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Uniswap Governance Update
In this short note, we summarize our understanding of Uniswap's latest progress surrounding the fee switch.
Asa Li
Sep 11, 20234 min read

Uniswap: Solid Fundamentals and Its Road to the Global Liquidity Layer
This data-driven research is all about Uniswap's fundamentals and its road to an open global liquidity layer.
Lydia Wu
Sep 8, 202311 min read

(Over)simplified: Quantifying Frax the CRV Farm + Hype Machine
TLDR Frax is essentially a CRV Farm that rewards TVL with CRV emissions. Frax pools currently control 35% of CRV emissions, we estimate...
Asa Li
Aug 24, 20235 min read

Counterpoint on Lido (LDO): Declining Momentum and Overshot Expectations
a short note on what we see as the worse-than-expected adoption of stETH and Ethereum Liquid Staking in general.
Asa Li
Aug 16, 20237 min read

Our Questions About Web 2.5 Gaming
Today, the dominant crypto gaming "meta" is broadly speaking variations of "Web 2.5 Gaming", to which we have several questions.
Asa Li
Mar 13, 202311 min read

(2/2) The (Pragmatic) Token Maxi: an Investor's Perspective
Tokens are the ultimate vehicle where value, commerce, and laws travel at the speed of light.
Simiao Li
Nov 24, 20224 min read

(1/2) Ultra-Liquid Crypto Capitalism
How will tokens challenge digital feudalism for capitalism's next evolution?
Simiao Li
Nov 24, 20225 min read
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