Knowledge & Research

Education Hub

Curated intelligence on the infrastructure powering the next financial system.

Foundation Crypto and Defi

What is a vault in DeFi (the closest TradFi cousin is a managed fund share class)

July 2026 Read
Foundation Crypto and Defi

Liquid staking tokens (stETH, rETH, cbETH): earning without locking

July 2026 Read
Core RWA and Deal Types

Credit risk math: PD, LGD, EAD, Expected Loss, Unexpected Loss

July 2026 Read
Core Collateral

LTV vs LLTV: origination threshold vs liquidation trigger

July 2026 Read
Foundation Private Credit and RWA

Trade finance, invoice factoring, and receivables discounting

July 2026 Read
Foundation Private Credit and RWA

What is an originator, and how they differ from lenders, servicers, sponsors

July 2026 Read
Foundation Derivatives

Short-selling and leverage: what ratios like 4:1 and 25x actually mean

July 2026 Read
Foundation Crypto and Defi

What is a lending protocol: Aave, Compound, Morpho, and the three-party model

July 2026 Read
Foundation Crypto and Defi

Staking and validators: how proof-of-stake networks pay for security

July 2026 Read
Foundation Crypto and Defi

Stablecoins (USDC, USDT, DAI): how the peg actually holds

July 2026 Read
Glossary Architecture

MetaMorpho V2

July 2026 Read
Glossary Architecture

Morpho Blue

July 2026 Read
Foundation Derivatives

What is a derivative: futures, options, swaps on one page

June 2026 Read
Foundation Custody and Keys

Rehypothecation: what it is, why it killed FTX and Celsius, what segregation looks like

June 2026 Read
Foundation Custody and Keys

MPC explained without the cryptography lecture

June 2026 Read
Foundation Custody and Keys

Self-custody vs third-party custody: the institutional tradeoff

June 2026 Read
Foundation Funds and Entities

DAO LLCs (Marshall Islands, Wyoming): the new fund wrapper

June 2026 Read
Foundation Funds and Entities

KYC, AML, and why institutional capital is gated

June 2026 Read
Foundation Funds and Entities

Qualified and accredited investors: who can buy what

June 2026 Read
Foundation Funds and Entities

What is an SPV, and why every deal has one

June 2026 Read
Foundation Money and Credit

APR vs APY: why the difference matters

May 2026 Read
Foundation Money and Credit

Basis points, spreads, and how lenders think about price

May 2026 Read
Foundation Money and Credit

Seniority and payment priority: senior, mezzanine, junior, equity

May 2026 Read
Foundation Money and Credit

Covenants, defaults, and what a covenant breach really means

May 2026 Read
Foundation Custody and Keys

Multisig wallets, Safes, and shared-key custody

May 2026 Read
Glossary Collateral

LLTV Explained: Liquidation Loan-to-Value Ratio

May 2026 Read
Glossary Hedging

Delta-Neutral: Hedging Direction with Long-Short Pairs

May 2026 Read
Glossary Architecture

TWAP Oracle Explained: How Time-Weighted Pricing Works

May 2026 Read
Core Big Picture

What Rekord Does: An Overview of Provable Finance

May 2026 Read
Core RWA and Deal Types

What Is a Real-World Asset? RWA Lending vs DeFi Yield

May 2026 Read
Core Big Picture

The Capital Cycle: From Stablecoin Deposit to RWA Return

May 2026 Read
Foundation Private Credit and RWA

What is Private Credit? The $1.7T Asset Class Explained

May 2026 Read
Foundation Custody and Keys

What is a Qualified Custodian? BitGo, Anchorage & More

May 2026 Read
Foundation Crypto and Defi

What is a Smart Contract? And What It Can't Enforce

May 2026 Read
Foundation Funds and Entities

What is a fund, and how a master fund is structured

May 2026 Read
Foundation Money and Credit

What is LTV? Loan-to-Value Explained for Crypto Loans

May 2026 Read
Foundation Money and Credit

Secured vs Unsecured Loans: What Collateral Actually Is

May 2026 Read
Foundation Money and Credit

What is a Loan? Principal, Interest, Maturity, Repayment

May 2026 Read