This Week’s Alpha Allocation: @ethena_labs • Sector: DeFi Stablecoins • Token: $ENA → Project Insight Ethena (@ethena_labs) is a synthetic-dollar protocol. Its stablecoin $USDe surpassed $6 billion in circulation this week, fueling token demand. $ENA is not just governance, it’s the monetary layer of a DeFi-native dollar system earning real yield via collateral strategies. → Catalyst 1. Fee‑Switch Nearing Activation: $USDe metrics already meet key thresholds; staked $ENA holders (sENA) are poised to begin receiving revenue share. 2. $0.43 ENA Surge: $ENA has rallied +43 % this week, becoming the #2 gainer in top-100 tokens, fueled by fee-switch speculation. 3. $260M Buyback Program: @stablecoin_x (backed by Pantera, Galaxy, Polychain) plans to purchase $ENA using $260M in fresh funds, reducing circulating supply. 4. DeFi Adoption Rising: $USDe passed $6B supply; $750M inflows this week; proof of real-world traction. → Why You Should Buy Now ✅ Revenue Coming Soon: Switch to paying sENA holders is near...this turns $ENA into a yield asset, not just a token. ✅ Shrinking Supply: $260M buyback from $ETH-backed treasury is a structural demand boost. ✅ High-Momentum Entry: After a 43% rally, $ENA still trades at $0.50—well below its $1.52 ATH. ✅ Institutional Validation: Backing by Pantera, Galaxy, and stablecoin treasury funds gives it credibility and runway. → My Price Prediction $ENA is consolidating around $0.50–0.55. • Short-term breakout above $0.60 could open a run toward $0.80. • Mid-term target: $1.00–1.20 once fee-switch activates and institutional demand accelerates. → Rotation Narrative Crypto narratives are shifting; from yield-chasing (L2s, memecoins) to actual income and yield on capital. Ethena lies at the center: a synthetic-dollar protocol delivering on-chain yield + scarcity through revenue share and token buyback. $ENA isn’t a momentum play, it’s the emerging on-chain dividend asset for the new DeFi era.

7 GUD READS 📚 (Edition No. 47) Pill's curated list of alpha you should cannot miss → from macro perspectives on Bitcoin and Ethereum, to the final meta(?) 👇 1️⃣ Narrative economics in crypto markets by @0xjawor 2️⃣ The final meta by @peacefuldecay 3️⃣ Ethereum's "Ultrasound Money" Vision by @IngsParty 4️⃣ The Myth of the Billion-Dollar Idea by @chilla_ct 5️⃣ Can Monad Really "Make It"? By @Defi_Warhol 6️⃣ Bitcoin is the most important asset of our generation. By @Lombard_Finance 7️⃣ From HODL to High Finance: The Narrative Arc of Crypto’s 2025 Bull Cycle by @RubiksWeb3hub

Token launches in recent times are brutal. Most projects spend months preparing for their big moment, only to watch their token bleed for weeks after. Here's what actually determines success or failure when bringing a token to market🧵

“are we in 2099?” yes, haha, we might be! :D This isn’t a tech flex, it is a real glimpse at the future of how we’ll see, interact and think. I can see @mawariXR isn’t about throwing some 3D objects into your AR glasses, it’s solving the real problem, like streaming spatial content in real time, anywhere! I take it as “the backbone of the spatial internet”. @Grok and @xAI into the mix? This is engaging with live intelligence layered into our world. AI that sees what you see, knows where you are and talks back in context. Miyoko, Ani and Elon didn’t just have a chat they cracked open the idea of AI as presence, not just interface. On this scale of innovation, yes, it’s giving 2099!

“are we in 2099?” yes, haha, we might be! :D This isn’t a tech flex, it is a real glimpse at the future of how we’ll see, interact, and think. I can see @mawariXR isn’t about throwing some 3D objects into your AR glasses, it’s solving the real problem, like streaming spatial content in real time, anywhere. I take it as “the backbone of the spatial internet”. @Grok and @xAI into the mix? This is engaging with live intelligence layered into our world. AI that sees what you see, knows where you are, and talks back in context. Miyoko, Ani, and Elon didn’t just have a chat they cracked open the idea of AI as presence, not just interface. On this scale of innovation, yes, it’s giving 2099!

