
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

Mar 1, 2023 • 19min
Metavault.Trade – Decentralized spot & perpetual exchange | 15-minute fundamentals ep.41
Anna from Metavault.Trade – a decentralized spot & perpetual exchange – joined us for an episode to discuss the basics of Metavault, how it works, the exchange market, what makes Metavault unique, current growth drivers and challenges, economic model, plans for the future, and more.
Metavault’s dashboard on Token Terminal: https://tokenterminal.com/terminal/projects/metavault-trade
Metavault.Trade:
Site: https://metavault.trade/
Twitter: https://twitter.com/MetavaultTRADE
Anna: https://twitter.com/0xAnna0
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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► https://tokenterminal.com/resources
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Timestamps:
00:00 Introduction & what is Metavault.Trade
02:35 What is Metavault’s purpose?
03:40 Core products & their features
05:23 Smart contract infrastructure
06:06 The derivatives market & Metavault’s position within it
08:33 Analyzing the market opportunity
09:36 The team behind Metavault
11:12 Economic and business models
12:07 Growth drivers and challenges
14:04 Current biz dev focus areas
14:55 Overview of MVX, MVLP, and MVD & token incentives
15:33 What’s next for Metavault.Trade?
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.
#MetavaultTrade #MetaVault #Crypto #DeFi #TokenTerminal

Feb 27, 2023 • 28min
Arbitrum – Solutions for the blockchain scalability trilemma | 15-minute fundamentals ep.40
A.J. Warner, Chief Strategy Officer at Offchain Labs, the team behind Arbitrum – a Layer 2 smart contract platform for decentralized applications on Ethereum – joined us for an episode to discuss the basics of Arbitrum, how it works, the scaling solution market, what makes Arbitrum unique, current growth drivers and challenges, economic model, plans for the future, and more.
Arbitrum’s dashboard on Token Terminal: https://tokenterminal.com/terminal/projects/arbitrum
Arbitrum:
Site: https://arbitrum.io/
Twitter: https://twitter.com/arbitrum
A.J.: https://twitter.com/ajwarner90
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.substack.com/
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Timestamps:
00:00 Introduction & what is Arbitrum
04:12 The scaling solution market & how Arbitrum is positioned within it
08:30 Arbitrum Nova and its use-cases
10:10 How is Nova different from a typical sidechain?
13:12 Arbitrum One’s smart contract infrastructure
17:56 Arbitrum’s economic model
18:46 The team behind Arbitrum
20:37 The drivers behind recent momentum
21:58 Flipping Ethereum in daily transaction count
22:39 Network throughput and capacity
24:38 Challenges to tackle
25:05 What’s next for Arbitrum?
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.
#Arbitrum #Ethereum #Crypto #TokenTerminal

Feb 23, 2023 • 19min
GMX – Creating liquid markets on-chain | 15-min fundamentals ep. 39
Coinflipcanada, a core contributor at GMX – non-custodial exchange for spot and perpetual contracts built on Arbitrum and Avalanche – joined us for an episode to discuss the basics of GMX, how it works, the exchange market, what makes GMX unique, current growth drivers and challenges, economic model, the GX and GLP tokens, plans for the future, and more.
The GMX dashboard: https://tokenterminal.com/terminal/projects/gmx
Site: https://gmx.io/#/
Twitter: https://twitter.com/GMX_IO
Coinflipcanada: https://twitter.com/coinflipcanada
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.substack.com/
-----------------------------------------
Timestamps:
00:00 Introduction
01:16 What is GMX?
02:52 How does the GMX exchange work?
04:55 The exchange market & how GMX is positioned within it
07:10 Overview of the economic model & stakeholders involved
09:33 Growth drivers and challenges
12:50 GMXs smart contract infrastructure
14:50 Core contributors behind GMX
16:54 The GMX & GLP tokens
18:20 What’s next for GMX?
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.
#GMX #DeFi #TokenTerminal

