Caladan’s cover photo
Caladan

Caladan

Technology, Information and Internet

Singapore, Singapore 15,482 followers

We bring rationality to strange and unruly markets

About us

Caladan brings rationality to strange and unruly markets. We explore the frontier of finance, seek out new opportunities, and make markets more efficient and honest wherever we go. We support exchanges, tokens, and institutional investors with on-exchange liquidity, DeFi expertise, treasury solutions, and investments. Since 2017 we've been a pioneer in crypto market-making, powering over $170B in annual transactions across 1000+ assets. We are actively hiring for engineers and strategists - http://caladan.xyz

Website
www.caladan.xyz
Industry
Technology, Information and Internet
Company size
51-200 employees
Headquarters
Singapore, Singapore
Type
Privately Held
Founded
2017
Specialties
Quantitative Trading, Algorithmic Trading, Fintech, Blockchain, and Software

Locations

Employees at Caladan

Updates

  • Missed out on Signal 2025? Watch (or re-live!) the exciting panel conversations we had on Youtube, where panelists had engaging discussions on real yield, real liquidity, and real frameworks. The market is institutional now, and we're ready for it View the playlist and see how you can get a free ticket for our upcoming Signal events in the comments ↓

  • The Information Asymmetry Crisis: Why Behavioral Data Is Replacing Social Sentiment in Web3 Web3 is facing a signal crisis. For years, the industry has relied on social sentiment, tracking mentions, engagement, and hype, to measure traction. But the gap between what people say online and what they actually do on-chain has never been wider. Our latest report, The Information Asymmetry Crisis, argues that the next evolution of market intelligence will come from behavioral data, and highlights Layer3 as the key infrastructure enabling it. Social metrics reward whoever spends the most on attention. Influencer campaigns and airdrop-for-tweets inflate visibility without genuine adoption. When sentiment can be bought, it stops reflecting conviction and starts distorting capital allocation. Behavioral data provides the antidote. Every on-chain action carries cost and intent, making it the clearest proof of belief. By studying what wallets do, not what users say, we can measure retention, risk appetite, and real traction. Layer3 has quietly built the behavioral layer for Web3. Over 167M verified on-chain actions across 45+ blockchains, turning complex tasks into structured quests that generate clean, verifiable data. The results: - 6.1× higher 30-day retention - 11.3× higher 120-day retention - 115 active days & 1,500+ tx per user on average With just 16 employees, Layer3 generates $16.5M annualized revenue—clear product-market fit. Its CUBE credential system (60M+ NFTs) makes behavior portable: open, queryable records of verified on-chain actions. Layer3’s Signal framework then measures how efficiently content converts into participation, identifying real momentum long before price follows. This shift has broad implications. Markets begin to price usage, projects compete on retention, and users build reputation through participation. As Greenfield Capital notes, behavioral aggregators like Layer3 are becoming the search engines of Web3. Behavioral data isn’t just analytics, it’s Layer 3 itself: the foundation where attention becomes verifiable and information asymmetry finally breaks. Read the full report in the comments below.

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  • Happening TODAY: We’re proud to share that Gian-Paul Caccia, Director of U.S. Institutional at Caladan, will be speaking at the Hedgeweek® Funds of Future Summit US 2025 on October 9 in New York. He will join the panel on “The Future of Digital Asset Custody – Overcoming Institutional Barriers”, covering: - How evolving U.S. regulations are shaping custody - Risk management, fraud prevention, and compliance (KYC/AML) - Blockchain identity verification and tokenized assets in custody technology - Comparing U.S.-based vs. offshore solutions We’re looking forward to the discussion and the role digital asset custody plays in enabling institutional adoption.

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  • Signal 2025 Recap: Institutional Alpha and On-Chain Liquidity At this year’s Signal, founders, investors, and fund managers gathered for a full day of discussion on what’s shaping the next market cycle. From Arthur Hayes’ macro outlook to panels featuring Coinbase, Dragonfly, and IOTA , the message was consistent, crypto’s evolution is accelerating toward institutional design and real market structure. Roundtables over lunch went deeper into compliance, stablecoin interoperability, and yield mechanics, highlighting how the lines between DeFi and TradFi are quickly disappearing. Full recap in the comments.

