Four Pillars is co-hosting Solana Summit Korea with @SuperteamKorea and @Solana. On Sept 30 in Yeouido, Korean financial institutions and global Solana teams will sit down on RWA & tokenization, stablecoins & payments, and the infrastructure needed for real institutional adoption. We’ll also drop our latest Solana research report at the Summit — real companies, real assets, real integrations already live on @solana. See you in Seoul.

: : Hyperliquid Seminar Korea 🇰🇷 An invite-only institutional seminar on Hyperliquid and onchain finance, bringing together Korean financial leaders, builders, researchers, and the global Hyperliquid ecosystem. 📅 Sep 28, 14:00-17:30 🧑‍🤝‍🧑 Host: @hypurrcorea 🎓Research Partner: @HyperliquidR (@FourPillarsFP & @GLC_Research)

Talus v2 binds an AI agent's permissions, budgets, verification, and scheduling into a single onchain execution model, fixing authority and budget before execution and settling only results that pass verification.

: : FP Validated Launches Its Tech Blog and Ecosystem Research Hub ⚒️ We are opening up the operational knowledge we have built through running blockchain infrastructure, alongside in-depth research into the networks we support 👇

: : Four Pillars Joins KBW2026 as a Supporting Partner Four Pillars is joining @kbwofficial as a supporting partner. KBW2026 takes place from September 30 to October 1, 2026 at Walkerhill Hotels & Resorts in Seoul, bringing together the leaders, and builders shaping the next chapter of the global crypto industry. This year's edition features Upbit, 0G Labs, Stable, and Tria as main sponsors. The speaker lineup includes Joseph Lubin (Consensys), Bo Hines (Tether USA₮), Jeff Yan (Hyperliquid Labs), Tom Lee (Bitmine), Yuval Rooz (Canton), Kyoungsuk Oh (Upbit, Dunamu), Caroline Pham (MoonPay), Balaji Srinivasan (The Network State), Arthur Hayes (Maelstrom), and Harry Jung (Former White House). KBW is one of Asia's largest gatherings for the global crypto community, and this September, Seoul once again becomes the meeting point for the industry. As a supporting partner, Four Pillars will support KBW with research and by connecting builders, institutions, and investors shaping what comes next. Event Page:

Introducing Umia, which aims to redesign crypto’s long-standing capital formation problems, including the disconnect between tokens and equity, unfair token launches, and ineffective governance, within a single integrated system.

Crypto’s next phase is not just more speculation. Users need ways to manage wealth and not only trade risk. That means: - holding spot assets - preserving exposure - accessing yield - selecting risk-defined outcomes Gold is only the starting point. 👀

The Last General-Purpose L1 The title hits home for me. Monad has been 4.5 years in the making, and it still feels like we’re just getting started. But when we set out in 2022 to build the right system from first principles, conditions and industry beliefs were very different. There is significant path-dependence, and I do feel we were lucky to acquire the resources and talent, and have the breathing room to truly innovate, to build the Monad of today. Monad is a general-purpose L1. I believe that no other L1 comes close to the level of reliability, performance, fairness, and decentralization. And I believe that there are significant advantages to concentrating all the network effects of DeFi, payments use cases, fintech integrations, asset availability, consumer experiences, and capital formation on a single shared global state, built on a decentralized and neutral network. It’s a bold bet, for all the marbles, and it’s one that almost no one is taking today. Almost every L1 or L2 that you see has pivoted into building a single first-party app. And the few new chains are corporate chains, running commodity tech and run by employees of a company with shareholders to answer to. Corporate chains get a boost from their existing distribution (or perhaps from crypto-natives anticipating that they will utilize their existing distribution). But what is built is inherently limited. The existence of an anchor tenant dissuades competitors of the anchor from integrating. Neutral is the right tack for a network that dreams of delivering universal access to finance. But neutrality is tough sledding these days. It requires years of prerequisite work, truly unique tech, a community of believers, and adequate resources to go the distance. Monad stands alone. It is a grand experiment, in which to succeed the ecosystem must outperform everything that came before. Better execution, better asset availability, better opportunities, fairer outcomes. I relish the challenges ahead.

: : [Crypto/Report] Monad: The Last General-Purpose L1 Written by @c4lvin - Monad is the last case in which record levels of capital and time were bet on the thesis of a "high-performance general-purpose chain that can hold everything." It is also the final large-scale experiment testing whether integrated production can beat specialization in an era when chains are dividing into purpose-built roles. Its conditions for success come down to three things: 1) proving the composability premium that only integration can create, 2) keeping successful apps from leaving, and 3) monetizing demand that works without incentives. - Monad's ecosystem is the product of a four-stage funnel: community building designed as a status economy without a token, a founder pipeline represented by Monad Madness, testnet validation backed by 2.6 billion cumulative transactions and the full open-sourcing of its clients, and staged support after mainnet. That process, however, only cleared doubts about the technology. Whether the traffic represents real demand that will remain once costs apply is something only post-mainnet metrics can prove. - Results in the trading sector split sharply. Kuru overtook Uniswap in volume with a 36.4% share even as chain-wide volume shrank, but its fees remain effectively zero. Perpl is small in scale but has been charging fees and growing from the start. LeverUp records the largest volume and fees with its house model, though its thin user base concentrated in a few wallets remains a caveat. The landscape shifted in July, however. The perps segment led a rebound in chain-wide trading volume, with 30-day perpetual futures volume ($1.6 billion, based on the Foundation's figures) overtaking spot volume ($1.3 billion) for the first time. Perpl recorded $1 billion in cumulative volume and more than $800 million for the month, rising to the top of the ecosystem by weekly trading volume. - Lending currently contributes the most to Monad's TVL, but much of that capital is mercenary money that follows incentives. Liquid staking shows the widest gap between expectations and results: combined TVL sits at roughly $12 million against more than $46 million raised. Structural factors, namely native staking built into consensus and the absence of slashing, limit the added value liquid staking protocols can offer. - Stablecoin supply passed an all-time high of $517 million, but the increase was driven by a single asset, AUSD, in tandem with Pendle incentives. Outcomes pointing toward payments, RWA, and institutions, such as MetaMask's Money Account choosing Monad as its sole settlement chain, Aave's official deployment, and joining the x402 Foundation, are only beginning to show up in the data. This trend gained full momentum in July. Aave's total deposits crossed $500 million within a month of deployment, lifting Monad's DeFi TVL to $770 million and placing it in the top 10 across all chains. Stablecoin supply expanded beyond $550 million, and the onboarding of new dollar assets such as Ethena, Maple, and Saturn Credit diversified the sources of inflows. The active market cap of RWAs surpassed $430 million, making Monad the third-largest RWA chain after Ethereum and Solana. - The nearest variable over the next six months is the TGEs of ecosystem projects. Beyond valuation events for individual projects, the TGE cycle will be the first sector-by-sector measurement of how much demand stays on Monad without incentives. Full Report:

