04The Network · Research
Institutional-grade research.
Letters from the desk. Plainly written, ruthlessly edited, never paywalled.
FEATURED · Monthly
The dollar is a strategy.
Stablecoin is the cleanest implementation. And the simplest buy for a 5-year thesis.
Robin Research Desk Dec 30, 1969
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DECEMBER 1969VOL.-23454
The dollar is a strategy.
Stablecoin is the cleanest implementation. And the simplest buy for a 5-year thesis.
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02
Why halving still matters
Even as institutional flows dwarf retail, the four-year clock keeps setting the cycle's tempo.
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03
RWA tokenisation, three regimes
Treasuries first, real estate next, private credit last — and why the order matters for liquidity.
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04
Liquidity pulse · May 2026
Funding rates, ETF flows and the cross-currency basis tell one story this month.
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05
Two more cuts and a regime change
What a softer DXY does to the next halving cycle, charted four ways.
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06
Coin Days Destroyed, plainly
A clean explainer of one of the oldest on-chain signals, with a fresh implementation.