Hi, I'm Matt.
I'm an independent crypto writer interested in onchain capital formation, token mechanism design and regulation. Before that I founded a consumer startup and led product at an ML startup.
These days I invest my own capital and write about how markets form around new assets: AMMs, token sales and the rules that shape them.
Writing
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Meteora's DBC: less early supply, same first-mover race
A steeper Meteora curve gives early buyers less supply, but it does not remove the cheap option or the race to be first.
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Aztec's CCA: good distribution, unproven price discovery
Aztec's auction spread tokens widely on similar terms, but price discovery is unproven.
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The Land Run Is Ending
A naive distribution mechanism gets gamed until it breaks. Crypto's static bonding curve is next.
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Zora — A Rethink of Crypto Social
Pump is a single-round game where your coin is the product. Zora can be a multi-round game where your reputation is the product.