Public Wealth

Hugo May

Token Advisory · System Design · Investment Consulting

I am fascinated by cryptoeconomic systems that enable public goods and create public wealth.

I solve cryptoeconomic problems for protocols and institutional investors using approaches typically found at the intersection of system design, valuation frameworks, and governance theory.

I understand what protocols need to ship, what investors need to underwrite, and where the two fail to communicate.

Crypto Advisory

I lead strategic consulting engagements for protocols and investors through Lemma Solutions, a Cayman-based firm. Selected work includes:

Governance system design
Designed the governance framework for a leading bridging protocol.
Grants program architecture
Designed the grants program system for a leading Bitcoin L2.
Go-to-market strategy
Developed the go-to-market strategy for a private equity tokenization platform.
Regulatory compliance
Developed a MiCA-compliant whitepaper for a Cosmos-based decentralized data storage solution.

Investment Consulting

I serve on regulated investment committees in Mauritius, with oversight responsibilities spanning traditional multi-asset mandates, wealth advisory, and crypto fund structures.

Multi-asset mandates
Oversight of large-scale traditional portfolios with approximately $800M in linked mandates.
Wealth advisory
Committee oversight across $40M in wealth advisory mandates.
Cross-border investment management
Broader Mauritius–Singapore investment management activity covering approximately $1.3B.

Research

I co-founded Just Cryptoeconomics to help builders and investors make better decisions around tokens, whether designing or investing. It is an open-access repository of ideas and frameworks. The Fundamentals Dashboard is our analytics product, built to surface the fundamental drivers behind a token's and its system's value.

Previous Positions

PolkastarterHead of Research
Smith + CrownCryptoeconomics Researcher
Invictus CapitalBlockchain Investment Analyst

Favourite Books

  • Thinking, Fast and Slow
  • The Black Swan & Antifragile
  • The Creature from Jekyll Island
  • Thinking in Systems
  • Algorithmic Game Theory
  • The Hobbit

Contact