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As we saw in May, liquidation events across crypto spilled over into Terra’s ecosystem....Overall TVL has grown to ~$16.6B, cementing Terra as the second-largest L1 ecosystem behind Ethereum...Another aspect of the ecosystem that’s being developed is Terra’s gaming sector....on the success of the Terra ecosystem.
Report
23 Min
Stablecoins
Dec 2021
That pivot is already showing up in the ecosystem....With the proper foundation in place, Avalanche is entering a new stage of ecosystem growth....Maplestory N runs on Henesys, their own Avalanche L1 tailored for the MSU ecosystem....Fast finality and seamless interop with the larger Avalanche ecosystem remain.
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18 Min
Infrastructure
Jul 2025
But how has Polygon’s gaming ecosystem fared?...This report will cover the Polygon gaming ecosystem through the 2022 bear market — an analysis of top...The same has been true for DeFi, but not for Polygon’s gaming ecosystem....Most pools consist of token pairs from other gaming ecosystem tokens within the Animoca Brands ecosystem...
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16 Min
Gaming
Dec 2022
This decentralized gaming ecosystem, which includes a number of different games, NFT projects, and tools...But before we talk about the organization and how it has become the leading gaming and NFT ecosystem...TreasureTags are essentially an ENS derivative for the Treasure ecosystem.
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30 Min
Gaming
Mar 2023
Soars
We continue to observe increased traction and user interaction on Cosmos as more apps join the ecosystem...EVMOS (previously Ethermint) will allow EVM-compatible applications to integrate into the Cosmos ecosystem...Osmosis Trading Volume Picks Up
In our research report on the Cosmos ecosystem back in September last...
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4 Min
Layer 1 / L1
Jan 2022
In this report, we explore three major PFP ecosystems and delve into how they are positioning themselves...PFP Collections Are Building Ecosystems
We derived market capitalization using Nansen’s Price Estimates...BAYC’s dominance in the PFP ecosystem is notable, with a market cap more than four times larger than...
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24 Min
NFTs
Feb 2023
Commonly referred to as development, ecosystem, or incentivization funds, these initiatives invariably...Exhibit C
Harmony joined the ranks of Avalanche and Fantom when it announced its own ecosystem fund on...Exhibit D
NEAR made a belated entry to the scene, announcing its $800M ecosystem fund on October 25th...
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17 Min
Layer 1 / L1
May 2023
This year, not only will we see new games onboarding thousands of players into the crypto ecosystem,...Each week, the Delphi Gaming team will select a gaming ecosystem to highlight that aims to have playable...Immutable X
The Immutable X ecosystem is coming out of the gate strong, riding atop both gaming and ZK...
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4 Min
NFTs
Feb 2022
Every prominent ecosystem has at least one DEX, and the current leader for Cosmos’ is the app-chain Osmosis...Interchain/Superfluid Staking
The impressive traction that Osmosis achieved within the Cosmos ecosystem...This change in the number of LUNA is communicated to the Terra Hub via IBC – therefore becoming interchain...
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10 Min
AMM
Mar 2022
On the second pillar, there’s been a big shift in core approaches to ecosystem building since 2020-22...While the broader ecosystem may trail the larger chains, the fundamentals are showing solid progress...Aptos is in a nascent stage of value creation and ecosystem building....As of today, the Aptos ecosystem has made significant progress on the first item.
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39 Min
Infrastructure
Jun 2025
Jose Macedo, Head of Delphi Labs, provides a flash update on the recent Delphi report addressing Terra... Jose Macedo, Head of Delphi Labs, provides a flash update on the recent Delphi report addressing Terra...
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1 Min
Macro & Markets
May 2022
Topics
Market Update – Macro, S&P500 & Bitcoin
Terra Update – LUNA/UST/ANCHOR
Market Update...With the reasonable assumption that UST leaving Anchor is entirely exiting the Terra ecosystem this is...Topics Market Update – Macro, S&P500 & Bitcoin Terra Update – LUNA/UST/ANCHOR Market Update Souring...
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7 Min
Stablecoins
May 2022
Major ecosystem growth in consumer crypto, RWAs, and AI, with chains like Abstract, Sophon, and GRVT...The Elastic Network is a growing ecosystem of interoperable ZK Chains....In practice, the Elastic Network offers unique benefits to ZK Chains in its ecosystem....AI projects in the ecosystem. ...
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19 Min
Infrastructure
May 2025
...for no extra investment- investors will secure an allocation worth 40% of their investment from an ecosystem...The ecosystem fund will invest in early projects in the Avalanche ecosystem and will distribute tokens...Ecosystem Fund: Given the undefined length of the ecosystem fund, we are not committing to a set distribution...
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2 Min
Layer 1 / L1
Sep 2021
Despite the recent market turmoil, the Solana NFT ecosystem is still alive and well....Trading volumes have fallen modestly in June, mirroring the general trend of NFT ecosystems on other...It remains to be seen if the ecosystem will continue to thrive and flourish....Some provide holders with utility that is directly relevant to the ecosystem (e.g Doodle’s Dooplicator...
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12 Min
NFTs
Jun 2022
Weekly Highlight – The Treasure ($MAGIC) ecosystem
Synopsis: There has been a lot of buzz in recent weeks...Treasure DAO’s vision is a decentralised NFT ecosystem for metaverse projects, currently built on Arbitrum...Treasure Ecosystem: Currently, there are 3 main live projects/games.
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11 Min
NFTs
Jan 2022
The developments made during the bear market are paying off. Innovation on Ethereum continues at a torrid pace thanks to the composability of lego blocks built in DeFi. In this issue, we dive into var...
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1 Min
Layer 1 / L1
Feb 2021
Upcoming Catalysts for Cosmos
Columbus 5 – The highly anticipated Mainnet upgrade to Terra scheduled...for September 30th, which will see Terra add support for IBC....While this is arguably more bullish for Terra itself, there should be a trickledown impact that benefits...
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14 Min
Layer 1 / L1
Sep 2021
Money continues to flow into DeFi across various chains, and a scary week for the Terra ecosystem has...Key Takeaways
Terra suffered a scare as the network’s native stablecoin, UST, de-pegged from the dollar...Notably, one might expect TVL in Ethereum DeFi to fall less than other ecosystems during downtrends given...
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3 Min
DAO
May 2021
Today, Solana is the second-largest NFT ecosystem after Ethereum in terms of NFT transaction volume....The ecosystem is as vibrant as ever....We’ll first dive into the current state of Solana’s NFT ecosystem and usage metrics....Solana NFT Ecosystem – Key Usage Metrics
With this in mind, let’s dive into some key metrics.
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23 Min
NFTs
Feb 2023