Category Archive

The Oracle Problem One of the major issues with blockchain technology and smart contracts is the inability to naturally connect to external data sources. As most world data remains off-chain, blockchain networks are facing an uphill battle in generating real-world applications. The second part of the problem is blockchains need to be able to trust the validity of off-chain data …

Introduction The top 50 most valuable protocols all have circulating market caps of at least one billion. Why do these tokens, many of which have unproven business models, trade at such high valuations? One of the core assumptions behind these valuations is that the protocol will someday mature to have product-market fit, justifying its current market value. For protocols that …

Introduction Video games have captivated users since the dawn of digital technology. In 1972, Atari Inc. released Pong, a simple arcade ping-pong game that helped launch the evolution of gaming. Popular games such as Pacman, Asteroids, and Space Invaders paved the way for future gaming consoles like Nintendo, Gameboy, PlayStation, and Xbox. Gaming has transformed even more in recent years …

What is [Crypto] Governance? Strong governance models have been catalysts for the golden ages of progress, while poor governance models have propelled humanity into the dark ages of regression. Governance models establish formal procedures for conducting the policy, actions, and affairs of a state, organization, or people. They enable systematic decision-making to move groups with shared interests forward. Governance and …

Introduction Human nature and gambling have been linked together as far as history goes back. Pick any time period, and there is evidence of humans wagering on games in one way or another. Whether it was betting on your favorite gladiator in the Colosseum or strolling into a Vegas casino and playing the slots, history has proven that humans love …

What are Exchange Tokens? Centralized exchanges are centerpieces in the crypto industry and have garnered some of the highest historical valuations in both private and public markets. Despite their core function in the space, we have seen that they can be highly cyclical, and their performance is most often dependent upon price action. Further, the business model and value proposition …

Introduction to Crypto Concepts: Crypto is a unique asset class that blends macro, venture capital, and deep tech expertise. With that in mind, Crypto Concepts are thematic research pieces that discuss emerging topics or concepts in the digital asset industry. These notes are meant to serve as educational pieces that provide context to any strategic insights provided in other products. …