Podcasts about multicoin

For episode 498, Founder Burnt Banksy joins Brandon Zemp to discuss Xion, the first walletless L1 blockchain purpose built for consumer adoption. Utilizing protocol-level implementations related to abstracted accounts, signatures, fees, interoperability, and more, XION empowers developers to build secure, intuitive, and seamless user experiences. The project has raised over $36M from top-tier investors including Animoca, Circle, Multicoin, Arrington Capital, Spartan, and more.Three years ago, Burnt Banksy's act of burning a physical Banksy ignited global discourse on NFTs and Web3, exposing the industry's flaws. The story was covered by leading publications including Bloomberg, CoinDesk, GQ, CoinTelegraph, BBC, CBS, and is often cited as the catalyst of the NFT revolution. Now, through the XION blockchain, founder Burnt Banksy leads a mission to democratize Web3 to the masses, making ownership accessible to all by removing unnecessary barriers and complications through chain abstraction.

In today's episode Dan Smith, Head of Data at Blockworks, joins Empire to break down why traditional crypto metrics are flawed. The episode begins with analysis of recent crypto payment acquisitions and Trump's proposed US Token Reserve, before diving deep into blockchain metrics and why REV matters more than active addresses or TVL. Dan explains Solana's outperformance of Ethereum through the lens of network revenue, examines Base's dominance in the L2 landscape, and closes with insights on Multicoin's new Solana inflation proposal. - - Help us shape the future of Empire. Fill out our audience survey and give us your thoughts: https://empire-31ed59.beehiiv.com/forms/01a0ba12-61d0-4a12-a6c6-8bbcdb3b0060 Start your day with crypto news, analysis and data from Katherine Ross and David Canellis. Subscribe to the Empire newsletter: https://blockworks.co/newsletter/empire?utm_source=podcasts Follow Dan: https://x.com/smyyguy Follow Blockworks Res: https://x.com/blockworksres Follow Jason: https://twitter.com/JasonYanowitz Follow Santiago: https://twitter.com/santiagoroel Follow Empire: https://twitter.com/theempirepod Subscribe on YouTube: https://tinyurl.com/4fdhhb2j Subscribe on Apple: https://tinyurl.com/mv4frfv7 Subscribe on Spotify: https://tinyurl.com/wbaypprw Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ - - GEODNET's native token, GEOD, can be easily mined with a GEODNET Satellite Miner, presenting a unique opportunity to generate passive income. By setting up a GEODNET base station, you can join this groundbreaking Web3 ecosystem that is powering the future of AI and robotics. Join the revolution today and learn more at https://geodnet.com. - - Unichain is a fast, decentralized L2 that's built to be the home for DeFi and liquidity across chains. To stay updated on news including the upcoming launch of Unichain, visit www.Unichain.org or follow @Unichain on X. - - Ledger, the world leader in digital asset security, proudly sponsors Empire podcast. Celebrating 10 years of protecting over 20% of the world's crypto, Ledger ensures the security of your assets. For the best self-custody solution in the space, buy a LEDGER™ device and secure your crypto today. Buy now at www.Ledger.com - - Timestamps: (00:00) Introduction (01:30) Crypto's Payment Acquisitions (08:23)  Trump US Token Reserve (11:37) Bitcoin Backed Loans (17:41) What is Broken in Crypto Data (23:32) Unpacking REV (31:48) Geodnet Ad (32:46) Uniswap Ad (33:33) Ledger Ad (34:16)  Most Important Metrics (47:53) Active Addresses (55:16) MultiCoin Inflation Proposal - - Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.

Gm! This week, we're joined by Tushar Jain to discuss his most recent Solana improvement proposal to reduce Solana's inflation & switch to a market based inflation rate. We deep dive into Solana's current emission schedule, how this could be improved, Solana the asset vs the network & another SIMD proposal Tushar is preparing to announce. Enjoy! Find out more about Tushar's inflaion proposal here: https://x.com/TusharJain_/status/1879942468726079773 -- Follow Tushar: https://x.com/TusharJain_ Follow Jack: https://x.com/whosknave Follow Mert: https://x.com/0xMert_ Follow Lightspeed: https://twitter.com/Lightspeedpodhq Subscribe to the Lightspeed Newsletter: https://blockworks.co/newsletter/lightspeed Utilize the Solana Dashboard by Blockworks Research: http://solana.blockworksresearch.com/ -- Ledger, the global leader in digital asset security, proudly sponsors the Lightspeed podcast. As Ledger celebrates 10 years of securing 20% of global crypto, it remains the top choice for securing your Solana assets. Buy a LEDGER™ device now and build confidently, knowing your SOL are safe. Buy now on https://shop.ledger.com/?r=1da180a5de00. -- Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- (00:00) Introduction (01:39) Solana's Inflation Problem (07:42) Ledger Ad (08:32) The Role Of Staking (16:46) Solana: The Asset vs The Network (20:24) Multicoin's Solana Inflation Proposal (33:17) The Role Of MEV (37:37) Risks To Reducing Inflation (47:21) Multicoin's Staking Proposal (54:53) Market Based Inflation (57:16) MEV On Solana -- Disclaimers: Lightspeed was kickstarted by a grant from the Solana Foundation. Nothing said on Lightspeed is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mert, Jack, and our guests may hold positions in the companies, funds, or projects discussed.

Tushar Jain, co-founder and Managing Partner of MultiCoin Capital, is one of the leading voices in crypto investment. In this episode, he shares his strategy for identifying high-conviction, long-term investments in blockchain projects that are shaping trillion-dollar markets. Tushar also reveals how his team navigates market downturns, when to double down on investments, and why patience is crucial in the world of crypto. This is a must-listen for anyone looking to understand what it takes to succeed as a crypto investor. In this conversation, we cover: -Tushar's approach to finding category-defining crypto projects. -The role of decentralization in the future of tech and finance. -How to identify crypto winners in a crowded market. -Why patience and conviction matter more than timing. -Lessons learned from past crypto crashes and market cycles. __________________________________ PARTNERS

---- Although our guest this week is a Managing Partner of a registered investment adviser, nothing in this podcast should be considered an offer of Multicoin's investment advisory services or should otherwise be confused for investment, tax, legal or other financial advice. -----

A not so long time ago, in a galaxy not so very for away, The Lads were joined by Kyle Samani, Managing Partner at Multicoin Capitol! Join us for a great discussion on the great Chain Wars, crypto's moneyness, and why Kyle says SOL will flip ETH! Although our guest this week is a Managing Partner of a registered investment adviser, nothing in this podcast should be considered an offer of Multicoin's investment advisory services or should otherwise be confused for investment, tax, legal or other financial advice. In Episode #63 we cover: 00:00 Coming Up on Steady Lads… 02:24 Why SOL Will Flip ETH 16:38 Crypto Moneyness 23:40 Fighting Bitcoin Doesn't Accomplish Anything 35:08 Vectors of Neutrality 42:59 Solana Vs New Chains 48:46 Crypto And The Election 52:06 Pasta of the Week

In today's episode, Connor interviews Shayon Sengupta, an early investor in DePIN. They discuss the rapid growth and potential of DePIN as a business model innovation enabled by crypto. Shayon highlighted the importance of both supply and demand sides in the DePIN space, emphasizing the need for pragmatic approaches to onboarding demand. They also touched upon the unique blend of applications and infrastructure in DePIN networks, with a focus on tokenomics and value transfer. Shayon shared insights on his role as an activist investor, providing valuable guidance to portfolio companies to increase their probability of success. He emphasized the significance of being involved in decision-making at the product and distribution side, leveraging his expertise in product development. Overall, the conversation delved into the evolving landscape of DePIN, the importance of token design, and the role of investors in supporting founders in the crypto space. It was an insightful discussion that shed light on the potential and challenges of DePIN networks. 00:00 - Intro 00:57 - Introduction to DePIN's Business Model Innovation 05:30 - The Debate Between Applications and Infrastructure in DePIN 07:25 - Investor Activism and Support for Founders Although our guest this week is an Investment Partner of a registered investment adviser, nothing in this podcast should be considered an offer of Multicoin's investment advisory services or should otherwise be confused for investment, tax, legal or other financial advice.

SOL/ETH is up 300% YoY and ETH/BTC is down 50% over the last 2 years. Why is that? Why is ETH underperforming so bad? Kyle Samani is the Managing Partner & Co-Founder at Multicoin Capital. Kyle and Multicoin have been one of the largest investors and proponents of Solana. They have been spearheading the ‘integrated blockchain' investment theses even before the success of Solana redefined that corner of crypto. This episode is not intended to be a debate like the Anatoly vs Justin Drake one. Ryan and David are mostly going to sit back and hear Kyle's perspective and reasoning as to why ETH has been down so bad in this crypto cycle. Enjoy! ------

In this episode, Kyle Samani of Multicoin Capital discusses his integrated blockchain thesis, challenging popular narratives around modular blockchain design. He delves into the nature of blockchains as financial systems, the importance of MEV in value capture, and the potential for near-zero transaction costs. Samani also explores the trade-offs between integrated and modular approaches, the future of AppChains, and the questionable role of blockchain beyond finance. Enjoy! - - Although our guest this week is a Managing Partner of a registered investment adviser, nothing in this podcast should be considered an offer of Multicoin's investment advisory services or should otherwise be confused for investment, tax, legal or other financial advice. - - Follow Kyle: https://x.com/KyleSamani Follow Rex: https://x.com/LogarithmicRex Follow nosleepjon: https://x.com/nosleepjon Follow Expansion: https://x.com/ExpansionPod_ Subscribe on YouTube: https://www.youtube.com/@expansionpod Subscribe on Apple: http://apple.co/4bGKYYM Subscribe on Spotify: http://spoti.fi/3Vaubq1 Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Join us at Permissionless III Oct 9-11. Use code: EXPANSION10 for a 10% discount: https://blockworks.co/event/permissionless-iii -- Timestamps: (00:00) Introduction (01:48) The Integrated Thesis (10:26) Permissionless III Ad (17:53) Purpose of Blockchains (19:12) ZK Based AI (25:18) Limits of Solana (36:42) Trade Offs of Modular Stack (43:05) Monetization in Modular System (56:07) App Chain Thesis - - Disclaimer Expansion was kickstarted by a grant from the Celestia Foundation. Nothing said on Expansion is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Rex, Jon, and our guests may hold positions in the companies, funds, or projects discussed.

MacBrennan Peet is the Co-Founder @ marginfi. Backed by Multicoin, Pantera, Sino Global Capital, & Solana Ventures, marginfi is a decentralized lending and borrowing protocol on Solana. In this episode we discuss the latest leadership adjustment at marginfi, all the interesting work they're shipping over the coming year (and what it means for the ecosystem), challenges (from past, in present) and how their team thinks about solving those obstacles, and much more.Recorded Monday April 29, 2024.

In today's episode Kyle Samani from Multicoin Capital joins Michael and Hart to discuss the complex dynamics of network effects in the blockchain ecosystem. The conversation dives deep into the different types of network effects at play, the phenomenon of anti-network effects caused by high gas fees, and the potential for blockchain technology to revolutionize global finance. Kyle shares his insights on the end state of L1 blockchains, the role of interoperability, and where value may ultimately accrue in the crypto stack. Along the way, they debate the relative importance of technological innovation versus monetary characteristics in driving value. Although our guest this week is a Managing Partner of a registered investment adviser, nothing in this podcast should be considered an offer of Multicoin's investment advisory services or should otherwise be confused for investment, tax, legal or other financial advice. -- Follow Kyle: https://twitter.com/KyleSamani Follow Hart: https://twitter.com/hal2001 Follow Mike: https://twitter.com/MikeIppolito_ Subscribe on YouTube: https://bit.ly/3R1D1D9 Subscribe on Apple: https://apple.co/3pQTfmD Subscribe on Spotify: https://spoti.fi/3cpKZXH- - - - Arbitrum is a game-changer for daily Ethereum's users and developers, offering top applications and lower fees. As the leading scaling solution with 600+ apps, explore Arbitrum's Portal to find your perfect fit. Interact with the home of DeFi, a flourishing NFT and creator ecosystem, and a rapidly growing Web3 gaming hub – Arbitrum has it all.  Get started at: portal.arbitrum.io  - - Monad is a fully EVM compatible Layer 1 blockchain that can support 10,000 real transactions per second. Monad aims to open up the design space for the EVM to support high fidelity defi, consumer facing applications, and more generally allow crypto to scale to the masses. If you are interested in participating in Monad's journey, follow: https://twitter.com/monad_xyz and join: https://discord.gg/monad - - SKALE is a modular, AppChain network that offers zero gas fee transactions and instant finality. Tailored for ease of development and onboarding, SKALE's configurable EVM chains enable next-gen use cases in gaming, AI, DePin, and others. With over 20,000,000 users having saved over $6 Billion on gas fees, SKALE is the blockchain for mass adoption. Bridge to SKALE at portal.skale.space and stay up to date with the gasless blockchain at @skalenetwork Timestamps: (0:00) Intro (03:20) Interview Start: Kyle Samani (6:53) Network Effects & Blockchains (20:57) Blockchain Based Games & Social Apps 29:12 Arbitrum Ad 29:58 Monad Ad 30:57 SKALE Ad (32:14) Integrated vs Modular (34:46) Protocol vs Token Network Effects (57:16) End State of L1s (1:10:38) Outro - - Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.

