Delphi Ventures

185 posts

Delphi Ventures

@Delphi_Ventures

Delphi Ventures backs extraordinary founders at the bleeding edge of technology.

Se unió Temmuz 2022

97 Siguiendo13.9K Seguidores

Delphi Ventures retuiteado

Delphi Digital@Delphi_Digital·16 Nis

Our new report "Jupiter: A Gassed Up Giant" is Live and Free to read! @JupiterExchange did $184M in protocol revenue in 2025 with no venture funding and a near-zero capital base. JUP now trades at roughly 9x annualized revenue while Aave trades at 20x. The disconnect comes down to categorization. The market sees a cyclical DEX aggregator, but the team has spent the last 18 months shipping 10+ new product lines while defending 80% of Solana spot aggregation. What makes this durable is the product flywheel underneath it. Perps auto-route collateral swaps through the aggregator, generating billions in spot volume as a byproduct. JLP earns yield from perp fees and a third of its AUM flows into Jupiter Lend as collateral. Jupiter ranks as the third-largest perp earner behind only Hyperliquid and EdgeX. When JupNet goes live and GUM opens access to equities, commodities, and forex, every new asset class feeds volume across the entire stack.

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Can Gurel@CannnGurel·30 Mar

looking to meet builders working on hard problems at @EthCC my dm is open

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Tori Finance@tori_finance·25 Mar

Sunday, March 29. Cannes. Sunset catamaran cruise the evening before EthCC[9]. No stage, no panels. Just the right people on the water. Hosted with @Delphi_Ventures, @Rockaway_X, and @AccountableData. Join a curated guest list of top DeFi protocols, investors, founders, and institutional market makers. Apply: luma.com/9vw5hg8f

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Delphi Ventures retuiteado

Yan Liberman@YanLiberman·24 Mar

Thrilled to be leading @tori_finance's seed. Most on-chain yield is reflexive, it originates from within crypto and compresses the moment markets cool. Tori sources returns from an entirely different universe: institutionally scalable delta-neutral and HFT strategies in TradFi that have consistently generated strong low double-digit APY for decades. Completely uncorrelated to crypto market direction. Access to this was previously gated behind 7-figure minimums and accreditation. Now it's open to anyone with a wallet. The real unlock though is what crypto adds to this. DeFi composability lets users recursively leverage their position, pushing effective yields considerably beyond the baseline. You can't do that with a traditional fund share, this is a case where bringing something on-chain makes the product strictly better. Add full on-chain verifiability of every position and you get TradFi-grade transparency alongside access and composability that TradFi simply can't offer.

Tori Finance@tori_finance

Introducing: Tori A yield protocol bringing institutional delta-neutral strategies on-chain. Up to 15% APY with zero crypto market exposure. Backed by @Delphi_Ventures

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Can Gurel@CannnGurel·24 Mar

We backed Sam @0xNox_eth and the @tori_finance team because we think one of DeFi's biggest opportunities is bringing new unique exogenous assets on-chain that can become collateral across the stack. Our thesis is simple: tokenization is very powerful in that if you have a low-volatility, yield-bearing asset you can use it as collateral, borrow stables at a lower rate, and loop back into the same asset. The effective yield you end up with is material relative to anything you can access elsewhere. The key is the asset needs to be reliable enough to lever at high LTV without liquidation risk. That's the hard part and what Tori is uniquely built for. There are well-established yield strategies in TradFi — money market instruments, short-duration sovereign paper, arbitrage funds — that generate appealing USD returns on a delta-neutral basis with zero crypto exposure. The yield source is well-understood. The problem is: a) They're locked behind bureaucracy, borders, minimums, and accreditation. b) Even if you access them, your capital is dead. You can't borrow against it. You can't compose it. You just earn the base yield. Tokenization changes that. Tori deploys into these same instruments across global markets, fully hedged back to USD, and wraps them into a composable token. By doing so it creates an exogenous asset uncorrelated to crypto with an appealing, low-volatility yield that you can borrow against. Your otherwise locked capital all of a sudden becomes productive. And because Tori operates globally, yield isn't dependent on a single region. If spreads compress in one geography, capital rotates to another. Scalable and accessible to anyone on-chain. I'm very excited to back Sam @0xNox_eth on this journey. He's consistently shown us what exceptional founder DNA looks like. Give him a follow

