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Virtuals & ACP – Open Coordination for Digital Labor
In crypto, the AI agent token mania of 2024 taught the market an expensive lesson....indicate that if this trajectory holds, the agent economy could grow to over one trillion dollars by 2035...This week, there is a new upgrade to ACP that… — EtherMage (@ethermage) July 10, 2025 ACP has graduated...
16 Min
AI
Oct 2025
The Theory of (Mostly) Everything: Part 2
The hierarchy of which factor drives returns rotates through time. 2023-24 was a growth story. 2022 was...-25)....-2026: The 2020 quantity-of-money explosion drove a decisive risk-on reading into 2021....The weighting between the two is mechanical, not fitted: the effective fed funds rate scaled against 2%...
12 Min
Macro & Markets
Oct 2026
Finding the Fun in Fundamentals #2 - Wemade
...steep losses in 2022 and 2023, at -₩185.8 billion (-$143 million) and -₩206.7 billion (-$159 million)...In practice, however, it is challenging to maintain sufficient interest across such a large number of...For high-level players or those who have lost interest, it also provides a simple way to recoup some...
18 Min
Gaming
Jun 2025
Voltz, IPOR, and the Next Wave of Interest Rate Derivatives
...the end of 2022....So far in 2023, there has quietly been a lot of progress in this area....Regardless, the variable takers are accruing interest at 20% for as long as it remains elevated, which...The AMM charges several fees to traders: Opening Fee – set by the DAO, currently 1% of collateral.
22 Min
Derivatives
May 2023
WTF Is Anoma? Part 2: WTF Are Intent-Based Apps?
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...While it started with just 1inch labs for the first few months, it has since been opened up.
24 Min
Layer 1 / L1
Sep 2023
Zetachain Part 2: The Opportunity Ahead for Omnichain Applications
Sovryn Zero allows 0% interest loans on Bitcoin and its Bitcoin-backed stablecoin, ZUSD....BRC-20’s on this DEX trade against sUSDT....They have minimal interest in doing anything with their BTC, besides perhaps using the BTC as collateral...Actual activity on Ordinals saw a significant spike between May and Sept 2023, averaging over 200K inscribed...
47 Min
Layer 1 / L1
Jan 2024
From Dutch Auctions to Open Editions: A Deep Dive Into NFT Distribution Models
NFT Distribution Models Over the past 2-3 years, NFT teams have experimented with a variety of distribution...Despite costing nothing, free mints can reach substantially high prices — particularly those in (1) and (2)...So far, 66 NFT projects have been created using Nouns Builder, approximately 2-5 projects per week....interesting for traders.
22 Min
NFTs
Jan 2023
The Evolution of Digital Asset Secondary Markets - 2025
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...Day one trading opened at $69/share, before peaking at over $200/share in the ensuing weeks.
14 Min
Financial Market Themes
Aug 2025
BAYC Gets BendDAO-ed & Internet Game Season 2
As of now, search interest for NFTs continues to trend downwards....It is interesting to note that 4 out of 5 of the top regions with the highest search interest are in...Internet Game is an interactive entertainment platform that is launching its Season 2, titled “Bear Market...There are 2 parts to the games.
11 Min
NFTs
Aug 2022
Base by Coinbase
🔍 Base by Coinbase Last week, Coinbase launched the testnet for Base, a layer-2 network built using...To understand Base, you need to first understand Optimism (OP) – a layer-2 optimistic rollup chain....Optimism is called a layer-2 chain because it is built on top of Ethereum, using the latter as the base...Optimism’s open-sourced OP […]...
8 Min
Mar 2023
MON Protocol - Primed for IP Expansion
Liquid Tokens are Increasingly Attractive Interest in Web3 gaming peaked in early 2024 and has been steadily...Its 2% depth on Bybit – an indicator that tries to evaluate the required liquidity to move a token by...2% – is just $3.5k-$4.5k, with even lower depth on Bitget ($2k-$3k) and KuCoin/MEXC ($1.2k-$1.8k).