Burnt Banksy is the Founder of Burnt (https://burnt.com). Backed by Animoca, Circle, Multicoin, Spartan, HashKey, & more, Burnt is a web3 foundry, on a mission to advance society's financial and creative freedom, by any means necessary. Burnt is currently building XION, the first blockchain built to make crypto, human,  by empowering developers & brands to create frictionless Web3 experiences with a toolkit that removes technical barriers for any user, anywhere. In this episode we discuss the genesis of Burnt Banksy's journey in crypto, what it means to “rebuild broken systems of ownership by any means necessary,” some interesting ways XION is seeing adoption, how to build the right team for a studio model, what's changed in crypto since 2021, his unreal plans for XION's mainnet launch, & much more.Recorded Tuesday February 6, 2024.

底层公链作为通往Web3的高速公路，一直是加密行业备受关注的领域。2020年7月，作为彼时全球最大加密衍生品交易所之一，FTX突然宣布要采用当时还名不见经传的 Solana 作为底层公链来搭建去中心化交易所Serum，此后FTX的创始人SBF也多次公开为Solana站台。这曾推动Solana一度成为公链中热度最高、最受追捧的“明星”。 然而，2022年末，随着FTX和SBF的倒台，Solana也几乎迎来了灭顶之灾。在这一事件的影响下，Solana代币的价格在短时间内经历了近250 美元的高点到不足10美元的极限下坠，大量的知名项目、创业公司也开始纷纷从Solana出逃，转而投向其他公链。 就在大家都以为Solana会就此走向没落时，谁都没想到的是，过去一年，Solana从谷底攀升、实现了巨大逆转，如今不仅代币价格又重新回到了100美元以上，生态也再次活跃起来，讨论度节节攀升。关于Solana的涅槃重生，这期节目，我们邀请到了播客《后浪》的主理人、Step N的首席营收官Mable Jiang和BODL Ventures合伙人、前链闻创始合伙人兼总编辑刘锋，来一起探讨Solana究竟具有什么样的特点，又是如何从FTX的泥沼中走出实现东山再起的。 【主播】 Vicky，《Web3 101》播客主理人 【嘉宾】 Mable Jiang， 播客《后浪》主理人、Find Satoshi Lab 首席营收官 刘锋， BODL Ventures合伙人、前链闻总编辑 【你将听到】 【Solana项目起家背后的故事】 02:40 刚成立的Solana，作为以太坊挑战者之一到亚洲融资 04:30 旧金山首见Solana创始团队，听到“历史证明机制”（Proof of History）新思路 06:50 从批判资本及交易所炒作到如今重新审视Solana生态 【FTX崩盘后，东山再起的Solana生态】 08:15 FTX崩盘初期，Solana链上大量项目经历困难时期 09:36 虽然资本市场遭受重挫，但黑客松和开发者社区仍然保持活跃 10:27 转折点：2023年下旬重做亚洲生态，Meme coin开始吸引投资者关注Solana 13:13 社区生态持续活跃的原因：黑客松的资金支持吸引高质量开发人员、开发者关系维护保证创业者体验 16:14 Solana的最大特色是高性能，大部分公链只讲故事，Solana率先实现交付可用 20:04 宕机问题是可以优化解决的，并不是协议的共识机制有问题 21:02 对开发者生态支持是把双刃剑：开发者容易追逐短期利益，一旦生态出现问题便迅速流失 23:17 年轻人在Solana上的新玩法：Meme coin为Solana积攒大量新用户 【Solana的独特性和内在生命力】 25:13 Solana是所谓的以太坊挑战者里唯一一个没有“既要又要”的 28:04 目前以太坊的很多项目都在吃老本，在易用性的支持上偏弱 30:52 公链生态现状：以太坊的地位不可动摇，但Solana是后起之秀 33:38 Meme Coin火热的两面性：对长期价值有影响，但同时让基础设施得到检验和改善 37:54 Solana的亚洲生态经验：项目的本地化能力很重要，精细化的运营和BD 43:28 创始人的信念和坚持，崩盘之后坚持跟社区打交道 【Solana的后续发展展望】 45:42 换手本质上有助于拓展共识，Solana正在经历Lindy effect 48:29 FTX的大量代币倾倒带来一定不确定性，但如果相信背后生态也可能是机遇 50:10了解Solana发展动态的渠道：Solana的播客、交易所上的项目、项目相关人员的推特、Drift和Drop的新上项目、黑客松的拿奖项目 52:34 如Render、Helium等DePIN相关项目，与Solana是在特殊情况下的结合 56:41 Solana当前面临的挑战：大资本推动的潜在风险，网络本身的稳定性仍然不足，政府监管存在黑天鹅风险 【信息拓展】 1.林迪效应（Lindy effect）：指对于一些不会自然消亡的东西，比如一种技术、一个想法，它们的预期寿命和它们目前已经存在的时间成正比。即它每多生存一段时间，它的剩余预期寿命就会增加一点。 2.DePIN (Decentralized physical infrastructure）：是指一个由用户、设备用户和企业拥有并货币化的物理基础设备网络生态系统。它可以使分布在全球的个人能够共同构建、维护和运营共有的物理基础设施网络，而无须一个单一的、中心化的实体。该生态系统包括几个部分：云网络（VPN、CDN、文件存储、数据库）、无线（5G、物联网）、传感器网络、能源网络。 3.Render Network：一个基于区块链的分布式 GPU 渲染网络平台，在 2017 年由 OTOY 公司推出，旨在连接更多创作者和空闲的 GPU，让闲置的算力为电影、动画艺术渲染提供助力。相对于中心化云渲染，Render 是无上限的去中心化网络，解决的是供需问题，打破中心化储存的限制，集合空余的 GPU，连接需要额外 GPU 算力的创作者，让资源利用最大化。 4.Helium：最有名的 DePIN 项目之一，是一个去中心化的无线网络协议，激励用户部署网关推动基于 LoRaWan 技术的全球网络。最初自己构建了 Layer1 网络，但是采用性受阻，2023年4月完成了至 Solana的迁移，期望借此机会触达更大的用户群和流动性，并充分利用 Solana 网络的高效性完成进一步拓展。 5.Mable的《后浪》播客链接：[Solana沉浮录：很多的偶然与少许的必然 (https://www.xiaoyuzhoufm.com/episode/63d7f3e7f68874008c9a5941?s=eyJ1IjogIjYwNTg4ODc5ZTBmNWU3MjNiYjU3MGJmMSJ9)] 【后期】 AMEI 【BGM】 Mumbai — Ooyy 【Shownotes】 Juny ​ 【在这里找到我们】 收听渠道：苹果｜小宇宙 海外用户：Apple Podcast｜Spotify｜Google Podcast｜Amazon Music 联系我们：podcast@sv101.net ​ ​ 本节目不构成任何投资建议，投资有风险，入市需谨慎

On Episode 46 of Trends with Friends — Howard Lindzon, JC Parets, Phil Pearlman, Rob Petrozzo and Riley Rosebee review the Most Interesting Chart in the World, Bundling & Unbundling, All-Time Highs, Happy Hours in SoHo and CryptoPunks are the Rookie Cards. Like and Subscribe if you enjoy the show. Chapters Welcome Rob Petrozzo (0:00) Happy Hours in SoHo (1:48) The Most Interesting Chart in the World (3:38) Whipsaw Hunting Season (4:50) CryptoPunks Are The Rookie Cards (7:30) What's Not Working? (10:41) What's Working? (12:27) The Wall of Worry (13:35) Google + Shopify (18:33) Uranium and Coal, Not Oil and Gas (20:27) The Bitcoin ETF (22:20) Crypto Follows (25:50) Culture Center Sentiment (29:06) Bundling and Unbundling, S/O ZIRP (31:22) SoHo Tastemakers (38:50) Appeal to the 10% (43:20) Golf is Too Saturated (46:33) The Vision Pro (49:39) Rotation into China (53:51) This Is Not Financial Advice (56:52) Featured Links Rally Road — https://rallyrd.com/#  Joe McCann — https://twitter.com/joemccann  Kyle, Multicoin — https://twitter.com/KyleSamani  Mike Dudas — https://twitter.com/mdudas  I want my Vision Pro, Om Malik — https://om.co/2024/01/08/vision-pro-is-coming/#more-922192  This Is Not Financial Advice — https://tv.apple.com/us/movie/this-is-not-financial-advice/umc.cmc.xpzhsanwyvzm5kupo6f3sbz3  Howard's Blog — https://www.howardlindzon.com/  JC's Blog — https://allstarcharts.com/blog/  Pearl's Prime Cuts — https://primecuts.substack.com/  Riley's Blog — https://popularprice.beehiiv.com/  Follow Us on Twitter Howard Lindzon — https://twitter.com/howardlindzon  JC Parets — https://twitter.com/allstarcharts   Phil Pearlman — https://twitter.com/ppearlman  Rob Petrozzo — https://twitter.com/robpetrozzo  Riley Rosebee — https://twitter.com/be_rosebee --- Send in a voice message: https://podcasters.spotify.com/pod/show/trends-with-friends/message

Our conversation with Tushar, Cofounder and Managing Partner at Multicoin, is a refreshing change-of-pace from our usual set of topics. We talk about why crypto even needs to exist in the first place and what types of applications benefit most from the advent of permissionless digital assets. We also learn about how Tushar spots opportunities in the market from the perspective of an investor and what areas he's most excited for in the near-term. -        - Time Stamps (0:00) - Why crypto matters (9:45) - Defi's Endgame (13:57) - What doesn't need a blockchain (19:12) - DePIN's superpower (26:42) - Long-term L1 staking (33:23) - Will MEV be accepted by regulators (38:49) - Blast controversy (45:15) - How does Eth accrue value in a rollup world (49:52) - How to be early to investments (51:59) - Which narratives could lead next bull market (54:50) - Web 3 defensibility (59:05) - Could ICOs ever re-emerge? (1:00:28) - Secret to being a good founder -        - Podcast Resources Follow Sal: https://twitter.com/salxyz Follow Dave: https://twitter.com/SolBeachBum Follow Unlayered: https://twitter.com/UnlayeredPod Subscribe on Spotify, Apple, or Google: https://unlayered.io/ Subscribe on YouTube: https://www.youtube.com/@UnlayeredPod -        - Episode Resources Follow Tushar : https://twitter.com/TusharJain_

This episode is the opening presentation from Breakpoint 2023! You'll hear from Solana's top talent, including Anatoly, Dan Albert, Amira Valliani, Noah Prince and Mert Mumtaz. This is the Solana ecosystem deep dive you won't want to miss! - - Join us at DAS (Digital Asset Summit) in London this March! DAS is the #1 institutional conference in crypto, hosted by Blockworks. Use the link below to learn more, and use LIGHTSPEED20 to get 20% off your ticket! Sign up now because the price goes up every month. See you there! Learn more + get your ticket here: https://blockworks.co/event/digital-asset-summit-2024-london/home - - Timestamps (00:00) Introduction (00:52) Anatoly: The Solana Thesis (12:58) DAS 2023 Promo (13:55) Dan Albert: Firedancer Is Live On Testnet! (20:03) Amira Valliani: Client Diversity and Decentralization (27:35) Noah Prince: Only Possible On Solana (35:29) Mert Mumtaz: Now Is The Time to Build (42:18) Austin Federa and Anatoly: What's Next? - - Follow Anatoly: https://twitter.com/aeyakovenko Follow Dan: https://twitter.com/DanPaul000 Follow Amira: https://twitter.com/amiravalliani Follow Noah: https://twitter.com/redacted_noah Follow Austin: https://twitter.com/Austin_Federa Follow Mert: https://twitter.com/0xMert_ Follow Garrett: https://twitter.com/GarrettHarper_ Follow Lightspeed: https://twitter.com/Lightspeedpodhq Subscribe on YouTube: https://bit.ly/43o3Syk Subscribe on Apple: https://apple.co/3OhiXgV Subscribe on Spotify: https://spoti.fi/3OkF7PD Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ - - Resources Link to all Breakpoint panels https://www.youtube.com/@SolanaFndn Breakpoint 2023 https://solana.com/breakpoint - - Disclaimers: Although our guests this week are managing partners of a registered investment adviser, nothing in this podcast should be considered an offer of Multicoin's investment advisory services or should otherwise be confused for investment, tax, legal or other financial advice. Lightspeed was kickstarted by a grant from the Solana Foundation. Nothing said on Lightspeed is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mert, Garrett and our guests may hold positions in the companies, funds, or projects discussed.