Tori Finance@tori_finance

Introducing: Tori A yield protocol bringing institutional delta-neutral strategies on-chain. Up to 15% APY with zero crypto market exposure. Backed by @Delphi_Ventures

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Delphi Ventures retuiteado

Tommy@Shaughnessy119·17 Mar

Delphi Ventures is proud to sponsor the @NousResearch Hermes Hackathon. The repo is trending on GitHub as developer activity hits all time highs. Hermes has gone viral for a multitude of different use cases Stay tuned for the winners! @Delphi_Ventures is an Investor in Nous

Nous Research@NousResearch

Meet Hermes Agent, the open source agent that grows with you. Hermes Agent remembers what it learns and gets more capable over time, with a multi-level memory system and persistent dedicated machine access.

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Tommy@Shaughnessy119·17 Mar

$GRASS is one of the clearest ways to play the intersection of AI and Crypto. A generational founder with millions of deployed devices on Solana accruing the most valuable asset (Data) for Major AI Labs. Incredible well run company. @Delphi_Ventures is a proud investor 🌱

Andrej@0xdrej

@0x1CMC @AustinBarack was verified in the latest report from @MessariCrypto nobody’s asking you to trust me

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Tommy@Shaughnessy119·16 Mar

There is a ridiculous amount of signal on noumena.com/research/ by the AI mastermind @_xjdr Looking at the Quote Tweets people are calling it A Gold Mine and The Equivalent of the alchemists notebook in the middle ages If you look at his most recent posts he is doing insane things. In one he built an automated AI researcher that found a better training configuration all on its own. In another he stress tested all the hyped 2025 AI trends (canon, mHC, engram) to see if they actually worked. In another he designed a networking system (RDEP) that treats an entire cluster of connected GPUs as one single pooled brain. I'm beyond excited for XJDR to release more on Noumena as time goes on. He is releasing highly differentiated frontier level engineering research around the most complicated subjects (Mixture of Experts) For those who are also not technical, I'm sharing Gemini Deep Think's take on the impact of his last three papers. XJDR will do incredible things in 2026 and beyond for AI. Highly recommend following and getting involved.

xjdr@_xjdr

we are releasing a series of research journal posts at noumena.com/research/ . these are some of the things we are working on at noumena including 2 (very) pre print paper drafts. happy to answer any questions you have . i will push the code and logs to reproduce most of this today in the nmoe repo

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Delphi Ventures retuiteado

Tommy@Shaughnessy119·16 Mar

Strongly recommend following @IridiumEagle and @ambient_xyz and getting involved with their testnet if you're an AI enjoyer Ambient is building an SVM compatible proof of work L1 that supplies verified inference through a 600B parameter AI model and through a variety of fine tunes for different use cases Ambient has two cornerstones that will strongly resonate 1/ The models are underpinned from PoW. So physical hardware around the world underpins Ambient's AI models. As more come online the model gets smarter and can service inference faster and cheaper. 2/ Travis is an open source champion. He is building for the counter world away from centralized models which is becoming ever more important especially as China goes closed source (See GLM 5.0, Qwen AI lead getting fired post new Open source release and Llama hasnt relased a model since 2001). Some slightly more technical advantages of Travis' design - Speed: It uses Solana's Proof of History for speed but replaces Proof of Stake with a new Proof of Logits algo. Miners secure the network by running useful AI models instead of solving random math. - Efficiency: It drops the computing power wasted on verifying AI outputs to under 0.1 percent. Validators achieve this efficiency by checking a single random word of the AI output instead of the entire text - Censorship Resistance: The architecture uses built in privacy primitives to ensure censorship resistance @Delphi_Ventures is proud to back Travis, Max and Ambient!

TravisGood@IridiumEagle

On how little we know about the models we interact with and use daily.

