Four Pillars is a blockchain research firm based in Seoul, South Korea, that provides thesis-driven analysis for institutional clients and crypto-native users. ^[1]​^[5]​^[2]​^[6]​

Overview

Founded in June 2023 by Namwoong Kim, Four Pillars is a crypto content-focused organization with a mission to help clients "stay ahead" in the crypto market. ^[3]​^[2]​

The firm states its goal is to:

"maintain an innovative edge in the industry by staying updated with the latest trends for each research thesis set, recognizing and introducing promising crypto projects, and by having skin in the game with companies related to our thesis." ^[3]

Four Pillars is known for its bilingual research, publishing content in both English and Korean. ^[7]​

Products and Services

Four Pillars offers research and network validation services. ^[3]​

FP Research

This is the firm's primary research division, which produces analysis in several formats:

• Comments: Short-form, timely analysis of recent news and market events.
• Articles: Longer-form pieces that provide perspectives and deeper insights on various topics.
• Issues: In-depth analysis focused on specific projects, trends, or investment theses.
• Reports: Comprehensive, flagship publications that serve as definitive guides or major market outlooks.

The firm also publishes a weekly newsletter on Substack, which has over 5,000 subscribers. ^[6]​

FP Validated

Four Pillars operates a validator service for various blockchains, contributing to network security and operations. ^[3]​

Notable Publications

Four Pillars has published a number of in-depth reports on various sectors within the crypto industry, including:

• 2026 Outlook: Restructuring
• The Definitive Guide to Prediction Markets
• The New Financial Order: How RWAs and Stablecoins Are Reshaping Financial Infra
• INITIA: Entering an Application’s Final Destination
• Everything, Rebuilt: The Sui Stack
• Asia Stablecoin Conference 2025 RecapThese publications are available on the company website. ^[1]

Team

The Four Pillars team consists of the following members: ^[3]​

Leadership

• Namwoong Kim (Steve) - CEO & Researcher. His research focuses on rollups and independent Layer 1 projects, based on the thesis that multiple blockchains will compete for market share. He holds a B.A. in Economics from Penn State University.
• Jaehwan Jeong (Jay) - Operation Lead & Researcher. He focuses on scalable smart contract platforms with flexible tech stacks and robust ecosystems. He holds an M.S. in Management Engineering and a B.S. in Industrial & Systems Engineering from KAIST.
• Heechang Kang (xpara) - Product Lead & Researcher. He advocates for app-specific blockchains and secure interoperability. He holds a B.S. in Computer Science from Hanyang University.
• Jinsol Bok (100y) - Research Lead & Researcher. His work concentrates on blockchain's real-world value via stablecoins, Real World Assets (RWAs), and DePIN. He holds a Ph.D. and a B.S. in Chemical and Biological Engineering from Seoul National University.

Researchers

• Jaewon Kim (Ponyo) - Researcher focused on crypto adoption through products with real usage and revenue. He holds a B.S. in History and Business Administration from Yonsei University.
• Ingeun Kim (Ingeun) - Researcher aiming to make complex topics like infrastructure and zero-knowledge proofs accessible. He holds an M.S. and B.S. in Computer Science and Engineering from Sogang University.
• Yugyeom Kim (Eren) - Researcher who views blockchain as a "money lego engine" and focuses on DeFi and RWAs. He holds a B.A. in Art Theory from Korea National University of Arts.
• Siwon Huh (c4lvin) - Researcher with a background in security who focuses on bridging the gap between technical projects and users, with an interest in privacy solutions. He holds an M.S. and B.S. in Computer Science and Engineering from Sungkyunkwan University.

Operations & Design

• Jiwhan Han (Astin) - Operator with prior experience at Hashed and the Kaia Foundation. He holds a B.A. in Economics from Yonsei University.
• Soomin Lee (Kate) - Designer responsible for the firm's visual graphics and merchandise. She holds a B.S. in Visual Communication Design from Hongik University.

Investors

In January 2024, Four Pillars secured KRW 700 million (approximately $500,000) in a seed funding round from Kakao Ventures, #HASHED, and BASS Investment. ^[8]​^[4]​

“Our foremost task and objective is to foster a developer-friendly environment through our quality research and products derived from it.” Co-founder & CEO Namwoong Kim commented.

“By addressing the challenges faced by both users and developers, we aim to lower the barriers to entry into the blockchain sector and expand the overall market of Web3.”

Trusted By

The firm's website lists a number of crypto projects and companies in its "Trusted by" section, including Abstract, Arch, Ethena, Frax, LayerZero, Mantle, Monad, Ondo, Polymarket, Safe, Securitize, Solana, Sui, and Uniswap. ^[3]​

Series A Funding & Expansion into Institutional Blockchain Infrastructure

On April 27, 2026, Four Pillars announced the successful close of its Series A funding round, led by Pantera Capital and Further, marking a strategic shift from its origins as a blockchain research firm toward becoming a broader institutional-focused blockchain research and infrastructure provider.

Since its founding, Four Pillars positioned itself around addressing fragmentation between Asian and global blockchain markets, focusing on bridging information, network, and institutional gaps across regions.

Over its first three years, the firm reported partnerships with more than 100 protocols and companies, publication of over 600 research pieces, and adoption by global protocols, enterprises, and institutional investors. ^[9]

Following the raise, Four Pillars expanded its business into three core pillars: FP Research, FP Validated, and FP Institution.

FP Research was restructured into five specialized divisions, covering Crypto, Investment, Institution, Asia, and Tech to deepen domain expertise.

FP Validated was launched as the company’s institutional-grade validator and staking infrastructure arm, aimed at supporting institutions entering onchain markets with staking and yield-focused infrastructure.

FP Institution, the firm’s institutional services division, was introduced to provide seminars and advisory services designed to connect Web3 and traditional finance participants, particularly across Asia.

Four Pillars framed this expansion as a response to growing institutional adoption, evolving regulation in Asia, and increasing demand for blockchain infrastructure that supports real economic and strategic execution. ^[9]