Ben Strack

<div id="highlights-block_6283a172153fa" class="highlights">
        <ul>
                <li>Alluvial’s founding team includes former executives at Figment, Kiln and Index Cooperative</li>
                <li>New protocol will require contributors to enable embedded KYC and AML checks</li>
            </ul>
    
</div>



<p>Crypto exchange Coinbase’s cloud division is working with Figment to support the founders and operators building what it calls the first enterprise-grade liquid staking protocol.&nbsp;</p>



<p>The news was revealed Tuesday during Blockworks’ <a href="https://cms.blockworks.co/events/permissionless/" target="_blank" rel="noreferrer noopener">Permissionless event</a> in West Palm Beach. Software development firm Alluvial is building the new protocol, which the company ultimately intends to be governed by a decentralized autonomous organization (DAO).&nbsp;</p>



<p>Liquid staking on Ethereum has grown from less than 1% market share in January 2021 to more than 30%, according to <a href="https://dune.com/hildobby/ETH2-Deposits" target="_blank" rel="noreferrer noopener">Dune Analytics data</a>.&nbsp;</p>



<p>“There has been growing demand amongst institutions and enterprises that want to access liquid staking but haven’t had a solution that meets compliance and security standards,” Coinbase Cloud Senior Manager Mara Schmiedt told Blockworks. “With Alluvial, we are enabling that access and are focused on unlocking the next wave of adoption and financial innovation in the space.&#8221;</p>



<p>Coinbase acquired blockchain infrastructure platform Bison Trails in January 2021 to become the foundational team and platform of <a href="https://www.coinbase.com/cloud" target="_blank" rel="noreferrer noopener">Coinbase Cloud</a>. The business offers Web3 application programming interfaces (APIs), services, and infrastructure for software builders.</p>



<p><a href="https://www.figment.io/" target="_blank" rel="noreferrer noopener">Figment</a> is focused on offering staking and application layer solutions for token holders and developers building on Web3 technology. The firm <a href="https://cms.blockworks.co/figment-closes-funding-round-at-1-4b-valuation/" target="_blank" rel="noreferrer noopener">raised $110 million</a> in a Series C round in December, bringing its post-money valuation to $1.4 billion.</p>



<p>Alluvial is led by Matt Leisinger, former head of liquid staking products at Figment; Nicolas Maurice, the former chief technology officer of staking-as-a-service platform Kiln; and Mike Taormina, former head of institutional business at the Index Cooperative.</p>



<p>Liquidity is key to unlock the next chapter of financial innovation in Web3, the companies said.</p>



<p>The non-custodial protocol will allow users to stake their tokens and receive receipt tokens that prove ownership of the staked tokens. They can then use those receipt tokens to participate in the broader Web3 economy.&nbsp;&nbsp;</p>



<p>It will require all contributors to enable embedded know your customer (KYC) and anti-money laundering (AML) checks.</p>



<p>Coinbase Cloud and Figment plan to perform staking services on the network and run validators with clients across regions and cloud providers. Other security-focused validator operators will be added to the protocol over time.</p>



<hr class="wp-block-separator">
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<hr class="wp-block-separator">


Coinbase Cloud, Figment Back New Liquid Staking Protocol

Garrett Harper


<p>On today&#8217;s episode of &#8220;<a href="https://www.youtube.com/watch?v=YL0zMCth_Lw&amp;ab_channel=BlockworksCrypto">Empire</a>,&#8221; Joe Lallouz, head of Coinbase Cloud, joins Jason and Santiago to discuss how Coinbase Cloud is building the AWS of crypto.</p>



<p>Coinbase Cloud is building blockchain infrastructure and APIs that abstract the complexities of staking, data access, deployment and more. Joe explains the challenges of building in crypto, how Coinbase Cloud is taking on this challenge, and why developer tooling is critical for rapid innovation.</p>



<p>Joe Lallouz, Jason and Santiago then discuss the importance of crypto&#8217;s low switching costs, proof-of-stake systems, Lido&#8217;s staking dominance, and Coinbase&#8217;s approach to MEV. Blockchain infrastructure isn&#8217;t the hot topic on crypto Twitter, but it&#8217;s the base layer of the entire ecosystem and will soon be a primary talking point. Don&#8217;t miss this fantastic conversation to stay ahead of the blockchain infrastructure narrative!</p>



<p>Plus, hear more on:</p>



<ul><li>Crypto&#8217;s bundling and unbundling </li><li>Developer SDKs</li><li>Staking derivatives</li><li><span style="color: initial;">And so much more!</span></li></ul>



