Indexed Podcast

The RWA Boom: How Much Is Actually Being Used? | Meta

In today's episode, we're joined by meta to explore the real-world asset (RWA) market through DeFiLlama’s dashboards. Putting an asset onchain and getting people to use it. We unpack how to measure that difference, why RWA metrics vary between platforms, and what trading activity can tell us about demand.

We discuss:

• The biggest RWA asset classes and issuers
• How tokenized assets are classified
• Permissioned versus permissionless assets
• Why KYC requirements can restrict trading
• AUM, onchain value, active assets and DeFi TVL
• Asset growth versus rising underlying prices
• RWA perpetuals, open interest and trader attention
• Filtering artificial trading volume
• Why “RWA” might cover too many different things

And much more—enjoy!

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Timestamps:
(00:00) Introduction
(07:52) DeFiLlama’s RWA Dashboard Tour
(12:23) Biggest RWA Categories And Issuers
(19:54) Classifying Tokenized Assets
(23:15) KYC And Trading Restrictions
(26:25) AUM, TVL And Active Assets
(34:16) Measuring Real RWA Demand
(43:42) Asset Growth Or Price Gains
(44:27) RWA Perps And Open Interest
(47:18) What Traders Are Betting On
(50:57) Filtering Artificial Trading Volume
(59:09) What Does RWA Actually Mean?

—
Follow meta:
https://x.com/themetaisok
—

Content links:
DeFiLlama RWA Dashboard: https://defillama.com/rwa
DeFiLlama RWA Perps Dashboard: https://defillama.com/rwa/perps
—

Follow the co-hosts:
https://x.com/hildobby
https://x.com/0xBoxer
https://x.com/sui414

Follow the Indexed Podcast:
https://x.com/indexed_pod

—
The Indexed Podcast discusses hot topics, trendy metrics and chart crimes in the crypto industry, with a new episode every 1st and 3rd Thursday of the month, brought to you by wizards @hildobby @0xBoxer @sui414.

Subscribe/follow the show and leave a comment to help us grow the show!

—
DISCLAIMER: All information presented here should not be relied upon as legal, financial, investment, tax or even life advice. The views expressed in the podcast are not representative of hosts' employers' views. We are acting independently of our respective professional roles.

Ethereum pays validators with newly issued ETH but how much is actually needed to keep the network secure? 

In today’s episode, we’re joined by Jerome de Tychey to explore whether Ethereum could reduce issuance without compromising security. We unpack the debate around EIP-8363, why it was withdrawn from consideration for Hegotá, and what changing staking rewards could mean for ETH holders, solo stakers, and DeFi.

We discuss:

• How Ethereum’s issuance and fee burns work
• The case for changing staking rewards
• EIP-8363 and the pushback it received
• Ethereum’s transition toward post-quantum security
• Whether staking competes with productive DeFi activity
• Could lower yields push capital into other chains?
• How excessive staking could make network capture harder to contest
• What dilution and taxes mean for solo stakers

And much more—enjoy!

—
Timestamps:
(00:00) Introduction
(02:50) How Ethereum creates new ETH
(06:52) ETH issuance versus fee burns
(10:04) EIP-8363’s proposed rewards curve
(11:36) Why EIP-8363 was withdrawn
(12:06) Ethereum’s post-quantum transition
(23:19) Staking through market cycles
(34:43) Is staking competing with DeFi?
(35:47) Could lower yields drive exits?
(41:30) Security, centralization, and network capture
(47:51) Solo staking, taxes, and dilution
(58:11) Ethereum’s long-term trade-offs

—
Follow our guest:
Jerome de Tychey:
https://x.com/jdetychey
—

Links:
Sharing EIP-8363:
https://x.com/jdetychey/status/2084638778677751889?s=20

Withdrawing EIP-8363 from consideration for Hegotá:
https://x.com/jdetychey/status/2105592200696607103

Ethereum upgrades tracker:
https://forkcast.org/

—
Follow the co-hosts:
https://x.com/hildobby
https://x.com/0xBoxer
https://x.com/sui414

Follow the Indexed Podcast:
https://x.com/indexed_pod

—
The Indexed Podcast discusses hot topics, trendy metrics and chart crimes in the crypto industry, with a new episode every 1st and 3rd Thursday of the month, brought to you by wizards @hildobby @0xBoxer @sui414.

Subscribe/follow the show and leave a comment to help us grow the show!

