
Fundamentals
Fundamentals of the internet-native economy.
The world's most valuable companies are born during major platform shifts. We demystify crypto to help you filter the noise.
Latest episodes

May 3, 2023 • 40min
Solana – Interview with Co-Founder Anatoly Yakovenko | 15-min fundamentals ep.51
Anatoly Yakovenko, Co-Founder of Solana, joined us for an episode to discuss what Solana’s core value proposition is, the optimizations Solana has focused on, and how they are positioned within a multi-chain ecosystem. Also, we cover how blockchains can be valued, how economic sustainability should be addressed, the most exciting things happening on Solana right now, who the core contributors behind the blockchain are, and more!
Solana’s dashboard: https://tokenterminal.com/terminal/projects/solana
Solana
Site: https://solana.com/
Twitter: https://twitter.com/solana
Anatoly: https://twitter.com/aeyakovenko
Make sure to leave a comment if you have any questions 🙌
📊 Token Terminal platform:
► https://www.tokenterminal.com/
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Timestamps:
00:00 Introduction
01:52 Solana’s core value propositions
03:37 Optimizations compared to previously launched blockchains
08:05 Solana’s position in the multichain blockchain landscape
11:22 The end game for Solana
14:22 What applications are best suited to be built on Solana?
19:21 The teams that contribute to the core development of the Solana blockchain
20:55 Economic sustainability
24:58 Solana as a venture-backed business
26:52 Are blockchains businesses?
29:42 What are the best metrics to measure/value a blockchain?
31:25 Solana Mobile
36:05 Current growth drivers
39:11 What’s next for Solana?
Crypto redefines the way businesses are built and operated.
Token Terminal gives you the tools to evaluate and track the most promising projects.
The information provided in this episode does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Token Terminal does not recommend that any cryptocurrency or token should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
#Solana #Blockchain #Crypto #TokenTerminal

Apr 25, 2023 • 29min
MakerDAO SES – Removing barriers between decentralized workforce, capital, and work | 15-minute fundamentals ep.50
Wouter Kampmann, Co-Founder at MakerDAO Sustainable Ecosystem Scaling (SES) – a Core Unit that focuses on sustainably growing the Maker Protocol’s moats by removing barriers between decentralized workforce, capital, and work – joined us for an episode to discuss the basics of Maker and the SES Core Unit.
In this episode we cover how Maker is structured as an on-chain organization and break down the current state of its operations, after which we dive into the details behind the MakerDAO ecosystem performance dashboard; we discuss the purpose of the dashboard, the roles of different Core Units, different levels of expense reporting, how budgets are determined, and more.
The MakerDAO expenses dashboard: https://expenses.makerdao.network/
MakerDAO SES
Site: https://ses.makerdao.network/
Twitter: https://twitter.com/MakerDAO_SES
Wouter: https://twitter.com/wkampmann
MakerDAO’s dashboard on Token Terminal: https://tokenterminal.com/terminal
Make sure to leave a comment if you have any questions 🙌
📊 Token Terminal platform:
► https://www.tokenterminal.com/
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💬 Join our Discord:
► https://discord.com/invite/tokenterminal
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📱 Follow us on Twitter:
► https://twitter.com/tokenterminal
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📩 Subscribe to our Newsletter:
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Timestamps:
00:00 Introduction
00:55 MakerDAO and the DAI stablecoin
03:03 What are Core Units?
03:33 The Sustainable Ecosystem Scaling Core Unit
04:40 The expenses dashboard & its purpose
07:05 How is MakerDAO structured as an on-chain organization?
09:42 Overview of the different Core Units & what they do
12:45 How are the budgets for Core Units determined?
15:30 How have budgets and headcount developed over time?
17:06 Overview of Core Unit expense reports
19:42 Forecast & MKR Vesting -tabs
21:20 Auditor cycle – quality control and auditing of expense reports
24:40 What’s next for MakerDAO?
Crypto redefines the way businesses are built and operated.
Token Terminal gives you the tools to evaluate and track the most promising projects.
The information provided in this episode does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Token Terminal does not recommend that any cryptocurrency or token should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
#MakerDAO #DAI #DeFi #Crypto #TokenTerminal

