Weekly fundamentals – Manta Pacific is now live on Token Terminal!

New listings

Manta Pacific – a blockchain (L2) platform for decentralized applications on Ethereum. You can access the data across all our products: Terminal (Pro), Terminal API, and Data Room.

deBridge – an interoperability protocol that allows for decentralized transfers of data and assets between blockchains.

Fraxlend – a non-custodial lending protocol built on Ethereum.

Pendle – a permissionless yield-trading protocol built on Ethereum, Arbitrum, BNB Chain, and Optimism.

Silo – a non-custodial lending protocol built on Ethereum and other blockchains.

Terminal Pro

Data-driven insights from analysts using Token Terminal Pro

The top gas consuming contracts in crypto

Excerpt from "The ETH Stake Rate in 2024: What Advisors Need to Know", authored by Michael Nadeau and published on CoinDesk

"Below is a visualization of the fees vs. consensus rewards (token incentives) over the last year."

"As we can see, transaction fees have exceeded rewards for the better part of the year – the sign of a healthy network that can economically support its decentralized network of validators with user fees – rather than consensus rewards (as is the case for every other L1 network today)."

The economics of Uniswap, covered in the Rundown podcast

• Uniswap's value prop, business model, and breakthrough innovation
• Use cases for Uniswap in finance
• Uniswap financials & KPIs
• How Uniswap is integrating within the tech stack
• The UNI token
• How Uniswap's economics change on various blockchains
• Value capture (will Uniswap launch an L2?)

Explore Terminal Pro: https://tokenterminal.com/product/pro

Terminal API

You can find all available API endpoints here: https://docs.tokenterminal.com/reference/api-reference

If you have questions about our API or are interested in obtaining trial access, please reach out to people@tokenterminal.xyz.

Data Room

Handpicked insights from the Token Terminal Data Room

What
Year to date, the vast majority of trading volume on Balancer has been from flashloan transactions, overshadowing traditional swap transactions.

Flashloans are a DeFi instrument that enable the borrowing of funds without any collateral, which must be repaid in the same transaction block, allowing for complex financial maneuvers that would otherwise require significant capital.

Why
Currently, there are no fees for flash loans on Balancer (source). This fee structure could be part of a broader strategy by Balancer to increase platform liquidity and trading volume, as arbitrageurs and other traders are likely to bring in more activity when they are not dissuaded by additional costs.

So what
The absence of flashloan fees on Balancer could lead to an increase in the number of arbitrage transactions, as traders take advantage of the opportunity to profit from small price discrepancies between different exchanges or within Balancer itself.

Raw and decoded onchain data from 14 chains, accessible via Google BigQuery. Explore our Data Room offering: https://tokenterminal.com/product/data-room

Changelog

New datasets

• Trending wallets: displays key data on the wallets which contribute the most to the networks’ current usage, tracking over ten different metrics for each wallet. The data set is filtered by the top 1000 wallets that have spent the most gas over a 30-day period across various chains.

Smart contract labels

Labels make it easier for analysts to understand which market sectors, projects, and contracts drive usage on a blockchain.

• Manta Pacific: 1200+ new labels
• Avalanche: 470+ new labels
• Arbitrum: 340+ new labels
• Ethereum: 40+ new labels

Explore trending contracts: https://tokenterminal.com/terminal/contracts/trending

ICYMI

Fundamentals podcast

How Sui achieves +270k TPS: tech, traction, KPIs, building for mass adoption & more | Fundamentals ep.81

Self-serve content

Explore the Terminal: https://tokenterminal.com/terminal

The authors of this content, or members, affiliates, or stakeholders of Token Terminal may be participating or are invested in protocols or tokens mentioned herein. The foregoing statement acts as a disclosure of potential conflicts of interest and is not a recommendation to purchase or invest in any token or participate in any protocol. Token Terminal does not recommend any particular course of action in relation to any token or protocol. The content herein is meant purely for educational and informational purposes only, and should not be relied upon as financial, investment, legal, tax or any other professional or other advice. None of the content and information herein is presented to induce or to attempt to induce any reader or other person to buy, sell or hold any token or participate in any protocol or enter into, or offer to enter into, any agreement for or with a view to buying or selling any token or participating in any protocol. Statements made herein (including statements of opinion, if any) are wholly generic and not tailored to take into account the personal needs and unique circumstances of any reader or any other person. Readers are strongly urged to exercise caution and have regard to their own personal needs and circumstances before making any decision to buy or sell any token or participate in any protocol. Observations and views expressed herein may be changed by Token Terminal at any time without notice. Token Terminal accepts no liability whatsoever for any losses or liabilities arising from the use of or reliance on any of this content.