Feb 20, 2023 • 18min
Across Protocol – A capital efficient bridge for L2s and rollups | 15-minute fundamentals ep.38
Hart Lambur, Co-Founder of Across Protocol – a cross-chain bridge for L2s and rollups secured by UMA's optimistic oracle – joined us for an episode to discuss the basics of Across, how it works, the bridge market, what makes Across unique, current growth drivers and challenges, business model, the ACX token, plans for the future, and more.
Across Protocol dashboard: https://tokenterminal.com/terminal/projects/across
Across Protocol:
Site: https://across.to/
Twitter: https://twitter.com/AcrossProtocol
Hart: https://twitter.com/hal2001
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.substack.com/
-----------------------------------------
Timestamps:
00:00 Introduction
01:39 What is Across Protocol
02:46 The bridge market & how Across is positioned within it
06:09 How does Across work & what makes it unique?
08:30 Overview of the economic model & stakeholders involved
10:36 The team behind Across
12:15 Analyzing market potential (the bull case for Across)
14:20 Current growth drivers and challenges
15:48 The ACX token
16:58 What’s next for Across?
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.
#AcrossProtocol #ACX #TokenTerminal

Feb 16, 2023 • 12min
Paragons DAO – Growth partner for blockchain-powered gaming ecosystems | 15-minute fundamentals ep. 37
DeFi Ted from Paragons DAO – an economic and social partner-DAO to promising blockchain-powered gaming ecosystems – joined us for an episode to discuss the basics of Paragons DAO, the Parallel Trading card game, current growth drivers and challenges, Paragon’s business model, the PDT token, upcoming developments, plans for the future, community activity, and more.
Paragons DAOs dashboard: https://tokenterminal.com/terminal/projects/paragonsdao
Read about Paragon’s new gaming vision: https://medium.com/paragonsdao/empowering-the-web3-gaming-ecosystem-f6b1f477a9ec
Paragons DAO:
Site: https://paragonsdao.com/
Twitter: https://twitter.com/ParagonsDAO
DeFI Ted: https://twitter.com/DeFi_Ted
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.substack.com/
-----------------------------------------
Timestamps:
00:00 Introduction
01:03 What is Paragons DAO?
02:10 Parallel trading card game
03:08 What does it mean to be a partner-DAO to gaming ecosystems?
05:03 Paragon’s current and future revenue streams
06:36 The PDT token
08:03 Current biz dev focus areas
09:00 Growth drivers and challenges
09:58 Community contributors and activity
11:05 What’s next for Paragons DAO?
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.
#ParagonsDAO #PDT #TokenTerminal

Feb 14, 2023 • 22min
Gearbox Protocol – A composable DeFi-native leverage protocol | 15-minute fundamentals ep. 36
Amplice from Gearbox Protocol – a composable leverage protocol that connects passive liquidity providers to active borrowers – joined us for an episode to discuss the basics of Gearbox, current growth drivers and challenges, the protocol’s economic and business models, the GEAR token and the DAO, positioning within the leverage market, upcoming developments, and more!
Gearbox Protocol’s dashboard: https://tokenterminal.com/terminal/projects/gearbox
Gearbox Protocol:
Site: https://gearbox.fi/
Docs: https://docs.gearbox.finance/
Twitter: https://twitter.com/GearboxProtocol
Amplice: https://twitter.com/astr0bas3d
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.substack.com/
-----------------------------------------
Timestamps:
00:00 Introduction
00:38 What is Gearbox Protocol?
02:09 What are Credit Accounts and how do they work?
03:28 Passive liquidity providers and active borrowers
04:26 Gearbox’s business and economic models
07:16 Growth drivers and challenges
10:12 How is Gearbox positioned within the market?
12:19 The GEAR token
15:08 Token incentives
15:53 Community contributors and activity
17:59 What’s next for Gearbox 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.
#GearboxProtocol #GEAR #TokenTerminal

Feb 9, 2023 • 19min
Gains Network – Decentralized and capital efficient leverage trading | 15-minute fundamentals ep. 35
Seb, Founder of Gains Network which is the organization that is developing gTrade – a liquidity-efficient, decentralized leveraged trading platform – joined us for an episode to discuss the basics of gTrade, the differences between Polygon and Arbitrum, drivers behind current traction, the GNS token, and more!
Gains Network’s dashboard: https://tokenterminal.com/terminal/projects/gains-network
GNS NFTs: https://gains-network.gitbook.io/docs-home/what-is-gains-network/nfts
Gains Network:
Site: https://gainsnetwork.io/
Docs: https://gains-network.gitbook.io/docs-home/
Twitter: https://twitter.com/GainsNetwork_io
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.substack.com/
-----------------------------------------
Timestamps:
00:00 Introduction
00:52 What is Gains Network & gTrade?
01:40 What innovations has gTrade introduced to the market?
02:28 The features of an oracle-based platform
03:41 Gains’ business and economic model
07:22 GNS NFTs
08:08 Drivers behind current traction
11:19 Differences between Polygon and Arbitrum
12:38 Current biz dev focus areas
14:15 Community contributors
14:52 What’s next for Gains Network?
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.
#GainsNetwork #GNS #gTrade #Arbitrum #Polygon #TokenTerminal

