Deep Dive Research

Long-form protocol & market structure analysis.

First-principles analysis of protocols, markets and listed crypto companies.

• The Modular Stack Thesis: Beyond Ethereum — 2026.01.24
• Algo-Stablecoins: A Post-Mortem Analysis — 2026.01.10
• An Overview on Instituion Flowing into ETF and DAT — 2026.01.09