Power through perspective.
Independent digital asset research, media and advisory, built to institutional standards for crypto-native and traditional finance participants.
Read by teams across institutional finance, crypto-native trading, DeFi, RWAs and infrastructure.
Arbitrum
Starknet
Mantle
Ondo
Variational
OpenEdenCastle Labs is a research and advisory firm. We produce human-centric research and distribution campaigns for companies and advise them on how to navigate an ever-changing market environment.
We exist to bridge the gap between complex onchain innovation and the people who need to understand it.
What We Do
October 2026A comparative analysis of perp trading venues across design, GTM and microstructure
August 2026A report on the protocols building fixed-rate and fixed-maturity credit products
July 2026Covering the expansion of revenue streams by blockchains
July 2026Mapping the expansion of options as a trading instrument and the volatility that prices them
June 2026Mapping the Growth of RWAs and Institutional Adoption
June 2026Privacy as Infrastructure for User Protection and Institutional Adoption
This excerpt is from our research on Mapping the Perpetual Trading Ecosystem: A Comparative Analysis of Perp Trading Venues across Design, GTM and Microstructure, highlighting the perp ecosystem, including the key growth enablers, the architecture on which the protocols are built, and the GTM strate
Options are picking up again.
These days, it’s all about RWAs, with a race involving every protocol and ecosystem, rushing to list new assets and boasting about their market size or asset count.
RWA perp volume went from under $1 billion in October 2025 to over $120 billion in August. How Variational swaps compare with perps on funding and execution cost.
Strategic clarity, credible narratives, and distribution that reaches the people who matter.
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