We also redesigned the policy overlay to capture when central banks are supportive and when they are...We have also enhanced the “policy” overlays to better model how central bank action (or inaction) influences...The same macro backdrop produces very different market outcomes depending on what central banks do with...

In our report, we will examine the factors that contribute to depeg events, analyze each centralized...Minimal amounts are allocated to longer-duration T-bills such as the May 25th, 2023 maturity T-bills,...which account for only 2.3% of USDC’s reserve assets....T-bills as reported on October 13th, 2022.

Total equity capital for US banks is ~$2.14T, which doesn’t leave a whole lot of buffer if banks are...Bank deposits ballooned in 2020-2021, which provided a cheap source of funding....major source of UST demand, that supply will have to be absorbed by the private sector and foreign central...

From 2019 to 2024, gross revenue grew from ₩113.6 billion ($87 million) to ₩711.9 billion ($547 million...steep losses in 2022 and 2023, at -₩185.8 billion (-$143 million) and -₩206.7 billion (-$159 million)...One of the main access points is WEMIX PLAY, a central hub for all game-related activities.

...choosing to stake ETH, you have a variety of avenues to explore, including liquid staking protocols, centralized...EL rewards since the Merge)) AWS Region affects pricing, we will be using US West (Oregon) us-west-2...to just 30.6% in May 2023....Furthermore, its centralized structure represents a vulnerability, as it constitutes a single point of...

Part 2 – Applications In Part 1 we have overviewed Anoma’s intents and seen how they compare to Ethereum-style...“Part 2: WTF are intent-based apps?”...has 2 sections; First, we take a look at some existing intent-based apps across various verticals that...It has 2 modes of operation; fast and slow.

So, going over a few expiry prices: $2 SUSHI: holders would redeem for 25 SUSHI/100 range tokens, worth...For example, if a token is trading @ $8 on secondary and a 2 year call with a strike of $25 is worth...At time of loan, ZigZag maxed out all available borrows from 2%-9% and utilized ~77% of the loans offered...

...holdings: use an illiquid product like Sovryn on Rootstock, wrap their Bitcoin and send it to Ethereum (centrally...BRC-20’s on this DEX trade against sUSDT....In the end, it’s reasonable to assume this cohort of users actually trusts centralized businesses like...On Ethereum, most NFT metadata just points you to a centralized server where the associated multimedia...

TGA refill process is likely to begin within the next couple of weeks and has historically lasted for 2-...The post-2000 “dollar-centric” reserve framework where global central banks recycled trade surpluses...Central banks trimmed U.S. dollar reserve exposure by –0.05% in Q1 2025, while increasing allocations...

For starters, global central banks are cutting rates…not hiking them....(GLI) shows the broader trend in central bank liquidity has been drifting lower....Central banks purchased more than 600 tonnes of gold in 2025, a trend we expect to continue into 2026...Aave will remain the central bank of the DeFi ecosystem.

...involvement bring more institutional-grade liquidity, exchange integration with Layer 2 rails, and a...evolving circumstances will be explored later in this report, but first, we must understand Mantle’s Layer 2...Mantle Network Architecture Modular Layer 2 Mantle network differs from most Layer 2s on Ethereum through...a fiat-crypto banking connection.

...perfect time to drop a 60-page deep dive outlining our bull case for BTC — so that’s exactly what we...We didn’t say it would steal all of gold’s market share in investor portfolios or replace central bank...We also believed there was a decent chance that eventually, many central banks would come to view BTC...

Hypothetically, if global central banks reallocated 5% of their gold reserves to BTC, that would net...We saw signs of liquidity momentum fading, specifically from the world’s two most important central banks...When it comes to global central bank liquidity over this past year, the PBOC has done most of the heavy...

Exchange – Bridging Aggregator StarGate – Multi-network bridge for Stablecoins Hop Protocol – Layer-2...DAO Banking: Beyond Tokens [Excerpt from a Delphi Pro Report] Since DeFi started taking off in 2020...A thread🧵 — Jaran Mellerud (@JMellerud) June 27, 2022 Arbitrum Odyssey Week 2 Arbitrum Odyssey:...

...report, written in collaboration with Secondlane, a private markets–focused, Web3-native investment bank...The Staking category has nearly disappeared from secondary market deal flow, falling from 2% to 0% deal...Theme #2 – Emergence of Distinct Buyer Archetypes Perhaps the most interesting dynamic in the past year...

No market hours or T+1/T+2 settlement constraints....Binance offers capped 2% cashback on transactions via their card....Phase 2 Once money starts moving natively on the timeline, the floodgates open....more recently, well past the initial hype cycle, with Bagwork trading at a market cap of just over $2...Examples: Hashdive, Polysights. 2.

...soon: Path dependence: The combination of (1) an existing security standard (CUSIP / ISINs) with (2)...Thesis #2: Decentralized-Virtual-Infrastructure-Networks (DeVin) The non-linear impact of AI is one of...There are two ways that I expect blockchains will augment AI: (1) resource coordination and (2) serving...

DAO Banking: Beyond Tokens [Excerpt from a Delphi Pro Report] The first major instance of a DAO financing...attempt came a year ago in July 2021 when SUSHI was looking to do a strategic raise....So, going over a few expiry prices: $2 SUSHI: holders would redeem for 25 SUSHI/100 range tokens, worth...

Gen 2 cards often have interesting features that differentiate themselves from vanilla gen 2 cards....Gnosis Pay Safe has 2 custom modules, a roles module and a delay module....Tether and Circle) and (2) stablecoin distributors (i.e., apps)....pic.twitter.com/xlVSsc33eC — Alex Nezlobin (@0x94305) December 2, 2024 The LP profitability improvement...

...from $2 quadrillion in value flows....windows implicit dependency on the banking system for the underlying money Stage 2 – The Fintech Layer...29, 2025 Now, the example above is a bank-to-bank FX process; however, it still applies in the context...Phantom picking Hyperliquid 2.