Jan 13, 2023 • 25min
Full interview with Anna George – Co-Founder of CoW Protocol | Token Terminal
Anna George, Co-Founder of CoW Protocol – a meta-DEX aggregation protocol that acts as a batch settlement layer on top of all other AMMs & DEX aggregators – joined us for an episode to discuss the basics of CoW Protocol, how its positioned within the market, how it came to be, the current economic model and plan for monetization, the challenges that need to be tackled, the COW token, and more!
CoW Protocol’s dashboard: https://tokenterminal.com/terminal/projects/cow-protocol
CoW Protocol:
Site: https://cow.fi/
Docs: https://docs.cow.fi/
Twitter: https://twitter.com/CoWSwap
Anna: https://twitter.com/AnnaMSGeorge
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.substack.com/
-----------------------------------------
Timestamps:
00:00 Intro
01:00 What is CoW Protocol?
02:04 Origin story
04:28 The main innovations that CoW Protocol introduces to the market
08:10 What are Solvers? An overview of CoW’s stakeholders
11:20 CoW’s economic model and approach to monetization
13:18 How is CoW positioned within the broader exchange market?
16:42 The COW token & airdrop
20:30 Current challenges to tackle
22:36 What’s next for CoW 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.
#CoWProtocol #CoWSwap #DEX #TokenTerminal #crypto

Jan 13, 2023 • 18min
CoW Protocol – A batch settlement layer on top of AMMs & DEX aggregators | 15-min fundamentals ep.34
Anna George, Co-Founder of CoW Protocol – a meta-DEX aggregation protocol that acts as a batch settlement layer on top of all other AMMs & DEX aggregators – joined us for an episode to discuss the basics of CoW Protocol, how its positioned within the market, how it came to be, the current economic model and plan for monetization, the challenges that need to be tackled, the COW token, and more!
Watch the extended version of our interview with Anna here: https://youtu.be/n91Aqd7IncE
CoW Protocol’s dashboard: https://tokenterminal.com/terminal/projects/cow-protocol
CoW Protocol:
Site: https://cow.fi/
Docs: https://docs.cow.fi/
Twitter: https://twitter.com/CoWSwap
Anna: https://twitter.com/AnnaMSGeorge
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.substack.com/
-----------------------------------------
Timestamps:
00:00 Intro
00:41 What is CoW Protocol?
02:04 The main innovations that CoW Protocol introduces to the market
05:40 What are Solvers? An overview of CoW’s stakeholders
08:50 CoW’s economic model and approach to monetization
10:42 The COW token & airdrop
14:27 Current challenges to tackle
15:55 What’s next for CoW 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.
#CoWProtocol #CoWSwap #DEX #TokenTerminal #crypto

6 snips
Jan 9, 2023 • 28min
Blur – the NFT marketplace for pro traders | Interview with Pacman | Token Terminal
In this series, we interview core contributors within crypto and gain insights into their day-to-day operations. In this episode, I’m joined by Pacman – founder of Blur – the NFT marketplace for pro traders. Blur launched in October 2022 and quickly established itself as the market leader in terms of volume in the NFT space.
Blur’s dashboard on Token Terminal: https://tokenterminal.com/terminal/projects/blur
Blur:
Site: https://blur.io/
Twitter: https://twitter.com/blur_io
Pacman: https://twitter.com/PacmanBlur
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.substack.com/
-----------------------------------------
Timestamps:
00:00 Intro
00:41 What is Blur and who is building it?
02:32 Blur’s approach to improving the NFT market
04:48 Pro traders & the different types of NFT buyers
06:20 Drivers behind current traction
07:14 Blur’s economic model
08:10 Approach to protocol value accrual
09:33 Maximizing the value of Blur over the long term
10:53 The BLUR airdrop
15:20 Creator royalties (history, current situation, and Blur’s approach)
21:27 Improving the liquidity of the NFT market
24:55 Blur Bids
25:45 What’s next for Blur?
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.
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