The #1 “MOON ALTCOIN” That’s Still Undiscovered!?

Why do I love Ethereum!? Well based on economic performance, it should
be the #1 blockchain. As the dapps, that inhabit it…are just straight
up dominating the other chains. So are you ready for my breaker of Chains? Well I ain't no Daenerys Targaryen, but it
is time for Chico Crypto! Crypto Fees, shows that the Ether blockchain
produced over 27 million in fees for the miners, 24 hours yesterday. Next highest competitor is Bitcoin, which
is only pushing over 9 million. Since these are both proof of work blockchains,
this basically means Ethererum has 3x the level of economic activity that BTC…. Thus, pullins out the BTC dominance chart
over the markets, in relation to Ethereum..we can see, things don’t make sense just based
on this statistic. A wide gap sits between the two… to be exact,
a 42 percent gap between dominance levels to this day…BTC at about 54% & ETH is about
12%… Last bull run, in the middle of 2017…this
gap came close to closing. BTC at about 38 percent dominance, while ETH
was at about 31 percent. Just 7 percent sat in between the two. And ETH gave it another try, a flip at the
end of 2017 beginning of 2018.

What was the reason for this? Ethereum pushing up and eating into BTCs dominance
like that. Well back in 2017, it was called ICOs. Ethereum was the place to launch a new crypto
project called an ICO back in 2017 due to the erc20 standard. As we can see, in 2017, ICO funding bubbled
like MAD, started going crazy in the middle of 2017, making years past look like peanuts
and then peaking at the end of the year, 2017. At its peak, ICO funding reached over 1 billion
in 1 month, December 2017.

And this was majority, all on top of Ethereum,
basically non on top of BTC, as it didn’t have a token contract like erc20. These stats, this narrative helped Ethereum
reach that dominance peak…. ICO fever then is so similar to the DeFi,
NFT & Finance 2.0 sickness we see today. ICO funding at the 2017 peak was just over
1 billion in 1 month. Going back to crypto Fees, of course today,
Ethereum’s base protocol is pushing out over 27 million in a single day, but it’s
top DeFi application, Uniswap, is also pushing out over 4 million per day alone. Now 27 million multiplied by the days in a
month gives us 837 million, in a month. Let just add on a single top DeFi application
to that number. Uniswap. 4 million times 31, gives us 124 million. 837 million, plus 124…gives us right around
that 1 billion number. The DeFi sickness over a month today, is just
as bad as ICO fever back in 2017 Sooo, in my opinion, Ethereum hasn’t even
begun it’s RUN into BTCs dominance, as the next highest fee paying dapp or blockchain,
on cryptofees is all ethereum dapps, compound, sushi, aave, bancor, balancer, REN… But…Uniswap, Uniswap, Uniswap….producing
the 3rd largest amount of economic activity, yet if you go to Coingecko.

It’s ranked out of the top 10, falling to
number 11. Cryptofees has Uniswap at over 4 million per
day, do those that rank higher on gecko, rank higher in economic activity. Oh hell nah, cryptofees lists each. Uniswap outdoes rank #10 Bitcoin Cash, and
rank #9 litecoin, by extremely large margins. Uniswap also outdoes rank #8 Polkadot, and
rank #7 Cardano, be about the same margins. And #6 doge, #4 xrp, and #3 binance chain?? Pretty much just as bad…Uniswap dominating
by blistering numbers. I see a major imbalance there, and I hope
the markets do too. But regarding Uniswap, I’ve noticed the
value being traded through it each day, last year last summer, 24 hour trading volumes
were in the millions…but as that year came to a close, and throughout 2021, Uniswap is
pushing billions of value through the protocol each day.

Billions of dollars of value, being captured
through Uniswap each day. Which just might steadily increase into the
10s of billion with version 3 of the platform. 16 days now, just 16 days until v3 drops on
the Ethereum mainnet. Everyone knows the blog they dropped, last
month which included the whitepaper. I’ve had some time to digest it, & it reveals
a lot, but leaves many questions unanswered. What it reveals is, exactly what the whitepaper
says “Uniswap v3 provides increased capital efficiency and fine-tuned control to liquidity
providers, improves the accuracy and convenience of the price oracle, and has a more flexible
fee structure. And then the introduction says this “gives
liquidity providers more control over the price ranges in which their capital is used,
with limited effect on liquidity fragmentation and gas inefficiency” What they are saying is these changes, are
not going to affect gas prices on the mainnet in any negative way. Increase them….But they don’t say anything
about positive changes? Like reduction in gas prices.

