Follow us on 𝕏 | Give us a Shoutout | Sponsor Specs

⌐◪-◪ → Circle just launched its Euro stablecoin $EURC on Base.

While this is certainly exciting, $EURC still has a long way to go in terms of global adoption. Currently, it’s #592 stablecoin by market cap, here are some notable ones for reference.

• $USDT → $114.4B

• $USDC → $32.9B

• $DAI → $5.35B

• $PYUSD → $646.2M

• $EURC → $38.84M

As you can see $EURC still has a long way to go and is currently 1,000x smaller (by market cap) than Circle’s leading stablecoin, $USDC.

This is an exciting development for the EU, as they now have a MiCA-compliant stablecoin that is fully integrated with the Coinbase + Base ecosystem — a net positive for global commerce.

💬 What currency will Circle add next?

⌐◪-◪ → Jesse Pollak just interviewed Vitalik Buterin live at BaseCamp where 400+ builders gathered in the mountains of Idyllwild, CA.

First of all, I think it’s really cool to see the community come together in this way — so a big shoutout to Jesse and the Base team for organizing BaseCamp.

As for the interview with Vitalik, he’s focused on 2x things:

• ERC-3770: cross-chain addresses

• ERC-7683: open standard for cross-chain orders

Ultimately, he wants to improve cross-chain experiences like depositing on Polymarket — which is still far from the ideal UX required for mass adoption.

Most of my activity is still on mainnet, but I dabble on Base, Arbitrum, and Polygon — mainly Base though.

💬 What layer 2 chains/applications are you using?

⌐◪-◪ → Kamala Harris’ odds of winning the presidential election just hit a new all-time high on Polymarket of 44%. This is a massive improvement from her odds 1 and 2 weeks ago:

• 1 week ago → 32%

• 2 weeks ago → 6%

Polymarket has surely proven product-market fit, with over $1B in cumulative betting volume and over $80M in cumulative revenue, however many wonder if it has an unrealistic Republican bias given the crypto demographic.

Here is an example of PredictIt vs. Polymarket, which respectively gave Trump 53% vs. 61% chance of winning the election.

In a perfect market, any/all bias would be arbitraged away by smart market participants or bots instantaneously (ex. Bitcoin ETF price vs. actual price) but it doesn’t appear like the market is that efficient yet.

Also, it doesn’t help that certain websites (Betfair) ban accounts they suspect are arbitrating on other markets.

💬 Join the prediction market conversation in Specs.Chat!

Join Specs Chat!

Designed to make you a better crypto investor, builder, and operator.

💬 Chat with Valko and other experts
📚 Access additional hand-curated resources
😊 Make friends, share memes, have fun