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Found 95 news

  • Next Generation CLOBs - Rethinking Endgame DEX Design
    Messari.io - 13:45 May 23, 2025
    Onchain CLOBs represent the optimal DEX architecture for capital efficiency, price discovery, and scalability, consistently outperforming AMMs, Peer-to-Pool models, and RFQ systems in more mature trading environments. Historically, their adoption onchain has been limited by latency and cost constraints, but those hurdles are now being steadily overcome through advances in blockchain infrastructure. The current CLOB landscape is expanding rapidly, with new teams exploring different tradeoff profiles in the race to build the next standout alternative CLOB. With a massive addressable market that includes both onchain spot volumes and, eventually, centralized exchange liquidity, the opportunity for onchain CLOBs has never been more compelling.
  • State of io.net Q1 2025
    Messari.io - 13:00 May 23, 2025
    While the broader crypto market saw declines with BTC and ETH market caps falling 11.4% and 45.2% QoQ; io.net posted mixed results. Revenue rose 82.6% QoQ to $5.7 million; however, IO’s market cap fell 71.4% due to a 74.9% drop in price. Daily verified GPU and CPU counts declined 11.1% and 4.5%, respectively, and BC8.AI inference activity dropped 66.7%. Despite these trends, io.net made steady ecosystem progress, announcing various integrations including Nesa, Allora, and Filecoin, while also achieving SOC 2 compliance.
  • Understanding Akash: A Comprehensive Overview
    Messari.io - 12:50 May 23, 2025
    Akash Network presents a decentralized alternative to the highly concentrated cloud computing market dominated by a few large providers. By leveraging underutilized compute resources through a permissionless marketplace, Akash enables cost-effective, scalable, and flexible infrastructure for a range of applications including AI, data processing, and decentralized services. Since its launch, Akash has expanded its capabilities to support GPU workloads, integrated with a growing number of ecosystem partners, and introduced key upgrades aimed at improving usability and performance. With over $3.1 million in cumulative revenue and an active developer and governance community, the network is steadily progressing toward broader adoption. Upcoming features, such as verifiable compute, fiat payments, managed service marketplaces, and onchain provider incentives; highlight Akash’s continued focus on infrastructure reliability, accessibility, and long-term sustainability in the decentralized cloud space.
  • InfoFi: Emerging Speculation Markets
    Messari.io - 16:15 May 22, 2025
    Information Finance (InfoFi) is an emerging category of applications that create tradable markets around exotic, non-price signals. Polymarket laid the groundwork with event-driven prediction markets, while newer applications like Noise, Ethos, and Narrative are pushing the boundaries with markets for mindshare, credibility, and quantitative metrics. Together, these projects highlight a shift from speculation as entertainment to speculation as a mechanism for real-time information discovery.
    Tags: InfoFi
  • State Of Manta Q1 2025
    Messari.io - 14:00 May 22, 2025
    In Q1 2025, Manta Network’s market cap fell 70.3% to $91.7 million, while MANTA’s price declined 72% to $0.22. Despite a broader drop in activity, protocol revenue rose 19.1% QoQ to $252,600, reversing a three-quarter decline. DeFi TVL dropped 73% to $17.5 million, and stablecoin market cap fell 7.3% to $11.2 million. Manta Pacific integrated Symbiotic and Babylon to launch a dual-layer fast finality system, and the team announced the deprecation of Manta Atlantic, consolidating operations on Manta Pacific. CeDeFi maintained $117.7 million in TVL, and ecosystem growth continued with the launch of the Trophy Room and integrations with DAR ID and Entangle.
  • State of GoPlus Q1 2025
    Messari.io - 14:00 May 22, 2025
    In Q1 2025, GoPlus ended the quarter with a circulating market cap of $46.1 million and a 60.3% decline in token price since launch. Ecosystem profit rose 373.7% QoQ to $982,521, while blockchain request volume increased across Solana (31.1%), Base (28.7%), Avalanche (11.6%), and BNB Chain (6.4%). Conversely, key offchain activity metrics declined, including API query volume (-9.8%), unique IPs (-47.7%), and active SecHubs (-47.2%). The quarter also included the release of GPS tokenomics, a new 2025 roadmap prioritizing AI and decentralized security infrastructure, the launch of Locker v3, and responses to post-listing concerns with a $2M user compensation plan and a $4.34M buyback.
