The world as you know it will never be the same Protests over cost of living and increasing inequality are spreading across Europe and beyond France is at the centre of it with a national movement over fuel prices, public services and inequality. The famous Limoges city hall was set on fire, protesters broke into Marseille's city hall, and Lyon's tourist office was torched. In Milan, a march against high living costs turned violent near the Duomo cathedral. Mauritius is a separate crisis, and in probably the most serious. Protests over water shortages and living costs escalated after police shot a woman taking part. The island is now under an extended curfew with tightened security Smaller protests with similar issues are mainly across Europe. In Belgium, students in Brussels and Liège are protesting tuition hikes, People marching in Lisbon over a housing crisis that has doubled Portuguese home prices, students protesting outside the parliament in Athens over rents, and teachers in the Madrid region have started an indefinite strike over school funding Everywhere is the same: rent, food, fuel and education are costing more than people can afford with stagnant wages, and a generation is running out of patience

Crypto AI inference - Providers are starting to stack up and it’s bringing @eigencloud’s unique market position into focus ELI5: @DarkbloomAI lets people with idle Macs earn money by running AI for others + @yukonresearch is the open research platform that makes that AI run faster Highlighting a few interesting findings on Darkbloom and Yukon: • Demand is growing → 15.3B tokens a day, up 50% in a month, ranking in the next tier behind the leaders • Cheapest of the 7 providers compared, at $0.13 per million tokens • Only one running on consumer hardware, paying 1,100+ Mac owners in cash • However, speed is still the weak spot on several models This is where @YukonResearch comes in where Humans and AI agents compete to speed things up and every verified gain goes into a shared open repo • Results: Gemma 4 26B ran 2.3x faster in about 5 days and Bonsai 2 27B hit 5.5x on an M5 Mac Implication & Market Demand Darkbloom brings real demand and Yukon brings open, community-driven speed-ups → two pieces of a more efficient crypto-native AI stack for @eigencloud This indicates an early sign that people will pay for AI to run on everyday Macs, with no token needed to attract them. For now, the largest provider sits at about 87B tokens a day + still not too clear on how Yukon’s value flows back to $EIGEN token (small holder of this)

South East Asia looks cooked - Fuel shortage in Bali, Indonesia - Indonesia's stock index crashed 8% today, its worst day since 1998 - Crazy haze situation in Malaysia and Singapore, highest since 2015 - Flooding in some parts of Bangkok, Thailand - Record “Super El Nino” climate phenomenon expected to hit several SEA countries

Fundraising in crypto • Trend of enabling shitty founders that raise based on hype/fomo (L1s, crypto gaming, nft projects, launchpads) but 4 years passed without any product • Paying themselves an absurd salary from the fundraise and slow rugging the project • Multiple fundraising rounds, with some investors only geting a SAFT yet no intention of TGE-ing • Ghosting investors/ not providing quarterly updates (bare minimum) after taking their money When proper projects with good business models and ethical, professional founders come along, investors hesitate to invest because of PTSD

Papertrade launch so far 1. Launch seems like whale-only chaos right now • Everyone's positions are basically unfillable unless you're doing 8figs trades ($10m+ notional) • Everyone else is stuck in a massive queue • @papertrade_xyz's LP already nearing ~$2m with close to 300m $PAPER minted • Seems like the design of this prioritizes big notional + liquidations, everyone else is just spectators (K shape happening on new protocols? kek) 2. The actual farm is “lose on purpose” • Open 1000x long + short, let one leg die so you mint PAPER cheaply (some are doing the other leg on other platforms?) then stake it and try to earn from everyone else’s losses • While LP is under $2m you get the flat high mint rate • Problem is the early flow is almost pure mercenary capital racing for that window 3. Sentiments • LP can go negative (queue/debt system) • Constant emissions + mercenary capital = forwards get heavily diluted, and once LP clears $2m the incentive to play drops hard • Seems like whales are going to hold all the PAPER tokens

