This article explores how onchain platforms challenge traditional business models by making software, data, and processes openly accessible. It discusses various forms of power, such as liquidity network effects and the erosion of switching costs, highlighting how these factors influence competitive advantages in the crypto space.

BMX, a growing derivative exchange, has teamed up with Token Terminal to enhance its onchain analytics and stakeholder reporting. This partnership aims to provide reliable data to support its significant trading volume and improve transparency for stakeholders.