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一个叫菠菜的研究员 ｜RMIT Master of Blockchain｜Web3caff Reseacher｜ENFP｜Mirror: http://mirror.xyz/bocaibocai.eth
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In-depth research report on the Resolv protocol hacking incident: Who will ultimately pay the price?
The Resolv protocol was attacked, with attackers exploiting a USR minting vulnerability to create 80 million stablecoins out of thin air and cash out, revealing the fundamental contradiction between capital efficiency and security in Delta-neutral stablecoins. DeFi protocols such as Curve and Morpho were also impacted.
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Deconstructing the new ministerial regulations: 5 key points, RWA is no longer a gray area.
Eight Chinese ministries jointly released new regulations for virtual currencies in 2026, clarifying the definition of RWA for the first time, establishing a registration system for the tokenization of domestic assets going overseas, and requiring financial institutions to obtain licenses to participate in compliant RWA business.
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The tug-of-war between two paths behind the tokenization of DTCC in the US stock market: the debate between DTCC's "improvement" and crypto-native "revolution".
DTCC's approval to tokenize security interests upgrades the efficiency of the existing system; direct holding of tokenized shares challenges the intermediary structure. These two paths reveal different futures for security tokenization, and the market will determine which model is superior.
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In-depth analysis: From M0 to M1, the strategic significance and market challenges of the digital yuan's positioning shift.
Moving from M0 to M1, from engineering-driven development to infrastructure-based operation, and from a singular domestic logic to a dual design encompassing both onshore and offshore aspects.
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$93 million misappropriated? A retrospective on the truth behind Stream Finance's collapse.
A DeFi protocol can be "transferred" at will, and user funds can be misappropriated at will, with no real institutional constraints at any stage of the process.
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Why has the traditional regulatory system become a joke on the blockchain?
The absurd Travel Rule, which is still being implemented by regulators around the world, has been applied chaotically and has limited effectiveness in the crypto space.
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Singapore’s regulatory arbitrage ends, and the Web3 “big retreat” begins
In Singapore, the era of regulatory arbitrage has officially ended, and the era of big fish eating small fish has arrived.
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The Web3 industry is entering a "new era of compliance." Is our all-out "Mass Adoption" the wrong path?
Supervision is always at the top of the industry ecosystem. This is not only an objective fact, but also an iron law that has been repeatedly verified in the development of the crypto industry over the past decade. Every major industry turning point is almost closely related to regulatory policies.
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耶鲁大学提出ServerFi概念：GameFi之后，游戏与玩家之间的新型共生关系
耶鲁大学的这篇论文提出了两种全新的代币经济模型并进行了一系列模拟，为GameFi提供了一些可持续性发展的新思路。
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德意志银行加密报告：通往机构去中心化金融（DeFi）之路
与原生 DeFi 的无准入、由智能合约保管资产、由 DAO 组织治理的特性不同，机构 DeFi 强调由受监管的金融机构来保管资产，通过数字身份形式进行 KYC/AML，并由专门的组织和专业人士进行治理。
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德意志银行研报：通往机构DeFi之路
与原生 DeFi 的无准入、由智能合约保管资产、由 DAO 组织治理的特性不同，机构 DeFi 强调由受监管的金融机构来保管资产，通过数字身份形式进行 KYC/AML，并由专门的组织和专业人士进行治理。
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万字解读新加坡金管局《全球Layer 1 - 金融网络的基础层》白皮书
新加坡将建立一条重要的「央行区块链」。
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白话解读Web3签名钓鱼底层逻辑：授权钓鱼、Permit与Permit2的区别
签名是发生在区块链之外的（链下），不需要花Gas费的；交互是发生在区块链上面的（链上），是需要花Gas费的。
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Sui生态迎来爆发，Navi与Scallop的借贷龙头之战打响
评估 DeFi 协议，不能单纯看 TVL。
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Move智能铭文爆火后，SFT还能有哪些创新玩法？
Move 智能铭文的爆火后，SFT (Semi-Fungible Token) 半同质化资产赛道即将在牛市爆发？SFT 类型资产还能有哪些创新玩法？
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