Research Associate, Liquid Tokens

What You'll Be Responsible For

• Identify and evaluate liquid token investment opportunities across crypto markets (spot tokens, protocols, DeFi, layer-1/layer-2 ecosystems, and emerging digital assets); lead the underwriting process from sourcing and initial research through diligence, investment committee materials (memos/teardowns), and coordination with legal/compliance on structuring and execution.
• Produce high-quality written research (sector maps, protocol deep dives, tokenomics analyses, and investment theses) that can be used internally for decision-making.
• Stay deeply current on key trends, market dynamics, tokenomics, on-chain data, macro/regulatory developments, and sentiment drivers in crypto (with a focus on the US market); build repeatable research frameworks (dashboards, watchlists, and KPI sets) to anticipate, investigate, and map opportunities in fast-evolving sectors.
• Manage, grow, and maintain a robust network of relationships with token projects, protocol teams, exchanges, market makers, liquidity providers, other liquid funds, and key industry participants to source high-conviction ideas and stay at the forefront of liquid crypto markets.
• Test, measure, and iterate on alternative, data-driven sourcing channels for liquid opportunities, including on-chain analysis, secondary markets, OTC desks, launchpads, and ecosystem partnerships; build and maintain a structured coverage universe and idea pipeline.
• Collaborate with DCG's post-investment and platform teams to monitor portfolio token performance, provide value-add insights (e.g., market positioning, liquidity strategies), and support ecosystem growth where applicable.
• Contribute to building DCG's brand in liquid crypto markets through thought leadership, PR initiatives, event participation, and raising our profile among traders, protocols, and institutional participants.

What You'll Bring

• Bachelor's degree (finance, economics, business, computer science, engineering, or related field); advanced degree or CFA/equivalent a plus.
• 2-4 years of relevant experience in crypto markets, ideally with direct involvement in liquid token investing, trading, or research (e.g., buy-side, prop trading, market-making, or a leading crypto research firm).
• Demonstrated crypto research skillset: publication-quality writing, sector mapping, protocol/token teardowns, narrative formation, and comfort owning a coverage universe end-to-end.
• Strong understanding of crypto market structures, tokenomics, on-chain metrics, liquidity dynamics, and price drivers; prior experience analyzing and investing in liquid digital assets required.
• Demonstrated passion for crypto; prior hands-on experience in DeFi, trading, fintech, or related blockchain ecosystems a plus.
• Established network in liquid crypto markets (e.g., with protocols, exchanges, funds, or builders) and proven ability to build and manage high-value relationships.
• Ability to quickly learn emerging trends, synthesize complex information, and stay ahead in a fast-paced, 24/7 market environment.
• Analytical mindset with strong quantitative skills; comfort with on-chain analytics and data tooling (e.g., dashboards/queries), tokenomics/valuation frameworks, financial modeling, and risk assessment.
• Self-directed, efficient, and able to operate independently while being collaborative and team-oriented.
• Open-minded yet decisive in high-uncertainty environments.
• Excellent communication skills, especially written: ability to author clear research reports, investment memos, and IC-ready materials; strong verbal skills for presentations and investment discussions.

What We Offer

• Inspiring colleagues and an invigorating start-up environment.
• Competitive base salary, bonus and incentive compensation.
• Company paid health insurance for employee, partner and dependents.
• Life insurance, short-term & long-term disability coverage.
• 401K plan.
• Pre-tax transit and parking program and flexible spending programs for medical and dependent care.
• Unlimited PTO / Flexible time off.
• Paid parental leave.
• New water-front office with world-class perks and amenities.