Pixeld Crypto · Research dispatch
Read the rules
beneath the trade.
Independent notes on Bitcoin, Ethereum, Litecoin and the open networks changing how value moves.
Read the current ledgerThe research ledger
Notes for people who want to understand the rails, not chase the candle.
Crypto Bridges Explained: Why Moving Tokens Adds Risk
Learn what blockchain bridges move, how wrapped assets differ from native tokens, and which dependencies remain after a transfer.
Liquid Staking Explained: Where the Yield Comes From and What Can Go Wrong
Understand liquid staking tokens, how rewards reach holders, and why liquidity, validator performance, and smart contracts all matter.
MEV and Sandwich Attacks: The Hidden Cost of a Token Swap
Understand transaction ordering, sandwich attacks, and the difference between a swap quote, slippage tolerance, and execution.
Proof of Reserves Explained: How to Verify Your Exchange Balance
Learn what a proof-of-reserves snapshot checks, how balance inclusion works, and why it is different from a financial statement audit.
Tokenized Real-World Assets: What Do You Actually Own?
A practical guide to tokenized assets: distinguish the on-chain token from its underlying property, fund interest, and redemption rights.
Stablecoins Are Becoming Payment Rails, Not Just Trading Cash
Stablecoins increasingly act like digital settlement infrastructure, changing how crypto liquidity, payments, and treasury workflows connect.