Apr 20, 2023 • 16min
Zora – Bringing imagination on-chain | 15-minute fundamentals ep. 49
Tyson, CTO & Co-Founder of Zora, joined us for an episode the discuss what Zora is, how it works, the state of the NFT market, current growth drivers and challenges, plans for the future, and more. Zora is a non-custodial NFT protocol built on Ethereum that makes it easy for creators and collectors to experience and express creativity and imagination on-chain.
Zora's dashboard on Token Terminal: https://tokenterminal.com/terminal/projects/zora
Zora: https://zora.co/
Twitter: https://twitter.com/ourZORA
Tyson: https://twitter.com/tbtstl
Make sure to leave a comment if you have any questions 🙌
📊 Token Terminal platform:
► https://www.tokenterminal.com/
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💬 Join our Discord:
► https://discord.com/invite/tokenterminal
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📱 Follow us on Twitter:
► https://twitter.com/tokenterminal
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📩 Subscribe to our Newsletter:
► https://tokenterminal.com/resources
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Timestamps:
00:00 Introduction
01:42 The core pain-points that Zora solves for creators and collectors
03:20 Overview of Zora’s product: Protocol & platform
04:05 Most common use-cases for Zora today
05:04 State of the NFT market & Zora’s position within it
06:38 Analyzing the market potential for Zora
07:39 The role of partnerships on Zora: Case “Base, introduced”
09:02 Current growth drivers & challenges
10:54 Technical overview of how Zora works
13:18 Economic and business models
14:06 The team behind Zora
15:10 What’s next for Zora?
Crypto redefines the way businesses are built and operated.
Token Terminal gives you the tools to evaluate and track the most promising projects.
The information provided in this episode does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Token Terminal does not recommend that any cryptocurrency or token should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
#Zora #NFT #crypto #DeFi #TokenTerminal

Apr 17, 2023 • 30min
Trader Joe – Best prices, sustainability, and DeFi for everyone | 15-minute fundamentals ep. 48
Murloc from Trader Joe joined us for another episode of 15-minute fundamentals to discuss the basics of Trader Joe, its mission, how it works, current growth drivers, expanding to new chains, the protocol’s economic model, and more. Trader Joe is a non-custodial exchange protocol built on Avalanche, Arbitrum, and the BNB Chain.
Trader Joe’s dashboard: https://tokenterminal.com/terminal/projects/trader-joe
Trader Joe: https://traderjoexyz.com/
Twitter: https://twitter.com/traderjoe_xyz
Murloc: https://twitter.com/0xmurloc
Make sure to leave a comment if you have any questions 🙌
📊 Token Terminal platform:
► https://www.tokenterminal.com/
-------------------------------------------
💬 Join our Discord:
► https://discord.com/invite/tokenterminal
-------------------------------------------
📱 Follow us on Twitter:
► https://twitter.com/tokenterminal
-------------------------------------------
📩 Subscribe to our Newsletter:
► https://tokenterminal.com/resources
-----------------------------------------
Timestamps:Timestamps:
00:00 Introduction
02:50 Trader Joe’s mission
05:13 Overview of Trader Joe’s core products
07:37 Process for choosing the ecosystems to build in
09:40 The market and Trader Joe’s position within it
11:43 Analyzing market potential
13:00 Current growth drivers
18:55 Technical overview of Liquidity Book
22:20 Economic and business models
24:39 The JOE token
26:41 The team building Trader Joe
27:24 What’s next for Trader Joe?
Crypto redefines the way businesses are built and operated.
Token Terminal gives you the tools to evaluate and track the most promising projects.
The information provided in this episode does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Token Terminal does not recommend that any cryptocurrency or token should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
#TraderJoe #DeFi #TokenTerminal

