Blog
Writing
Notes from the team on privacy, onchain markets, and the technology behind the private market for onchain finance.
Why every trader loses money
Everything wrong with crypto social trading, and why, a decade later, it never grew. One structural flaw makes the good trader, the follower, and the venue all lose at the same time, and the one change that removes it.
Read→Everything wrong with user-led vaults (right now)
User-led vaults were sold as decentralized funds but shipped as extraction machines. Why the depositor loses, the operator loses, and only the house wins, and the architecture that actually fixes it.
Read→The Block (Value) Chain
Crypto built the most cryptographic system in history and still can't keep your money private. Why privacy and legitimacy, not scale, are the two bugs standing between today's chains and the next trillion onchain.
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