Forking Explained

by Henrik Andersson July 13, 2021

Introduction to Forks Similarly to most successful software products, crypto assets require iterations to the code to: Fix issues and bugs in code Add new functionality Increase performance In software, we see this done via downloadable software updates. In the open-source world of crypto, this is done via a process called ‘Forking’. As ‘Layer One’ […]

DeFi vs. Fintech

by Henrik Andersson September 15, 2020

Fintech is using technology to improve financial services. We have seen the rise of challenger banks like Revolut, payment processing companies like Square and Stripe, post purchase payment companies like AfterPay and Klarna, Robo-advisors and the list goes on. In this article we contrast Fintech with DeFi, or Decentralised Finance. DeFi is financial infrastructure built […]

On Crypto Correlations and DeFi Breaking

by Henrik Andersson June 23, 2020

Sometimes we hear that crypto assets are highly correlated and therefore asset selection has little impact. We couldn’t agree less. While correlations might be high for hourly or weekly time frames, if you’re an investor over weeks, months or years — the assets you have exposure to will matter enormously. Let’s look at the data. On Feb […]

Investment Highlight: Ren Project

by Henrik Andersson June 9, 2020

The RenVM recently went live on mainnet, providing access to inter-blockchain liquidity for all decentralized applications. Bringing BTC, BCH and ZEC to Ethereum. Ren Project is bringing Bitcoin to Ethereum. This week, I interview Ren Project’s CTO Loong Wang. In the interview we cover: The history of Ren Project and how Loong Wang initially got […]

Crypto Asset Valuation Revisited

by Henrik Andersson April 28, 2020

Excitingly, valuation of crypto assets are starting to look more and more like traditional cash flow valuation, especially with the rise of what we call Work Tokens. This is a follow-on to our earlier piece A New Crypto Valuation Framework We find that most crypto assets falls in one of several of the below categories. […]

Macro Update

by Henrik Andersson March 17, 2020

In February we wrote about how the Other Locations graph form the Johns Hopkins University dashboard is the most consequential graph in the world. Unfortunately it still is growing exponentially. COVID-19 cases outside China. The consequence of the lockdowns following the spread of the virus has lead central banks around the world to take unprecedented […]

The Race for Decentralisation

by Henrik Andersson March 10, 2020

There is currently a race for decentralisation going on in the crypto industry. The reasons are multifold, but at the core is the key value proposition of blockchains: the ability for them to be trustless, permissionless and censorship resistant ultimately hinges on decentralisation. More specifically, let’s look at decentralisation for two pressing reasons: security and […]

Activist Investing in Crypto

by Henrik Andersson February 18, 2020

Happy Birthday, Gordon Gekko One of our predictions for 2020 is the rise of the DAO. A DAO or Decentralised Autonomous Organisation is a way to organise people in a decentralised system like Ethereum by using tokens to vote. If we want to build decentralised systems, backing them with a DAO instead of a corporate […]

Investment Highlight: Synthetix

by Henrik Andersson November 19, 2019

The Open Financial System also called Decentralised Finance (DeFi) is a major focus for us at Apollo Capital and core to our Investment Thesis. DeFi is about building permissionless access to financial assets and financial contracts to anyone in world. The Synthetix platform is tackling the former. They are building a platform for any kind […]

Rewriting the Protocol of Society

by Henrik Andersson October 22, 2019

Front page of Australian newspapers October 21, 2019 In Computer Science a protocol is a specification of the rules of a communication system — it’s a foundational standard that we can lean on and build more complex applications on top of. In Western democracies, the fundamental rights, or put another way, the protocol of a society is […]