Tony Lau works as an investor at Primitive Ventures. Tony’s crypto journey began during his college years when he authored an Economics honors thesis assessing the impact of CBDC news on cryptocurrency markets. Before joining Primitive, Tony was a researcher at Fenbushi Capital, where he delved into areas such as DeFi, MEV, and infrastructure. His work included groundbreaking research on on-chain option protocols and the first systematic study on AMM designs that mitigate Losses-versus-Rebalancing (LVR).