One independent report per protocol, written once and read across your firm. An annual subscription gives your team the full Hedgen library plus quarterly updates, on the DeFi and RWA protocols allocators actually hold.
Independent by policy · Per firm, never per seat · Written by a practitioner
Your firm has exposure to RWA or on-chain credit, or a thesis you want to act on. You read the whitepaper, check the dashboards, talk to the founders, but you have no in-house team to technically diligence the protocol.
And who analyzes the protocol as a business?
Revenue sustainability. Tokenomics under stress. Governance concentration risk. Competitive dynamics. Regulatory exposure. The kind of structured analysis that would be standard for any equity investment, but barely exists for DeFi protocols. And it's written by a practitioner active in crypto since 2016, not a TradFi analyst who discovered the space last cycle.
That's the gap Hedgen fills.
Where the protocol sits in its market. Who the real competitors are. What defensible advantages exist, and which ones are narratives.
How the protocol generates revenue. Whether the token economics hold under realistic conditions. Emission schedules, unlock impacts, incentive alignment.
Who runs the protocol. How decisions get made. Key-person dependencies. Decentralization reality vs. claims.
Which jurisdictions matter. Where the regulatory exposure sits. Structural constraints and assumptions. This is analytical risk mapping, not legal advice.
Two to three plausible scenarios with key variables identified. Trade-offs mapped. What would need to be true for each outcome. 90-day and 180-day considerations.
Illustrative profile: strong position, unproven economics
The library, on a drumbeat
Ondo
In production
Maple
Next
Ethena
Next
TBD
By demand
One license, the whole firm
Hedgen: per firm
One license. Every seat reads the same research.
Typical: per seat
Priced by head. Coverage rationed by budget.
Ondo Finance: Leading position, unproven economics. Ondo is the first report in the library. Its executive summary applies the full Hedgen framework to the largest tokenized US Treasuries protocol. Download it to see the depth and structure of the research your firm gets on subscription.
The full Ondo report is in production; subscribers receive it on release.
Executive summary
1Market positioning
2Tokenomics sustainability
3Team & governance
4Regulatory risk
5Scenario framing & risk matrix
We understand your context: your exposure or thesis, which protocols matter, and where your team lacks in-house technical DD. No pitch, just clarity on whether a subscription fits.
Choose an annual, per-firm license. The Founding rate, $9,000/year, locked for life, is open to the first ten firms, then pricing moves to standard.
Your whole firm gets every published report, new reports as they ship, and quarterly updates on the entire published stock from 2027.
Hedgen reports are independent analytical research. Independence is the point: no protocol we cover pays us, and we do no sell-side or advisory work for protocols. The research informs your team's evaluation; it doesn't replace independent judgment or professional advice.
A report isn't a one-time snapshot. From 2027, quarterly updates refresh every published report across the entire stock (governance votes, treasury moves, token unlocks, and regulatory developments), so your team never works from a stale view. This is what renewals buy.
Book an intro callBook a 30-minute intro call. We'll talk through your exposure, the protocols on your radar, and whether a firm-wide subscription fits. The Founding rate is capped at the first ten firms.
Book an intro callWeekly DeFi & RWA protocol and market analysis. No noise, just structured insights.