Research
Independent research and analysis on crypto capital markets, investor relations and token transparency.
Credible: Modern Payments for Modern Businesses
Post-launch research on the cross-border payments business behind $CRED
Credible processed roughly $844M in gross settlement, $146M in June alone, before issuing its ownership token through MetaDAO; the sale received $32.8M in commitments against a $4.0M maximum raise. Our 16-page report covers the evidence today, the collect-locally-settle-globally model, the token sale, treasury governance under futarchy constraints, and the four conditions the forward case depends on.
Which Token Value Accrual Model Works?
An empirical study of 159 tokens across six value accrual mechanisms
Bullpen: The Entertainment Finance Thesis
Why entertainment finance is the defining crypto category of this cycle, and why Bullpen is its purest product expression
Reintroducing Novora
Why the next era of crypto needs an independent capital markets advisory firm
Does IR Matter in Crypto?
Why the next leg of institutional adoption depends on how protocols communicate, not just what they build
Meteora: The Gold Standard
How Meteora built the highest-scoring IR program in DeFi and what every protocol can learn from it
Kamino: Bridging the IR Gap
Full IR analysis and 180-day roadmap for Kamino Finance
Want a custom IR analysis for your protocol?
GET IN TOUCH