Delphi Ventures

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

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

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

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 🧵

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.

Pretty big news as @zksync is releasing its Atlas Network upgrade The upgrade enables 15,000 TPS and 1 second finality between all chains (network can confirm transactions pretty much instantaneously) @grvt_io is the flagship exchange on ZkSync and will benefit enormously from the upgrade Here are all of the reasons why: - L1 assets as live margin: Use ETH, USDC, stETH, etc on mainnet as active collateral on GRVT without moving funds. - Cross asset margin at scale: Unified collateral across pairs and assets with instant risk checks and faster liquidations - Lower latency, tighter spreads: Sub-second L2 confirmations plus rapid L1 verification cut bridge drag and reduce funding/spread volatility - No migration: Capital stays on L1 while backing perps on GRVT. - Institutional on ramps: Tokenized RWAs on Ethereum or institutional ZK chains are zk- erified and usable on GRVT immediately, matching custody requirements. - Throughput for real flow: ~15k TPS enables busy market conditions and better auction/liquidation outcomes. - Composable settlement: Fast L1 finality aligns GRVT’s PnL, margin, and oracle states with Ethereum, reducing tail risk - Strategic alignment: ZKsync’s backing and focus on Atlas make GRVT the default derivatives venue in the ZK Stack ecosystem. ------ Disc. Delphi Ventures invested in GRVT, and bought more on the secondary market to double down on this incredible organized and driven team led by @hong_grvt

Thrilled to announce that 375ai has raised $10m to build a new data layer for the physical world. The raise is led by @Delphi_Digital , @strobefund and @hack_vc, with participation from @6thManVentures, @EV3ventures, @arca, @peaq & others. Read today's exclusive from @blockworks 👇