SERIES · THE DIVE
THE DIVE
One project per issue, torn down on-chain. Free issues mirror the X series; deep reports extend them with the full model and risk work.
All issues
13 published-
THE DIVE: PUMP
pump.fun's launchpad token, its buyback burns, unlocks and open float question.
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THE DIVE: PONS
Pons is a Robinhood Chain launchpad; 32.0% of its supply is already burned.
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THE DIVE: ENA
Synthetic dollar protocol; approved ENA buybacks stay gated until USDe supply clears $7.5B.
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THE DIVE: DRV
Derive's onchain options desk, a fully minted 1.5B supply, weekly buybacks.
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THE DIVE: WOOD
Non-custodial vaults where AI agents run pooled capital, still on testnet.
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THE DIVE: SHROOM
SHROOM is a Robinhood Chain liquidity network pairing stock tokens through one asset.
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THE DIVE: PROLOGUE
Fables pre-TGE token, a floating claim on a redemption contract not yet deployed.
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THE DIVE: PARE
Dividend stripping for tokenized stocks on Robinhood Chain, with a fee-to-burn loop.
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THE DIVE: ORBIO
Robinhood Chain relay and marketplace for discounted LLM inference credits.
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THE DIVE: NET
Reserve-backed Olympus-lineage share token trading at a premium to its own backing.
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THE DIVE: LIT
LIT is Lighter's perp DEX token, with fee-funded buybacks and a 2026 unlock cliff.
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THE DIVE: INDEX
Fee-to-equity flywheel paying tokenized-stock distributions to INDEX holders on a short cycle.
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THE DIVE: HYPE
Perp DEX on its own L1 where trading fees convert to HYPE and burn; 41% of supply still in the emissions reserve.
Go deeper
Deep reports take one issue and extend it: full tokenomics, team, revenue and risks.