Topics
Eleven standing desks. Each collects the coverage, the concepts and the analysis for one part of the economics of onchain markets, and each has its own feed.
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Tokenized capital markets
Securities issued, settled and serviced on programmable ledgers: government paper, funds, credit and the market structure forming around them.
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Stablecoins & payments
Dollar and non-dollar tokens as payment instruments: reserves, redemption, distribution economics and the corridors that use them.
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Market design
Auctions, order flow, settlement guarantees and incentive design: the rules that decide who captures value in an onchain market.
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Protocol economics
Where protocol revenue comes from, who it accrues to, and whether the accounting survives contact with a downturn.
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Governance
How onchain systems make binding decisions, and who is actually able to make them.
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Economic security
The cost of attacking a system versus the value it secures: staking, restaking, slashing and validator economics.
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Decentralised finance
Lending, exchange and derivatives built as open protocols, and the balance-sheet mechanics underneath.
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Prediction markets
Markets that price events, what their prices can and cannot be read as, and their regulatory position.
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Regulation
Statutes, rules and supervisory practice across jurisdictions, tracked as they change rather than as they were announced.
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Institutions
Banks, asset managers, exchanges, custodians and central banks: what they have actually deployed, not what they have signalled.
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Africa & emerging markets
Currency substitution, remittance corridors and settlement gaps in economies where the demand for dollar liquidity is structural.