Wallets & Infrastructure - Starknet ecosystem supports native wallets like Ready (formerly Argent), Braavos, and Cartridge Controller (gaming only) [1] - Multi-chain wallet support includes Xverse (Bitcoin), Keplr (Cosmos), MetaMask Snap, Bitget Wallet, and Ledger [1] - Starknet bridges facilitate transfers to and from various chains via RocketXexchange, Layerswap, Rhinofi, Orbiter Finance, Owlto Finance, Rango Exchange, Mini Bridge, and Retro Bridge [1] - StarkGate by StarkWare serves as the canonical bridge connecting Starknet with Ethereum, Bitcoin, and Solana [3] - Bitcoin <> Starknet bridges are being developed by Garden Finance and Atomiq Labs [3] DeFi & Trading - Spot trading is enabled through aggregators like AVNU (with DCA and charts) and Fibrous Finance (with batch orders) [1][4] - Decentralized exchanges (DEXs) like Ekubo offer spot trading, DCA, and limit orders [4] - Layer Akira and Remus provide spot trading with charts and transparent order books [4] - Perpetual (Perp) trading is available on Extended (crypto + TradFi pairs, yield farming) and Paradex (separate Starknet appchain, yield farming) [4] - Lending/borrowing platforms include Vesu (Multiply strategies) and Nostra Finance (AMM pools) [4] - Fixed Lend offers an order book for yield (fixed rate + fixed maturity loans) [4] - Opus Money is developing Starknet's native stablecoin (CASH) with triple-yield farming [4] - Endur facilitates liquid staking of STRK and soon BTC [4] Other Applications - Pulsar Money enables social payments [5] - Ready card offers a crypto debit card [5] - Braavos LN integrates Lightning Network for mobile payments [5] - Carmine Options provides European-style options [5] - Unruggable serves as a token launchpad [5] Onchain Gaming - The Starknet ecosystem features various onchain games, including Realms (Age of Empires x Travian), Blob Arena (Pokémon-inspired), Art/Peace (r/Place), Ponziland (DeFi metagame), Jokers of Neon (Poker), Force Prime (Heroes of Might and Magic), Pistols (Cowboy duels), Dark Shuffle (Roguelike deck-builder), Dope Wars, zKube_game (Tetris), ByteBeasts (Tamagotchi), and Evolute (Carcassonne meets Mage Duels) [5] Tools & Resources - Ready Portfolio is a portfolio tracker [5] - AVNU Market is a Dexscreener-like product for Starknet [5] - Starkpulse by AVNU is a Telegram bot tracker [5] - Voyager and Starkscan are block explorers [5]

Winners:- Bridges- Oracles like ChainlinkBut even Ethereum as the liquidity hub for all chains.https://t.co/woZ9tx57f0Wei Dai (@_weidai):Fragmentation of chains is great for interoperability protocols.Now that Tether, Circle, & Stripe are all building different payment L1s, it is increasingly unlikely that we will have one globally-dominant payment L1.As a result, interoperability between payment chains ...

Core Insights - Tutor Perini Corporation (TPC) and Granite Construction Incorporated (GVA) are benefiting from a strong cycle of infrastructure investment, particularly in large-scale civil and transportation contracts [1][2] Company Overview - Both companies specialize in large-scale public infrastructure projects, including highways, bridges, and rail systems, often supported by state and federal funding [2] - Their operations align closely with national infrastructure initiatives, positioning them as key players in upcoming federally funded projects [2] Current Market Environment - Infrastructure spending remains robust, with public funding supporting long-term project pipelines, prompting both companies to focus on expanding backlog, winning contracts, and improving execution efficiency [3] - Strong demand is anticipated from both public and private markets, making operational scaling and project visibility central to their strategies [3] Tutor Perini Corporation (TPC) - TPC is leveraging the surge in infrastructure spending to enhance its backlog and diversify its exposure to large-scale projects across various sectors [5] - In Q1 2025, TPC secured approximately $2 billion in new awards, increasing its backlog to a record $19.4 billion, nearly doubling from the previous year [6] - The company raised its 2025 earnings guidance, indicating strong performance and a favorable project environment [7] - TPC's projected EPS for 2025 suggests a significant year-over-year increase of 155.9% [17] Granite Construction Incorporated (GVA) - GVA is experiencing momentum in both public and private markets, with a disciplined focus on core markets and risk-managed project selection [8] - In Q1 2025, GVA's Committed and Awarded Projects (CAP) reached a record $5.7 billion, reflecting a 7.5% sequential increase and a 3.6% year-over-year rise [9] - GVA expects to maintain its growth trajectory, with projected revenues of $4.2-$4.4 billion and adjusted EBITDA margins of 11-12% for 2025 [11] Stock Performance and Valuation - TPC's stock has surged 82.3% over the past three months, outperforming the industry average of 30.1%, while GVA shares have risen 21% [12] - TPC is trading at a premium compared to GVA based on the forward 12-month price-to-earnings (P/E) ratio [13] Final Assessment - Both companies are well-positioned to benefit from strong infrastructure spending and multi-year project pipelines [20] - TPC stands out with a record backlog, stronger earnings growth outlook, and rising momentum in civil and commercial markets [21] - GVA, while maintaining steady growth, is viewed as less compelling in the near term due to its more measured pace and valuation [22]