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Delphi Ventures retuiteado

Tommy@Shaughnessy119·16 Mar

Absolutely insane progress by @getoro_xyz They have grown into one of the largest private data collection companies on earth They are solving the the AI data bottleneck by capturing the largest permissioned datasets of real human behavior. This data is crucial for big AI labs and for Oro in its future endeavors. - Voice: 3.8TB of audio from 3,000 active contributors in 47 languages - Social: 310M structured data points per month across 1.24M live connections - Health: 11.7M wearable data points per month from 392,000 live connections - Finance: 3M financial data units per month across 150,000 live connections So with these data points what are the use cases? - Voice: Voice models, agentic AI, world models, and physical AI - Social: Deeper agent memory, tight personalization, and reliable reasoning - Health: Sleep disorder detection, recovery anomaly flagging, and burnout prediction - Finance: Fraud anomaly detection, spend classification, and automated trading agents Oro has grown into a key player in the data space for AI and they're growing extremely fast. And yes people get rewarded for providing their data/connections. Very happy Oro is a @Delphi_Ventures portfolio company Get started: getoro.xyz

ORO AI@getoro_xyz

ORO’s voice tasks now represent one of the largest real-world conversational audio datasets built to date, totaling 3.8TB of audio from 3,000+ active contributors across 47 languages. 29,700 multi-turn conversations. Peak throughput: 1,600 hours in a single day.

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Delphi Ventures retuiteado

joshua@joshuagunnn·9 Şub

MEGA is live, and so is our new markets page! See realtime data for any market on Aori, with gasless instant swapping between any token.

aori@aori_io

Enter the Rabbithole. @megaeth is now live on Aori. aori {dot} io

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Can Gurel@CannnGurel·27 Oca

After years of work, Citrea today delivers the first ZK-rollup on Bitcoin! Citrea will post its data and ZK proofs to Bitcoin, contributing to Bitcoin fees and, in turn, its security; positioning itself as the most Bitcoin-aligned L2 to date a new opportunity for builders looking to create uniquely Bitcoin-aligned ₿apps.

Citrea | Mainnet Live 🍊🍋@citrea_xyz

1/8 Today, Citrea Mainnet Goes Live 🍊🍋 We are officially live with the first Bitcoin application layer that enables institutions and individuals to lend, trade, and settle directly on the Bitcoin Network. Start your journey with Citrea Dashboard: app.citrea.xyz 🧵

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Delphi Ventures@Delphi_Ventures·26 Oca

The SEC's custody rules need updating to accurately reflect the risks of digital assets, Our GC @SH_Brennan and @Jstolkin led the drafting of this modernization framework. Better regulations improve investor trust in the crypto asset class. We welcome any feedback on this framework.

Sarah Brennan@SH_Brennan

Using this lull in market structure negotiations to share that @Jstolkin and I recently submitted our Custody Rule Modernization Model Framework to the SEC’s crypto task force. sec.gov/files/custody-… I am proud of this effort and wanted to share some color on why it matters...because, let’s face it, custody rules are pretty dry. My North Star in crypto policy work is simple: start with the tech’s core value proposition and... don’t regulate it out of existence. This lens is critical as policymakers work through foundational building blocks like custody. Technology designed to enable disintermediation and self-custody should be allowed to do what it does best. That seems like common sense. In practice, though, policy work is often a tug of war between constituencies. In our paper, we argue for regulatory pragmatism, including a reasonableness standard and, among other things, permitting the use of multisigs / MPC tech paired with appropriate operational guardrails. We’ve also already seen the consequences of maintaining the status quo - custody used as a regulatory chokepoint. When regulation ignores how crypto infrastructure actually functions, the result is pretty predictable. It leads to frictions, inefficiencies, and unworkable requirements. However, since our submission, some incumbents have continued to urge the SEC CTF to preserve the status quo by applying legacy rules to fundamentally new systems. That approach assumes equivalence where it doesn’t exist. As the SEC reengages on custody modernization, I hope they share this North Star with a goal of crafting regulation that lets market participants leverage new tech to improve outcomes, rather than neutering it. Endless thanks to @larryflorio, @xethalis, @_DanLeonardo, @DrewAHenderson and the team @Delphi_Ventures for a year+ of your thoughtful reviews, feedback, and engagement on this effort. This framework is immeasurably stronger because of your contributions. @Jstolkin thanks for being awesome to work on this & look forward to starting our next joint public goods project next week.

