BTC speculators are capitulating on spot holdings, DeFi rates follow DeFi prices, USDC expands its market share, and OpenSea sustains high monthly volumes....

China Piling Up FUD, Miners Net Dumping, and Hashrate Decentralization....

Lending protocols within DeFi predominantly use fixed interest rate models to price loans. In this report, we explore an alternative pricing solution which we believe to be more capital efficient and...

Lending protocols within DeFi predominantly use fixed interest rate models to price loans. In this report, we explore an alternative pricing solution which we believe to be more capital efficient and...

ETH/BTC nearly retraces dip, Convex and Yearn's battle for veCRV, and receding spot volume....

In this piece we explore Anchor, Terra's new savings protocol. Specifically, we dive into how it works, the details of its upcoming distribution and what it means for the Terra ecosystem as a whole....

Alchemix, a “future-yield-backed synthetic asset platform,” went live this weekend and has already absorbed close to 190M in DAI TVL.  While TVL growth is primarily driven by ALCX farming, the Alchemi...

Aave, Compound and Maker's combined circulating market caps sit at a lofty $9.95 billion, having grown +46% over just the past 24 hours. The majority of those gains came from Aave alone, which added $...

While prominent blue chips dominate secured lending, unsecured lending is still perhaps the least penetrated vertical in all of DeFi. Teller is looking to change that by bringing existing credit score...

On November 10th, we put forth a proposal to fundamentally revise Aave’s current token architecture. Having received excellent feedback from the community, we are thrilled to present V2 which incorpor...

Despite being the largest DeFi protocol by TVL, Maker's governance token, MKR, has underperformed fellow blue chips by a wide margin YTD. Let's dive into a few reasons why that might have happened....

In this piece I share my thoughts on the recent ARC posted on the Aave governance forum that touches on some important upgrades to the Aave Safety Module....

In this video, we walk through our recent Aave proposal where we suggest a fundamental change to the current token architecture. Our goal with this is to move Aave towards becoming a credit protocol r...

Having worked closely with the Aave team for months, in this post we propose a new token architecture for Aave that we believe will lead to greater capital efficiency, innovation and robustness....

Having worked closely with the Aave team for months, in this post we propose a new token architecture for Aave that we believe will lead to greater capital efficiency, innovation and robustness....

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...

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....

This July, CREAM Finance launched; a decentralized money market protocol and fork of Compound to allow users to lend or borrow different tokens....

KeeperDAO is an on-chain liquidity underwriter for DeFi. Using KeeperDAO, people can pool their assets to earn passive income through liquidations, arbitrage, and other opportunities from all across D...

Our inaugural monthly Ethereum Ecosystem Analysis report - special edition for ETH's 5th birthday. We dig into the Ethereum ecosystem led by DeFi and unpack the latest on the road to Eth 2.0....