Stablecoin backends still depend on TradFi: commercial bank deposits, short-duration government bonds, reverse repo. Bringing that backend onchain is a major Canton initiative, matching creation and redemption to a front end that already runs around the clock.

Factory's backend outgrew its original architecture. Now it serves one billion requests per month on Vercel using Next.js, Fluid Compute, and Vercel WAF. "We're growing rapidly, and are trusting Vercel to scale with us."

Pi App Studio backend support has been enabled! Backend capabilities begin with persistent storage for newly created App Studio apps, allowing apps to save and retrieve user-specific data across sessions. Creators can now build App Studio apps with user experiences that continue even after users leave and return. For example: - Game apps can remember a user’s high scores - Productivity apps can remember a user’s to-do lists - Note-taking apps can preserve notes automatically Before, Pi App Studio apps were largely limited to frontend-only, single-session experiences, where app data such as preferences or progress would disappear if users left the app. Adding backend support is a significant App Studio platform milestone because it expands what AI-created apps can practically do on Pi Network. Persistent storage is the first capability built on this foundation, enabling a broader range of useful, everyday applications. Learn more and create apps with this new feature in Pi App Studio today!

NEW EPISODE - How @HyperliquidX Becomes the Backend for ALL of Finance @multicoin cofounder @tushar_jain joins @TrustlessState to unpack why @HyperliquidX may be much bigger than a fast-growing perp DEX. Portfolio margining, HIP3 markets, builder codes, real vs farmed volume, hyperliquid:native value capture, unlock risk, and the path to US access. The big idea: every market, one DeFi backend. TIMESTAMPS --- 0:00 Intro 1:50 Perps Get TradFi’s Attention 3:17 More Than a Perp DEX 6:29 Why Portfolio Margining Matters 11:13 HIP3 and Permissionless Market Creation 13:47 Hyperliquid Becomes a Platform 19:54 The On-Ramp Question 21:36 Perps Are Not the Whole Thesis 28:04 Cash Flow as the Credibility Signal 33:05 Valuation Multiples and Lighter 34:36 Multicoin’s HYPE Framework 42:05 Token Value Capture 43:34 Unlocks, Wealth, and Team Motivation 48:30 The US Perps Question 52:27 Does Hyperliquid Need to Come Onshore? 54:32 The Final Bull Case --- RESOURCES Multicoin's Hype Analysis and Valuation report can be found here: The report includes important disclosures concerning the data and assumptions by Multicoin discussed today. Multicoin may have interests in companies mentioned during the episode.

Kimi wires up auth + database + backend in one pass One prompt gets you user registration, login, database, booking systems, admin dashboards - wired up and deployed. No separate "now build the backend" step.

- Claude = coding. ($20/mo) - Supabase = backend. (Free) - Vercel = deploying. (Free) - Namecheap = domain. ($12/yr) - Stripe = payments. (2.9%/transaction) - GitHub = version control. (Free) - Resend = emails. (Free) - = AI job Agent （Free） - Clerk = auth. (Free) - Cloudflare = DNS. (Free) - PostHog = analytics. (Free) - Sentry = error tracking. (Free) - Upstash = Redis. (Free) - Pinecone = vector DB. (Free) Total monthly cost to run a startup: ~$20 There has never been a cheaper time to build.