Tushar Jain joins us to discuss how he identifies crypto applications that both create AND Tushar Jain joins us to discuss how he identifies crypto applications that create AND capture value. Tushar co-founded Multicoin Capital and is one of the most prolific investors in the space, known for his contrarian [and often correct] theses. In this episode, we cover Solana's rise from the ashes, how L1s accrue value, what crypto metrics matter, Solana's consumer chain narrative, the DePIN opportunity and more! - - Join us at DAS (Digital Asset Summit) in London this March! DAS is the #1 institutional conference in crypto, hosted by Blockworks. Use the link below to learn more, and use LIGHTSPEED20 to get 20% off your ticket! Sign up now because the price goes up every month. See you there! Learn more + get your ticket here: https://blockworks.co/event/digital-asset-summit-2024-london/home - - Timestamps (00:00) Introduction (01:31) The Solana Thesis (06:37) Internet Native Money and L1 Value Accrual  (12:28) Qualities of an Investable Application  (18:45) DePIN and New Methods of Token Distribution  (25:14) Why TVL is a Harmful Metric  (28:44) Solana's Consumer Chain Narrative  (32:09) DAS London Plug  (33:18) Metrics That Matter  (44:07) Solana's Decentralization  (47:41) Bitcoin's Problem  (55:00) Attention is Everything  (57:42) What's Your North Star? (59:51) Rapid Fire - - Follow Tushar: https://twitter.com/TusharJain_ Follow Mert: https://twitter.com/0xMert_ Follow Garrett: https://twitter.com/GarrettHarper_ Follow Lightspeed: https://twitter.com/Lightspeedpodhq Subscribe on YouTube: https://bit.ly/43o3Syk Subscribe on Apple: https://apple.co/3OhiXgV Subscribe on Spotify: https://spoti.fi/3OkF7PD Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ - - Resources Multicoin https://multicoin.capital/ Multicoin Summit 2023 Videos https://multicoin.capital/2023/10/06/discussions-from-the-2023-multicoin-summit/ The Techn-Optimist Manifesto https://a16z.com/the-techno-optimist-manifesto/ - -  Disclaimers: Although our guests this week are managing partners of a registered investment adviser, nothing in this podcast should be considered an offer of Multicoin's investment advisory services or should otherwise be confused for investment, tax, legal or other financial advice. Lightspeed was kickstarted by a grant from the Solana Foundation. Nothing said on Lightspeed is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mert, Garrett and our guests may hold positions in the companies, funds, or projects discussed.

Kyle Samani is the Founder of Multicoin Capital Kyles Twitter: ⁠https://twitter.com/KyleSamani Multicoin's Website: ⁠https://multicoin.capital/ Logan Jastremski's Twitter: @LoganJastremski Frictionless's Twitter: @_Frictionless_ Frictionless's Website: ⁠⁠https://frictionless.fund/⁠⁠ ___ Timecodes: 0:00 - Intro 1:40 - Reflection on the bear market 7:00 - Decentralized Physical Infrastructure Networks (DePIN) 14:00 - Render Network & Decentralized Compute 23:50 - Filecoin 27:15 - Supply & Demand within DePIN 29:30 - Integrated vs. Modular Design 38:30 - Pushing forward to Mainstream Adoption 41:30 - Money Crypto to Technology Crypto 47:30 - Overton Window Shifting 51:45 - First Principles Thinking 55:30 - Advice to Investors and Founders

In this spirited debate podcast episode, Tommy is joined by Kyle Samani, Co-Founder of Multicoin Capital, and Nick White, COO of Celestia Labs, to discuss the future of blockchain infrastructure. Kyle lays out the case for integrated blockchain platforms like Solana and Aptos that optimize for scalability, while Nick argues for the flexibility of modular networks like Celestia. They dive deep into the core philosophies underpinning modular versus monolithic designs when it comes to topics like scalability, verification, composability, and more. Kyle and Nick exchange perspectives professionally on whether modular systems or integrated chains will become the optimal architecture for blockchains in the long run. This intellectually stimulating discussion provides insight into the reasoning behind two schools of thought on blockchain infrastructure design. Learn about the end-state visions from Kyle and Nick as they civilly debate this important topic for the future of crypto and Web3. Resources The Hidden Costs of Modular Systems by Multicoin Capital Socials Kyle's Twitter Nick's Twitter Tommy's Twitter Follow Delphi Digital Website: ⁠⁠https://members.delphidigital.io/home⁠⁠ Twitter: ⁠⁠https://twitter.com/Delphi_Digital⁠⁠ Youtube: ⁠⁠https://www.youtube.com/@Delphi_Digital⁠ Disclosures Disclosures: This podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token. Delphi's transparency page can be viewed ⁠⁠here⁠⁠. Multicoin Capital Disclosure Although our guests this week are managing partners of a registered investment adviser, nothing in this podcast should be considered an offer of Multicoin's investment advisory services or should otherwise be confused for investment, tax, legal or other financial advice. Keywords blockchain, cryptocurrency, decentralization, web3, modular systems, integrated platforms, scalability, throughput, latency, flexibility, customizability, developers, smart contracts, consensus, proof of stake, interoperability, bridges, atomic composability, rollups, ethereum, solana, celestia, aptos, multicoin capital, infrastructure, architecture, verification, security, nodes, validation, governance, regulation, modular blockchain, monolithic blockchain,

We're joined by Kyle Samani, the co-founder of Multicoin Capital and one of crypto's most independent thinkers. In this episode, we cover why "monolithic L1s" is a misnomer, the value of global state, how a protocol establishes moats, why DePIN is finding product-market fit, how Kyle synthesizes new ideas and more! - - Timestamps: (00:00) Introduction (00:34) The Modular vs Monolithic Debate (07:43) Bootstrapping Communities (09:17) A Case for Rollups and Appchains (15:33) The Value of Composability and Globally Shared State (23:22) Crypto's Moats, Meat Space and the Saga Phone (28:38) Don't Sleep on DePIN (45:11) Spatial Computing and New Form Factors (53:42) Kyle's Thinking Process (57:49) Zero Knowledge Proof Use Cases (01:04:21) How Kyle Cultivated His Communication Style (01:06:03) Advice for Founders - - Although our guests this week are managing partners of a registered investment adviser, nothing in this podcast should be considered an offer of Multicoin's investment advisory services or should otherwise be confused for investment, tax, legal or other financial advice. - - Follow Kyle: https://twitter.com/KyleSamani Follow Mert: https://twitter.com/0xMert_ Follow Garrett: https://twitter.com/GarrettHarper_ Follow Lightspeed: https://twitter.com/Lightspeedpodhq Subscribe on YouTube: https://bit.ly/43o3Syk Subscribe on Apple: https://apple.co/3OhiXgV Subscribe on Spotify: https://spoti.fi/3OkF7PD Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ - - Use code EMPIRE30 to get 30% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023 - - Resources: Multicoin Capital https://multicoin.capital/ Unlocking Payments Over Crypto Rails https://multicoin.capital/2022/12/08/unlocking-payments-over-crypto-rails/ Stratechery (Ben Thompson) https://stratechery.com/ - - Disclaimers: Lightspeed was kickstarted by a grant from the Solana Foundation. Nothing said on Lightspeed is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mert, Garrett and our guests may hold positions in the companies, funds, or projects discussed.

Kyle Samani (Multicoin) joins Unlayered to share his views on a litany of topics. Mainly, what role does crypto have to play in emerging technological primitives like artificial intelligence and spatial computing. The trio also discuss why so much attention has been focused on infra vs consumer apps and the historical debate on modular vs integrated software architecture. This episode is a great way to gain a 10,000ft view of the space from the perspective of one crypto's best, and often contrarian, thought leaders. (1:03) - State of the market (8:29) - Crypto social apps vs web2 (13:46) - Verticalisation of NFT marketplaces (18:47) - Will AI agents use crypto? (28:56) - Are AI bots a net good? (34:02) - Eth's social scalability problems (39:15 - The merits of different blockchain designs (47:39) - Contrarian areas of interest in crypto (55:00) - Spatial computing -    - Podcast Resources Follow Sal: https://twitter.com/sal_coin Follow Dave: https://twitter.com/SolBeachBum Follow Unlayered: https://twitter.com/UnlayeredPod Subscribe on Apple: http://apple.co/3VyBSWI Subscribe on Spotify: http://spoti.fi/42q03J2 Subscribe on Google: https://tinyurl.com/5dwn2476 -    - Episode Resources Follow Kyle: https://twitter.com/KyleSamani Follow Multicoin: https://twitter.com/multicoincap  Relevant Multicoin Blogposts: Verticalization of NFT marketplaces - https://multicoin.capital/2022/06/22/beyond-verticalization-of-nft-marketplaces AI and Crypto - https://multicoin.capital/2023/06/02/the-convergence-of-crypto-and-ai-four-key-intersections Social Scalability - https://multicoin.capital/2021/05/25/technical-scalability-creates-social-scalability Rendering the Metaverse - https://multicoin.capital/2021/12/21/rendering-the-metaverse -    - Disclosures Although our guest this week is the managing partner of a registered investment adviser, nothing in this podcast should be considered an offer of Multicoin's investment advisory services or should otherwise be confused for investment, tax, legal or other financial advice.

We're joined by Kyle Samani, the co-founder of Multicoin Capital and one of crypto's most independent thinkers. In this episode, we cover why "monolithic L1s" is a misnomer, the value of global state, how a protocol establishes moats, why DePIN is finding product-market fit, how Kyle synthesizes new ideas and more! - - Timestamps: (00:00) Introduction (00:34) The Modular vs Monolithic Debate (07:43) Bootstrapping Communities (09:17) A Case for Rollups and Appchains (15:33) The Value of Composability and Globally Shared State (22:22) Permissionless Plug (23:22) Crypto's Moats, Meat Space and the Saga Phone (28:38) Don't Sleep on DePIN (45:11) Spatial Computing and New Form Factors (53:42) Kyle's Thinking Process (57:49) Zero Knowledge Proof Use Cases (01:04:21) How Kyle Cultivated His Communication Style (01:06:03) Advice for Founders - - Although our guests this week are managing partners of a registered investment adviser, nothing in this podcast should be considered an offer of Multicoin's investment advisory services or should otherwise be confused for investment, tax, legal or other financial advice. - - Follow Kyle: https://twitter.com/KyleSamani Follow Mert: https://twitter.com/0xMert_ Follow Garrett: https://twitter.com/GarrettHarper_ Follow Lightspeed: https://twitter.com/Lightspeedpodhq Subscribe on YouTube: https://bit.ly/43o3Syk Subscribe on Apple: https://apple.co/3OhiXgV Subscribe on Spotify: https://spoti.fi/3OkF7PD Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ - - Use code LIGHTSPEED30 to get 30% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023 - - Resources Multicoin Capital https://multicoin.capital/ Unlocking Payments Over Crypto Rails https://multicoin.capital/2022/12/08/unlocking-payments-over-crypto-rails/ Stratechery (Ben Thompson) https://stratechery.com/ - -  Disclaimers: Lightspeed was kickstarted by a grant from the Solana Foundation. Nothing said on Lightspeed is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mert, Garrett and our guests may hold positions in the companies, funds, or projects discussed.

Today I am speaking with Mable Jiang, Chief Revenue Officer at Find Satoshi Lab, a rapidly growing web3 product development studio renowned for its impressive lineup of dapps, including STEPN, one of the most widely used dapps in the Solana ecosystem. In addition to her pivotal role at Find Satoshi Lab, Mable has recently been announced as a new member of The Graph Council. The GRTiQ Podcast feels incredibly fortunate to introduce our listeners to Mable today, following our recent introduction to the other new Council member, Julien Genestoux.During this interview, Mable takes us on a journey through her unique background, which encompasses degrees in Art History and Statistics. She shares her firsthand experience of when she first discovered crypto and her subsequent venture into the industry. Mable also reflects on her time at Multicoin, providing valuable insights into her professional trajectory.We then dive into an in-depth discussion about The Graph, where Mable offers her perspective on the protocol and its significance. She shares her captivating insights into joining The Graph Council, shedding light on the responsibilities and opportunities that come with this role. Along the way, Mable provides us with remarkable insights into Asia's role in the industry and her vision for its future in that part of the world.Show NotesThe GRTiQ Podcast takes listeners inside web3 and The Graph (GRT) by interviewing members of the ecosystem.  Please help support this project and build the community by subscribing and leaving a review.Twitter: GRT_iQwww.GRTiQ.com

In this episode, Ben sits down with Kyle Samani, Co-Founder and Managing Partner of Multicoin Capital. Kyle has been at the forefront of blockchain technology and innovation since founding the firm in 2017. Kyle is known for his non-consensus perspectives and his ability to break down business concepts and market structures to their core essence. Let's get into it. Timestamps 2:50 What are the lessons learned from Pristine? 6:20 What were the biggest takeaways from Vision Pro? 12:30 How do you best consume information? 13:47 What is your process for developing investible theses? 16:30 Was the value proposition for Helium clear to you immediately?  18:48 Lessons learned from evaluating DePIN projects? 22:12 Evaluating market structures? 25:14 Opportunities at the intersection of AI x crypto? 30:25 What do you think about Zero Knowledge tech and Privacy? 34:47 Issues with restaking and EigenLayer? 38:39 How has VC in crypto evolved? 40:51 Do you consider MultiCoin to be a generalist? 43:07 What emerging categories are most appealing to you at the moment? 46:53 What is your most contrarian take on crypto? 49:32 What is your most contrarian take outside of crypto? 50:54 Where can people learn more about you? Resources Mentioned Pristine Some Thoughts on Vision Pro — Twitter thread Helium Hivemapper The Convergence of Crypto & AI: Four Key Intersections EigenLayer Connect with the guest Follow Kyle on Twitter https://twitter.com/KyleSamani Follow Multicoin on Twitter https://twitter.com/multicoincap Multicoin https://multicoin.capital/ Disclaimer  Ben Jacobs is a partner at Scenius Capital Management. All views expressed by Ben and the guests of this podcast are solely their opinions and do not reflect the opinions of Scenius Capital Management. Guests and the host may maintain positions in the assets or funds discussed in this podcast. You should not treat any opinion expressed by anyone on this podcast as a specific inducement to make a particular investment or follow a particular strategy but only as an expression of their personal opinion. This podcast is for informational purposes only. Quick reminder that despite our guest this week being a managing partner of a registered investment adviser, nothing in this podcast should be considered an offer of Multicoin's investment advisory services or should otherwise be confused for investment, tax, legal or other financial advice.

