The quietest but most exciting category expansion going on crypto right now isn't stablecoins or tokenized stocks, but the reemergence of tokenized strategies. After DeFi summer, the only thing left standing here were LSTs. Yearn TVL died down, most "farms" disappeared, long tail credit facilities were hacked or died off, yield sources were few and far between, and fixed rates were no longer interesting as yield sources (mostly staking or lending) had no little-to-no volatility. This is all changing. An entire supply chain is being built to bring new tokenized strategies to market : - Critical Vault & CeDeFi infrastructure - Reputable Risk curators, Strategists & Asset Managers - Isolated Lend-Borrow markets for rapid credit listings - Reemergence of fixed rates Everything the industry wasn't ready to sustainably offer in 2020-2021 is finally reaching product-market-fit now. And it's driving more growth to actual DeFi applications than stablecoins despite there not yet being a comparatively large or cohesive narrative tracking it. The design and use space to explore for tokenized strategies is massive. Infinitely programmable and composable funds of all types. Have a feeling the narrative will catch up.

Interactive interface to imagine @3janexyz 's loan writedown process, quite cool! Interactive DeFi explainers should become a default!

Would definitely recommend checking out this piece we just released on yield-induced price drift in RWA assets, and how it breaks AMM liquidity. In short: 1. Narrow positions go out-of-range 2. Wide positions lack depth 3. Active rebalancing is manual and inefficient

Seems as though the DAT phenomenon is quite divisive, wanted to share some thoughts on why we thought this was a worthwhile pursuit:

Staking TIA was the worst financial decision of my life.

Stablecoins as global credit allocators is a very interesting lens to look at the Stablecoin market from Banger piece from @_nishil_, definitely recommend checking it out

🧵 Stablecoins and the Overhaul of Global Credit Lets explore how stablecoins are helping the US distribute its debt globally — and why stablecoin issuers may become the world’s most efficient credit allocator.

The adoption of stablecoins beyond crypto natives is great — but what it really signals is something far more impressive: the convergence of tradfi and onchain markets.

large scale adoption of USDT/C will kill credit lines from small to mid scale banks, we need: - User deposit backed stables - Expansion of collateral types beyond T-Bills - Bank issued stables - Adoption of CDP based and other stablecoin solutions like MakerDAO, @capmoney_

What makes a good researcher? When I started writing in Web3, there was no roadmap. No academy. No structured path. I had to learn, unlearn, and relearn — over and over again. I studied top researchers, read their threads, their breakdowns, and tried to understand how they think. I observed. I imitated. I failed. I tried again. But one question stuck with me: “How do you become a researcher?” Most of the resources out there are scattered. You have to stitch them together piece by piece. And even then… It’s easy to feel lost. So @BigJayce7 and I decided to do something about it. We’re starting The Research Corner (TRC) — a weekly space to help writers grow into researchers. We want to understand blockchain at its core and learn how to tell stories that actually matter. And we want to bring you along on that journey. Whether you’re a writer, an aspiring writer, or just curious — TRC will be a space to ask questions, learn from others, and grow. Each Friday, we’ll: — Break down the research process — Dive into specific topics — Review threads — And host researchers who’ve already been there Our first episode goes live tomorrow. Be there, let’s build this together.