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Espresso Systems

6 pieces · Dec 2022 to Jul 2025

Sectors

L1/L25 Market structure3 Privacy2 AI1 Tooling1 ZK1

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Coverage per year

12022

12023

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32025

Start here · the strongest pieces on Espresso Systems

Market take22 Jul 2025Espresso's Kaito launchpad sale terms: $400M FDV with 1y cliff is unattractiveWelcomes the Kaito launchpad but criticizes Espresso's $4M sale at $400M FDV with a one-year cliff plus one-year linear vesting. Buyers would need a roughly $800M FDV after 12 months just to break even, so a full or large TGE unlock is recommended.Market take20 Jul 2025Expected pre-TGE launch sequence among Kaito leaderboard projectsForecasts a near-term wave of TGEs among Kaito leaderboard projects (Espresso, Theoriq, Bless, Mira, Allora, SatLayer) followed by Boundless, OpenLedger, Anoma, Succinct and others in the fall. Argues InfoFi may erode content quality but creates yapper opportunities.Market take21 Jul 2025Espresso and shared sequencing: Kaito launchpad hype versus modular token recordShared sequencing has been a tough narrative since few chains outsource ordering and block building, and modular infra token launches have often disappointed as VC cashouts. Still, being first on the Kaito launchpad plus >$63M raised could drive hype and a high initial FDV, as with Caldera's ERA.

Timeline · every piece, newest first

2025 3

22 Jul 2025Espresso's Kaito launchpad sale terms: $400M FDV with 1y cliff is unattractiveWelcomes the Kaito launchpad but criticizes Espresso's $4M sale at $400M FDV with a one-year cliff plus one-year linear vesting. Buyers would need a roughly $800M FDV after 12 months just to break even, so a full or large TGE unlock is recommended.Market takeMarket structureL1/L2

21 Jul 2025Espresso and shared sequencing: Kaito launchpad hype versus modular token recordShared sequencing has been a tough narrative since few chains outsource ordering and block building, and modular infra token launches have often disappointed as VC cashouts. Still, being first on the Kaito launchpad plus >$63M raised could drive hype and a high initial FDV, as with Caldera's ERA.Market takeL1/L2Market structure

20 Jul 2025Expected pre-TGE launch sequence among Kaito leaderboard projectsForecasts a near-term wave of TGEs among Kaito leaderboard projects (Espresso, Theoriq, Bless, Mira, Allora, SatLayer) followed by Boundless, OpenLedger, Anoma, Succinct and others in the fall. Argues InfoFi may erode content quality but creates yapper opportunities.Market takeMarket structureAI

2024 1

17 Jun 2024Ankr x Espresso: RaaS plus shared sequencing as a billion dollar narrativeArgues RaaS is the final abstraction layer over rollup SDKs and that Ankr's RPC track record plus Espresso shared sequencing integration positions it well. Lists the benefits of shared sequencers: liveness, censorship resistance, security, fast finality and atomic cross-chain composability.ThesisL1/L2Tooling

2023 1

10 Jan 2023CAPE by Espresso Systems: configurable privacy for tokens, now on ArbitrumCAPE is an Espresso Systems smart contract app for configurable privacy of digital assets. Users create or wrap ERC-20 tokens and define viewing policies over addresses, amounts and asset types. Now live on Arbitrum testnet.ExplainerPrivacyL1/L2

2022 1

27 Dec 2022ZK and modular stack watchlist: zkEVMs, zkVM, Aleo and EspressoSelection of projects under review: zkEVMs (Scroll, zkSync, StarkWare, Polygon Hermez, Kakarot), RISC Zero zkVM, Specular EVM-native optimistic rollup, Aleo private L1 and Espresso decentralized sequencers. States a modular bull stance.MapZKL1/L2Privacy

Often covered with

Kaito46 EigenLayer110 Polychain9 Celestia145 Electric Capital5 Caldera20 Theoriq18 Bless Network17

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