Delphi Roundup | July 27th

Recent Research

📊 The Huge Cultural Opportunity in Bitcoin Ordinals – 7/27

  • The introduction of Ordinals, particularly the ability to create true digital objects, has ignited a renewed passion and excitement among creators and users alike as they engage with new audiences and interactions.
  • This report will outline our thesis behind the potentially huge market opportunity for Ordinals and what to look out for.
  • We explore the data and identify trends around Ordinals activity, trading volumes, and their effect on the Bitcoin network.
  • We present the most noteworthy developments since our last report in March.
  • Lastly, we highlight the most interesting Ordinals collections to pay attention to, grading them on various metrics related to adoption and potential for further growth.

📊 Bull v Bear – Markets, Unibot & Hikes – 7/26

  • Join us for a stimulating episode of Bull vs. Bear following Chairman Powell’s FOMC speech. We analyze the market implications of the Fed’s commentary and dive deep into the world of trading bots. Our focus is Unibot, a standout in the bear market due to its novel use case, easy to use UI and exciting approach to revenue sharing.

📊 DYDX Valuation Analysis & DEX Perps Comparison – 7/24

  • Perpetual DEXs remain one of the products that have shown great product-market fit and continuous innovation in their designs.
  • This sector has an extremely good business model that can generate revenue.
  • We’ve identified four projects as favorites to lead the perpetuals space moving forward: dYdX, Synthetix, GMX, and Vertex.
  • We examine where these projects are, where they are going, and look at the perpetual DEX landscape as a whole.
  • We also go through the token economics and potential for value accrual for these projects.

Relevant Reminder

📌 Check the Chain – Return of the Yield – 7/6

  • Amid DeFi’s changing narrative, true yield is resurfacing. In this episode, join Jordan as he explores stablecoin yield rooted in protocol revenue. Spotlighting Voltz, IPOR, Maverick, and Thales, he positions these protocols on a risk-reward matrix, using T-Bills as our TradFi benchmark. Tune in to uncover the potential upside hidden in stablecoin positions and witness the resurgence of yield in DeFi.
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