Lachlan Breakey
Lachlan Breakey is a managing partner at Kosmos VenturesKosmos VenturesKosmos Ventures is an Australian venture capital firm focused on seed-stage and earlier investments in blockchain and digital assets; the projects listed on its website include Solana, Polkadot and NEAR.Open the full entry, an Australian crypto venture capital firm, and has co-authored research papers on token issuance mechanisms and the pricing of gas options in blockchains.
Contents7 sections
Key facts
October 4, 2023Publishing an Essay on “Real Yield”
On October 4, 2023, he published “Real Yield: Norm or Narrative” on HackerNoon, arguing that early DeFi liquidity mining struggled because of inflation and misaligned incentives, and that “real yield” tied to protocol revenue needs product-market fit and token economic design to back it; the article’s author bio says he held roles at Kosmos and Zero Age Ventures.[1]
2025Co-Authoring a Paper on Gas Option Pricing
October 2025Proposing the “Bullish Minting” Token Issuance Framework
With Juan P. Madrigal-Cianci, he co-authored the paper “Bullish Minting” under the Kosmos Ventures affiliation, proposing a framework that borrows from monetary policy to adjust the token emission rate dynamically according to network key performance indicators; the paper is dated October 27, 2025, and was later posted on SSRN.[4]
The Kosmos website also lists him as a co-author of the prediction market study “Prediction Markets as Bayesian Inverse Problems” and the working paper “Bayesian Futarchy.”[3]
As of October 2026: Managing Partner at Kosmos Ventures
Kosmos Ventures’ website lists him as a managing partner, saying he leads research, builds industry networks and maintains deal flow.[5]
Education and Early Career
According to the Kosmos website, he graduated from the University of Western Australia with a Bachelor of Commerce degree and worked in carbon offset trading early in his career.[5]
Related Organizations, Websites, and Public Accounts
Kosmos Ventures: Official website: https://www.kosmos.vc/ (opens in a new window)[5]
X: Public account: https://x.com/BreakeyLachlan (opens in a new window)[5]
Sources
- Real Yield: Norm or Narrative (opens in a new window)
- A methodology for pricing gas options in blockchain protocols (Crossref record) (opens in a new window)
- Kosmos (opens in a new window)
- Bullish Minting: An Adaptive Control Framework for Token Issuance (opens in a new window)
- Kosmos (opens in a new window)