As analysts, a key part of our research involves spending time reading and engaging in community governance discussions. In this post, we highlight a recent discussion we participated in on the Aave g...

Late last year, Delphi Digital was contracted to help structure Axie Infinity’s ERC 20 governance token. Our immediate goal was to thoroughly understand the existing and future in-game dynamics such t...

The Graph’s incentive model iterates on comparable incentivised prediction/curation models from Steemit, prediction markets, Aragon Court and many more. Such models are enabled by token economic desig...

The recent Bitcoin price rise has sucked the air out of alts and also brought back to the fore tensions between the Bitcoin and DeFi communities. In this post, we argue that these tensions are short-s...

Keep an eye on Flow as they leverage their unique market insights into creating a network specifically for open worlds. If they can build upon their early momentum in the partnerships domain, then the...

AMMs and IL are hot topics on crypto-twitter at the moment. With that in mind, let’s look at Bancor’s new v2.1 AMM design....

Since our Aragon Court Report earlier this month, a lot has happened with the project. Here’s a rough timeline of events until today for our Institutional members....

Rising risks of insolvency and deflation could serve as a headwind to Bitcoin and crypto, but the long-term consequences highlight the value proposition of digital scarcity....

Our proposal to pause MCR has been successfully accepted. We walk through what happens next....

Liquidity incentive programs have become a cornerstone of growth strategies for projects in the space. Today, let’s take a look at an important question: do vested rewards work?...

As we transition to more community owned projects, this in turn means greater accessibility to project treasuries. We take a look how treasury management has evolved to greater align with long term in...

Certus One has released Wormhole, a bidirectional bridge ERC-20 and SPL Token bridge between Ethereum and Solana....

SBF borrows big from Aave and YFI volatility ensues. We try to piece together the strategy of one the top traders in crypto using on-chain data....

As the DeFi sector started to cool down following triple digit percentage gains, yEarn’s ability to generate cash flows has deteriorated. The yEarn core team announced the initial spec for yVaults v2,...

In this report, we explore an eclectic mix of the artists contributing to the growing Crypto Art ecosystem. We provide an overview of the marketplaces currently available, as well as brief commentary...

October 15th is the final extension deadline to submit tax returns for the 2019 tax year. Our team felt it would be helpful to put together a brief report to help all our clients better understand thi...

Breaking down the BitMEX takedown and its implications for DeFi and crypto writ large. Perhaps neither bullish nor bearish, it serves as a reminder there may have to be some compromises along the way...

Continuous securities offerings are a way to align incentives between a company and its key stakeholders more directly in a world in which strong community engagement will become increasingly importan...

In our recent report on Nexus, we discussed the opportunity and importance of smart contract insurance to hedge technical risk. There are other forms of risk in need of mitigation as well though, and...

The composable nature of Ethereum begets the layering of defi primitives and assets. One clear, but a generally underappreciated example of this is smart’ stablecoins. While catalyzed by the yield far...