The second half of the most recent bull market, colloquially named the "double bubble," was dominated by the "L1 Wars" narrative. The initial spark was Avalanche's announcement of "Avalanche Rush," a...

Liquid Staking Derivatives (LSDs) enable users to swap ETH in return for a derivative token that represents staked ETH. LSDs let users bypass the frictions of staking ETH: (i) the technical know-how o...

Daily active addresses on Uniswap are spiking to levels not seen since May 2021. Why is this? Well, one of the main reasons is meme tokens, of course. The current rally’s poster boy, PEPE, has rallied...

Protocols who are not able to capture the MEV they create will struggle to accrue value. This is where Skip comes in, providing the infrastructure for Cosmos appchains to capture their MEV....

Since Ethereum's Beacon chain went live at the end of 2020, over 18M ETH or 15% of the total supply has been staked in a deposit-only staking system. In this report, we consider the implication of the...

🔍 zkEVMs Launch on Mainnet Over the past few months, Optimism and Arbitrum have dominated the Ethereum layer-2 landscape. These […]...

🔍 The Arbitrum Airdrop Is Finally Here Tomorrow, Arbitrum will launch the ARB token and airdrop 12.75% of its supply, […]...

Blockchain infrastructure can be broadly summarized in three verticals: scalability, privacy, and UX. In this post, we’re going to dive into privacy....

Do you hear that? That’s the sound of 17M ETH getting ready to be withdrawn from staking, nearly $30B of ETH supply previously locked up coming onto the market ready to be sold. Or at least, this is w...

🔍 Bitcoin: More Than Just Digital Gold? In just the span of 1 month, over 100,000 Bitcoin Ordinals were inscribed […]...

In this month’s Pro Crypto Insider Talks, Delphi’s own Kevin Kelly and Ceteris join Raoul Pal, CEO of Real Vision, […]...

ZK-bridges use ZKPs to improve performance of light-client bridges without introducing new trust assumptions. Polymer and zkBridge stand out with their use of parallelizable/recursive proofs. Others w...

Ordinals are extremely interesting and far more than just "NFTs on Bitcoin." Users can store digital artifacts and data on Bitcoin’s L1 forever. Not only can users store data forever, but ordinal theo...

In our Year Ahead report, we mentioned access control/wallets as a major theme. This report will expand on the topic and look at the full picture from the perspective of wallet strategies, roadmaps, r...

🔍 The ETH Liquid Staking Derivative Wars To stake ETH, users have to run validator nodes on Ethereum, which comes […]...

🌇 Sunsetting The Delphi Daily During periods of lower activity, it becomes more important to focus on the broader […]...

🌅 Welcome! The FTX bankruptcy attorney claims to have found over $5B in assets. Have they checked all the sofas […]...

The past year was a tumultuous one for Bitcoin, with usage stagnating and miners facing increasing pressure. But there were positives as well, like the introduction of Taro....

In this report, we analyze the ETH staking market from a business and financial perspective. The end goal of this exercise is to try and ascertain these protocols' potential for value generation....

We titled this year’s report The Great Reset because we believe that’s what 2022 represented for crypto – a great reset in prices, expectations, and speculative interest all across the industry. Every...