Sunsetting the Analytics Platform
After six years of operation, we've made the difficult decision to sunset the Token Metrics analytics platform. This wasn't taken lightly—we've invested seven years into building and running this product, launching it back in November 2019.
The reality is the market has fundamentally shifted. Analytics tools have become commoditized, with major platforms like CoinGecko, CoinMarketCap, and others now offering trading signals and screeners. Many competitors are giving away features for free, subsidized by on-chain fee revenue. The SaaS model in crypto research is becoming increasingly difficult to sustain.
After extensive user interviews and surveys, the feedback was clear: the primary demand is for our indices product.
The Pivot to On-Chain Indices
We're reallocating all resources toward building AI-driven, non-custodial tokenized indices. The core product, the TM100, is designed to function as what we call a "smart index"—not a passive vehicle that holds through bear markets, but one that responds to market conditions.
How it works:
The index holds up to 100 tokens with weekly rebalancing
AI-driven regime detection shifts to stablecoins during high-risk periods
Fully non-custodial—your keys, your crypto
Fee structure: 1% management fee on assets, plus performance fees ranging from 5-15% on profits (based on staking tier)
Infrastructure Transition: Moving to Hyper Liquid
We're transitioning the index infrastructure from Base blockchain to Hyper Liquid's ecosystem. Managing rebalancing across seven different chains proved operationally complex. Hyper Liquid offers:
Deep liquidity for a wide range of assets
Simplified execution through their API and SDK
Potential for future product expansion (sector indices, leverage options)
This removes significant bridging complexity and opens the door to spinning up additional indices—AI-focused, DeFi, and sector-rotating strategies—without fragmenting liquidity.
Existing Customer Options
For current analytics subscribers, three options are available:
Convert unused credits toward index fee waivers (3x multiplier on remaining balance)
Receive a TMAI airdrop (1.5x multiplier, vested over 30 days)
Pro-rata refund via the original payment processor
For Astrobot holders, a snapshot has been taken. Holdings will be automatically converted to permanently staked VETMAI, preserving your staking tier for reduced performance fees. No action required.
Mobile Development Underway
Based on user data, approximately 60% of our traffic comes from mobile devices. We're actively developing a native mobile application for the indices platform. The web version remains the priority for initial rollout, with mobile to follow.
Market Commentary
Bitcoin's recent correction from $125K to approximately $85K has prompted the usual bear market speculation. Our view: this appears to be a healthy pullback rather than a cycle top. We continue to anticipate the cycle peak occurring somewhere between spring and fall 2026—though these remain hypotheses, not certainties.
Two macro factors we're watching closely:
Trade tensions with China — tariff announcements have caused significant leverage flushes (roughly $19 billion in liquidations following the October tariff news)
Federal Reserve policy direction — any shift toward more accommodative monetary policy would likely benefit risk assets, including crypto
The broader thesis remains: as crypto matures, finding outsized returns becomes more difficult. A diversified, risk-managed approach through index products may prove more sustainable for most participants than attempting to identify individual 100x opportunities in an increasingly crowded market.
What's Next
We're onboarding index users gradually, with initial deposit caps in place. This controlled rollout allows us to gather feedback and ensure stability before scaling. Those interested can join the waitlist; our team will conduct personalized onboarding sessions.
The roadmap:
Launch web-based index platform (live, limited access)
Transition to Hyper Liquid infrastructure
Mobile app release
Additional index products (TM50, sector indices)
Exchange listings and DeFi composability
This newsletter is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry significant risk.