Rushi Chavan

Independent Research Analyst
RWA • Stablecoin • DeFi • Tokenomics • DeFAI

Researching the evolution of digital asset markets, on-chain capital formation, and the infrastructure powering the next financial system.

> FEATURED_RESEARCH // TERMINAL_READ
MARKET_STRUCTURE

From AMMs to Intents

An analysis of value extraction, intent-centric architectures, and settlement layer economics.

  • From AMMs to Intents
  • Orderflow Ownership
  • Solver Economics
READ_PDF
STABLECOINS

The Monetary Authority Problem

Examining stablecoin monetary design, collateral constraints, and peg stability mechanisms.

  • Collateral Constraints
  • Peg Stability Heuristics
  • Capital Efficiency
READ_PDF
RWA

From Overcollateralized Lending to Underwritten Credit

The migration of private credit and underwritten lending models to distributed ledgers.

  • Credit Risk Models
  • On-Chain Underwriting
  • Capital Allocation
READ_PDF
> ANALYTICS_DASHBOARDS
RWA

RWA Tokenization Pipeline Tracker

Research Question: What is the real-time velocity, redemption rate, and backing distribution of tokenized Treasuries and private credit?

Key Findings: Tokenized credit markets are scaling rapidly, with yields increasingly competing with traditional off-chain funds.

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DEFI

Protocol Revenue Quality Scorecard

Research Question: How does protocol fee generation translate into high-quality, sustainable revenue versus inflationary token emission?

Key Findings: Top DeFi protocols exhibit diverging revenue quality profiles, with real cash flows consolidating to strong execution moats.

VIEW_DASHBOARD
MARKET_STRUCTURE

Token Unlock Overhang Risk Monitor

Research Question: What is the structural supply overhang risk from venture capital locks and upcoming token unlock schedules?

Key Findings: Concentrated unlock events introduce predictable sell-side pressure that strongly correlates with post-unlock price depreciation.

VIEW_DASHBOARD
> LATEST_PUBLICATIONS
ARTICLE

Why BIP-110 Threatens Bitcoin's Permissionless Equilibrium

BIP-110 risks introducing miner censorship vectors and altering Bitcoin's fundamental game theory.

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ARTICLE

Why Know Your Agent (KYA) Will Outgrow Legacy KYC Infrastructure

AI agents require cryptographic identity proofs that traditional human KYC models cannot support.

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ARTICLE

From Labor Capitalism to Intelligence Capitalism

Capital allocation is shifting from human labor to autonomous AI agents acting as economic actors.

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> ENGAGEMENTS
  • Investment Research
  • Market Structure Analysis
  • Protocol Analysis
  • Tokenomics Reviews
  • On-Chain Analytics
  • Strategic Advisory
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