This draft builds upon Commissioner Peirce's Safe Harbor 2.0, proposing an interim regulatory approach intended to address current market needs while permanent rulemaking and legislative efforts are i...

Programmable asset ledgers will eat the world. The following essay explains how....

EVM chains have forever been optimizing for scalability but have always lagged behind alt VM chains like Solana, Sui, and Aptos when it comes to throughput and latency. But now we have a lineup of sev...

We believe that over the next 12-18 months there will be increasing interest in gaming projects that prioritize sustainable monetization over speculative hype. This report examines Mythical Games and...

Is the market fairly pricing Hyperliquid? This comprehensive analysis breaks down Hyperliquid's three-pillar architecture — perps trading, spot markets, and HyperEVM — and aims to highlight the headwi...

Squads has grown from a simple multisig solution into the foundation of Solana's treasury management infrastructure. With over $10B in secured assets across 300+ teams, Squads has become an essential...

The AI application bubble has only just begun. RL, distillation, inference time compute: the cat is out of the bag. Even if models were not scaling along four vectors (which they are) and the capabili...

This report analyzes the challenges in the gaming industry, focusing on distribution and user acquisition, and explores opportunities in the Global South. It introduces KGeN, a blockchain-powered gami...

If the appchain thesis holds and every major app launches its own L2, they’ll need more than just pure infra; they’ll need a full-stack solution. This is where Initia steps in—offering customization w...

Welcome back to Market Musings, our weekly memo covering timely market happenings. A lot has happened in the short period of time since last week’s Musings, so let’s hop straight into it! The centr...

This report explores Zenrock’s innovative approach to cross-chain communication through its distributed Multi-Party Computation (dMPC) technology and the transformative applications it enables, with a...

History suggests that markets often favor solutions that deliver tangible value, even when they involve calculated trade-offs. The success of Solana, despite initial centralization concerns, shows how...

Welcome back to Market Musings, our weekly publication designed to keep our readers informed about the most important and timely developments in the crypto market. It has been a while since our last p...

Our latest report explores ZKsync's transformation from a Layer 2 scaling solution into the Elastic Network, a groundbreaking ecosystem of interoperable ZK Chains positioned to revolutionize instituti...

zkVerify is a modular L1 blockchain designed to become the universal verification layer for zero-knowledge proofs (ZKPs). Developed by Horizen Labs, zkVerify addresses critical challenges in ZKP imple...

One of the biggest risks heading into to 2025 was that just about everyone was bullish. When consensus starts to gravitate towards one side, it doesn’t take much to rock the boat. Now, just over two w...

Virtuals has established itself as the casino of choice on Base, with fundamentals that measure up nicely to PumpFun and AI16z. Clanker has an emerging ecosystem that warrants consideration here as we...

2025 is poised to be a big year for both DeAI and DePIN, two crypto sectors we expect to continue outperforming as Bitcoin charts it’s course into the unknown. We expect 2025 to be the year where main...

The report outlines critical trends, innovations, and challenges expected to shape the decentralized finance (DeFi) landscape in 2025....

A few years ago the main excuse for why we didn’t have great applications was that the infra wasn’t ready. Fees were high, UX was bad and transactions were slow. Today, that’s no longer the case. With...