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Rawson 🙏@PonderingDurian·13 Oca

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Delphi Ventures@Delphi_Ventures·18 Ara

Our back office role: We’re hiring our next commercial operator with an accounting, finance, and operational associate that is an outstanding executor and has standout attention to detail. You’ll work closely with our team @DrewAHenderson @SH_Brennan @atyemerlo Apply here: #content" target="_blank" rel="nofollow noopener">jobs.delphiventures.io/companies/delp…

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Delphi Ventures@Delphi_Ventures·18 Ara

Our Crypto Role: We are looking for a highly-motivated and driven Ventures Analyst to join our investment team. This role will be integral in identifying, evaluating, and supporting investment opportunities across the crypto ecosystem. You’ll work closely with our team @YanLiberman @Shaughnessy119 @CannnGurel @alexgolding_ Apply here: #content" target="_blank" rel="nofollow noopener">jobs.delphiventures.io/companies/delp…

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Delphi Ventures@Delphi_Ventures·18 Ara

Our Deep Tech Roles: 1) Ventures Associate: based in SF, a sourcing heavy role 2) Ventures Analyst: based anywhere, focused on investment diligence & analysis You’ll work closely with our team @PonderingDurian @Shaughnessy119 @pierskicks Apply if you are highly intellectually curious, have an internal engine, and have differentiated networks and/or knowledge in AI, robotics, deep tech investing. Applications here: jobs.delphiventures.io/companies/delp…

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Delphi Ventures@Delphi_Ventures·18 Ara

Delphi Ventures backs extraordinary founders at the bleeding edge of technology. We’re hiring extraordinary people to expand our capabilities and depth. We are looking for high-conviction operators and investors for four key roles: 1. Investment Analyst and Investment Associate (Deep Tech) 2. Investment Analyst (Crypto) 3. Finance & Operations Associate Learn more below: (Delphi Ventures is an equal opportunity employer.)

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Delphi Digital@Delphi_Digital·11 Ara

Our 2026 Markets Year Ahead Report is out now! The liquidity regime that defined crypto's struggle over the past two years is reversing. After removing $2.4 trillion from the system since mid 2022, the Federal Reserve has halted QT since December 1st. This marks the first major inflection in U.S. liquidity conditions since the tightening cycle began. QT drained bank reserves from their peak toward the lower end of the Fed's comfort zone. The Treasury General Account spiked to nearly $1 trillion as the government front-loaded T-bill issuance, acting as a liquidity vacuum throughout 2025. Meanwhile, the Reverse Repo Facility collapsed from over $2 trillion to practically zero, eliminating the shock absorber that cushioned prior Treasury refills. With the RRP depleted and QT ending, any future Treasury issuance must come from bank reserves unless the Fed expands its balance sheet. Given how acutely the Fed remembers the 2019 repo spike, modest balance sheet expansion is the more likely path. Combined with the TGA drawing down and rate cuts accelerating through 2026, the backdrop shifts from persistent tightening to normalization. This isn't the rapid liquidity expansion of 2020, but it's the first net positive flow environment crypto has seen since early 2022. Global M2 is already breaking to new highs. Could BTC follow? Our full Markets Report breaks down the liquidity picture, gold's structural tailwinds, and what this regime shift means for crypto.

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Piers Kicks@pierskicks·8 Ara

Proud of @Delphi_Ventures firing on all cylinders. In London for 2 weeks actively connecting with: • AI & deep tech founders for our flagship fund • Pre-seed/seed managers for our fund of funds Ready to meet? DM me directly with a brief intro or referral.

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@JupiterExchange @EthCC @Rockaway_X @AccountableData @tori_finance @0xNox_eth @NousResearch @_xjdr