Alpha Insights

DAOs: Decentralized Autonomous Organizations or 'Don't Ask, Obviate'
By
Anil Lulla•
Let’s face it – DAO governance is a joke for token holders but works perfectly for projects looking to maintain […]

A Quick Look at Intriguing Small Cap Opportunities
By
Anil Lulla•
Spool I have loosely followed Spool for a few years now. I think portfolio management is an area that will […]

$UWU
By
Anil Lulla•
Unicorn’s token UWU finally went live after months of teasing, and it can be claimed on their site for those […]

Ekubo: Starknet's Golden Child
By
Anil Lulla•
DAOs are dead, AMMs are dead, fair launches are dead. Ballooned valuations, bloated foundations, and deceptive points programs are the […]

Uniswap Labs Front End Fee Increased to 0.25%. Where to Trade?
By
Anil Lulla•
Uniswap Labs has increased its fee on trades using the Uniswap Labs front ends from 0.15% to 0.25%. If you’ve […]
Uniswap 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.

Liquidity AggregatorThe Future of On-Chain Liquidity
By
Anil Lulla•
Introduction Despite the adoption of Automated Market Makers (AMMs) in the DeFi space, numerous problems persist. Liquidity providers(LPs) enter the […]

Layer 1 / L1Pro Crypto Insider Talks - July 2023
By
Anil Lulla•
In July's Crypto Insider Talks, Ash Bennington, Raoul Pal, and Kevin Kelly discuss key topics: Ripple ruling and its market implications, pending BTC ETFs, potential of Coinbase's $COIN in a bull market, and the Unibot Telegram bot.

AMMUniswap's Fee Switch
By
Anil Lulla•
Uniswap has a cumulative total of ~$1T volume, often competing with CEXs like Coinbase for volume on major pairs. Uniswap views CEXs as its primary competitor rather than other DEXs. The Uniswap community is sitting on a lever that could enable them to re-direct a portion of the protocol’s fee revenue to governance, otherwise known as the fee switch.

AMMTrader Joe's Novel Take on Concentrated Liquidity
By
Anil Lulla•
Trader Joe’s LB introduced a novel innovation that created an alternative model of concentrated liquidity and provides more flexibility for LPs. Its unique implementation of a constant sum invariant within each price bin allows traders to enjoy zero-slippage swaps, unlike other constant product AMM DEXs.

Asset ManagementAnalyzing Market Behavior for Key Airdrops
By
Anil Lulla•
Airdrops are one of the most sought-after events for users of on-chain projects. It’s the distribution of a protocol’s token, often to historical users. The aim is to reward loyal users and encourage user stickiness of the product. But it doesn’t always go as intended.
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