1/ As a result of the USDC depeg, onchain activity at Ethereum has skyrocketed. Most onchain stats have reached their ATH. Let's look at what happened on March 11th and how it reflects onchain numbers. 2/ First and foremost, consider the volume of DEX's: Ethereum's DEX volume has surpassed its all-time high of $20 billion. Even if we include the DeFi summer, this is the largest volume reached by DEXs. 3/ There was Uniswap accounts for $12 billion of this total, while Curve accounts for $7.5 billion. Given that Curve has introduced stable swaps, it is not surprise that Volume has surged tenfold. Uniswap maintains its volume leadership. 4/ If we're talking about depegs, we should look at @y2kfinance's stats. Since February 1st, y2k has hit its peak volume. Indeed, it is difficult to learn how Y2K works, but I couldn't avoid it. On days like yesterday, it stands out. 5/ If we're discussing large volume and liquidations, we should also include MEV statistics. MEV bots gained over 5100 ETH yesterday, and over 2500 ETH was spent as a gas. We can see that this revenue is the highest since the merge. 6/ Since MEV revenues are rising staking revenue, yesterday Lido saw its highest APR -%10 since merge. Statistics can be found at mevboost.pics and dune.com/LidoAnalytical/lido-execution-layer-rewards 7/ Read my flood if you don't know what MEV is or what it stands for. It is sufficient for novices to comprehend what MEV is. (Unfortunately, it is in Turkish; I will translate it ASAP) It appears that LSDs will have a sizable market share. twitter.com/lyteraio/status/1578808153923145728 8/ Since we're discussing MEV and onchain activities, let's look at L2 solutions. TPS on L2s was twice that of Ethereum L1 on March 11th. We can say that L2'S has taken 60% of Ethereum's load. l2beat.com/scaling/activity 9/ As a TPS, we can see that DYDX Arbitrum and Optimism are leading rollups. It should be noted that this numbers show the "executed" transaction per second rather than the maximum TPS. 10/ Despite increased TPS at L2s, Smart Money continues to favor Ethereum. Ethereum has accounted for 84% of total DEX volume, and it does not appear to be changing anytime soon. Arbitrum has only taken 5% of total volume. 11/ When we look at the most gas used  contracts, we notice the USDC and USDT at the top. The biggest irony, in my opinion, is that stable coins are the most popular usecase of cryptocurrency, despite the lack of a trustworthy, regulated, or standardized version.

tokenterminal.com/terminal/contracts/trending

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Modular blockchains are inevitable. So what exactly do they do? 🧵

Blockchains do three things:

1. Consensus
2. Data Availability
3. Execution Consensus: Each participant is allowed to choose the network's mechanism. The number of members who can join the network without causing delay or security breaches is what is meant by the scalability of consensus.

Data availability: Blockchain is one of the examples of Distributed Ledger Technology. The ledger contains the State Transitions, user datas etc. Data from the Network must be accessible anytime or to whoever requires it. Data availability is essential for network security.

Scalability of Data Availability can be considered as a "cost of validating the Data is Available". Reduced cost means your chain is more scalable in terms of data availability. Several solutions are being implemented by various projects. For example, Celestia and Danksharding. And The Execution: Additionally, the blockchain stack's execution component handles computations. All compute progress must be Turing Complete, Decentralized, and Trustless in a decentralized world.

Scalling the Execution can be considered as "the computation power that same computer handle, ie: Multi Thread computation and other stuffs" any projects that are working for scaling Execution. @EclipseFND, @fuellabs_ , @StarkWareLtd, @arbitrum @Scroll_ZKP @sovereign_labs

We give in when we try to scale the network by combining the three jobs. Monolithic Chains have no ability to scale. BSC is running with the 41 validator, and fees on Ethereum is still a major issue.The higher throughput, increasing the verification cost in the Monolith blockchains.

Verifications should be accessible from every single user.

We realized that we would never be able to complete these 3 things together. In this case, a new approach and a new paradigm are offered by modular blockchains.

They essentially fragment blockchains to increase scalability for a "trust minimized world." Modularism also effectively kills maximalism because it requires blockchain interoperability. This sums up my thoughts on why I'm so enthusiastic about modular blockchains.

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