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• NEAR Protocol, a L1 blockchain excelling at cost-efficient, high-speed transactions, is on its mission to onboard 1 billion users to the Open Web. After the launch of KaiKai (a consumer shopping app), NEAR observed a surge in Daily Active Addresses (DAA). Building on NEAR benefits both buyers and merchants, with transaction fees around 50 times cheaper than Visa/Debit fees. DAA currently stand at 833k, propelled by KaiKai's impressive retention rates (1-day rate is ~40%).

• NEAR hosts 2 of the top 5 consumer projects by active addresses. KaiKai leads with 693k DAA, while Sweat Economy is 3rd (118k DAA). Their success stems from delivering a seamless and familiar user experience, while capitalizing on NEAR's cost-effectiveness and scalability behind the scenes.

• FastAuth, NEAR's passwordless onboarding, tallied 20k accounts in six months. Centered on user experience, it provides a familiar sign-up process and removes frictions like the need for crypto or seed phrases, allowing a median user to start making transactions within 2 minutes.

• 💦🔬 Tx-Level Alpha: NEAR incorporates meta transactions into its core protocol, enhancing accessibility through sophisticated services like NEAR relayer and FastAuth. A representative Meta transaction costs 0.00133N (0.23¢ at NEAR's $1.74 price), 1000x less than on Ethereum and 50x less than on Polygon. This negligible transaction cost is essential for business sustainability amid the rising user acquisition cost (typically $30-$70).

• TON (The Open Network) aims to be an ever-expanding next-gen internet, bridging Web2 and Web3 at speed. Users can settle micropayments using $TON, store and trade assets without leaving the 800M-MAU SuperApp—thanks to the TONxTelegram initiative—plus a multitude of other use cases, all made possible by the shard-designed TON Blockchain. With a stable user base of 20K to 30K and a monthly average of 6M transactions, TON continues to reach new heights in monthly trading volume, hitting 21.7B $TON in October, equivalent to $49.5B at the time of writing.

• Staking of $TON has risen by 68M $TON YTD, reflecting user confidence in the project's future despite decreasing monthly yields. This trend aligns with the 30% YTD raise in the validator system, which will improve TON’s decentralization.

• Zooming in on $TON flows: CEXs form a major TON wallet group with Bitgo holding the most $TON (13.4K) and OKX maintaining the highest trading volume share (35.51%). A larger $TON outflow might indicate users are depositing more to CEXs, looking to sell, but a look at onchain data reveals a commensurate $TON inflow.

• 💦🔬 Tx-Level Alpha: Fragment, endorsed by TON founder Durov, is an auction market for exclusive Telegram usernames and phone numbers. Biddings have been so competitive that a user notably spent 994K $TON on @news while owning other popular ones like @meta, @web3 as well as attractive numbers like +888 8 008. With 12,825,090.51 $TON in the user's wallet and their early commitment dating back to 2022, their investment into many usernames clearly shows belief in TON's use on Telegram, pointing to a hopeful trajectory for the project.

• Sui is an L1 developed by Mysten Labs. Its object-centric data model allows for dynamic asset management directly on-chain, enabling more sophisticated asset interactions like real-time mutations and bundling of NFTs without third-party storage solutions, and its scalable transaction processing and secure smart contract environment position it well for gaming and social metaverse applications. Today Sui TVL crossed $130M on the heels of Mysten Labs' Quest 3, which ended on November 9, 2023.

• Daily Sui DEX volumes are also spiking and reached a high of $50M+ on November 13, 2023. DEX volume per daily active address also reached an all-time high of $4,015 on the same day.

• On the other hand, Daily Active Addresses have declined from a local peak of 364K on November 7, 2023 to just 12K today, which is the lowest total since October 11, 2023. This is a miniscule percentage (~0.14%) of the 8.23M total accounts that have signed transactions since genesis.

• 💦🔬 Tx-Level Alpha: This transaction updated a player's character in Arcade Champion, a mobile arcade game with a crypto play-to-own element and hero-based NFTs. Notably the gas and storage fee of 0.000775916 SUI was paid for, or 'sponsored', by Arcade Champion. Sui's sponsored transactions allow a sponsor to pay for the gas fees incurred by another user, removing the barrier of needing tokens for on-chain transactions and leading to a much smoother user experience particularly in gaming.

• Sei is the fastest Layer 1 blockchain, built to scale with the industry. Launched in August 2023, Sei has adopted technologies such as parallelization and single slot finality to provide a near web2 experience for crypto applications. Since launch, Sei has maintained a consistent 390 ms time to finality (TTF). This is by far the fastest of any single layer 1 blockchain. Sei's current block height is currently 39.4M, over 2x Ethereum's 18.5M. Sei has processed 638M transactions.

• Sei has achieved these times to finality with a steady throughput of transactions on the network, circa 45 TPS demand on average, demonstrating the chains capability to achieve instant TTF with traffic that exceeds every chain other than Solana.

• Importantly, the transaction success rate has remained extremely high, with 99.5% of transactions succeeding; the highest of all blockchains available on flipside's platform.

• 💦🔬 Tx-Level Alpha: The first Native USDC was transferred to the SEI chain. Following on from recent news around Circle Ventures investment into Sei, this is an interesting development.

• In recent months, core Canto contributors have focused significantly on Real World Assets (RWAs), resulting in numerous partnerships with RWA protocols. Hashnote has introduced its short-term US Treasury bill RWA token ($USYC) on Canto. Since its launch approximately one month ago, there has been over $7M USYC minted on Canto. Future RWA launches on Canto will feature projects such as Anzen Finance, Fortunafi, and HighYield.

• In the last month, there has been an increase in the circulation of Canto's decentralized unit of account, $NOTE. This surge is due to traders leveraging NOTE against their USYC holdings, enabling them to acquire additional USYC and amplify their leverage. Currently, ~30M NOTE is in circulation.

• With the launch of USYC on Canto and other impending RWA launches, there has been a substantial increase in the volume of assets bridged onto Canto over the past month. In October, ~$22.2M was bridged onto Canto, a large increase from the ~$4.8M in September and ~$1.6M in August.

• 💦🔬 Tx-Level Alpha: This transaction holds special significance as it marks the inaugural instance on Canto where a Real World Asset (RWA) was minted. Specifically, this represents the first occasion when USYC was minted on Canto.