In Roman mythology, Janus was the god of beginnings, transitions, and endings. He was depicted as having two faces looking in opposite directions, symbolizing his ability to look both to the future and the past. Janus offers the perfect metaphor to solve one of the most important pieces of crypto infrastructure: on/off-ramp. In the context of crypto, an on/off-ramp refers to the channels through...
RWA#2 – REAL WORLD ORACLES
A blockchain is a fully deterministic system meaning that, given the history of the system, it can be replayed in another machine achieving the same results. Essentially it is a machine that, given the same inputs, will always provide the same outputs. This is a very powerful property, because it allows users to store information of different nature safely, with a very limited risk of data...
RWA#1 – Centrifuge: Real World Assets for Crypto investors
From my humble point of view, the most interesting piece of financial innovation in circulation today is what a small group of decentralized finance startups is doing: trying to bring real world assets on-chain. Roman style mosaic of robot lending money – DALL-E What these companies are doing is fascinating, and yet extremely challenging at the same time. They are trying to migrate...
RWA#0 – Credix: capital markets as a service
The goal of this post is to provide a deep-dive in one of these decentralised credit marketplaces Credix, to analyze its capital-markets-as-a-service proposition and contextualize it in the wider lending space.
2032: Financial Tales from planet Earth
The post imagines what the future of finance will be in 2032. It follows the life of a fictional character - John - and analyses how four major trends redefine his financial life.
The investment bank of the future: Yield Guild Games
The post presents an analysis of Yield Guild Games, an NFT fund which invests mainly in crypto-gaming assets.
The disintermediation of finance
Why (in italian perché) has always been my favorite word. Why, in my opinion, is the most powerful word we have, as it allows us to uncover the real essence of things. It is the key to understanding causality, one of the pillars of the scientific method. The goal of this post is to ignore buzzwords and a blind deterministic approach, which permeates crypto, and try and understand why DeFi...
Uniswap and the AMM model
The post describes the AMM model and its most important implementation in the DeFi ecosystem: Uniswap.
DeFi Lending 2.0: Reputation & Real World Assets
The main argument of the essay is that, in order to really become a mainstream product, DeFi lending will have to expand across two main dimensions: reputation and real world assets.
A lending stack: merging DeFi with Traditional Finance
Last year, I wrote a post defining the most important component of a banking stack. This post is the complement to that one, and i describes the core elements of a modern lending stack, adding some new DeFi pieces to the architecture.