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Yearly Archives: 2026

Microstructure interne du ratio ETH/BTC

ETH/BTC est le prix relatif de deux systèmes distribués en concurrence. Ses déterminants principaux sont : Prime de contrat intelligent : capitalisation sur l’écosystème DeFi et les dApps. Concurrence des "ETH Killers" : Solana, Avalanche, Sui, Aptos, etc., qui érodent la part de marché d’Ethereum. Mécanisme de destruction EIP‑1559 et frais de gaz : l’activité réseau alimente l’accumulation…

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Construction of the Steelldy CCQI Index and Characterization of Carbon Credit Titles (TCC)

CCQI index and characterization of TCMs: Tracking Tokenization of RWAs and Carbon Credits 1.1 Methodology for the STEELLDY CCQI (Climate Credit Quality Index) 1.1.1 Definition and Objectives of the Index: Carbon Credit Quality Benchmark for the Voluntary Market The Climate Credit Quality Index (CCQI), developed by STEELLDY, is a proprietary benchmark for the quality of…

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Core Carbon Principles (CCP) and Quality Premium

The Core Carbon Principles (CCP), established by the Integrity Council for the Voluntary Carbon Market (ICVCM), constitute the most stringent quality benchmark in the carbon market. CCP-qualified credits must satisfy three fundamental criteria: additionality (the emission reductions would not have occurred without the financial incentive of the carbon credit), permanence (the reductions are irreversible over…

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Tokenization of carbon assets: blockchain protocols, on-chain traceability, and fractionalization

The tokenization of carbon credits is based on a layered technological architecture that ensures interoperability between traditional carbon credit registries and blockchain infrastructures. The typical protocol involves: (i) the verification and custody of carbon credits in a traditional registry account; (ii) the issuance of representative tokens on a public or permissioned blockchain, with a 1:1…

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Interoperable Tokens (XRP/QNT/COTI), RWA Tokenization, and Gold-Backed Stablecoins

(1) XRP — Settlement Layer and Liquidity Bridge XRP serves as a neutral liquidity bridge between different fiat currencies and tokenized assets. The arrival of seven US spot XRP ETFs (approximately $1 billion in AUM) signals progressive institutionalization. Demand for XRP structurally stems from the volume of transactional flows, which creates continuous buying pressure…

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The Stagnant Reality: Annual Revisions Hide Deep US Labor Market Contraction

The US labor market appears stagnant. Job creation in April was 115,000, following 185,000 in March and a 156,000 loss in February. However, these figures should be viewed cautiously due to annual restatements that typically eliminate 0.8-1.2 million jobs, equivalent to about 100,000 in average monthly additions historically. This pattern often creates an illusion…

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