyyguy
Follow Ryan: https://twitter.com/_RyanRConnor
Follow EffortCapital: https://twitter.com/EffortCapital
Follow Blockworks Research: https://twitter.com/blockworksres

Subscribe on YouTube: https://bit.ly/3foDS38
Subscribe on Apple: https://apple.co/3SNhUEt
Subscribe on Spotify: https://spoti.fi/3NlP1hA

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
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Timestamps:
(0:00) Introduction
(1:12) Inside Runes Hype
(13:42) Ionet and Aether Partnership
(23:59) Scroll Sessions & L2 Incentives
(30:48) Layer Zero Segment: Tapioca DAO
(36:27) ZKasino Rug
(43:34) Wayfinder AI Agents
(59:18) Bull & Bear Case of Onchain AI
(1:01:31) Avalanche VRYX Parallel TX Pathing
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Check out Blockworks Research today! Research, data, governance, tokenomics, and models – now, all in one place

Blockworks Research: https://www.blockworksresearch.com/
Free Daily Newsletter: https://blockworks.co/newsletter
- -
Disclaimer: Nothing said on 0xResearch is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Dan, Sam, and our guests may hold positions in the companies, funds, or projects discussed.

In this interview, TN, the Co-founder and CEO of Pendle, discusses the protocol's journey from inception to its current state. He explains how Pendle enables users to tokenize and trade yield, focusing on the use cases of obtaining fixed rates and speculating on yield. TN shares insights on the protocol's growth, partnerships, and the impact of various narratives such as LRT and points trading. He also touches on user behavior changes, the decision to deploy on Arbitrum, and the roadmap for the future, including the development of Pendle V3 and the expansion of yield trading across different ecosystems.
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Follow TN: https://twitter.com/tn_pendle
Follow Sam: https://twitter.com/swmartin19
Follow Ren: https://twitter.com/purplepill3m
Follow Blockworks Research: https://twitter.com/blockworksres

Subscribe on YouTube: https://bit.ly/3foDS38
Subscribe on Apple: https://apple.co/3SNhUEt
Subscribe on Spotify: https://spoti.fi/3NlP1hA

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
- -
Wormhole is a decentralized interoperability platform powering multi-chain applications and bridges. It provides developers with access to liquidity and users on over 30 leading blockchain networks, enabling use cases in DeFi, data queries, and governance. The platform is trusted by teams like Uniswap and Circle and, to date, the platform has facilitated the transfer of over 35 billion dollars through over 850 million cross-chain messages.

Claim your unique Wormhole NFT at
https://wormhole.com/0xresearch7-2025
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Pear is an innovative pair-trading exchange built on top of SYMMIO. Users can trade trending narratives with one click, from bluechip narratives such as long BTC, short ETH, right through to WIF vs BONK. SYMMIO’s intent-centric architecture enables deep liquidity, sourced off-chain and brought on-chain, and combined with Pear, have democratized access to complex trading strategies typically reserved for institutional traders.

Start trading today at: https://www.pear.garden/
- -w
Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful, custom blockchain solutions.

Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs.
Start building today at https://www.avax.network/
- -
Marinade is the leading Solana staking service that spreads your stake across 100+ top validators, distributes MEV rewards, and provides automatic downside protection with new Protected Staking Rewards.

Choose to liquid stake for mSOL for use in DeFi, or delegate your stake through Marinade Native, which gives you full custody of your SOL and no smart contract risk. Max performance for you, max performance for Solana.
https://blckwrks.co/Marinade
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Timestamps:
(0:00) Introduction
(2:43) Pendle Overview & Journey
(9:23) Bullish or Bearish Eth Staking Yield
(19:39) Wormhole Ad
(20:17) Pear Ad
(20:42) Marinade Ad
(21:21) Avalanche Ad
(22:03) Revenue Generation
(29:02) Change of User Behaviors
(35:24) Why Arbitrum?
(40:42) Roadmap & 10 Year Vision
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Check out Blockworks Research today! Research, data, governance, tokenomics, and models – now, all in one place

Blockworks Research: https://www.blockworksresearch.com/
Free Daily Newsletter: https://blockworks.co/newsletter
- -
Disclaimer: Nothing said on 0xResearch is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Dan, Sam, and our guests may hold positions in the companies, funds, or projects discussed.

In this episode Dan, Ren, and Boccaccio dive deep into this week's biggest news. They discuss the launch of spot Bitcoin and Ethereum ETFs in Hong Kong, the upcoming tradability of the Parcel token, and the partnership between Aptos and Ionet. The team also discusses Monad's $225 million raise, Sui's gaming device, and the SEC's Wells notice to Uniswap Labs. To close out they cover the Tensor airdrop woes and the launch of EigenDA.

As always remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice.
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Follow Boccaccio: https://twitter.com/tripleboccaccio
Follow Dan: https://twitter.com/smyyguy
Follow Ren: https://twitter.com/purplepill3m
Follow Blockworks Research: https://twitter.com/blockworksres

Subscribe on YouTube: https://bit.ly/3foDS38
Subscribe on Apple: https://apple.co/3SNhUEt
Subscribe on Spotify: https://spoti.fi/3NlP1hA

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
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Timestamps:
(0:00) Introduction
(1:11) Parcel Token Launch
(5:14) Aptos & Ionet Partnership
(15:37) $225m Monad Raise & SUI Gaming Device
(28:05) Binance Lists TAO Spot
(31:10) dYdX Segment: Wintermute
(36:36) MarginFi's Meltdown
(47:25) SEC Uniswap Labs Wells Notice
(1:07:14) Tensor Airdrop Woes
(1:15:49) EigenDA Live
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Check out Blockworks Research today! Research, data, governance, tokenomics, and models – now, all in one place

Blockworks Research: https://www.blockworksresearch.com/
Free Daily Newsletter: https://blockworks.co/newsletter
- -
Disclaimer: Nothing said on 0xResearch is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Dan, Sam, and our guests may hold positions in the companies, funds, or projects discussed.

