Writing & Research

Articles

Selected writing on real-world asset tokenization, DeFi yield strategies, and AI-driven financial infrastructure.

The Three Pillars of AI Transformation

AI transformation is more than tool adoption or shipping features. The three pillars — offense, defense, and operations — and what a complete, effective, secure transformation actually requires.

AI Models Are the New Fiber

Chinese AI models now capture 46% of US enterprise token usage. Claude costs 178× more than DeepSeek. The model layer is becoming infrastructure — here's where the value actually goes.

RWA: A Technical Analysis of Tokenized Stock Implementation

How tokenized securities bridge traditional finance and DeFi — regulatory strategy, token economics, and technical implementation.

Yield-Bearing Stablecoins Explained: Where Does the Yield Come From, and What Are the Risks?

Five core yield models — Ethena, Usual, Ondo, Strata. The $11B market challenging traditional stablecoin issuers.

DeFi Yield Optimization Evolution: From Auto-Compounding to AI Agents

Four generations of DeFi yield strategies — from Yearn to Pendle to AI-driven optimization.

Also on Zhihu — additional articles and columns on blockchain, crypto, and RWA (may require login).