Apr 12, 2023 • 21min
Ether.fi – A non-custodial delegated staking protocol | 15-minute fundamentals ep.47
Mike Silagadze, Founder & CEO of ether.fi joined us for another episode of 15-minute fundamentals to discuss the basics of ether.fi, how it works, its position whiting the staking market, current opportunities and challenges, the team behind the projects, what effects the Shanghai upgrade might have, plans for the future, and more. Ether.fi is a non-custodial delegated staking protocol.
Ether.fi’s dashboard: https://tokenterminal.com/terminal/projects/etherfi
ether.fi: https://ether.fi/
Twitter: https://twitter.com/ether_fi
Mike: https://twitter.com/MikeSilagadze
Make sure to leave a comment if you have any questions 🙌
📊 Token Terminal platform:
► https://www.tokenterminal.com/
-------------------------------------------
💬 Join our Discord:
► https://discord.com/invite/tokenterminal
-------------------------------------------
📱 Follow us on Twitter:
► https://twitter.com/tokenterminal
-------------------------------------------
📩 Subscribe to our Newsletter:
► https://tokenterminal.com/resources
-----------------------------------------
Timestamps:
Timestamps:
00:00 Introduction
02:08 What problem does ether.fi solve?
04:14 Overview of ether.fi’s product
07:28 Technical breakdown of staking & the ether.fi protocol
11:50 Ether.fi’s current users and target audience
13:23 Economic and business model
15:03 Current state of the staking market (opportunities and risks)
17:58 Growth drivers and challenges
19:22 The team building ether.fi
20:01 What’s next for ether.fi?
Crypto redefines the way businesses are built and operated.
Token Terminal gives you the tools to evaluate and track the most promising projects.
The information provided in this episode does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Token Terminal does not recommend that any cryptocurrency or token should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
#etherfi #ethereum #staking #DeFi #TokenTerminal

Apr 11, 2023 • 22min
Gauntlet – Financial modelling for on-chain protocol management | 15-minute fundamentals ep. 46
Gauntlet is a financial modelling platform that uses battle-tested techniques from the algorithmic trading industry to inform on-chain protocol management.
Nick Cannon joined us for an episode to cover the basics of Gauntlet, the core problem that Gauntlet has set out to solve, core products and how they work under the hood, what Gauntlet’s work with different protocols and DAOs looks like in practice, current growth drivers and challenges, plans for the future, and more!
Gauntlet: https://gauntlet.network/
Nick: https://twitter.com/inkymaze
Make sure to leave a comment if you have any questions 🙌
📊 Token Terminal platform:
► https://www.tokenterminal.com/
-------------------------------------------
💬 Join our Discord:
► https://discord.com/invite/tokenterminal
-------------------------------------------
📱 Follow us on Twitter:
► https://twitter.com/tokenterminal
-------------------------------------------
📩 Subscribe to our Newsletter:
► https://tokenterminal.com/resources
-------------------------------------------
Timestamps:
00:00 Introduction
01:07 Gauntlet’s mission
01:55 What pain-points does Gauntlet solve for protocols and DAOs?
03:07 Overview of Gauntlet’s core product
03:30 How does Gauntlet work with DAOs in practice?
05:46 Case example: How does Gauntlet work with Aave?
07:34 Helping DAOs maintain sustainable business models
09:03 How does Gauntlet work under the hood?
13:52 Analyzing the market opportunity for Gauntlet
16:31 How does Gauntlet make money?
17:19 Current growth drivers and challenges
18:30 The team building Gauntlet
19:34 What’s next for Gauntlet?
Crypto redefines the way businesses are built and operated.
Token Terminal gives you the tools to evaluate and track the most promising projects.
#TokenTerminal #Gauntlet #DeFi #crypto