In this interview, Saneel Sreeni, the founding member of Ritual, dives deep into the intersection of AI and crypto. He explains the concept of AI co-processors and how Ritual aims to be a sovereign execution layer for AI, enabling applications to access AI models in a decentralized manner through stateful precompiles. Saneel unveils the benefits of on-chain AI and addresses the current landscape of crypto AI projects. The conversation touches on Ritual's partnership with Celestia for data availability and their collaboration with Eigenlayer for restaking AI. Lastly, Sunil shares details about Ritual's recent partnership with MyShell and their plans for the Infernet SDK and the upcoming Ritual Superchain. Thanks for tuning in!
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Follow Saneel: https://twitter.com/sanlsrni
Follow Sam: https://twitter.com/swmartin19
Follow Ren: https://twitter.com/purplepill3m
Follow Blockworks Research: https://twitter.com/blockworksres

Subscribe on YouTube: https://bit.ly/3foDS38
Subscribe on Apple: https://apple.co/3SNhUEt
Subscribe on Spotify: https://spoti.fi/3NlP1hA

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
- -
Wormhole is a decentralized interoperability platform powering multi-chain applications and bridges. It provides developers with access to liquidity and users on over 30 leading blockchain networks, enabling use cases in DeFi, data queries, and governance. The platform is trusted by teams like Uniswap and Circle and, to date, the platform has facilitated the transfer of over 35 billion dollars through over 850 million cross-chain messages.

Claim your unique Wormhole NFT at
https://wormhole.com/0xresearch5-5563
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Pear is an innovative pair-trading exchange built on top of SYMMIO. Users can trade trending narratives with one click, from bluechip narratives such as long BTC, short ETH, right through to WIF vs BONK. SYMMIO’s intent-centric architecture enables deep liquidity, sourced off-chain and brought on-chain, and combined with Pear, have democratized access to complex trading strategies typically reserved for institutional traders.

Start trading today at: https://www.pear.garden/
- -
Marinade is the leading Solana staking service that spreads your stake across 100+ top validators, distributes MEV rewards, and provides automatic downside protection with new Protected Staking Rewards.

Choose to liquid stake for mSOL for use in DeFi, or delegate your stake through Marinade Native, which gives you full custody of your SOL and no smart contract risk. Max performance for you, max performance for Solana.
https://blckwrks.co/Marinade
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Timestamps:
(0:00) Introduction
(2:21) What are Co-processors?
(7:34) Benefits of Onchain AI Stack
(11:52) What is Ritual?
(18:36) Wormhole Ad
(19:14) Pear Ad
(19:40) Marinade Ad
(20:18) Role of DA
(24:54) AI Inference
(27:30) Infernet SDK
(33:17) Interoperability Approach
(35:45) Crypto AI Landscape
(43:26) Actual Crypto & AI Usecases
(49:11) Restaking AI on EigenLayer
(58:17) Ritual Roadmap
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Check out Blockworks Research today! Research, data, governance, tokenomics, and models – now, all in one place

Blockworks Research: https://www.blockworksresearch.com/
Free Daily Newsletter: https://blockworks.co/newsletter
- -
Disclaimer: Nothing said on 0xResearch is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Dan, Sam, and our guests may hold positions in the companies, funds, or projects discussed.

In this episode, the Blockworks research team examines Solana's transaction failures and the network's ongoing struggles to handle high transaction volumes. The conversation then turns to the MakerDAO and Aave debacle, debating the risks and merits of MakerDAO's decision to collateralize DAI with Ethena's stablecoin. They also touch on the recent default on Goldfinch and the broader challenges facing on-chain private credit markets. Finally, they explore the rise of Pump.Fun and the resurgence of meme coins.

As always remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice.
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Follow Brick: https://twitter.com/0x___Brick
Follow Matt: https://twitter.com/MattFiebach
Follow Sam: https://twitter.com/swmartin19
Follow Ren: https://twitter.com/purplepill3m
Follow Blockworks Research: https://twitter.com/blockworksres

Subscribe on YouTube: https://bit.ly/3foDS38
Subscribe on Apple: https://apple.co/3SNhUEt
Subscribe on Spotify: https://spoti.fi/3NlP1hA

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
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https://x.com/_nishil_/status/1777048334664081548
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Timestamps:
(0:00) Introduction
(1:08) Enabling Arbitrum Stylus
(5:08) Velodrome DEX on Bitcoin
(7:40) Solana & SUI Airdrops
(13:39) dYdX Permissionless Smart Contracts
(18:15) dYdX Segment: Axelar
(22:53) Solana Transaction Failures
(31:57) Aave & MakerDAO Debacle
(43:37) Goldfinch Default
(51:43) Pump.Fun Meme Infrastructure
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Check out Blockworks Research today! Research, data, governance, tokenomics, and models – now, all in one place

Blockworks Research: https://www.blockworksresearch.com/
Free Daily Newsletter: https://blockworks.co/newsletter
- -
Disclaimer: Nothing said on 0xResearch is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Dan, Sam, and our guests may hold positions in the companies, funds, or projects discussed.