16 Min
Gaming
Apr 2025
Why OpenAI Should Be Scared of Open Source
...source. [00:20:51] Tarun Chitra: Yeah, so I think, you know, Nous obviously, one interesting thing to...Yeah, [00:25:58] Tarun Chitra: and I think the interesting thing is, like, people in crypto who, uh,...] Tommy Shaughnessy: super interesting, by the [00:50:21] Tarun Chitra: way versus revenue.
77 Min
Macro & Markets
Oct 2026
Boba TVL Grows, CRO Outperforms, & Interest Rate Woes
Network is an L2 Optimism Rollup developed by core contributors of the OMG foundation and based on the open-sourced...Funds can be bridged back to Layer 2 without having to wait for 7 days as one would have to on the Optimism...Boba Network, began their liquidity mining event with “blind farming” for a week before launching Pool 2...
3 Min
Layer 1 / L1
Nov 2021
The Year Ahead for Gaming 2025
...aggressive consolidation, a lack of liquidity flows (aside from maybe AI gaming), and a tough next 2-...Team Fortress 2, and Counter-Strike....With MapleStoryU currently in open beta and slated for a 2025 release, AVAX has a second quality game...of the most interesting gaming-centric blockchains to follow in 2025. ...
61 Min
Gaming
Dec 2024
Onchain Greeks Vol 2: Notional Volume DOUBLED MoM
September more than doubled compared to August, so here’s a quick onchain options recap (Sep vs Aug ’26...It now holds 11.2% of notional share, up from 0.4%, and ranks #2 behind Derive for September....Notional rose 285% to $259.9M, lifting its share from 3.1% to 5.4%. Notional outran premium....Notional grew 2.2x while 30d premium grew 1.3x to $83.78M.
2 Min
DeFi
Oct 2026
NFT Interest Grows as Volumes Lag, Bitcoin Hovers as Dollar Jumps
OpenSea Volume Lags NFT Search Interest Worldwide Google searches for “NFT” hit new highs in November...The continued rise in search interest suggests NFTs are far from dead and may even be an early indication...Let’s explore — Jai Bhavnani (@jai_bhavnani) November 17, 2021 Staples Center -> Crypto.com Arena...
4 Min
NFTs
Nov 2021
The Year Ahead for Apps 2026
No market hours or T+1/T+2 settlement constraints....interest Echo (Oct 2025 – For $375M): Brings fundraising and asset issuance closer to Coinbase....Binance offers capped 2% cashback on transactions via their card....Phase 2 Once money starts moving natively on the timeline, the floodgates open....Examples: Hashdive, Polysights. 2.
96 Min
DeFi
Dec 2025
NFT Debrief - June 2023
Each wallet is limited to 2 passes during this tier....Allow List Tier 2: Begin simultaneously with Allow List Tier 1....Again, 2 passes per wallet are allowed....Allow List Tier 3: Begin 1 hour after Allow List Tier 1/2....Phase 2, the public sale, commences 2 hours after Phase 1 and continues until all Trefoil Mint Passes...
20 Min
NFTs
Jun 2023
Axie Part 2 - Gamer Economics
SLP supply peaked at 584mil on 29th May and had a short period of deflation....On 28th June it stood at 484mil, a 100mil(-17%) supply decrease in 30 days....Axie floor prices increased from 0.03 ETH to around ~0.066 ETH, and MEO 2 Axie prices rose from 0.084...flat throughout the month while Mystic 1 Axie floor price grew from 5.5 ETH to 9.99 ETH and Mystic 2...
9 Min
Games
Jul 2021
Dynamic Interest Rate Model Based On Control Theory
Delphi Labs is proud to present a Dynamic Interest Rate Model based on Control Theory....Lending protocols within DeFi predominantly use fixed interest rate models to price loans....If you’re a DeFi builder or part of a protocol and are interested in experimenting with this model, please...
1 Min
DeFi
Jun 2021