⚓️ Ethra Ship Notes｜Vol.035 Today, I kept thinking about one sentence. We built it from the deck up. That sounds simple. But I think it's one of the biggest differences between building technology... And building infrastructure. Many Web3 projects start with a protocol and then search for a real-world use case. Maritime doesn't work that way. When you've operated vessels yourself, your perspective changes. You stop asking what blockchain can do. You start asking what problems actually need solving. For example. Why do vessels disappear from tracking systems? Why do cargo delays remain invisible until they're already expensive? Why does one AIS signal still carry so much weight in a trillion-dollar industry? Those aren't theoretical questions. They're operational problems. And operational problems usually require operational experience. Technology can accelerate a solution. But it rarely discovers the problem on its own. That's why I believe the strongest RWA projects won't just tokenize industries. They'll be built by people who have spent years working inside them. Because experience is a form of infrastructure too. @EthraShip #EthraShip# #EthraShipProtocol#

🌲 Investing in Canopy Notes No.035 One sentence keeps replaying in my head. It was built in 20 minutes. A few years ago, that would have sounded impossible. Building an on-chain application meant weeks of planning. Infrastructure. Smart contracts. Deployment. Testing. Security. Today, AI is changing that equation. You describe an idea. The code appears. You refine it. You deploy. Suddenly, software development starts feeling more like conversation than programming. But here's something I've been wondering. If AI makes building applications dramatically easier... What becomes the next bottleneck? I don't think it's code anymore. It's infrastructure. You can generate an application in minutes. That doesn't mean you can launch an ecosystem in minutes. You still need a place where your product can live, evolve, and grow independently. That's why I found it interesting to see a developer use Claude to build an on-chain prediction market and deploy it as its own virtual chain on Canopy in such a short time. The story isn't really about AI. It's about reducing friction. Every generation of technology succeeds by lowering the barrier between an idea and reality. Perhaps blockchain's next chapter isn't about writing less code. It's about spending less time worrying about everything around the code. When builders can focus almost entirely on ideas, innovation tends to accelerate. History has shown that more than once. @CNPYNetwork #CNPYNetwork# #Canopy#

$VKTX 🚨 Announced the closing of its concurrent upsized public offerings of 9,035,714 shares of common stock, at a public offering price of $35.00 per share, and $258.75 million aggregate principal amount of 2.00% convertible senior notes due 2032 (the "notes"), which included the full exercise by the underwriters of the common stock offering of their option to purchase an additional 1,178,571 shares of common stock, and the full exercise by the underwriters of the note offering of their option to purchase an additional $33.75 million aggregate principal amount of notes. The gross proceeds to Viking from the offerings were approximately $575.0 million, before deducting underwriting discounts and commissions and offerings expenses.

Our Q2 Solana Validator Report is here. Skip rate is down to to 0.035% for our bare metal validators. Most of our clients are running Harmonic (76%), but also Jito (19%), JitoBAM (5%) and Firedancer in reserve. All with industry leading scale & security.

HORMUZ CRISIS SENDS TANKER RATES ABOVE $1 MILLION A DAY Supertanker rates on the Persian Gulf-to-China route have surged to $1.035 million per day, nearly 5x pre-war levels, as traffic through the Strait of Hormuz collapses. Only 17 commodity vessels crossed over the weekend, versus roughly 125 large commercial vessels per day before the conflict.

August 31 Update: #Bitcoin# ETFs: 1D NetFlow: -2,689 bitcoin:native(-$209.79M)🔴 7D NetFlow: +11,724 bitcoin:native(+$914.72M)🟢 #Ethereum# ETFs: 1D NetFlow: +31,399 $ETH(+$76.99M)🟢 7D NetFlow: +302,035 $ETH(+$740.57M)🟢