—
DISCLAIMER: All information presented here should not be relied upon as legal, financial, investment, tax or even life advice. The views expressed in the podcast are not representative of hosts' employers views. We are acting independently of our respective professional roles.

Memecoins are back but the battle for traders looks different this time. Today we're joined by onchain analyst Adam Tehc to unpack how FOMO, Robinhood Chain and a new wave of launchpads are reshaping the market. From public profit screenshots to memecoins paired with tokenized Nvidia shares, what's driving the resurgence and can it last?

We discuss:

• FOMO vs Axiom vs GMGN: the fight for trading market share
• Robinhood Chain’s rise—and what it means for Solana
• Why simpler trading apps are bringing memecoins back
• Apple Pay onboarding and trading across chains
• How unrealized profits fuel the FOMO loop
• Pump.fun’s push into social trading
• Trading fees, referral rewards and who gets paid
• Memecoins paired with tokenized stocks
• Launchpad tokens and the incentives behind their growth
• What wallet activity can—and can’t—tell us about adoption
• Financial nihilism, speculation and the attention economy

And much more—enjoy!

—
Timestamps:
(00:00) Introduction
(00:42) Meet Adam Tehc
(02:54) The Trading App Wars
(06:52) Robinhood vs Solana
(10:06) Why Memecoins Came Back
(15:09) How FOMO Works
(20:48) Trading Without Bridging
(24:41) Fees and Referral Rewards
(26:46) Memecoins Meet Tokenized Stocks
(34:35) Tracking the Launchpad Explosion
(37:36) New Users or Returning Traders?
(41:48) Are Memecoins Here to Stay?

—

Links:

https://dune.com/adam_tehc/fomo

https://dune.com/adam_tehc/trading-terminals

https://dune.com/adam_tehc/the-robinhood-trenches

https://dune.com/adam_tehc/memecoin-wars

—

Follow Adam Tehc:
https://x.com/Adam_Tehc

Explore Adam’s dashboards:
https://dune.com/adam_tehc

Follow the co-hosts:
https://x.com/hildobby
https://x.com/0xBoxer
https://x.com/sui414

Follow the Indexed Podcast:
https://x.com/indexed_pod

—
The Indexed Podcast discusses hot topics, trendy metrics and chart crimes in the crypto industry, with a new episode every 1st and 3rd Thursday of the month, brought to you by wizards @hildobby @0xBoxer @sui414.

Subscribe/follow the show and leave a comment to help us grow the show!

—
DISCLAIMER: All information presented here should not be relied upon as legal, financial, investment, tax or even life advice. The views expressed in the podcast are not representative of hosts' employers views. We are acting independently of our respective professional roles.

Tempo's Big Bet: Better Payments beyond Stablecoin Transfers

Today we're joined by Mallesh Pai Forward Deployed Researcher and Recovering Economist at Tempo to dive into what it takes to build a blockchain specifically for payments.

We discuss:

• What is Tempo?
• Why payments need dedicated infrastructure
• Micropayments and agentic payments
• Stablecoins beyond simple transfers
• Enterprise payment use cases
• Supporting multiple stablecoins
• Predictable fees and payment rails
• Tempo’s transaction architecture
• Onchain payment data
• Stablecoin supply and activity
• Measuring payment networks
• Tempo’s design tradeoffs

And much more—enjoy!
—
Timestamps:
(00:00) Introduction
(02:11) What is Tempo?
(06:07) Micropayments and new use cases
(15:02) Agentic payments
(16:50) Enterprise payment infrastructure
(29:53) Supporting multiple stablecoins
(32:17) Predictable transaction fees
(36:45) Diving into Tempo data
(47:57) Stablecoin activity
(50:18) Real-world payment patterns
(53:32) Beyond TVL metrics
(56:33) Tempo’s design tradeoffs
—
Follow the guest:
https://x.com/malleshpai

Follow the co-hosts:
https://x.com/hildobby
https://x.com/0xBoxer
https://x.com/sui414

Follow the Indexed Podcast:
https://x.com/indexed_pod
—
Content links:

https://dune.com/tempodata/tempo-rolling-30-day-stablecoin-transfer-volume

https://dune.com/tempodata/tempo

—
The Indexed Podcast discusses hot topics, trendy metrics and chart crimes in the crypto industry, with a new episode every 1st and 3rd Thursday of the month, brought to you by wizards @hildobby @0xBoxer @sui414.

