The crypto bubble has burst. Is Crypto truly dead? This time, we choose to study the bubble. Even if the answer could be wrong, this is our own certainty.

For teams capable of navigating both the Web3 and AI dimensions, the current period presents a window of opportunity for intervention—whether it's building more reliable on-chain Agent systems at the execution layer or bridging the critical gaps in data, permissions, and trust at the infrastructure layer, there remain significant uncharted territories to be filled.

This article uses the $VCX incident as a core case study, analyzing it from six dimensions: portfolio structure, comparison with similar products, causes of the premium, product nature, rights structure risks, and parallel paths in the crypto market.

Artificial intelligence is at a critical juncture of transitioning from centralized monopoly by giants to a decentralized, transparent "open intelligence"; while the crypto industry, after the gradual improvement of its infrastructure, urgently needs AI to solve problems such as complex on-chain interactions, fragile security, and insufficient application utility.

The real exit is structural migration, not emotional venting; it's about being accepted, not being hyped. The next phase for RWA is not a breakout point, but an access point; not a traffic funnel, but an institutional gateway.

Web3 incentive mechanisms are at a pivotal moment, shifting from the "illusion of traffic" back to the "essence of value."

Prediction markets are not gambling but rather a form of probability forecasting for upcoming events. They are a market mechanism for trading based on the outcomes of future events.

This article is written for institutional and individual investors who hold hope for the industry. Our G2M team attempts to identify the structural shifts that are genuinely propelling the industry toward maturity.

If spot trading was the starting point of DeFi, then perpetual contracts are becoming its true "cash flow core."

This article will start from Kaito's internal mechanisms, systematically deconstruct how it helps projects achieve user growth, and later use two high-quality case studies, @Calderaxyz and @berachain, to verify how these mechanisms are applied to the projects themselves.

The essence of a truly sustainable decentralized community is to embed a fair asset distribution plan that is both incentivizing and sustainable into the community structure.

如果说 Facebook 是在 99 年互联网基建完成后应运而生，那么随着加密世界的持续建设，当下，Web3的 Facebook 时刻也即将到来。

作为Solana生态中炙手可热的明星，Jupiter虽然推出的时间不久但已然在DeFi领域内站稳脚跟。但另一方面，如果没有完善的经济模型和稳定的代币价格做支撑，很容易最终陷入死亡螺旋，可能会对Jupiter自身产生致命的影响。

The social track in Web3 has always been the most controversial track. In web3 where everything revolves around transaction behavior, is on-chain social networking a false demand?

新年伊始，首席分析师Sirius整理了2023年团队将关注的20个重要叙事，涵盖从基础设施到应用层的方方面面。