Aleksija Vujicic is an investor at Multicoin. We talk creating culture through content, how user generated content allows for co-creation, the evolution toward user generated products, and how web3 enables unique consumer experiences. - - Follow Aleksija: https://twitter.com/aleksijavujicic Follow Chase: https://twitter.com/chaserchapman Follow On the Other Side: https://twitter.com/ontheOSpod Subscribe on YouTube: https://bit.ly/3pJInKm Subscribe on Apple: https://apple.co/3M7wHbP Subscribe on Spotify: https://spoti.fi/3pMRbiM - - Resources From UGC to UGP: Consumer Brands & Co-Creation: https://multicoin.capital/2023/05/11/from-ugc-to-ugp-consumer-brands-and-co-creation/ - - Disclaimer: Nothing said on On The Other Side is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Chase and our guests may hold positions in the companies, funds, or projects discussed. Although our guest this week is employed by a registered investment adviser, nothing in this podcast should be considered an offer of Multicoin's investment advisory services or should otherwise be confused for investment, tax, legal or other financial advice.

Kyle Samani is the Co-Founder & Managing Partner of Multicoin Capital. Multicoin's performance over the last few years has garnered them the title of one of the Highest performing Venture Firms of All Time. Kyle and Logan speak to first principles, investing, and being thesis-driven in an extremely fast-moving environment. Enjoy! Kyle Samani - Co-Founder at Multicoin Capital - Kyle's Twitter: @KyleSamani - Multicoin's Website: https://multicoin.capital/ Logan Jastremski's Twitter: @LoganJastremski Frictionless's Twitter: @_Frictionless_ Frictionless's Website: https://frictionless.fund/

Tushar Jain is Co-Founder of Multicoin Tushar's Twitter: @TusharJain_ Multicoin's Twitter: @multicoincap Multicoin's Website: https://multicoin.capital/ Logan Jastremski's Twitter: @LoganJastremski Frictionless's Twitter: @_Frictionless_ Frictionless's Website: https://frictionless.fund/ Try out NEW Orca: https://bit.ly/neworca_logan ___ This Podcast was sponsored by Squads (https://squads.so) & Orca (https://www.orca.so/). Squads Protocol: the multisig standard you were looking for on Solana Securely manage your treasury, program upgrades and tokens with your Squad. - Multi-signature - A multisig requires multiple digital signatures in order to approve transactions. This is opposed to individual web3 wallets, which only require one signature. - Security - Multisigs spread the attack vector necessary for your assets to be compromised. By requiring confirmations from multiple private keys, a single point of failure is eliminated. - Collective Ownership - Multisigs allow teams to own and manage their on-chain assets together. You get to choose who is on your multisig. - Self-Custody - Your on-chain assets are always in your team's control. By securing them in a multisig, you forego the risk of centralized entities losing your funds. ___ Orca is a Concentrated Liquidity Automated Market Maker (CLAMM, for short). - Orca is the easiest place to trade crypto and build applications on Solana. - On Orca, you can trade tokens lightning fast and confidently (thanks to our Fair Price Indicator). Additionally, you can provide liquidity to our concentrated liquidity pools (Whirlpools) to earn trading fees and token emissions.

Although our guests this week are managing partners of a registered investment adviser, nothing in this podcast is investment, tax, legal or other financial advice. In this episode of Empire, Kyle Samani and Tushar Jain of Multicoin join us in their first public discussion since the fall of FTX and Solana's crash. We start with a detailed discussion about Multicoin's relationship with SBF and FTX: how they met, their views on SBF, watching the blow-up and the implications for Multicoin's fund. Kyle and Tushar then explain why they are still betting big on Solana, why most funds don't earn excess returns, how L2s offer false security, why defi isn't ready yet, prioritizing speed of security and more! Prediction: This will be the best episode of 2023. - - Timestamps: (00:00) Intro (01:37) SBF and FTX Backstory (15:48) Multicoin's Solana Bet (23:04) Quicknode (24:51) Synthetix (26:34) Conviction, Sizing and Earning Excess Returns (33:43) The Intersection of AI and Crypto (42:15) Why DeFi Isn't Ready (45:50) Decentralized Sequencers and the EVM (52:51) Poritizing Speed and L2 [False] Security (01:01:33) Multicoin's Bet on Filecoin (01:08:47) BTC and the SoV Use Case - - Follow Kyle: https://twitter.com/KyleSamani Follow Tushar: https://twitter.com/TusharJain_ Follow Jason: https://twitter.com/JasonYanowitz Follow Santi: https://twitter.com/santiagoroel Follow Empire: https://twitter.com/theempirepod Subscribe on YouTube: https://tinyurl.com/4fdhhb2j Subscribe on Apple: https://tinyurl.com/mv4frfv7 Subscribe on Spotify: https://tinyurl.com/wbaypprw Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/  - - This episode is brought to you by Quicknode. QuickNode is an end-to-end blockchain developer platform that makes building Web3 apps easy. Go to QuickNode.com and use code Empire for a free month on their feature-packed Build Plan! - - This episode is brought to you by Synthetix. Synthetix Perps is the most efficient decentralized perpetual futures engine, with 5/10 bp fees and up to 25x leverage. With a growing list of over 20 tradable markets, Synthetix Perps are available on Optimism via Kwenta.io and Polynomial.fi, with more coming soon! As a permissionless liquidity layer, Synthetix makes it easy for any protocol to integrate perps and earn 5%-10% of trade fees. - - Resources Multicoin Capital https://multicoin.capital/ https://twitter.com/MulticoinCap - -  Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.

In today's episode, Jason and Santiago discuss the bull vs bear case for ETH's Shapella upgrade. Since December 2021, ETH staking was one way. You could stake your ETH, but it was locked until the Shapella upgrade finally arrived. Shapella is here, and ETH is unlocked for the first time! Does this mean a giant supply of ETH sell pressure will hit the market? Will institutions embrace ETH now that Ethereum's roadmap is de-risked? Tune in to find out! We also discuss the NFT killer use case, Multicoin's L2 thesis and if the bear market has ended! - - Timestamps: (00:00) Introduction (03:23) NFT NYC and the NFT Killer Use Case (12:47) Shapella is Here (26:04) “Valora Ad” (27:10) Multicoin's Thesis: Solana, L2s & Speed vs Security (43:37) Is the Bear Market Over? - - Follow Santi: https://twitter.com/santiagoroel Follow Jason: https://twitter.com/JasonYanowitz Follow Empire: https://twitter.com/theempirepod Subscribe on YouTube: https://tinyurl.com/4fdhhb2j Subscribe on Apple: https://tinyurl.com/mv4frfv7 Subscribe on Spotify: https://tinyurl.com/wbaypprw Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ - - This episode is brought to you by Valora. Valora is a self-custody, mobile-first wallet... and the easiest way to send, swap, collect and purchase digital goods on the Celo blockchain. Download the app and start exploring today at valoraapp.com/empire. - - Resources: ETH Withdrawal Dashboard https://app.metrika.co/ethereum/dashboard/withdrawals-overview?tr=1d ETH Staking Dashboard https://dune.com/hildobby/eth2-staking - - Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.

Today's blockchain and cryptocurrency news Bitcoin is up slightly at $22,444 Ethereum is up slightly at $1,571 Binance Coin is up slightly at $291 Ripples' Brad Garlinghouse tells Bloomberg the SEC's regulation approach is putting the US at risk  Shanghai upgrade is slated for April TwelveFold Ordinals to auction from 3pm PST. ByBit halting deposits via SWIFT. Multicoin capital down 91% last year. Learn more about your ad choices. Visit megaphone.fm/adchoices

第一次做单口，提前感谢大家包容！本期要点：Solana的身世几何？Solana从零到一做对了什么事情？SBF 和 Solana是怎么互相选择的？SBF 为 Solana 带来了什么改变？Solana的开发者生态是怎么做起来的？Solana是怎么开始有人愿意用的？在FTX 轰然倒下的今天，Solana 何去何从？ 如果喜欢本作品，欢迎打赏ETH/SOL/BTC：ETH: 0x83Fe9765a57C9bA36700b983Af33FD3c9920Ef20SOL: AaCeeEX5xBH6QchuRaUj3CEHED8vv5bUizxUpMsr1KytBTC: 3ACPRhHVbh3cu8zqtqSPpzNnNULbZwaNqG 参考链接：Messari 上的各公链融资情况：Polygon: https://messari.io/asset/polygon/profile/launch-and-initial-token-distributionAvalanche: https://messari.io/asset/avalanche/profile/launch-and-initial-token-distributionNear: https://messari.io/asset/near-protocol/profile/launch-and-initial-token-distributionSolana: https://messari.io/asset/solana/profile/launch-and-initial-token-distributionMulticoin Capital 投资组合：https://multicoin.capital/portfolio/Solana黑客松相关链接：第一届黑客松：https://solana.com/de/wormhole-hackathon第二届黑客松：https://solana.blog/2000-participating-in-solana-defi-hackathon-kicking-off-tomorrow/Serum团队做的Solana上需要被搭建的东西，供参加黑客松的人参考：https://serum-academy.com/en/serum-project-ideas/project-ideas/ （该链接已失效）第三届黑客松：https://solana.blog/solana-season-global-hackathon-with-1m-prize-and-funding-pool/第四届黑客松：https://solana.blog/katana-wins-out-of-568-projects-launched-in-massive-solana-ignition-hackathon/第五届黑客松：https://solana.blog/solana-riptide-hackathon/ETH NYC的奖池：https://nyc.ethglobal.co/#prizesSolana基金会对于和FTX / Alameda 相关联资产的澄清：https://solana.com/news/solana-facts-ftx-bankruptcyRaj的推特：https://twitter.com/rajgokal/status/1608320254463348736Electric Capital 的开发者报告：https://www.developerreport.com/ 重要声明：Mable Jiang或嘉宾在播客中的观点仅代表他们的个人看法。此播客仅用于提供信息，不作为投资参考。Mable Jiang有时可能会在此节目中讨论的某项目中持有头寸。 Important Disclaimers: All opinions expressed by Mable Jiang, or other podcast guests, are solely their opinion. This podcast is for informational purposes only and should not be construed as investment advice. Mable Jiang may hold positions in some of the projects discussed on this show.

We caught up with Jayendra Jog, co-founder of Sei, to discuss their formation, and rapid recent growth, as well as their future plans to expand into Asia. More news about Sei Network MEXC, the world's leading crypto asset trading platform, announced a $20M dedicated fund to support the development of key projects on Sei Network, the layer 1 blockchain purpose-built for defi applications, designed to expedite the onboarding of institutional players at scale. This brings Sei's total funding to over 70m in just over 8 months since inception. So, what's next? Sei is currently in testnet, soon to launch mainnet at the end of Q1, and has already captured the imagination and attention of the global traditional finance community, as well as Sei's burgeoning crypto-native web3 community, with over 300k members Jay shares information on upcoming events this month in Tokyo with dydx, and other important additional early pillars of Asian expansion coming up this quarter, and tie in Sei's many news pegs with other key 2023 trends and news in the space. About Jay Jog Jay is the co-founder of Sei, the first sector specific L1 blockchain, specialized for trading. He was previously an engineering lead at Robinhood, where he saw the company 10x in employee count and go through major milestones such as the IPO. In 2021, he started building a decentralized Robinhood with his friend, eventually leading to the formation of Sei. About Sei Sei serves as the infrastructure for the future financial system to support capital markets, starting with exchanges. As the first Layer 1 specialized for trading, Sei is the fastest chain to finality, optimizing every layer of the stack to give exchanges an unfair advantage. Exchanges are the killer app of crypto, but current Layer 1s hold them back. Most L1s fall into two extremes, general-purpose and app-specific. Sei unlocks a new design space in between as a sector-specific L1. There are currently 100+ teams from Solana, Polkadot, Terra, and NEAR building on top of Sei going into mainnet. The team is backed by Multicoin, Delphi, Tangent, and several MMs like Hudson River Trading, and GSR.

