$DAI had successfully escaped the decentralized stablecoin flywheel, where it didn’t need to subsidize demand (as $USDS is doing) because users wanted to hold it and use it as a medium of exchange, for savings, as trading pair, payments etc.

The decentralized stablecoin flywheel works as follows:

USDC / USDT are a clear example of th

On February 10th, B3, the gaming-focused L3 on Base, launched its token on Bybit and Aerodrome at a market cap of just over $100M. In the hours/days following, the token saw a spot listing on Coinbase and perps listing on Binance, spiking the marketcap to a peak of $350M.

Now that the dust has settled and the market cap is sitting at a re

AI’s biggest competitive advantage—compute power and proprietary data—is no longer an impenetrable moat. A revolution in AI training is underway, making it possible for smaller, decentralized AI projects to compete with industry giants. Historically, entities like OpenAI, DeepMind, and Anthropic have dominated foundation model development

Yesterday, Ronin made what could be their most significant announcement of the year, transitioning to a permissionless model. Until now, the team controlled who could deploy smart contracts on Ronin via an allowlist. Only approved entities could sell NFTs, create staking contracts, or mint their own tokens. As a result, the ecosystem unti

Recently in an internal meeting, the Delphi Research team pondered how many AI applications truly require crypto. Meanwhile, researchers and investors have questioned whether the intersection of crypto and AI is a forced marriage or a necessary evolution. While AI has advanced rapidly under the control of centralized tech giants like Open

This is the spiritual sequel to my last Alpha Feed post on crypto’s recent bout of existential nihilism.

When the sun set on the 2021 crypto bull run, there was an unshakeable feeling of optimism. We were building infrastructure with the vision of building real products on top of it. Until SBF and gang decided to rain fecal matter on our

Protocols and projects built in the DePIN ecosystem promise to revolutionize the way both physical and digital infrastructure—such as energy grids, wireless networks, and cloud computing—are built and maintained. By distributing ownership and operation across independent participants, DePIN aims to rival centralized oligopolies with decen

While Solana has been the breakout success story of recent years, its DeFi ecosystem has trailed Ethereum in product diversity. However, with faster blocks and cheaper transactions, Solana is perfectly suited for DeFi innovation and growth. The success of yield trading and points farming on Ethereum, exemplified by Pendle’s remarkable jou

If you think about it, no rollup launched recently (Eclipse, Megaeth, Abstract) has planned to use Ethereum blobs because ETH simply can’t compete with what altDA offers to rollups. So Ethereum is stuck in a dilemma: increasing blobs puts more resource pressure on nodes, reducing decentralization (which goes against Ethereum’s ethos).

If