That is absent front he whitepaper as well
as the v3 blog. So, no reduction, if things stay the same,
Users of the swap still could just be paying over 55 dollars for a transaction come may
5th? What the freak? What gives? Well hodl your horses, that may not be true
& v3 could be seeing some downright astonishing things. Going back to the v3 whitepaper, they show
the authors, which of course includes founder Hayden..but also a Moody Salem.

Now Uniswap v3, has the core contracts, which
are described in that whitepaper and blog… but it also contains the periphery contracts,
which are going to allow it to do, many other things. The github for the periphery is open, describing
them and showing who is contributing. Going to insights on these contracts, we can
see the #1 contributor is Moody Salem, from the core whitepaper. Ok, he’s the leader of periphery. Now within a github, a good place for research,
is issues. As it shows what’s being trialed & errored,
of code aka…what ‘s possibly coming next with protocols. As we can see from the issues, there is one
called gasless swaps & mints.

Clicking into it, it was opened by none other
than Moody Salem. As we can see, this took place on March 3rd. What did Moody tweet that same day!? He mysteriously tweeted out that smart contract
DEVs should be aware of a code pattern, in the absence of batched transactions, Linking
to an EIP 2711, which is to implement just those. Batched transactions are for gas savings… Well that batched EIP isn’t passed, and
there is actually a new front runner taking its place and being discussed EIP 3074. Just discussions though, all that means, is
batched transactions won’t be ready in a couple weeks, by the time Uniswap v3 goes
live. But you wanna know what is ready? Not batched, but bundled transactions from
Flashbots. The github for these is open, within Flashbots
but they are described within the flashbots PM, under alpha. They say “ On Jan 6th 2021, we entered the
Flashbots Alpha phase by establishing a proof-of-concept communication channel between traders (searchers)
and miners. This proof-of-concept is made of two components:
MEV-Geth, a slightly modified fork of the Ethereum Geth client, and MEV-Relay, a transaction
bundle relayer.

Then the first step of how it works says “How
it works:Searchers send Flashbots "bundles" to MEV-Relay. A bundle contains:
one or several transactions that can be the searcher's and/or other users' pending transactions
from the mempool a sealed tip that is paid by the searcher
to the miner via a smart contract call Now, March 12th…9 days after Moody posted
within github about gasless swaps & mints for Uniswap v3…someone tweeted something
very telling in my opinion. An Alex Manuskin, said “Flashbots gives
you superpowers! Here's a cool trick of "gasless" transactions
made possible by flashbots bundles. In this case: Swap ERC20 for ETH without owning
any ETH”…. And at the bottom he shouts out, those he
could haven’t accomplished this without…many interesting characters. Number 1…thegostep, Stephane Gosselin of
Flashbots and Alchemist Coin. Number 2… Phil Daian, who we only know as Flashbots,
but then 2 more people we should focus on. Tzhen, Tina Zhen & Gakonst, Goeorgious Konstantopolous… Why? Well they are all referenced in the flashbots
initial ether research post.

Phil Daian and Tina Zhen stewards Flashbots,
wile Georgious is a feedback contributor So, first Phil Daian, of flashbots…s he
an alchemist!? Well going to his twitter, he kind of gave
it away for both himself, and Tina…retweeting Tina Zhen saying this “are we all alchemist’s”
with her doing some glasswork alchemy, retweeting the gostep, stephane, retweeting someone getting
an alchemist tattoo. Alcemistception? They be alchemist’s…..whose flashbots
technology allowed Alex Manuskin, to create gasless transactions March 12th…, 9 days
after Sam Moody of Uniswap, was looking at v3 being able to accomplish just that…I
wonder of alchemist coin put out a roadmap, of what entities involved with them were working
on….March 7th they tweeted, a gaseless DEX might just be in the works…. But what about Georgoeous George, Gorgeous
Konstantopolus. Who in the heck is that? He was referenced in the flashbots, etherresearch
post as a feedback contributor…but is he really that involved with Flashbots? Well the Flashbots, put together their most
recent meeting just last month. From the agenda, it had a special guest…Vitalik
Buterin..but as we can see…presentation #1 was given by Georgeios, on Ethereum block
space market structure….so yes to this day, Gorgeous is involved, which is confirmed.

April 10th, thegostep, tweeted “Overheard
from a major mining pool: "Flashbots is cause of recent low gas prices as traders shut down
their PGA bots"…with Georgeios replying “this makes sense & why”…. So Georgeious is connected to Flashbots, who
does he “work” for…well of course Paradigm. He is a research partner! I wonder is that Gorgeous guy is working with
something else…like Uniswap v3 periphery contracts…there he is, listed as a contributor…. Now that is how you dig, and make the connections. Cheers I’ll see you next time!.

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