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25th August 2023

Orange-Pilling TradFi

We’ve explained our rationale for why we believe we’re in the early innings of a new cycle. This morning, I hopped on Schwab Network to spread the good word to more TradFi investors. Here’s a short clip from the longer segment discussing the recent ...

Powell Sticks to the Script at Jackson Hole

The TLDR from Jay Powell’s Jackson Hole speech: not much. Despite his highly anticipated comments, we don’t really have any more insight into the future trajectory of rates than we did a couple hours ago. The opening statement is usually where we ge...

24th August 2023

Delphi Roundup | August 24th

Recent Research 📊 Blur: A Fundamental Analysis of NFT Marketplaces – 8/24 This month, our NFT report covers the following: An overview of NFT marketplaces on Ethereum. A comparison of NFT marketplace tokens, looking at revenue and competitivenes...

The End is Near for GHO's Peg Woes

As discussed in our recent report, GHO has struggled mightily to maintain its peg since launch. As a result, many frustrated DeFi users have called GHO’s entire design into question. I find this to be a short-sighted reaction, considering the mere ~2...

23rd August 2023

This Week’s Forum Threads (August 23rd)

dYdX V4 Proposal Wintermute has proposed to dYdX what amounts to the launch of dYdX v4. The proposal includes: The adoption of the dYdX Chain. Adopting the DYDX token as the L1 token for the new chain. The adoption of their autonomous bridge cont...
We know crypto is a retail-centric market. It’s been painfully clear that retail is the dominating market force. Institutional adoption — or rather institutional funding — has been a core narrative in crypto. These players tend to make their entry wh...

22nd August 2023

Jito Launches Referrals

Jito — the liquid staking provider on Solana — just launched referrals. Wut are referrals? Good question, no one knows! Time for some sleuthing… The Jito team hasn’t released any info on its referrals program other than saying: “We aren’t ready to s...
In the above tweet from yesterday, August 21st, I posted a chart that highlights similar liquidation cascades over the last 2 years. I wanted to specifically focus on liquidation events leaving behind very large wicks (30%+ of total candle size) to s...