Theia Blockchain

Customer profile

Theia Blockchain manages a fundamentals-driven crypto fund with a focus on liquid strategies.

Challenge

The team had found it difficult to access standardized and accurate onchain data programmatically.

Solution

Terminal API.

Results

Theia Blockchain leverages the Terminal API to power the fund’s internal underwriting engine.

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Since fundamental data in crypto is streamed in real-time, the team at Theia Blockchain saw an opportunity to build a new kind of underwriting engine, which combines both technical and fundamental factors, to drive and improve the fund’s deal sourcing, due diligence, and portfolio monitoring capabilities.

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However, for the fundamental factors, the team had struggled to find a reliable source that would provide them with access to standardized and accurate onchain data in a programmatic way. This changed when the team discovered the Terminal API:

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"Even though the crypto industry is open source, and most of the information is publicly available on the blockchain, it can still be a lot of work to access accurate and actionable onchain data. We’ve found that Token Terminal consistently puts out high-quality onchain data, with everything clearly documented. They’ve really changed the way we think about onchain data internally at Theia, since we don't need to build our data pipelines from scratch anymore."

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The partnership with Token Terminal does not end with the core data product. Subscribers to the Token Terminal API get to work together with the research team by suggesting new project listings, metrics, and features and sharing feedback on the existing feature and data set.

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"We believe that Token Terminal is an essential input to any operation that builds upon onchain fundamentals. The team ships fast and is highly responsive and easy to work with. Working with Token Terminal has made us more productive, as it has allowed us to focus our time on investing, instead of resource-intensive data engineering."

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As we look into the future, it’s possible to see how also Theia’s portfolio projects could benefit from working with Token Terminal:

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"We really like the mission of Token Terminal, which is to create the accounting and disclosure standards for the crypto market. We can see a future where crypto projects reference their Token Terminal dashboard for block-by-block governance and financial disclosures."

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John McNiff & Felipe Montealegre, Partners at Theia Blockchain