We support the builders of critical Web3 infrastructure
Stablecoins: Crypto’s First Killer App
This piece benefited immensely from the feedback offered by Align Labs and Grateful. The U.S. Treasury now forecasts that the stablecoin market could grow to $2 trillion by 2028, assuming legislative clarity and increased adoption across payments, reserves, and settlement use cases. Stablecoins are providing a critical lifeline in regions with limited financial access by enabling reliable, digital access to the U.S. dollar. Indeed, a recent report from Castle Island Ventures found that among ...
Stablecoins: Crypto’s First Killer App
This piece benefited immensely from the feedback offered by Align Labs and Grateful. The U.S. Treasury now forecasts that the stablecoin market could grow to $2 trillion by 2028, assuming legislative clarity and increased adoption across payments, reserves, and settlement use cases. Stablecoins are providing a critical lifeline in regions with limited financial access by enabling reliable, digital access to the U.S. dollar. Indeed, a recent report from Castle Island Ventures found that among ...
Should you launch a token?
What are tokens used for?How can a decentralized protocol accrue value and pay its participants? Blockchain-based native tokens are the answer to this question. Native tokens of crypto protocols can be categorized into two main clusters of use-cases:Incentivization & DistributionCapital formationThis article will elaborate on these use-cases to equip readers to determine whether a specific protocol or product should launch a token or not. Note that we are considering native tokens and excludi...
Should you launch a token?
What are tokens used for?How can a decentralized protocol accrue value and pay its participants? Blockchain-based native tokens are the answer to this question. Native tokens of crypto protocols can be categorized into two main clusters of use-cases:Incentivization & DistributionCapital formationThis article will elaborate on these use-cases to equip readers to determine whether a specific protocol or product should launch a token or not. Note that we are considering native tokens and excludi...
Beta on ETH or Better than ETH?
The tl;drThis post explores daily price performance of public Web3 tokens compared to Ethereum (ETH). We estimate and analyze the Alpha and Beta of around 150 assets over four years, leading to some key insights:Most tokens have negative Alpha.This isn't necessarily bad. In high-funding environments, trading into high Beta assets with negative Alpha can be cost-effective.However, most of these assets also have a Beta lower than 1.57% have a Beta lower than 1.Only 30% of assets have posit...
Beta on ETH or Better than ETH?
The tl;drThis post explores daily price performance of public Web3 tokens compared to Ethereum (ETH). We estimate and analyze the Alpha and Beta of around 150 assets over four years, leading to some key insights:Most tokens have negative Alpha.This isn't necessarily bad. In high-funding environments, trading into high Beta assets with negative Alpha can be cost-effective.However, most of these assets also have a Beta lower than 1.57% have a Beta lower than 1.Only 30% of assets have posit...
How to airdrop in 2024
In 2023 and 2024, airdrop hunting has become a popular activity among crypto enthusiasts. Social media is abuzz with influencers promoting new opportunities. Automated bots and even dedicated funds for airdrop farming have emerged. Recent large airdrops like Starknet and Eigenlayer have sparked controversy over their distribution choices among disgruntled users. This article aims to provide a balanced overview of airdrops in 2024, helping founders decide if an airdrop is right for them and ho...
How to airdrop in 2024
In 2023 and 2024, airdrop hunting has become a popular activity among crypto enthusiasts. Social media is abuzz with influencers promoting new opportunities. Automated bots and even dedicated funds for airdrop farming have emerged. Recent large airdrops like Starknet and Eigenlayer have sparked controversy over their distribution choices among disgruntled users. This article aims to provide a balanced overview of airdrops in 2024, helping founders decide if an airdrop is right for them and ho...
Points: A Mechanism Design Guide
Points programs are the new meta in crypto. Points were pioneered by the NFT marketplace Blur and used by major projects from Friend.tech to Eigenlayer. In a nutshell, points are loyalty scores designed to encourage usage, usually stored off-chain. Points are non-transferrable and are issued entirely at the discretion of the project. On a first glance, they seem similar to traditional loyalty schemes from airline miles to retailer loyalty points. “What is the big deal about points, then?”, so...
Points: A Mechanism Design Guide
Points programs are the new meta in crypto. Points were pioneered by the NFT marketplace Blur and used by major projects from Friend.tech to Eigenlayer. In a nutshell, points are loyalty scores designed to encourage usage, usually stored off-chain. Points are non-transferrable and are issued entirely at the discretion of the project. On a first glance, they seem similar to traditional loyalty schemes from airline miles to retailer loyalty points. “What is the big deal about points, then?”, so...