Apr 3, 2023 • 23min
Perpetual Protocol – Decentralized trading on Optimism | 15-minute fundamentals ep.45
Jamie Holmes from Perpetual Protocol joined us for another episode of 15-minute fundamentals to discuss the past few months at Perp, current growth drivers and challenges, new products and markets, ensuring security, and more. Perpetual Protocol is an on-chain perpetual futures DEX built on Optimism, with deep liquidity and builder-ready composability.
https://tokenterminal.com/terminal/projects/perpetual-protocol
Perpetual Protocol: https://perp.com/
Twitter: https://twitter.com/perpprotocol
Jamie: https://twitter.com/JHolme5
Make sure to leave a comment if you have any questions 🙌
📊 Token Terminal platform:
► https://www.tokenterminal.com/
-------------------------------------------
💬 Join our Discord:
► https://discord.com/invite/tokenterminal
-------------------------------------------
📱 Follow us on Twitter:
► https://twitter.com/tokenterminal
-------------------------------------------
📩 Subscribe to our Newsletter:
► https://tokenterminal.com/resources
-----------------------------------------
Timestamps:
00:00 Introduction
01:39 Recap of the past few months at Perpetual Protocol
03:54 Drivers behind current momentum
05:05 Lazy River 2.0 – introduction of fee sharing
06:28 Overview of Lazy River’s smart contracts
08:07 Hot Tub vaults
08:27 The problem that Hot Tub vaults solve
08:55 Overview of Hot Tub’s smart contracts
11:05 Ensuring security – smart contract development process
12:26 The market and Perpetual Protocol’s position within it
14:29 Growth drivers and challenges
19:02 What’s next for Perpetual Protocol?
Crypto redefines the way businesses are built and operated.
Token Terminal gives you the tools to evaluate and track the most promising projects.
The information provided in this episode does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Token Terminal does not recommend that any cryptocurrency or token should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
#PerpetualProtocol #PERP #Crypto #DeFi #TokenTerminal

Mar 27, 2023 • 26min
Synthetix – Building a universal liquidity layer for DeFi | 15-minute fundamentals ep.44
Mike Griffith & Matt Losquadro, core contributors at Synthetix – a derivatives liquidity protocol – joined us for an episode to discuss the basics of the protocol, how it works, Synthetix V3, the market, what makes Synthetix unique, current growth drivers and challenges, economic model, plans for the future, and more.
Synthetix’s dashboard on Token Terminal: https://tokenterminal.com/terminal/projects/synthetix
Synthetix
Site: https://synthetix.io/
Twitter: https://twitter.com/synthetix_io
Mike: https://twitter.com/MikeGriff11
Matt: https://twitter.com/MattLosquadro
Make sure to leave a comment if you have any questions 🙌
📊 Token Terminal platform:
► https://www.tokenterminal.com/
-----------------------------------------
💬 Join our Discord:
► https://discord.com/invite/tokenterminal
-----------------------------------------
📱 Follow us on Twitter:
► https://twitter.com/tokenterminal
-----------------------------------------
📩 Subscribe to our Newsletter:
► https://tokenterminal.com/resources
-----------------------------------------
Timestamps:
00:00 Introduction & what is Synthetix
02:52 What is Synthetix’s purpose?
04:35 Core products & their features
07:39 Innovations and smart contract infrastructure
10:15 The market & Synthetix’s position within it
12:50 Synthetix V3
15:08 Analyzing the market opportunity
17:22 Economic and business models
18:46 Growth drivers and challenges
21:07 Core contributors at Synthetix
23:18 The SNX token
24:12 What’s next for Synthetix?
Crypto redefines the way businesses are built and operated.
Token Terminal gives you the tools to evaluate and track the most promising projects.
The information provided in this episode does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Token Terminal does not recommend that any cryptocurrency or token should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
#Synthetix #Crypto #DeFi #TokenTerminal