<p>Check out what they had to say in the video below.👇</p>



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="The AWS Of Crypto | Joe Lallouz" width="1024" height="576" src="https://www.youtube.com/embed/YL0zMCth_Lw?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
</div></figure>



<h3><strong>About the show</strong></h3>



<p>&#8220;Empire&#8221; is a twice-a-week show where we share the real crypto stories that aren’t heard elsewhere. On Mondays, Jason and Santiago Santos interview crypto industry movers and shakers to talk about their struggles, bold moves and tough decisions. Finish off the week with Friday&#8217;s weekly roundup episode that covers the top news and narratives of the week.</p>



<p>For any NPR or Guy Raz fans out there, you can think of &#8220;Empire&#8221; as a &#8220;How I Built This&#8221; for the bitcoin and crypto industry.</p>



<p>Subscribe to &#8220;Empire&#8221; today on&nbsp;<a href="https://podcasts.apple.com/us/podcast/empire/id1554930038" target="_blank" rel="noreferrer noopener">Apple</a>&nbsp;or&nbsp;<a href="https://open.spotify.com/show/4UTePv1CR3APdKOiosR3Iq" target="_blank" rel="noreferrer noopener">Spotify</a>. Watch episodes on&nbsp;<a href="https://www.youtube.com/channel/UCEOv-8wHvYC6mzsY2Gm5WcQ" target="_blank" rel="noreferrer noopener">YouTube</a>.</p>



<hr class="wp-block-separator">
<p><strong>Get the day’s top crypto news and insights delivered to your email every evening.&nbsp;<a href="https://cms.blockworks.co/newsletter/?source=end" target="_blank" rel="noreferrer noopener">Subscribe to Blockworks’ free newsletter</a>&nbsp;now.</strong></p>
<br>
<p><strong>Want alpha sent directly to your inbox? Get degen trade ideas, governance updates, token performance, can’t-miss tweets and more from&nbsp;<a href="https://blockworks.co/newsletter/research" target="_blank" rel="noreferrer noopener">Blockworks Research&#8217;s Daily Debrief</a>.</strong></p>
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<p><strong>Can&#8217;t wait? Get our news the fastest way possible.&nbsp;<a href="https://t.me/blockworks_news" target="_blank" rel="noreferrer noopener">Join us on Telegram</a> and follow us on <a href="https://news.google.com/publications/CAAqBwgKMPyTxgswn6_dAw" target="_blank" rel="noreferrer noopener">Google News</a>.</strong></p>
<hr class="wp-block-separator">


Podcast: Coinbase – the AWS of Crypto | Joe Lallouz

Sam Martin

<div id="highlights-block_617725d07bf3f" class="highlights">
        <ul>
                <li>Bitwise released its outlook on DeFi, calling for Amazon-like disruption to the current financial system</li>
                <li>Coinbase Cloud aims to be the Amazon Web Services of digital asset infrastructure</li>
            </ul>
    
</div>



<p>Bitwise released its outlook on decentralized finance (DeFi) in <a href="https://s3.amazonaws.com/static.bitwiseinvestments.com/Research/Decentralized-Finance-DeFi-A-Primer-for-Professional-Investors-11-16-2021.pdf" target="_blank" rel="noreferrer noopener">a recently published report</a>.</p>



<p>DeFi provides anyone in the world with an internet connection and smartphone low-cost, high-speed, and instantaneously settled financial markets.</p>



<p>Borrowing and lending protocols, as well as decentralized exchanges (DEXs), currently make up a vast majority of DeFi activity, as regulation around the space remains largely uncertain.</p>



<p>Coinbase Cloud aims to be the Amazon Web Services of crypto by supporting digital asset infrastructure through its subsidiary, Bison Trails.</p>



<p>Ethereum NFTs are officially live on FTX US, <a href="https://twitter.com/Brett_FTXUS/status/1466075424010604547?s=20" target="_blank" rel="noreferrer noopener">according</a> to the company&#8217;s president, Brett Harrison.</p>



<h3><strong>Latest in Macro:</strong></h3>



<ul><li>S&amp;P 500: 4,513, -1.18%</li><li>NASDAQ: 15,254, -1.83%</li><li>Gold: $1,784, +0.46%</li><li>WTI Crude Oil: $65.48, -1.06%</li><li>10-Year Treasury: 1.405%, -0.036%</li></ul>



