Protagonist is a Miami-based venture capital fund that operates more like a product-building studio, systematically contributing code and designing token models for portfolio protocols while incubating its own protocols in-house rather than just writing checks. The firm's founding team uniquely combines repeat founders from Solana DeFi, fintech revenue trading, and large-scale consumer payments, creating cross-pollination of deep crypto protocol experience with non-crypto operating expertise that is rare in a single GP group.