danny
Not here to give answers—just vibing through different angles and perspectives. 都是瞎编，笑笑就好
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Settlement and Shadow Liquidity: The Encrypted Millennium of Chaoshan Underground Banks
What you think of as DeFi is nothing more than a digital distribution channel for underground banks.
danny
OKB 2026: A Decisive Supply-Side Revolution
OKB is ushering in its AWS moment: burning 10 million tokens to lock a total supply of 21 million, transforming from an exchange token to a Web3 infrastructure, and becoming a native on-chain asset and traffic portal by relying on the X Layer public chain and OKX wallet.
danny
The Economics of "Ploughing" (or "Further Exploitation"): The Hidden Symbiotic Chain Between Project Teams, VCs, and Studios
High-end stumbling blocks often appear as stepping stones: the mirage and epitaph of a project "colluding" with profit-seekers.
danny
300 million users and a 10% shadow dividend: Deconstructing the "three-phase growth" logic of BNB in 2026
BNB has evolved from an exchange token into a multi-dimensional composite asset. This article proposes a "three-phase growth model" to assess its value: the exchange curve (implicit dividends and deflation), the public chain curve (on-chain demand and liquidity), and the digital asset treasury curve (institutional capital driven).
danny
From humble beginnings to the pinnacle: A review of the milestones that defined the 2025 crypto market landscape.
This article will review what I personally consider to be 10 landmark events in the crypto industry in 2025.
danny
2025, ETH will rise from the ashes.
Does Ethereum still have a future? What category does it belong to? Does it have a clear and sustainable business model?
danny
The Rise and Fall of Binance's Dominance: From BUSD's "Unification" to $U's "Conquering the World"—The Stablecoin Wars
From FDUSD to BFUSD, and then to United Stables ($U), Binance has not given up on stablecoins. Instead, it has evolved through failures, shifting from a hegemonic unification to an aggregate-based absorption, and even paving the way for the AI economy.
danny
Contract Algorithm Scythe (13): From Forced Liquidation to ADL, Who Should Be Responsible for “Overturning the Table”?
What drove the so-called "fair" protocols and exchanges to the brink of collapse?
danny
When tokens are the only product and source of revenue: A Fujian businessman's shovel can't make a 25-year-old counterfeit sickle.
Who exactly has contributed to the current situation of high FDV and low circulation? Who is shaping the token into the ultimate product/service?
danny
Beyond just trading volume, "asset turnover" reveals the true strength and inflated claims of an exchange.
Quantitative relationship between exchange asset reserve POR and trading volume: What information are exchanges hiding?
danny
The deadly trap behind the exorbitant profits of IPO subscriptions: How can retail investors use a "chain of traps" to fight against the snipers of market manipulators?
The ultimate victory for retail investors lies in taking multiple defensive measures to transform the risk of liquidation from a "certain event" into a "cost event," until they can safely exit the market.
danny
How to prevent a repeat of the 2011 stampede in the stock market? Circuit breaker mechanism construction and algorithm design under low liquidity conditions.
This paper proposes a circuit breaker mechanism algorithm based on composite quantitative indicators, using price deviation, order depth, and large-scale liquidation exposure as triggering reference conditions.
danny
Risk Management Strategies from the Exchange's Perspective and the Trader's Tactics of Snatching Food from the Mouth
This article attempts to speculate on how exchanges balance market activity and system solvency from a "first-person" perspective of risk control.
danny
Leverage routines may be a way to survive bugs: Multi-perspective analysis of over-collateralized lending
DeFi dark pool game: When the lending agreement becomes the ultimate weapon for "bugs".
danny
From leverage mechanisms to the killing caused by the absence of liquidity, the causes and culprits of the 1011 liquidity vacuum
Today we will speculate what happened on October 11 from the perspective of the "leverage and liquidation" mechanism?
danny
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