<h3><strong>Latest in Crypto:</strong></h3>



<ul><li>BTC: $56,666, -.63%</li><li>ETH: $4,546, -1.54%</li><li>ETH/BTC: 0.0800, -1.51%</li><li>BTC.D: 41.73%, +0.28%</li></ul>



<h3>DeFi versus TradFi</h3>



<p><a href="https://bitwiseinvestments.com" target="_blank" rel="noreferrer noopener">Bitwise</a> released a report titled <a href="https://s3.amazonaws.com/static.bitwiseinvestments.com/Research/Decentralized-Finance-DeFi-A-Primer-for-Professional-Investors-11-16-2021.pdf" target="_blank" rel="noreferrer noopener">&#8216;Decentralized Finance (DeFi): A Primer for Professional Investors&#8217;</a>, which notes that though many industries have been reshaped by digital technologies, finance has not. Though there have been improvements to the user experience through apps like Venmo or Cash App, it adds, the underlying infrastructure behind payments has remained stagnant for decades.</p>



<p>&#8220;DeFi replaces traditional financial intermediaries with software: self-executing &#8216;smart contracts,&#8217; secured by blockchain technology, allow innovators to reimagine everything from lending to trading, asset management, and more,&#8221; the executive summary of the <a href="https://s3.amazonaws.com/static.bitwiseinvestments.com/Research/Decentralized-Finance-DeFi-A-Primer-for-Professional-Investors-11-16-2021.pdf" target="_blank" rel="noreferrer noopener">report</a> states.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="488" src="https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Defi-1024x488.jpg" alt="" class="wp-image-12005" srcset="https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Defi-1024x488.jpg?w=1024 1024w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Defi-1024x488.jpg?w=300 300w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Defi-1024x488.jpg?w=768 768w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Defi-1024x488.jpg?w=428 428w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Defi-1024x488.jpg?w=470 470w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Defi-1024x488.jpg?w=389 389w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Defi-1024x488.jpg?w=80 80w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Defi-1024x488.jpg?w=1119 1119w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption>Source: Bitwise</figcaption></figure>



<h3>DeFi advantages</h3>



<ul><li>Lower cost and speed<ul><li>DeFi services are able to cut out the costs of middlemen (employees, offices, transaction fees, etc.) because they utilize public infrastructure (blockchains) that execute smart contracts on behalf of the users.</li></ul></li><li>Composability<ul><li>Innovation occurs much faster in DeFi because problems solved for one protocol may be applied to a different set of problems. </li></ul></li><li>Two-sided markets<ul><li>Just as Uber aligns the supply of willing drivers to the demand of potential passengers needing to get from point A to point B, DeFi connects liquidity providers looking for yield to traders willing to pay swap fees on an automated market maker, such as <a href="https://app.uniswap.org/#/swap" target="_blank" rel="noreferrer noopener">Uniswap</a>.</li></ul></li></ul>



<p>There are nearly 4 million users and more than <a href="https://s3.amazonaws.com/static.bitwiseinvestments.com/Research/Decentralized-Finance-DeFi-A-Primer-for-Professional-Investors-11-16-2021.pdf" target="_blank" rel="noreferrer noopener">$200 billion of assets</a> in DeFi protocols today. The main difference between most applications consumers use today and DeFi is the lack of a centralized authority behind them. This ensures that anyone with an internet connection is free to use any application they desire.</p>



<div class="wp-block-image"><figure class="aligncenter size-full"><img decoding="async" loading="lazy" width="945" height="867" src="https://blockworks-co.imgix.net/wp-content/uploads/2021/12/defi-eco.jpg" alt="" class="wp-image-12007" srcset="https://blockworks-co.imgix.net/wp-content/uploads/2021/12/defi-eco.jpg?w=945 945w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/defi-eco.jpg?w=300 300w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/defi-eco.jpg?w=768 768w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/defi-eco.jpg?w=280 280w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/defi-eco.jpg?w=284 284w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/defi-eco.jpg?w=239 239w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/defi-eco.jpg?w=80 80w" sizes="(max-width: 945px) 100vw, 945px" /><figcaption>Source: Bitwise</figcaption></figure></div>



<h3>Primary applications today</h3>



<p>Of the roughly <a href="https://defillama.com" target="_blank" rel="noreferrer noopener">$280 billion of total value locked</a> in DeFi protocols, a vast majority of the liquidity revolves around two product markets: borrowing and lending protocols, and decentralized exchanges, according to DeFi Llama data.</p>



