Nadiem Sissouno

Nadiem Sissouno

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.