This piece dives into Neutrl's exploration of tokenized equities and pre-liquidity shares, a route out of the structural mismatch that ties synthetic-dollar yield to the crypto cycle.

: : [Partnership Announcement] FP Validated has joined Optimum(@get_optimum) as a Validator partner! As an institutional-grade validator based in Asia, we will support Optimum’s data propagation network through reliable infrastructure operations 👇

We're pleased to announce that @FPvalidated (a validator arm under @FourPillarsFP) is now testing mump2p. Well known for their top tier research work, @FPvalidated recently expanded into ETH staking to serve the Korean institutional market. Since Ethereum's network is less densely concentrated in regions like Asia, mump2p's latency reduction is especially valuable for node operators in the region to maintain high peering scores and performance.

: : [New Network Onboarding] FP Validated has officially joined the Injective(@injective) validator set! Backed by institutional-grade infrastructure, we look forward to supporting Injective as it enters its next phase of growth 💪👇

: : Four Pillars and ASA Launch Asia Crypto News, the Channel for Every Major Crypto News in Asia @FourPillarsFP and @AsiaStablecoin are launching “Asia Crypto News,” a Telegram channel that delivers every major crypto related news story across Asia in one place. Asia is home to some of the dynamic crypto markets in the world, yet key developments are scattered across local outlets in different languages. “Asia Crypto News” solves this by curating the most important stories from Korea, Japan, Hong Kong, Singapore, China, Southeast Asia and beyond, covering regulation, stablecoins, exchanges, institutional adoption and market structure. Every post distills the story into three key points with country tags, so readers can follow the entire region at a glance. Follow Asia Crpyto News today and never miss a major development in Asian crypto again. 👉

Very proud to have launched the "Hyperliquid Financials" dashboard with HL Eco. We've been vocal for a long time about closing the information gap in Hyperliquid, and this brings us a real step closer. In my opinion, this is the best dashboard out there from a financial analysis perspective. No more raw data only, you have EMAs on every charts and can download CSVs if you want to build your own chart as well. If you have any chart suggestion, please feel free to reach out. Some of the charts I love below. Go check it out, Hyperliquid.

: : HRC and HL Eco Launch Hyperliquid Financials, the Live Financial Dashboard for Hyperliquid HRC, founded by @FourPillarsFP and @GLC_Research, has partnered with @hl_eco to launch "Hyperliquid Financials," a dashboard that brings live financial reporting on Hyperliquid into one place. HRC started this journey by putting out the best Hyperliquid research in one place and publishing financial reporting, including $HYPE and Trade[XYZ] quarterly and annual reports. Hyperliquid Financials takes that mission a step further by moving to live reporting, which is only possible in crypto. TradFi is paying close attention to Hyperliquid and Trade[XYZ], but that attention needs clear, accessible data that lets investors, analysts and every other stakeholder do more than just read the raw numbers. With this dashboard, you get the most meaningful information on Hyperliquid in one place, CSV downloads for the underlying data, and analytical and projection tools to help you interpret it. No more raw data and nothing else. Hyperliquid.

Cantor8 is expanding its university initiatives to Korea. As part of @FourPillarsFP's University Research Challenge in South Korea, Cantor8 is hosting its own dedicated @CantonNetwork research track in 'Canton One'. The event begins in just one week's time, with a prize pool of some $8,000. After partnering with blockchain societies at Cambridge University, Oxford University, and Imperial College London, working with leading academic institutions in South Korea is a natural next step...

: : Four Pillars to Host the “Four Pillars Research Challenge 2026” for University Blockchain Clubs in Korea We are hosting the “Four Pillars Research Challenge 2026,” a research competition for blockchain clubs at leading universities across Korea, with a total prize pool of $8,000. The competition features four research tracks sponsored by @cantor8, @MetaMask, @solana and @Surfdeveloper. Participating clubs will also receive paid subscription accounts for @TheBlockCo Pro and Surf AI. To ensure a fair competition, the entire process, including registration, research preparation, and submission, will be conducted anonymously. An awards ceremony and networking event for participating university clubs will be held at Hashed Lounge on the evening of October 1. We look forward to your interest and participation!

The CEX plays a different role in Asia than in the West. Retail traders tend to rely on exchanges rather than taking sovereignty over their own assets through non-custodial wallets. That reliance grew strongest in Korea, where regulation restricted the on/off ramp to only 5 licensed CEX. This is a joint research initiative on “Asia CEX Research” with SurfAI. 👇