Articles
Options Series Part II - Exploring Different Pricing Approaches and Tokenomics
• Pablo Bartol • 14 min readThis second article will look at the inner workings of pricing, especially the violations of the Black-Scholes Model (BSM), which is the most commonly used pricing model, followed by an overview of the...
On Tokenomics Series Part I - The Game of Supply and Demand
• Carolina Goldstein & Joana Gomes • 14 min readTokenomics, or the study of how tokens are created, distributed, and used within blockchain protocols, is a crucial aspect of the cryptocurrency and blockchain space. Tokens play a significant role in...
Options Series Part I - An Overview of the DeFi Options Landscape
• Pablo Bartol • 20 min readDeFi Options have become a highly sought-after product. However, compared to centralized counterparties, DeFi remains a small incumbent lacking liquidity, which limits options trading. This Options series...
The Key Role of Sequencer Decentralization
• André Pereira & Daniel Fonseca • 20 min readPart II of the Challenging Periods Reimagined Series proposes a transition from the current status quo of centralized sequencers to a decentralized network of sequencers with a governance-adjusted time...
Distributed Automated Market Makers (dAMMs)
• Tiago Fernandes • 15 min readCapital efficiency has become a major concern for L2 solutions as DeFi continues to grow since liquidity is divided between L1 and multiple L2s. dAMM is a new L2-powered AMM design that tackles liquidity...
The SVB Collapse: A Wake Up Call for Better Risk Management
• Carolina Goldstein & Joana Gomes • 5 min readCircle, the company behind the USDC stablecoin, acknowledged on Friday to having a $3.3 billion exposure to the now collapsed Silicon Valley Bank (SVB). USDC is one of the most widely used stablecoins...
Road to a Dynamic Challenging Period
• André Pereira & Daniel Fonseca • 25 min readThe Challenging Periods Reimagined Series examines the scalability challenge that Ethereum has been facing and how layer-2 scaling solutions, such as optimistic rollups, are being used to address it. The...
Investment Thesis: Arrakis Finance
• Pablo Bartol • 12 min readArrakis acts as a decentralized market-maker where users have their liquidity managed through Arrakis, and projects can create deep liquidity for their native tokens. AMMs (Automated Market Makers), such...
Working with Three Sigma: A Q&A with the Yeti Finance Team
• Carolina Goldstein & Tomás Palmeirim & Pedro Santos • 5 min readYeti Finance was one of the first projects Three Sigma worked with, and we are very fond of the long-term partnership that developed over the duration of the engagement. Yeti Finance is a decentralized...
The Hitchhiker's Guide to DeFi Insurance
• Catarina Urgueira & Carolina Goldstein & Tomás Palmeirim • 120 min readSince the early days, the DeFi market has been severely shaken by hacks, bugs, exploits, rug-pulls, flash loan attacks, and a long list of attack vectors, causing loss of confidence in its core value proposition....
Investment Thesis: Insrt Finance
• Tomás Palmeirim • 7 min readInsrt Finance is building a layer of simplification and abstraction for NFT finance, aggregating yield-generating strategies into Yearn-like user accessible vaults. Both vault strategists and the protocol...
Introducing: Three Sigma
• Eduardo Morgado & Afonso Oliveira & Tiago Barbosa • 6 min readThe crypto/web3 industry has demonstrated how much it benefits from technical expertise and how far it still is from reaching its full potential. As a corollary, technical experts must assist in leading...