Nick Carpinito
(0xMetaLight)
(0xMetaLight)Distributed infrastructure analyst covering economics, governance, and transparency.
About
Research Analyst @ Blockworks
Split time between research and building. Wrote reports and the weekly 0xResearch newsletter. Also wrote PRDs and shipped code for Blockworks products and internal tools.
Head of Research @ Mycelium Networks
A distributed infrastructure incubator and accelerator with a built-in testbed. Started as an intern, then Research Analyst, then Head of Research.
Head of Research @ Parameter Research
DePIN data, analysis and due diligence.
Mentor @ Outlier Ventures DePIN Accelerator
Mentor @ DePIN Surf Accelerator
Blockchain Enterprise Systems @ University of Arkansas
BSBA in Information Systems, concentration in Blockchain Enterprise Systems.
Writing
Reports, newsletters and posts
Pearl: Bitcoin for AI?
Pearl keeps Bitcoin's fixed supply but swaps useless hashes for the matrix math that runs AI, so one GPU could earn AI revenue and PEARL at once. Co-authored with Sam Schubert.
Black October
Worse before it gets better
On quantum risk
Your favorite chain is (probably not) going to get nuked
DAWN: Underwriting the Ramp
DAWN launched the USD.infra Vault on Solana on September 22: the vault lends against contracted infrastructure revenue and carries the strongest allocation-level disclosure in Collateralized Onchain Infrastructure Lending (COIL), with binary gates, a recomputable scoring rule, and a 30-day delay on parameter changes.
Useful is optional
The miners aren't doing AI
Project Finance Goes Onchain
DAWN targets overlooked infrastructure contracts
with Luke Leasure
USD.AI: The Loan Book Catches Up
Active loans have scaled from $8.02M at our February note and ~$61M at TGE to $272.4M in current principal at a blended 11.6% rate. We frame 12-month scenarios for USD.AI and CHIP calibrated to current fundamentals, with depositor net APY landing between 7.9% and 8.3% in every case.
World's Launch Theater
Trolling is the distribution strategy
Anatomy of a Helium Squeeze
Helium went vertical. We checked the oracles.
with Luke Leasure
1,000 Macs walk into a compute market
The DePIN playbook, minus the token
with Luke Leasure