Misha @0xStirol ran a market-making firm before @LiquoriceHQ — core MM on a top exchange, quoting 100+ pairs at once. When his clients started asking for the same thing on-chain, he hit a wall every DeFi market maker knows: you have to pre-fund inventory on every single venue, integrate every solver one by one, and if you need capital you borrow over-collateralized at 14–19% with liquidation risk. Most of that money just sits there, waiting. The insight that stuck with me: the capital isn't scarce. It's idle. The same dollar could settle hundreds of trades a year if it never had to leave the trading perimeter. That's Liquorice. LPs deposit into one shared pool. Whitelisted market makers borrow just-in-time to quote across CoW Swap, Kyberswap, OKX Web3 and more from a single integration — and the borrowed capital can't go anywhere except settling the trade. The counter-leg lands back in the pool, ready for the next MM. In public alpha, $1 of LP capital was turning over roughly 700x a year: $50M+ settled across 3,000+ trades in under four months, live on ~98% of days, with top CoW solvers routing through it. Misha trained in auction mechanism design before he ever touched a market, and his co-founder Toly scaled an institutional crypto liquidity platform to ~$3B monthly notional. There aren't many teams who understand both the game theory and the plumbing. Very proud to back @LiquoriceHQ in our @EASYResidency S4. Follow @0xStirol for more.

Bevis @d0_yoda and Leo @leohwlee are two Hongkongers who met at @AntGroup's headquarters years ago, stayed friends, and kept trading startup ideas long after they both left. When Bevis's Philippines payments business needed to go after licences and grow up, he pulled Leo in. That's how D0 started. The insight from our first call that I keep repeating to people: in Southeast Asia, nobody pays with a card. They pay with a QR code. And every global on/off-ramp is built on cards. So when a wallet, an exchange, a prediction market or a tokenized-stock platform wants to serve users in the Philippines or Thailand, they hit the same wall: QRPH, PromptPay, a dozen brittle bank integrations, each with its own licensing. Users hold pesos and baht. The platform runs on stablecoins. Nobody wants to build the messy local leg in between. D0 is that leg. One developer-first API: the platform integrates once, D0 collects local fiat over the QR and account-to-account rails people actually use, and settles to the platform in stablecoin — same day, T+0. That's where the name comes from. Day zero. Why this team: Bevis spent a decade shipping payments and consumer products at scale in Asia — Ant Group, Alibaba, Meituan, Lalamove — then built a Philippines payments company from zero with no outside capital. Leo was a founding member of Alipay+, where he helped land the anchor wallet deals across Southeast Asia: GCash, TrueMoney, Touch 'n Go, DANA. Aligning wallets, regulators and banks market by market is literally the job D0 is doing now. They're early, and they'll tell you that themselves. But I've rarely seen founders who understand the unglamorous middle of emerging-market payments this well. Very proud to back @D0payment in our @EASYResidency S4. Follow @D0payment for more.