Our second Delphi Digital’s Febuary analyst call features a discussion on BTC, Terra, Cosmos, NXM, NFTs and Aggregators....

Our February Analyst Call in an updated format where we cover Bitcoin, Ethereum, SUSHI, UNI, NBA TopShots, Mirror, Luna, and more!...

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...

Mirror Finance is a new synthetic asset protocol built on top of the Terra blockchain. While Mirror ($MIR) is attracting much of the attention right now, we’ve pursued a different strategy by investin...

Frax Finance leverages a two-token model to create an algorithmic, partially-collateralized stablecoin. In this report, we analyze the design mechanics and explain the rationale behind our yield farmi...

This model accompanies the Frax Finance research report. To calculate boosted staking APYs, you can toggle different base yields, collateral ratios and days locked....

We decided to take this opportunity to create our first subgraph on The Graph to allow us to get the data we need, and also to make this data more accessible to others in the future. In this daily we’...

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....

Will the new STABLE Act stifle innovation or is it a political wish list with no path forward?...

Empty Set Dollar (ESD) is an elastic, algorithmic stablecoin that uses in-built monetary incentives to maintain its peg. The protocol is still experimenting with the overall mechanism design with an a...

Empty Set Dollar (ESD) is an elastic, algorithmic stablecoin that uses in-built monetary incentives to maintain its peg. The protocol is still experimenting with the overall mechanism design with an a...

Keeping up with content these days has become increasingly hard, which is why we’re excited to announce our new monthly Delphi Research Recap! From now on, we’ll be releasing a monthly digest highligh...

Keeping up with content these days has become increasingly hard, which is why we’re excited to announce our new monthly Delphi Research Recap! From now on, we’ll be releasing a monthly digest highligh...

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...

Pickle is a new protocol with the basic goal of using farming incentives and strategies to bring stablecoins back to their pegs. This strategy is cycle agnostic and can generate alpha in DeFi bull or...

In this report, we dig into Bitcoin’s outlook amidst an uncertain macro backdrop. We unpack notable long-term miner, exchange, and holder base metrics, as well as touch on where Bitcoin could move in...

We explore the parallels between AMMs and Airlines and discuss the long-term value extraction potential of AMM governance tokens...

Compound started a chain reaction with its COMP token for yield farming; YFI, YAMs (which kept everyone awake during its 24 hour rise and fall), and now BASED....

The BlackHoleSwap’s whitepaper and its “Unlimited Liquidity” claims have made its rounds over Twitter and Telegram this week. Let's dive in....

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....