writing

Tokenized stocks have existed for over five years. They mostly don't work. The structural fixes — primary issuance, real institutional liquidity, dividend pass-through — and the architecture behind Solistic Finance.

Dating apps are markets in attention, but they've been designed as if the spread doesn't exist. Adverse selection, toxic flow, and the case for an AI matchmaker — Aria — as a market maker.

On-chain options remain a rounding error in crypto derivatives volume. The reason isn't lack of demand — it's that AMM designs leak capital to informed flow during oracle lag. A look at LVR, endogenous implied volatility, and what to do about it.