The front door into how crypto actually works, written by a crypto exchange engineer.
Most crypto writing is either marketing gloss or academic theory. This repo sits in the middle:
- Wide enough for a new trader to follow along without a whiteboard
- Deep enough that an engineer finds at least one thing they didn't know
- Short enough to read on a subway, with clear pointers to dig deeper when the train stops
Every piece follows the same pattern: pick something everyone is doing or talking about, peel it open in public, and show the hidden layers that decide where your money goes, why the system behaves the way it does, and what that means for the next year.
Front door — this repo. Topical, visual, structured for first-time readers to land on and follow the story.
Deep dives live elsewhere. When an article triggers a topic that deserves 5000 more words, I link out:
meme-trade-wiki— full-stack breakdown of the meme trading industryblog.frankfu.cloud— long-form Chinese deep dives and personal engineering notes- Future vertical wikis as the topics warrant
Each article here has a "Go Deeper" section at the bottom pointing to exactly where in the wiki or blog the thread continues. Readers choose how far down the rabbit hole they want to go.
- Traders and curious crypto users — find out what's actually happening when you click "Buy"
- Engineers and researchers — pick up peer-level takes on new protocols and venues
- Recruiters and team leads evaluating web3 hires — this is the kind of work I do
- Price predictions
- "What is Bitcoin" primers
- Threadboi listicles
- Translations of other people's work
| # | Title | Date |
|---|---|---|
| 01 | Your $100 Meme Buy Costs $107. Here's Where the $7 Goes. | In progress |
| # | Title | Date |
|---|---|---|
| 02 | Why Hyperliquid Won Perps: A CEX Engineer's Architectural Breakdown | In progress |
| 03 | Prediction Markets in 2026: From "Gambling Site" to $127B Global Probability Infrastructure | May 2026 |
See the full plan in ROADMAP.md. Topics land in one of four buckets: anatomy, architecture, event reactions, insider post-mortems.
- The surface — what most people see, framed so a new reader can follow
- The hidden layers — what the system is actually doing, step by step
- The numbers — real data where I have it, representative numbers where I don't
- What this means — the reflection a newcomer can't write and a marketer won't write
- Go Deeper — links out to the wikis and long-form blog posts
Backend engineer at a crypto exchange. Trading systems and on-chain infrastructure, EVM and Solana. Currently going deep on the intersection of Crypto × AI.
- 📝 blog.frankfu.cloud — long-form Chinese deep dives
- 𝕏 @FrankFu2262
- 🐙 @survivorff
PRs welcome for typo fixes and technical corrections. Substantive disagreements are best had on X.
CC BY-SA 4.0 — free to share and adapt with attribution.