Financial Data and Key Metrics Changes - Revenue for the first quarter was $239 million, down $49 million from the same period in 2024 [17] - Gross profit was $21.5 million, an increase of $1.1 million from the same period in 2024, with a gross profit margin of 9%, up from 7.1% in the prior year [18][19] - The company reported a net loss of $4.5 million or a loss of $0.08 per share, compared to a net loss of $400,000 or a loss of $0.01 per share in the same period last year [19] - EBITDA for the quarter was $10.1 million, compared to $10.9 million for the same period in 2024 [20] Business Line Data and Key Metrics Changes - The Civil segment had revenues of $103 million, up from $84 million in the same period in 2024, with a gross profit of $23 million, an increase of $5 million [20] - The Transportation segment had revenues of $137 million, a decrease of $67 million from the same period in 2024, with a gross loss of $1 million compared to a gross profit of $3 million in the prior year [21] - The materials and paving business line contributed $18 million to revenue but had a negative gross profit of $9 million due to increased project costs [21][22] Market Data and Key Metrics Changes - The company added approximately $137 million in new awards during the quarter, bringing the total backlog to approximately $2.5 billion [12][22] - The historical client mix consists of approximately 80% government agencies and 20% private clients, providing insulation from broader economic uncertainty [12] Company Strategy and Development Direction - The company is focused on strengthening its leadership team and enhancing performance, with recent appointments including a new CFO and Chief Strategy Officer [6][7] - The company aims to maintain a disciplined bidding approach and improve execution to drive strong margins [14] - Upcoming opportunities include significant projects in the Civil segment and transportation projects in various regions [13] Management's Comments on Operating Environment and Future Outlook - Management does not expect current tariffs to materially affect the business, citing minimal direct exposure to cross-border material procurement [10] - Demand for infrastructure projects remains strong, particularly from federal and state clients, with expectations for continued robust demand [11] - The company anticipates substantial completion of legacy projects by the end of 2025, with a focus on generating positive operating cash flow [50] Other Important Information - The company celebrated the 125th anniversary of its American Bridge subsidiary, highlighting its commitment to safety and engineering innovation [8] - The company has made significant progress in improving its balance sheet, with unrestricted cash position more than double compared to the end of Q1 last year [53] Q&A Session Summary Question: Outlook for Civil segment revenue - Management is optimistic about the Civil business, expecting strong double-digit margins and a potential shift towards civil projects as the paving business winds down [29][30] Question: Profit impact from Materials and Paving - The gross profit impact from Materials and Paving was $9 million, with a non-cash charge of $3.5 million related to a contract closeout [31] Question: Transportation booking outlook - Management is excited about the transportation market, with several projects in the pipeline and an expected uptick in bidding in the second half of the year [35] Question: Updates on alternative delivery projects - Progress is being made on the Winnipeg and Burnside Bridge projects, with expectations to develop them into construction contracts [42] Question: Bonding capacity status - The company maintains a strong relationship with surety partners and is targeting strategic projects in civil and transportation segments [44] Question: Margin profile expectations for the summer - Management anticipates a reduction in legacy impacts as new core projects ramp up, contributing positively to margins [50][52] Question: Free cash flow outlook - Positive operating cash flow was generated in Q1, with expectations for stronger cash flow in the latter half of the year [68]