    Tags: GoPlus
  • Agoric: The cross-chain orchestration engine
    Messari.io - 13:15 May 22, 2025
    Agoric is building a developer-focused platform for multichain smart contract execution, designed to simplify cross-chain development through familiar JavaScript tooling and a secure execution environment. Its Orchestration SDK enables smart contracts to coordinate operations across multiple blockchains, including account creation, asset transfers, and interactions with remote modules. This functionality is already live in production through applications like Fast USDC, which shortens cross-chain USDC transfer times and improves the user experience.
    Tags: Agoric
  • UXLINK: Building the Social Growth Layer for Web3
    Messari.io - 16:00 May 21, 2025
    UXLINK is a SocialFi infrastructure project that aims to make Web3 more accessible by reducing technical barriers. It simplifies onboarding, identity management, and user interaction across networks. At the core of its system is the Social Growth Layer, which connects Web2 and Web3 through account abstraction and social coordination tools. This includes the UXLINK ONE Chain, the One Account One Gas protocol, and a range of Social Growth protocols. UXLINK also integrates AI agents to help automate tasks such as community engagement and user support.
    Tags: Web3 UXLINK Social Growth Layer
  • State of Pyth Q1 2025
    Messari.io - 14:00 May 21, 2025
    In Q1 2025, Pyth recorded $149.1 billion in Total Transaction Value (TTV), down 14.9% from the previous quarter but up 376.6% year-over-year. Total Value Secured (TVS) declined 3.0% to $7.15 billion, the smallest drop among major oracles. Price updates fell 78.3% to 78.7 million, driven by reduced DeFi activity and throttled sponsored feeds. Aptos remained the top chain with 60.1 million updates, while Solana increased to 19.6 million. Berachain and Sonic were newly added, contributing 9.8 million and 4.5 million updates, respectively. Pyth Entropy processed 1.62 million requests, up 479.4% quarter-over-quarter, generating $32,785 in revenue. Oracle Integrity Staking grew substantially, with PYTH staked rising 176.4% to 638.7 million tokens. On Solana, Express Relay facilitated $171 million in limit order volume on Kamino, with searcher tips paid to users reaching approximately $95,000, up 855% from the prior quarter.
    Tags: Pyth
  • State of Cardano Q1 2025
    Messari.io - 12:30 May 21, 2025
    Cardano's performance in Q1 2025 reflected a network in transition against a challenging market backdrop. ADA's market cap declined 21% QoQ to $23.8 billion as the token price fell 22% to $0.66, largely tracking the broader 19% decline in total crypto market cap. Network activity showed reduced engagement with quarterly fee revenue dropping 32% to $1.2 million while average daily transactions fell 28% to 71,500. Notably, despite price volatility, staking commitment remained stable with total staked ADA decreasing only 1% to 21.6 billion, underscoring continued long-term holder conviction. Ecosystem metrics revealed divergent trends, with DeFi TVL contracting 29% QoQ to $319.3 million (compared to a 17% industry average decline). In comparison, the stablecoin market cap expanded 30% to $30.1 million, driven by fiat-backed options like USDM and USDA. The Plomin Upgrade, enacted via CIP-1694, empowered 1,220 DReps to drive trustless governance, marking a historic milestone. With Ouroboros Leios poised to reduce ...
  • State of XRP Ledger Q1 2025
    Messari.io - 15:00 May 20, 2025
    XRP’s market capitalization increased 2% QoQ, significantly outperforming the combined market capitalization of BTC, ETH, and SOL, which declined by 22% QoQ. The XRPL EVM Sidechain went live on testnet on March 31 and is scheduled for mainnet launch in Q2. Separately, a timeline has been released to introduce native smart contracts on the XRPL. The first step in this effort is the introduction of Extensions, a feature that allows developers to attach code to existing XRPL primitives to enhance their functionality without entirely new smart contracts. An amendment to enable Smart Escrows (the first Extension) is intended in Q3, while a full Smart Contract devnet is intended in Q4.
