·Deep DivesMarkets
The Broken Link between Protocol Revenues and Token Performance
Since the beginning of the year, crypto protocols have cumulatively made $7.42 billion in revenue.
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Digital Asset Research & Strategy
PowerThroughPerspective
Digital asset research and advisory for the protocols and enterprises shaping crypto's next chapter.
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Research Meets Execution
Castle 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. Our destination: to be the research authority and partner of choice for the protocols shaping crypto's next chapter.
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Flagship Reports
Flagship Research
March 2026The Evolution of Commodities
State of Commodities and a Quantitative Analysis of the Growth of these Markets Onchain
71 pages · free report→
May 2026The Vaultification of Finance
The evolution of Vaults as the infrastructure layer of institutional finance onchain
76 pages · free report→
June 2026The Full-Stack Privacy Ecosystem
Privacy as Infrastructure for User Protection and Institutional Adoption
64 pages · free report→
June 2026Real-World Assets: Bringing TradFi Onchain
Mapping the growth of RWAs and institutional adoption — the $29B tokenised market, who is issuing, and where the assets actually get used
85 pages · free report→
July 2026The Renaissance of Onchain Options
Mapping the expansion of options as a trading instrument and the volatility that prices them — co-authored with BlockScholes
95 pages · free report→
July 2026The Verticalisation Thesis: How Blockchain Revenue Models Are Evolving
Covering the expansion of revenue streams by blockchains
53 pages · free report→
Latest Research
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·PrivacyDeep Dives
The New Security Bar for Onchain Finance
Private Today, Durable Tomorrow
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·Deep DivesTrading
Prediction markets as option-like instruments
This article is an excerpt from our research on The Renaissance of Onchain Options, mapping the expansion of options (and prediction markets) as a trading instrument and the volatility that prices them, published in collaboration with BlockScholes.
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·DeFiMarkets
Putting RWAs to work in DeFi
The growth of RWAs has led to over $32 billion of assets flowing onchain.
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