. $DEPEG is the first token to graduate on @liftdotfun on Arc Network. Lift is a token launchpad on Arc, and $DEPEG is the first live token to go through its graduation process. So for me, this is a simple first case to follow: - how $DEPEG performs after graduation - how Lift develops with the next launches - whether more activity starts forming around the pad Still very early. I’ll keep tracking the numbers from here.

I ranked every launchpad on @arc before public mainnet only 3 days left until Arc goes public on Sept 16 so early positioning is already getting aggressive native Arc USDC is reportedly trading at 1.82x-1.85x all-in through OTC markets that means users are accepting a 76-78% premium + ~3% in fees, just to access Arc before everyone else i wouldn’t pay that premium myself, but i take the signal seriously ppl are not rushing to hold USDC, they want to use it on day 1 then again i believe new token launches will likely be one of the first destinations so i researched around 30 Arc launchpads and ranked them by product readiness, mainnet exposure and potential to attract early liquidity: full tier list ↓ [1] Tier 1 - @liftdotfun → focused on native USDC launches - @circlewarp → owns both the bonding curve and its DEX - @synthra_finance → combines an AMM, aggregator and buyback model these have the clearest day-one positioning in my view i'll probably ape $DEPEG - first play on @liftdotfun, must be a runner ngl [2] Tier 2 - @actfunxyz - @ArcadeSwap - @arcpad_meme - @TollyLabs - @arclaunchfun the most interesting one here may be ArcadeSwap it supports both bonding-curve launches + direct Uniswap v4 pools giving projects more control over how liquidity is launched [3] Tier 3 - @Archemistdotfun - @UBIdotFUN - @Fliptfun - @arcfunapp - @eve_dot_fun - @minarafun - @Arguspad pre-mainnet branding is easy, execution after launch is what matters [4] Watchlist - @Zyoradotfun @sashimidotfun @rwarcdotfun @focidotfamily @Ayooclub - copycat platforms using similar names i’d also verify every handle, contract and domain before connecting a wallet there are already several similar names all over all, this is how I’m reading the board: - Tier 1: strongest day-one exposure - Tier 2: credible products, but execution still needs confirmation - Tier 3: early and less proven - Watchlist: relevant, but difficult to rank i expect this list to change quickly once real volume and user retention appear

➟ @openservai is opening SERV up to more builders. The SERV Reasoning API is now public, with support for OpenAI and Anthropic SDKs. It includes: - Structured reasoning - Validation - Privacy + audit trails - Cost controls OpenServ is also launching its first SERV Hackathon from Sep 14-27, with tracks around MCP, Coinbase AgentKit, RWA Vaults with IXS Finance, plus an open track. Prize pool: 4,000 $SERV + 1,000 USDC The API is live now, and the hackathon gives builders a direct way to test SERV in real agent workflows.

7 GUD READS 📚 (Edition No. 106) This week is about who collects when the pairing meta stops. > Learn the strategic play on memestock meta > Utility on Robinhood chain > Own the casino or play on a promise Never too late for these 👇

Existing tokens can now plug directly into the stock-pair meta. @ReStockFun lets projects pair their existing token with 500+ tokenized stocks on @Raydium rom NVDAx and AAPLx to SPCXx and GMEx. - No token relaunch - No transfer tax - Contract stays untouched - Pool fees flow back to holders in the paired stock ticker I’ve been tracking the stock-paired token meta for a while, and bringing this model to existing tokens feels like the next logical step.