  • State of Ronin Q1 2025
    Messari.io - 13:05 May 20, 2025
    In Q1 2025, Ronin executed a pivotal transition to a permissionless architecture, enabling open smart contract deployment and catalyzing a sharp increase in developer activity. Key ecosystem highlights included OpenSea’s integration, the explosive debut of Tama Meme, and the $21M Fableborne presale. While financial and usage metrics declined QoQ amid market headwinds, native DeFi TVL increased and infrastructure upgrades like the Cerastes hardfork and Ronin Developer Console laid the groundwork for long-term scalability. With $23M in capital programs launched and several new game deployments, Ronin is positioning itself as a broader platform for gaming, DeFi, and consumer apps.
    Tags: Ronin
  • State of Marinade Q1 2025
    Messari.io - 14:00 May 19, 2025
    Marinade generated $3.6 million in revenue in Q1’25, up 328% YoY and 18% QoQ, driven primarily by validator bidding activity through the Stake Auction Marketplace (SAM). Marinade Native added 1.2 million SOL in TVL, growing 38.6% QoQ, as demand shifted away from liquid staking and toward native staking products with institutional-grade features. Meanwhile, Marinade’s liquid staking market share fell to 11.3% as competition from Jito and Binance intensified across Solana’s LST sector.
    Tags: Marinade
  • State of Solana Q1 2025
    Messari.io - 18:01 May 16, 2025
    In Q1 2025, DeFi TVL decreased 64% QoQ to $6.6 billion, though TVL (SOL) rose 18%, maintaining Solana’s rank as the second-largest network by DeFi TVL. Chain GDP increased 20% QoQ as applications earned $1.2 billion, driven largely by speculative activity in January during the TRUMP token craze. DeFi saw an extremely active quarter as average daily DEX volume (USD) increased 40.8% QoQ to $4.6 billion, and the stablecoin market cap increased 145.2% to $12.5 billion. Network usage saw mixed results as average daily non-vote transactions grew 17% QoQ, while average daily fee payers declined 22%. The liquid staking rate increased from 9.1% to 10.4%, led by continued growth in Jito’s jitoSOL product. Infrastructure developments included the widespread adoption of the Agave V2.0 client and early mainnet deployment of Firedancer components. Governance votes on reward distribution and inflation mechanisms reflected increased stakeholder participation. Financially, SOL’s market cap fell 30% QoQ to $64 billion. Externa...
    Tags: Solana
  • DePIN Tokenomics Part 3: What Drives Valuations? DRNs vs. PRNs, Fundamentals, Liquidity Premiums, Scalability, and More
    Messari.io - 15:39 May 16, 2025
    In Part 3 of our DePIN Tokenomics series, we dissect the structural drivers shaping valuations across DePIN protocols. By comparing Digital Resource Networks (DRNs) and Physical Resource Networks (PRNs), we explore how fundamentals like revenue generation, capital intensity, and scalability models contribute to valuation gaps between the two categories. However, our analysis reveals that liquidity access, particularly via major centralized exchange listing, often plays an even more decisive role, driving valuation premiums that cannot be fully explained by fundamentals alone. This report provides a framework for understanding how these dynamics interact and offers key insights for founders and investors navigating the evolving DePIN landscape.
    Tags: PRNs DRNs
  • Subnet 14: TAO Hash
    Messari.io - 12:30 May 16, 2025
    Bitcoin mining has morphed into a capital‑intensive, highly concentrated business: two pools—Foundry USA and AntPool—now command more than half of global hashrate, and a handful of public mega‑miners dominate the rest. Subnet 14, TAOHash, offers a counterweight by turning raw hash into a live‑traded “alpha” token; miners swap their BTC payouts for SN14, while validators buy that same token with earned BTC to keep rigs pointed at them, creating a perpetual buy‑back loop. In just weeks this mechanism bootstrapped ~6 EH/s (≈0.7 % of the network) with zero capex, effectively making SN14 a perpetual futures market for hashrate. Planned upgrades—running its own solo‑pool, routing multi‑coin hash, and selling block‑space priority fees—aim to undercut traditional FPPS fees and funnel extra revenue into further alpha demand. TAOHash thus illustrates how Bittensor’s incentive rails can redirect compute away from entrenched centers, pricing it in real‑time tokens and potentially restoring decentralization to Bitcoin’s s...