Subscribe/follow the show and leave a comment to help us grow the show!
—
DISCLAIMER: All information presented here should not be relied upon as legal, financial, investment, tax or even life advice. The views expressed in the podcast are not representative of hosts' employers views. We are acting independently of our respective professional roles.

Prediction Markets: Inside Polymarket, Kalshi, Bots & User Behaviour

Today we're joined by James Dye, full node researcher at Surf AI, to dive deep into prediction markets and the data behind Polymarket and Kalshi.

We discuss:

• Polymarket vs Kalshi
• Crypto markets driving volume
• Polymarket US growth
• Prediction market turnover
• Sports and crypto fee engines
• Polymarket user growth and churn
• Which markets onboard users?
• Geopolitics and user retention
• Cross-category user behaviour
• Bots vs retail traders
• Who actually makes money?
• Prediction markets’ future

And much more—enjoy!
—
Timestamps:
(00:00) Introduction
(00:44) James Dye and Surf AI
(03:19) Prediction market data
(06:07) Polymarket vs Kalshi
(10:23) Polymarket US growth
(12:20) Turnover and fee engines
(19:33) User growth and churn
(23:32) What onboards new users?
(27:39) Retention by market
(30:05) Cross-category user behaviour
(33:10) Bots vs retail traders
(43:20) Who actually makes money?
(46:10) Prediction markets’ future
—
Content links:
https://x.com/DaiZeshi/status/2036902219556213058?s=20

https://panteraresearchlab.xyz/research/crypto-on-the-clock/

https://panteraresearchlab.xyz/research/2026-h1-report-flash-boys-or-superforecasters/

—
Follow the guest:
https://x.com/DaiZeshi
—

Follow the co-hosts:
https://x.com/hildobby
https://x.com/0xBoxer
https://x.com/sui414

Follow the Indexed Podcast:
https://x.com/indexed_pod
—
The Indexed Podcast discusses hot topics, trendy metrics and chart crimes in the crypto industry, with a new episode every 1st and 3rd Thursday of the month, brought to you by wizards @hildobby @0xBoxer @sui414.

Subscribe/follow the show and leave a comment to help us grow the show!
—
DISCLAIMER: All information presented here should not be relied upon as legal, financial, investment, tax or even life advice. The views expressed in the podcast are not representative of hosts' employers views. We are acting independently of our respective professional roles.

Zenith Brings Ethereum to Canton

Today we're joined by Norbert Vadas, Head of Product at Zenith, to explore how Ethereum compatibility is coming to Canton and what that means for institutional finance.

In this episode we're discussing:

• What Zenith is building on Canton
• Canton’s privacy-first architecture
• DAML and Canton smart contracts
• Why EVM compatibility matters
• Bridging Canton assets into Ethereum
• CIP-56 assets explained
• Unified liquidity for institutional assets
• Bringing DeFi to Canton
• Rollup-inspired architecture
• State management and scalability
• Institutional adoption and real-world assets
• Mainnet roadmap and what's next

And much more—enjoy!

—

Timestamps:

(00:00) Introduction
(00:51) What is Zenith?
(04:04) Norbert's background
(06:02) Why build Zenith?
(08:22) Understanding DAML
(12:45) Why EVM compatibility?
(17:14) CIP-56 assets explained
(27:43) How Zenith executes
(39:13) RWA lending example
(42:15) Bringing DeFi to Canton
(45:58) State growth & scalability
(50:14) Who is using Zenith?
(56:46) What's next?
(1:01:28) Mainnet roadmap
(1:03:24) Outro

—

Guest links:

https://x.com/NorbertVadas
https://x.com/ZenithFdn
https://www.linkedin.com/company/zenithfoundation

Follow the co-hosts:

https://x.com/hildobby

https://x.com/0xBoxer

https://x.com/sui414

Follow the Indexed Podcast:

https://x.com/indexed_pod

—

The Indexed Podcast discusses hot topics, trendy metrics and chart crimes in the crypto industry, with a new episode every 1st and 3rd Thursday of the month, brought to you by wizards @hildobby @0xBoxer @sui414.

Subscribe/follow the show and leave a comment to help us grow the show!

—

DISCLAIMER: All information presented here should not be relied upon as legal, financial, investment, tax or even life advice. The views expressed in the podcast are not representative of hosts' employers views. We are acting independently of our respective professional roles.

