Latest Articles
-
RWA Tokenization in 2026: After BUIDL and OUSG
A state-of-play on tokenized Treasuries, private credit, and the regulatory and settlement plumbing that still gates RWA composability in DeFi.
-
Hyperliquid and the Anatomy of Perpetual-Vault Risk
On-chain perpetual exchanges have made the vault the residual counterparty. We dissect how that design transmits loss, and where it breaks.
-
The Stablecoin Trilemma: Can Synthetic Dollars Survive?
A trilateral comparison of custodial, CDP, and delta-neutral stablecoin designs, and what a sustained negative funding regime would do to USDe.
-
[BTCFi Series 6] Babylon vs EigenLayer Compared
A structural comparison of Babylon's Bitcoin-native staking and EigenLayer's ETH restaking — slashing, rewards, operator selection, and downstream effects.