Latest notes
custodyAugust 2, 2026·5 min read
"Just hold" is presented as the option with no downside. It has several — they are just paid in ways that never show up on a price chart.
airdropsdefiAugust 15, 2026·6 min read
Two thirds of the tokens booked for user airdrops are being relabelled as a growth fund instead. Nobody held a claim on them, and the allocation chart never said otherwise.
custodydefiAugust 10, 2026·6 min read
A privacy option proposed for a large exchange leaves every key with the holder. It also seats someone in front of the trade who can decline it.
ethereumcustodyAugust 8, 2026·6 min read
A browser can be told whether a wallet app served the code its developers signed. The check narrows who can lie to you rather than removing the lie.
defiAugust 8, 2026·6 min read
Aave has proposed deploying its next version on Base. The shared name carries none of the chain-level differences a holder would actually need to check.
exchangescustodyAugust 2, 2026·5 min read
A venue that goes down for two hours during a large move is not a minor inconvenience. It is a preview of counterparty risk under load.
defiAugust 2, 2026·6 min read
Unlock cliffs and emission curves say more about what a token will do to you than any roadmap. They are public, and almost nobody reads them.
custodyAugust 2, 2026·6 min read
Most custody advice is written for people defending against nation-states. Here is the version for someone who mainly needs to not lose their own keys.
defiAugust 2, 2026·6 min read
Fiat-backed, overcollateralised and algorithmic stablecoins share a name and a price target, and almost nothing else. The differences surface exactly when it matters.