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.
5,922 documents
This market snapshot examines trading and DeFi activity after the SEC brought cases against Binance and Coinbase, including tokens named in the allegations. It compares centralized exchange market share and volumes, selected token activity, decentralized…
The article argues that financial institutions entering decentralized finance can initially partner with established DeFi projects rather than build protocols themselves. It says partnerships may shorten development time and combine a bank’s regulatory and…
The article contrasts Uniswap's constant-product automated market maker with Hummingbot, a configurable algorithmic trading platform. Uniswap liquidity providers deposit token reserves and earn swap fees under a preset pricing rule. Arbitrageurs help keep…
This overview explains how Ethereum liquid staking converts staked ETH into a tradable or lendable liquid staking token. A staking provider holds or routes the ETH for validation, while the token represents the staked position and allows the holder to use it…
This market snapshot connects Bitcoin’s price swings between $60,000 and $70,000 with policy headlines, spot demand, ETF holdings, and Mt. Gox repayments. It cautions that a large change in reported ETF holdings can reflect a transfer between investment…
This market snapshot reviews crypto developments heading into 2024, including regulatory disputes, proposed legislation, accounting changes, and security incidents. It then examines spot Bitcoin trading, decentralized exchange liquidity and volumes, DeFi…
This document explains how MakerDAO liquidates undercollateralized lending vaults. It describes how collateral value and outstanding DAI determine a vault’s health, and how Keepers can trigger auctions when collateralization falls below the asset-specific…
The document explains Runes, a protocol for creating fungible tokens on Bitcoin. Rather than relying on inscription data attached to individual satoshis in the manner described for BRC-20 tokens, Runes uses Bitcoin’s UTXO transaction model. Transaction…
This technical overview introduces hash-linked data structures through Merkle trees, reserve proofs, Git history, and Bitcoin blocks. It explains how hashes make changes detectable, how a user can verify inclusion in an aggregated balance tree without seeing…
This report reviews stablecoin market developments from January through mid-April 2025, combining Ethereum-network market capitalization figures with regulatory and industry events. It describes changes in the reported supplies of USDT, USDC, DAI, PYUSD,…
The document outlines metrics for evaluating DeFi protocols and tokens: total value locked (TVL), market capitalization, trading volume, network value to transaction (NVT), token supply, and cross-exchange prices. It distinguishes TVL, which reflects assets…
The document explains that stablecoin returns generally come from lending or depositing tokens with centralized platforms or decentralized lending protocols. It distinguishes custodial services from on-chain options, where rates can vary with borrower…
The article surveys regulatory considerations for institutions handling digital assets. It describes the division of U.S. oversight among agencies responsible for securities, derivatives, tax, financial crime controls, and banking, and discusses Bitcoin…
This podcast recap describes Push Protocol as a cross-chain communication layer for Web3 applications, wallets, and users. Its notification use cases include alerting traders to margin and leverage conditions on a derivatives venue, informing liquidity…
This document summarizes a Q2 2024 survey of 100 senior digital asset professionals and interviews with industry contributors. Respondents report existing crypto allocations and expectations for further adoption. They also describe potential blockchain…
The document defines algorithmic stablecoins as digital assets designed to track fiat currencies, usually the US dollar, without relying on backing by real assets. Instead, their mechanisms use algorithms, commonly by adjusting circulating token supply in…
This primer introduces over-collateralized stablecoins and compares their design with fiat-backed and algorithmic tokens. It outlines how collateralized tokens can be minted against crypto assets, how excess collateral and incentives can support a fiat peg,…
The document asks why providing liquidity to Uniswap is described as a negative-gamma strategy. It frames liquidity provision as a dynamic exposure: traders exchange the pooled assets, so the provider’s holdings shift as the relative price changes. This…
The document introduces asset-backed securities (ABS) and mortgage-backed securities (MBS), including structures such as collateralized mortgage obligations and collateralized loan obligations. It frames these products as difficult for retail investors…
The document outlines failure risks for a synthetic-asset system in which users stake collateral to issue tokens tracking assets such as currencies, crypto, or stocks. It focuses on two vulnerabilities: collateral and debt dynamics, and dependence on…
The document explains TerraUSD’s failure as a problem in the relationship between its dollar peg and Luna, the associated cryptocurrency. In the simplified account, the system relied on reducing TerraUSD supply when holders sought to exit, with Luna serving…
The document describes Tomarket as a Telegram-based platform on TON that combines games, token rewards, referrals, and trading. Its examples include task-based token harvesting, a planned mystery game, a referral event with tiered rewards, and a level system…
The document explains Hyperlane as a permissionless protocol for sending data and instructions between blockchains, alongside token transfers. It describes the path from a source-chain Mailbox through an off-chain relayer to a destination-chain Mailbox,…
The article defines crypto savings as holding digital assets in yield-bearing arrangements and identifies lending, staking, and decentralized finance platforms as possible sources of returns. It contrasts the potential for higher yields with conventional…