Our full @Polymarket H1 report, in partnership with @Surfdeveloper, is now live 👇 This report covers: * Venue growth, market composition, and fee economics * User growth, cohort profiles, and PnL breakdowns * Market structure and user behavior, fee sensitivity and entry timing Podcast interview live at:

🚨NEW EPISODE: How Canton Unlocks Institutional DeFi with Ethereum🚨 Today we're joined by @NorbertVadas, Head of Product at Zenith (@ZenithFdn), to explore how @ethereum compatibility is coming to @CantonNetwork and what that means for institutional finance. In this episode we're discussing: - What Zenith is building on Canton - Canton’s privacy-first architecture - DAML and Canton smart contracts - Why EVM compatibility matters - Bridging Canton assets into Ethereum - CIP-56 assets explained - Unified liquidity for institutional assets - Bringing DeFi to Canton - Rollup-inspired architecture - State management and scalability - Institutional adoption and real-world assets - Mainnet roadmap and what's next - And much more—enjoy! — Timestamps: (00:00) Introduction (00:51) What is Zenith? (04:04) Norbert's background (06:02) Why build Zenith? (08:22) Understanding DAML (12:45) Why EVM compatibility? (17:14) CIP-56 assets explained (27:43) How Zenith executes (39:13) RWA lending example (42:15) Bringing DeFi to Canton (45:58) State growth & scalability (50:14) Who is using Zenith? (56:46) What's next? (1:01:28) Mainnet roadmap (1:03:24) Outro

Been monitoring the situation at the Compute Market front - to start off: No One Knows How to Price the Market Yet. GPU prices and indices don’t agree with each other anywhere, and the spreads are WIDE across venues.

CNBC: Novig surpassed $125 million in first-week sports contract notional volume, topping rivals Kalshi and Polymarket, as legal and regulatory obstacles loom. Via @AnanyaBChetia

Möb is live on Robinhood Chain by @RobinhoodCrypto. We are building the RWA Prime Terminal: one credit account for tokenized real-world assets and the venues where they trade. Lend, borrow, trade, hedge, get financed, all from one account. Try it today:

This sounds increasingly like the MEV supply chain from 3 years ago with For those interested in the token pipeline, I organized my bookmarks and notes and asked fable 5 to write a book.

What is the world betting on? H1 audited data via @Surfdeveloper MCP shows that Sports account for half of Polymarket International’s taker-leg volume. Crypto follows at ~30%, inflated by the controversial MicroStrategy market; while World/Geopolitics ranks third at ~15%.

July snapshot (avg open interest / one-sided taker volume / daily turnover): Kalshi: $970M OI · $13.3B vol · ≈0.44×/day Polymarket Intl: $420M OI · $3.0B vol · ≈0.23×/day Polymarket US: $100M OI · $2.0B vol · ≈0.64×/day Two puzzles: 1) How did Kalshi do $10.3B more‼️ volume than Polymarket Intl in July, with only $550M more OI? 2) And how did Polymarket US print almost same volume as Intl's with just $100M OI?

People been mogging Polymarket volume down bad. The truth is, while Polymarket International volume holds up stable, a quiet part of the story is that Polymarket US has been growing strong. Note: volume below are counted on single-leg taker volume, different from notional volume and is roughly half of it

Super excited to release the study with @0xallyzach on the microstructure of Short-term Crypto Markets, where we cover an overview on the growth momentum & economics on both @Kalshi and @Polymarket, plus a deep dive into Polymarket’s user segments and 🕵🏻‍♂️ potential market manipulation: This is a "MEV" strategy that no one has called out lout til now (which allegedly long-existed in option trading) — Some traders appear to have figured out how to influence the closing price of Polymarket’s 5-minute BTC Up/Down markets while betting and profiting. 👇🧵

@PanteraCapital The tokenized asset market hit new highs in 2025. Every major bank now has a Head of Digital Assets. But how much of today’s momentum is real on-chain infrastructure — versus flashy headlines and distribution wrapped in new rails?

Proud to launch Pantera's Tokenization Portal and Q1 Report with @0xallyzach @FranklinBi! The biggest surprise from our study of the $320B market: Most tokenized assets are still Wrappers — by design, not by accident.