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Will Web3 ever reach mass adoption ?
Where do we stand on Web3 mass adoption? In short: we have a trillion-dollar market cap but only a few million real daily active users and those users are split across dozens of competing chains. According to Dappradar in Q3 2025, https://dappradar.com/blog/state-of-the-dapp-industry-q3-2025 , which is down 22.4% from the previous quarter. This is roughly in line with the actual statistics from Token Terminal with 21M users that are active on the top 10 blockchains. There
David An
Nov 264 min read


How stablecoins are fueling a global US debt generalization
While US treasury bills are bought ~30% by foreign investors, afaik there is no public data what the geographic sources of onramp to US$ stablecoins are. My guess is its reverse: ~70% of stablecoins in circulation if not more originate from fiat currencies outside of the US. Esp, given the dominance of USDT which is strong in Asia, Latam, MEA, this kind of makes sense. If you think this through: this means that stablecoins (with asymptotic 700m eurostablecoins) is primarily a
David An
Nov 12 min read


Dracoon Ventures invests in Exotic Vaults in seed round
A new decentralized exchange is aiming to make real-world assets easy to buy, sell, and trade anywhere in the world. August 12, 2025 –...
David An
Aug 122 min read


Treasury Management in Web3
I have posted this content on March 29th, 2023 here already but I thought I’d share it here again Disclaimer, these are personal opinions...
David An
Jul 295 min read


Why Memory Still Matters in the Age of AI
The paper “Why Memory Still Matters in the Age of AI” tells us that the real risk isn’t AI. It’s unconscientious use of AI Highlights: 1....
David An
Jul 291 min read


Gambling bankroll formula in crypto
I am not a gambler so I only recently got exposed to Kelly Criterion in gambling. Lets apply to crypto. First thing I asked myself is,...
David An
Jul 291 min read


BTC as a hedge against US Debt
BTC a hedge against US Debt ? Ok, you do not wake up in the morning with an idea of “Oh the US debt is rising incredibly, let’s buy some...
David An
Jul 292 min read
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