CT systems: making remote collateral actually usable on perps

CT systems are not about printing money. They separate high-velocity internal activity from disciplined exits, keeping backing explicit. A design for perps

Why Most "Crypto Credit Cards" Aren't Really Credit

Most crypto credit cards are debit cards in disguise: you spend your own money. What real onchain credit looks like and why it barely exists yet.

Part III - Programmable, Usage‑Constrained Credit (Cross‑Chain Solvers and Beyond)

The final part of the series develops a concrete architecture for usage‑constrained credit in crosschain intent fulfillment, then generalizes it to other closed‑loop loans.

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

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.

Ready, Set, Stash - The Sprinter Olympics Begin Tomorrow!

Sprinter Stash’s app will officially go live tomorrow at 12pm CET, unlocking a new way for DeFi participants to earn rewards by contributing USDC liquidity to Sprinter Stash.

Introducing Sprinter Stash: Real Yield for LPs, Credit for DeFi.

Sprinter Stash is a new onchain credit protocol that powers the next-generation of use cases, from solver credit lines to trading, whilst rewarding LPs with sustainable, risk-managed stablecoin yield.

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

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. 

Building Economic Trust in Solver-Based Networks – Part 1

What is Economic Trust, and why does Solver-Based Execution need it? As intent-based DeFi architectures evolve, the role of solvers—the agents responsible for fulfilling user intents—has become increasingly central. Solvers compete to route trades, bridge assets, or bundle transactions across chains. They are the execution layer behind the

The 10,000-Account Problem: The Realities of Building Onchain with MPC and AA Today

This post is not meant to be an introduction to these concepts, rather a deeper look at the current state of affairs with the needs of developers in mind. If you want a primer, check out this MPC Intro and this Account Abstraction resource. The Evolution of Embedded Wallets The

Solvers: Into a world of intents

Solvers translate complex blockchain tasks into seamless experiences, mitigating issues like MEV and fragmented ecosystems. As essential players, they ensure transactions are executed efficiently, making blockchain tech more accessible and practical.