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Stablecoin Depeg: Why a Dollar Slips Off a Dollar
A stablecoin depeg is rarely a single event. It is a chain of redemption pressure, liquidity gaps and onchain flows that show up in the data before the price does.
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Explainers
Agentic Commerce vs Traditional E-Commerce
In traditional e-commerce a human clicks buy. In agentic commerce an AI agent does, and that single shift breaks the authorization and settlement assumptions the old model was built on.
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Open Interest vs Volume: What Each One Tells You
Volume and open interest measure two different things about a derivatives market. One counts activity, the other counts commitment. Confusing them leads to bad conclusions.
Explainers
How Stablecoins Get Rebalanced Across Exchanges
When USDT trades at a discount on one venue and par on another, someone moves supply to close the gap. Here is how stablecoin rebalancing across exchanges actually plays out onchain.
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Kalshi Fee Schedule: How Trading Fees Are Set
Kalshi's per-contract trading fee follows a price-based formula rather than a flat percentage.
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Agentic Payments Infrastructure: The Stack Explained
AI agents cannot swipe a card the way you can. Agentic payments infrastructure is the set of rails, protocols, and data systems that let them pay while proving they had permission to.
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How Onchain Perp DEX Volume Is Measured
Onchain perpetuals volume is one of the largest numbers in crypto, and much of it is notional, not cash changing hands. Here is how the figure is built and where it misleads.
Explainers
Crosschain Stablecoin Monitoring: What to Track
Tracking a stablecoin across chains is not one feed, it is dozens that have to agree. Here is what crosschain stablecoin monitoring has to reconcile, and where it fails.
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How Prediction Market Platforms Work
Prediction market platforms turn questions about the future into tradable contracts whose prices read like odds. Here is what they are, why they exist, and what remains legally unsettled.
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Agent Wallet: How AI Agents Hold and Spend Onchain
An agent wallet is a blockchain account controlled by software, not a person tapping approve. Here is how AI agents hold funds, get spending authority, and stay bounded.
Explainers
How a Liquidation Cascade Builds, Step by Step
A liquidation cascade is a self-reinforcing chain of forced sales that compounds as each forced sale moves the price. Here is the mechanism, the trigger points, and the guardrails.
Explainers
Algorithmic Stablecoins: Why Most Broke Their Peg
Algorithmic stablecoins promise a dollar without a bank account behind it. The mechanism is elegant on paper and fragile in practice. Here is why.