Top Results2842 results
The Fat App Thesis: An Inflection Point in Value Accrual
The goal of this report is to elaborate on the topic of the ongoing value leakage from ETH (and in a...the value of ETH....dynamic will lose the lion’s share of value for others to claim....These are not indicators of value creation, but rather value dilution.
43 Min
Layer 1 / L1
Apr 2025
The Battle of the AI Agent Frameworks
The value of your labor will collapse with the cost of inference....Crypto is filled with stories of fantastic tech ($atom, cough cough) which fumbled the value accrual....composio to access 250+ apps like Twitter, Slack, Google etc in a toggleable manner (almost like an “app store...
50 Min
Artificial Intelligence
Feb 2025
The Future of Onchain: The Age of Tokenization & The Token Identity Crisis
As more and more of the largest, most successful companies remain private (the average age of private...The core of Securitize lies in its Digital Securities Protocol, which represents a set of fully open-source...Each Guardian independently runs a version of the “agent,” which is a unique implementation of the Unit...
20 Min
Other
May 2025
The Future of Order-Book Liquidity (Part II - deUSD)
The ratio of basis trade to sDAI backing Elixir will ultimately be a function of the current size of...As the OCF begins increasing again, it retains the same backing split, until the lowest percentage value...of OCF over the course of a 6-month rolling window is greater than 100% of the initial OCF balance.
12 Min
Orderbook
May 2025
Beyond the $HYPE: An Objective Analysis of Hyperliquid
This dual-VM design suggests that the value of $HYPE can be reduced to three fundamental value drivers...However, before analyzing the core value drivers, let’s first unpack the current state of the perps and...Value Driver 2: Spot Product At time of writing, HL’s spot DEX commands a modest ~2% of the spot market...
17 Min
DeFi
Feb 2025
USD.AI: Financing the Future of AI Infra
It is the difference between the value of a borrower’s collateral and the amount of their loan....It represents wiggle room to absorb declines in collateral value, reducing the lender’s risk of loss...Lenders are safe in the event of default so long as the value of the assets does not drop 30% below the...appraised value.
14 Min
Infrastructure
May 2025
Avalanche L1s: Powering the Future of Appchains
On generalized chains, most of the value created just flows back to the base layer....Owning the full stack not only lets them tailor the infrastructure but also capture more of the value...Avalanche also built a native messaging protocol to meet the demand for seamless value transfer between...
22 Min
Infrastructure
Jun 2025
Fuel Network: Engineered Playground For The Next Generation Of Apps
Fuel is also working on an MEV auction to distribute transaction ordering value amongst FUEL token holders...Crypto’s biggest wins so far have been in finance: store of value assets, stablecoins for payments, swaps...per txn), DePIN networks can implement true micropayment systems that fundamentally transform their value...
30 Min
Infrastructure
Apr 2025
Transaction Ordering Policies & Value Accrual in L2s: Timeboost, OP PGA, Fastlane, and OEV Network
Recently, there has been an increasing focus on value accrual within blockchain networks....Transaction ordering policies are a critical aspect of network design, as they directly affect value...Value Accrual Auction proceeds are sent to Arbitrum DAO’s treasury....design significantly influences the distribution of generated value.
16 Min
Layer 2 / L2
Sep 2024
The Path to DeFi's ETF Moment: The Rise of Morpho, Curators, and Mullets
Today, total value locked in DeFi sits at about $90B, down from over $180B in 2022, even with the circulating...There has to be more value to offer to a wider range of users....In many ways, this is asset management reimagined for the internet of value: Seamless UI abstractions...
26 Min
DeFi
Apr 2025
Proof of Gamer: How KGeN is Reimagining User Acquisition
This Oracle network, along with the KGeN Store, is powered by the KGEN token....value add to their partners....across KGeN Play and KGeN Store, which in turn attracts more users....However, over time as the platform matures, we expect more users to spend the token in the KGeN Store...a wider variety of SKUs to the KGeN Store.
44 Min
Gaming
Feb 2025
The Upcoming Rise of Humanoid Robotics
“The era of robotics is here....Billions of robots, hundreds of millions of autonomous vehicles, and hundreds of thousands of robotic...The training of these generalist robots has also been underway and most of them are actually surprisingly...think of it as inevitable.
7 Min
Global Macro Themes
May 2025
State of the Charts
In this post, I will provide some technical analysis of the major L1s by means of index breadth conditions...Breadth of the Delphi L1 Index Oversold is not Overextended The percentage of constituents in the Delphi...back to January of 2023....BTC Let’s backtest the performance of BTC after each triggering of the outsized volume indicator.
3 Min
Macro & Markets
Apr 2025
Noice: Making Cents of InfoFi
Powered by Kaito, Loud distributed 45% of its token supply to users who promote Loud in a first-of-its-kind...The lack of a reliable and practical read measurement is a bit of an issue here, but there is a fair...model and utility of the Noice token....unsure about the integrity of the deal.
16 Min
DeFi
Jun 2025
Resurgence of GameFi: Update #3
GameFi — are showing signs of life....are doing a decent job of keeping the community engaged....Brought on a range of creators to increase mindshare....Dungeons of Fortune followed a similar pattern, cratering within days of its release....The token price at the time of sale implied a fully diluted valuation of $40m.
5 Min
Gaming
May 2025
A Week of Winning
...current gains and closes positive today, we will have witnessed a full business week (Monday-Friday) of...Let’s run a quick backtest to quantify the forward returns of BTC over the following 30 days after each...territory for much of the 30 day post-trigger period....After that, for at least the remainder of the post-trigger 30 day period, there is a greater than 50%...
2 Min
Macro & Markets
Apr 2025
The Waters of March
“A stick, a stone It’s the end of the road” Despite sentiment being down across much of the cryptoverse...“The shot of a gun In the dead of the night” Simply to provide a comp – not firing shots – the relative...“And the riverbank sings Of the waters of March” We ascend higher still to the Peregrine Falcon’s perspective...
2 Min
Macro & Markets
Mar 2025
Death by Design – The Fate of Ethereum
If the very few applications that actually accrue any source of value back to Ethereum are forced to...leave due to constrained DA capacity, what source of value will Ethereum have left? ...There is a recursive theme that’s inherent in the value cycle of a successful protocol layer which hinges...
7 Min
Layer 1 / L1
May 2025
Ambient: The Currency of Intelligence
Ambient positions itself as the natural unit of value for this future economy by directly representing...There must be another way to secure a network while also contributing something of value....While Bitcoin’s unimpressive 7 TPS relegates it to a store of value rather than a medium of exchange,...
6 Min
Miners
Apr 2025
Finding the Fun in Fundamentals #1 - Mythical Games
The unique value proposition of blockchain-enabled games then becomes the ability to drive some of that...This flow keeps Rivals app store compliant, maintains the flexibility to buy back the token on the backend...value is worth it....Additionally, it is important to remind ourselves that Rivals has created a full app store-compliant...
13 Min
Gaming
Mar 2025