Solana Legend ๐๐ง
@SolanaLegend
Co-Founder, Managing Partner @FrictionlessVC, @monkeDAO Opinions are my own, not investment advice
4.7K Following 212K Followers
One of these is not like the others
Druckenmiller watching the industry he just publicly announced his involvement in get whacked for 5 billion
lfg
two fun facts about Korea:
- retail investors account for ~66% of KOSDAQ trading. retail runs the show.
- over 190 korean companies trading below book value despite earning above their cost of capital. altszn but with equities.
tokenize the long tail
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Backpack is going to put traders from every country on a single orderbook
No .com and .us and .xyz
All in one. We are one.
Backpack and SK Securities are partnering to expand global access to Korean equities.
The partnership combines SK Securitiesโ institutional expertise in Koreaโs capital markets with Backpackโs global reach to bring Korean stock trading to eligible investors through the Backpack app.
Building on our existing U.S. securities platform, the partnership also lays the foundation for collaboration in tokenized securities and real-world assets, connecting established capital markets with blockchain-based financial infrastructure.
Another step toward a single globally regulated financial marketplace.
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Backpack and SK Securities are partnering to expand global access to Korean equities.
The partnership combines SK Securitiesโ institutional expertise in Koreaโs capital markets with Backpackโs global reach to bring Korean stock trading to eligible investors through the Backpack app.
Building on our existing U.S. securities platform, the partnership also lays the foundation for collaboration in tokenized securities and real-world assets, connecting established capital markets with blockchain-based financial infrastructure.
Another step toward a single globally regulated financial marketplace.
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neural nets on solana
i will not comment more at this time
Meet the new Backpack app.
Feel modern finance.
NEW | all magnificent seven stocks are now listed on solana through @sunrise
> AAPL, AMZN, GOOGL, META, MSFT, NVDA and TSLA, all issued by @Backpack Securities
> Earnings week lands right after: GOOGL and MSFT report Wednesday, AMZN Thursday, mostly after market close while @solana stays open 24/7
โก๏ธ Earnings moves no longer wait for the opening bell
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Youโre never going to outcompete a guy whoโs just having fun.
We are at a critical inflection point where Wall Street core products and functions like derivatives, margin, and market making are being disrupted. The Temporal team has been competing at the highest level onchain and innovating on Finance 2.0 primitives. @marcryptonio and team are incredibly well positioned for this trend.
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Temporal has appointed Michael Marcantonio CEO.
Formerly head of DeFi at Galaxy, @marcryptonio will lead our team as we continue to build the future of finance onchain. He will lead in our growth efforts across Humidifi, Harmonic, and Nozomi; what weโre building next is even bigger.
Welcome, Mike
Read more:
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The tokenized stock wars are heating up โ but @Backpack is focusing on delivering the best price for users
CEO @armaniferrante highlighted new @Blockworks data that showed ~40x better execution vs. stocks on Robinhood chain:
"The endgame is to tokenize the entire stock market"
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Wall Street was closed. Tokenized stocks weren't.
Over the weekend, @sunrise and @Backpack listings out-traded every other tokenized stock issuer across all chains, including Coinbase and Robinhood.
$150M+ traded on RWAF member @solana while US markets were closed.
Data: @Blockworks
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Backpack just took the lead in tokenized equity spot DEX volume across ALL chains.
27% of our tracked volume on Oct 25, ahead of Coinbaseโs 25%.
Issuance models (@Backpack x @sunrise) and the underlying tech (@solana) still matter, and that is the fwd looking lens needed to see who wins this sector in the long run.
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.@Backpack / @sunrise is back in the lead for tokenized stock trading on @solana.
$585M in spot DEX volume over Oct 19 to 25. Its first $500M week, up 45% week on week.
Now 63% of our tracked Solana equity DEX volume, versus 32% for xStocks.
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0 mentions of EBITDA in the entire @AnthropicAI S-1 filing ๐
Backpack Securities led all issuers by 24h volume, with $105M+ traded on a Sunday while traditional US markets were closed.
24/7 equity markets, natively on @Solana.
Build on Backpack ๐
Source: @Birdeye_so
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Random appreciation tweet:
I love to see @Backpack and its loyal community doing so well in the space.
They deserve this success and much more. I love seeing OGs like @armaniferrante win.
So much fucking higher.
We are all one.
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The best way to grow US Capital Markets dominance is to export them over the Internet as tokenized securities like the US exported dollars via stablecoins
This is a 10,000x trend few fully appreciate
Americaโs capital markets are an underrated strategic weapon.
Anduril CEO Brian Schimpf on turning that edge into a tool for national priorities:
"The US capital market structure is, it's not like it's 10% better than anyone else, it's like several thousand times better than anyone else. Like it is just wildly better."
"If you're leaning into that and saying, 'Hey, we actually have great capital allocators that know how to underwrite companies and lean in on these things.' Great, let's just use the capital stack in a way that is aligned with national priorities around certain industries, certain capabilities, things like that."
"Where else could you finance $200 billion of data center investments with like basically no real revenue to show for it? Like it's crazy."
@SchimpfBrian @eriktorenberg
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Crypto is at the frontier of Finance
The west coast has always had a hard time understanding this. Itโs not software engineering and consumer and Web 3.0
Itโs HFT and capital markets on the Internet. Finance 2.0
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when youโre onto something big it often feels really hard.
and itโs because the things with the biggest outcomes have exponential growth.
they start off slow.
it feels like everyone else is powering ahead.
but when you hit the inflection point, it all happens suddenly.
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