Delphi Digital

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Delphi Digital

Delphi Digital

@Delphi_Digital

A research-driven firm dedicated to making crypto happen sooner and better than it would without us.

🌍 Katılım Eylül 2018
1K Takip Edilen371.6K Takipçiler
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Delphi Digital
Delphi Digital@Delphi_Digital·
Catch us live in feed tomorrow at 1PM EST with Delphi Consulting analysts @tempst0 and @trevor_flipper alongside @FlowTraderTM from @OstiumLabs We'll walk through the report, why Ostium isn't a perp dex, and how traders get access to global markets without having to choose between self-custody and execution quality.
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Delphi Digital@Delphi_Digital

Ostium connects trades into the deepest underlying offchain liquidity and brings the institutional brokerage experience onchain. Rather than rebuilding order books, @OstiumLabs connects directly to real market depth and focuses on execution. They aren’t competing on the exchange model for global assets that already do trillions in volume offchain. Traders get access to global markets without having to choose between self-custody and execution quality. Trades are quoted from the real underlying markets and hedged through institutional liquidity partners while settlement remains fully onchain. The result is better pricing, tighter spreads, and execution that scales with size. Over 30 days, Ostium processed $4.8B in notional volume across 166K orders. $10M+ gold trades cleared at 0.65 bps, while seven-figure FX and index trades cleared below 1 bp of price impact. The deepest markets already exist offchain. Ostium makes them accessible onchain. Our new report "Ostium: The Gateway to Global Markets​" breaks down the unique model, how it works, and why it matters for finally bringing global markets onchain.

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Delphi Digital
Delphi Digital@Delphi_Digital·
The hyperscaler era is hitting a geopolitical wall. For many years the play was simple: centralize compute, optimize globally, and sell across borders. But as global cloud stacks collide with conflicting legal regimes that model is breaking. Cloud architecture has morphed into a "compliance surface." Between the US CLOUD Act, Europe's NIS2, and China’s Data Security Law, the legal risk of a single global stack is becoming untenable. This is driving geopatriation. Enterprises are moving workloads to local or regional infrastructure because the political friction of a US-centric cloud is too high. There is a downside to this. Sovereign clouds are expensive, slow to scale, and they can’t get their hands on the newest chips. This is the wedge for decentralized compute. Networks like Akash, Aethir, and Render offer a workaround by aggregating GPU supply across dozens of jurisdictions. They coordinate pricing and routing through market mechanisms rather than rigid hyperscaler contracts. The winner of the next cloud cycle won't necessarily be the one with the biggest data centers. It’ll be whoever can route compute around jurisdictional friction.
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Delphi Digital
Delphi Digital@Delphi_Digital·
Morpho continues to gain ground in DeFi lending. Over the past year, Morpho’s share among the five largest DeFi lenders rose from around 9% to 24% with deposits climbing from $2.8B to $7.5B. This growth stands out in a lending market that is mostly flat.
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Delphi Digital
Delphi Digital@Delphi_Digital·
Scott explains why valuation alone is a weak framework for forecasting returns. “That chart is garbage... we focus on downside volatility rather than projecting forward returns... I’d rather focus on the PE multiple of the liquidity system.”
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Delphi Digital
Delphi Digital@Delphi_Digital·
Trevor explains what perp DEXs still need to become more durable businesses. “What’s different about the CME is that it's plugged in the systematic and mechanical flows and passive flows, where Hyperliquid and whatnot are not yet... whoever gets in with the brokers, you get that institutional type of flow.”
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Delphi Digital
Delphi Digital@Delphi_Digital·
Trevor says RWAs could decide who becomes the next major perp DEX. “Hyperliquid is definitely king. I think who owns RWAs is still up for grabs... whoever ends up owning that market will be like the number two in this space.”
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Delphi Digital
Delphi Digital@Delphi_Digital·
Jason & Flip explain why mega AI IPOs could pull liquidity away from the rest of tech. “They’re just going to act like massive liquidity sucks away from all of the other tech names... how can you fade the company that’s gonna automate away all the jobs?”
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Delphi Digital
Delphi Digital@Delphi_Digital·
BTC is up ~15% since it flipped to coordination on the Game Theory Dashboard.
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Delphi Digital
Delphi Digital@Delphi_Digital·
MegaETH TVL nears $600M following MEGA token launch.
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Delphi Digital
Delphi Digital@Delphi_Digital·
Flip breaks down a hard-earned lesson in crypto. “Never look for beta on the major... trying to own the beta, you ended up underperforming by a wide margin.”
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Delphi Digital
Delphi Digital@Delphi_Digital·
Scott explains why AI is still carrying the market while energy risk lingers. “I’m still in the camp that the downside risks from an energy shock will come quicker than the productivity benefits we would get from this AI movement.”
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