Markets, Manipulation & the Myth of Decentralisation with Jose Sanchez

Welcome to the Deco podcast, where we bring you stories from founders and investors in Web three. Before we get started, this is not a financial or legal advice. It's just a conversation about things we find interesting in Web three. Views expressed are our own personal opinions. Deco members or guests appearing on the show may have positions on assets they talk about. Welcome to the Deco Unfiltered. This is not a regular podcast episode. There is no structure. There is no script. It's just a raw conversation between two friends who have collaborated before. It'll be about crypto, about market

Saurav. Really good. What about you?

Talbot. Talbot. We just took this article live. We published on Substack. It's related to buybacks versus, like, dividend share in crypto, and we were just looking at, you know, like, different stages in which, like, different crypto projects are and what should they be doing with revenue. I mean, revenue and excess revenue. Right? I mean, only if there is excess, like, you will will you, like, try to distribute and think about what to do and so on? So, like, go read it. It's a nice read. I mean, we draw a lot from what happened in, like, traditional markets. Like, how did public companies sta

Yeah. Yeah. I think it's interesting that we're starting to see more and more of these discussions happening over the last two months. It kinda shows, like, a real shift or more fundamentals or at least fundamental based investing. And I think it's mainly happening because there is, like, this push from two angles. One, the sell side research providers that are maturing. Right? Like, you guys, Blockwords Research, and all the data providers like Dune, DefyLama, or Orkam. And then the other side is the buy side, which is becoming more and more professional and more institutionalized.

You wanna tell the difference between sell side and buy side before we move on?

So sell side is usually research shops that give, like, overview on on different industries from a very research driven perspective. And then the vice head is, like, the allocators in the space. Usually, in Charify, those would be the hedge funds. And then the sole side would be, like, either equity research and also, like, some investment bankers when they prepare an IPO for a specific business. Yeah.

Right. And, like, before we move on, like, what are you doing these days? Like, how will you spend your time at Spartan? What does a day look like for you? Yeah.

Right now, where the market is not as hot, it is mostly reading a lot of stuff, trying to look into, like, on chain data platforms. Like, if you so I've been, for example, learning a lot of SQL through Chargebee, and I've been spending my time, like, trying to do these deep dives on different protocols, like, trying to build new Dune dashboards that aren't available out there and see if, like, there's, like, a change in the dynamics on a specific fundamental so that of, like, different protocols inside a vertical. And, yeah, also, like, following all the saga that is happening with Hyper Liqui

crazy. Right? Just give a, like, short overview of, like, what has happened, and then we can talk about, like, what your thoughts are and so on.