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i did some week end thinking about breakout apps of this cycle, what they have in common and how it relates to what we do at SOCKET. namely, a lot of the successful apps have changed the game by breaking away from the accepted status quo and introduced new architectures to offer new primitives or better user experiences. @hyperliquid -> changed mempool design to prioritize order cancellations within a block - crucial for an on-chain orderbook to succeed, get mm's to provide liquidity and avoid a flood of failed txs @cowswap -> introduced off-chain auction to allow batching of user txs, find COWs and enable solver competition @ethena -> executes basis trade on CEX’s unlike predecessors who were limited to much smaller perp DEX's - while keeping collateral on-chain this is exactly the future we envision. SOCKET’s chain abstraction protocol allows builders to build apps that benefit from similar levels of customization via its concept of AppGateway. AppGateways are an app-level abstraction that sits above all chains - between the users and the on-chain contracts. With the AppGateway app builders can define any pre-execution logic to transactions before they land on-chain. A user transaction hits the Gateway, the AppGateways runs its logic and then a stream of transactions get executed on-chain. Any of the 3 earlier examples could be built on SOCKET. But where it really shines is if an app builder wants to write an app that runs logic on several chains. With SOCKET they can write their app in normal solidity as if it was running on a single chain. Contracts on one chain can seamlessly compose with contracts on other chains or even with off-chain systems. Importantly, they don't have to write ultra complex spaghetti code to deal with cross-chain messaging. Asking an app builder in crypto to understand cross-chain messaging is like asking a web2 developer to deal with TCP/IP to handle the transport and routing of data packets emitted by their app. Fuck that. In today's status quo before SOCKET, a builder who wants to e.g read the price of an asset on 3 different chains to execute a trade where it's cheapest, needs to write a contract that sends messages to all chains, fetch the prices, return the messages to the origin chain and deal with message verification, cost and latency. Impossible to build a seamless user experience using the current toolset. From the app builder perspective, you can look at SOCKET as taking care of all the orchestration necessary across chains to settle what has been defined in the AppGateway by an army of off-chain actors to execute your users actions with modular security on chain. In production right now we have: @BungeeExchange our liquidity marketplace doing >$1b volume per month is the first app built on SOCKET. The BungeeGateway is where user intents and transactions are processed and matched with solvers & fillers. @useenclave is building a "Universal Balance" as-a-Service layer to let wallets abstract fragmented chain balances and replace them with a fungible balance that users can spend on any chain, instantly. Here, the EnclaveGateway matches user orders with Paymasters. @rathfinance is turning DeFi yield into a native feature for wallets. User funds get auto-routed to best opportunities across chains with no extra steps. projects like @derivexyz @aevoxyz @KintoXYZ @reya_xyz etc. use SOCKET for chain-abstracted deposits into their app. But we're only beginning to scratch the surface of what's possible to build with this new way of building apps. It's literally Day 0 for Chain Abstraction. If you are building something ambitious in crypto today - reach out to us.

Binance - USDT Market #COW - Unusual activity 394K USDT in 12 minutes (11%) P: 0.4225 ❇️ (1.17%) 24H Vol: 3.85M USDT

May 11 ETH leads the series of ecosystems to continue strengthening, aligning with strong capital inflows, with AAVE and other DEFI blue chips hitting new highs again. AAVE and LINK, ONDO, ENA, projects named after Trump, are starting to rebound from the bottom. This also drives earlier DEFI concept projects like COW and SCR. All are ETH concepts related to Trump. The market expects that ETH ETF will also allow staking, with front-running and considerable interest being a significant positive, and Microsoft may choose to enter ETH ETF. Compliance, the DEFI series, and the Trump series become the spring of value coins. Gork is expected to soon open contracts.

Binance - USDT Market #COW - Unusual buying activity 372K USDT in 1 minute (11%) P: 0.2766 🔴 (0.82%) 24H Vol: 3.68M USDT

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