Coin Metrics is committed to building the crypto economy on a foundation of truth, providing authentic and accurate data with the highest standards of clarity and precision. With this mission in mind, we are proud to share our December edition of Movers and Shakers, the monthly resource aiming to bring more transparency and credibility to the rapidly evolving crypto space.
As new assets reach a certain degree of accessibility to investors, specifically as they achieve alignment with our Market Selection Framework and the Trusted Volume Framework, Coin Metrics uses its crypto expertise to describe the assets’ context of use. The following assets are expected to reach alignment this month:
Euler Finance (EUL) is a decentralized lending protocol building modular lending vault products. The Euler Vault Kit (EVK) enables permissionless deployment of lending vaults for ERC-20 tokens. Users can adjust oracles, interest rate models, and vault management operations to provide custom lending terms. To reduce liquidity fragmentation, vaults are connected via markets. Markets support multiple assets as collateral for a single, lendable asset. Lenders can earn yield on their assets even without borrowers by connecting vaults to EulerSwap. This DEX program can also have custom AMM curves, custom pricing spreads, and access to leverage functions to improve capital management. Assets can facilitate swaps, used as collateral, or lent to borrowers without capital migrating across products. EUL is a governance token that allows holders to vote on protocol development and treasury management. EUL is also used as the currency for bidding on accrued protocol fees. Fees accrued by vaults are auctioned to users; the highest bid in EUL tokens receives the fees in exchange for EUL tokens which are sent to the treasury.
Solayer (LAYER) is a Solana VM-based smart contract platform focused on hardware acceleration to scale transaction throughput. The Solayer InfiniSVM orchestrates blockchain activity by distributing transaction processes across microservices and specialized hardware. Technology including InfiniBand RDMA and a Software-Defined Network (SDN) architecture combined with Solana’s parallel processing and smart contract capabilities enable sub-second communication between hardware and increases the efficiency of network operations. Solayer uses a hybrid Proof-of-Authority and Proof-of-Stake consensus mechanism to secure network functionality. LAYER tokens can be used to vote on governance proposals, such as approving assets to add to the network, and distributed as ecosystem incentives to users and protocols.
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