Published inDragonfly Research·May 12, 2022To All Dragonfly Founders and FriendsThis is a letter that we sent to our portfolio company founders and partners this morning. We thought it may be useful to a wider audience, so we are publishing it here to share with you as well. I hope you are staying safe and sane during these turbulent market…3 min read3 min read
Published inDragonfly Research·Jul 12, 2021We Live In A Mempool: Backrunning the MEV CrisisDespite the prevailing sentiment in the cryptocurrency ecosystem that “code is law” and all is fair game, most crypto systems also rely on some amount of social consensus and good citizenship in order to maintain a good overall user experience. Miners could make the network unusable in order to make…Ethereum10 min readEthereum10 min read
Published inDragonfly Research·Sep 23, 2020Our Investment in Dune AnalyticsToday, we’re excited to announce Dragonfly’s leading investment in Dune Analytics’ seed round. Dune Analytics is building a global, real-time platform for on-chain and DeFi data. Today, there are many companies that offer blockchain data, but Dune has broken through in this market with one key revelation: Dune’s data is…Ethereum2 min readEthereum2 min read
Published inDragonfly Research·Sep 22, 2020The Decentralizer’s DilemmaEveryone: we did it. DeFi hit $10B TVL. We’re in Bloomberg, WSJ, FT. Everyone’s pivoting to DeFi. We nailed it, right? Maybe the sarcasm is a bit much, but I think it’s clear to most people that DeFi is still in the early stages. Whether looking at user numbers, or…Ethereum7 min readEthereum7 min read
Published inDragonfly Research·Jul 13, 2020Request for Crypto StartupsIt’s a common myth that startups begin with a eureka moment — a single stroke of genius. It’s a tempting story, but it sells short the grit and determination an entrepreneur truly needs to navigate the idea maze. …Ethereum7 min readEthereum7 min read
Published inDragonfly Research·Jun 22, 2020Our Investment in OpynToday, we’re excited to announce that Dragonfly Capital is leading investment into Opyn’s seed round. Opyn is solving one of the largest problems facing the decentralized finance ecosystem today: the problem of risk. Risk is endemic to DeFi, from technical risk of smart contract hacks, to volatility risk in the…Ethereum2 min readEthereum2 min read
Published inDragonfly Research·Mar 24, 2020Daos Ex Machina: An In-Depth Timeline of Maker’s Recent CrisisOn March 12th, MakerDAO faced its single worst day in history. Against a global cascading monetary crisis, the value of ETH plummeted over 50%. This tipped off a cascade of liquidations across trading venues, DeFi protocols, and resulted in massive network congestion. …Ethereum15 min readEthereum15 min read
Published inDragonfly Research·Jan 14, 2020Liquidators: The Secret Whales Helping DeFi FunctionBrother, Can You Spare a Gwei? Liquidators are underexamined actors in the DeFi space, working, like miners and validators, behind the scenes to keep the entire system functioning and being handsomely rewarded for doing so. …Blockchain14 min readBlockchain14 min read
Jul 30, 20190x Roadmap 2019 (Part 5): Introducing CoordinatorsThe first DeFi liquidity solution that can support competitive prices — Key Points A Coordinator is a service that enforces rules over trade execution for a specific pool of 0x liquidity. They may be operated as independent services or bundled together with a relayer. Coordinators combine the best characteristics of Order Matching and Open Orderbook relayer models: market makers can perform free, instant…Blockchain11 min readBlockchain11 min read
Jun 28, 20180x V2 Deployed on Kovan, First Audit BeginsWe’re thrilled to announce that 0x V2 is now deployed on the Kovan test network and is available to all developers. Below are the deployed contract addresses: ERC20Proxy: 0x5bc0de240e1c1b211538ca077a82bb39f4179087 ERC721Proxy: 0x6b17ec0b94810e58eac961e501dba27ff35da0fb Exchange: 0xb65619b82c4d385de0c5b4005452c2fdee0f86d1 We’ve also prepared a ganache snapshot for easier local development before testing on Kovan. …Ethereum2 min readEthereum2 min read
