Why Link is a big step forward for consumer crypto - 250 million consumers have a Link wallet with a stored fiat payment method. - It supports a global set of payment methods like cards and bank accounts, as well as UPI, PIX, etc. - It now stores stablecoins (on Tempo!) in a consumer-friendly UX. No complicated addresses required. Just a digital dollar balance that can be spent at 5 million merchants. - It’s agent-native. The 5 million Stripe customers (as well as anyone who supports MPP) can immediately accept payments from agents using Link with no additional work. Virtually *every* leading AI company is a Stripe customer and works with Link. Ultimately, this is crypto as plumbing providing faster, cheaper and global without any consumer behavior change necessary.

Tempo virtual addresses are fundamentally different from other "deposit address" implementations (like the one we used at Coinbase): - Chain-level primitive, i.e. no custom build required - Zero additional gas cost for sweeping - No messy accounting or reconciliation per sweep

Neynar is acquiring Farcaster. Over the next few weeks, we’ll transfer ownership of the protocol contracts and code repositories, the Farcaster app, and Clanker to Neynar. They will run and maintain everything going forward. Some members of the Merkle team, Varun, and I will step back from day-to-day work on Farcaster and move on to something new. Rish, Manan, and the rest of the Neynar team have been building on Farcaster from the start. Neynar was one of the first Farcaster clients, and its infrastructure now powers much of the developer ecosystem. We think they are the right people to take over leadership of Farcaster and they’ll share their new builder-focused vision soon. This wasn’t an easy decision. Farcaster and the people building on it mean a lot to us. We’re proud of what our team built, and what the community built alongside us. But after five years, it’s clear Farcaster needs a new approach and leadership to reach its full potential. We’re excited to see what Farcaster becomes under Neynar, and we’re looking forward to this next chapter.