Raydium Research Reports

DeFiA New Framework For Understanding Moats In Crypto Markets
By
Anil Lulla•
In an industry where the laws of competition are inherently accelerated, the concept of a moat is profoundly important. However, we currently lack the right frameworks for understanding moats, and downstream of this, where value will ultimately accrue.
This report aims to bridge this gap by offering a new framework — one that takes into account the unique structural differences underpinning crypto apps.
Furthermore, we will apply this framework to six unique verticals: Money Markets, DEXs, Stablecoins, LSTs/LRTs, Third-Party Bridges, and Social Apps.
By the end of this report, you should have a higher resolution understanding of what a moat ultimately looks like and which crypto apps are positioned to sustainably capture value.

NFTsMonthly 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.
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