Delphi Labs

Our team provides strategic, technical and token economic consulting to a wide range of high-profile clients. With an experienced team of analysts, developers and economists, we’re fortunate to have worked with a variety of prominent early stage projects to audit, optimize and design bespoke token economic models. Financial institutions and enterprise clients also utilize our consulting services to understand and leverage decentralized networks as they develop their own internal digital asset strategies.

What We've Helped With

Our Work

Our team has extensive experience working with a wide array of token-based projects to engineer rational and balanced network economies that promote organic ecosystem growth. This includes early stage projects aiming to integrate a token as well fully functioning token economies looking to fine tune their structure.

Our deep understanding of crypto networks allows us to offer a variety of different services for projects in the space:

Token Design
Economic Audits
Risk Management
Strategy Audits
Economic Dashboards
Development

Token Design

We engaged with Axie Infinity to integrate a token into its existing game. Our goal was to properly understand the current and future in game mechanics so they can be intertwined with the token economics in a productive way.

With all that in mind, we designed a 3-stage economic and adoption plan. As part of the deliverable, we created a full deck and dashboard that was ready to be presented to prospective investors and the general public to help explain the client’s vision.

Risk Management

Synthetix commissioned our team to help them build out an asset listing framework. Our analysis was specifically structured to accommodate and evolve with their technical capabilities.

The initial focus was on ensuring that existing and future assets on the platforms are tamper resistant. We built out models that digested orderbook depth across various trading pairs and compared them to synthetic assets totals to establish appropriate limits.

Economic Audit

Our team is conducting an extensive dive into Aave’s proposed token economics to assess the viability of the design. We plan on stress testing the model’s key assumptions to understand the protocol’s risks, while also optimizing incentive mechanics for adoption and long term sustainability.

As part of the engagement, we will continually monitor Aave’s network with the goal of minimizing risk and maximizing growth. The monitoring process will allow us to continually assess progress and proactively recommend solutions when necessary.

Strategy Audit

We engaged with Nervos to help research and assess the viability of the project’s localization strategy in China and to better understand the unique dynamics around their CKB token.

During the process, we created a dashboard to help assess the demand for CKB across demand for state, for users, and other stakeholders such as their DAO. A key deliverable was an audit of their go-to market strategy. Our team worked hand-in-hand with the Nervos team across their token economics, the game theory involved within their network, and more.

Economic Dashboard

We built out a model for for SKALE which helped estimate pricing for renting small, medium, and large chains while accounting for factors like network demand and complexity. A key focus was on costs for renting, and the supply of tokens locked by users and nodes. We carefully balanced assumptions so they were viable on an income perspective for validators while ensuring the costs made sense for the protocols renting space.

Our findings helped influence a few key changes to the protocol, such as the introduction of a dynamic pricing structure.

Why Choose Us

We employ a data-driven, hands-on approach to redesigning, structuring, and optimizing token ecosystems tailored to each client’s long-term mission. Our deep understanding of token economics has allowed us the privilege to work with many of the industry’s most prominent projects across Europe, Asia and the US. In addition, a wide array of clientele including hedge funds, family offices, high-net-worth individuals, and technology VCs leverage our analyst team to conduct rigorous, in-depth bespoke research on prospective opportunities within the digital asset market.

Token Engineering

Economic Simulations

Institutional Advisory

What Our Clients Say

The Delphi team's passion for the space is infectious. They've been pioneers in applying and adapting rigorous financial thinking to this burgeoning space while maintaining the highest professional standards one would expect from a renowned research firm.

Mark W. Yusko

Morgan Creek Capital Management

We’ve worked closely with Delphi on a number of aspects of the Synthetix Protocol. They are one of the few firms with a deep understanding of both TradFi and DeFi, allowing them to bridge this gap as the transition towards a more open financial system accelerates.

Kain Warwick

Synthetix

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Trusted By Leading Institutions

Our reputation for in-depth, institutional-grade analysis has allowed us to act as an outsourced investment team, generating insights for many of the top funds through our bespoke research solutions. Our services range from in-depth due diligence on early stage opportunities to deep dive valuation analysis on specific projects or sectors tailored to the needs of each individual client.