➥ tokenization’s next bottleneck is collateral mobility most of the market still focuses on how much value has moved onchain i'm starting to care much more about how much of that value can actually be reused once it gets there that’s a very different stage of adoption since tokenized stocks are already moving beyond simple spot trading Robinhood says its stock tokens are being built to plug into lending pools and be used as collateral across DeFi Ondo designed its tokenized equities around the same direction → assets that can eventually be borrowed against, cross-collateralized & used across third-party protocols → Ondo tokenized stocks have started being used as collateral for perp trading as well if i hold tokenized NVDA, for example, the useful end state isn't just: buy NVDA onchain → sell NVDA onchain it could become: hold NVDA → post it as collateral → borrow USDC → trade or deploy that USDC elsewhere → keep the original equity exposure now the same asset is supporting more than one economic activity that is much closer to how mature capital markets work and it changes which protocols i think benefit from tokenization - @Ondo / @RobinhoodCrypto bring the assets onchain - @Morpho / @eulerfinance / @VenusProtocol-style lending markets can turn those assets into borrowing power - @FluxFinance_ was an early example of this model, supporting tokenized securities as collateral rather than treating them only as assets to hold - @HyperliquidX / HIP-3-style markets can use tokenized or TradFi exposure as part of the collateral + derivatives layer - @lifiprotocol + other routing infra can solve the distribution problem by making tokenized assets accessible across more wallets, protocols & chains then underneath all of this, oracles, liquidation infra & stablecoins become even more important so i think tokenization is entering a second phase - phase 1 was issuance: bring Treasuries, stocks, funds & commodities onchain - phase 2 is capital utility: make those assets borrowable, marginable, transferable & usable across different financial applications that second phase is probably where much more value gets created $1B of tokenized assets sitting in wallets is still useful but $1B that can move between lending, trading, collateral and settlement markets starts becoming financial infrastructure that’s why my RWA watchlist is shifting away from just issuers i’m increasingly watching the protocols that make tokenized assets liquid + collateralizable + composable because long term, i think the biggest winner could be whoever makes those assets useful across the largest part of the onchain economy

DeFi spent years optimizing for yield. The next layer is optimizing the treasury behind it. @Onchain_Matrix connects treasury management, yield generation and credit infrastructure into one onchain stack. Better capital allocation creates more productive liquidity, stronger yield flows and deeper onchain credit markets. Keep @Onchain_Matrix on your radar and explore how the stack is taking shape.

RWA perps are becoming a serious onchain market. @DefiLlama now tracks 600+ RWA perp markets with $4B+ OI and $100B+ monthly volume. The market is spreading across equities, commodities, FX, indices and private markets, with: @tradexyz @GMTrade_io @variational_io @Ondoperps @Lighter_xyz @extendedapp @edgeX_exchange @Aster_DEX @entropyIO @OfficialApeXdex @tradeparagon @ostium @HelixMarkets @GalnsNetwork_io @paradex @Kinetiq_xyz Tokenization brings assets onchain. Perps bring liquidity, leverage and 24/7 distribution around them. Good report from @RWAFoundation_ × @DefiLlama.

Ethereum is quietly backing a new credit stack. On-chain credit is one of the strongest clusters inside the @ethereum Security Subsidy Program, which helps mainnet builders reduce audit and security costs. The selected projects already cover several directions: ❱ Fixed-rate lending @term_labs @TenorFinance @spineprotocol ❱ Structured credit & leverage @roycoprotocol risk tranching @twynexyz credit delegation and leverage @StormbitFinance options-backed lending ❱ New credit models @3janexyz undercollateralized lending @anvil_xyz secured credit infrastructure ❱ RWA-backed credit @40acres_Finance lending against RWAs and yield-bearing assets Ethereum lending used to involve: deposit collateral, borrow, repay. Now the stack is expanding into fixed rates, tranches, delegated credit, undercollateralized loans, and RWA-backed lending. On-chain lending is starting to look less like a simple money market and more like a full credit system. As these structures become more complex, security has to scale with them too. Next up: the stablecoin stack. You can also read more in my fixed-rate lending stack below.

Most DeFi protocols still rely on the same loop: raise capital → subsidize TVL → emissions fade → liquidity leaves. A stronger model is to own the capital and put the treasury to work. That’s the thesis behind @Onchain_Matrix. Net token purchase proceeds are used to help form protocol-owned treasury reserves, which can be deployed across risk-tiered crypto and tokenized RWA strategies. That productive treasury forms the protocol’s current operating layer, generating yield from assets the treasury holds and deploys. The next phase expands that model into programmable onchain credit. Onchain Matrix is building infrastructure designed to enable users to post crypto or RWA collateral, access structured financing, issue tokenized debt, and eventually trade credit positions on secondary markets. This creates a broader framework with two complementary layers: - treasury yield from the current treasury layer - potential credit fees, spreads, and structured financing revenue as the credit infrastructure comes online ONMX has a fixed 1B token supply, with no emissions farming or inflationary rewards. Surplus protocol revenue may also support mechanisms such as token buybacks or burns, subject to protocol decisions and available revenue. The broader alignment is: productive treasury → protocol revenue → stronger ecosystem and token alignment Onchain Matrix is demonstrating the treasury layer today while building the credit infrastructure designed to expand what protocol-owned capital can do next.

