Given our unique position in this emerging industry, particularly with the three distinct business lines (Research, Consulting, and Ventures), our team places the highest level of importance on going above the required level of disclosure in order to maintain full transparency for our clients. In addition to disclosures attached to every report or engagement, we have put together this Transparency Board so anyone can quickly see which projects our team has worked with in a consulting or investment capacity.

In accordance with our transparency initiative, we’ll continue to update our consulting and investment relationships here. While we will update this page at least once every month, our members will receive any emails if we ever engage with a project from a consulting or investment perspective which we have previously published research on.


The Research Team may own digital assets represented in its reports, in which case clear disclosures will be made in order to ensure full transparency with our clients. In addition, no analyst may trade a token mentioned within a report 3 days prior to its publication without clearly disclosing the activity in the preface of the report. No analyst may sell a token mentioned in a report in the 3 days following its publication. For full token disclosures by team member, please contact Delphi Digital at These reports belong to Delphi Digital, and represent the opinions of the Research Team.

Delphi Digital does not receive compensation from the companies, entities, or protocols in relation to content published as part of its Research subscription product. The only fees Delphi Research earns is through paying subscribers. Compensation is not received on any basis contingent upon communicating a positive opinion in Delphi Digital’s reports, and we strive for strict objectivity at all times.


Below, we’ve listed out any projects with live tokens which we have consulted for. Additionally, we will continue to notify our clients of any situations where we have existing coverage of a project and are considering engaging them on a consulting basis.

*The token we designed for Axie Infinity is not live yet, but we have listed them here since they have other tradable tokens.

**To date, Synthetix is the only project our team engaged on a consulting basis that has also been previously covered in one of our in-depth research reports. That being said, we published our research report on SNX in August 2019 and did not enter into a consulting agreement with their team until February 2020. We also reached out to all members who received that research report before starting the consulting relationship.



Given the recency of our launch, we are still working on a full Ventures page where we will list our key investment themes, philosophy, and more.

In the meantime, we wanted to use this page to keep our clients and the community updated with Delphi Ventures’ portfolio. Below are the investments we currently have exposure to. We are a long-term oriented fund and intend to hold these positions for the foreseeable future; day trading isn’t our forte.

*DXdao is currently a small position in our portfolio that serves as an opportunity for our team to learn, experiment, and interact with a live decentralized autonomous organization.

**Delphi did not take part in PowerPool’s Alpha or Beta rounds.

Investors & Closing Thoughts

Delphi Digital does not have any outside investors and has been fully bootstrapped by its founders. Delphi Ventures is primarily internal capital.

In addition to our Transparency Board, going forward we will be adding a page in the front of our reports clearly disclosing any potential conflicts of interest. Anyone at any time can reach out to our team to learn more about our policies and any positions we hold.