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HIP-4:A New Way To Express A Bet
MAY 2026 HIP-4: A New Way To Express A Bet​ Abstract HIP-4 introduces a new contract type that lets...Payoff Shape​ ​ HIP-4: A New Way To Express A Bet​ Delphi Digital | 05 Who Wins on HIP-4?...7% $70M 6% $60M 5% $50M 4% $40M 3% $30M 2% $20M 1% $10M 0% $0 Illustrative HIP-4 Revenues...
Derivatives
May 2026
Bitcoin: More Than Just Digital Gold?
🔍 Bitcoin: More Than Just Digital Gold?...The metadata can include pictures, gifs, and videos with a maximum size of 4MB, the upper limit for a...The buzz around Bitcoin being used as something other than digital gold has led to other players exploring...With a market cap of $428B, just a fraction of the supply being used for on-chain activities could have...
7 Min
Layer 1 / L1
Mar 2023
Enter the Dream Machine
The initial mint consisted of 4444 eggs that could be hatched, generating a Bun....The floor price for a Bun is around 4.2 DMT (~$420), and Eggs are around 7.2 DMT (~$720)....Gold If you want to play Sanko Pets, you will need GOLD....These trees can be planted from seeds that one can buy at the General Store for 4 GOLD or by winning...
21 Min
Gaming
Jun 2024
BTC vs Gold: The Cross Is Coming
But gold is now at ~$4,700, down 16% from that ATH. What happened? 3 things converged. 1....led BTC by roughly 3-4 months....Even at current BTC levels around $80K, a gold correction to $4,200 pushes the ratio to 19....BTC at $90K with gold at $4,500 gets you to 20.
14 Min
Macro & Markets
May 2026
An Ode To Bitcoin
Today, Bitcoin is digital gold....10 largest crypto assets (Dec. 2018) In other words, we thought it was the perfect time to drop a 60-page...We used a standard 60/40 portfolio as the benchmark to compare it to our original analysis....would’ve generated superior risk-adjusted returns with a CAGR over 200bps higher than a standard 60/40...
12 Min
Other
Dec 2024
The Year Ahead for Markets 2026
Bearish Many crypto investors have turned bearish over the last few months, claiming the top for the 4-...We know the historical 4-year cycle was driven by bigger macro factors like liquidity conditions though...And if gold and global M2 typically lead BTC by ~3-4 months… Then BTC should be trading higher....That is an 8.3x increase over 4 years.
71 Min
Macro & Markets
Dec 2025
Market Musings - Uncertainty Permeates The Market
gold is signaling something to come....Remember – gold is seen as a safe haven asset....US Reverse Repo is drained. pic.twitter.com/krzSKYHnKE — MartyParty (@martypartymusic) February 4, 2025...screenshot, Bybit 24hr liquidations recorded on Coinglass was around $333m, however,… https://t.co/4WLkPxTYF4...
13 Min
Macro & Markets
Feb 2025
Something’s Gotta Give
...about the setup for more PBOC liquidity, and have taken note of China’s ongoing effort to stockpile gold...nearly $500B of liquidity the PBOC has withdrawn over the last 3 months (~$220B of which over the last ~4...Despite the rise in real yields and a stronger USD, gold’s price is moving higher… We saw gold start...
7 Min
Macro & Markets
Jan 2025
A Fragile Absorption: The 2025 TGA Refill and the New Liquidity Regime
...refill process is likely to begin within the next couple of weeks and has historically lasted for 2-4...analysis, the Treasury may need to issue between $500-600 billion in net new debt over the next 2 to 4...Central banks added 415 tonnes of gold in the first half of 2025, marking a continued pace of historically...
26 Min
Macro & Markets
Aug 2025
Rise of Kingdoms: What Does It Feel Like To Be King?
There are hundreds of different types of ‘resources’, with 4 primary ones: Food, Wood, Stone and Gold...Seriously, pages and pages of these The core player motivation for many other players is to have stronger...Also in frame – next to two players harvesting food and gold.
