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Diving Into Dark Pools
By
Anil Lulla•
CEX volume is, on average, 10 times higher than DEXs. Is this just because of a better UI? We think there is more to it. Making financial moves in open, transparent blockchains is not free of consequence. Institutions and individuals alike prefer to keep their dealings private. This pain point is not new to crypto. In TradFi, we’ve had private financial systems such as dark pools that have existed since the 1960s.
In this report, we dive into dark pools and how they preserve trader and order privacy before execution and after settlement. We look at how dark pools leverage different PETs (Privacy Enhancing Technologies) such as ZK FHE, MPC, and TEE to accomplish their purpose.

Solana the Monolith
By
Anil Lulla•
Solana is not just about slapping some expensive hardware on a blockchain and calling it a day, but rather, how do we optimize software to best take advantage of performant hardware?

Skip: Building Blocks in Cosmos
By
Anil Lulla•
Protocols who are not able to capture the MEV they create will struggle to accrue value. This is where Skip comes in, providing the infrastructure for Cosmos appchains to capture their MEV.

The Year Ahead for Infrastructure
By
Anil Lulla•
A popular takeaway regarding the FTX drama has been that this was not a DeFi problem, but a TradFi one. It’s absolutely true that custody risks apply to CEXs and not DeFi. Yet, given the size of the collapse, we find it important to ask why, despite all their inherent custodial risks, CEXs continue to attract capital at such higher orders of magnitude.

Monthly Chartbook - Uncertainty Reigns Supreme Post-FTX Collapse
By
Anil Lulla•
Has anything changed on the macro front given the macro-driven bear market? This month, the answer is…we’re getting closer.

ATOM 2.0: Building the Hub's Economy
By
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On September 26th the long awaited ATOM 2.0 whitepaper was released, a new vision for the Cosmos Hub and its place in the Cosmos ecosystem.
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