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  • The Caladan Weekly #18 | Fourteen Days to the Top? Why This Cycle’s Path to $27 Trillion Looks Different Key Summary: This analysis argues that October 22, 2025 (550 days after Bitcoin’s halving) will mark a critical test of whether $BTC has matured beyond its historical boom-bust cycle. Despite “only” gaining 86% since the 2024 halving, Bitcoin’s absolute $56,000 price increase, reduced volatility (46% vs 70%+), and growing institutional adoption indicate structural transformation toward a steadier, gold-like asset. If Bitcoin breaks the 550-day topping pattern, it confirms a shift to longer, more stable growth driven by ETF inflows, concentrated supply, and declining volatility, conditions that could propel it toward gold parity ($27T market cap, ~$680K/BTC) within 10–20 years. Subscribe to read the full report on this; link in the comments below. Written by Derek Lim, Head of Research at Caladan.

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  • View organization page for Caladan

    15,482 followers

    We’re proud to have IOTA as one of Caladan’s sponsors at Signal. We’re also doubly excited to feature Ko-Wei Tseng, Asia Ecosystem Lead at IOTA. Ko-Wei has been a driving force in Web3 communities since 2017. He co-founded the IOTA Chinese community in 2018 and has been running it ever since. Along the way, he dove deep into Ethereum DeFi during the 2020 DeFi summer, co-founded the Solana Chinese community (now Solar community) during Solana Summer 2021, and today is focused on building out the IOTA ecosystem in Asia. His journey across ecosystems brings valuable perspective on how communities scale, evolve, and sustain real adoption. We look forward to hearing his insights on the panel, “Stablecoins: Competition and Proliferation.” See everyone at Signal on Monday!

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  • On Sept 24, we recently partnered with Deribit and Gamma Prime to co-host, "The Capital Conversation," an exclusive private dinner for VCs, funds, and institutions driving the next wave of digital asset innovation. This invitation-only gathering created space for candid conversations on where markets are headed, how to strengthen institutional participation, and the opportunities we see on the horizon. We’re grateful to our partners and guests for joining us in shaping the future of digital assets, and to our hosts at Deribit and Gamma Prime for making the evening a success. Thank you to all who attended!

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  • As traditional finance players deepen their role in digital assets, the question isn’t if but how crypto-native companies maintain their advantage. At Signal: Institutional Strategies Amid the Noise on September 29 in Singapore, we’re convening leaders across capital, banking, and crypto to tackle this critical discussion: - Tiki Kong, Vice President, Revo Digital Family Office - Evy Theunis, MD, Head Digital Assets, Institutional Banking Group, DBS Bank - Lennix Lai, Global Chief Commercial Officer, OKX - Christopher Jensen, PM & Director of Research, Franklin Templeton - Haseeb Qureshi Qureshi, Managing Partner, Dragonfly Join us as we cut through the noise and debate where crypto companies can sustain their edge as institutions enter the space. RSVP now and save yourself a seat: lu.ma/signal

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  • Caladan reposted this

    View profile for Bella Park

    Ecosystem@Caladan | Market-Making, OTC, Treasury

    Yesterday, I had the honor of moderating a blast panel at KBW with Joshua Lim from FalconX , Jongu Shin from Presto , and Chuan Jin (C.J) Fong from GSR , diving into out topic: Where is liquidity headed? This year, KBW has been truly dynamic — the level of institutional involvement and the depth of discussions are unlike any other. It’s inspiring to see so many bright minds coming together, pushing boundaries, and shaping the future of this industry. I’m grateful to be part of these conversations and even more excited about the growth we’re building together.

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  • Our team is in Seoul this week for Korea Blockchain Week! #KBW has always been one of the most important gatherings for the industry, bringing together builders, investors, and partners shaping the future of digital finance. For us, it’s a chance to share Caladan’s vision, connect with global leaders, and engage directly with the communities driving innovation in DeFi and institutional crypto markets. If you’re here in Seoul and want to talk market structure, institutional DeFi strategies, or where Caladan is heading next, come find us.

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