What’s new on Delta: - $3M+ fees claimed by LPs - 0.50% of $DELTA supply burned - Sherlock audit completed - Delta Academy launched - Dune dashboard live - Infrastructure upgrade with @Alchemy - Multichain - Swaps launched - Team expansion Back to work.

Jude Law says Robert Downey Jr. “stomped” on an extra’s hand while filming Sherlock Holmes (2009), leaving the poor actor screaming in the middle of a fake-carnage scene. Law recalled a scene where they walked into a room filled with rubber bodies. “There’s a big hand lying there and [Robert] just stomps...” Law reenacted the moment, explaining that the extra suddenly cried out: “Aargh! For the love of God!” Downey Jr. then joked about what happened next: “Then the problem was, the guy goes, ‘Oh, I can only say I had the honor of having my hand stomped by the great Sherlock Holmes!’” Downey added, “In America, he’d be like, ‘LAWSUIT!’”

PRO TIP: Gamify your notebooks Don't just read your notes— investigate them. Our new Sherlock Holmes notebook turns studying into an interactive mystery game. Deduce facts, uncover clues, & prove that even the most complex matters can be elementary. ➡️

Jessica and I have been watching Professor T, and it's really good. If, like me, you wish Doyle had written more Sherlock Holmes stories, this may be as close as you're going to get.

ARROW MAINNET GOES LIVE TOMORROW, MONDAY 8/31 AT 9:30 AM ET. 🏹 After completing the final review process with @sherlockdefi, Arrow is ready for mainnet. Huge thank you to the Sherlock team for their diligence throughout the review, and to our community for their patience. At launch, Arrow will support 16 collateral markets across stablecoins, WETH, tokenized equities and indices. Initial max LTVs will range from 75% to 90%, with most non-stable collateral launching in a narrow 75–80% range. The protocol will initially support approximately $1.6M of aggregate aUSD borrow capacity across all markets. These are starting parameters. We’ll continue refining caps, collateral support and risk settings based on early adoption, TVL and how people actually use the protocol. Our long-term goal is to build the Robinhood Chain-native lending infrastructure that makes RWAs financeable and helps turn tokenized assets from things people simply own into productive financial assets. That requires more than putting assets onchain. It requires the financial infrastructure around them to evolve too. Because Arrow launches with tokenized equities and indices as collateral, reliable pricing for those assets is critical. For now, equity and index collateral will operate during regular U.S. market hours, from 9:30 AM to 4:00 PM ET on normal trading days, to ensure dependable oracle pricing and protect against manipulation in thinner onchain markets. This constraint does not apply to WETH or stablecoin collateral, and we view the current limitations that as a starting condition, not the end state. The promise of tokenization is ultimately bigger: global markets with deeper onchain liquidity, better infrastructure and fewer of the limitations inherited from traditional finance. As those markets mature, we expect Arrow to evolve with them. Borrowing, liquidity and leverage are foundational pieces of that economy, and we intend to build the infrastructure that helps make it possible. From here, we’ll continue iterating on Arrow, expanding the universe of assets the protocol can support and exploring new categories of onchain collateral beyond traditional financial assets. We’ll also be sharing more about the team, organization and structure behind Arrow, as well as announcing several new partners who will help support the protocol’s next phase of growth. See you at the open. 💪