Research

Part II - Instant vs. Guaranteed Settlement, Perps, Factoring, and Usage‑Constrained Credit

Part II - Instant vs. Guaranteed Settlement, Perps, Factoring, and Usage‑Constrained Credit

While we wait for payment, how do we move value safely? For the answer to this, and other questions on credit mechanisms and guarantees, read Part II of our Beyond Loans series.

Beyond Loans — Credit as Price, Collateral, and Code: Part I

Beyond Loans — Credit as Price, Collateral, and Code: Part I

The invisible thread is credit—sometimes explicit, sometimes implicit, sometimes just the promise that when needed, there is cash in the room. This series is about that thread: how we price it, how we secure it, and how code is changing what “settlement” even means.

Building Economic Trust in Solver-Based Networks – Part 3: Reclaiming Efficient Markets

Building Economic Trust in Solver-Based Networks – Part 3: Reclaiming Efficient Markets

This article is based on the talk ‘Rethinking Competition in Solver-Based Networks’ given at Protocol Berg in Berlin June 13th 2025. (Watch it here) In Part 2, we looked under the hood of real-world solver networks like CoW Protocol and Across. What we found was clear: * A handful of solvers

Building Economic Trust in Solver-Based Networks – Part 2: The State of Competition

Building Economic Trust in Solver-Based Networks – Part 2: The State of Competition

This post explores how today's competition models in solver-based protocols are evolving — and in some cases, replicating the same centralization dynamics we hoped to escape.

On The Road to Trustless Interoperability

On The Road to Trustless Interoperability

📢Important Update: Sygma has evolved into Sprinter, shifting from traditional bridging to solvers and intent-centric infrastructure. While these posts reference Sygma, the core mission has expanded—Sprinter now focuses on optimizing cross-chain execution through solver-driven and intent-centric tools. People often casually use the word trustless. It lines up with the

A Defense-in-Depth Approach: Notes on Sygma Security

A Defense-in-Depth Approach: Notes on Sygma Security

Cross-chain bridges are amongst the most targeted applications in crypto, as they inevitably represent a decentralization bottleneck compared to the chains they connect.

Multi-Party Computation: The Next Generation of Crypto Security

Multi-Party Computation: The Next Generation of Crypto Security

Secure MPC represents a powerful next step in digital asset security because it eliminates the risks of a single point of compromise.