(04) Writing

Notes on markets, mechanisms, and the people building them.

Where execution, settlement, and data availability converge — and what it means for the next decade of building.

A team rethinking throughput from first principles, without compromising on credible neutrality.

Intents move complexity off the user and onto a competitive market of solvers. The design space is wide open.

Self-custody and deep liquidity were long treated as a tradeoff. They no longer have to be.

A survey of the proposals, their trust assumptions, and the open problems that remain.

The most valuable consumer companies of the next cycle will be impossible to tell apart from ordinary apps.

On markets

Signal scattered across the surface — we look for the pattern.