Seeing some confusion on Identity.md (IMD) TLDR • A 2,000-seat AI swarm built on a 2023 @base game (@frenpetonbase) • Core premise: a P2P network of AI agents using Identity.md NFTs. Each NFT is one seat: lets holder run a worker (Claude or Codex) that takes jobs from the network • Jobs can be things like answering oracle questions, writing contracts, reviewing other agents’ work • The token is the money layer. The NFT is the labor • Token: sells into a protocol-owned Uniswap v4 pool get partially burned (85% burn, rest split to stakers / compute / seats) • Side tokens launched on the IMD community-coin pad are priced in IMD and also burn a cut • $IMD on ETH is ~$45m FDV now (~4.07M × ~$11). Supply is still ~7.1m across eth + base + robinhood, so the real FDV if combine all-chain is slightly higher (~$78m FDV) History • So frenpet (FP) was shipped in aug 2023, then it died. @surfcoderepeat kept the float and moved it to Ethereum • FP token bridged to Ethereum as a LayerZero OFT in oct 2025, with a rename (VIBE) • This year (may 2026), renamed again to Identity.md with the free mint of 2,000 IMD NFTs • So if you see the ticker VIBE or FP on any platforms, ignore it its the same CA (0xd34a99bc0f67ae1bbd63c660e6d0b0dd03e263b7) but they probably did not update the metadata The vision: “0-person, community-owned billion-dollar meme company" • Money: IMD is fixed supply, only burns. Trading and launchpad flow shrink it and fund the machine • Labor: 2,000 NFT seats. Each seat is one AI worker, running on that person’s machine and that person’s Claude or Codex subscription • Product: A reasoning oracle and a job network. You send a request. It is braodcasated out to N agents who solves the problem. • Launchpad: On top of that sits a launchpad where anything the swarm (or anyone else) launches is priced in IMD (interesting outcome is other people building financial apps on topbuilding financial apps, oracles, audits, stables on top) The IMD token • A large share of the Ethereum float is already staked, and every product he ships is wired to buy or burn IMD • Pool4: sells become burns. A protocol-owned Uniswap v4 ETH/IMD pool with a custom hook. When people sell into that pool, IMD inventory rises. Above a cap, the extra is pulled out as liquidity • Staking: each sIMD slowly redeems for more IMD (from the vault) • Community Coins: side projects buy the parent token IMD. Each trade pays the launcher and burns a cut of IMD Links • • • • • $IMD token holder

The new update from @longdotxyz @Natan_benish is now very beneficial for other LONG tokens apart from robinhood:0x2e8c31162b855a2ffa90f6f8634643ad6f111e18 And now @memorycowmoo is the first to implement the new community vault LP upgrade This follows what we mentioned: the vault was meant to hold $MU as a reserve, then the community could put it to work as extra liquidity, buybacks, or later an ETF-style product What's shipped this time round is the liquidity: robinhood:0xd9db30bb0d2b8d2eae3826a1372117e058791e18’s $MU reserve is now a major LP in the MU/USDG pool, with fees going back into compounding and buybacks, which moves it toward the liquidity-hub goal But the full memory-stock basket (onchain $DRAM) has not been built out yet @memorycowmoo wen Moo on my AI

Financial layer for tokenised capital markets @doppler_fi started with just yield vaults for $XRP and $RLUSD. Their new roadmap: becoming the financial operating layer for tokenized assets Basically building more primitives for people to earn yields on their assets, borrow against it or use it across financial products • More assets and networks: cbXRP vaults on @Base, planned expansion to @CantonNetwork, and tokenized stocks also being explored • More strategies: managed vaults where external institutional trading firms run their strats using Doppler’s custody and settlement infra (treasuries, MMFs and credit strategies) • Lending and credit: developing native XRPL lending, with institutional credit planned • Tokenized positions: vault receipt tokens first, followed by loans, credit exposures and fund interests --> positions become transferable, with potential use as collateral in other protocols Took a small position after they got @binance Alpha • Tokenized RWA meta looks here to stay catalyst by @RobinhoodCrypto, with more assets moving onchain --> more demand for infrastructure that makes these assets (finally) useful onchain • Existing traction: They also have Earn integrations with @Bybit_Official and @BitgetWallet. Reminds me of @ethena improving their distribution via these big players who already a user base and distribution • TradFi credibility: partnerships with SBI Ripple Asia and SBI Digital Finance bring institutional relationships in Japan • Access: already listed on @okx (extremely hard to get a Day 1 spot listing these days) and @krakenfx • Token utility: base:0x07b3d902783c3c12b077508c3b5c00113d1291d0 staking is designed to unlock selected product benefits (advanced vaults and strategies) Start with XRP yield --> add more assets and strategy managers --> build lending and transferable financial positions --> support more activity across tokenized capital markets

Crypto neobanks are the best Now I can increase my USDC reserves from my onchain shitcoin profits, sent it to the crypto debit card and buy stuff IRL Using magic internet money to buy physical items = means the items are free right? #BoyMath#

This routes activity from 70+ stock pairs into the robinhood:0x2e8c31162b855a2ffa90f6f8634643ad6f111e18 Community Vault with the aim of building an S&P 500-style reserve New stock-paired launches now send 5% of fees to the robinhood:0x2e8c31162b855a2ffa90f6f8634643ad6f111e18 reserve and 5% to buybacks and burns, cementing robinhood:0x2e8c31162b855a2ffa90f6f8634643ad6f111e18 as the core pair of the @longdotxyz RWA economy There is no LONG token , robinhood:0x2e8c31162b855a2ffa90f6f8634643ad6f111e18 is the LONG token Do you see it now anon? robinhood:0x2e8c31162b855a2ffa90f6f8634643ad6f111e18 holder