➟ @solana is becoming x402’s machine-payment home. > 37M+ x402 transactions. > 20K+ buyers & sellers. > ~70% of monthly x402 volume. In one 7-day stretch, @BlockRunAI settled 5.4M agentic payments through @PayAINetwork, including 3.3M USDC transfers. That scale matters because most x402 payments are tiny. Agents are paying per request for inference, APIs, search and data thousands of times a day. The stack around that flow is also filling out: ❱ Settlement @PayAINetwork / @corbits_dev / @Figment_io ❱ Paid data & services @BlockRunAI / @syra_agent / @coing ecko ❱ Discovery @xona_agent / @x402scan ❱ Identity & credit @saidinf ra / @t54ai ❱ Agent execution @OOBEonSol / @elisymlabs / @WURKDOTFUN x402 on Solana is moving from a payment standard into machine commerce infrastructure. Transaction count is already scaling. Next, watch revenue per agent, repeat spend, and how much of this activity turns into real economic demand.

Who actually fills your BTC → ETH swap? Pools, market makers, or solvers. Give me 5 minutes, and you’ll understand all three. 1. Liquidity already sits in the pool @THORChain, @Maya_Protocol, and @symbiosis_fi all rely on pre-positioned liquidity. Take BTC-to-ETH as an example. BTC and ETH liquidity is already available inside the system, so the protocol uses that liquidity to complete the swap. Deeper pools support larger orders and better pricing. @StargateFinance and @Allbridge_io use similar pooled-liquidity designs for cross-chain assets and stablecoins. 2. Market makers quote when the order arrives @Chainflip takes a more active approach with JIT liquidity. When a BTC-to-ETH order appears, market makers compete around pricing and liquidity, and the best execution gets the flow. @hashflow uses a similar market-maker model through RFQ. @SynapseProtocol also sits around this active liquidity / RFQ design space. How this works - Order appears. - Market makers compete. - User gets the best available quote. Execution quality here depends heavily on market-maker competition. 3. The user gives the outcome; solvers handle the rest The user says: “I have BTC and want ETH at the best available outcome.” Solvers then handle execution. @NEARProtocol, @AcrossProtocol, @deBridge, @mayan, @gardenfi, @RelayProtocol and @eco are all building around this idea with different architectures. The user focuses on the best result. Solvers focus on finding the best way to achieve it. Then comes the aggregator layer @lifiprotocol @RangoExchange @SwapKitPowered @THORSwap @SOCKETProtocol Aggregators search across routes and decide which execution venue receives the order flow. Wallets own the user relationship. Aggregators choose the route. Pools, market makers, and solvers compete to execute the order. More competition underneath usually means better pricing and execution for the user. Users win.

don't think people realize how consequential this is vePENDLE: - max lock was 2 years - only ~20% of supply ever participated, with ~2% actively voting each week - weekly gauge voting was cumbersome and most of the value flowed to a small group of active voters - protocol fees grew from ~$30k/month to ~$1.6m/month, but the token wasn't capturing that growth efficiently sPENDLE (only live since jan 2026): - stake PENDLE, receive sPENDLE - 2-week exit instead of a 2-year lock - no gauge voting - protocol revenue is used to buy PENDLE on the open market and distribute it to stakers in such a short time pendle has already achieved: - 100m+ PENDLE staked, taking locked supply from ~20% to 35%+ - 2.5m+ PENDLE bought back, worth >$3m - emissions cut ~70-80% since january to ~884k PENDLE/year - annualized inflation now just ~0.5% - buybacks have already absorbed ~1.5% of supply YTD, meaning PENDLE is currently net deflationary 93% of staking wallets have never unstaked. not once so now ethereum:0x808507121b80c02388fad14726482e061b8da827 is: - running net deflationary - with growing protocol revenue - open-market buybacks - collapsing emissions - rising supply lockup and basically no staker churn dunno about you bro but holy moly am I glad to be holding a fuggin huge amount of pendle and get to be a tier 1 kol supreme for them full time

