Writing
Long-form analysis on DePIN, blockchain governance, decentralised cloud infrastructure, Web3 economic models, and what it takes to ship infrastructure at scale.
- The Floor Doesn't Exist
AI did not invent new attacks. It billed the old ones monthly. Crypto is the only place we can count it, and the early signals are in.
- DePIN Is Dead. Long Live DePIN.
Only two DePIN projects crossed $1M in annualized non-token revenue before 2024. Here's what broke, who survived by becoming different businesses, and why the service layer always wins.
- Is DePIN Anarchy?
DePIN checks every box of classical anarchism: voluntary association, no coercive authority, workers own the means of production. But it's already falling into the same traps every anarchist movement has fallen into since 1840.
- Beyond the Hype: A Founder's Honest Take on Building a DePIN Startup in 2025
The DePIN startup playbook has changed. Four metrics that actually matter in 2025: protocol revenue, paid utilization, burn-to-mint equilibrium, and enterprise value add.
- Lido Dual-Governance Parameters Research ↗
Research on the parameter design of Lido's dual-governance mechanism, co-authored with Collectif Labs. Analyzes stakeholder incentives, attack surfaces, and practical limits of on-chain governance under adversarial conditions.
- Titan Network Lightpaper ↗
Shorter overview of Titan Network's DePIN architecture, use cases, and go-to-market. The lightpaper companion to the full technical whitepaper.
- Titan Network Whitepaper ↗
Full whitepaper covering Titan Network's universal DePIN service platform, node economics, edge cloud architecture, and the incentive mechanisms for matching community idle resources with global demand.