Explainers
A crypto index provider builds the reference prices and benchmarks that markets trust. Here is how the function works, what it borrows from TradFi, and why onchain fragmentation makes it hard.
Explainers
Kalshi lets people trade on whether real-world events will happen. Whether that counts as gambling depends on who is asking, and the answer is more settled than most people assume.
Explainers
An onchain index bundles crypto assets into a single, rules-based product managed by smart contracts. Here is how it works, where it fits, and what to watch.
Explainers
Repo is the plumbing of short-term funding. Here is what changes when the collateral is a tokenized asset settling onchain, and what does not.
Explainers
Kalshi operates as a federally regulated exchange, which is why it treats its event contracts as legal nationwide. Several states, including California, disagree. Here is the state of play.
Explainers
Open interest tells you how much money is committed to active crypto derivatives contracts right now. Here is how it works and why traders watch it more closely than volume.
Explainers
Traditional exchanges rely on designated market makers to keep prices continuous and liquid. Here is what that role does, and what it looks like as securities and assets move onchain.
Explainers
Polymarket is barred from serving US customers under a 2022 CFTC settlement, but the legal ground is shifting fast. Here is what that means for users, regulators, and anyone reading the headlines.
Explainers
Crypto market data providers convert messy onchain and exchange activity into structured, verifiable feeds. Here is what they deliver, how they work, and how to judge one.
Explainers
Dividends, splits, and mergers are routine in traditional markets because decades of infrastructure process them. Here is what changes when the security becomes a token.
Explainers
Prediction markets let people bet on real-world outcomes. When someone with private knowledge places those bets, the rules get murky fast. Here is what is actually going on.
Explainers
Prediction markets let people bet on real-world outcomes, from elections to interest rates. Their legal status is shifting fast, and the answer depends heavily on where you are and what you are trading.