Long form
The pieces that take weeks, not a morning.
Market structure, token design and the agent economy. Published for institutional readers first, redrawn here with the original figures.
20 Mar 202627 min read
To BASE or Not to BASE
Base leads every Ethereum L2 in DeFi TVL and sequencer revenue without a token. A four-pillar BASE could turn a 1.1% revenue line into a $1.2 billion Coinbase balance-sheet asset.
Base · Coinbase · Layer 2
10 Feb 20269 min read
When Machines Become Economic Actors
x402 gives agents a way to pay and ERC-8004 gives them a way to be trusted. Clawd.atg.eth shows what an agent-run business looks like once both exist.
AI agents · x402 · ERC-8004