Last Week of 2022 ------

Sol price wicked to $8.00, sitting at $8.38, from about 12 earlier in the week. Not great. Big tanking energy right now. SolEth headed off a Cliff at .007.Economy as a whole is on the fritz. Tech is down bad. Crypto is down bad, btc, eth, down bad. So yes Solana is also down bad. But it's down more than other's due to the narrative being absolutely nuked. FTX, Multicoin, 3AC, numerous defi hacks, a wallet drainer. What do we do? At this point, I'm just holding and looking for spots to buy in for some more. Degods and y00tz to Eth and Polygon. Polygon's bd strategy of paying to play. Solana Monkey Business is voting to change up leadership. Shrink the board and get Nom in as the CEO. Pumped about it. Bonk! I freakin Called it. Airdrops to communities bringing the whole Sol economy together. Shoe Ventures coming through with some fun in this bear market and giving us something to cheer for. There were hints in the Crypto Duck Punks Dao. Projects I checked out: Ottr finance - kind of like a Venmo for Solana. I deposited some USDC and sent to my wallet. Love seeing super easy ways to on-ramp and these type of projects are awesome. I found a bug that was crashing the app, tweeted out, and they had a fix out in like an hour. So id say that's a pretty solid team. Read a great thread on the possibilities of Helium's move to Solana. Decentralized internet coming to Solana! Pair it with the phone coming out early next year and you have a fully operational hardware stack for the internet. Jim Cramer, that's right, that Jim Cramer, said that only idiots are holding Solana. He's taking everything I'm working for. But for real, I've said this before and I'll say it again, this guy is like crack to boomer's and Finish on resiliency. High risk, high reward, we are seeing the other side of the risk right now. It's tough. People are losing serious amounts of money. I am not overinvested but it takes a toll to be down so much. So anyways I feel for anyone out there and my dm's are open for anyone needing some positivity. Props on the artwork for this pod, from the DudeDao, @marculinopng on Twitter. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thomasbahamas.substack.com

1st Week of December 2022 ------

Welcome to The Nonlinear Library, where we use Text-to-Speech software to convert the best writing from the Rationalist and EA communities into audio. This is: How VCs can avoid being tricked by obvious frauds: Rohit Krishnan on Noahpinion (linkpost), published by HaydnBelfield on November 27, 2022 on The Effective Altruism Forum. Rohit Krishnan is a former hedge fund manager. Both he and Noah Smith are now mainly-economics commentators, and have been good guides to the FTX crash on Twitter. I found this short piece very helpful in getting a sense of how big the screw-up was by the investors in FTX. It opens like this: We live in the golden age of technology fraud. When Theranos exploded, there was much hemming and hawing amongst the investing circles, mostly to note that the smart money on Sand Hill Road were not amongst those who lost their shirts. When WeWork put out its absolute sham of an IPO prospectus before getting cut by 80%, most folks said hey, it's only the vision fund that was lacking vision. But now there's a third head on that mountain, and it's the biggest. Theranos only burned $700 million of investors' money. Neumann at WeWork supposedly burned around $4 Billion, but that was mostly from Softbank. FTX puts these to shame, incinerating at least $2 Billion of investors' money and another $6-8 Billion of customers' money in mere hours. Soon to be legendary, worse than Enron and faster than Lehman, there is the singular fraud of FTX and its CEO Sam Bankman-Fried. But unlike those other crashes, this seems like it might take down multiple other firms, and create a 2008 moment for crypto, which used to be a $2 Trillion asset class. More importantly, to figure out how we can stop something like this from happening. Not fraud, since that's part of the human OS, but at least having the smartest money around the table getting bamboozled by tousled hair and cargo shorts. The part that I found the most illuminating was this section on 'Dumb Enron' and some of the specific mistakes made by big investors like Temasek and Sequoia. I. The problem: this is Dumb Enron Temasek, not known to be a gunslinger in the venture world, released a statement after they lost $275 million with FTX. It's carefully written and well worded, and is rather circumspect about what actually went wrong. They mention how their exposure was tiny (0.09% of AUM) and that they did extensive due diligence which took approximately 8 months, audited financial statements, and undertook regulatory risk assessments. But the most interesting part is here: As we only had a ~1% stake in FTX, we did not have a board seat. However, we take corporate governance seriously, engage the boards and management of our investee companies regularly and hold them accountable for the activities of their companies. Sequoia, when it lost $214 million across a couple of funds, also mentioned in their letter to LPs they did “extensive research and thorough due diligence”. A week later they apologized to the LPs on a call and said they'll do better, by maybe using the Big 4 to audit all startups. I suspect this is hyperbole because otherwise this is medicine sillier than the disease. These are not isolated errors in judgement though. The list of investors in FTX is a who's who of the investing world - Sequoia, Paradigm, Thoma Bravo, Multicoin, Softbank, Temasek, Lux, Insight, Tiger Global. Doug Leone made the reasonable point that I made above, that VCs don't really do forensic accounting. They got some audited financials, and it looked good, but it's a snapshot at the end of a quarter, so why would they know shenanigans had taken place! But honestly, if VCs had been snookered by Theranos, that would make more sense. Like what do VCs know about how much blood is needed to test something? Sure it doesn't quite sound right (100s of tests from a single drop of blood!) and there were people saying this is impossible, but they say that kind of thing about everything! And Holmes' pro...

3rd Week of November, 2022 ------

The craziest 48 hours in crypto history? From the apparent takeover of FTX by Binance to no more takeover to SBF now being probed by U.S. regulators. As the dust settles, we cover everything that's unfolded in the last 24 hours and how it'll reshape crypto moving forward. If you missed yesterday's stream where we go over the timeline of how all this happened and got industry leaders Brian Armstrong, Erik Voorhees, & Ryan Selkis to share their thoughts—you can find it here: https://youtu.be/LDtZyMcaaNY  ------ Earnifi | Check For Your Unclaimed Airdrops, POAPs, & NFTs https://bankless.cc/earnifi  ------ SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/?utm_source=banklessshowsyt  ️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  ------ BANKLESS SPONSOR TOOLS: ️ ARBITRUM | SCALING ETHEREUM https://bankless.cc/Arbitrum  ACROSS | BRIDGE TO LAYER 2 https://bankless.cc/Across  BRAVE | THE BROWSER NATIVE WALLET https://bankless.cc/Brave  NEXO | CRYPTO FINANCIAL HUB https://bankless.cc/Nexo  LEDGER | NANO HARDWARE WALLETS https://bankless.cc/Ledger  ️FUEL | THE MODULAR EXECUTION LAYER https://bankless.cc/Fuelpod  ------ Timestamps: 0:00 Intro 5:05 The Recap https://twitter.com/wassielawyer/status/1590025892994371584  https://twitter.com/RyanSAdams/status/1590150120250966016  14:37 Our Mood 25:00 The Story Continued https://twitter.com/cz_binance/status/1590351182513729544  29:50 SBF Deleting Tweets https://twitter.com/ledgerstatus/status/1590115753331937281  31:27 Ooof https://twitter.com/ercwl/status/1590165313190260737  https://twitter.com/Snowden/status/1590319361863995394  33:35 SBF Letter to Investors https://twitter.com/WClementeIII/status/1590107340317294593  35:20 UPDATE https://www.coindesk.com/business/2022/11/09/binance-is-strongly-leaning-toward-scrapping-ftx-rescue-takeover-after-first-glance-at-books-source/  https://twitter.com/Blockworks_/status/1590441854960820224  37:35 US Probes FTX https://www.bloomberg.com/news/articles/2022-11-09/us-probes-ftx-empire-over-handling-of-client-funds-and-lending  39:30 https://twitter.com/tier10k/status/1590444221525278721  https://twitter.com/tier10k/status/1590394410151251968  https://twitter.com/depression2019/status/1590383943358218240  43:26 Alameda Website Dead https://twitter.com/WClementeIII/status/1590406041250181120  https://12ft.io/proxy?q=https%3A%2F%2Fwww.wsj.com%2Farticles%2Fbinance-is-said-to-be-likely-to-walk-away-from-deal-to-buy-ftx-11668020963  44:20 How This Happened? https://twitter.com/LucasNuzzi/status/1590122590206824448  1:02:00 Binance Tweets https://twitter.com/binance/status/1590449161069268992  Onchain flows https://www.coindesk.com/markets/2022/11/09/these-four-key-charts-shed-light-on-the-ftx-exchanges-spectacular-collapse/  https://twitter.com/LucasNuzzi/status/1590122590206824448  1:05:07 Convo Starter https://twitter.com/crypto_condom/status/1590338735606231041 1:08:05 10% of Multicoin on FTX https://twitter.com/TheBlock__/status/1590349978873913350  1:09:39 Galaxy Exposure to Alameda https://www.theblock.co/post/184262/galaxy-digital-reveals-ftx-exposure-in-q3-earnings-report  1:10:00 FTX Investors https://twitter.com/fintechfrank/status/1590145184020328448  1:10:46 Other Chains https://twitter.com/dunleavy89/status/1590056663767449600  1:11:15 FTX.US is Okay https://www.axios.com/2022/11/09/ftx-us-american-subsidiary-impact-liquidity-crunch  1:11:30 Emotions https://twitter.com/0xfoobar/status/1590204552891899907  https://twitter.com/cobie/status/1590188580483497985  https://twitter.com/shaughnessy119/status/1590201528014753792  https://twitter.com/lawmaster/status/1590238771915935744  People Selling their FTX Balances  https://twitter.com/TensaiCapital/status/1590301595237224449  SBF Down Bad ATH https://twitter.com/econoar/status/1590130144815218689  1:20:25 CZ Tweets https://twitter.com/cz_binance/status/1590313459132305408  1:22:00 Solana Unlocks https://twitter.com/thedata_nerd/status/1590307325650182144  1:27:00 Coinbase Gud https://twitter.com/ViktorBunin/status/1590064600178835457  1:27:16 The Meta Question https://twitter.com/BanklessHQ/status/1590341304172838913  1:27:30 What Happened & Closing Thoughts 1:34:05 Risks & Disclaimers 1:34:35 Leaving you with Larry David https://twitter.com/LilMoonLambo/status/1590145235291893760  ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://www.bankless.com/disclosures 

Tushar Jain is the co-founder and Managing Partner at Multicoin Capital, which is one of the largest and most established crypto-focused investment firms in the world. The firm manages billions in assets across liquid and illiquid strategies in the crypto markets, and is known for its high-conviction, thesis-driven investing.Tushar discusses his background and journey into the blockchain space, the state of crypto and the recent downturns. Then, he dives into Multicoin's early investment in Solana, Proof of Physical Work, tokenization and real-world blockchain applications.——————————————————————Watch this video on YouTube: https://www.youtube.com/c/SALTTube/videosFor podcast transcripts and show notes, visit https://www.salt.org/Moderated by Anthony Scaramucci. Developed, created and produced by SALT Venture Group, LLC.

In the last episode of The Scoop, we explored why some venture capitalists are becoming reluctant to invest in token models. However, not all VCs in the crypto space share this sentiment. Multicoin Capital — a VC whose combined crypto funds total nearly $550 million — is “primarily token investors,” according to managing partner Kyle Samani. In this episode of The Scoop, Kyle Samani talks through some of Multicoin's recent investments and lays out when the token model can be an effective value capture mechanism for up-and-coming crypto projects. As Samani explains, token incentives are ideal for projects that require a large initial investment in exchange for prolonged rewards: “If you can identify use cases where the token is incentivizing one upfront action that has long lasting or perpetual value creation elsewhere, that is a super, super compelling way to use token incentives.” Episode 90 of Season 4 of The Scoop was recorded live at SALT New York 2022 with The Block's Frank Chaparro and Research Director George Calle with Multicoin Capital Managing Partner Kyle Samani. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com. This episode is brought to you by our sponsors Tron, Chainalysis & IWC Schaffhausen About Tron TRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. | TRONDAO | Twitter | Discord | About Chainalysis Chainalysis is the leading blockchain data platform. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 60 countries. Backed by Accel, Addition, Benchmark, Coatue, Paradigm, Ribbit, and other leading firms in venture capital, Chainalysis builds trust in blockchains to promote more financial freedom with less risk. For more information, visit www.chainalysis.com. About IWC Schaffhausen IWC Schaffhausen is a Swiss luxury watch manufacturer based in Schaffhausen, Switzerland. Known for its unique engineering approach to watchmaking, IWC combines the best of human craftsmanship and creativity with cutting-edge technology and processes. With collections like the Portugieser and the Pilot's Watches, the brand covers the whole spectrum from elegant timepieces to sports watches. For more information, visit IWC.com.