<h4>Borrowing and Lending</h4>



<p><a href="https://app.aave.com/#/markets" target="_blank" rel="noreferrer noopener">Aave</a>, which boasts more than $16 billion of liquidity, enables participants to lend out their assets in exchange for passive income. Borrowers can lock up collateral to take out loans at various annualized rates.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="823" src="https://blockworks-co.imgix.net/wp-content/uploads/2021/12/aave-1024x823.jpg" alt="" class="wp-image-12013" srcset="https://blockworks-co.imgix.net/wp-content/uploads/2021/12/aave-1024x823.jpg?w=1024 1024w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/aave-1024x823.jpg?w=300 300w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/aave-1024x823.jpg?w=768 768w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/aave-1024x823.jpg?w=1536 1536w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/aave-1024x823.jpg?w=2048 2048w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/aave-1024x823.jpg?w=320 320w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/aave-1024x823.jpg?w=325 325w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/aave-1024x823.jpg?w=272 272w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/aave-1024x823.jpg?w=80 80w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption>Source: Bitwise</figcaption></figure>



<h4>DEXs</h4>



<p>Network participants are able to provide liquidity via asset pairs to a DEX in exchange for rewards that come in the form of swap fees generated and liquidity provider incentives. DEXs are similar to a brokerage account or the New York Stock Exchange, except they are run by self-executing smart contracts.</p>



<p>Today Uniswap, one of the largest DEXs built on top of Ethereum, has trading volumes that rival those seen by centralized crypto exchanges such as FTX and Coinbase.</p>



<div class="wp-block-image"><figure class="aligncenter size-large"><img decoding="async" loading="lazy" width="1024" height="570" src="https://blockworks-co.imgix.net/wp-content/uploads/2021/12/uni-1024x570.jpg" alt="" class="wp-image-12011" srcset="https://blockworks-co.imgix.net/wp-content/uploads/2021/12/uni-1024x570.jpg?w=1024 1024w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/uni-1024x570.jpg?w=300 300w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/uni-1024x570.jpg?w=768 768w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/uni-1024x570.jpg?w=428 428w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/uni-1024x570.jpg?w=470 470w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/uni-1024x570.jpg?w=389 389w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/uni-1024x570.jpg?w=80 80w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/uni-1024x570.jpg?w=1460 1460w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption>Source: Bitwise</figcaption></figure></div>



<h3>Threats</h3>



<p>&#8220;JPMorgan, the world&#8217;s largest bank, boasts a market cap of [about] $508 billion, more than 3x the combined value of all DeFi apps combined,&#8221; Bitwise Research Analyst Ryan Rassmusan <a href="https://twitter.com/RasterlyRock/status/1461406941004115969?s=20" target="_blank" rel="noreferrer noopener">said</a> in a Nov. 18 Twitter post. &#8220;DeFi is tiny compared to the size of the industry that it aims to disrupt: [less than] 1% of the $24 [trillion] legacy finance market.&#8221;</p>



<p>The President&#8217;s Working Group on Financial Markets, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency recently released a <a href="https://home.treasury.gov/system/files/136/StableCoinReport_Nov1_508.pdf" target="_blank" rel="noreferrer noopener">report</a> on stablecoins and the need to regulate them. Lyn Alden, founder of Lyn Alden Investment Strategy, <a href="https://twitter.com/LynAldenContact/status/1465375630556553228?s=20" target="_blank" rel="noreferrer noopener">recently</a> pointed out that the fate of DeFi is in large part decided by centralized stablecoin issuers such as Tether and Circle, which are subject to the US&#8217;s jurisdiction.</p>



<p>The Fed <a href="https://www.federalreserve.gov/newsevents/pressreleases/bcreg20211123a.htm" target="_blank" rel="noreferrer noopener">stated</a> earlier this week that it would issue guidance for crypto regulation in the first half of 2022, which could prove to have a negative effect on the digital asset space during a time that coincides with <a href="https://cms.blockworks.co/powell-we-can-retire-the-term-transitory-inflation/" target="_blank" rel="noreferrer noopener">tighter monetary policy</a>.</p>



<p>SEC Chairman Gary Gensler <a href="https://cms.blockworks.co/gensler-says-centralized-regulation-is-path-for-crypto/" target="_blank" rel="noreferrer noopener">said today</a> that further enforcement against DeFi protocols is coming sooner rather than later.</p>



