{"schemaVersion":"1.0","publisher":"Daleki Capital","description":"Educational research catalog. Interpretations are hypotheses, not established facts or investment instructions.","methodology":"https://dalekicapital.com/es/methodology","theses":[{"id":"stablecoins-infrastructure","title":{"es":"El próximo salto de cripto puede sentirse como un pago normal.","en":"Crypto’s next leap might feel like an ordinary payment."},"summary":{"es":"Stablecoins: entender la infraestructura antes de comprar la narrativa.","en":"Stablecoins: understand the infrastructure before buying the narrative."},"documentedFact":{"es":"Las stablecoins buscan mantener un valor de referencia. Sus mecanismos de respaldo y sus dependencias cambian según el diseño.","en":"Stablecoins aim to maintain a reference value. Backing mechanisms and dependencies vary by design."},"hypothesis":{"es":"Nuestra hipótesis: la experiencia de pago podría importar más al usuario que la red que la ejecuta. Eso no implica que cualquier token capture ese valor.","en":"Our hypothesis: payment experience could matter more to users than the underlying network. That does not mean every token captures that value."},"counterpoint":{"es":"La pérdida de paridad, restricciones de rescate o una mala experiencia de salida a dinero bancario pueden limitar la adopción.","en":"Depegging, redemption restrictions or a poor off-ramp experience could limit adoption."},"sources":[{"name":"ethereum.org · Stablecoins","url":"https://ethereum.org/en/stablecoins/"}],"updated":"2026-09-19","versions":[{"date":"2026-09-19","note":{"es":"Versión inicial. Hipótesis abierta; sin datos de adopción cuantificados.","en":"Initial version. Open hypothesis; no quantified adoption data."}}],"urls":{"es":"https://dalekicapital.com/es/explore/stablecoins-infrastructure","en":"https://dalekicapital.com/en/explore/stablecoins-infrastructure"}},{"id":"bitcoin-network","title":{"es":"Bitcoin: separa la red del precio.","en":"Bitcoin: separate the network from the price."},"summary":{"es":"Un marco para mirar más allá de la siguiente vela.","en":"A framework for looking beyond the next candle."},"documentedFact":{"es":"Bitcoin usa un registro compartido y firmas criptográficas. La minería participa en la confirmación de transacciones y en el consenso de la red.","en":"Bitcoin uses a shared ledger and cryptographic signatures. Mining participates in transaction confirmation and network consensus."},"hypothesis":{"es":"Proponemos analizar por separado funcionamiento, demanda y precio. Una mejora técnica no demuestra por sí sola que un activo esté barato.","en":"We propose analyzing operation, demand and price separately. A technical improvement alone does not establish that an asset is cheap."},"counterpoint":{"es":"La volatilidad y el riesgo de custodia pueden hacer inadecuada una exposición incluso cuando la tesis tecnológica resulte convincente.","en":"Volatility and custody risk can make an exposure unsuitable even when the technological thesis seems compelling."},"sources":[{"name":"Bitcoin.org · How Bitcoin works","url":"https://bitcoin.org/en/how-it-works"}],"updated":"2026-09-19","versions":[{"date":"2026-09-19","note":{"es":"Marco inicial. No incluye objetivo de precio.","en":"Initial framework. No price target."}}],"urls":{"es":"https://dalekicapital.com/es/explore/bitcoin-network","en":"https://dalekicapital.com/en/explore/bitcoin-network"}},{"id":"ethereum-scaling","title":{"es":"Más capacidad. Una nueva pregunta sobre el valor.","en":"More capacity. A new question about value."},"summary":{"es":"Qué observar cuando la actividad se mueve a las capas 2.","en":"What to watch as activity moves to layer 2 networks."},"documentedFact":{"es":"Las capas 2 procesan transacciones fuera de Ethereum principal y usan mecanismos que se apoyan en su seguridad. Los diseños y riesgos difieren.","en":"Layer 2 networks process transactions outside Ethereum mainnet and use mechanisms that rely on its security. Designs and risks differ."},"hypothesis":{"es":"Nuestra lectura: conviene separar crecimiento de aplicaciones, costes del usuario y captura de valor. Son preguntas relacionadas, pero distintas.","en":"Our reading: application growth, user costs and value capture should be examined separately. These are related but distinct questions."},"counterpoint":{"es":"Fragmentación de liquidez, puentes y componentes centralizados pueden añadir fricción. Menores comisiones no resuelven todos los riesgos.","en":"Liquidity fragmentation, bridges and centralized components can add friction. Lower fees do not resolve every risk."},"sources":[{"name":"ethereum.org · Layer 2","url":"https://ethereum.org/en/layer-2/"}],"updated":"2026-09-19","versions":[{"date":"2026-09-19","note":{"es":"Primera versión del marco de seguimiento.","en":"First version of the monitoring framework."}}],"urls":{"es":"https://dalekicapital.com/es/explore/ethereum-scaling","en":"https://dalekicapital.com/en/explore/ethereum-scaling"}},{"id":"defi-risk","title":{"es":"Antes del rendimiento, entiende de dónde sale.","en":"Before the yield, understand where it comes from."},"summary":{"es":"Una pregunta sencilla que cambia cómo lees DeFi.","en":"A simple question that changes how you read DeFi."},"documentedFact":{"es":"DeFi utiliza aplicaciones y contratos inteligentes para ofrecer servicios financieros. La interacción con software no elimina el riesgo financiero ni técnico.","en":"DeFi uses applications and smart contracts to provide financial services. Interacting with software does not eliminate financial or technical risk."},"hypothesis":{"es":"Nuestro criterio: entender la fuente de ingresos antes de comparar porcentajes. Incentivos temporales y demanda orgánica requieren análisis diferentes.","en":"Our framework: understand revenue sources before comparing percentages. Temporary incentives and organic demand require different analyses."},"counterpoint":{"es":"Un protocolo transparente puede seguir teniendo errores, problemas de liquidez o dependencias de precios externos.","en":"A transparent protocol can still have bugs, liquidity issues or dependencies on external prices."},"sources":[{"name":"ethereum.org · DeFi","url":"https://ethereum.org/en/defi/"}],"updated":"2026-09-19","versions":[{"date":"2026-09-19","note":{"es":"Marco inicial de preguntas; no califica protocolos concretos.","en":"Initial question framework; no ratings of individual protocols."}}],"urls":{"es":"https://dalekicapital.com/es/explore/defi-risk","en":"https://dalekicapital.com/en/explore/defi-risk"}}],"lessons":[{"id":"start-with-questions","title":{"es":"Aprende a separar hechos de opiniones.","en":"Learn to separate facts from opinions."},"source":{"name":"Daleki Capital · Metodología editorial","url":"/methodology"},"urls":{"es":"https://dalekicapital.com/es/learn/start-with-questions","en":"https://dalekicapital.com/en/learn/start-with-questions"}},{"id":"wallets-and-security","title":{"es":"Tus claves, tus responsabilidades.","en":"Your keys, your responsibilities."},"source":{"name":"ethereum.org · Security","url":"https://ethereum.org/en/security/"},"urls":{"es":"https://dalekicapital.com/es/learn/wallets-and-security","en":"https://dalekicapital.com/en/learn/wallets-and-security"}},{"id":"build-your-thesis","title":{"es":"Construye una tesis que pueda cambiar.","en":"Build a thesis that can change."},"source":{"name":"Daleki Capital · Metodología editorial","url":"/methodology"},"urls":{"es":"https://dalekicapital.com/es/learn/build-your-thesis","en":"https://dalekicapital.com/en/learn/build-your-thesis"}}]}