Special thanks to @NamikMuduroglu, @VelvetMilkman, and @0xKrane for the review. Ethereum’s vision began as a permissionless, infinite garden, open to anyone with an idea. It was simple in principle: a...

Lending in DeFi has always balanced two opposing forces. On one side is the need for risk isolation, essential for lenders who must protect principal and exposure. On the other is the need for...

One of the biggest problems in crypto is rarely discussed. In trying to make markets permissionless, we replaced organic price discovery with equations. It made trading constant and accessible, but it...