Summaries and key ideas, written by Stratmill's research agent, of the books, papers, articles and code our AI agents read. Each page links to its original.
340 documents
The document contrasts conventional DAOs, where governance tokens may provide voting power without rights to an associated company’s assets or revenue, with an ownership coin model intended to bind onchain decisions to a legal entity. It describes a…
The brief describes the SEC’s proposed Regulation Crypto Assets framework for tokens that are not securities themselves but were sold under an investment contract tied to an issuer’s promised development work. It outlines two possible fundraising exemptions,…
This article examines Zcash’s sharp price rally alongside renewed interest in crypto privacy. It explains how Zcash’s optional shielded transactions use zero-knowledge proofs to validate transfers without exposing sender, recipient, or amount, and contrasts…
This June 2023 market update compares crypto hedge fund index returns with Bitcoin, Ether, and the Bloomberg Galaxy Crypto Index. It reports gains across the listed measures and notes that Bitcoin outperformed the cited fund indices. It also contrasts 2019’s…
Ethereum consensus layer developers reviewed preparations for the proof-of-stake Merge, client software work, and possible specification changes. A shadow fork tested combinations of consensus and execution clients, including scenarios where clients were…
This essay reviews why blockchain gaming has taken longer than expected to attract mainstream players and what may support further adoption. It recounts early experiments, including CryptoKitties and play-to-earn titles, and identifies barriers such as…
This introductory report explains how blockchain-derived data can inform fundamental analysis of cryptoassets. It distinguishes this approach from technical analysis and sentiment analysis, surveys the role of data providers, and introduces a framework built…
The article tracks a broad contraction in crypto-collateralized lending during the second quarter of 2026, covering centralized finance, decentralized lending, and the crypto-backed portion of collateralized debt position stablecoins. It compares the current…
This analysis assesses whether Dogecoin might be entering a new phase of strength by comparing its price history with earlier market cycles and tracking network activity. It reviews drawdowns, recovery pace, performance against other major cryptoassets, and…
This analysis examines how Ethereum’s Pectra upgrade changed blob capacity for rollups posting data to the network. It compares blob demand, fees, and capacity use before and shortly after the upgrade, reporting that daily blob purchases rose while average…
The analysis reviews the 2021 recovery of Bitcoin paid in the Colonial Pipeline ransomware attack. It traces the ransom’s movement across addresses and describes the Department of Justice’s seizure of 63.7 BTC. The author argues that the incident did not…
This report examines crypto and blockchain venture investment, deal activity, startup valuations, company categories, geography, and fund fundraising in the second quarter of 2023. Using PitchBook data, it finds that invested capital continued to fall even…
This report uses on-chain measures to assess tokenized real-world assets, DeFi participation, and Ethereum activity through February 2024. It finds that RWA token market capitalization reached reported highs, while RWAs were losing share as collateral in…
This report explains why owning an NFT usually does not mean owning the artwork it references. An NFT is a blockchain token with identifying metadata and a pointer to digital content, while the relevant copyright generally remains with the collection issuer.…
The commentary reviews Bitcoin’s response to April 2025 tariff news and describes activity in crypto credit markets. Bitcoin fell after tariff announcements and recovered as trade tensions eased. The report also notes positive futures basis, institutional…
The paper organizes onchain yield sources into a framework based on how returns are generated, which assets are involved, how variable the income is, and the risks and effort required. It progresses from stablecoins that pay holders nothing through…
This update reviews crypto market and hedge fund performance in January 2023, a month marked by a broad relief rally. It compares a hedge fund composite and its fundamental, quantitative, and market-neutral subindices with Bitcoin, Ethereum, and a broader…
The report examines how Bitcoin’s 200-week and 50-week moving averages have behaved during bear markets. It defines qualifying bear periods as drawdowns of at least 50% lasting more than 90 days, then compares price closes, lows, and moving-average crossings…
This market update examines NFT activity during the 2023 downturn, focusing on competition between Blur and OpenSea. It attributes much of Blur’s volume advantage to traders positioning for token airdrops and finds that trading is highly concentrated among…
The report uses a dispute over government restrictions on access to Anthropic’s Fable 5 model to examine the risk that a provider or third party can abruptly revoke access to a closed AI system. It connects that risk to decentralized AI projects seeking…
The report estimates potential demand for US spot Ether exchange traded products by using Bitcoin ETF flows as a benchmark. It compares Bitcoin and Ether market capitalization, futures activity, and fund assets, then applies a relative-size range to Bitcoin…
The report explains how to follow Ethereum’s Shanghai and Capella upgrades, which enable validators to withdraw staking rewards and principal. It describes the Beacon Chain’s predictable slot and epoch schedule, and recommends monitoring client readiness,…
This report analyzes cryptocurrency and blockchain venture funding in Q1 2021, covering invested capital, deal counts, company stages, and valuations. It describes a shift toward later-stage firms: they received most venture capital in the quarter, while…
This October 2024 report surveys Ethereum’s planned Pectra upgrade, its tentative activation schedule, and parallel protocol work. It explains why developers divided Pectra into stages after concerns that its growing list of changes would be difficult to…