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The ADL Trilemma: What Your Winning Position Costs on a Pooled Permissionless Venue
Every pooled, permissionless venue faces a serious trilemma: no ADL policy can satisfy solvency, revenue, and trader fairness at the same time.
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What CME's 24/7 Launch Still Doesn't Fix
On May 29, CME Group runs 24/7 crypto futures and options on Globex. Coverage will frame this as the closing of the institutional crypto-perp gap.
When Funding Rates Lie
April 2026's BTC funding/price divergence is institutional hedging, not directional positioning. The flow profile that produces it — large, delta-neutral, scheduled, indifferent to direction — is the cleanest live test in years of why bilateral RFQ execution at size matters.
How Gryps Rewards Real Contribution: The Community Engagement Program
Most crypto community programs reward noise. Gryps rewards real contribution — original content, substantive engagement, and work that makes the ecosystem more useful.
