Delphi Digital is an independent research and consulting boutique specializing in the rapidly evolving digital asset market. Digital assets and decentralized networks have the potential to redefine the relationship between innovators, investors, and users in unprecedented ways. This paradigm shift will usher in a new wave of value creation, but with these opportunities comes a whole host of unique risks as well. We recognize a one-size-fits-all approach may be inadequate to comprehensively assess the nuances present in this ever-changing space. As a result, we employ a dynamic, multi-disciplinary approach that combines traditional valuation methods and economic principles with concepts specific to decentralized systems. We emphasize project development, data analysis, and interviewing key personnel. Our team is determined to formulate and present an objective opinion actionable by our clients.