K3Capital’s Substack

Fueling the InfraFi Market

The boom of Bitcoin led to a massive debt market, with somewhere between $20-50 billion used to finance Bitcoin-related infrastructure.

Aug 19 • 

K3 Capital

Onboarding Wall Street Veterans On-Chain

Tokenized Stocks & Ondo Global Markets

Aug 13 • 

Rc

1

July 2025

2025 First Half Recap

The first half of 2025 has been an incredible chapter for us.

Jul 29 • 

K3 Capital

3

June 2025

Lista DAO — The BNB Chain Super App (PART II)

Staking, borrowing and lending under one roof

Jun 4 • 

K3 Capital

May 2025

Lista DAO — The BNB Chain Super App (PART I)

Staking, borrowing and lending under one roof

May 31 • 

Rc

Aegis: Bitcoin-Backed Delta-Neutral Stablecoin Without Centralized Counterparty Exposure

Stablecoins have emerged as one of the most crucial pillars of DeFi, forming the backbone of liquidity for trading, payments and yield-bearing products…

May 14 • 

K3Capital

2

April 2025

Gearbox Protocol: K3 Capital instance on the DeFi Credit Layer

Today, countless DeFi protocols are being built on different L1s and L2s, offering permissionless, decentralized, and more secure infrastructure.

Apr 11 • 

K3Capital

Euler Finance: Protocol Design and K3 Blue Chip on Avalanche

In September 2024, Euler Finance launched v2, establishing itself as the credit layer for on-chain finance.

Apr 9 • 

K3Capital

February 2025

sBOLD: Turning a Decentralized CDP Stablecoin into a Yield-Bearing Asset

In our previous blog post, we outlined the architecture of Liquity V2’s Collateralized Debt Position stablecoin, BOLD, highlighting its distinct…

Feb 11 • 

K3Capital

Liquity V2: A Comprehensive Guide to Its Architecture

In 2021, Liquity disrupted the DeFi landscape by introducing interest-free borrowing against ETH, reaching a peak of over $4.5 billion in TVL and over…

Feb 4 • 

K3Capital

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