Sei from all indicators is rapidly evolving into the backbone of performant, parallelized, and composable DeFi infrastructure. Now with USDY joining the party, Sei unlocks a new era of modular yield-bearing finance — and here’s why that’s a big deal • Ondo’s USDY is more than just another stablecoin — it’s a tokenized note backed by short-term US Treasuries, offering yield while preserving dollar exposure. • Bringing USDY to Sei means users and protocols can now access yield-bearing dollars natively, without bridging or wrapping complexities. • On a chain built for speed and parallel execution, this changes the game: → Lending markets with real yield → Yield-backed stablecoin LPs → Leveraged yield strategies → Composable money markets ______________ • For developers? They can now integrate USDY into DeFi primitives without compromising on performance or composability — enabling faster innovation with real-world assets. • For institutions? A modular finance stack on Sei now looks more attractive than ever — compliant, capital-efficient, and high throughput. This unlocks new DeFi opportunities and accelerates Sei’s position as a leader in onchain modular markets.

Not enough people are paying attention to $BLOCK. The market is favouring revenue generating projects right now, & this is one showing MOM growth, with success tied directly to token price. Over $90M wagered on @blockbetgg since launch $1.5M+ in $BLOCK bought back using revenue since January this year 8% of supply already bought and removed On top of this, the team have now announced 100% of profits from $BLOCK wagers are now being burned. The token is either bought by users to play… or bought back by the protocol. Just a constant flow of $BLOCK leaving circulation. They’re aiming to retire 20% of the supply this year. If BlockBet keeps growing, that number gets hit sooner. To put things into perspective, $BLOCK is 9x away from $SHFL’s FDV, but with much stronger utility and a deeper integration into the platform. Not financial advice, but this is one of the only tokens I’ve seen where product traction directly translates to both buy pressure on the token and the removal of tokens from the supply. That’s rare.

If users aren’t being paid to show up, and they still do, that’s what you call product-market fit. We’re in a market where every protocol is launching a token, dangling points, or bootstrapping with emissions. That makes it harder (and more important) to filter signal from noise. This post breaks down three protocols scaling without incentives: Base, Meteora, and Yei Finance. Each one is quietly compounding adoption. No airdrops. No mercenaries. Just usage. Let’s unpack why this filter matters. It might be your highest-conviction bull market screen. ● Why Most DeFi Growth Isn’t Real There’s a pattern: - Launch with high emissions. - Bribe for liquidity or usage. - Hope the market forgets when it stops. But when incentives dry up, so does the usage. That’s not a bug. It’s the design. Token-led growth is a marketing tool, not a retention engine. The question smart capital is asking now: Who’s growing without the bribes?

Chainlink CCIP + USDC on Sei is a powerful catalyst for SEI’s growth across multiple dimensions and you guys are sleeping on this announcement. First of all, Chainlink CCIP (Cross-Chain Interoperability Protocol) brings secure, audited interoperability trusted by institutions like SWIFT. Putting this into perspective, USDC is the most regulated and widely used stablecoin in DeFi and TradFi. Together, they provide the rails for settlement-grade cross-chain value transfer, making Sei attractive for real-world finance and fintech use cases. • CCTP would allow USDC to move seamlessly across chains. With Sei now on the route, the entire ecosystem would get access to billions in stablecoin liquidity. • This would eventually lead to deeper liquidity pools, better market efficiency, and more volume for Sei-native apps. _____________________________ Chainlink's CCIP is already the backend for several TradFi experiments (e.g., tokenised treasuries, cross-border settlements). With USDC and CCIP on Sei, TradFi players can now plug into a performant L1, enabling experiments like: -Tokenised RWAs on Sei -FX swaps with stablecoins -Real-time payments between institutions with the rise of payment options. -Increased exponential growth in the GameFI sector. ___________________________ Sei’s architecture enables sub-second finality and low fees — ideal for stablecoin transactions and real-time finance. With native USDC and CCIP, Sei becomes the fastest highway for global stablecoin settlements across chains and platforms. Currently, the Sei ecosystem has been in a state of frenzy if you're looking closely -Increase in new daily users with a record of 449,379 recorded yesterday July 14, 2025. -Clear spikes in daily dex volume and transaction count. - Growth in TVL (currently $646m+ enroute to $700m) across protocols. -Maintained uptime of 99.90% even with all this growth compared to some L1s. Without doubt, this integration is a foundational unlock for real-world adoption, cross-chain composability, and DeFi scale on Sei.

The future of Web3 finance isn’t lawless, it’s regulated. Join on July 17th at 11am est for ZDKL’s first-ever webinar: World Peace Through Trade, a monthly series exploring how web3 is changing the way we trade, connect and build. Featuring @BeckmannZDKL @KyleighaZDKL , and guest @Jonathan_barry_ Proof-of-Work. Legal rails. Real utility.