HYB brings NYLIM’s US high-yield bond strategy onchain via Centrifuge, while subscriptions and redemptions settle in USDC. The bottleneck is not tokenization. It is settlement. HYB redeems on T+3. That works in TradFi, but it is too slow for DeFi lending, where liquidations and de-leveraging need to happen fast. HYB is redeemable, but its settlement speed does not match Morpho’s risk engine. @redstone_defi Settle separates those two clocks. KYC’d solvers compete to provide USDC at T+0, receive HYB at a discount to NAV, and then wait through the normal T+3 redemption cycle. The delay does not disappear. It gets priced and transferred to the solver. That matters in two cases: + Holders want to exit without waiting T+3 + Lending markets need to liquidate or de-leverage positions immediately The first HYB vault on @Morpho, curated by @SteakhouseFi, is not live yet. So HYB as efficient lending collateral is still a design thesis, not market proof. The real test comes during stress. If credit conditions worsen, NAV can get less stable, discounts can widen, and solver balance sheets can shrink. T+0 may still exist, but it could become more expensive or less reliable exactly when protocols need it most. There is also a clear trade-off. Settle does not make HYB crypto-native. Solvers are still KYC’d, pricing is still anchored to NAV, and final redemption still follows the fund’s timetable. But that is exactly why HYB is interesting. The question is no longer whether high-yield bonds can come onchain. It is whether DeFi can lend against slower traditional credit without inheriting its settlement speed.

Be @ponsdotfamily > Build the leading launchpad experience on @RobinhoodCrypto Chain > Reach $9.47B in all-time volume > Power 583.7K token launches > Bring in 226.8K unique token developers > Generate $22.68M in protocol revenue > Pay out $78.36M to creators > Process $653M in volume in a single day > Handle 27.6K launches in 24 hours > Hit a 28,560 daily launch peak > Route $2.35M into the buyback splitter Launchpad growth, creator monetization and token value accrual in one stack.

Crypto’s fee leaderboard is getting broader. Tether $16.1M/day Uniswap $8.29M Circle $6.61M Pump $3.55M Robinhood Chain $2.9M Polymarket $2.67M Aave $1.23M Timeframe <30d> Bull run is cooked My picks to climb the fee leaderboard next: Trading / DEX @HyperliquidX @PancakeSwap @Raydium @MeteoraAG @JupiterExchange @AxiomExchange Lending / Capital @Morpho @SkyEcosystem @sparkfinance @worldlibertyfi Staking / Yield @jito @sanctumso @HyperFND RWA @Securitize @Grayscale @Paxos Consumer / Infra @Collector_Crypt @flapdotsh @BNBCHAIN Stablecoins, DEXs, chains, prediction markets, trading apps, lending, staking, and RWA are all producing meaningful cash flow. Which one will enter the top 10 next?

The next war is distribution. Tokenization pushes power into the asset onchain. The race is who spreads it. I will start with @solana first ❯ Solana is turning launchpads into a new distribution surface. @LaunchOnSF lets new tokens trade against stocks and RWAs. @MyDivvyApp and @otc_labs use trading fees to buy stocks or pre-IPO assets and route that value back to holders. ❯ @RobinhoodCrypto Chain takes the same idea deeper into market structure. @longdotxyz creates stock-paired markets, while @pairdotfund lets one token connect with a basket of up to five tokenized stocks. @GoMintly adds another layer by using agents to manage liquidity around assets such as NVDA, SPY, and SpaceX exposure. ❯ @base is developing its own distribution stack around tokenized equities. @vvveity turns stocks into quote assets for new token launches. @WakeOnBase is building discovery, analytics, and trading around tokenized stocks. That gives the same asset more places to reach users. ❯ @opentensor shows the same trend from the $TAO side. @forevermoney_ai brings TAO liquidity into Base and Robinhood Chain. @bitstarterAI connects TAO holders with early-stage subnet funding. @Bitcast_network distributes another scarce resource: attention, connecting projects with creators through a measurable incentive network. Each ecosystem is approaching the same problem from a different direction: > Solana: asset distribution through token activity > Robinhood: distribution through markets and liquidity > Base: distribution through financial apps and AI agents > Bittensor: TAO, funding, and subnet distribution Tokenization creates the asset. Distribution determines how many products, markets, and users that asset can reach.