    Tags: Subnet
  • Internet Capital Markets: The Next Big Thing?
    Messari.io - 21:00 May 15, 2025
    nternet capital markets are reshaping how value is created and exchanged online, with platforms like Believe enabling anyone to tokenize ideas, products, or communities. While the model has sparked explosive growth and cultural relevance, it remains contentious—hailed by some as a new frontier in capital formation and dismissed by others as thinly veiled speculation. The future of the trend will hinge on whether projects can deliver lasting utility and economic sustainability beyond early hype.
  • State of Phala Q1 2025
    Messari.io - 14:30 May 15, 2025
    Q1 2025 was a foundational quarter for Phala Network, marked by the launch of Phala 2.0 on Ethereum and the rollout of Phala Cloud. These developments transitioned the network from a Polkadot parachain-based model to an Ethereum Layer-2 that enables access to TEE-based computation. With over 1,000 Confidential Virtual Machines deployed, Phala demonstrated early product-market fit among teams building AI agents and privacy-sensitive applications. The network also grew operationally, with a 72.2% increase in Phala Worker Nodes and a 23.2% rise in delegators following the sunset of Khala. Partnership momentum continued across agent frameworks, security protocols, and GPU-backed computing. Notable integrations — including GoPlus, xNomadAI, NOTAI, and Fairblock — showcased how Phala’s TEE infrastructure can support verifiable offchain agents and private computation at scale. With the new Ethereum-based rollup and hardware-aligned architecture, Phala is positioned to serve as a foundational layer for confidential A...
    Tags: Phala
  • State of Hedera Q1 2025
    Messari.io - 13:15 May 15, 2025
    Hedera closed Q1 with steady network usage and development progress, despite a 32.9% QoQ drop in market cap to $6.9 billion. HBAR’s market cap rank among all cryptocurrencies held steady QoQ at 18. Average daily transactions rose 25.8% QoQ to 708,500, driven by a 103.6% increase in Hedera’s Crypto Service activity, while average daily DEX volumes remained at $10.8 million for the second quarter in a row. Hedera’s stablecoin market cap nearly doubled to $72.6 million, led by natively issued USDC. DeFi TVL fell 41.7% to $97.1 million due to HBAR’s price drop. Development remained active, with major upgrades like HIP-755 and HIP-756 enhancing smart contract capabilities. Hedera also advanced decentralization efforts by joining the Linux Foundation’s open-source governance framework. Karate Combat saw a 35% QoQ increase in activity, with 90% of KARATE token usage occurring on Hedera. Overall, Hedera demonstrated ecosystem resilience, network growth, and strong developer momentum amid broader market challenges.
    Tags: Hedera
  • DeCharge Network: Decentralizing EV Charging
    Messari.io - 12:50 May 15, 2025
    DeCharge is building a decentralized EV charging network that enables individuals and small businesses to host internet-connected chargers and earn usage-based and tokenized rewards. The system integrates blockchain coordination, geospatial deployment tools, and incentive mechanisms to expand infrastructure access, particularly in underserved regions. Backed by a $2.5 million seed round led by Lemniscap in March 2025, DeCharge has formed partnerships with DePHY and GEODNET and is exploring the use of microchain infrastructure (e.g., Linera) to support high-frequency data processing. Early deployments have logged over 1.3 million charging minutes and have begun to validate the network’s incentive design and ROI model for node operators. Looking ahead, DeCharge plans to scale its charger network, launch a second-generation AC unit with integrated energy storage, and introduce its native token to support a peer-to-peer energy marketplace.

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