i like the direction Kinetiq is taking with Elysium the buyback and burn mechanism is interesting, especially with a portion of protocol revenue going toward reducing token supply what i'm paying more attention to is their plan to get applications across the ecosystem to direct value back to KNTQ as well i think that's an important differentiator for L2s, where a lot of networks struggle to create meaningful value for their native tokens Hyperliquid already has significant mindshare, and Kinetiq has an opportunity to build around that existing attention

Market Bubble ep.26: my full conversation with @armaniferrante (CEO of Backpack) on rebuilding Backpack after FTX, bringing US stocks to Solana, the future of onshore perps, tokenization and Backpack's long-term vision 0:00 - Backpack's evolution and the FTX collapse 6:35 - Bringing US stocks to Solana 11:33 - Tokenization and onshore perps 16:08 - Security, MEV and token incentives 21:57 - Backpack's IPO vision and what's next

shorted 1M $SOL this morning on pump & made $35k from the callout rewards while trade's pnl is only ~$60k dont think ppl are realizing how much they are giving away to traders for the same behavior they'd be doing anywhere else perps/memecoins/gacha

the original Solana thesis of having everything happen on a single blockchain still makes a lot of sense to me looking back at the past five years, every major cycle has pushed the ecosystem forward in different ways DeFi exposed the need for faster and cheaper transactions, NFTs brought new users and applications, and memecoins tested how the network handles massive amounts of trading activity a lot of these trends were driven by speculation, but they also helped prove what the infrastructure could support i think we're getting closer to the vision that originally made Solana interesting back in 2020