Nico Pei's Rational Reverie

$ENA has passed its prime. Long live Market Risk Free Rate.

BTC broke ATH last Friday. It broke ATH again last night. However, sUSDE, the prevalent yield-bearing stablecoin that promises to capture the funding…

Jul 14 • 

Nico Pei

March 2025

600m TVL in 3 Months: Is Resolv the Better Ethena?

An exploration on the definition of good minted cash and Resolv’s design — the new, the risk, the goods and bads

Mar 7 • 

Nico Pei

2

January 2025

America's Next Frontier: Creating an On-chain Free Market For Money

In response to Treasury Secretary Bessent’s “Dollar must remain the world’s reserve currency” and Trump’s crypto America

Jan 27 • 

Nico Pei

2

October 2024

Why Stripe acquired Bridge for 1.1 Billion

To my surprise, many mainstream media reporters and investors reached out to learn more about this deal. I thought it would be more efficient for…

Oct 21, 2024 • 

Nico Pei

1

5

What Stripe Has Done Wrong with Their Crypto Payment Solution

An anonymous but trusted source told me that Stripe just acquired Bridge, a crypto / fiat conversion API solution, for 900M dollar last week. It all…

Oct 9, 2024 • 

Nico Pei

5

December 2022

General-Purpose vs App-Specific Guide for Application Developers

Evaluating tradeoffs of general-purpose and application-specific infrastructures for applications from eight perspectives - How would you pick, anons?

Dec 9, 2022 • 

Nico Pei

1

April 2022

Programmable Tokens

The Financial Layer and More

Apr 14, 2022 • 

Nico Pei

2

February 2022