Today we're joined by Tom Wan, Head of Data at Entropy Advisors, and Ali, Data at Entropy Advisors to break down one of crypto's biggest infrastructure launches of the year: Robinhood Chain.

We dive into why Robinhood chose Arbitrum as its blockchain infrastructure, how the partnership actually works behind the scenes, and what this means for the future of tokenized real-world assets. We also explore early onchain data, blob usage, revenue sharing, Ethereum economics, and whether Robinhood could become the everything-app for finance.

We discuss:

•  Why Robinhood launched its own blockchain 
•  Robinhood's partnership with Arbitrum explained 
•  Blockchain infrastructure vs distribution 
•  Tokenized RWAs and Robinhood's vision 
•  Early Robinhood Chain adoption metrics 
•  Memecoins vs real-world assets 
•  Robinhood app UX and chain abstraction 
•  Blob usage and Ethereum settlement 
•  Robinhood Chain revenue sharing 
•  Ethereum vs Arbitrum economics 
•  The future of tokenized finance 
•  What's next for Robinhood Chain 

And much more—enjoy!

—

Timestamps:

(00:00) Introduction

(01:10) Why Robinhood built a chain

(09:20) Blockchain as infrastructure

(21:26) Memes vs RWAs

(23:39) Robinhood user experience

(31:25) Chain abstraction explained

(44:14) Robinhood blob dominance

(45:19) Revenue sharing model

(47:16) Arbitrum economics

(48:18) Future of Robinhood Chain

(51:03) What's coming next

(53:09) Outro

—
Content links:
https://x.com/adam_tehc/status/2075565893179113493?s=46&t=CgOOIjEz_uRbAZFFRLsgAg

https://x.com/jonbma/status/2077097764488359972?s=20

https://x.com/Adam_Tehc/status/2077092599278846159?s=20

https://x.com/EntropyAdvisors/status/2077833176827805901?s=20

https://arbdata.com/ecosystems/robinhood
—

Follow the guests:

https://x.com/tomwanhh

https://x.com/AliTslm

Follow the co-hosts:

https://x.com/hildobby

https://x.com/0xBoxer

https://x.com/sui414

Follow the Indexed Podcast:

https://x.com/indexed_pod

—

The Indexed Podcast discusses hot topics, trendy metrics and chart crimes in the crypto industry, with a new episode every 1st and 3rd Thursday of the month, brought to you by wizards @hildobby @0xBoxer @sui414.

Subscribe/follow the show and leave a comment to help us grow the show!

—

DISCLAIMER: All information presented here should not be relied upon as legal, financial, investment, tax or even life advice. The views expressed in the podcast are not representative of hosts' employers views. We are acting independently of our respective professional roles.

The Manipulation of 5min BTC Price on Polymarket

Today we're joined by Ruizhe Jia, Assistant Professor at Stanford University, to unpack one of the most fascinating market structure discoveries in crypto this year.

We dive into new research showing how Polymarket's 5-minute Bitcoin prediction markets may be creating incentives to manipulate BTC's spot price at settlement. 

We discuss who actually trades these markets, why sophisticated traders exploit them, how market makers react, and what this means for the future of prediction markets and programmable finance.

We discuss:

• Stanford's research into crypto market structure
• Why 5-minute BTC markets exist
• Who actually trades these prediction markets?
• Evidence of BTC price manipulation around settlement
• How sophisticated traders exploit Polymarket
• Market makers adapting to manipulation
• Why retail may be at a disadvantage
• Binary options vs prediction markets
• Can prediction markets become more efficient?
• The future of programmable financial infrastructure

And much more—enjoy!

—
Timestamps:

(00:00) Introduction

(01:06) Why Stanford studies crypto

(05:27) The 5-minute BTC market

(09:00) Who trades these markets?

(13:22) Can traders exploit them?

(15:45) The manipulation research

(21:05) How BTC price gets moved

(30:30) Why market makers profit

(38:25) Why manipulation works

(41:25) Retail's hidden disadvantage

(45:18) Are these markets useful?