➥ every major launchpad on RH i’ve spent time comparing their launch models, liquidity structures and fee flows [1] @ponsdotfamily V2 - strongest native distribution - $PONS remains my default place for high-velocity meme launches - it uses a bonding curve before graduating into permanently locked Uni v4 liquidity - launches can pair with ETH, USDG, cbBTC or tokenized stocks - the trade-off is the 1% curve fee and an additional graduation step [2] @longdotxyz - strongest stock-native model - the most interesting one from a financial-product perspective - creators can launch tokens against NVDA, AAPL, TSLA, SPCX and other stock tokens - community Vaults, automated buybacks and stock indexes give these markets more utility than a basic meme pair - best product-market fit for stock × community tokens - i'd use LONG when the token’s identity depends directly on a company, sector or market theme [3] @o1_exchange stocks - widest stock selection - o1 turns stock-paired issuance into a standardized product - creators can currently choose from 194 registered Robinhood Stock Tokens - the complete supply enters permanently locked Uniswap v4 liquidity immediately, without a bonding curve or graduation - the broadest stock catalog with a simple launch structure - better for exposure to a specific stock outside the usual NVDA, TSLA or AAPL trades [4] @poolstrade - best fees and distribution - @poolstrade is built by Uniswap Labs and offers Instant Launch or a four-hour Crowd Launch - its 0.25% LP fee is considerably lower than the ~1% charged by most competitors - fees automatically compound into permanently locked liquidity - low fees + Uniswap distribution from day one - the Crowd Launch structure makes more sense than a normal first-block race [5] @letscashfun - best creator and community alignment - creates the token and its permanently locked Uniswap v4 pool in one transaction - creators select the trading tax and receive their share in ETH or USDG rather than their own token - the platform cut is used to buy and burn CASHCAT - creator cash flow without selling the launched token, while every launch supports CASHCAT - this makes the most sense for creators already aligned with the CASHCAT community [6] @rialto_xyz / @launchonvaro- best connection between issuance and execution - Rialto is the trading and liquidity venue - Varo launches a fixed 100M supply directly into single-sided Uniswap liquidity - there is no bonding curve, and creators receive 80% of the 1% trading fee - deeper starting liquidity and direct access to Rialto’s stock-token execution infra - this is the option i'd consider when execution quality matters more than launchpad attention from a macro perspective, i don’t see this as only a launchpad competition the bigger opportunity is turning Robinhood Stock Tokens into active quote assets, liquidity and fee-generating markets

Perps are adding predictions. Predictions are adding perps. @Kalshi added perps. @HyperliquidX added outcome markets. @OfficialApeXdex integrated Polymarket. So I looked deeper into what prediction platforms are shipping. 1. Prediction markets are becoming more tradable @predictdotfun is pushing high-frequency crypto markets while making collateral productive through DeFi yield. @xomarket is experimenting with 5-minute markets and adaptive liquidity. @alphaarcade combines predictions, perps and combos in one product. @TxFlow_L1 is taking another route: a perp DEX and @ProblyHQ running on shared financial infrastructure. Active trading is becoming a bigger part of the prediction market UX. 2. Market creation is becoming a product @trylimitless lets users create markets and earn from the trading activity they generate. @opinionlabsxyz is combining permissionless markets with AI-assisted creation and resolution. Prediction markets are gradually expanding from standalone apps into infrastructure other products can build on. 3. Specialized venues are emerging @predofficial and @magicmarkets are pushing sports prediction closer to an exchange experience, with order books and active trading. Other teams are specializing around crypto, short-duration markets, live events, and distribution. Prediction markets are now adding: - High-frequency markets & perps - Productive collateral - Creator markets - AI resolution - Embedded distribution The category is gradually evolving into event-risk trading infrastructure. That creates much more room for smaller platforms to own a specific trading niche.