X-Order is an investment and research organization dedicated to the study of value capture in open finance. We strive to be a bridge between new finance and interdisciplinary fields with relation to science and research. It is founded by Tony Tao, who is also a partner at NGC Ventures.

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Read Part 1, 2 and 3 here.

Part 2. About Feihu Tang


X-Order is an investment and research organization dedicated to the study of value capture in open finance. We strive to be a bridge between new finance and interdisciplinary fields with relation to science and research. It is founded by Tony Tao, who is also a partner at NGC Ventures.

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Read Part 1 and 2 here.

Part 1. About Andromeda (Continuation)

The Origin of Matataki’s Name

As mentioned above, after adding many features such as “fan tokens” and “stores”, it is no longer appropriate to use the name of “smart signature”. As a result, we rebranded the product. Instant Matataki is the Japanese pronunciation of 瞬き…


X-Order is an investment and research organization dedicated to the study of value capture in open finance. We strive to be a bridge between new finance and interdisciplinary fields with relation to science and research. It is founded by Tony Tao, who is also a partner at NGC Ventures.

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Read Part 1 here.

Part 1. About Andromeda (Continuation)

Matataki has exchange too, does it have any link with the decentralized exchange that you have encountered?

I have to open my own exchange. — Li Xiaolai

Yes, the current liquid protocol used by Instant-Matataki’s exchange is in line with the evolution of Kyubey.network.

In fact, the design of Kyubey exchange originated from a contract we developed called eosotcbackup. As the name suggests, it…


X-Order is an investment and research organization dedicated to the study of value capture in open finance. We strive to be a bridge between new finance and interdisciplinary fields with relation to science and research. It is founded by Tony Tao, who is also a partner at NGC Ventures.

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Before leaving for the World Blockchain Conference in Wuzhen, we had an in-depth interview with Feihu Tang, whose team has development experience across multiple public chains.

In this interview, for the first time, she reviewed her more than a year’s journey of starting her business, her views on the industry, the…


In Part 2, we propose a way to break out of the current situation and possible implementations in the future.

Written by Robin Gu, a Researcher at X-Order, an investment and research organization dedicated to the study of value capture in open finance. We strive to be a bridge between new finance and interdisciplinary fields with relation to science and research. It is founded by Tony Tao, who is also a partner at NGC Ventures.

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In Part 1, we discussed the reasons for the perplexity, industries that disappeared in history, and difficulties in investing in an emerging industry.

The Way to Break Out of the Current Situation

The key to promoting the development of the industry — attractiveness

The development process of the mining industry indicates that we should…


In Part 2, we continue discussing how to use the MOVE Contract by understanding how does the buyer operates. Further, we discuss the practical results of the strategy and before we conclude, we discuss some problems with MOVE and thoughts on potential improvements.

Written by Alan Zhang, a Financial Analyst at X-Order, an investment and research organization dedicated to the study of value capture in open finance. We strive to be a bridge between new finance and interdisciplinary fields with relation to science and research. It is founded by Tony Tao, who is also a partner at NGC Ventures.

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Read Part 1 here.

2. How to Use the MOVE Contract? [Continuation]

2.4 How does the Buyer Operate?

A) Source of Profit

The buyer’s profit mainly comes from the increase in the volatility’s absolute value. Therefore, the premise is to have a low time value. …


In Part 1, we introduce FTX’s MOVE Contract with profit and loss visualisation, and how to use the MOVE Contract.

Written by Alan Zhang, a Financial Analyst at X-Order, an investment and research organization dedicated to the study of value capture in open finance. We strive to be a bridge between new finance and interdisciplinary fields with relation to science and research. It is founded by Tony Tao, who is also a partner at NGC Ventures.

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Derivatives have become a competitive field in cryptocurrency trading. Whether it’s traditional complex derivatives like options or unique and innovative derivatives in the cryptocurrency industry like leveraged tokens, it’s all relatively new for most users.

Naturally, there are huge opportunities.

Opportunities for the exchange


X-Order is an investment and research organization dedicated to the study of value capture in open finance. We strive to be a bridge between new finance and interdisciplinary fields with relation to science and research. It is founded by Tony Tao, who is also a partner at NGC Ventures.

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We interviewed Suji Yan, founder of Dimension, and CTO Yisi Liu. We were deeply impressed by their understanding of technology and perseverance to their dreams.

Guest Interview


In Part 1, we discuss the reasons for the perplexity, industries that disappeared in history, and difficulties in investing in an emerging industry.

Written by Robin Gu, a Researcher at X-Order, an investment and research organization dedicated to the study of value capture in open finance. We strive to be a bridge between new finance and interdisciplinary fields with relation to science and research. It is founded by Tony Tao, who is also a partner at NGC Ventures.

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BTC has risen steadily from $3k USD at the beginning of the year to more than $10k USD, and in October 2019, it dropped slightly to $8k USD. …


We first review the main investment logic of the digital currency market in the past decade. Next, we further analyze the thinking brought by each investment theme and finally discuss one of the possible development trends of the digital currency industry in the future.

Written by Carey Cai, a Financial Analyst at X-Order, an investment and research organization dedicated to the study of value capture in open finance founded by Tony Tao. We strive to be a bridge between new finance and interdisciplinary fields with relation to science and research. Tony Tao is also a partner at NGC Ventures.

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The economist Albert Alchain once said, “economics does not care whether people are rational, but whether people can survive.”

This statement certainly hits home. After ten years of rapid growth in the digital currency market, the impression most people have is that it’s all just…

X-Order

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