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04 ENTRIES 2026
Deep Dive: Vitalik's Paper on Index-Tracking Assets Backed by Options Instead of Debt
A from-scratch walkthrough of Vitalik's June 2026 proposal to build index-tracking assets (synthetic USD, CPI, gold) without debt, without liquidations, without a real-time oracle. With worked examples and payoff diagrams.
ReadLending Optimizers - Reimagined with Euler
A layer-by-layer derivation of a spread-compression Optimiser on Euler V2. The Morpho Optimiser answered each layer with custom code because Aave's monolithic pool gave it nowhere else to put matched dollars; Euler V2's primitives let you answer the same layers by composing vaults instead. Two reasonable points in the design space, made possible by different substrates.
ReadYou Could Have Invented Morpho Optimizer
A layer-by-layer derivation of Morpho-Compound and Morpho-AaveV2.
ReadWelcome to Heat Research
What this site is, who we are, and what we plan to publish.
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