Chris Burniske revises and expands on his prior crypto valuation framework to differentiate 'productive' crypto assets (ie capital assets) from crypto commodities. While MV=PQ applies to the latter, the former are best valued by variations of the NPV formula.

+ Ryan Selkis has a great take on this piece, combining it with a more bearish view on staking returns provided by Ben Davenport of BitGo (where he argues staking won't provide a real yield in the long term).

Wait no longer, as Nathaniel drops his Q1 narrative watch to make some sense of the last 3 months and what we're heading for. 

End of quarter always comes with chunky PDF reports. This one is by the always excellent Circle Research team.

Great piece of work by Kyle of bZx attempting to categorize degrees of tech decentralization for the most prominent DeFi lending protocols. It's particularly useful to look at the trade offs each one made.

Julian Koh goes slightly deeper than most on the “Cosmos vs Polkadot” topic, outlining key difference and pros/cons of each.

We often end up focusing a lot on the Ethereum ecosystem given that's where we're seeing the most activity at the moment. However it's healthy to keep track of other platforms. 

This post is a recap of a recent Tezos-focused conference, which touches on many common themes and trends. 

If the recently featured 'Superfluid Collateral' post got your brain in gear, you'll no doubt enjoy this follow-up piece by Dan Zuller of Vision Hill, where he expands on the idea of 'recycling' idle collateral to enhance network productivity and ultimately to enable greater utility.

And it looks like we are starting to see the first signs of this happening.

Good post by our friends at Fabric on the history of business models native to Web 2.0 and to Web 3.0.

For all Uniswap fans out there, here's a deep-dive on its traction using onchain data by team Covalent. Particularly interesting to see the trends in transaction size.

Blockchain Capital conducted a survey of American adults to assess the general sentiment toward Bitcoin, as a follow up to one they ran back in October 2017 (i.e. top of the market). 

The results are presented in this post, and remarkably it shows how awareness, familiarity, perception, conviction, propensity to purchase and ownership all increased significantly over that period, despite the crypto winter.

Great recap of team Stake Capital adventure at ETHCapeTown, where they managed to win the hackathon with their decentralized version of TikTok (DTok), a pay-as-you-go streaming platform built on top of Livepeer via Raiden-enabled Burner Wallet and using DAI for payments.

CDP Saver is now live on the Ethereum mainnet! 

It's a web dapp that allows you to optimally monitor and manage your CDPs, abstracting away unnecessary complexities. It also features a marketplace where one can offload their CDPs at discount.

Really cool new mobile app (iOS only for now) that lets anyone create and discover 
limited edition blockchain NFT collectibles. 

The really cool thing is blockchain is used to store, secure ownership and enforce scarcity, but users can engage with collectibles on the app (create, claim, discover, and transfer) without touching crypto! 

AirSwap released the new version on Instant on mainnet, a super neat non-custodial interface for P2P token trading, with a lot more features to ensure a trade can go through or alternatives are surfaced (eg OTC via their Spaces product) and a slick new wallet interface. 

The team developing the Opium Protocol have proposed ERC-721o, a new token standard for representing exchange-traded derivatives, OTC derivatives and features like portfolio wrapping on the Ethereum blockchain.

The new standard is a combination of ERC-20 and ERC-721 standards, allowing for multiclass fungible tokens, ie tokens that are fungible within their own class.

Dapper Labs (the makers of Cryptokitties) have developed a smart contract based wallet specifically to interact with blockchain games. The wallet is built to be "gas-free" and with features like account recoverability and fiat on-ramps. The trade-off is it requires email address and phone number for verification purposes.

Very keen to give it a spin (you can request access from meetdapper.com).

Non-custodial gasless DAI wallet for Android!

With it you can send DAI paying tx fees in DAI itself, without having to hold ETH. Awesome!

(in alpha mode so still experimental).

Finally! The new Ethereum website is live, though true to its spirit it's a work in progress by the community.

Congrats to our friends at Guesser for closing a $1.1M seed round led by Version One and with participation from Compound and Boost. 

Guesser is building a user friendly interface to interact with Augur prediction markets and addressing regulatory issues related to that space from European jurisdictions.

Fascinating to see Samsung making a small strategic investment in hardware wallet maker Ledger, at a near $300M valuation. 

It seems inevitable that most phone manufacturers will make a move into this space over the next few years.

Castle Island Ventures, Dragonfly Capital Partners and New York Digital Investment Group topped by ErisX Series B round by the tune of $20M.

The regulated crypto exchange is gearing up to offer for spot and derivatives trading by year end.

A sizable raise in the increasingly crowded space of "Bloomberg for crypto data".

The round was participated by Digital Currency Group, Galaxy Digital, CMT Digital, Jump Capital, Morgan Creek and others.