Explore mechanism-led guides to crypto custody, stablecoins, trading and due diligence. Each guide examines how a mechanism works, its assumptions and its limits.
Bitcoin and custody
- Bitcoin Confirmations: Why Finality Depends on the Payment
- Bitcoin Transaction Fees: The Real Cost of UTXOs and Change
- Bitcoin Nodes vs Miners: Who Enforces the Rules?
- Cold Wallet vs Hot Wallet: A Threat Model for Crypto Custody
- Seed Phrase, Passphrase and Private Key: A Recovery Failure Map
- Multisig vs Single-Signature Wallets: When More Keys Reduce Risk
Stablecoins and cash flows
- How Stablecoins Hold Their Peg: Redemption, Reserves and Liquidity
- Stablecoin Depegs: Liquidity Shock or Solvency Problem?
- Proof of Reserves vs an Audit: What Each Can and Cannot Show
- Tokenized Treasuries: The Risks Behind the Yield
- Wrapped Tokens and Crypto Bridges: Where Extra Risk Comes From
- Crypto Yield Explained: Where APY Comes From and Who Pays It
DeFi and market structure
- DEX Liquidity vs Trading Volume: How to Measure Execution Quality
- Slippage vs Price Impact: How to Estimate a DEX Trade's Cost
- Impermanent Loss Explained: When Fees Do Not Cover Inventory Risk
- DeFi Liquidations: How Collateral and Oracles Turn Into Losses
- Crypto Funding Rates and Futures Basis: What They Reveal About Leverage
- Open Interest and Liquidations: Reading Crypto Leverage Without Guessing
Valuation and infrastructure
- Token Unlocks and FDV: How to Model Dilution Without Price Predictions
- Protocol Revenue vs Tokenholder Value: Reading Crypto Business Models
- TVL Explained: Separating Deposits, Leverage and Real Demand
- Layer-2 Security: Comparing Rollups Beyond Low Fees
- MEV Explained: Who Pays for Transaction Ordering?
- Crypto Due Diligence: A Framework for Claims, Control and Cash Flows