Crypto & decentralized finance
Reconcile custody, carry, collateral, pools and on-chain evidence.
Build understanding through notation, hand calculations, Python examples and checks of the assumptions.
Crypto Markets: Instruments, Ownership and Cash Flows
Read the units and claims before measuring returns.
8 lessons · spot · quote currencies · depth · stablecoins · custody · token supply
Crypto Derivatives: Carry, Funding and Liquidation
Reconcile contract units and collateral through the whole price path.
8 lessons · linear · inverse · dated basis · perpetual funding · margin · liquidation
DeFi: AMMs, Liquidity Provision and Lending
Follow reserves, benchmark inventory and test collateral under stress.
8 lessons · constant product · ranges · LP inventory · LVR · lending · liquidation
On-Chain Markets: Data, Oracles and Execution
Separate transactions from economic activity and inclusion from final settlement.
8 lessons · event logs · gas · ordering · oracles · bridges · finality · audit