Delphi Podcast Alpha

Hi everyone, I wanted to share a takeaway on each of our last few podcast episodes. Sharing a digestible takeaway on each one so you can pick those which most interest you

EigenLayer: Restaking staked ETH on the supply side to help secure middleware layers on Ethereum. Middleware developers have a lower burden for experimentation since they can source staked ETH as security and have a higher security bar vs rolling their own nodes since the security TVL is all restaked ETH. The first use case to restake to will be EigenDA, where application specific rollups can write more cheaply than to Ethereum which is good since rollup writing throughput is limited on Ethereum (83kb/s) and thus expensive. Concerns include rehypothecation risks, less of a need and thus incentives for middleware teams to have a native token and slashing risks to underlying LSD.

Sei: Co-Founder Jay was working at Robinhood during the whole gamestop fiasco when they turned off sell orders which directly helped underwater hedge funds who were short. Jay and his co-founders used this experience to energize building a trading protocol that would never allow such arbitrary undemocratic decision making. Sei is an L1 blockchain built from scratch for trading.

The Sei story is pretty straightforward. The team built an L1 from the ground up to offer the best trading experience. They wanted to achieve the fastest finality so market makers and retail can take other actions such as hedging, high throughput a natural goal of an exchange and specialization for their core focus. 

The main ways they are achieving these goals are through Frequent batch auctions to prevent front running MEV so everyone gets the same trade price, twin turbo consensus so faster time to finality so no re-orgs and parallelization for higher throughput.

Delphi Labs: Lead Jose offers a wealth of information on Delphi Labs’ incubator. Jose provided valuable insight into the decision-making process behind selecting projects for incubation, touching on first principles thinking and inbound ideas from founders. He also discussed how Labs balances incubating projects with near-term profit potential versus those focusing on long-term, game-changing technologies.

Jose shared his unique views on the future of capital formation, the importance of founders building up their EQ to handle all of the highs and lows of the startup world and the multi-decade approach Labs is taking so founders know they will be a part of a long lasting brand.

Karate Combat: KC may be one of the only projects at the intersection of Crypto and Meatspace with 200,000,000 organic views per month online.

Karate Combat is UFC for the next generation and is built on crypto rails. Co-Founder OnlyLarping discusses the fight league, tailoring the entire sport for short and engaging experiences, catering to online fans of a younger demographic, bucking the trend by not signing exclusive distribution agreements so the sport is available everywhere and the token dynamics around UpOnly Gaming.

If you enjoy these digestible takeaways please let us know and we will keep them coming.

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