Kyle Samani is the Co-Founder and Managing Partner @ Multicoin Capital, one of the leading crypto native funds of the last decade with positions in Solana, FTX, Fractal, and Helium to name a few. As for Kyle, before moving to the world of venture and crypto, he founded Pristine, a health IT startup that raised more than $5M in VC, and was acquired by Upskill. In Today's Episode With Kyle Samani We Discuss: 1.) The Founding of Multicoin Capital: How did Kyle make his way from a healthcare startup to founding Multicoin? What was his a-ha moment with the realization of the opportunity we have ahead of us in crypto? What does Kyle know now that he wishes he had known when he started Multicoin? 2.) Crypto Investing in 2022: Why does Kyle believe the crypt investing landscape is less collaborative than ever? What are the biggest challenges of token issuances today? How does the option of liquidity help and hurt Kyle's investor psychology? Is Kyle concerned the volatility in the market will harm institutional investor sentiment for crypto? 3.) Constructing a Crypto Portfolio in 2022: Why does Kyle not believe in temporal diversification? Why does sector-centric company diversification suck? Why are the loss ratios in crypto so much lower than in traditional venture? Why does Kyle believe a no reserves model is optimal in crypto? 4.) Multicoin vs Traditional Venture Firms: Why does Kyle believe that every person over 10 people in a venture firm is a net negative towards the investment decision-making process? What do Kyle and Multicoin do reach the truth together? How do they aggressively use writing and word docs to progress their thoughts? Their discussions are "brutal", how brutal can one be in a discussion on a deal? How does one make team members feel safe but also really push them for the truth and debate? Item's Mentioned in Today's Episode: Kyle's Favourite Recent Reading: Eugene Wei Kyle's Most Recent Investment: Delphia

Second Week of July, 2022 ------

Multicoin Capital is a thesis-driven investment firm that invests in the crypto space. They manage a hedge fund and a venture fund, investing across both public and private markets. Since their founding in 2017, they have become known for their high returns.We were joined by founders Kyle Samani and Tushar Jain, for Multicoin's third visit on the show, to chat about how they came together to form Multicoin, their current investment thesis and how it has evolved, and the road ahead in the blockchain ecosystem.Topics covered in this episode:Tushar and Kyle's backgrounds and what led to MulticoinWhy did they choose to create an investing company?Their current investment thesis and how it has evolvedMulticoin's decision to not invest in certain lucrative projectsHow they chose what to invest inThe Proof of Physical Work thesisThe process of how they select an investment and the strategy behind their portfolioProjects they regret not investing inA prediction of how the blockchain ecosystem will look in three yearsDominance of DeFiEpisode links:Episode 361 with KyleEpisode 223 with Kyle and TusharProtocols dont capture value, DAOs manage risk - thesisMulticoin on TwitterKyle on TwitterTushar on TwitterSponsors:ParaSwap: ParaSwap aggregates all major DEXs and makes sure you beat the market price at every single swap and with the lowest slippage - paraswap.io/epicenterChorus One: Chorus One runs validators on cutting edge Proof of Stake networks such as Cosmos, Solana, Celo, Polkadot and Oasis. - https://epicenter.rocks/chorusoneThis episode is hosted by Friederike Ernst. Show notes and listening options: epicenter.tv/441

Kyle Samani is Managing Partner at Multicoin Capital, a thesis-driven crypto investment firm that he co-founded with Tushar Jain. Multicoin was founded in 2017, and manages several billion in assets under hedge funds and venture funds.Previously, he was co-founder and CEO of Pristine, a company building Google Glass software for surgeons.Under Kyle's management, Multicoin has made some notable investments including Solana, Near, Helium, Audius, and Arweave, making Multicoin one of the most successful crypto funds around. Kyle's writing and successful contrarian bets have made him one of the most respected thought leaders in the crypto space. 

Welcome to ep 105 of the FTX Podcast with special guest Tushar Jain and your host Tristan Yver.Tushar cofounded Multicoin Capital with Kyle Samani, a previous podcast guest (ep 25 & 78). Multicoin is a thesis-driven investment firm that invests in cryptocurrencies, tokens, and blockchain companies reshaping trillion-dollar markets. Website: https://multicoin.capital/Thank you for your time, energy & insight Tushar!

How do you find the next Solana? In the final part of our trilogy, we examine where Multicoin is looking for future fund-returners, exploring emergent themes and groundbreaking startups. This piece is brought to you by FTX US. To get started building your crypto portfolio, earn interest, and save on fees, download the FTX US app here (make sure to use the code “generalist,” and get a free coin when you trade over $10 worth of crypto). To find the original piece, published April 3, 2022, follow this link. Subscribe to this podcast, and to our newsletter at readthegeneralist.com. You can also follow @mariogabriele and @thegeneralistco on Twitter for updates.

I've got Kyle Samani back for his third appearance on Panic with Friends. As unusual, Kyle does a fantastic job of breaking down crypto with compelling use cases that will leave you with a better understanding of where we've been and where the promise of Web3 will take us. I've been a personal LP in his fund since it started in 2017, with positive results even through the brutal Crypto Winter of 2018/19. This episode piggybacks last weeks episode with Tushar Jain, Kyle's co-founder at Multicoin Capital. Listen to them both. You'll walk away realizing the inevitability of Web3 and where the major trends in technology are developing.  Guest - Kyle Samani, Co-Founder and Managing Partner of Multicoin Capital  Multicoin Summit Keynote howardlindzon.com, multicoin.capital  Twitter: @howardlindzon, @PanicwFriends, @kylesamani, @multicoincap, @knutjensen  linkedin.com/in/kylesamani  #fintech #invest #investment #venturecapital #stockmarket #finance  Show Notes:  (00:37) – Intro (03:38) – The biggest change from the multitude of crypto pullbacks (04:45) – Growth and estimates of individual crypto holders (05:30) – Changes in how people access information (07:48) – Trading platforms are a commodity (09:23) – The 'flippening' from stocks to crypto (10:27) – Composability explained (13:45) – Building higher order apps on top of existing things (16:11) – Importance of latency and throughput (17:45) – Accelerating the adoption of sovereign software (19:54) – How things are different now (23:04) – The case for compute (Render) (28:20) – Designing a token system that captures value (32:07) – Fleshing out the Web3 infrastructure (32:17) – Defining Web3 (34:25) – Web3 compliments Web2 (35:41) – Understanding competing blockchains (38:47) – Binance, FTX, and Coinbase (43:46) – Closing thoughts

