Research reports covering DEX markets, DeFi protocols, lending, and the Ethereum ecosystem.
- The rsETH Bridge Drain: LayerZero DVN Compromise, Aave Contagion, and a CROPS Audit — Incident report on the April 18, 2026 Kelp DAO exploit ($290M+), the LayerZero 1-of-1 DVN failure, Aave's $123–230M bad-debt exposure, the unresolved Kelp/LayerZero blame dispute, and a party-by-party accountability audit through the CROPS framework
- Risk Labs Comprehensive Report: UMA Protocol, Across Protocol & ACX-to-Equity Conversion — Deep dive into Risk Labs (UMA + Across), Polymarket oracle controversies, bridge competitive landscape, and the precedent-setting ACX token-to-equity conversion proposal
- DIEM vs Direct API Pricing: The Economics of Tokenized Inference — Analysis of Venice's DIEM token economics vs direct API pricing from Anthropic, OpenAI, and open-source providers
- State of Monad: Architecture, Ecosystem & Open Questions — Comprehensive analysis of Monad's technical architecture, on-chain metrics, MEV dynamics under deferred execution, governance gaps, and structural risks
- Comprehensive DEX Market Report: 2022-2026 — Historical analysis of DEX market evolution, volume trends, and protocol dynamics
- DEX Market Projections: 2026-2029 — Forward-looking projections for DEX market growth and structural shifts
- State of MEV: March 2026 — Current landscape of maximal extractable value across the Ethereum supply chain
- State of Ethereum: March 2026 — Overview of Ethereum's network health, usage metrics, and roadmap progress
- State of the Ethereum L2 Ecosystem: March 2026 — Analysis of rollups, L2 adoption, and the scaling landscape
- Comprehensive Lending & Borrowing Market Report: 2022-2026 — Historical analysis of DeFi lending market growth, protocol competition, and market structure
- DeFi Lending & Borrowing Market Projections: 2026-2029 — Forward-looking projections for DeFi lending market expansion
- The Future of DeFi Lending: Strategic Transformation Analysis — Strategic analysis of lending protocol evolution, curator economics, and institutional adoption