Mar 21, 2023 • 32min
Allbridge – Cross-chain bridge between EVM and non-EVM blockchains | 15-minute fundamentals ep.43
Andriy Velykyy, Co-Founder of Allbridge – a cross-chain bridge between EVM and non-EVM compatible blockchains – joined us for an episode to discuss the basics of the protocol, how it works, the bridge market, what makes Allbridge unique, current growth drivers and challenges, economic model, plans for the future, and more.
Allbridge’s dashboard on Token Terminal: https://tokenterminal.com/terminal/projects/allbridge
Allbridge
Site: https://allbridge.io/
Twitter: https://twitter.com/Allbridge_io
Andriy: https://twitter.com/avelykyy
Make sure to leave a comment if you have any questions 🙌
📊 Token Terminal platform:
► https://www.tokenterminal.com/
-----------------------------------------
💬 Join our Discord:
► https://discord.com/invite/tokenterminal
-----------------------------------------
📱 Follow us on Twitter:
► https://twitter.com/tokenterminal
-----------------------------------------
📩 Subscribe to our Newsletter:
► https://tokenterminal.com/resources
-----------------------------------------
Timestamps:
00:00 Introduction & what is Allbridge
02:30 What is Allbridge’s purpose?
03:48 Core products & their features (Classic & Core)
07:27 The bridge market & Allbridge’s position within it
12:08 Analyzing the market opportunity
13:50 Technical breakdown of Allbridge Core
16:51 Economic and business models
21:47 Growth drivers and challenges
24:42 Approach to ensuring the technical security of the protocol
26:41 The team behind Allbridge
27:31 Allbridge BaaS
28:18 Cross-chain privacy
29:37 What’s next for Allbridge?
Crypto redefines the way businesses are built and operated.
Token Terminal gives you the tools to evaluate and track the most promising projects.
The information provided in this episode does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Token Terminal does not recommend that any cryptocurrency or token should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
#Allbridge #TokenTerminal #crypto #defi #bridge

Mar 6, 2023 • 20min
PancakeSwap – A multichain all-in-one DeFi hub | 15-minute fundamentals ep.42
Chef Mochi, Head Chef at PancakeSwap – a multichain all-in-one DeFi hub – joined us for an episode to discuss the basics of PancakeSwap, how it works, the market, what makes PancakeSwap unique, expanding to new chains, current growth drivers and challenges, economic model, the CAKE token, plans for the future, and more.
PancakeSwap’s dashboard: https://tokenterminal.com/terminal/projects/pancakeswap
PancakeSwap:
Site: https://pancakeswap.finance/
Twitter: https://twitter.com/PancakeSwap
Chef Mochi: https://twitter.com/chef_mochi
Make sure to leave a comment if you have any questions 🙌
📊 Token Terminal platform:
► https://www.tokenterminal.com/
-----------------------------------------
💬 Join our Discord:
► https://discord.com/invite/tokenterminal
-----------------------------------------
📱 Follow us on Twitter:
► https://twitter.com/tokenterminal
-----------------------------------------
📩 Subscribe to our Newsletter:
► https://tokenterminal.com/resources
-----------------------------------------
Timestamps:
00:00 Introduction
00:42 What is PancakeSwap?
02:52 What problem does PancakeSwap solve?
03:38 Core products and their features
05:37 The market & how PancakeSwap is positioned within it
07:50 Analyzing market potential
09:17 Launching PancakeSwap on Ethereum
11:39 Main differences in building on BNB Chain vs. Ethereum
12:37 Approach to capturing market share on new chains
13:49 The team behind PancakeSwap
15:18 Overview of the economic model & stakeholders involved
16:19 Growth drivers & challenges
17:28 The CAKE token & incentives
18:39 What’s next for PancakeSwap?
Crypto redefines the way businesses are built and operated.
Token Terminal gives you the tools to evaluate and track the most promising projects.
The information provided in this episode does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Token Terminal does not recommend that any cryptocurrency or token should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
#PancakeSwap #DeFi #TokenTerminal
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