In this episode, Dan Albert (Executive Director), Lily Liu (President) and Mable Jiang (Board Member) discuss the role of the Solana Foundation in advancing the Solana protocol and ecosystem with support and initiatives around the world. Austin Federa (Head of Communications, Solana Labs) guest hosts. 0:43 - Intros / Roles3:13 - The appeal of working at the foundation level07:48 - Establishing scope for the foundation12:42 - What's working in the ecosystem?20:01 - From the ecosystem to the foundation21:21 - Growing Solana in new markets33:50 - Shared Ownership of the network36:21 - Predictions for 2022 in crypto and web 3.0DISCLAIMERThe information on this podcast is provided for educational, informational, and entertainment purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose.The information contained in or provided from or through this podcast is not intended to be and does not constitute financial advice, investment advice, trading advice, or any other advice.The information on this podcast is general in nature and is not specific to you, the user or anyone else. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented on this podcast without undertaking independent due diligence and consultation with a professional broker or financial advisor. Austin Federa (00:10):Welcome to the Solana podcast. I'm Austin Federa filling in as guest host today. We spend a lot of time on the show talking to founders and builders in the space, people building on the Solana blockchain or otherwise involved in the Solana ecosystem. But today we're actually going to be talking about a different component, which is the Solana Foundation. Today with us, we have Dan who's the executive director of the Solana Foundation. We have Lily, who's the president of the Solana Foundation and Mabel, who's one of the board members of the Solana Foundation. Welcome to the Solana podcast, guys.Lily (00:39):Thanks for having us.Dan (00:40):Great to be here.Mabel (00:41):Thank you.Austin Federa (00:42):All right, Dan, let's start out with you. Tell me a little bit about what the Solana Foundation's role is in the ecosystem.Dan (00:49):Sure. The foundation is really here to help foster the growth of the Solana network and really the Solana ecosystem kind of in broad strokes at the highest level, what can we do to make sure that the Solana network continues to grow in the most kind of sustainable and decentralized manner as possible? And how can we provide resources and help the community grow to onboard the next or the first billion users to the Solana ecosystem and crypto in general?Austin Federa (01:24):Lily, what attracted you to the Solana Foundation? And how did you get involved in it?Lily (01:30):Well, I've been in the crypto ecosystem for a little bit and I must confess that in 2018, 2019, I actually spent a good bit of time being a Bitcoin maxi. And then I even was part of Little Bitcoin Book and which is not to say, sometimes I feel like people in crypto are a little bit maybe too tribal, which is not to say I don't love Bitcoin. I still consider Bitcoin to be king. But when I took a little bit of time out of crypto, when I came back to crypto, I started just using a lot of the apps that had sort of emerged out of DeFi Summer and I was totally floored by using Raydium in April. I really could not stop talking about it for just about a month because it was very squarely Web 3.0 but it felt like Web 2.0 and it was just so obvious to me at that moment that this was going to be how the next billion people, if we were going to get a billion people into crypto, anytime soon it was going to be on Solana.Solana to me is just such a unique combination of being technically so innovative but at the same time, really understanding that to bring people into the ecosystem, it has to be a good experience. And sometimes for your end user, it really just is as simple as saying, "It's fast and cheap." And that's why ethernet is just better than 56K modems. And sometimes it just has to be that simple to the end user if you're going to appeal to a billion people.Austin Federa (02:48):Yeah, I completely agree with you. There's been so many of those moments I've sort of heard over the last year of people just trying something on Solana and having this experience of, oh, it just works. It's fast. It feels like a Web 2.0 application but it's delivered in a fully decentralized way. Just based on that, what was the decision in your mind to, tons of people have that experience, they go build something, they go work for a company building in the space in terms of a service provider company. What was the sort of appeal of something that's more at the foundation level?Lily (03:19):To me, I think that, I come from a background where I spent a lot of time, I originally started working in more traditional industries. I worked in McKinsey, I worked at KKR and I kind of fell into Bitcoin back in 2013, 2014, which at the time was not a very obvious thing to do. And so for me, I think one of the things that I maybe add to the ecosystem is helping run effective organizations and thinking about sort of how to scale a commercial kind of go to market strategy and having been in the ecosystem for a little bit. And so for me, what's always attracted to me to crypto and Web 3.0, is these kind of new ultimately end user experiences that you enable for, not just those of us who've been kind of nerding out over technical sort of minutia left and right but really making that accessible and available.Lily (04:17):Some of the things that I'm really excited about facilitating through the foundation is kind of new markets growth outside of the US, outside of Europe, outside of the parts of East Asia that are already very familiar with cryptocurrency. And to me, it's so clear that if these types of applications, call it DeFi or sort of more metaverse or social or NFTs are going to take hold, then it's most likely going to start on Solana first. And so just being a part of that and sort of making that more accessible to a broader rate of people is really what's exciting to me.Austin Federa (04:51):And Mabel, you tell us a little bit about your path to becoming a board member at the Solana Foundation.Mabel (04:57):I think among all the people here, I probably joined the board the earliest. I joined when the board started, the foundation started. That kind of history just goes back to when I think before the token launch of Solana happened to that Anatoly and Raj, they were in China and in East Asia. And then that was even before my time joining Multicoin. I met them, obviously at that point it was 2019 and then it wasn't really easy to raise fund for sure. But then we kind of just happened to hang out a lot in Shanghai, in Seoul. I think another places like Beijing and whatever. And then we spent a bunch of time over those three weeks and then talked about, oh, how do I think about or how do we usually think about go to market strategies for public chains? And then how do people really differentiate one smart contract from the other?When they go back to San Francisco, they ask, "Can you maybe write us some sort of expansion or kind of go to market plan for Solana in East Asia?" And I did that. That was right around the time when they're forming a board for the foundation. And then, that's also around the time when I joined Multicoin. They invited, it's like since you're part of the ecosystem and then you are pretty unique kind of position compared to some of the other board members, are you interested to kind of help Solana Foundation or raising the Solana awareness in a global sense? I was like, oh, that was really interesting in a differentiated way to contribute to the ecosystem so I said, yes.Since then, that was start of 2020. Since then over now, I've been doing quite a bit of things, always related to those lines, raising the awareness for Solana in China specifically because that's where I'm sitting. And also in some other places in Asia and also try to just kind of talk to different projects in multiple different ecosystem. And obviously now it's a multi chain world and then people would have different trade offs, like when to choose different things. But when they learn about Solana and learn about why they're optimizing certain things in the design, they're always willing to try it because back in 2020, there aren't that many people know about it. I think the first step really is just to having people understand how the system works and whatnot. I've been doing quite a bit of those. I think that's kind of my experience involved with Solana Foundation.Austin Federa (07:31):And Dan, as you kind of think about your role as the sort of executive director at the Solana Foundation, how do you define scope for an organization like that? What are the sort of things you're thinking about when you're thinking about initiatives that the foundation is engaging in or things the foundation is not doing and shouldn't be doing in your view?Dan (07:52):Yeah, that's an excellent question. Really, I see it as two primary areas of focus with kind of the overarching goal being broad growth of the network and the community itself without an eye towards turning a profit for the foundation. This is a nonprofit organization. We're not taking any equity investments or really taking the position to be picking winners. There's plenty of incredible innovation that's happening on Solana, lots of competing projects, lots of new stuff. And the foundation really wants to position itself to support, really talking how to provide support equally for everyone in the ecosystem. And so one of the primary thrusts, one of our main operational kind of focus points these days is really on growing the network itself from an infrastructure standpoint. That's really been my personal area of focus for really a long time now is how can we get the most number of high quality validator operators, the most humans running the most number of nodes, be it validators or RPC nodes, which serve as the API endpoints or API gateways for applications using the Solana network?And to that end, the foundation has rolled out a number of programs, really leveraging kind of the foundation's holdings of tokens, which are really allocated to grow the community and grow the network. Kind of as I see it, I don't know, maybe a bit of a personal tangent here. I originally started engaging with Solana in early 2019. I was working on the engineering team at Solana Labs and it was early stage startup. We hadn't even launched the Testnet yet, just kind of scrappy early days, trying to get everyone to understand and hey, proof of history is a real thing. We're really going to prove out this tech. And one of the things that was really hard was trying to get people to run validators. A lot of our early stage validators that helped us launch Testnet for the very first time and get Mainnet off the ground were a lot of them came from the Cosmos ecosystem.And so, we have a lot of these kind of OG longstanding validators who really helped get the Solana network off the ground came from standing on the shoulders of giants. The Cosmos ecosystem brought so much innovation to the proof of stake universe and kind of where this ties back to, in early days, myself and a couple of the early labs employees in true startup fashion, we were actually working out of one of the co-founder's basements and we hand built some of the first bare metal validators to run on the Solana network. Ordering parts on the internet, showing up in a bunch of boxes and just going forward kind of hacking on the hardware, trying to see how much performance we can squeeze out of these individual machines.We went and installed them in a data center here in the Colorado area and those nodes are still running today. Some of them are pointed at Mainnet, some of them are Testnet. And that was sort of the, I don't know, the genesis of, at least for me personally, a lot of my personal investment in seeing the growth of the validator ecosystem on Solana, having kind of physically hooked up and bootstrapped some of the first ones. And now having transitioned earlier this year to take on this role at the foundation, we maintain a program for anyone who wants to run a validator, can engage with tier one data centers all over the world that the foundation has. We've really kind of went to bat for our validator community and helped a lot of these infrastructure providers understand that, yeah, it takes a lot of horsepower to run a node on Solana and it can be hard to get your hands on some of these machines.And so in working with some of these execs at some of these older school, I'll say more traditional telco or infrastructure oriented companies, helping them to understand the value of what a powerful and secure and distributed Solana infrastructure ecosystem looks like, that's really been an exciting kind of growth track, I think for the foundation in helping to bring more hardware online and helping more people to learn to run it and get more nodes running and keep the network flying.Austin Federa (12:16):Yeah, I love the parallels to the Cosmos ecosystem being a validator ecosystem being early, early supporters of that because of course, Tendermint is also notoriously computationally intensive and runs better on bare metal than cloud so it seems like a very natural validator group to bring over in the early days.Lily, from your view, as looking over the ecosystem, what are the parts you see that are working really well in the Solana ecosystem? What do you see are areas, be it tooling, Dan talked a little about infrastructure, areas in which the foundation can make a difference in help evolving?Lily (12:53):What I think is going quite well right now is a lot of the interest in the energy and kind of the inbound on various stakeholder groups within the community. I think there's a lot of excitement from a general audience also because it's very accessible to a general audience. Again, as we were saying earlier, if it costs dollars versus hundreds of dollars to mint an NFT, that's a very meaningful difference to many people. I think general awareness has been amazing. I think there's a lot of increased developer interest and accessibility. And if you look at sort of the hackathons that we've had, probably every two or three months, three or four months in the ecosystem, the number of sort of people who are new to Web 3.0 that are starting with Solana, I think is really impressive and has grown tremendously in a very short period of time.We want to continue to extend that in various ways. And we've got a number of ideas as to sort of increasing the accessibility to even a retail audience, putting out sort of better documentation, better tooling to continue sort of onboard both maybe existing Web 3.0 developers who might be building in solidity or on sort of an EVM type environment. As well as, increasingly there's pretty substantial influx of folks coming over from Web 2.0 and thinking about where to get started and are starting off by making choices between essentially now it's really solidity or Rust and Rust, implicitly sort of Solana. And so I think that we can continue to invest in various ways of sort of helping people start within the Solana ecosystem. And I think that because Solana has grown so quickly in a very short period of time, there are also sort of ecosystem tools that are catching up right now.One thing that we hear a lot about is kind of indexing within Solana is something that we can probably improve as a community, data analytics on Solana, given that a lot of the applications are very sort of more consumer retail audience oriented is something that I think is also, actively being worked on. And so those are of the sort of near term things that people are thinking about. Obviously with the pretty tremendous growth of the ecosystem, also making it easier for people to run nodes, have access to baseline infrastructure. That's also something we've invested tremendous resources on through data center partnerships and it's known that Solana some higher hardware requirements but we've invested a lot to try to take down those various barriers. Those are some of the things that we've been thinking about.Dan (15:38):Yeah. And I would actually just kind of add to that. Some people do like to kind of harp on the interesting hardware requirements or high end hardware requirements for Solana. In the broad scope of things, when kind of the history is written about at these sorts of things, it's like, this is going to be something that's in a number of years or maybe even just a couple years, it's going to run on whatever machine you want to plug in to your home. We do have some validators that are running infrastructure out of their home. Some people choose to run in data centers. Some people do, God bless them, choose to run it in the cloud. But I think to Lily's point regarding the incredibly rapid growth of the Solana ecosystem, I think one area where we're really starting to dedicate more resources, particularly me personally and from the foundation side is on helping more people understand what Solana infrastructure really looks like.We've seen Tremendous resources and the developer relations team has put out incredible resources for new developers for Web 3.0 but the kind of tooling and community knowledge base of what does it take to run a good validator? And what does it mean to run a validator? Why should I care? I think it has a little ways to go in sort of advancing that narrative a little bit. In particular to lower the barrier to entry from, oh, you must be a sysadmin or a DevOps expert to, what I'd really love to see is all of these Web 3.0 teams and Web 3.0 app developers who are having a great time enjoying Solana and building on Solana, also participate in running the network that they so appreciate. I'd love to see more community buy in of teams that are vested in their project being built on top of a working Solana to help Solana run.What we've seen, even in just the last couple weeks or so, a number of these sort of NFT based Dow communities that have popped up on Solana over the last six months or so have started really taking this message to heart and are launching their own validator, which is just really cool to see. I know, I think Monkeydow claims the title of first Dow to launch a validator on Solana. I know the Degen Apes and the Degen community have also launched. And so it's just really cool to see these communities that really organically popped up around people enjoying NFTs and collecting these cool RNFTs that kind of blew up on Solana this summer now really starting to take a stake in the consensus and ownership and management of the network itself. And so I'm really excited to see that to start happen and really something I want to hope that the foundation can foster. And it's just something I also am excited to see the community really kind of taking it into their own hands more.Austin Federa (18:39):Yeah. I kind of love that, that it's so easy, even a monkey can do it. Is kind of the tagline there.Dan (18:47):It's perfect.Austin Federa (18:48):And the other, the Degen Apes, which are famous for having probably the least technically successful NFT launch to ever have been done by any organization have now their own validator. It's a good testament to how far we've come.Dan (19:02):It was incredible. It was such a struggle. There were all sorts of technical issues, like with the Metaplex standard had recently rolled out. They had various challenges with the mints and it was this saga that we all kind of watched unfold on Twitter and on all these channels over a number of days. And I got to give them credit. There were frustration, there was joy, there were tears. And it came out with one of the most unique, strong, enthusiastic communities on Solana having kind of gone through the fire of this rocky birth that was the minting process. More power to them. I just thought it was just so cool.Austin Federa (19:48):Yeah. I love how that all gets constructed. Kind of, along those lines, you Dan, you came initially from Solana Labs, you were one of the early engineers in the ecosystem. You're now working at the foundation. What's that transition been like? How closely do you still work with people like Raj and Anatoly? What's that relationship like?Dan (20:08):Yeah. I think the working relationship it's really interesting. There has been obviously, Solana, the whole network was built and originally launched, all the code came out of Solana Labs, where Raj and Toly run the organization. And they're obviously major players in the Solana ecosystem. This is the vision and the hustle that they've really brought to the table has been instrumental in kind of getting the whole community and the whole Solana ecosystem and the tech stack to really where it is today I think. Where we relate from the foundation is as sort of industry peers, I would say, sure, I talk to Raj and Toly, I talk with a lot of the ecosystem teams, I talk with our board and Lily and so many people that have an interest in Solana's success on the broadest terms and that's to really what the foundation is here to foster. As we continue to grow and expand and evolve our kind of working relationships with a lot of these organizations, I think just continues to evolve and expand.Austin Federa (21:22):And Mabel, looking at, you mentioned a bunch of the work you were doing was helping grow Solana in new markets. Can you talk a little bit about that? And I think, a lot of people, especially who are not working in the region, there's a lot of information around whether cryptocurrency is going to be banned in India or China, sort of how do you view some of those approaches?Mabel (21:44):Yeah, definitely. I'll answer the first part of the questions. I think it's going to be pretty much the same line as what Lily and Dan just mentioned but I'll kind of carve out those into details. I'd say, at the beginning you are also, you definitely need to engage a lot of these staking facilities but these people here it's quite differentiated because many of them are running the mining pools, meaning the proof of work mining pools. I remember back in the days, in 2019, 2020, we were talking to a bunch of those and happened to be that a