A Return To Fundamentals w/ Dean Eigenmann

Dean Eigenman lays out Markets.inc’s active, concentrated fund thesis: back stablecoin-driven on-chain finance, durable-revenue protocols, and activist founder support.

Key Takeaways

Markets.inc is an active, concentrated, activist fund raising outside capital to force protocol improvements and back builders, not passive venture allocations.
Stablecoins are foundational—enable on-chain trade finance, instant global liquidity, and new money-market products; invest in infrastructure and businesses using stablecoins, not the coins alone.
Prefer protocols with durable, non-emission revenue and clear product moats; avoid growth driven by token emissions, airdrops, or buybacks that create fragile, unsustainable demand.
Invest via hands-on engagement: governance help, tokenomics redesign, and founder support; target valuation disconnects where liquid tokens trade below fundamental enterprise value.
Regulatory uncertainty is the primary barrier—legal work dominates stablecoin launches; clarity could make tokens behave like equity but also change property-right dynamics.
Market structure and behavior complicate trading: few marginal buyers, meme-driven pumps, prediction-market insider risks, and shorting/liquidity execution challenges.

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