Every on-chain finance app is racing to become the one you never leave What used to be a clear division of labor where wallets hold assets, DEXs swap them, bridges move them across chains, is collapsing into a single fight for the same real estate: the one interface a user opens every day for everything @binance, @coinbase & @JupiterExchange are chasing it from the CEX & DEX side whereas @MetaMask & @phantom from the wallet side Each stacks features that used to belong to separate categories: perps, RWAs, yield, cards, social feeds, all converging into one app We ran a detailed comparison benchmarking the key superapp features across the category, Jumper @jumperapp included as the newest entrant and because they seem to be having their TGE soon Where Jumper Started • Built its name as a bridge aggregator, achieving #1# by bridging volume and ~15% market share • 100,000 monthly active users, and a top 10 position among aggregators by swap volume - - - - - Superapp Features: Highlights • RWA aggregation: Jupiter, MetaMask, and Phantom each plug into one tokenized-stock provider, mostly @Ondo Global Markets. Jumper pulls from six issuers at once: Ondo, @xStocksFi, @RobinhoodApp, @Backpack, Coinbase, bStocks → Jumper’s POV focuses on being issuer-agnostic, similar to its bridge aggregation strategy • Yield: One-click transaction zap across 120+ vaults and 20+ protocols, plus a Dust Sweeper cleaning up small balances most apps don't bother with • Advanced trading tools: Live features include pre-sign transaction simulation, smart slippage, and auto order-splitting above a size threshold Where Gaps Exist • No native discovery feed for memecoins yet, where Jupiter has AlphaScan and Phantom acquired @solsniperxyz • Perps aggregation hasn't launched, still pending with its own token and USD incentives via Ondo, while Jupiter, MetaMask, and Phantom already have live perps rails • No card or neobank product, an area every other app in this comparison has already shipped an MVP minimally - - - - - Closing Thoughts The category is consolidating fast, and the apps winning aren't necessarily the ones with the most features. There is no one clear winner yet, just some leaders leading in certain features Teams who continue to abstract away complexity while still giving power users the tools they actually want will continue to extend their lead. That being said, Jumper's bet is chain-abstraction and asset-coverage first, followed everything else after The gaps in distribution and consumer-facing products (cards, mini-apps, discovery) are where the wallets and CEXes have a head start. For now, very few competitors are issuer-agnostic on RWAs + more Superapp-like features coming soon (inc. Perps)

It feels like collectibles are becoming programmable inventor: onchain settlement + instant liquidity (via tokens, sell-back option using gacha mechanisms, or using a v4 hook protocol sweep) Doing a round up of collectibles/NFT meta onchain and there is a common theme around it - where the main collectible/NFT stays scarce yet this time its different from the 2021 season where innovations now give rise to a token pairing that makes it somewhat liquid, and a mechanism (either tax, gacha, sweep) that gives people something to do besides just holding it Examples: • Mechanism tokens around blue-chip NFTs: @token_works turned CryptoPunks into a flywheel with PunkStrategy: trade the coin, tax buys floor Punks, relists ~20% higher, sales burn the token • TokenStrategy generalized that to any collection (latest example is with CreditStrategy for @jackbutcher’s collection) • Fake World Assets ($FWA) is the TokenWork's NFT gacha pool where users can deposit an NFT + ETH collateral, others spin for a random pull • Legacy PFPs like CryptoPunks also making a comeback, what are its use case? Digital provenance? Aspirational items for HNWIs to flex as we spend most of our lives in the digital world anyway? • Tokenized trading cards + gacha. This is the biggest breakthrough in terms of collectibles. Projects like @Collector_Crypt, @Courtyard_io, and @PlayKamiApp put real graded cards onchain: rip a pack, get a vaulted slab as a token, sell back or ship • Non-card physical collectibles using the same pack/RWA pattern. @ripcarsio (Hot Wheels gacha) and @JurassicFi (tokenized dinosaur bones - did @Polychain founder @zxocw just ape this onchain though LOL) • zkSNARKs / ZEC NFTs: shielded identity” collection sold as the CryptoPunks of Zcash • NFTs as seats in a company, $IMD (@surfcoderepeat's new project): A peer-to-peer network of AI agents using Identity.md NFTs. Each NFT is one seat in the company, lets holder run a worker (Claude or Codex) that takes jobs from the network - answering oracle questions, writing contracts, reviewing other agents’ work. The token is the money layer. The NFT is the labor. Scattered brain thoughts: • Onchain collectibles allow people to store status that outsiders/normies already understand (Punks, PSA 10 cards) • Absorb crypto-native flow • Recycle speculation into the object (sweeps, buybacks, burns, royalties, agent fees) • Give a loop so that the NFT/collectibles are productive and can be used for other activities

Psuedo native token larping as a meme for the breakout app of this cycle with revenue buybacks Uni v4 infra for tokenised stocks Token with the most long-term holders + deepest liq pool + resilient (30%+ dips that got bought back up) Becoming the quote asset for other pairs with fee sink

Stock tokenization has 3 competing issuance models: native issuance, custodial wrappers and structured notes Whilst each model has its pros and cons, the end goal doesn't change → tokenizing the asset on-chain What matters is what happens after: liquidity, settlement and distribution to users @Mantle_Official is focusing on the infra layer that makes that happen, regardless of model: • @xStocksFi runs on Mantle today as a structured-note model, end to end → Fluxion for liquidity, Atomic RFQ for settlement and @Bybit_Official for distribution • The chain doesn't need issuers to agree on an architecture, it needs to support whichever one they pick Which issuing model being superior isn't the point. What matters is that the more viable models supported → more tokenized assets on-chain → more ways to actually access and trade them Mantle Partner