Analysis
The State of On-Chain Perpetuals: Q3 2026 Review
A data-driven examination of trading volumes, user growth, and protocol developments across leading perpetual DEX platforms.
Sarah Chen
· 9 min read
Research
In-depth research reports
Original analysis of protocols, markets, and trends in on-chain finance. Each report synthesizes primary research into publications written for professional readers.
Research
Hyperliquid Protocol: A Comprehensive Analysis
In-depth examination of HyperBFT consensus, on-chain CLOB architecture, and market positioning.
Daniel Harrington
· 14 min read
Technical
Oracle Design in Perpetual Trading Protocols
How different perpetual DEXes handle price discovery and the implications for traders and liquidity providers.
Marcus Reinhart
· 8 min read
Analysis
The Economics of On-Chain Market Making
A framework for understanding market maker incentives and performance across decentralized exchange architectures.
Marcus Reinhart
· 12 min read
Research
Appchain vs General-Purpose L1 for DeFi
Comparing the trade-offs of dedicated application chains versus shared general-purpose blockchains for DeFi protocols.
Sarah Chen
· 11 min read
Analysis
Points Programs and Token Distribution Design
How modern protocols are using points systems to bootstrap engagement and distribute tokens — and what works.
Aisha Rahman
· 9 min read