(49:43) Future of prediction markets

(54:38) Final thoughts

—
Content links:

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=7028398

https://x.com/RuizheJia/status/2074615729333374981?s=20

https://x.com/sui414/status/2074650268927742307?s=20

https://panteraresearchlab.xyz/research/crypto-on-the-clock/

—
Follow the guest:

https://x.com/RuizheJia

Follow the co-hosts:

https://x.com/hildobby

https://x.com/0xBoxer

https://x.com/sui414

Follow the Indexed Podcast:

https://x.com/indexed_pod

—
The Indexed Podcast discusses hot topics, trendy metrics and chart crimes in the crypto industry, with a new episode every 1st and 3rd Thursday of the month, brought to you by wizards @hildobby @0xBoxer @sui414.

Subscribe/follow the show and leave a comment to help us grow the show!

—
DISCLAIMER: All information presented here should not be relied upon as legal, financial, investment, tax or even life advice. The views expressed in the podcast are not representative of hosts' employers views. We are acting independently of our respective professional roles.

Why Solana Data Doesn't Agree (And Why That Matters)

Today we're joined by Waddah from the Solana Foundation to discuss Solana Data, an initiative tackling one of crypto's biggest hidden problems: why different data providers report completely different numbers.

We discuss:

• What is Solana Data?
• Why crypto data providers disagree
• Institutional adoption & data quality
• Benchmarking Dune, Artemis, Allium & others
• DEX volume methodology differences
• Stablecoin supply challenges
• Wash trading & filtering assumptions
• Open source data benchmarking
• Building standards for crypto analytics
• The future of onchain data auditing
• Why transparency matters for institutions

And much more—enjoy!

—
Timestamps:
(00:00) Introduction
(00:55) What is Solana Data?
(02:20) Why institutions need data
(04:23) Launching Solana Data
(06:24) Data provider disagreements
(11:15) Biggest data headaches
(12:08) Stablecoin supply issues
(14:14) DEX volume comparison
(22:19) Why metrics differ
(27:19) Cross-chain data standards
(32:50) Open source methodology
(36:00) Community contributions
(38:02) Most trusted metrics
(41:50) Final thoughts
(43:25) Outro

—
Follow the guest:
https://x.com/waldruupi

Solana Data:
https://solana.com/data

Follow the co-hosts:
https://x.com/hildobby
https://x.com/0xBoxer
https://x.com/sui414

Follow the Indexed Podcast:
https://x.com/indexed_pod

—
The Indexed Podcast discusses hot topics, trendy metrics and chart crimes in the crypto industry, with a new episode every 1st and 3rd Thursday of the month, brought to you by wizards @hildobby @0xBoxer @sui414.

Subscribe/follow the show and leave a comment to help us grow the show!

—
DISCLAIMER: All information presented here should not be relied upon as legal, financial, investment, tax or even life advice. The views expressed in the podcast are not representative of hosts' employers views. We are acting independently of our respective professional roles.

Today we're joined by Ben, co-founder and CEO of Noves, to explore the Canton Network.

We discuss:

• What is the Canton Network?
• How privacy works on Canton
• Why blockchain data breaks on private networks
• How Noves indexes Canton data
• Validators, synchronizers & network architecture
• Network performance, TPS & scalability
• Institutional adoption & real-world assets
• Privacy vs transparency trade-offs
• What activity is happening on Canton today?
• The future of institutional blockchain infrastructure
• Live walkthrough of Canton analytics dashboards

And much more—enjoy!

—
Timestamps:
(00:00) Introduction
(04:28) How Canton works
(10:04) Collecting private data
(12:29) Validators explained
(17:37) Network performance
(18:04) Peer-to-peer architecture
(25:57) What Noves can see
(27:27) Privacy vs transparency
(28:18) Institutional adoption
(35:27) Activity on Canton
(38:24) Canton dashboard demo
(43:57) Blockchain meets TradFi
(44:44) What's next for Noves
(46:04) Outro

—
Follow the guest:
https://x.com/novesben

Noves:
https://ccdata.noves.fi/
https://x.com/Noves_fi

Follow the co-hosts:
https://x.com/hildobby
https://x.com/0xBoxer
https://x.com/sui414

Follow the Indexed Podcast:
https://x.com/indexed_pod

—
The Indexed Podcast discusses hot topics, trendy metrics and chart crimes in the crypto industry, with a new episode every 1st and 3rd Thursday of the month, brought to you by wizards @hildobby @0xBoxer @sui414.

Subscribe/follow the show and leave a comment to help us grow the show!

—
DISCLAIMER: All information presented here should not be relied upon as legal, financial, investment, tax or even life advice. The views expressed in the podcast are not representative of hosts' employers views. We are acting independently of our respective professional roles.