Neutral, source-based introductions to crypto projects, their technology, token roles, and ecosystem context.
Neutral, source-based introductions to crypto projects, their technology, token roles, and ecosystem context.

2026-09-21

2026-09-21

2026-09-21

2026-09-21

2026-09-20

2026-09-20

2026-09-20

2026-09-20

2026-09-20

2026-09-20

CrowdStrike bills per endpoint and per module, invoicing in advance, so revenue lags the decisions behind it. On Bitbase, CRWD is a perpetual, not a share.
2026-09-21

CME Group runs the exchanges where E-mini contracts trade, and its Class A stock is listed on Nasdaq under CME. Owning the venue is not trading its products.
2026-09-21

Cboe runs the venues where S&P 500 options and VIX products are listed, and its own shares are registered on an exchange it operates. Three routes compared.
2026-09-21

Adobe books subscription revenue ratably, so a quarter mostly records earlier selling. On Bitbase, ADBE is a Robinhood derivative and a perpetual, not a share.
2026-09-21

HOOD on Bitbase is three instruments: a tokenized stock, a spot market and a perpetual. Where Robinhood's revenue comes from and what moves the stock.
2026-09-20

Yield Basis, explained: stablecoin debt against a two-asset pool share, constant 2× leverage by default in the model — aimed at impermanent loss, not a promise.
2026-09-20

What Uniswap is, how v2, v3, v4 hooks, UniswapX and Unichain differ, how liquidity pools price without an order book, and where a provider's risk sits.
2026-09-20

Solv Protocol, explained: SolvBTC is documented as backed one-for-one by reserve BTC, xSolvBTC is yield-bearing via Babylon, and SOLV is a claim on neither.
2026-09-20

In Renzo, REZ is governance while ezETH and pzETH represent EigenLayer and Symbiotic positions. Withdrawals take about 7 days with a buffer, 10–15 without.
2026-09-20

OpenLedger is an AI chain for data and model provenance: DataNet stores timestamped datasets and Proof of Attribution traces outputs back to training data.
2026-09-20