24 Min
Gaming
Jul 2022
The Year Ahead for Apps 2026
Robinhood Gold If Coinbase’s flywheel starts with USDC yield, Robinhood’s starts with Gold....As part of the Gold flywheel, Robinhood uses Gold ($5/month or $60/year) as a loss leader to incentivize...recent CZ pardon news, a fomo user could immediately rotate into the leading CZ related memes (like “$4”...
96 Min
DeFi
Dec 2025
Get Ready to BLAST Off
Blast provides a ~4% yield for ETH and 15% for stablecoins directly to its users....This is in addition to the ~4% native yield of Blast ETH....As of 26 March 2024, there were 42.2K active Blast users....To manage selling pressure, ORBIT stakers must choose the lockup period (from 1 Week up to 4 Years),...below 40 ETH.
33 Min
NFTs & Gaming
Mar 2024
Coinbase: From Sleeping Giant To Industry Leader
Prior to BitMEX’s fall, FTX’s contribution to BTC’s global OI hovered around 4-6%....There are many other notable examples that can be found on the @News_Of_Alpha twitter page....gold...., say 0.75% – which is still materially less than its historical take rate – that figure could top $4...
45 Min
Financial Market Themes
Sep 2023
Zcash: Encrypted Money for a Surveilled World
Underperforming gold....Proof generation dropped from 40 seconds to a few seconds....Framework 4: Shielded Pool Trajectory The shielded pool is Zcash’s core product....For context on how far this has come: in December 2017, only ~4% of ZEC was shielded....The November 2024 halving dropped annual inflation to ~4%. By 2028, it falls to ~1%.
59 Min
Infrastructure
Feb 2026
The Crypto Conspiracy
It is interesting to say the least how well crypto seems to follow these 4 year cycles, revolving around...Those risky bets get riskier until the market gets overheated and collapses. 4....predictions here, but merely observe as somebody must have told the world’s biggest money managers about the 4...
7 Min
Asset Management
Jun 2023
ZKsync & Elastic Network's Q1 Wrapped: Ecosystem & Development Highlights
With over 9.97 million unique addresses, 470,000 monthly active users, and nearly 1 million unique contract...Since the Abstract mainnet launched 42 days ago, over 1.4m Abstract Global wallets have been deployed...Currently built on the UBS Global Gold Network, UBS Gold allows clients to purchase a claim to physical...gold. ...
19 Min
Infrastructure
May 2025
Sport.Fun: Reimagining the Fantasy Sports Frontier
Shares can be traded for the main platform currency, Gold (which can be redeemed for  USDC)....Players in the active squad can be sold for Gold to buy other athlete shares....In F2P, Gold is purely an in-game resource that cannot be exchanged for USDC....FUN Token Economics The total distribution of FUN is as follows: 21% Community Incentives  4% Genesis...
15 Min
Gaming
Dec 2025
Bitcoin's Market Structure, Correlation to Gold, and Miner Revenue Mix
BTC and Gold’s Relationship Back in 2019, BTC’s correlation to gold propelled the narrative that BTC...If BTC isn’t considered an inflation hedge — as gold is — by investors, then rising inflation could negatively...happened to the Alchemix alETH contracts yesterday, along with our plan to make it right.https://t.co/4lL1xgyGDG...
3 Min
Infrastructure
Jun 2021
Delphi's Monthly Markets Webinar - April 2024
Hey Delphi Community,  Join the Macro & Markets team this Wednesday (4/17) from 11am ET – 12PM ET...Hey Delphi Community,  Join the Macro & Markets team this Wednesday (4/17) from 11am ET – 12PM ET...
1 Min
Macro & Markets
Apr 2024
The State Of Bitcoin
In 2022, Bitcoin’s FRM hovered between 40x-120x, meaning Bitcoin would need between 40 and 120 times...behaved after spot gold ETFs came to market....The first gold ETF entered the market in 2003 when gold was trading at around $650 an ounce....In October, $ORDI was trading at around $4.
28 Min
Layer 1 / L1
Feb 2024