lot of those are just crashing their wifi in the office. It's pretty funny. But at the same time, Dom who's from Solana Labs, we're trying to age of all of these mining pools and then we're just giving out some of those GPUs.But I think that's in the past. Now a lot more validators are actually starting from East Asia. I think there's some problem with in the past, with your location being far from the US so that's it's harder because Amazon cloud and whatnot but I think basically there's what Dan mentioned earlier, I think this will be a problem that can be solved in the future. I thought that was a pretty interesting thing to bootstrap at the beginning. And then the other things like wallets and non-custodial wallets, custodial wallets, because I think for East Asian crypto, you can never kind of ignore the centralized parties and players, especially I think in the past 24 month all the way till the next 12 month or whatever. I think a lot of those custodial wallets, including some of those exchanges, it was a lot of very pivotal work to try to engage them to support Solana, to support STL, USDC, USCT and a lot of the other stablecoins. I think, those steps that we were able to achieve in the past year in order to get a lot of these centralized exchanges to support those, I think that's also pretty interesting.Mabel (23:50):I think the other thing is that you just generally need to go to wherever because like back in the days in 2 18, 19 and 20, not that many groups are fully aware of how Solana works or even if it's like in Rust, I think people here I'd say safely were more familiar with things like Polkadot than Solana back in the days. Talking to some of those developers and just telling them, there's a few different options and then go to some of the hackathons or just developer meetups or even just the Rust China conferences, and then to promote about it. Justin Stery, he spoke there. A lot of these engagement opportunities definitely helped over the past two years for Solana to really get the writers here.I think that work still continue. And I think I believe that there will be a lot more application focused developers coming over, given from the history of Web 2.0, you see a lot of your infrastructure was built in the West but then application wise actually quite a few of them came from the East. I think, for Solana, for anything that's building on top of the smart contract platform, we could probably spec on the same track. You'll see a lot of people are going to build on top. Now once all of these are available.I think one interesting thing is that for things like wallet, you have Phantom for browser because I think in the West, people are pretty used to using browser wallet but I think here in the East, you also need something that has really good user experience and people like to go mobile first. And that's why Slope Finance, which is one of the leading mobile wallet for Solana in China, they were doing really well because they understand the user behavior and all of those to deliver to the specific audience. I thought this is like quite interesting how you will need to focus on specific areas, the same thing for East and West but then you want to make sure that people get to have the best culturally fitting choices for them so that way you can actually get it around.And then to answer the second part of the questions, so I actually the other day had a tweet about similar lines. There's a lot of Web 2.0 venture capitals and then some of the other funded funds, they're trying to deploy money and then we're asking it's still East Asia or some of the other places around still relevant because of the policy. The way I read this is that crypto is really global. I understand that there's certain restriction for developers to issue cryptocurrencies in China or in some of the other countries. However, I think the language circle and then user behavior, what I just mentioned was always going to be something more pivotal than the actual restriction. These people will move to somewhere else in Asia but they will continue to build. And then for people who want to use the kind of user experience for those products who are sitting here.I think crypto liquidity is global but user experience is always regional. And I think, if you're growing an ecosystem, you can't ignore that. I'd say I'm still bullish. And I think people are recognizing some a lot of those things are just better built on Solana because it's higher performance. And then at the end, it's just about how you make sure that you are compliant to the place that you are at. And then not definitely go with the compliance part but then also not hindering yourself building.Austin Federa (27:23):Lily, Dan, do you have anything to add on growth in new markets and that process?Lily (27:29):Yeah. On new markets, we started to invest in building out the ecosystem in India, back in June and July. And it's no secret, there's extremely large both user bases and also developer communities. I think in the most recent hackathon, after the US, the second largest contributor of developers, developer submissions to the hackathon was from India. And I think Indonesia was in the top four as well. And so I think as we continue to look to Eastern Europe, for example, Latin America, Africa, some of the early narratives as to what applications would be unique and sort of the 10X type of functionality on crypto, have been talked about and written about for years, if not decades. And for example, payment applications Which become supercharged when you take DeFi functionality, global liquidity pools and they make that adjacent to an actual you potentially consumer transaction.And I think that that to me, it's very clear that that's going to happen on Solana first. And so, what I'm particularly excited about is some of those seemingly sort of everyday type of transactions but those actually becoming very unique when you, for example, can take a stablecoin and have a Venmo feeling type of transaction or a WeChat pay feeling type of transaction but it's actually fully decentralized, fully on chain and also comes with a potentially a suite of financial services that are kind of baked into the ecosystem adjacent to that. I think those are the types of things that are going to resonate hugely in emerging markets, in new markets. And those are some of the things that I'm excited about maybe exploring in new markets.Austin Federa (29:10):Yeah. I do love how sort of culturally infectious the crypto mindset is. That to use a network, you also have to be an owner of the network and that the success of the network and the success of you as a user are tied in a way that they're really not in the setup of a stock corporation or something along those lines. You can sort of think of these things in some ways as giant digital co-ops that are all working towards this goal. It's really interesting to kind of hear that. And I'm really curious to see in the future, how that starts influencing culture. I think we're already seeing crypto just barely start to influence culture and that might take off a bit in the future. Be interesting to see.Lily (29:54):I think it is. And I think what's under the surface with crypto but what rapidly rises to the surface is that it's been talked about, written about philosophically for a very, very long time, this whole idea of a veil of ignorance, that your opportunity set is determined in large part sort of where you're geographically born today, rather than you know who you are as a person and what's in your heart and what's in your mind. And with crypto, you sort of have this radical accessibility. It's almost sort of radical equality if you will, in a way that we haven't really observed in a long time. And so I think that's really upending in so many different ways and that for me is a big part of why I continue to be interested in cryptocurrency. And also why I think Solana is really going to be at the forefront of that because all of those sorts of ideas, the accessibility, the sort of the very concept of why Web 3.0 is important and where people are most likely to get started on that today is the sort of general awareness funnels.People will hear about Bitcoin. They'll learn about Bitcoin. They'll learn about store value and people will resonate with that. Your average person will resonate with that because it sounds so much like digital goals. But then once they start to learn about Bitcoin, they're like, okay, I've bought it, I get it. It's kind of like gold for the digital age. What's next? Well can I do DeFi on Bitcoin? Eh, no, not really. Lightning, we've been talking about it since 2015. Soon.And then very quickly from there, people move on to, okay, well here, well that's really amazing. These sort of new applications. And I have some friends who bought NFTs and then they click a button and it's a $100 later. Gosh. Oh, that was painful. And I think that's kind of what a number of people have gone through so far. And so people sort of get onboarded to why this is important, why this is really sort of very exciting and part of the future. And then eventually what I've seen is so many people sort of end up with being in the Solana ecosystem. I guess what I'm excited about is accelerating that and maybe making it a little bit less of a circuitous journey.Mabel (31:59):I have a story to share related to what we were talking about here. I think, I now all of these protocols are starting to talk about Shopify type of experience, which is you have an underlying protocol and then you just have different ends. You just host a different way. It's actually not just for the cultural purpose. One story was shared by Roneil who's the co-founder of Audius, last week with me. He was saying that he realized because Audius is actually not, I think the main front end was not allowed in China at some point but then somebody actually set up a separate front end that's actually and filter out and then based on whatever the local compliance should be let a whole thing run. That front end actually works.He was exactly kind of explaining to me how he was amazed by Audius should be the underlying protocol and then it should be determined by the front end itself on the ground, what to feature versus not. And everybody can have their own choices. That's a freedom choice. Nobody's going to question that. I thought that was like really amazing. It's definitely beat beyond just kind of I think this is really relevant to what we were talking about earlier because I think for Solana, it's the same thing, a lot of the things. It may not be compliant for a certain reason in the region but I think at the end it's about the front end. It's not about the protocol. The protocol should be permissionless. Anyone else can just do whatever they want but for the ones that you want to make it work for a certain region, you can just do that. I thought that was really, really amazing and very unique about crypto.Austin Federa (33:30):Yeah. I love that, that sort of view that because of the financial incentives with crypto, you can decouple the application layer from the protocol layer, that those two things can be separate. This is in some ways, this is the dream of Twitter. We had this glorious few years where there were all these Twitter clients and then it all got, because the app engine was introduced, it all got consolidated down to twitter.com and the Twitter mobile apps. And RIP all of our favorite Twitter clients from back in the day. I love that, that the way this technology is built, it allows you to really separate those two things at origin, as opposed to having to think about the business models that support that over the long term.Dan (34:09):I would actually add, I think there's interesting things happening, both in the decoupling of that, like you said, the application and the protocol there but also an interesting sort of coupling there kind of to Lily's point about this shared ownership of the success of the project. And that's really this kind of shared ownership of the network is really the kind of core underpinning, this core idea that underpins this idea of staking on a proof of steak network. Which is your success is tied to the success and this really the security of the network. And what we're starting to see now are applications and DeFi applications, particularly stake pools that have recently launched on Solana that really bring the ability to participate in the shared security and shared ownership of the network to the application layer.There have been a bunch of community launched stake pools. There's some private stake pools. The foundation is in the process of transitioning its entire treasury over to stake pools, which are really this, I think we did a whole podcast episode on this recently so I won't belabor the technical details here but basically it gives people an easy way to enter and exit from a liquid position, which is actively helping to secure the network via staking to various validators in the underlying smart contract. But what I think is really interesting about this is we're starting to see these public stake pools that pop up, Marinade Finance, JPool, Socient, Lido and a few others that are really bringing the application experience, that really slick, fast, fast and cheap promise of what does it feel like to just use a useful service built on top of Solana and oh, how cool that a normal user can transact in these stake pool tokens rather than unstaked SOL.And I think we recently saw the first, there was an NFT sale or an NFT mint that was accepting stake pool tokens, a staked SOL positions, rather unstaked SOL. So we're starting to see this adoption of people who are not only just developing apps and playing around on the application layer but also recognizing that there's tremendous value in sort of moving the denominator of how we transact value on Solana to be pegged to the participation of securing the network itself.Austin Federa (36:40):Yeah, that's a really great point. Looking forwards, Looking into this year of 2022, what are the things that you see in Web 3.0 and crypto that have potential that could become trends that are going to advance and increase? I'll kind of start out. One of my big ones that I think is we're going to see a lot of the sort of tech-ish companies adopting decentralized Web 3.0 technologies as a competitive advantage to compete with a lot of vertically integrated companies. I think you're going to see a lot in payroll. You're going to see a lot in merchant payments, concert tickets. These companies that don't have platform scale are going to look to Web 3.0 as a competitive advantage. And you might see that role into the rest of the ecosystem. Dan, I'm curious kind of what your thoughts are. And we'll just go around the room here.Dan (37:30):Yeah, I think your spot on there, Austin. And I think one of the things that's really going to help unlock that is these sort of higher levels of abstraction of developer tooling and more sort of almost enterprise API access, if you will, to provide a more Web 2.0 like interface experience that someone could just plug in and it's Solana as a service. There's your SaaS for 2022 and it's instant settlement in stablecoins on Solana but no one needs to worry about the fact that it's a stablecoin on Solana. It's they integrate this API and the money transfers or the token transfers from merchant to customer or vendor to seller, whoever, immediately. I think that starting to see people using crypto and using blockchain without realizing that they're using a blockchain technology.Austin Federa (38:22):Lily, what are your 2022 predictions?Lily (38:25):I think industry wide I'm with you that Web 3.0 is going to become the starting point rather than sort of the periphery. I think that we're well on our way where Web 3.0 is going to sort of foment this decentralized center. And I think that there's a few things that are sort of going to happen alongside, in my perspective. One is this kind of movement towards multichain slash interchain future is just accelerating. I think that there's a few sort of different consolations within the ecosystem. There's clearly sort of the EVM world which we're going to have a connection to through Neon EVM. There's a lot of sort of obviously energy within Solana. There's some other, IBC, we talked about Cosmos a little a bit is probably another sort of approach within that and then connectors within these.And so I think there's various foci that are going to emerge there and increasingly there is going to be sort of those sort of layer ones are actually, I think, going to be abstracted away over time as they probably should be when you talk about sort of appeal to your average person. I think that another theme that I see emerging is as more institutions want to get into this and compliance with existing regulatory frameworks, institutional KYC and tooling to allow institutions to participate in decentralized liquidity pools, which I think is going to be pretty exciting. And so that's where the existing world is actually going to start getting onboarded in earnest into Web 3.0. That's going to be quite interesting.I think with that, there's a big theme around a sort of identity and privacy and on chain identity and having a little bit more control over your data on chain is another big thing, the theme that's going to evolve. And then, certainly in a consumer area, I think that NFTs went from being a very analog sort of digital representation of physical art and have now morphed into basically being the entry point into sort of Web 3.0 communities and metaverse and these kind of almost new communities, dare I say civilizations that are starting to sprout online. And so those are some of the from the more institutional to the more consumer, I think there's just so much happening out there. That's all really just going to continue to develop at a rapid pace in 2022.Austin Federa (40:49):And Mabel, what do you see for 2022?Mabel (40:51):Yeah. I'd like to maybe talk a little bit more about the application as in the middleware layer. Especially the crypto native ones. We've seen a lot of DeFi activities, 2020, 2021 for on Solana specifically because people like how fast transactions are like. But I think what's more excited, also something that I've been spending a lot of time thinking about and then exploring is that the actual kind of Web 3.0 application experience, what does that mean? People have been talking about metaverse so to speak for a long time but the things people can do beyond finance is never really happening before but I think there are, we've seen from a lot of the recent hackathons that you'll have address to address IM protocols, you have some of the Web 3.0 social graph where you can just basically have the relationship you with another person.And then another, some of the other things open C collections or some of the other things that you did. And then you also have things like on chain credentialing protocols. All of these, we are seeing them happening on Solana. And then with all of these composable, with each other, you can actually see that you have relationship between people in a game, for example. Or when you bootstrap a new application with the social graph, you can you customize the front page that you push to the users based on the social graph because like you have all those data. Obviously what Lily said about privacy preservation was very, very important. You don't want to share everything, which kind of it's kind of against the purpose but I think the idea is that for Web 3.0, you own the data.You are the one who approves the blockchain or whoever else to access your data of all eth and you control whether you approve someone to be your public connected contact. And then things like on chain credentials, you can prove, what are some of your achievements based on the contribution off chain. At this court discussion or things like whatever you've provided liquidity in the past for certain period of time or you just basically voted every single time in the community snapshot. All of these become your kind of on chain resumes or on chain badges that can later on help whatever you prioritize into a community. It's the such thing we call gated community. I think all of these are coming together. We're going to see actual consumer experience available on Solana. I thought that was extremely exciting because I think with all of these enabled, people will have no difference of experience compared to some of the other Web 2.0 application experience. I thought that's going to be very huge.Austin Federa (43:35):Well, thank you all for joining us today. It's fun to talk about some of these things that are not quite as pressing, as user facing that developers aren't picking up and doing but are nonetheless integral to the network and it's growth and its future. And I think it's really fun to talk with the names and some of the people behind the Solana Foundation. Thanks for joining us today.Lily (44:00):Thanks for having us, Austin.Mabel (44:01):Thank you.Dan (44:02):Great to be here. Thanks a lot.

On this episode of Empire, Jason Yanowitz and Santiago Santos sit down with Kyle Samani and Tushar Jain of Multicoin Capital. As one of the top performing crypto funds of all time, Kyle and Tushar have insight not only discuss their former and current contrarian opinions on the space but discuss what they've learned, how they're thinking, and what they're seeing when it comes to the crypto industry in 2022. -- ParaSwap: If you want to make a swap at the best price across the DeFi market, check out paraswap.io. ParaSwap's state-of-the-art algorithm beats the market price across all major DEXs and brings you the most optimized swaps with the best prices, and lowest slippage. Find out more about them at https://www.paraswap.io/ -- Empire is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like this, subscribe to Blockworks' free daily newsletter: https://blockworks.co/newsletter/ Follow me and Santiago on Twitter, @JasonYanowitz and @santiagoroel; let us know what you thought of the show! Subscribe to the podcast on Spotify: https://open.spotify.com/show/4UTePv1CR3APdKOiosR3Iq?si=41bc452345b649f9 Subscribe to the podcast on Apple: https://apple.co/3srZf7M