<h3>Coinbase Cloud</h3>



<p>&#8220;We&#8217;ve deployed 60,000 nodes that run your favourite crypto applications without interruptions and support over $30 [billion] assets staked to secure the world&#8217;s leading blockchain networks,&#8221; <a href="https://twitter.com/maraschmiedt/status/1466067585968054273?s=21">wrote</a> Mara Schmiedt, business and corporate development manager at Coinbase. </p>



<p>Coinbase is aiming to become the Amazon Web Services of crypto, Coinbase Chief Product Officer Surojit Chatterjee told <a href="https://www.forbes.com/sites/stevenehrlich/2021/12/01/inside-coinbases-budding-plan-to-become-the-aws-of-crypto/?sh=224091c7415c" target="_blank" rel="noreferrer noopener">Forbes</a>, making decentralized applications easier to launch through their product line at <a href="https://bisontrails.co">Bison Trails</a>. While there are other competitors in the infrastructure space, no other exchange in the US boasts more than 73 million verified users to leverage.</p>



<p>Ali Yahya, a general partner at a16z, compared Coinbase&#8217;s full suite of offerings to &#8220;just read/write infrastructure, which is what Alchemy does,&#8221; according to the Forbes article.</p>



<p>&#8220;All of the other products and services that Coinbase uniquely can bring to developers such as trading, fiat on-ramps, we offer a single place for people to build the full end-to-end experience that really doesn&#8217;t exist today,” he added.</p>



<h3>Non-Fungible Tokens (NFTs)</h3>



<p>Ethereum NFTs are officially live on FTX US, <a href="https://twitter.com/Brett_FTXUS/status/1466075424010604547?s=20" target="_blank" rel="noreferrer noopener">according</a> to Brett Harrison, the company&#8217;s president. Industry participants are unsure how the increased competition in secondary marketplaces for NFTs will affect OpenSea&#8217;s historically dominant marketshare.</p>



<p>Trading data from <a href="https://opensea.io/rankings" target="_blank" rel="noreferrer noopener">OpenSea</a> and <a href="https://solanalysis.com" target="_blank" rel="noreferrer noopener">Solanalysis</a> of some of the top Solana and Ethereum projects can be found below:</p>



<div class="wp-block-image"><figure class="aligncenter size-large"><img decoding="async" loading="lazy" width="1024" height="329" src="https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Screen-Shot-2021-12-01-at-3.49.32-PM-1024x329.png" alt="" class="wp-image-12015" srcset="https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Screen-Shot-2021-12-01-at-3.49.32-PM-1024x329.png?w=1024 1024w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Screen-Shot-2021-12-01-at-3.49.32-PM-1024x329.png?w=300 300w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Screen-Shot-2021-12-01-at-3.49.32-PM-1024x329.png?w=768 768w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Screen-Shot-2021-12-01-at-3.49.32-PM-1024x329.png?w=428 428w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Screen-Shot-2021-12-01-at-3.49.32-PM-1024x329.png?w=470 470w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Screen-Shot-2021-12-01-at-3.49.32-PM-1024x329.png?w=389 389w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Screen-Shot-2021-12-01-at-3.49.32-PM-1024x329.png?w=80 80w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Screen-Shot-2021-12-01-at-3.49.32-PM-1024x329.png?w=1227 1227w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption>Top Ethereum Projects</figcaption></figure></div>



<div class="wp-block-image"><figure class="aligncenter size-large"><img decoding="async" loading="lazy" width="1024" height="285" src="https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Screen-Shot-2021-12-01-at-3.49.41-PM-1024x285.png" alt="" class="wp-image-12016" srcset="https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Screen-Shot-2021-12-01-at-3.49.41-PM-1024x285.png?w=1024 1024w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Screen-Shot-2021-12-01-at-3.49.41-PM-1024x285.png?w=300 300w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Screen-Shot-2021-12-01-at-3.49.41-PM-1024x285.png?w=768 768w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Screen-Shot-2021-12-01-at-3.49.41-PM-1024x285.png?w=428 428w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Screen-Shot-2021-12-01-at-3.49.41-PM-1024x285.png?w=470 470w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Screen-Shot-2021-12-01-at-3.49.41-PM-1024x285.png?w=389 389w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Screen-Shot-2021-12-01-at-3.49.41-PM-1024x285.png?w=80 80w, https://blockworks-co.imgix.net/wp-content/uploads/2021/12/Screen-Shot-2021-12-01-at-3.49.41-PM-1024x285.png?w=1200 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption>Top Solana Projects </figcaption></figure></div>



<p>If you made it this far, thanks for reading! I am looking forward to catching up tomorrow.</p>



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